Mid-tier firms offer better experience
So says this recent story on Accountancy Age, quoting a Cantos interview with the ACCA’s head of development, Tony Osude:
“If you went to one of the mid-tier firms, one of the beauties about being there is you might not be paid as much necessarily, but you have much more hands on experience. You can expect to actually meet your clients in the flesh and have much more dealings with your clients and also, importantly, if you want to stay in practice and recognition is important to you, there’s a greater chance of being recognised and career tracked.”
I have worked only at my current mid-size firm, so I can’t give a first hand comparison of the difference between it and a Big Four firm.
I know that at my firm, I was given greater responsibility on files fairly quickly after starting, and when I started there I was as green as you can get. I thought a discontinued operation was an error message in Windows.
In a non Big Four firm, you’ll generally have more opportunity to effect change within the organization, and there’s a better chance the firm will be on the cutting edge technologically speaking. I have a feeling the first firm to truly go paperless, if that ever does happen, will be a small one.
In a non Big Four, you’ll have more direct client contact because the engagements are smaller – the team is smaller, the risks are lower, and the client is less complex. With fewer staff on the audit, the lower level employees will necessarily have to take on more responsibility, leading to more client face time. Because the work is less complex, lower level employees can work with the client and have the necessary expertise to do so.
There are great opportunities within small firms and students should know all the options when they are considering where to apply. It can mean the difference between a rewarding few years leading up to getting their designation versus doing nothing but low-level rote work.