Deloitte S&O (M&A) vs corp. dev (M&A)
Does anyone know if Deloitte S&O (M&A) do lots of actual M&A deal?
From the job description it looks like more pre-deal (M&A strategy, framework in selecting targets, synergy estimate) and post-deal integration work rather than working on actual M&A deals.
The corporate development role will be purely on M&A and have large deal volume.
I am looking to gain more transaction experience under my belt so that I can pitch for PE/IB later on.
Thanks
Deloitte corporate finance LLC is more what you're after.
You are correct. They have a "Deloitte Investment Bank" that falls under advisory, not consulting, that functions similar to MM IB (although easier hours, lower pay, and easier time since they usually don't have to source their own deals).
this is wrong - the "M&A groups" at Big 4 (aka what everyone calls the "fake investment banks") mainly perform due diligence for PE clients. The people there are very competent (I know quite a few), but they execute absolutely 0 sell-side advisory
You are wrong. Deloitte has a M&A group within S&O that does M&A strategy, PE DD, PMI, Day-0 planning, etc. They also have an investment bank within advisory that does classical IB work.
S&O M&A:
http://www2.Deloitte.com/us/en/pages/strategy/solutions/about-our-mergers-and-acquisitions-consulting-services.html
Deloitte investment bank:
http://www2.Deloitte.com/xa/en/services/mergers-acquisitions.html?icid=top_mergers-acquisitions
Here's a link explicitly talking about their sell-side advisory:
http://www2.Deloitte.com/xa/en/pages/corporate-finance/solutions/mergers-acquisitions-advisory.html
Don't listen to this guy. 100% wrong.
Deloitte S&O's M&A team, as @hillary2016 mentioned, performs due diligence on M&A deals, often for PE firms acquiring new investment companies. These due diligence projects are, quite simply, to ensure that the target acquisition's projections and assumptions are sound.
If you want to transition into PE, it's not a bad bet. However, it's going to be hard to transition to IB because you're not really working on the deal-side, it's the operating-side.
Corp dev. No brainer.
Yea, go the corp dev route. Most of the work in the M&A practice is post-deal.
Again, not true. M&A in strategy consulting is pre-deal but not focused on the terms of the deal but rather is due diligence on target acquisition(s) and how it would work out for the acquiring company. Less corporate finance and more corporate strategy. Yes, consulting firms do indeed perform lots of post-merger or post-acquisition work such as creating target operating models or systems integration but that's not what OP is talking about.
The Corp Dev role will get you deal experience you want, but how many people go Corp Dev > Banking? Typically it's the other way around. OP - care to provide a bit more context? Do you plan on pursuing an MBA? If so, Corp Dev > MBA > IB seems like a pretty good strategy. If you're post-MBA, Corp Dev > IB might be pretty tough but, then again, you could just stay in the Corp Dev role, if acquisition volume at the company is high it could be a cool gig.
Again, I work at Deloitte S&O and have actively pursued getting on pre-deal M&A projects, and they are few and far between compared to the post-deal work that we sell. MBB does a lot more of this pre-deal work, particularly Bain.
Ok about myself, am in Asia. Non-Target Big Ten school actuarial graduate, no plan to MBA due to cost and I already make more than average MBA grads. So unless I can secure an IB/PE offer it makes no sense doing MBA.
6 years in insurance industry + 2 years in another Big 4 consulting. been involved in several M&A DD work lately and got interested in M&A deals. I am not in those Big 4 TS teams so I only do the actuarial DD part which is kind of limited scope and am thinking to get more transaction experience running the deals.
However Big 4 TS teams mostly do DD work only (Financial DD, Actuarial DD, Commercial DD, Tax, etc) instead of running the deal. They do in some MM deals (especially in Europe) but Insurance deals are never MM so there will always be an IB that runs the deal instead.
I already got a Corp Dev offer but then suddenly the Deloitte S&O M&A opportunity came up and I wonder if I should pursue it. Large deal volume in the Corp Dev role and focus on M&A only.
My goals 1) Get into PE/IB, because of money, probably in FIG as I have been doing insurance only. 2) Migrate to US or Australia, I got Aussie PR recently but no Greencard. Really liked the States but the H1B cap in 2007 broke my American dream.
From all the comments it seems to confirm my understanding that Deloitte S&O M&A is more about post-deal integration rather than running the deals. Looks like the Corp Dev role will set myself up slight better, though I understand it is still a long shot to PE/IB.
One last bit to think may be if Deloitte S&O M&A will be a great transfer route to any US offices? Since Deloitte consulting practice is a much bigger and better name in US.
What I know about Deloitte S&O M&A group (the one that is marketed as DeloitteMonitor) - They do NOT do financial due diligence (e.g. quality of earnings). They will do operational/commercial due diligence - They are not involved in advising in deals like an Investment banker would be. - The one person in Deloitte S&O M&A I talked to this year said while projects span pre-deal, divestitures, integration, most of his work was on the integration piece (more operations related). Everyone's experience will be different but my feel is that a minority of the work is pre-deal strategy type work.
I think you need to talk to the staff in the Deloitte office and get the mix of projects. You also really need to evaluate the Corp Dev team, what your role will be, and what the deal flow is.
If you want to do IB, I don't think it matters which one you do. You should start either role will the goal of only doing the job for one year and starting an analyst stint in the next class (e.g. start networking and get your story together). I think Deloitte would give you better broader skillset and you'd enjoy being around of young professionals (and you'll get used to being a powerpoint monkey). CorpDev would give you more transactional experience, but the experiences you get could be hit or miss and you likely won't get formal training.
Monitor Deloitte is not M&A, it's Strategy
crymeariver, If your goal is to do PE/IB I think the corp dev path is difficult because when applying to IB/PE people are going to ask why you are stepping backwards. or at least that has been my experience. I went into a corp dev role at very acquisitive company and when I applied for IB jobs I would get questioned on why I was interested if I was already doing corporate development.
Yeah I know it's difficult but then that's the only option I got right now. My options are quite limited at age 30 with only actuarial experience up to now and couple actuarial DD consulting work. All these are very irrelevant to IB/PE.
I am hoping to spin myself around as an M&A Actuary, specializing in insurance deals. Then pitch for FIG group IB or insurance heavy PE. Betting on Insurance requires specialized industry knowledge and valuation metrics are different to other industry group.
It's is long shot anyway, if unsuccessful then I will probably just stick in the corp dev/move to strategy work/go back to an actuary
Hey I totally understand. Keep plugging away and make your dream a reality.
That's still a much better position to be in than "So what about your background is relevant to working in finance"?
Have you heard of leapfrog investments? Seems to be right up your alley
Veniam vel eligendi qui aut enim veniam. Repellat atque non sapiente ut cum qui. Sequi et fugiat culpa illum sapiente reiciendis.
Quo velit voluptas dolorum ut dolorum officiis velit sed. Quos dolorem dolores sint sapiente similique ut.
Quis provident atque error dolores. Omnis laborum ut vero aliquid consequatur aliquam. Quia et et nesciunt quidem.
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...