I have recently graduated and have an offer from one of the Big 4 to train as an ACA within the audit department but am feeling increasingly drawn towards consultancy due to the variety offered through he job. However, I have ome reservations about the consultancy game, nmely the 'up or out' policy and the fact that I could be sent here there and everywhere with absolutely no social life at all! So I face a dilemma-accountancy would probably be more boring but bearable I guess and consulting clearly offers the most comprehensive career satisfaction. My question is; Can the lifestyle of a consultant be managed to actually hold down family life, relationships, friends outside work etc.. and where could I go after consulting with no professional qualification and five years worth of projects under my belt? Any advice would be much appreciated on the lifestyle manageability and career options post consultancy (vs. steady accounting job). Thanks in advance. -Confused Grad

the short answer is no. Most of the senior people at my firm are divorced. you have to be willing to go anywhere any time. If you specialise in something like investment banking then you might get to stay in London

But if you think you’ll be staying local as an auditor you’ll be disappointed I think. In your first 3 years before you qualify you’ll be sent all over the shop. However, once you qualify, I’ve heard there are lots of opportunities within your firm and that if you stay in Audit you’ll be less field based.

I'm about ot finish grad scheme at a Big 4 consulting house - i work broadly in strategy consulting but only the end-to-end stuff we sell.I used to work for EY as an auditor but resigned half way through my training contract as I hated audit and thought there must be more to life.The answer: there isn;t. Consulting is varied I guess but cranking out 30 PPT slides a day and never getting into too much detail with the advisory relationships we have is driving me mad! I'm not learning anything and relative to my accountant mates from uni, feel a bit of a plokner in consulting without a prof. qual to back me up.My advice would be to get your ACA, it's the door to so many things - banks, corp finance, consulting (albeit via a halfway house of accounting related consultancy I guess). Speak to recruiters and get a view as to how easy the ACA - consulting route is and if you can do it, do it.I'm thinking of going back to one of the Accountancy Houses as a Senior Con, just to get my ACA off them!

This is an interesting discussion! I am currently facing a similar dilemma. I have an offer to train as an ACA within the process assurance area (not traditional audit), but I am leaning more towards joining a consulting firm like DC/ACN or (if possible, MBBB). While ACA training opens many doors a few years down the road, I have learned from the top strat houses that the ACA training doesn't really give you any kind of an edge if you want to do consulting. I believe you still need an MBA to make the switch into consulting.My question is, I've heard that consulting-related jobs are more favourable for MBA applications than an ACA - is this true??(By "consulting-related" I don't mean necessarily MBBB quality, but DC/ACN strat will do.)

I work for a major competitor of ACN and DC, for a similar sized firm, in their 'strategy' service line.The MBAs we have come from LBS, INSEAD, SAID and others (i.e from the top schools in Europe to top-20 business schools) but only a few of them are really impressive. IMHO, the £x thousand they spent on their MBAs was just to get a foot in the consulting door - not to necessarily develop any specific skill set.The moral: if you really want to consult, don't think about an MBA until much further down the road but unless you;re in a top-start house (MBBB) the longer you stay on the consulting path, the harder it is to get out to a 'decent' job.Don't run the risk of not knowing anything - get qualified and use it to open doors for you - not all accountants stay in the job for more than a few years

Speaking as a former accountant, I would agree that you do get sent all over. So, in that respect, accounting is similar to consulting.My two pence worth - The advantage that an ACA in a Big 4 accounting firm is that you get to get a qualification out of it. This is valuable should the markets become (already have possibly) volatile.After qualifying, you can use your firm to move over to more interesting roles in advisory e.g. their CDD or corporate finance practices, build experience and then jump to consulting (if you still want to). You would be more experienced client-relationship wise, commercially, and technically as well.Who knows, during this time, you may realise that you don't really want to do consulting and you were born to audit...

Take a look at the financial management advisory practices of the big four accountancies, they will train you as an ACA with the culture of an accountancy. The work is also more likely to be London based due to the larger networks of offices that they possess.

Personally, I'd go for the ACA. I was offered an ACA contract but turned it down for an IT consultancy.I've now been working as a constulant in financial services for 3 years and feel like I'm far too much of a generalist. I've also been finding it difficult finding another consultancy job. Contrast that to my friends who now have ACA qualifications and seems to have the world at their feet.

how difficult is it to get into a strat-consultancy (such as DC/ACN/PA) not necessarily (MBBB) after getting an ACA from a mid-tier accountancy firm? anyone have similiar experiences?

They'd employ you like a shot

Ok, so I've been offered an ACA training contract and knew it was difficult but have jsut heard horror stories of friends working every hour under the sun for weeks, only to fail!How hard is the ACA - is it a question of apply yourself and no problem in passing or do you actually have to be reasonably elite in terms of you grey matter?

