Work in Big Four or Multinational Banks? Part 3 – Differences in Promotion & Career Development

Before we have already discussed about ¨Work in Big Four or Multinational Banks? Part 1 – Differences in How Busy, Staff Composition and Pay¨ & Work in Big Four or Multinational Banks? Part 2 – Differences in Work Content, Coworker Relationships & Evaluation of Work Performance. Today we will give you more comparasion of working in both kinds of firms.

 

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  • Promotion

Promotion depends mostly on your competence; however, personal factors are also very important to the high level promotion.

1. Promotion Scedule

  • Big Four – as we mentioned before, the promotion in agency has a regular schedule. Normally it takes one year to get the next level. However, it is still very difficult to be promoted to manager or partner.
  • Multinational banks – because the division is more specific, in banks the promotion is more complicated, which is influenced by many factors, like competence, supervisors, opening of vacancies, etc.

2, Criteria

     Big Four

  • Qualification – Professional certificates, e.g. CPA.
  • Time contribution to clients – The more the better
  • Scores in evaluation – besides your competence, the attractive of your personality and the personality of your supervisor directly influence the perception of evaluation team.
  • Recommendation — it would be easier to be promoted from senior to manager if you got the recommendation from a partner, who has the decision power.

Multinational banks

  • Personal factors seem more important because not everyone could have the opportunity to get promoted.

 

  • Career Development

Both firms could lead you to work abroad or work in the consulting company.

  • Audit Senior– Accounting Managers in all big firms

It is a common for Audit Department workers to hop to the accounting department in other big firms because working experiences in audit lay a firm foundation of all accounting knowledge, especially accounting statement.

  • Tax Senior — Manager in big firms with Tax Department
  • Multinational banks — Job-hopping is less common, but it could become Treasurer in other commercial banks or other big firms.

 

  • To Summarize

Our discussion of the difference between work in Big Four and work in multinational banks has come to the end.  Above all, work in both types of firms could make a great contribution to personal career development. However, from the perspective of a recruitment professional, Big Four could make people become very professional, with high efficiency, stress-resistance, and perfection-striving. Therefore, it would cope more easily with any kinds of busy.

 

Edited by Simeng Zhang

The GrowinFinance.com Team

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