It would be mainly Valuation and Business Modelling, although they said as an intern I would be jumping from one team to another inside the TAS service area. It would depend on the engagements that are available. My personal objective would be, once I finish the Internship and graduate from my Business School (6 months afterwards)l, to start working in Consulting.

 

You should take this job and start to prepare for networking into consulting. Learn the cases, 30+ is good, and make sure to do well in this job to get the return. TAS will not hurt you, but you will need to be able to interview well to be able to convince the interviewer for your consulting FT.

I recommend networking in Munich as much as possible through standard means. it is an uphill road but it is possible. Transition post internship or after 2 years.

Pm me if you have other Qs.

 

There were no offers in management consulting (at BIG 4) when I was applying.

What I have to add is that TS job will give me 17% less money and I will be some kind downgraded -> in audit I will be a senior next year, in TS I will be 2 year consultant or something.

I'm a little bit skeptical about this TS offer. I think that I have a shot in a one year time in consulting (even outside BIG4) and if TS will not be interesting my exit opportunities will be significantly limited next year.

 
MistaBooks:
You would taking a cut in pay... that doesn't seem possible...still worth it regardless

It's weird you would be getting a pay-cut, but you should expect a downgrade in level as you don't know anything about the transaction process. You can't expect to lateral over at the same level.

Also, you are correct that your opportunities will be limited in TAS. It's much more niche than audit, but a lot of people in TAS go straight into MBA programs. Former manager of mine ended up at Northwestern.

 

Right - let's say I will take TS job. And in 10 months I will say that this is not it.

I can't be audit senior because I don't have 2 years of audit experience.

My possition in accounting / controlling will be downgraded because probably I will stop my CPA

My exit opportunities will be limited. Probably if working very hard that year I could try to lateral into IBD but chances to get an offer will be slim.

Let's say I will stay in audit. It's a shit job. Ok. But I have almost one year to prepare for i.e. consulting recuitment and then change audit for better than TS pay and better than TS opportunities.

Please check my reasoning.

(position is in Europe, don't know exactly the team but probably FDD / Restructuring)

 
Best Response
TurboMonkey69:
Right - let's say I will take TS job. And in 10 months I will say that this is not it.

I can't be audit senior because I don't have 2 years of audit experience.

My possition in accounting / controlling will be downgraded because probably I will stop my CPA

My exit opportunities will be limited. Probably if working very hard that year I could try to lateral into IBD but chances to get an offer will be slim.

Let's say I will stay in audit. It's a shit job. Ok. But I have almost one year to prepare for i.e. consulting recuitment and then change audit for better than TS pay and better than TS opportunities.

Please check my reasoning.

(position is in Europe, don't know exactly the team but probably FDD / Restructuring)

Sounds like you've already made your choice despite everyone else telling you to go TAS. Not going to check anything, enjoy life as an accounting manager; the longer you stay in audit, the more you are viewed as an accountant without a doubt.

 
itsinthebag:
TurboMonkey69:
Right - let's say I will take TS job. And in 10 months I will say that this is not it.

I can't be audit senior because I don't have 2 years of audit experience.

My possition in accounting / controlling will be downgraded because probably I will stop my CPA

My exit opportunities will be limited. Probably if working very hard that year I could try to lateral into IBD but chances to get an offer will be slim.

Let's say I will stay in audit. It's a shit job. Ok. But I have almost one year to prepare for i.e. consulting recuitment and then change audit for better than TS pay and better than TS opportunities.

Please check my reasoning.

(position is in Europe, don't know exactly the team but probably FDD / Restructuring)

Sounds like you've already made your choice despite everyone else telling you to go TAS. Not going to check anything, enjoy life as an accounting manager; the longer you stay in audit, the more you are viewed as an accountant without a doubt.

Agreed. It looks like you have made up your mind or at least know what you are leaning toward, despite what people are suggesting.

Understand that of course there are risks involved with what you are considering (i.e., taking a pay cut for TS, opp cost of not making senior in audit, not enjoying TS, etc). You just have to weigh if that risk is worth you having a better shot at what you eventually want to do or not.

You could, of course like you say, stay in audit which gives you an year to prepare for recruitment. But what if recruitment doesn't go well? You've invested another year in audit so now you will have 3 years audit experience instead of 2, and still trying to transition out. Would seem like you've cemented your position in audit even more in this case.

Also, why do you have to stop your CPA? I would think you can still try to knock it out even while you are in TS; there shouldn't really be a reason why moving to TS would prohibit you from completing your CPA.

 

For sure have to make sure what part of TS you're in. TS is pretty broad within the Big 4, it could mean FDD or valuation, or just accounting advisory (i.e. really tech. accounting issues involving m&a like carvouts, IFRS conversions, etc.). Its essential that you know what group you're going into, the latter will land you exit ops primarily in SOX compliance... not fun.

Hugo
 

Thank you guys for your answers.

Even if I sound that I made my choice it isnt that way. I'm just checking assumptions.

Altough I could do banking or consulting I think I have better chances at consulting world just because in my country consulting is much more developed than BB banking.

In TS I could more distinguish myself than in audit (because of more enjoyment) but the pay cut is painful (I'm saving for school) and I'm a little afriad that in case of trouble (TS not as fun as I thought, can't lateral into consulting or banking) I will be in a pinch.

Quite difficult situation.

 

There is a hope in audit in terms of exit opportunities. In two years I could make 2-3 times more than in current (possible) position in TS and I will be looking for a job a week.. but unfortunately audit is not my passion :)

It's strange with this pay cut because they were looking for an experienced audit hire with 2 years of experience. I could negotiate with them further but I don't think I will earn much more. They've got lots of applicants for this position.

In case of PV landing a PE / IBD job after TS would justify the decision but going to PE through consulting may be safer?

 
TurboMonkey69:
From the MBB recruitment standpoint if all other thing being equal would you rate (at an initial consideration) a guy with 1 year of audit experience + 1 year of TS experience higher than a guy with 2 years of audit experience?

From an MBB recruitment standpoint, you're probably gonna need an MBA from either in order to make the jump...

 

Let's assume that other parts of my application are that strong that I will have a chance to land at least an interview.

I've said MBB because they are most desirable but I will settle for any respectable 2nd tier.

 
TurboMonkey69:
Let's assume that other parts of my application are that strong that I will have a chance to land at least an interview.

I've said MBB because they are most desirable but I will settle for any respectable 2nd tier.

If other parts of your application are "that strong", then you should be able to apply right now. I don't understand why you think you'll have a better chance in one years time - if they don't have any openings now, what makes you think they'll have an opening in a years time. Having one more year in either position does not increase your chances of breaking into consulting; if any, it hurts your chances as you've spent one more year in an industry completely unrelated to consulting and are further viewed as an accountant. Based on your serious desire to remain in audit, inability to accept the 100% consensus that TAS > Audit, I'm seriously beginning to wonder if you're just a troll.

 

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