Job Change : Bank of America or Ernst & Young
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Job Change : Bank of America or Ernst & Young
Hi All,
A newbie here. I am a software Analyst.
I am in the process of switching jobs. I just interviewed with Bank of America and I am confident about getting an offer from them in the next couple of days. This job is in the same city I currently live in. ( I live in a townhouse that I might have to rent as I cannot sell it because of the market)
Also I have an upcoming interview with Ernst & Young, for which I have to relocate to Atlanta.
Considering the pay range and benefits being comparable, Which job do you guys think I should consider.
Thanks
Serenemind
A newbie here. I am a software Analyst.
I am in the process of switching jobs. I just interviewed with Bank of America and I am confident about getting an offer from them in the next couple of days. This job is in the same city I currently live in. ( I live in a townhouse that I might have to rent as I cannot sell it because of the market)
Also I have an upcoming interview with Ernst & Young, for which I have to relocate to Atlanta.
Considering the pay range and benefits being comparable, Which job do you guys think I should consider.
Thanks
Serenemind
Re: Job Change : Bank of America or Ernst & Young
What does a SW analyst do ??? Where do you live now ??? My very unimformed guess is to NOT work for BoA.
Re: Job Change : Bank of America or Ernst & Young
With the information provided, there is not way anyone can give you an opinion that is worthwhile.
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Re: Job Change : Bank of America or Ernst & Young
This is very unscientific information and is based on Chicago contacts I have. I have heard that BofA is really big on outsourcing and a lot of strong technologists have been leaving over the years. They also seem to have massively downsized in Chicago with regards to technologists.
Please don't base your decision on this, but maybe ask about outsourcing as I try to generally avoid positions where outsourcing is close to a position I would be involved with. I generally believe outsourcing means that technology is viewed purely as a cost center. (You want to be a profit center.)
Please don't base your decision on this, but maybe ask about outsourcing as I try to generally avoid positions where outsourcing is close to a position I would be involved with. I generally believe outsourcing means that technology is viewed purely as a cost center. (You want to be a profit center.)
- ClevrChico
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Re: Job Change : Bank of America or Ernst & Young
If you have to relocate, all of your expenses should be taken care of. A large company would probably buy you out your townhome. Software engineers are in demand.
Re: Job Change : Bank of America or Ernst & Young
Ernst & Young is great experience but you will work a lot of hours; it is also generally not a long term career choice for many unless you are making the push to make partner.
Re: Job Change : Bank of America or Ernst & Young
Where do you want to live?
What is the difference in the cost of living between Atlanta and where you are now (since you've said salary and benefits are comparable)
Which job is more interesting?
Which job will you learn the most from?
Which job best positions you for what you want to do in 3-5 years?
Which offers the best training and education?
Do you want to work with the same internal team/projects most of the time or with different clients/projects (assuming E&Y job is consulting)?
What is the difference in the cost of living between Atlanta and where you are now (since you've said salary and benefits are comparable)
Which job is more interesting?
Which job will you learn the most from?
Which job best positions you for what you want to do in 3-5 years?
Which offers the best training and education?
Do you want to work with the same internal team/projects most of the time or with different clients/projects (assuming E&Y job is consulting)?
Warning: I am about 80% satisficer (accepting of good enough) and 20% maximizer
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Re: Job Change : Bank of America or Ernst & Young
Will BofA provide you with a guaranteed contract? It's highly likely the answer is No.
Now, read up on BofA and the stated goals. View the investor relations presentations posted on their website.
There is an external site, believe it is either glassdoor.com or thevault.com, where former insiders post about the work enviornment of target company. Might be worth a look.
Now, read up on BofA and the stated goals. View the investor relations presentations posted on their website.
There is an external site, believe it is either glassdoor.com or thevault.com, where former insiders post about the work enviornment of target company. Might be worth a look.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
- XtremeSki2001
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Re: Job Change : Bank of America or Ernst & Young
Depending on your role, working for Ernst & Young will provide you with an opportunity to work for multiple clients. The learning curve is vertical and you'll always be challenged to learn and do more. Accountability at a Big4 is spread across the ranks so the opportunity to manage teams will come quicker than industry. Consulting is also exposed to higher than industry raises. The benefits at Ernst & Young are some of the best in the job market - they constantly rank as one of the best companies to work for.
