BB IB (FIG) or Big 4 TS (Due Diligence) -> PE? Advice/experiences?
I'm in my 30s, back office background, but broke into front office a year ago (small advisory boutique).
My long term career goal is private equity, deal team. Figure breaking into BB IB would be optimal route there.
I have two opportunities before me atm: (1) Big 4 TS DD (offer) and (2) BB IB FIG (at 2nd round interview).
Both have strong plusses:
TS offer is the bird in the hand, and I won't have forever to accept. I'd be assessing bigger deals than I am currently, and compared to FIG I'd be assessing 'regular' companies. And while it's not lead advisory, I figure there's a good shot I could lateral back into advisory (Big 4/IB) and/or even PE direct down the line.
FIG on the other hand, given it's a somewhat specialty area, has some pigeon hole risk, re PE firms that invest in 'regular' companies (most). But then, it's lead advisory. In a BB. Its own bird in the hand (and also potential to lateral internally to a more PE-relevant coverage/product group down the line...).
Advice/experiences welcome.
Very interested as well. Facing a similar choice (except not BB fig but a larger boutique generalist)
My fear is that it may be hard to move back to ibd or even lateral to the big4’s own Corp fin (ibd) arm after moving from banking to TAS.
I’ve seen some posts here about consultants moving to PE after working on commercial due diligence projects, which apparently translate well to the work you do in PE. However in majority of those cases the consultants came from Bain/LEK/Parthenon.
Go with IB. TS/DD will only give you exposure to one specific area of the deal process.
btw OP, can you clarify whether this DD is financial, operational, or commercial? Also is this group under the firm's Strategy practice?
It's financial DD. And it sits in the Transaction Advisory practice.
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