Valuation Internship vs FDD
Hey everyone! I have a 3 years’ work experience (articleship) exposure to audits. I cleared my CPA equivalent exam of my country and now I am looking to change my domain to move towards IB. I want to know what would be a good start to my career. I have an option of taking up valuations at one of the major valuations firm (not a part of Big 4). My other option is Financial Due Diligence at a top audit firm (again, not Big 4, but close enough).
The role of valuations sounded very regulatory in nature. It involved complying with GAAP, tax laws, corporate laws, etc for recognizing intangibles, impairments, investments, accounting for derivatives etc. I was expecting valuations to be more analytical in nature. I was hoping to get to do research, forecast, and understand the industry, markets and the country economics. However, it starts with a 3 month internship and then depending on how things pan out, I will be either taken onboard as an analyst or given 3 more months to prove myself. The firm is global but the one in my location has a very small team currently. The pay won’t be great initially I understand, but it should at the least help me break into analytical valuations or into some sort of Equity Research. I do not know if this would help me get there. I want to know from the people who are into valuations, what exactly do they do? Are regulatory compliances a part of your job or this is some sort of work given to the team members who are into accounting?
The other option is FDD at the audit firm. Now, DD is very similar to audits and so probably will take me a little longer to break into IB, if I join DD. Also, it’s a proper employment opportunity and not internship like the other one.
Should I try applying for valuations in other firms or is analytical valuation given only to MBA grads or those who pursue CFA? I am ready to take up these courses provided I get a start in that sort of career now. I do not want to start these if I don’t get any of these jobs and end up in audits. That is because I do not wish to start my adventure into IB after 5 years. I’m 24 now. What do you all think would be a better choice of the above two? Or should I just try for Big 4, for DD or M&A maybe? Thanks in advance!