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A box of rain will ease the pain and love will see you through
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Re: Job Change : Bank of America or Ernst & Young
I am a retired IT executive and have some familiarity with both BOA and E&Y. I have never worked for either but have hired people from both companies. Both companies can provide excellent experience but may not be where you want to work long term. I would not worry too much about the bad press BOA seems to get. I have known many people who worked there in IT roles for a very long time and were reasonably content. Generally speaking I have found E&Y excellent in management consulting and BOA would be stronger in more technical roles. But this could vary depending on what you are being offered by each. The E&Y job almost certainly requires lots of travel which tends to wear on many people over time. Most likely the BOA will not require a lot of travel. Conversely, you will work with multiple clients over time with E&Y which broadens your experience. Depending on the job, you may experince some diversity of work assignments with BOA or maybe not. That is something you need to find out.
Given the limited info you provided, it sounds like your decision should be based more on how well the jobs fit into your career plans. What are your long term career goals and which job fits best in helping you to achieve your goal. You also need to consider the difficulty of selling your condo and only you can decide how much weight to put on that in your decision.
Best wishes.
Given the limited info you provided, it sounds like your decision should be based more on how well the jobs fit into your career plans. What are your long term career goals and which job fits best in helping you to achieve your goal. You also need to consider the difficulty of selling your condo and only you can decide how much weight to put on that in your decision.
Best wishes.
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Re: Job Change : Bank of America or Ernst & Young
I would love to work for different clients which makes E&Y an obvious choice, but I am worried about the expenses in relocating, as E&Y clearly said they are not gonna pay for relocation. May be they might compensate that with a sign on bonus, but as of now I don't know. Also we have a 4 month old, So don't wanna spend too much time away from her in travelling.stan1 wrote:Where do you want to live?
I am living in Charlotte, NC now and don't have problems moving to Atlanta.
What is the difference in the cost of living between Atlanta and where you are now (since you've said salary and benefits are comparable)
The difference in cost of living is not a lot, although Atlanta being a bigger city might be a little expensive
Which job is more interesting?
BofA is definitely interesting but E&Y gives a bigger lift to my resume in the long term. Purely my opinion
Which job will you learn the most from?
I think E&Y
Which job best positions you for what you want to do in 3-5 years?
E&Y
Which offers the best training and education?
E&Y offers more on the managerial side and BofA more on the technology sideDo you want to work with the same internal team/projects most of the time or with different clients/projects (assuming E&Y job is consulting)?
My guess based on what I have heard on the internet is that E&Y is a great company to work for. However all those reviews and opinions are from folks on the tax, audit etc, side. That's why I am confused.
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Re: Job Change : Bank of America or Ernst & Young
I have family members who are on the IT consulting side of business - it's a heavy travel job. My relatives have traveled the globe and skipped across various states at one time or another. Since you have family considerations, a local opportunity may provide you with the greatest overall benefit.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Re: Job Change : Bank of America or Ernst & Young
[/quote]Do you want to work with the same internal team/projects most of the time or with different clients/projects (assuming E&Y job is consulting)?
I would love to work for different clients which makes E&Y an obvious choice, but I am worried about the expenses in relocating, as E&Y clearly said they are not gonna pay for relocation. May be they might compensate that with a sign on bonus, but as of now I don't know. Also we have a 4 month old, So don't wanna spend too much time away from her in travelling.
My guess based on what I have heard on the internet is that E&Y is a great company to work for. However all those reviews and opinions are from folks on the tax, audit etc, side. That's why I am confused.[/quote]
You should assume heavy travel with E&Y as you will have to go to where project is located. Most likely not your base city. Also career path at Big 4 firms is typically towards management and management consulting, not technology. Best wishes.
Re: Job Change : Bank of America or Ernst & Young
rocket wrote:What does a SW analyst do ??? Where do you live now ??? My very unimformed guess is to NOT work for BoA.
I would agree with that assessment. I contract worked for them for years back in the 1990s, to 2000s, and saw lots of change over.
No job with them is secure.
Even educators need education. And some can be hard headed to the point of needing time out.
