Looking for some insight if anyone can help me. I just got hired by Deloitte to start next year doing Financial Services tax after I graduate. While I enjoy tax (to the degree one can enjoy it), I'm trying to plan ahead for my next move, which is probably 1-3 years down the road. I was looking at Deloitte's website and I saw that they have a Corporate Restructuring Group (an area which sounds interesting to me). My question is, does this group function differently/separately than Deloitte's corporate finance arm? I've seen a few postings on their website for Distressed M&A vs. CRG jobs, but are the job functions different than the CR group? Is CRG more compliance, BO roles or do they do similar things like at firms such as HL, Lazard, ect.? Any clarification from someone, maybe with some experience, would be much appreciated.
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CRG is operational restructuring which is in line with what firms like AlixPartners and Alvarez and Marsal do as opposed to financial restructuring which Lazard and Blackstone do. CRG isn't BO, but does require more accounting knowledge and will probably end up being the easier one to transfer into. operational restructuring firms tend to have a decent amount of CPA's on staff. the work will be infinitely more interesting than audit/tax tho. Corp Fin is the internal MM investment bank within Deloitte. this is definitely the better group to be in but it is very difficult to switch over from audit/tax unless you know some ppl high up in the group. another thing to note is that the restructuring market isn't exactly thriving right now so transferring to CRG could backfire if they start to lay ppl off -- altho i guess you could always transfer back to audit/tax.
one question i have for you is, why did you choose tax over audit? you seem like you are interested more in the finance end of things. transitioning from audit would be a lot easier (altho still difficult). being in tax you will definitely get pigeon-holed as an accountant.
I went with tax mainly cause I knew I would absolutely hate audit. Now, gaining insight into a company's financials is definitely interesting to me, but everything I heard about what audit does sounds like I would blow my brains out after three months on the job. Tax is at least a little more interesting because 1) it has a higher value add for a company IMO than audit, and 2) tax is based on the more legal application of tax law, versus BS rules the PCAOB came up with (not saying tax law is better, but I was a poly sci major for my under grad and tax is essentially law + politics). I do like finance a lot more, but it developed after entering my Master's program. Hard to change directions with only a year from graduating. I figured it would be easiest to get into a Big 4 (check), kick ass, then either transfer to something else or go for an MBA, so that's what I'm looking at. I'm definitely trying to make the jump ASAP, before I get "pigeon-holed".
BTW your post was very helpful, thank you.
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