big 4 deals vs IB
would like to know the main differences in what IB analysts do and big4 associates do. is there a difference in the work done at IB compared to big 4 firms or is it the same?thanks to anyone that answers.
would like to know the main differences in what IB analysts do and big4 associates do. is there a difference in the work done at IB compared to big 4 firms or is it the same?thanks to anyone that answers.
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If Big 4 Corporate Finance, then it is similar to traditional IB.
Deals advisory is pure TAS work... meaning buy side or sell side due diligence. It's accounting heavy (or potentially tax, operational, etc.), monotonous, boring, commoditized shit.
is the US presence large for the big 4 Corp finance divisions? currently in audit for pwc. I have gone over acquisition work that PwC does. The work was valuations of acquired companies statements. And it was review of the work that was done by the third party that helped the client complete the acquisition. something I have zero interest for. trying to piviot to IB. but did not want to be ignorant to what pwc offers in the US. thanks
There are dozens of threads on the topics if you try and search. Big 4 CF is much stronger internationally than within the U.S. Of the Big 4 in the U.S.:
Deloitte - DCF is the best of the firms b/c of its acquisition of McColl and ability to win decent mandates for MM businesses
KPMG - clearly in the second spot b/c it also has a well-established practice, acquired a few firms over the years and will be on some decent LMM deals
PWC and E&Y do very little, but occasionally will have a decent mandate. I've also seem them doing quite a few sub $5mm EBITDA deals.
None of them compete well in bake-offs with MM shops.
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