EY TAS Val vs Alvarez & Marsal Val

If you had to choose between the following two offers which one would you choose and why?

Alvarez & Marsal Valuation Services - Sr. Assoc. - 20-25% year end bonus based off hours billed.
EY TAS - Valuation & Business Modeling - Senior - 10% year end bonus, however EY is offering 10k more on the base salary

A&M work is primarily focused on Alt. Investment Portfolio Valuations (HF, PE, Credit, Distressed) for quarterly and annual reporting purposes. There is some work regarding valuations of Complex Securities too. A&M is also viewed as more of a finance shop. While valuation is not the main business focus of A&M, they do have a restructuring and IB arm. Not sure if lateraling is possible, but it's worth noting.

EY work would be broader and focuses on valuations for year end audit work. Work also includes Purchase price allocations, goodwill impairments, and some niche work regarding portfolio valuations. EY is obviously known as an accounting shop so while this is part of the trasnascation advisory group, I'm not sure that this would be viewed as "deal" exposure.

Note that I already have prior experience at a diff. Big 4 in tax as well as experience doing valuations in-house at a tier 1 alternative asset mgr. What is the better offer and why? Which would have the best opportunities in terms of IB/Bschool/or just staying put?

 

EY TAS is very much deal oriented and the year end audit stuff is mostly during busy season. The AM work you describe us what you will be doing for audit support at EY and isn’t deal driven if you want to do that. In addition, EY also has an IB business but it’s hard to lateral into. There are other TAS services that are deal oriented including investment banking but it’s more support work for transactions. I pivoted from EY VAL to LMM IB fairly easily.

 

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