Unexpected Dilemma!

3 months ago I was losing hope on getting placed before my undergrad is over. I thought my finals will end in May and I'll be on a job hunt at least till August or so !

Well ... how things can change. I have not 1 but 2 offer letters currently and my last exam is on the 23rd, i.e on Friday!

Anyway , so the ..

First is Ernst & Young - TAS - Valuations (Specific to Real Estate sector)
Second is Grant Thornton - corporate finance - M&A/Lead Advisory

Both being Analyst positions.

My short term aim is to be able to probably do my CFA, get a good gmat score, and then pursue a good Masters in Finance or MBA starting 2017 or 2018!

In the long run I would preferably be looking to join a Private Equity or something similar, though this is a very far fetched thought and I guess I'll know exactly what I want to do only in the coming years once I have more experience.

To me it seems the profile offered by GT is better but a lot of people keep telling me to join EY as its a bigger company with a bigger brand name so will get me a better MBA. I don't disagree with that point but Post-MBA during my placements to get into IB PE VC or anything I would try for on those lines... Wouldn't they prefer a person with a few years of work experience in M&A/Lead Advisory than just a pure Valuations role that too specific to one sector.

I'm pretty confident of going ahead with choosing the GT role but wanted to put it out here just for some more differentiated views!

Which role do WSO Monkeys think is better to take up?

PS - I'm in New Delhi, India doing my Bachelors in Business Economics from University Of Delhi.
I know I'm going to be getting a lot of global views which may not apply to how things work here but still, fun to know what the world thinks!

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Comments (7)

May 20, 2014

In my opinion, neither will get you to PE unless you go through "real IB" in most cases (especially if you want to work in the US). I'd pick whichever one would allow you to move to "real" IB more easily and try to make that move if PE is an eventual goal.

As EY is real-estate focused (in your role) I'd personally probably pick GT as well (as long as they have some advisory work/dealflow).

May 20, 2014

True. I'm aware of the fact that getting into PE usually requires some 'real IB' work first, but as a kid fresh out of college, no way in India am I getting a proper Investment Banking job. They're mostly for post-MBA kids here.

NOTE: In India most people do their MBA straight out of college without any work ex. Very different from the states and elsewhere.

So the IB Analysts are all these kids who've done their MBA and have no work ex. But I want to pursue my MBA at a good university abroad, that's why require some valuable work ex. A role in any team of TAS in BIG 4 is the best experience I could possibly get in the field of corporate finance in India.

Thanks for the advice though!

May 20, 2014

@notthehospitalER speaks the truth. the GT experience in M&A will probably be more likely to get you in the door for PE than having a brand name in BIG 4 accounting.

May 21, 2014

EY is a safe bet as others have said you get much stronger brand name and TAS may provide you some exposure to private equity groups. But i doubt the transition will be smooth.

I am based in the UK and talked to a guy working in GT CF now. Basically the class of 2013 was a disaster, majority have left for proper IBs. Although they were MM not BB but i think going with GT may give you a shot at IB-> PE ultimately. It is a little bit more risky though given the brand name. EY may be a safe bet that opens the door if IB->PE route doesnt workout. At the of the day, all depends on your determination to make it happen.

May 21, 2014

True, ultimately it depends on how I pave my own path :) Though I get confidence out of knowing the analyst I'm probably replacing left GT since he got selected for his MBA at a top B School of India, and a friend who worked in some other advisory division of GT in the same office got through to LBS last month! So I guess its not all that bad also!

I guess at 21 I can afford to take such choices. If things don't work out with GT for some reason, there's enough time to cover up with a bigger brand name in a couple of years.

Thanks for your input!

May 21, 2014

Is this real life? EY gig is a small step up from appraisal, can't believe people are even entertaining it on the strength of EY's "brand name." EY is fourth biggest acct firm in the world, GT is fifth; suggesting such a drastic drop in work exp. (given OP's goals) for marginal brand appreciation doesn't make sense. Congrats on both offers OP.

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May 22, 2014
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