| Topic Name: |
ERS - what do they actually do? |
| Message Name: |
ERS new hire |
| Date Posted: |
03/06/2006 |
| In Reply To: |
I have a couple offers but am leaning either towards Deloitte in SF or JPMorgan in NYC.
THe position with Deloitte is within the ERS, control assurance group. Starting sal = $55k with about $4k bonus..I understand ERS goes into clients and makes observations, assesses risk, and then makes recommendations...A lot more client-interaction, instead of sitting in a cube - but do the new hires actually get to do any of this the first couple of months?
THe position with JPMorgan is a 2-year non-rotational program in NYC - sal = $55k + $10k bonus - you don't know the sector you will be working in, so you may like it or may not - not too much client interaction, although it is in NYC and you can make a lot of contacts...
pretty tough decision, anyone have any ideas/perspectives that i have not thought of? |
| Message: |
If you're coming out of undergrad then you'll start as a "Consultant," and "Sr. Consultant" if you're fresh out of B-school.
(My answers are based from LA)To answer your first question, you'll be shadowing a manager for about a month a two. The work is about 50% interviewing and 50% documenting the assessment and recommendations. For CA you're going to be interviewing a lot in the beginning with IT managers and CIO's, direct contact with CEO's when needed. Deloitte doesn't really tell you how to interview. They encourage you to find the interviewing technique that best suits you. Interns and Consultants meet with clients the second to third week.
Just incase you don't know, hours are 45-55 on average during the year. During the busy season and when deadlines approach, you'll be pushing around 70-80. But this depends on how much you want to work and how quickly you want to progress in the company.
Back to client interaction, AERS is all client services/interaction from the beginning till end, as your JPMorgan offer, if I'm assuming correctly is an i-banking first year analyst position (guessing from your salary). So you'll be doing a lot of pitch books, excel modeling, and number crunching for your first 3-4 years (analyst to associate). Much more cubical work at JPMorgan than Deloitte AERS.
Comment on the salary and networking. Deloitte AERS doesn't have bonuses for the first 4-5 years, and the bonuses you receive afterwards are not worth mentioning. JPMorgan, as you may already know have bonuses ranging from 10-30k the first year, depending on your team performance (but this comes with the hours you have to work). On networking, I think you will make quicker and bigger networks at AERS than at JPMorgan since the analysts (grunts) aren't really showcased to the CEO's of the clients' where as Deloitte clients' (CEO, CIO, COO, CFO) expect to meet with you.
When I was choosing between AERS and I-Banking this is how I broke it down.
1. Hours, 90-100 or 50-60
2. Pay (hours are tied to this)
3. Work-life balance
4. Client interaction or cube
5. Staring at the monitor or at a person.
Hope this helps.
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