Currently working in a mid-size accounting firm in London and looking to transfer to our '' department. The department works on M&A, Valuations, Due Diligence/Transaction Services along with a couple other things (Restructuring/Insolvency). The firm has 100 employees in a City of London Office.
What is the difference, firstly, between the advisory work that this department does compared to, say, a boutique regional investment bank? Do the people in the corporate finance departments of accounting firms refer to themselves as Accountants? Bankers?
Secondly, what would be the difference between a boutique regional investment bank and a purely 'advisory' firm and how do I spot the differences between the two? I see firms offering M&A advisory services for example, however with no mention of being an investment bank.
Would there big significant differences in compensation/deal size between the above?