JP said:
Lots of people start off with larger firms and then move onto smaller firms (or start their own) down the road. Not as many people do the opposite.
This is accurate and important in my opinion. One of the reasons for it is that, frankly, big firms tend not to respect small firm experience which will tie into my next comments.
In terms of project coolness and compensation, I think that a principal-ish gig at a big firm is pretty great. The trick is getting there, getting there in a timely fashion, and knowing when to call it a loss. Lower level positions at these firms can be pretty grueling as others have noted. You need to climb the ladder fast enough that your passion doesn't die on the vine first. If this winds up being your goal, I would:
1) Make the big company job your first job.
2) Bust your butt while you're young, have lots of energy, and relatively few commitments. Keep in mind that business development and project management matter much more than technical ability.
3) Make principal in ~10 years but know that you're on the short list by year six. If you can't tell by year six, you're not on the list.
4) If principal isn't going to happen, pull out early enough that you can move on to a smaller outfit, or your own, and achieve an equity stake in a reasonable time frame.
Getting to the top at one of the big firms is trickier than it might seem. It takes:
1) Excellence.
2) Effort.
3) Fortuitous timing.
4) Somebody with some power to recognize and believe in you.
Not all of that can be willed into existence. And not all of it is apportioned fairly.
I like to debate structural engineering theory -- a lot. If I challenge you on something, know that I'm doing so because I respect your opinion enough to either change it or adopt it.