Accounting firms M&A Division
I am currently a finance and accounting major at a non-target. My school is known for accounting and has a very small presence on the street. How are the Big 4 and large regional firms M&A practice viewed on the street?
Links: Grant Thornton http://www.grantthornton.com/services/advisory-services/transaction-adv…
EY http://www.ey.com/US/en/Services/Transactions/Lead-Advisory
Deloitte http://www.Deloitte.com/view/en_US/us/Services/additional-services/merg…
I noticed that I see a lot of PwC alum on the street compared to other firms. Is an firm better than the other for this division?
If anyone has experience in the division could you share what the career path is and how comparable it is to IBD?
Thanks
Pretty sure GT is winding down most of their Corp Finance in the US, though they are fairly big overseas, which is true for a lot of the accounting firms. Unfortunately I don't have much else to add.
If your goal is to break into IBD, then try shooting for this Deloitte: http://www.deloitte.com/view/en_XA/xa/about-us/
It's the MM IBD arm of Deloitte, whereas your link leads to the M&A due diligence and price allocation part under Transaction Services I believe.
This thread would be great for you to refer to:
http://www.wallstreetoasis.com/forums/the-forgotten-ibd-big-4-corporate…
Note, the links you posted are transaction advisory (TAS or TS), not Corp Fin. It will be more difficult to break into MM IB/PE from those groups, but still possible. I would try to work in those groups for a few years and then move to Corp Fin internally.
At best, you would lateral to a MM IB shop or PE. You aren't going to BB IBD from Big 4 M&A.
It depends on the group. Historically, they have been weak in the US and strong overseas, particularly in areas where well-known IBs aren't present. However, with Deloitte's acquisition of McColl, there is a push to boost corp fin groups.
Accounting firm M&A (Originally Posted: 10/09/2013)
Ok all, spare the degredation, but I am passionate about m&a and need to take what I can get and won't be able to get into an IB or MM firm.
So, I am wondering if anyone has any experience about the M&A teams in accounting firms (in this case not even big 4, its a mid-tier accountant). What is the work like? What exactly do they do?
Thanks.
Also interested, exact same situation as you, I think my best chance at BB M&A is transitioning through a big 4 audit M&A.
Y'know what shops like Lazard, Evercore and Moelis do in their M&A teams? Running deals, but palming off the underwriting to someone else?
It's just like that at the Big 4 firms. Except that underwriting isn't really needed so often when you're looking at deals under the US$500M mark. Plus the Big 4 firms also don't get to enjoy the kind of fees that BBs charge, so your comp is going to suffer accordingly. But hey, look on the bright side - you'll still get a decent salary and not have to work yourself half to death, and while you're not going to be moving to KKR from a Big 4 firm, I know people who've made the move to buyside places, BB/MM IBD, and to corporate development. Not a bad gig, on the whole.
thanks, very enlightening.
In my case, this is how I'm thinking. With my background (uni prestige, experience (one internship),..) I figured that getting an M&A internship at a Big 4 audit firm would then help me land an M&A internship at BB. Getting that first summer or offcycle internship at an IBD M&A group is crucial for later if you want a full time offer. Wouldn't an M&A internship at a big 4 be better than say an internship at a BB in sales, trading, whatever (but not M&A).
Here's my plan:
-finish current internship at BB (finance) -find another internship, hopefully in some kind of M&A group (BB or big 4) -master degree in top european school -secure summer internship with BB -finish degree -..... maybe full time offer?!
Are you talking Europe or U.S. OP? Big difference.
Actually Im talking Australia. And like I said, not big 4 even, talking mid tier accountant
firm name won't take you far, but relevant experience will.
Not familiar with Australia at all. From a U.S. perspective, it depends on the shop. Some have strong MDs at the top with legit experience (ex-BB or strong MM shops). Others don't.
It's all about who you will be working for and what you can learn from them IMO.
So what are the difference in Big 4 M&A in
-US -Europe -Australia
?
They are vast. Big 4 M&A is strong in Europe and some other parts of the world. Not so much in the U.S., though Deloitte is trying to change that.
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