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Re: Job Change : Bank of America or Ernst & Young
I know a couple of guys who did outside IT consulting work for many years for BOA. Their BOA contracts were cancelled not too long ago, and they indicated that BOA has been downsizing IT, even though they continue to go for new hires, which are less expensive than the folks with longer tenure. I don't know the truth of any of this, it's just what I've heard. By the way, the housing market in Atlanta is in a deep, deep hole.
Re: Job Change : Bank of America or Ernst & Young
also investigate the other benefits from both companies. I've heard that BOA is changing insurance plans and the new plans are terrible. The best health insurance is given to folks making less money. folks with experience and making more money get squeezed by having the worst insurance and paying more out of pocket all under the heading of consumer driven healthcare plans I suppose most companies are heading that way to push more of the costs to employees.
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Re: Job Change : Bank of America or Ernst & Young
Hi I work at EY in Core Business. My suggestion is that when you interview, find out is this position in a service line or Core Business. Its two different worlds. A service line like Advisory will be busy, exciting and great for the future. CBS is more like a standard corporate job. I am in Marketing and I travel more than I would like. On the other hand, I was just in London and we all went to several Olympic events and the Closing ceremonies. EY works their people hard and if you have a little one I think that should be a consideration. I will check back here if you have any questions.
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Re: Job Change : Bank of America or Ernst & Young
Hi Cheryl,CherylHall wrote:Hi I work at EY in Core Business. My suggestion is that when you interview, find out is this position in a service line or Core Business. Its two different worlds. A service line like Advisory will be busy, exciting and great for the future. CBS is more like a standard corporate job. I am in Marketing and I travel more than I would like. On the other hand, I was just in London and we all went to several Olympic events and the Closing ceremonies. EY works their people hard and if you have a little one I think that should be a consideration. I will check back here if you have any questions.
Thanks for the reply. Since they asked me to relocate I am assuming that this might be CBS related, if its a traveling job why would they ask me to relocate, since I can travel to all those places even from Charlotte (Unless they want me to stay in Atlanta cos of it's airport). Even if it is a CBS related job my wife and me think that EY might be better for my career and our long term plans compared to bofa. But its a huge decision and I am torn.
Could you pls give me a little info about what the interview is going to be like...meaning more behavioral or more technical.
Thanks,
Serenemind
Re: Job Change : Bank of America or Ernst & Young
Hi,
Here's a link regarding the Big4, might change your mind
http://www.examiner.com/article/pwc-del ... d-servants
Here's a link regarding the Big4, might change your mind
http://www.examiner.com/article/pwc-del ... d-servants
Get rich or die tryin'
Re: Job Change : Bank of America or Ernst & Young
I worked for E&Y. I learned some great skills and work habits. After I left, I had no problem getting job offers for the next 10 or 15 years - the recruiters were really impressed by the name. It was hard, but, I'm glad I did it.
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Re: Job Change : Bank of America or Ernst & Young
I worked for 2 of the Big 4 and would agree that if you get the opportunity to work for EY, you should do it.
- XtremeSki2001
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Re: Job Change : Bank of America or Ernst & Young
I disagree. EY, along with all the Big4's, are very large organizations. Depending the service line you belong to or support, this would dictate your travel schedule. As someone working for a Big4 in a consulting capacity - I only travel ~30%. There are plenty groups I work with that travel 0% and some that travel 100%.johnep wrote:You should assume heavy travel with E&Y as you will have to go to where project is located. Most likely not your base city. Also career path at Big 4 firms is typically towards management and management consulting, not technology. Best wishes.
Just because you relocate doesn't mean you're relegated to a support role. The Big4 are large complex organizations. Sometimes resource scheduling, cash, service lines, etc have different capacities, needs, and costs that are different from an office in another city (e.g., Charlotte vs Atlanta). Posting more information about the job could help us to determine what role you'd be supporting.Serenemind wrote:Hi Cheryl,
Thanks for the reply. Since they asked me to relocate I am assuming that this might be CBS related, if its a traveling job why would they ask me to relocate, since I can travel to all those places even from Charlotte (Unless they want me to stay in Atlanta cos of it's airport). Even if it is a CBS related job my wife and me think that EY might be better for my career and our long term plans compared to bofa. But its a huge decision and I am torn.
