TS at KPMG VS M&A at Deloitte

the_rainmaker:

theyr essentially the same but id choose m&a deloitte

Thanks for your reply. I think they are the same too. Could you elaborate your reason? Thanks a lot.

TDSWIM:

I don't think it really matters what M&A is under, you won't be doing internal control stuff in that group. Given those two options I'd go with Deloitte. Better brand name and you will get to work around deals. The fact that you aren't doing any valuations work is not really that good, but it'll be a jumping off point to spin your story of becoming interested in banking I suppose.

I asked (probably should have clarified) because if it's Deloitte Corporate Finance, then the obvious choice is Deloitte since that's middle market investment banking. If Deloitte Advisory, then it's either Valuations or Due Diligence. I would still pick Deloitte due to stronger brand name, but the difference between the two isn't nearly as big.

Edit: Just read what LevFinGS said and agree wholeheartedly. Figure out which group within M&A Advisory you'll be apart of. My guess is Valuations since FDD typically doesn't hire out of undergrad. Supposedly there's been a recent trend towards not requiring audit experience, but I don't think it's that pervasive yet, if at all.

LevFinGS:

I think people here are quick to say one or the other without understanding. Both groups I'm assuming are the due diligence team. In this case it doesn't matter. I think it's important to be clear here. As far as my understanding goes Deloittes M&A team under AERS to which you refer is the same type of due m&a diligence team that falls under TS at pwc, and TAS at e&y, and same for kpmg.

Once we're not talking about the MM boutique bank work at big4 ur left with two routes in terms of ibanking skills within the structure. Either Valuation which entails heavy modeling (some predeal, mostly PPa, goodwill impairment, fair value of equity/debt) or the M&A due diligence side which really does the deal analysis, going through documents/financials and less of coming up with the value analysis. For Deloitte, it is rare to do the due diligence side without being in audit first (they don't hire undergradS, but that doesn't specifically say anything with regards to the work being more interesting than anything else ). Other big4 hire DD direct out of ugrad. And all big4 hire valuation ppl out of undergrad.

I think the modeling aspect of valuation is more important than due diligence if ur trying to break into banking. T/f if u mean m&a Deloitte (under AERS) versus valuation work at another big4 then do valuation. If its DD at both it really doesn't matter except for the fact that direct from ugrad is rare at Deloitte and mostly evryone is ex audit- might impact culture.

Thanks for your reply. Do you know if Deloitte hires undergrad for their Corp Fin Group? Did you intern/work there before? Thanks.

oldmansacks:

Deloitte Corporate Finance is by definition a middle market investment bank. You will work on deals, valuation, dd, pitches just like any other bank. I would also take a look at the senior "bankers" at Deloitte, they come from pretty impressive backgrounds...

http://www.deloitte.com/view/en_XA/xa/bankers/f5f71c2a915fb110VgnVCM100…

KPMG TS is not KPMG CP. If you already have an offer for KPMG TS take it.

Not sure if you saw what I wrote right above you. But the OP is not referring to Deloitte corporate finance. He's referring to deloittes m&a transaction advisory group which is equivalent to the "M&A due diligence team" at other big 4s.