Accounting question (1 Viewer)

[Studymates]

Which field earns the most money?
Audit?Taxation?Insolvency?Business Services? because i've been offered a job and i can choose any of the fields
can you also tell me the benefits of each! (this is for a cadetship btw)
Thanks

 

[knightsfan2707]

Which field earns the most money?
Audit?Taxation?Insolvency?Business Services? because i've been offered a job and i can choose any of the fields
can you also tell me the benefits of each! (this is for a cadetship btw)
Thanks

Money won't vary much between all divisions.

Audit will give u the best exit opportunities.

 

[Studymates]

do the big 4 exmploy people in areas like insolvency/business services/foresnic accounting from mid-tier firms?
or do they only take audit/taxation people??

 

[seremify007]

Which field earns the most money?
Audit?Taxation?Insolvency?Business Services? because i've been offered a job and i can choose any of the fields
can you also tell me the benefits of each! (this is for a cadetship btw)
Thanks

1. They pay pretty much the same at entry trainee/graduate level- any variations would be due to timing and the firm itself.
2. Audit is the best for people who don't know much yet and want to broaden themselves as much as possible as it gives the best exit opportunities (as mentioned below). It's specialised but not to the point where skills and knowledge can't be transferred. That being said, if you plan to do law or have an interest in law, depending on which area of tax and which firm, this might be a good option.
3. The risk with some of the other roles you mentioned and in smaller firms is you end up doing tax returns/other regulatory or compliance forms/etc which isn't that challenging or great for development.

 

[seremify007]

do the big 4 exmploy people in areas like insolvency/business services/foresnic accounting from mid-tier firms?
or do they only take audit/taxation people??

Of course they do but it'll be decided/determined on a case by case basis. Once you get past the trainee/graduate stage, lateral recruitment is done on a needs and skills case-by-case basis. Having experience in a mid-tier firm helps, particularly if it's in a relevant field, but it's not guaranteed. As long as the firm's division is growing, they'll be needing more staff members across all grades to get the work done.

 

[Tim035]

I remember when reading through the graduate stats for the various service-lines the starting salaries were basically the same across all areas, only more broadly speaking were there some differences whereby I'm pretty sure marketing and HR were a bit lower and actuary was a bit higher.

Even the areas you've listed are really broad though, so personally I'd need a bit more detail as to the clients and what type of work in for example taxation (corporate, transfer pricing, government) the place/firm you've gained a position at offer?

Edit, sorry didn't read that this was for a cadetship. Hmmmm, if you're interested more in client relationships and don't mind a bit of travel I'd probably say business services would be the most fun; auditing as others have said is quite broad and will have you working on a range of problems and different scenarios which is challenging and good, taxation can be interesting suprisingly and is good if you are a bit of a wordsmith and don't just want to be a number cruncher (as you'll be drawing on law & statutes); insolvency I don't think much of personally, but there's not denying the money in it.

 

[seremify007]

Just remember that in some areas, they are extremely specialised and tend to recruit primarily through lateral means (i.e. qualified people) such as advisory or insolvency. If you are a trainee/cadet going into that space, you may not have many peers and the development opportunities may not be as strong as if you were in an area which has a clear progression and development plan for new joiners at trainee/graduate levels.