17 Jun, 2009 | by

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I’m frequently asked by friends, family, clients, job candidates and random people I encounter on my travels what it’s like to work on the advisory side of a Big 4 firm.  Typically, if there’s time to discuss and there’s mutual interest in the exchange, I’m immediately bombarded with a slew of follow-up questions like:  What do you do exactly?  How does one get into that line of work?  How much do you travel?  Is it a good career path?  Is there such a thing as work-life balance?  Is it challenging?  Do you think I’d be good at it?  And so on…

The reason I’m so consistently willing to discuss my perspective with so many people, especially young professionals, is that I was once in their position and had many of the same questions.  When I received answers to my inquiries from people in the profession, many of whom continue to this day to be my friends, I was intrigued.  After some time contemplating the potential challenges that such a job would offer, I decided to pursue a chance opportunity to join the ranks of Ernst & Young LLP.  I’ve been with the firm almost three years now.  Looking back, I feel as though the six years of professional experience I had accumulated prior to joining E&Y, although invaluable on many levels, simply did not hold a candle to the client exposure, professional networks and shear rapid-fire experiences afforded to me in my present capacity.  I must confess, however, that this outlook reflects how I feel today, which wasn’t always the case.  Reaching this point has taken an immense amount of patience, hard work, resilience, ambition, and even a little luck.  Yes…I said luck. 

To be clear, this article has not been written under the guise of any Big Four recruiters.  Its goal is not to solicit top talent or self-promote services offered or whatever other angles you might have running through your head right now.  I respect all of the Big Four firms, especially mine, a great deal but feel that the only way to offer up a truly unbiased perspective on the lifestyle is to provide genuinely candid insight.  The primary purpose of this article is to offer a balanced perspective to those who may be interested in such a career path regardless of industry focus or subject matter area.  continue reading »

10 Jun, 2009 | by
Topics: Economy, Global

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The message from this global financial crisis is loud and clear; the system that we currently have is flawed, susceptible to produce crises and prone to systemic risk.

As a first step, we will have to fully address the SYSTEMIC RISK and the accumulation of excesses in global the economy that tends to build up during the period of strong growth. The hope is that the market participants, the governments and the regulators around the world have learnt their lessons from the ongoing crisis and will take this as an opportunity to reconstruct the financial system and the way it operates. Although one could argue whether it is safe put your faith in the ability of the market, the governments or the regulators to fix the SYSTEMIC RISK issue. No doubt, they have bungled up in the past and they would probably do it again. But that is not the point. We all make mistakes and learn from it. So we have to give them the benefit of the doubt. I hope we are all done with the blame game. The regulators and politicians were pretty quick to put all the blame on the banks, the investors, the insurance folks, the rating agencies and everybody else but not themselves. How convenient.

Honestly speaking, we are all to blame for this financial crisis including the folks on the main street who happily leveraged themselves not worrying about the shortcomings. In fact some folks on the main street got very comfortable with the idea of living on borrowed money without having the ability or resources to meet their obligations. And the reason for that was simple they figured that was the norm. continue reading »