Ace your internship (Big 4) (1 Viewer)

[unswcomstudent]

Hi guys,

I understand that this has probably been answered but I can't be bothered to search through multiple threads. I also wanted this to be more specific.

I have a Vac program for Audit in the Big 4 (PWC) starting in January. My aim is to come out with a grad program. I understand that through all threads I've seen "you are expected to know nothing, just be ready to learn and make sure you fit in culturally" but I want to be a little more prepared so...

1) What technical knowledge will they teach? In terms of audit, would it be good to have a decent understanding of assertions etc? Or should we also know accounting knowledge (like consolidation lol)?

2) What about technical skills? How much of excel will we be taught? Any functions that would be good to know beforehand? Any other programs, we'll use?

3) In your opinion, what were the (technical/social etc) skills the outstanding vaccies had?

4) When are grad programs offered to vaccies? Right after the internship or is it during the year (taking into account the quality of grad program apps)?

5) Does anyone have an understanding of how many vaccies they took as grads in the big 4 audit last year or year before last year?

5) The most vague que: what really takes place during the 6 week internship?

 

[obliviousninja]

Mirin

 

[obliviousninja]

Did you go through preview before getting the vacation role

 

[seremify007]

I have a Vac program for Audit in the Big 4 (PWC) starting in January. My aim is to come out with a grad program. I understand that through all threads I've seen "you are expected to know nothing, just be ready to learn and make sure you fit in culturally" but I want to be a little more prepared so...

But it's true!

(congrats btw)

1) What technical knowledge will they teach? In terms of audit, would it be good to have a decent understanding of assertions etc? Or should we also know accounting knowledge (like consolidation lol)?

Most internships do not include formal classroom training and instead are more focused on on the job coaching. i.e. the associates/senior associates will coach you on what you need to do. Having some idea of what we do beforehand (i.e. assertions) will make you infinitely more useful but there is really no expectation. Don't rely too much on what you learn at uni though because you'll be there in Jan-Feb which is typically interim review time rather than an audit (i.e. ASRE2410) so your knowledge of the standard substantive procedures may not really come in handy especially as in practice, the procedures which teams do are typically very different as a result of complexities in the client's business and a focus on efficiency.

I'd also say it depends what job/team you're on and which service line you end up in.

2) What about technical skills? How much of excel will we be taught? Any functions that would be good to know beforehand? Any other programs, we'll use?

You learn everything you need on the job but if you want to do some practice/research, get familiar with the basics so you can summarise/collate data or search data quickly. I wouldn't expect a vaccie to know much more than what's taught in first year uni (i.e. SUMIF, COUNTIF, VLOOKUP, etc). Definitely not expected to know anything about macros, VBScript, etc.

3) In your opinion, what were the (technical/social etc) skills the outstanding vaccies had?

Willingness to learn, network, build client relations, focus on quality work, etc... Some vaccies have really stood out by being across what they're doing and project managing themselves.

4) When are grad programs offered to vaccies? Right after the internship or is it during the year (taking into account the quality of grad program apps)?

Varies by firm but typically within a week or two after concluding the program. Many firms recruit primarily through internships these days for their graduate roles.

5) Does anyone have an understanding of how many vaccies they took as grads in the big 4 audit last year or year before last year?

I'll let someone else answer this.

5) The most vague que: what really takes place during the 6 week internship?

I think it's more fun if you find this out yourself. Besides, the programs evolve each year.

 

[RishBonjour99]

I started mine in late November in consulting. The only thing you should definitely learn to impress seniors is excel skills. I was asked to filter and find something once which is pretty basic but i didn't know the quickest way to do it. But there is no problem with that, I simply asked my buddy and he showed me. But yes, to impress, get a good grounding on excel.


Edit: get yourself on whirlpool mate. There are heaps of people there who can give you solid insights into things and strong tips. Also, the most important, ask people at university if you can as well.

 

[Chronost]

I started mine in late November in consulting. The only thing you should definitely learn to impress seniors is excel skills. I was asked to filter and find something once which is pretty basic but i didn't know the quickest way to do it. But there is no problem with that, I simply asked my buddy and he showed me. But yes, to impress, get a good grounding on excel.


