Big 4 Valuation and Business Modeling Exit Opps

Hello everyone,

I recently graduated from business school, have nearly two years in private banking (pwm sales of PE funds and AM in PE as well). I started working in business modeling and valuations at a big 4. 
 

We are based in Luxembourg. From what I was told, real valuation work is done rarely. Most of my work is verifying the models an investment bank did, check the mathematical accuracy, assumptions, facts. I also do some minor valuations based on relative valuation. 
 

I do like the job honestly. But I'd also like to have a goal to work towards. My first idea was to target the usual exit opps but since everyone here explained that valuation is more interesting abroad and that we do mostly audit assists, I wonder where this could lead me. 
 

On a personal note, I like to think that equity research would be a good fit for me as I do quite a lot of it in my spare time and have been investing for quite some time now and analysing companies, valuing them for my personal portfolio.
 

My question here is : What exit opps could I realistically expect from a big 4 valuation's position that mainly focuses on audit support ? We also do discount rates checks to see if the client's discount rates make sense and redo the models on our own and compare results.

I don't necessarily need to break into IB specifically but I am more looking to set a target for myself and see what options I have in my case.

Thanks a lot in advance. 

Best regards,

IMI

Comments (12)

Jan 1, 2022 - 12:57pm
Yardbird, what's your opinion? Comment below:

Bump.

Soon to be in a similar position in Luxembourg. Also interested in looking at the potential exit opportunities.

Jan 2, 2022 - 1:30pm
Tuco, what's your opinion? Comment below:

FP&A or in-house valuation within a fund. Moved out of big 4 valuation because I thought opps were severely lacking.

Jan 2, 2022 - 1:45pm
Tuco, what's your opinion? Comment below:

FP&A or in-house valuation within a fund. Moved out of big 4 valuation because I thought opps were severely lacking.

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  • Investment Analyst in Acct - Other
Jan 2, 2022 - 2:40pm

Currently in BVAL at a B4 in the US. Our group has had 4 people leave in the last few months. 2 left for LMM IB, 1 left for Corp Strat at a startup (this person was a senior and had a CFA) and the other went to another B4 for more pay. I want to do some sort of FP&A at a f500, which seems reasonable.

Can definitely confirm that nobody leaves to audit at a B4 from B4 BVAL. In fact, more people try to leave audit/tax and join BVAL

Jan 2, 2022 - 7:50pm
nyc.ga1, what's your opinion? Comment below:

What's the interview process for big 4 valuation? Is this similar to BB/EB or not considered investment banking. If it isn't, can people jump up from valuation at big 4 banks? Thank you

Jan 3, 2022 - 7:47am
Yardbird, what's your opinion? Comment below:

If you are from campus, at least get prepared like you will be attending a typical IB superday with a focus on valuation and accounting, it won't go wrong. 

First of all, it's big 4 accounting not big 4 banks. But yes, since modeling skills are appreciated, people do jump from big 4 valuation to investment banking at times. 

Please refer to 

https://www.wallstreetoasis.com/forums/big-four-accounting-to-investment-banking

https://www.mergersandinquisitions.com/big-4-transaction-services/

Jan 3, 2022 - 3:06pm
PeRmAnEnTiNtErN, what's your opinion? Comment below:

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