Finance/Consulting Professionals--I need your help
Nov 18, 2008 at 1:12 AM Thread Starter Post #1 of 9

johnation33

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Hi,

So I'm currently looking for an internship as a collegiate student and I might have an opportunity in PWC (pricewaterhousecoopers). My ultimate goal is either to work in ibanking at a bulge bracket (impossible im guessing in current state of economy with citibank laying off 50,000 jobs) or consulting at the big three. So basically, has any headfier worked at PWC before or have any solid input? I would be working not on the auditing department but their advisory department, and in one of the three departments:

1) M&A advisory (The global mergers & acquisitions advisory service)
2) Crisis Management (PricewaterhouseCoopers: About us: Services: Advisory services: Crisis management)
3) Performance Improvement (Global performance improvement services)

Normally I would jump at the M&A chance, but considering dealflow is pretty low right now and Crisis management/debt restructuring is especially important right now, I'm thinking I might get more experience working under crisis management. What is your opinion?

Thanks!
 
Nov 18, 2008 at 1:35 AM Post #3 of 9

johnation33

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its not IB though... I think the PWC M&A is more to do with advisory and less to do with financial modeling, from what i read on their website? so would this translate into the same experience?
 
Nov 18, 2008 at 5:31 AM Post #5 of 9

johnation33

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ah ok, but that should be for actual investment banks (GS, MS, BAC, ML, etc) right? Like if I chose crisis management over M&A advisory at PWC as a resume-building internship before I get the real job offering internship, would that be a bad idea?

I guess what I'm getting at is what exactly is M&A advisory? You're advising companies that already advise companies who are merging? So you're basically advising an advisor? Just a little confused.
 
Nov 18, 2008 at 1:34 PM Post #6 of 9

juzmister

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In M+A at PWC you would do the accounting behind the transaction, whilst at an IB you assist with the overall transaction (selection of possible firms to the execution of the deal)

CLIENT

^

BANKERS

^

Lawyers/Accountants


The IBs have cut their overall intakes as of late...

However, not sure how it's going in M+A...I'd imagine there would probably be a bunch of stock/cash takeovers about to go through...
 
Nov 19, 2008 at 1:31 PM Post #8 of 9

Welly Wu

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Quote:

Originally Posted by kodreaming /img/forum/go_quote.gif
Given the current market, I would recommend you to apply for everything.....and see what you got...


yup
 
Nov 19, 2008 at 7:43 PM Post #9 of 9

billybob_jcv

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I've worked with several consulting teams in M&A and debt securitization. If you are a noob, you should be prepared to do whatever you are asked to do - from taking notes on up to financial modeling or whatever. Quite frankly, as a customer, I would zero-in on any youngster in the group and tell the principal I'm not paying for their time. Training isn't on my dime...
 

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