Hey guys,
So I was just approved to move into my Big 4's Transaction Services (financial due diligence work on deals) group in NYC coming up on 7/1. I already have two years of experience down as an auditor, hoping to get early promoted here in another month up to senior associate. Had flying colors internal reviews, etc. My school is tier 2-3 state school in the southeast. 3.4 cumulative GPA, 3.97 major GPA (I liked to drink freshman/soph year). GMAT is a 760. Good extracurriculars on the resume.
I want to try to lateral into BB IBD as an analyst to build my career more towards corporate development or PE in the future post-MBA. I just turned 26 in April. Any advice on how to make that happen? Any help regarding timing would be greatly appreciated. I know my best shot is going to be as an off-cycle hire. I'm already going to obviously be leveraging LinkedIn and my existing networks, as well as putting apps in on the websites, etc.
Thanks for taking the time.
You need a good reason to change careers. For example, you enjoy the financial modeling aspect of transaction services, but would like to be more involved in the deal process and apply your skills towards that end, rather than doing post-deal valuations. This is the story I used.
Also, you should definitely consider widening your net to include non-BB. Many smaller firms like their analysts to have some experience in big 4, and you could always try to lateral to a BB after a year or two.
Big 4 Transaction Services (Accounting Advisory) to IB (Originally Posted: 03/11/2015)
Hi everyone, I recently got an internship offer in the TS (accounting advisory arm) practice with one of the Big 4. I think the practice is great but my long-term plan is to go into IB. With my current GPA of 3.5 (also, I come from a non-target school) I'm not sure how good my chances are of getting an IB internship. Any thoughts on whether IB is worth applying to after my TS internship considering my current conditions or simply continuing in TS for a while before making the transition.
Worth applying for IB, particularly if you can demonstrate strong grasp of the 3-statements, proper normalization of EBITDA and potential accounting, QofE, QofS or working capital issues.
Better shot at going into valuation... pm me
(1) Are you audit, advisory, or tax? (2) What is your degree?
I am majoring in finance and accounting. I believe TS falls under the Assurance practice.
Is Big 4 TAS a good route to IBD? (Originally Posted: 01/19/2012)
edited
Big 4 TAS is a good entry point IMO, but try to get NYC location for greatest networking potential. I had the opportunity but I just couldn't do the Big 4 haha. Just out of curiosity, what is your current role at the commercial bank?
It's possible but not a guarantee-a good number of people make the jump but a lot more want to and fail. It's also a very steep drop-off in conversion rate after the first few years (people lateral to analyst roles)-I know very few who were mid/late 20's who made it work. I would not take a big step back in QOL to work for a "maybe" proposition.
First post, I'm also interested.
In the UK, Big 4 graduates in TAS enter a 3 year training contract to become a chartered accountant.
Say if you were to get lucky and lateral to BB IBD after this 3 year training contract, would you have a higher salary than the other analysts who came straight out of college/university?
Vodking - no, you will be on the same salary level as whatever year you come in (1st, 2nd, etc.)
I made the jump - it's possible. I was laid off from Deloitte Business Valuation and had good traction with MM / Boutique IB's. Not so much BB's.
Bonobochimp, just to have an idea of what is possible: For how many years had you been working at Deloitte when you got laid off and went into IB? Secondly, in practice how did you go about applying for boutique IBs (personal applications or through head-hunters)? Thanks ;-)
Big 4 TAS to IBD - Possible? (Originally Posted: 03/05/2010)
Want to get IB Insider opinions on the exit opps into BB/MM IB within FIG or Generalist 2nd - 3rd year Analyst positions from Big 4 TAS - Structured Products - 3 years of experience - top rated Associate. Is it possible? How would one go about it? I'm not in the NYC area but in a major metropolitan area and looking to relocate to NYC (only a train away).
Been applying to positions on Doostang with little to no success. I feel my location would leave employers with the assumption of covering relocation costs and immediately disregard the resume. Tips/comments welcomed.
-TIA
Impossible might be a strong word, but you're probably better off doing an MBA or aiming at boutiques and small PE funds. 2nd year analyst positions at larger places go almost exclusively to people with prior BB experience
I'm also curious to know. It seems to me that a lot of the skill set and experience from a TAS background could be directly applied to IBD.
CDOMonkey - I will be applying for Big4 TAS positions, and I'd like to ask some questions. If you're willing to spend a couple of minutes in giving me some advice, please PM me, and I'll PM you some questions.
Dyor - feel free to shoot me the PM anytime. I'm more than willing to discuss my experience within Big 4 TAS and answer any questions you may have.
Regarding the MBA path, I'm currently in the process of going through with the "high-touch" method for several of the Top 10 programs. Would like to have a complete candidacy prior to applying. It's a long process, but I'm enjoying it thus far.
Thank you for the feedback everyone - much appreciated.
Get top MBA and your chances will increase 1000 fold.
I don't know too many ex TAS guys in banking but I know quite a few in PE (including the big shops believe it or not) and they tend to do very very well. Getting a decent MBA beforehand seems to be the prereq though.
It's going to be a bit of a tougher sell in this market. You have good job right now, though? Stay at Big4 for 2-3 more years.
TAS (Financial Due Dilligence) > lateral to IB Associate? (Originally Posted: 11/15/2014)
question answered, thanks question answered, thanks question answered, thanks question answered, thanks
Advice appreciated! Ready to gtfo of audit.
double post
Hi Soros, wondering if you've made the transfer and if you could share some insights on it. I'm also a big 4 audit who just made senior, is trying TAS in my firm and other big4 but the chances may not be too optimistic due to the line's highly competitive nature, while GT's recruiter for their TAS has reached out to me to set up an interview. So far do you think "would still have access to the same exits than if I had stayed in audit, plus other better options" will stand in my favor? Thanks in advance!
Big 4 TS -->IBD Associate? (Originally Posted: 07/01/2011)
I am currently interning in a TS/TAS practice at a Big 4 firm. Its not banking, but all the same I am enjoying it. Getting a CPA is a goal of mine, so I would like to (if offered) stay in this role for a bit.
My question is, would it be possible to transfer in ~5 years at the manager level (the hierarchy is associate, sr associate, manager, etc) to an associate position at a BB? Would this require business school?
Alternately, If I were to switch to MM IBD after 2 years or so, would it be easier to break into BB without an MBA?
I attend a semi-target with 3.9+ GPA in Business Administration, concentrating in accounting.
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