Big Four Corporate Finance divisions
Hello all,
I'm a senior graduating in December looking to get into one of the Big Four's corporate finance divisions. First, a little about my background. I don't go a target school, in fact it's a regional state school (the kind with a direction in the school title :( ) and my internship experience throughout my three and half years of undergrad has been in accounting (at small CPA firm for half a year and at one of IBM's regional sites for a little over one). My GPA is decent at 3.84 (probably will be around 3.86 when I graduate) and I recently took the GMAT and got a 720 (scored a little low because I was too nervous). I understand just by browsing here for the last few months, landing a full-time position in IBD come December is an up-hill battle (pipe dream). So, I try to adjust my expectations. I'm talking to two alums, one working at Lehman in Asset Management and another at TIAA-CREF -- just to get my foot into the door of a semi-respectable investment organization, but I'm not expecting too much.
Which is what brings me to the Big Four Corporate Finance divisions. I've read here that such positions are similar to what MM boutiques offer. Due to the limited resources of my school (almost none) and my personal lack of contacts, I don't have a clue as to how to work towards getting such a position or any other position in PWM, hedge funds or private equity. While PWC and KPMG somewhat recruit at my school (for auditing though) and probably for one of the smaller, regional offices, I doubt those recruiters have even heard of CF. Can anyone offer me any advice regarding recruiting for Corporate Finance? Any other general advice for what a person in my position should do to get an analyst position PWM, hedge funds etc. would be greatly appreciated too. Thank you!
Edit: I'm currently in Connecticut, but I'm looking to relocate to NYC, Boston etc.
If i were you, I would try to get interviews with those recruiters at the Big 4 firms and express your interest in their advisory/corporate finance divisions, i guarantee you that the recruiters have heard of it, especially advisory. corporate finance however, may function as a separate entity from the actual accounting practice (structured as an LLP), while CF will prob be structured as an LLC. I know it doesn't sound like much but its a bit of red tape to fight through.
Big 4 advisory practices might be comparable to MM boutiques on paper, but the experience/compensation/environment is likely miles a part. However, it is a start if you want to just get some experience under your belt. good luck.
I'd look into Deloitte, if you are from CT. They have offices in Stamford and Hartford and both get some really big companies, esp. Hartford. Deloitte also has a division called Deloitte Consulting that advises clients on transactions. KPMG has a similar arm as well, but I can't remember the name.
Be careful with the term "corporate finance." Corporate finance can mean internal finance ops of a company, which is nothing too special; every F500 company has a corporate finance group that does all their internal finance functions.
Don't give up on BBs. Were you active on campus? Did you pay your way through school? Did you play a sport? If yes, that, plus your GPA, plus some decent accounting/finance knowledge could give you a shot. Definitely don't give up on MMs. Jefferies, Cowen, William Blair, Harris Williams, Canaccord, etc. are all still just beginning their hiring. There are dozens of smaller places in New York and a decent amount more in Boston and Philly.
Don't look just at Big 4 advisory either. Take a look into audit. You might not love the work, but you can work in Hartford or Stamford, live cheaper than in NYC/Boston, and get a great name and reputation on your resume. Deloitte was just named the #1 place to start your career at for business majors (might not be totally true, but it is a great place to begin for many people). I know a ton of people who have gone from audit to another position to MBA and then get tons of looks at BBs as an associate.
If you really want to do banking for a career and not just for the money right out of school, pick a job now that can set you up for a position at a BB in the future.
Oh, one other note. Take a look into financial rotational programs like GE, Raytheon, EMC, Lockheed, Microsoft, etc. Lots of these guys go into CorpDev after and make a real good salary with half the hours that bankers have. Or at the very least you'll make contacts within the firm and find a good job.
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