Could you pls give me a little info about what the interview is going to be like...meaning more behavioral or more technical.
Thanks,
Serenemind
Depending on the role your interview will be different. The Big4 interview is a little different than your standard interview. It's split into different parts and generally each interviewer is responsible for evaluating you from a different perspective - think behavioral, technical, and both (e.g., use both these skills to complete an in interview case study).
As an aside, when the Big4 finds employees they like they will try their best to keep them. Often this enables stronger employees the opportunity to transfer into different lines of work or be given more responsibility / oversight in the current roles.
A box of rain will ease the pain and love will see you through
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Re: Job Change : Bank of America or Ernst & Young
The choices re travel etc have been laid out quite well here.serenemind wrote:Hi All,
A newbie here. I am a software Analyst.
I am in the process of switching jobs. I just interviewed with Bank of America and I am confident about getting an offer from them in the next couple of days. This job is in the same city I currently live in. ( I live in a townhouse that I might have to rent as I cannot sell it because of the market)
Also I have an upcoming interview with Ernst & Young, for which I have to relocate to Atlanta.
Considering the pay range and benefits being comparable, Which job do you guys think I should consider.
Thanks
Serenemind
Focus on what the job offers in terms of learning and promotion prospects. Early in your career that is most important as long as the pay is within reasonable variation (say 10-15% either way).
I agree with others here that E&Y will look great on your CV. B of A only if you stay in the banking systems world-- the job is likely to be more narrowing in that sense.
As long as you can stand Atlanta then I wouldn't let the city issue choose it for you. When you have a wife, kids and commitments that's when location becomes really important.
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Re: Job Change : Bank of America or Ernst & Young
Thanks for all the replies and feedback. I think I have made up my mind: If i get an offer from E&Y ...I will join, irrespective of all the constraints.
Re: Job Change : Bank of America or Ernst & Young
BAC to cut 16,000 jobs by year-end:
http://online.wsj.com/article/SB1000087 ... 83614.html
I personally wouldn't want to join a sinking ship like this unless I had no other options.
http://online.wsj.com/article/SB1000087 ... 83614.html
I personally wouldn't want to join a sinking ship like this unless I had no other options.
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Re: Job Change : Bank of America or Ernst & Young
The PMs I am sending you are stuck in outbox. Do you accept PMs?XtremeSki2001 wrote:
Just because you relocate doesn't mean you're relegated to a support role. The Big4 are large complex organizations. Sometimes resource scheduling, cash, service lines, etc have different capacities, needs, and costs that are different from an office in another city (e.g., Charlotte vs Atlanta). Posting more information about the job could help us to determine what role you'd be supporting.
Depending on the role your interview will be different. The Big4 interview is a little different than your standard interview. It's split into different parts and generally each interviewer is responsible for evaluating you from a different perspective - think behavioral, technical, and both (e.g., use both these skills to complete an in interview case study).
As an aside, when the Big4 finds employees they like they will try their best to keep them. Often this enables stronger employees the opportunity to transfer into different lines of work or be given more responsibility / oversight in the current roles.
- XtremeSki2001
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Re: Job Change : Bank of America or Ernst & Young
I received your PMs and responded.serenemind wrote:The PMs I am sending you are stuck in outbox. Do you accept PMs?
A box of rain will ease the pain and love will see you through
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Re: Job Change : Bank of America or Ernst & Young
HI just got back (traveling)
I agree with all what ExtremeSki says. EY on the resume looks very good and potential employers are very impressed. Also agree that posting more info on the potential job will help us give comments. On a side note, a guy that I met the other nite at the EY event joined EY from BOA a few years ago. All one persons perspective but suggest doing some research on financial stability and culture if you go that direction. From what I know interviews can be very different depending on the area that you would be joining. Common though is having many interviews. Hope this helps
I agree with all what ExtremeSki says. EY on the resume looks very good and potential employers are very impressed. Also agree that posting more info on the potential job will help us give comments. On a side note, a guy that I met the other nite at the EY event joined EY from BOA a few years ago. All one persons perspective but suggest doing some research on financial stability and culture if you go that direction. From what I know interviews can be very different depending on the area that you would be joining. Common though is having many interviews. Hope this helps