To work In-house or work in Advisory?
I speak to many people working within Internal Audit, Internal Controls, Enterprise Risk Management and Compliance. Information hiring managers are telling me is they are looking to grow their teams rather than decrease them. But the question I am always asked from candidates is, should I work in-house or look at advisory within a consulting firm? Depending on your situation, one may be more suitable than the other.
Advantages of working in-house:
- Unless you are working in Internal Audit, you will have a reduced travel rate generally.
- Internal Auditors may have many international projects and have to travel up to 75%.
- More stability and certainty about where you will be each week and performing what task.
- Opportunity to transfer to a position within Finance after few years.
- Sense of ownership of the work you are undertaking, feeling engaged within the wider company culture.
Disadvantages of working in-house:
- Not all companies provide transfer opportunities, and if this does not happen after 3-4 years, it becomes increasingly difficult to ever make that change.
- In some cases the work can become repetitive in nature
- Can have slower career advancement than working in advisory.
Advantages of working in advisory:
- Defined career path, regular feedback and opportunities for promotion yearly.
- Tremendously high growth industry
- Variety of work, gaining insights into different industries and functions.
- Team environment.
- The most important function within the business (not a back office function).
Disadvantages of working advisory:
- Frequent travel
- High work load during peak periods
- Uncertainty about where you will be in the future, performing which task. Very demand oriented.
No matter which way you decide to go, hopefully the above information can provide you with some information to assist you with your job search. And if you are working in-house and would like to go to advisory or vice-versa, this can usually be done fairly easily as the skills you are bringing will generally complement each team.
Just remember that when you partner with a recruiter, you partner with someone who understands your needs and your profession.
For those of you in China working in Internal Audit, Internal Controls, IT Audit, Compliance or Enterprise Risk looking for a new opportunity, feel free to contact Spencer Browne to help you with your search. firstname.lastname@example.org