Better to start in Auditing or Transaction Advisory Services
Is it better to take an audit position with Big 4 or start in Transactions Advisory with a smaller firm.
I have the option to go with PwC or E&Y as staff audit, or Duff&Phelps in their valuation/due diligence practice.
What is better to do: 1 or 2 years in audit before trying to get into TAS or should I just start in TAS since I have the option right now.
Thanks
TAS out of the gate and lateral to IB.
I think there are other threads here discussing this topic, and that typically TAS is perceived as offering a better jumping-off platform for doing IB later. But is that your goal? What do you want to be doing long-term?
I'd argue unless he really wants to stay in accounting, TAS is more useful.
Thanks. I would rather stay on the finance track. The only reason I am considering an Big4 audit position is everyone says its golden on your resume, but TAS seems much more interesting.
It's only golden for accounting related positions. Anything in corporate accounting/FP&A/IA type of roles heavily seek out Big 4 employees. If you're looking towards more traditional corporate finance or "high finance", Big 4 doesn't do that much for you- though not impossible to lateral to IB.
I would like to reopen this discussion. I'm in my last year of commercial engineer (main subject: finance) and want to become a finance consultant in a BigFour. But I've heard it's difficult to start as an finance consultant without any prior experience,because you have to advise to CFO's of companies who know a lot more than you and you would get lost. This guy told me (works in a BigFour) it's better to start as an auditor, so you would learn about all the underlying aspects about finance. And to make the switch to a consultant after 2/3 years. I understand you learn a lot while being an auditor, but it just seems so boring to me and less reputation/status comparing to consulting... On the other hand, if it's only for 2/3 years...
So I would like to hear your opinion/experiences on this.
Thanks
@"Benjames" - when you say financial consultant what exactly do you mean? Accounting firms use the word "consultant" quite broadly so its difficult how to speak specifically to your career goals. I was what they considered a financial "consultant" and I did business valuations.
If you want to move into something like business valuations, audit may help a little but not much. I worked with auditors all the time who had zero clue what was going on when it came to business valuations. I'd say in valuations they are more willing to take on a person with little experience than other finance fields (I had only ops experience when I got hired on). Granted you may have to go to a smaller "boutique" firm and then you can make a lateral move to a big 4 if thats your aspiration.
@"BankerC159": Thanks for your answer. Here are some vacancies where I'm interested in:
PwC: As a Finance Consultant, you'll advise CFOs and Finance Directors and their teams to optimise efficiency and performance. Today's CFO is often faced with quite a few challenges: not only does he want to make his organisation, processes and systems more efficient and cost-efficient, he is often also actively involved in setting up management information processes to enable correct and timely delivery of reports, optimisation of the reporting process, quality assurance etc.
KPMG: Junior Advisor Financial Transactions & Restructering. You will: Participate in financial due diligence exercises and data room reviews; Identify key risks and gain an insight in the value drivers and the performance of the targeted business; Add value to the targeted transaction by transforming key findings into price adjustments and proposed warranties;
Assisting in mergers and acquisition advice, valuations, project finance debt advisory services, acquisition finance in advisory and structuring and asset- and tax based financing.
Work in close collaboration with the client's M& A team and other specialists (legal, tax, pensions, environmental,...).
So if I believe you it's not necessary to perform good on this jobs without audit-background?
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