I have an interview with the corporate finance arm of a large regional accounting firm. A couple of questions if anyone has answers...
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Why do accounting firms even have corporate finance arms in the first place? Is it simply to make more revenue? I don't see many investment banks who provide accounting services as well.
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What exactly is the difference between a "corporate finance analyst" and an "investment banking analyst". This place calls themselves a "full-service investment banking and corporate finance firm" for small and mid-market companies, and their entry-level position is called corporate finance analyst.
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What kind of exit ops am I looking at after a stint at a regional accounting firm's corp finance department? This is not a big 4 firm, but a fairly well known-name in the few mid-sized cities in which it operates. Obviously deals won't be big but the investment banking basics will be there.
Thanks to anyone who helps.
If you can't get a gig in IB, the corporate finance arm of an accounting firm is a great place to learn the business and build the skill set necessary to advance into IB. I don't have an answer for question 1 and 2 which you posed. But I know a few analysts at my BB who broke in year 2 and have done quite well.
Ditto that@ makeyourownluck. To your questions 2 and 3:
corp finance analysts at accounting firms (from my experience with these guys at a big 4) basically get staffed on deals to work on accounting implications for mergers, acquisitions, IPOs, etc. Basically, they provide advisory services on accounting treatment of the way the bankers have structured the deal. Additionally, Ive seen many corp finance analysts working on financial due diligence for clients. This entails going into a target company and assessing the company's true worth - i think this might sort of overlap with what M&A bankers do
exit ops: best path would be to do 3-4 yrs at this spot, get on some good deals and build solid experience, then apply to a top b school. from there its easy to break into IB at the associate level.
Corporate Finance arms of accounting firms - How are they viewed? (Originally Posted: 11/17/2014)
How is experience viewed at accounting firms that offer non audit services like corporate finance advisory if you manage to spend some time in this division. I'm talking chiefly about accounting firms outside of the big 4.
Are they viewed in the same way as small boutique IBs?
depends on the firm, i suppose. Financial advisory could range from due diligence, to advising on actual deals on the optimistic axis. Note however that at most boutiques and financial advisory practices, you will be doing alot of the same work as an intern (some clerical work, pulling information from CAP IQ, Bloomberg, editing powerpoint slides etc). If that is case, certerus peribus, the best route is the one that holds the greatest magnitude in perception. the boutique gives off the perception that you are more geared to do banking, which is why I would be more apt to say that this is the best route. however, you might also have a terrible experience at the boutique, and potentially a wonderful experience at the accounting firm. It's a really variable situation, but I would do the one that you feel is the best for you.
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