Big 4 TAS to Investment Banking

Anthony-John's picture
Rank: Monkey | banana points 38

I spent 2 years in audit at a Big 4 and transferred internally to their transactions advisory services group (TAS). Like everyone else here, my end goal is to work in banking. I've started reaching out to alumni from my school although I went to a non-target undergrad. Some recruiters have straight up told me that I need prior IB experience or modeling experience.

I could use some advice. Those of you who know people who have made the jump from Big 4 TAS to IB, how did you do it? And how much time cold emailing alumni and talking to recruiters until you got noticed? I've spent about 3 weeks now looking and all I got was a phone conversation with HR from 2 banks telling me they are really looking for candidates with prior IB experience. I already have a Master in Accounting and don't want to pay the money for an MBA... But seems like that might be the only way to break in.

Comments (12)

May 2, 2018

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GunningForPortfolioManager

    • 4
May 1, 2018

It's too risky. I'm not really at a point in my life where I want to quit my current job in TAS for an internship that may or may not materialize into a FT offer. I'm in a high COL city and my rent is high AF. It's not like TAS is that bad. Directors and MDs make really good money (not banking $$$ but still better than most and have a shot at making partner).

May 2, 2018

its always better in banking...most of the time

GunningForPortfolioManager

    • 3
Best Response
May 2, 2018

Horrible advice. You're what, a soph / jr at a non-target with no relevant exp? How about you break in first (or at least graduate lmfao) before doling out advice to people who have real work experience.

    • 2
May 2, 2018

ok

GunningForPortfolioManager

    • 1
    • 2
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May 1, 2018

I was in audit for 2 years and jumped to a ~30 person boutique through some consistent networking and eventually nailing a modeling test. I was actively looking and reaching out for roughly 8 months and got my ass handed to me in a few interviews.

You will have an uphill battle trying to go BB with no IB experience so I suggest you focus on some smaller banks in your current city. If you really want BB you can lateral after that. Make a connection, ask to get a coffee, hop on the phone, etc. There's plenty of other threads on the topic of audit/TAS -> IB so i suggest you poke around on here.

    • 1
May 1, 2018

Thanks. I've only been focusing on MM and elite boutiques. Maybe I need to bring the bar a little lower. How is the pay at your boutique? I just don't want to join a boutique bank get paid shit and work 70+ hours per week. I know some people here are willing to do anything, but I'd rather go get my MBA from a top school and come into a top BB or MM as an associate.

Feb 10, 2019

So I am new to this whole industry and would like to get the facts straight to understand a role and firm, namely an M&A associate role at a BDO, Grant Thornton kind of firm which is serving the mid-market here. I was wondering if these are worth it and what are the potential opportunities after? Note that this is from a European perspective. I mean, as I understand, these guys don't have capital markets so they are no investment bank. But they still advise (solely) on M&A deals in my region, so I wonder if this is somehow a second best to IB? Does it count as corp fin, only TAS is mentioned?

The role would entail: Tasks vary throughout the sales process. You will work on identifying buyers and analyzing market information, conducting valuation, preparing sales presentations and writing information memorandum etc. Anything that can be said about the skills one would develop?

Appreciate any insights on this!