Edit: get yourself on whirlpool mate. There are heaps of people there who can give you solid insights into things and strong tips. Also, the most important, ask people at university if you can as well.

Whirlpool is actually a very solid forum for internships/graduate jobs,some people bag it, but I don't even know why.

 

[RishBonjour99]

Whirlpool is actually a very solid forum for internships/graduate jobs,some people bag it, but I don't even know why.

I think its because there are some people on there who clearly and intentionally over or understate things or paint the wrong picture. The vast majority are well informed posters. For example, I was RA for a finance lecturer and I saw him scrolling through Whirlpool during break lel. The way I see it, it is a bigger and more diverse version of BoS.

Also OP, another thing that I struggled with was working with different seniors and getting conflicting instructions. *EDITED OUT MASSIVE CHUNK* The best way was just to communicate REALLY well and from the beginning because it makes their expectations clear and it lets everyone on the team know what you are doing. For example 'Hey X, I'm just going to be engaged with Y for the next Z Hours doing this. She told me to do it in this way .....' done.

 

[enoilgam]

I started mine in late November in consulting. The only thing you should definitely learn to impress seniors is excel skills. I was asked to filter and find something once which is pretty basic but i didn't know the quickest way to do it. But there is no problem with that, I simply asked my buddy and he showed me. But yes, to impress, get a good grounding on excel.

Excel skills are so important in quite a few careers - I've secured interviews and even jobs on the back of my Excel skills.

I think its because there are some people on there who clearly and intentionally over or understate things or paint the wrong picture. The vast majority are well informed posters. For example, I was RA for a finance lecturer and I saw him scrolling through Whirlpool during break lel. The way I see it, it is a bigger and more diverse version of BoS.

Also, it should be noted that recruiters actively use Whirlpool so be careful what you say (they also pose as applicants). It can be really easy to identify some candidates based on what they post on Whirlpool.

Back to the OP, but another thing to keep in mind is you should try to improve your ability to source work. When I was an intern I kind of waited for work instead of seeking it, which is kind of what your supposed to do. It's a common thing though, it always comes up on performance reviews for Interns/Clerks.

 

[RishBonjour99]

Excel skills are so important in quite a few careers - I've secured interviews and even jobs on the back of my Excel skills.



Also, it should be noted that recruiters actively use Whirlpool so be careful what you say (they also pose as applicants). It can be really easy to identify some candidates based on what they post on Whirlpool.

Back to the OP, but another thing to keep in mind is you should try to improve your ability to source work. When I was an intern I kind of waited for work instead of seeking it, which is kind of what your supposed to do. It's a common thing though, it always comes up on performance reviews for Interns/Clerks.

This is a really good point. thanks man. Going to delete my previous post haha - a bit too specific.

On the flipside, you should know how to say 'no'. It is really important, if you take on more tasks than you can do - people who delegate tasks to you EXPECT THEM TO BE DONE. When you don't do them, it leaves a bad impression (and can affect their work).

 

[seremify007]

I think it really does vary between managers/seniors- the more experienced managers know how much they should delegate, how often they need to check in on things, how to tell if the person being delegated to knows what's going on, etc.

That all being said, a key thing which matters at all levels (even at mine) is the importance of expectation management. Things can get delayed, you may have other things on which we don't know about, you might have needed coaching again, etc... it doesn't really matter why, as long as people know and can adjust accordingly.


Sent from my iPad using Tapatalk

 

[RishBonjour99]

How'd you find it mate?
I finish mine today.
I can't do grad because not penultimate but the connections/advice gained is unbelievablE and is probably the best part.

 

[seremify007]

How'd you find it mate?
I finish mine today.
I can't do grad because not penultimate but the connections/advice gained is unbelievablE and is probably the best part.

Impressive that you got to do a big 4 internship if you're not penultimate. Which firm was it? Glad you got a good experience out of it.

 

[RishBonjour99]

Impressive that you got to do a big 4 internship if you're not penultimate. Which firm was it? Glad you got a good experience out of it.

Pm'ed .

Yeah definitely did! Such a great bunch of people, realised on last day I will definitely miss it.