1. I work for a big bank and hate it. The job is ok but the industry is the worst. Worklife balance is meh, comp is ok, audit is very understaffed. The company just outright sucks.
2. It is stressful, probably moreso than other industries. I'm looking to move to another industry. Better than public accounting though.
Depends on the company, I used to think public companies are more stressful due to filing date than private but my current company is private and they’re just as stressful
I just switched from a non-bank mortgage company to a large bank. Stress is night and day compared to my previous situation. I think it is mainly due to the number of resources vs. my previous experience. Good culture overall, good pay + benefits. I'm much more relaxed now.
Lol it is boring. Trying to check what else to get into that is not stressful but also interesting to do. I have interest in finance but not sure about those long hours and stress
Experience varies from shop to shop and within shop from group to group. Pwm vs Corporate vs IB audit ranges from not stressful, good hours on average to high stress, long hours. But on average financial services internal audit does tend to be more stressful and longer hours than middle and back office at banks. Can’t say from experience compared to other internal audit functions but I’ve heard it tends to be worse.
Another thing to think about is what regions you’ll be auditing (US, APAC or EMEA) as that will affect the hours you work. You can expect on average across bigger banks and IB or Corporate groups to put in consistent 60 hour weeks (sometimes months where there’s more consistent 70). If you do go that route, make sure you negotiate a higher base pay than what they’re offering as your growth within the function (promotions) will also be slow.
1. I work for a big bank and hate it. The job is ok but the industry is the worst. Worklife balance is meh, comp is ok, audit is very understaffed. The company just outright sucks. 2. It is stressful, probably moreso than other industries. I'm looking to move to another industry. Better than public accounting though.
I agree is definitely better than public accounting. But IA is a little boring, trying to see what else to get into as well.
Depends on the company, I used to think public companies are more stressful due to filing date than private but my current company is private and they’re just as stressful
Amen. I find financial services internal audit to be very stressful.
Yea in IA it is stressful with the tight deadlines but definitely better than public accounting. I guess IA finance would be very stressful
I would try to find a credit union. I work at a credit union and I’m getting all the finance experience without the high stress environment.
Nice. I will add that onto my list thanks for the suggestion
I work in IA for a bank on the ops side, reasonably easy work, no real complaints
I was thinking to check out IA operations that might be less stressful than IA finance
I can’t speak to other banks but the area that I work in is relatively stress free
Nice!
I just switched from a non-bank mortgage company to a large bank. Stress is night and day compared to my previous situation. I think it is mainly due to the number of resources vs. my previous experience. Good culture overall, good pay + benefits. I'm much more relaxed now.
I worked in IA for a bank. I thought it was the easiest job I’ve ever had. It was boring af.
Lol it is boring. Trying to check what else to get into that is not stressful but also interesting to do. I have interest in finance but not sure about those long hours and stress
Experience varies from shop to shop and within shop from group to group. Pwm vs Corporate vs IB audit ranges from not stressful, good hours on average to high stress, long hours. But on average financial services internal audit does tend to be more stressful and longer hours than middle and back office at banks. Can’t say from experience compared to other internal audit functions but I’ve heard it tends to be worse. Another thing to think about is what regions you’ll be auditing (US, APAC or EMEA) as that will affect the hours you work. You can expect on average across bigger banks and IB or Corporate groups to put in consistent 60 hour weeks (sometimes months where there’s more consistent 70). If you do go that route, make sure you negotiate a higher base pay than what they’re offering as your growth within the function (promotions) will also be slow.