Can anyone briefly answer the difference between what someone would do in an M&A Advisory at consulting/Big 4 compared to IB M&A work? Sort of a how is it different, and how is it similar? Thanks if anyone could answer.
| +29 | Nervous about MBB - incoming BA | 18 | 1d | |
| +11 | Premed to MBB Recruiting | 2 | 10h | |
| +10 | Chances at MBB - Reality Check | 1 | 22h | |
| +9 | Lateral to MBB from Investing Seat | 1 | 6h | |
| +6 | How much do your MDs make? | 1 | 4d | |
| +5 | Restructuring market | 4 | 1d | |
| +1 | Portfolio Operations Group--DFW area | 2 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Hey FinBall4, sorry about the delay, but are any of these useful:
More suggestions...
You're welcome.
The M&A work within the realm of consulting really breakdown into the different functions: There is Due-Diligence before an acquisition, there is valuation advisory held by the Corp. Fin. arm of the Consulting groups (like Deloitte/EY Corporate Finance), and then post-merger integration: merging HR Benefit plans, merging IT Systems and Data Integration, Cultural integration, Operational integration.
What I've seen is that M&A in the consulting realm refers to the wholistic process of merging a company with another aside from the financial analyses/rationale that make up about 20% of the M&A work.
I have not worked in IB, and do not have the best understanding, but from what I've seen, IB M&A team focuses more on the strategic and financial rationale of the companies, they help define why the merger makes sense, prepare a comprehensive valuation model that capture and quantifies the strategic rationale (shared distribution channels, cross-selling capabilities, cost savings from administrative capabilities).
From what I've seen, the IB firm does not aid in the post-merger integration as a consulting firm would.
I work in IB, and I agree with this comment.
Thanks for your help, really appreciate your insights on consulting M&A work.
The actual M&A team focuses on the execution/structuring of the deal whereas the coverage group will help define the actual rationale / strategic part. The bankers will lean on the M&A advisory consulting firms for financial/commercial diligence during the deal but the company will lean on them far more for the integration process across all functions
Yep this is correct. One additional caveat though is that the big 4 firms will have their own M&A Advisory / Corporate Finance teams that do actual IB work but for lower mid-market / mid-market deals
Esse excepturi debitis et minima veritatis nisi tempora. Eveniet amet qui aut recusandae. Harum sit eligendi fugit assumenda et consectetur. Omnis quibusdam voluptas sit tenetur. Ullam minus doloribus qui corrupti. Porro esse dignissimos quas illum facere.
Explicabo rerum excepturi est in sunt porro eius veritatis. Qui veniam nam totam modi et repellat fugiat. Sunt ut autem sed non consequatur perspiciatis expedita. Fuga nam libero qui non vitae aut. Qui officia et inventore maiores architecto. Qui deleniti autem accusantium molestias.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...