Wanted to get some insights on potential career move - I currently work in PwC's Transaction Services group and have been there for approximately 9 months. Prior to that I worked 4 years in audit at PwC. Recently I have been granted an offer to move into Corporate Development at a subsidiary of a large public (this sub. is approx. $1.5B in revenues, with hopes to grow to $3B in the next 3-5 years). The role is interesting and I had this hopes to move into PE or Corp Dev after TS but my concern is that I haven't spent enough time in TS to fully take advantage of the experience. The Corp Dev job is more money and will definitely give me a more well rounded experience of the M&A process vs the strictly Financial Due Diligence work that I am doing now.
Any insights/recommendations would be greatly appreciate.
"I have been granted an offer to move into Corporate Development " "I had this hopes to move into PE or Corp Dev after TS" "The Corp Dev job is more money and will definitely give me a more well rounded experience of the M&A process "
I fail to see the dilemma .. take the job
Interested to hear if anyone has experience in both areas and the pros/cons of each
Take the Corp Dev job and don't look back...
*You are just auditing EBITDA now instead of a balance sheet. You'll learn 10x more in CD *Your old TS firm will now work for you *Corp dev jobs are a bit random recruiting wise, at the 2yr mark when you want to leave it may be difficult to find a spot *Read these boards, PE is incredibly difficult to break into and will be a crowded space over the next 10yrs *On your resume round up to a full year for the TS experience, 90% of people will just see you worked at PwC
The caveat to the above is if you don't like the industry or have an issue with the company/team. It is your life to live though. Best of luck.
Two questions so I can hopefully give any advice I have:
1) I am assuming you are at the late senior level in TAS, is the position for Corporate Dev manager? My only concern is that you have put a lot of time into PwC and I would make sure I got the manager title when I left given the amount of time you have spent and considering a lot of people with 2-3 years IB would be moving into Corp Dev manager roles you don't want to sit at a senior analyst role and have people hired above you instead of promoting from the inside. 2) That growth target is pretty high, so there might be alot of M&A. That could be a fantastic experience. On the other hand I would make sure that you think goals in the company are realistic as you bonus will be tied to it. Did the culture seem fine?
Overall I say take the job. As someone else said corporate dev jobs aren't plentiful and often go to people with IB backgrounds first. If they have offered you the job then I would say take it as you might have trouble getting a similar opportunity in the future without a full job hunt.
Thanks for the response. I am a second year senior so it would be another full year before manager. Staying to manager was a goal of mine but I obviously am open to leave for the right role.
I would be coming in at the Manager level. Although, this title is really meaningless at this point as it would just be me and the SVP of Corp Dev in the group. Based on conversations, the goal is to hire others down the road. While the goals of the Company are lofty, they have strong market position and fund most of their deals with cash (pushed down from the sub). Have made 40+ acquisitions since '08 so I see that continuing as it tends to be their operating model. Overall, the culture seems good of the individuals I've met and I get along well with the SVP whom I would be working for.
Well, this sounds like a great opportunity. I would take it. the logical next step in your path is probably a MBA right? So this company and the extra money could be icing on the cake for you to make the transition.
Better title, higher pay, more stimulating role that aligns with goals down the road...I think this is a no-brainer and would take the role. Congrats man
Big 4 TS Partner route or Corporate Development (Originally Posted: 10/01/2017)
I joined big 4 in Ireland straight from college, qualified in audit then made the move to TAS. I then worked hard to be highly rated and managed to secure a transfer to our New York TS practice before returning home. I now have almost 9 years experience in TS and feel like my chances of making partner in 3 are pretty good.
I have Been approached for a corporate development opportunity. It would mean relocating to Amsterdam (which my family is ok with) and it is for the largest company in Ireland (so in my circles it comes with a strong brand). Remuneration broadly the same (albeit in my current role my remuneration could increase significantly in 3 years if I make partner).
Corporate development has always interested me and it is very likely this corporate would be a client of mine if I stay where I am. The route of corporate development could lead to an FD or MD role of a region/entity.
Please let me know thoughts - after so much hard work is it a bad idea to give up the chance of partner or should I taste corporate development?
Deserunt eius labore optio laborum in et corrupti ut. Non non repellendus qui tenetur cupiditate iste et. Ab est tenetur reprehenderit deleniti voluptatum impedit. Sit ratione omnis vel qui qui nihil saepe dolores.
Alias aut qui earum et corrupti totam in. Enim eaque nemo molestiae culpa aut consectetur. Illo sapiente est ipsa vel. Illo totam minus facilis possimus. Et modi harum qui doloribus deleniti assumenda sed. Ut distinctio dolores nobis corporis in.
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...