Strategy Consulting VS Transactions/Deal Advisory (FDD, Valuations)
The Strategy consulting option is with Accenture Strategy. The Transactions/Deal Advisory option is with a Big 4 firm, comes with the ACA accounting chartership (equivalent to the CPA) and there's a possibility to work in corporate finance. Both options are entry level, salaries are similar for the first 3 years. These options are in the UK but I'm interested in working internationally as well.
Leaving aside how interesting the work is because that depends on the person, which of these two career paths do you think is better for each of these factors:
- Working hours/Stress level
- Job Security
- Long term pay
- Exit opportunities
Based on the most helpful WSO content, let's break down the two career paths based on the factors you've listed:
Working hours/Stress level:
Job Security:
Long term pay:
Exit opportunities:
Both career paths have their own merits and can lead to international work opportunities. The choice between them should also consider your personal career goals, interests, and the kind of work environment you thrive in.
Sources: The Efficient Career Hypothesis: Almost All Jobs Are Priced In, Why the focus on exit opps?, Who is happy & satisfied with their current role?, The Path to Least Resistance: Why IB May Not Be What You Really Want, Is IB not as attractive anymore?
Would go with the transactions/Deal Advisory and possible corporate finance work. If you can build a three statement model with lending criteria and IRR,MOIC and couple that with in the weeds accouting due diligence work, you would be very valuable to PE firms, large company FP&A or other consulting firms.
Thanks. Can I ask why you would prefer the deal advisory/transactions route over strategy consulting? Which aspects are better than strategy consulting, what are the trade-offs in your mind?
Without a doubt take the strategy consulting role with Accenture over deal advisory at a Big 4. Financial due diligence makes you a strong candidate to break into IB, and then from there into PE (if that's your end game). However, you would be among VERY few that could break into PE directly from a Big 4 TAS role. You are not building 3-statement models in deal advisory, whereas that's where you're very likely to be getting experience with in strategy consulting.
maybe depends on the firm or line of work, but you can definitely get experience modeling in deal advisory. i get a TAS person doing quality of earnings has no clue how to do that, but in the broader group if you get staffed on different types of assignments, you would likely get this experience. I don't get how in strategic consulting you would get modeling experience
Would do strategy at Accenture. Easy to go other way around.
Easy into finance from Accenture strategy? In what field? (transactions type work, IB, PE?)
But do you need to make sure the projects you do in Strategy are in this area? Which is not gaurenteed I think given the nature of resourcing in consulting.
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