I am going to have a phone interview tomorrow for an internship in the business valuation group of EY TAS. They will probably talk about my previous investment banking internship. I think I have my technicals down but I am not certain. DCF, Comparables etc...
Someone please tell me what else I should know for the interview. What exactly does TAS do? Is it the same valuation work as banking? What are things to note about EY and where can I find their recent transactions?
Also, how much are interns usually paid? I am applying for investment banks as well, however, if I get a second interview in person, and an offer I think I may just take that offer.
It's banking lite. They do valuation - but they don't sell as much. Moreso they work on fairness opinions. You gain the same skill set, but not the same network (you can, if you work at it, though.)
Interns are paid hourly, prorated to a full time salary - your hours will be capped at 40 though, so you can't earn overtime.
Be prepared to talk about your ibanking job and what you did there, but I wouldn't expect that you would get drilled on many technicals. If you can do banking, they will assume you know your technicals well enough, so I would focus more on being able to explain why you want to do TAS instead of ibanking. If your previous internship gave any return offers be prepared to explain why you didn't get one. They want to know you are willing to stay in TAS for a while and not try to jump back into banking as soon as possible. Come up with a good story and don't let them convince you it's just made up, and sell it strong.
As far as pay, you will get anywhere from $23-27ish depending on city. NYC being high end of that range, places like Chicago will be in the middle, and Charlotte or Atlanta probably on the bottom of that range. Overtime depends on the group, and while you probably won't get capped at 40 hours, you probably won't work more than 60 hours a week. You might land in an understaffed group and work like 80ish, but doubtful.
I don't know where you can find deals that they've worked on or even where to start if it's not on their website somewhere.
I have an interview with m&a group at EY TAS next week. Could you please shed some light as to what kind of questions I should expect and how should I prepare for it? I have one year analyst experience with a boutique ib. Need some urgent advice.
Thanks TDSWIM, very informative. I tried their website for their transactions so either they hide it really well, or I just such at research.
Honestly the only reason I am considering them is because I think it makes me more competitive for BB recruiting when I do my junior recruiting the following summer. (Having both banking and accounting internship) I'm being pushed back a year because I am transferring and I already have a banking internship so 2 of the same thing is kind of redundant no? Thanks for any insight.
If you want to do BB recruiting next summer, I'd stay away from transaction services at a Big 4, and let the redundancy just happen. You could possibly try to go to a PE fund and do an internship, or HF or whatever you want to do after banking instead. If you interview and get an offer at EY, you will almost certainly get an offer if you show up everyday and don't do anything stupid in front of clients or have awful work. I've never known anyone personally that hasn't gotten a return offer following a Big 4 internship. I have actually heard of EY extending full time offers so that you can try other internships, which would probably never happen in banking. So if you want a good backup it's a safe route, otherwise, just stick with banking. If EY is your only option then take it and don't feel bad about it, because it's not a bad gig in the big picture, even though not everyone on this site will agree.
Had my interview today... I kinda fucked up on my technicals with accounting.... anyways, they mentioned that when they hire interns, they usually expect the intern to take the full time offer with them.
Does that mean if I were to mention that my transferring would delay my graduation, there would be no chance in me getting the offer?
I hope its not too late to start applying for SA positions at other banks. I applied to very few..
I wouldn't mention it at all. That will show up on the paperwork for HR when you put down your expected graduation date. Don't shoot yourself in the foot by mentioning stuff like that unless they ask, just wait until you get the offer to talk about it if possible. If they ask about it at any point just be honest because I wouldn't say there is no chance of getting an offer in your situation. You could even ask to intern a second time around.
It's not too late to start applying for SA positions. FT recruiting has already been going on for a while and is probably wrapping up but SA recruiting is just now heating up and will be continually going on through January. If you don't get any offers by March you might be in trouble, but otherwise no worries, start networking yesterday.
Most people don't get technicals in Big 4 interviews, I'm shocked that you did quite honestly. Send your follow up e-mails and personalize them and hope for the best, but we working on the SA gigs too.
EY RE TAS Interview (Originally Posted: 09/23/2014)
Hey everyove, I have an interview with EY TAS coming up in a week. I was wondering if anyone had any insights on the interview process. What kind of questions I'd be asked in the first and second rounds. Any help is appreciated
First round is mostly fit and second round will be sligtly technical with a case.
Thanks! Outside of the case were there any other technical questions?
What about TAS internship interview? How many rounds? Will there be a case?
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