I found that the exams and material were not technically difficult. I found university courses more difficult.For me, the main challenge of the ACA exams was the volume of information thrown at you in a short space of time. Once you get over the shock of that, the exams are very doable. Also, the ACA tutors spoon-feed you sufficiently to push you through the exams.Challenging but by no means impossible.

sort of related, Deloitte offer the opportunity to do a CIMA to grads strating in consulting. Given what people have said regards to the importance of a qualification would people recomend to do this (would involve giving up part of your weekend). Obviously it is no where near as prestigious as the ACA but does so people even rate it at all? Opinions welcome

This is a really helpful thread, I want to get into transaction services and/or corp finance and have 2 years strat consulting at one of the full service houses. Are the skills I have developed sufficiently applicable to corp finance and TS to warrant me not starting at the very bottom of the ladder (i.e on £25k)? Can I sell myself in as a late pre-qualified (still low salary I guess) with these skills on teh assumption I can add alot more value than a grad, I jsut need to crank out some exams?Cheers

wow this is a great discussion!I had a chat with a colleague the other day about consulting/investments vs accounting. He advised me not to fall for the "sexy job syndrome" - that accounting is a respectable field and provides a solid foundation for a career in business.However, from a recruiting standpoint, I have talked with recruiters from MBBB and they said that the type of thinking used by accountants isn't what they typically look for. But then again, is this just referring to the TYPICAL accountant (number cruncher and doesn't see the big picture)?If you are an ACA/CA/CPA WITH BUSINESS INTUITION and PROBLEM SOLVING SKILLS, you can still work for a top strat house few years down the road, right?Afterall, McKinsey was founded by a CPA....

Also, what do people think about the next few years?With companies continuing to outsource, will this drive down the demand for consultants? Especially those who are NOT with MBBB and lack industry experience and professional certifications?And with the recent signs of weakness in the financial services industry (hedge funds, death bonds), the ACA route might not be a bad path afterall... any thoughts?

re: The outsourcing thing. Consultants play a big part in implementing this so if anything it will create more work for us.

Agreed that the exams aren't technically difficult, the volume of information and speed you need to absorb it are challenging. The advantage of working for the Big 4 is you get lots of paid study leave for full-time intensive courses, and while you still have to give up some of your spare time its perhaps a lot less than smaller accountancy firms or non-accountancy firms. The key difference - particularly compared to university - is that you require a lot of discipline to keep studying and you need to hone your exam technique. People fail this exams because they don't study properly or their exam technique isn't good enough - not because they're not clever enough. I speak from experience having failed the first ACA exam I sat (a big surprise - being the first exam I'd ever failed), after that fright I passed all the subsequent comfortably. Also if you have a humanities or social science background and haven't done maths since GCSE - the maths might be a bit of a shock. However, again its not difficult but you need to be up to speed for your first exam. NB. You need very little maths to actually do the job - the job is more about reasoning and deduction than dealing with numbers. And its for that reason, that it sets you up well for consultancy. As well as having good exposure to a variety of businesses at a senior level, and understanding the key issues at the top table.

C1 what are your reasons for wanting to move from strat to TS? Im thinking of going the opposite way so am intrigued by your thoughts....

Neither ACA or strat consultants are rocket scientists. Anyone could do either role. Someone who is already doing one role can do the other. Business acumen, commercial sensibility, problem solving, clear presenter - that's it. Dont get too hung up about it. The only box you're trapped in is in your mind!

Regarding an earlier message about Deloitte offering CIMA, I understand that graduates complete the certificate level in their first few months. Is there any opportunity to complete the rest? Would people recommend CIMA over other things for a career in consulting? Is this qualification reasonably highly regarded?Cheers

'C1 what are your reasons for wanting to move from strat to TS? Im thinking of going the opposite way so am intrigued by your thoughts....'The main reason for wanting to move frmo strat to TS is becasue the strat work my firm do is not pure strategy and I'm finding it monotonous and pretty unchallenging. After two years in consulting, there's no way I'd want to be in this industry for the long game - the money just isn't good enough for the sacrifice you have to make and the hours you have to put in. I'm 25 so am thinking now would be a good time to move sideways to get qualified and some deal expereience under my belt before combining the consulting and accountancy in private equity.Anon, with two years consulting experience under my belt, do you think i'd have to start at the very bottom of an accountancy firm or will my experience count for something? (Hoping to sell myself in as a senior associate i.e just before qualified?)Thanks

Your experience will count for nothing (at least at the Big 4).You'll start from the bottom because you're not qualified. It will take you 2-3 years to get exam qualified.You may find your experience will help you be better at the job than your peers and help you to rise faster. As long as you're picked up some business acumen already you should stand out. Most of your direct peers will have none.