At those who are bashing the Big 4. I also worked Big 4 and left. I don't believe it is sound advice to tell someone not to do it. I believe what you say is true that quality of life sucks, and you will work like crazy. However, many of my peers that did not go Big 4 took longer to get where they are. It is not impossible to get to higher career paths but can be easier with the Big 4 on the resume. My recommendation to anyone is to understand where you want to end up. If you want to be the CFO or controller of a larger corporation, especially if it is publicly traded then you better go big 4. If you want to work not for profit, then you probably do not need Big 4 experience. To make a blanket statement that you do not need Big 4 is saying everyone is the same. There are some very good reason to get to senior or manager at a big 4. You also better believe that the average pay for some one who makes senior and is 5 years out is better then someone who does not, and even more so for manager. A big 4 senior manager can make in the ball park of $150K after bonus. If you make that level it is very rare that you will find a peer that is making the same (especially in accounting) 8 years into their career. If you are considering Big 4 remember there is a reason so many people want to get in, the career path is faster and higher with it then with out it.
That is not to say there are not many great paying jobs with quality of life with out Big 4. Just make sure your desired career path matches your your short term choices.
.