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Any CPAs in transaction advisory around here?

Posted on 3/19/17 at 4:34 pm
Posted by Moretiger
OKC
Member since Aug 2013
91 posts
Posted on 3/19/17 at 4:34 pm
Currently in audit and thinking about making the jump to tas. Wondering if anyone here has any personal insight or experience?
Posted by Jabstep
Member since Jul 2014
2130 posts
Posted on 3/19/17 at 8:10 pm to
GTFO of public accounting if you can. Its such a scam. Overworked, underpaid, slim chance of becoming a partner, and once you do, good luck finding time to enjoy the money you make. Go to industry and make 50% more with half the work and aggravation and enjoy your life for all 12 months...not only the 7-8 non busy season months.
Posted by birdieman
New Orleans
Member since Dec 2012
1647 posts
Posted on 3/19/17 at 11:05 pm to
Ditto, my wife just left Big 4 forensics, makes more and is out of her office by 530 versus working 70 hours a week and being on "call" to deploy anywhere in the world at a moments notice.
Posted by Jorts R Us
Member since Aug 2013
14806 posts
Posted on 3/20/17 at 6:42 am to
Woah woah woah. There is such a thing as leaving B4 too early. I wouldn't just blindly advise someone to get out...
Posted by southernelite
Dallas
Member since Sep 2009
53177 posts
Posted on 3/20/17 at 9:41 am to
I'll agree. Primarily because people in industry are still caught up on B4 experience. Spending the right of amount of time in B4 will pay dividends down the road. I see job descriptions every day for industry jobs requesting a requisite amount of of B4 experience.
Posted by CajunInFL
New Orleans, LA
Member since May 2007
1955 posts
Posted on 3/20/17 at 10:08 am to
Which is complete horse crap. I gained a lot more experience at a regional firm than the people I've known who started out at B4.
Posted by southernelite
Dallas
Member since Sep 2009
53177 posts
Posted on 3/20/17 at 11:11 am to
Never rendered it fair or anything like that, just gave my observations.
Posted by birdieman
New Orleans
Member since Dec 2012
1647 posts
Posted on 3/20/17 at 11:18 am to
Typically the industry people doing the hiring are former big 4 so they hire big 4. Everyone knows the big 4, not many know of your regional firm.
Posted by Moretiger
OKC
Member since Aug 2013
91 posts
Posted on 3/20/17 at 11:21 am to
OP here - I actually spent some time in industry before boomeranging back. People think I am crazy. I am a year off from making Manager. Current goal is to get up to Senior Manager and gauge potential for Partner or move to industry. So, trying to figure out if staying in audit for the next 5 years is worth it or if I should move over to TAS and possibly jump to industry quicker or just enjoy what I do a bit more.
Posted by Weekend Warrior79
Member since Aug 2014
16367 posts
Posted on 3/20/17 at 12:10 pm to
quote:

not only the 7-8 non busy season months.


She only had 4-5 busy months? Our slow periods we were still working 55 hour weeks M-F
Posted by CajunInFL
New Orleans, LA
Member since May 2007
1955 posts
Posted on 3/20/17 at 1:37 pm to
Your observation is correct. Even the regional firm I worked at had that perception. At least HR did. Hired a 3 year "senior" from EY who didn't know what retained earnings was or how to roll it forward.
Posted by birdieman
New Orleans
Member since Dec 2012
1647 posts
Posted on 3/20/17 at 2:10 pm to
It can work both ways though, my wife was early promote twice at a big 4, highest rating each year etc.... Could not even get an interview at Horne for a position near a place we wanted to move to.
Posted by southernelite
Dallas
Member since Sep 2009
53177 posts
Posted on 3/20/17 at 2:26 pm to
I hate people who just rogue DV everyone in the thread without any rebuttal. I can get DVing in some cases with no context, but come on, explain your DVs.
Posted by CajunInFL
New Orleans, LA
Member since May 2007
1955 posts
Posted on 3/20/17 at 2:35 pm to
Probably because she appeared over qualified. They may have assumed they couldn't afford her.
Posted by Louie T
htx
Member since Dec 2006
36302 posts
Posted on 3/20/17 at 2:40 pm to
I looked into TAS not long ago, and the impression I got was I'd have a hard time breaking in without prior audit experience. It's more interesting work and a better career launching point than audit IMO, and that correlates with the higher barriers to entry.
Posted by reb13
Member since May 2010
10905 posts
Posted on 3/20/17 at 4:28 pm to
I'm in TAS, did audit for a few years then moved over. It's way better than audit. However in your situation, I don't foresee your firm allowing you to promote to manager on time if you rotate to TAS before you make manager. On the flip side it's really hard to rotate as a manager because you don't know how a transaction works and what to look for so how can they expect you to lead a team.

Just a couple of things to think about.
Posted by Louie T
htx
Member since Dec 2006
36302 posts
Posted on 3/20/17 at 4:29 pm to
You agree with it being very hard for an acct background but no audit experience to break in sentiment?
Posted by reb13
Member since May 2010
10905 posts
Posted on 3/20/17 at 4:45 pm to
No, there are people from industry, tax, finance, private wealth etc. The norm is obviously audit background but not unheard of.

One caveat is that getting in to the group early in your career really requires audit experience, but there are plenty of people with non audit backgrounds they just have more experience and come in at a lower level.
Posted by Louie T
htx
Member since Dec 2006
36302 posts
Posted on 3/20/17 at 5:06 pm to
Appreciate the info

I figured it was structured more like audit where you start young as a staff and progress through ~manager in the first decade.
Posted by Moretiger
OKC
Member since Aug 2013
91 posts
Posted on 3/20/17 at 5:25 pm to
Yeah, I have already thought about. I am in a bit of a weird spot. Have you seen anyone move from audit after making Manager?

Would you recommend just trying to transfer over after making Manager or try to move this Summer and possibly lose a year on my timeline? I feel like if I don't get into TAS now (pre-Manager), I may lose my shot.

Trying to figure out the lesser of two evils here. I do have some M&A experience (IPOs and acquisitions) albeit for the audit side.
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