Help Me Decide-Transaction Services
I need help deciding what I should do next year. I have a few offers outstanding, one of which is in Transaction Services in the Big 4. I was just wondering what people thought of these jobs, what they do, and how and what the career track and possible exit opportunities are. My office works with 80% of their clients being PE firms, so would that be a viable exit opportunity? Any help you guys could give me would be much appreciated.
TS groups typically perform accounting/financial due diligence for PE firms. To be more specific, they put together reports that detail P&L (revenue and operating expenses) and balance sheet(Working cap) trends and help the PE firm arrive at an adjusted EBITDA amount. The work typically involves interacting with the investment bankers, minor interaction with the management team of the company being sold, and lots of sorting through data dumps trying to identify relevant trends in the business. I'm currently in b-school but my previous work experience was with an in-house due diligence group at a large middle market PE shop. We prepared reports that we very similar to the reports provided by big 4 TS groups. Exit opportunities include boutique investment banking, deal teams at PE firms, corporate M&A and occassionaly CFO/Controller type positions. Five years ago TS groups didn't hire undergrads directly into their group but that seems to have changed. What is your desired exit? BTW salary and bonuses are more inline with public accounting positions and not even close to i-banking or PE compensation packages.
Thanks Mtones.
Great reply. I was aware of the lower salary and bonuses, I'm just more concerned with what I should do. I have offers in tax from other big 4 but am very interested in TS now. I think it will have better exit opportunities and be more interesting. Ideally, I'd like to get into PE, and since the majority of the deals this office does with PE firms, that could be very logical.
If your ultimate goal is to get into PE then working in TS is definitely the correct choice. TS will give you much more exposure to deals, PE firms and bankers. If the choice is between tax and TS then its a no brainer...TS all the way.
good luck
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