Need advice on Switch from Big4 to Industry - Urgent
I am a Qualified Chartered accountant with 3.5 YOE of which 1 year post qualification and articleship is also Big4. I am Senior Consultant 1 with EY Risk Consulting and have been with them since 3.5 years.
I recently got an offer in Industry for a product based company in their SOX & process improvements team at the position of Senior Financial Analyst, with an excellent hike
EY: Current CTC with EY - 15 lpa + Bonus (usually around 20-25%) Department - Risk Consulting, Work done - SOP, process improvements, ERP implementation, SOX, ICFR
New company: Offer -27.8 lpa + 3.93lacs bonus Department - SOX, Work expected - 80% SOX (Testing and assessment for M&A companies) , 20% process improvements
Partner at EY has offered hike after I resigned,says I am a highly valuable resource with big talks about being capable of doing big things and that my potential is wasted in Industry.
Revised structure if I stay - immediate 2 lacs retention, 18 LPA in Sept with 2 lacs retention+ the performance bonus of about 2.5 lacs which I would get regardless had I stayed (but probably will be slightly higher to appease me)
I have accepted the other offer and I am one month into my notice, but sort of having second thoughts. Work wise I don't really hate it here, the team is fine but usually I handle engagements individually or with one junior.
My biggest fear with switching is redundancy, boredom from doing the same work and being stuck in SOX (not my favourite but I don't hate it either, I don't like this service line as much tbh but it's way better than Statutory audit in which I did my articleship). But I am aware that switching streams or departments fter 3.5 years into something is very difficult unless I start from scratch I guess.
Considering this, what would you suggest - should I switch or stay and switch later after coming to Manager level (which is atleast 2 years away)?
Switch. If you are hardworking & worthy of 27.5 then why to work at 18 ? As far as your mental health is taken care of, working at higher pay sets your base for the future. ‘Zindagi me jab saari umar daudna hi hai, to maidan to apni pasand ka ho.’
I think you should switch. What they will offer you here.. they cannot match the other offer in any way. Also from the last 2 years . Growth has been slow in the industry and within EY. I don’t have a tech background, but still think if you are capable to get much higher package, then you should switch and take that chance :)
What's the new company's name?
Take decisions on the following parameters:
a. Whether the company you are joining is a growing company or not? Will it have acquisitions, new streams etc that will make your work exciting
b. Do you want to explore some other stream? If no answer or confused answer, then stick to current stream
I would suggest switch. The offer that they gave you suggest that they see you as valueable. This means that you can join them again in worst case scenario with the given proposal or little bit less
Switch.
Yahan log aate apni marzi se hai, lekin jaate sirf bhagwaan ko marzi se hai
To add more insight - I have been doing sox a lot more in the last 1.2 years that I am one of the few in the team for SOX so the work is isn't going to be much different but I definitely have the fear 💀 because usually going to industry means restricting yourself into a specific box
Only you can decide whether nature of work is important to you or money is important to you.
