| Topic Name: |
Transaction Services |
| Message Name: |
london ts |
| Date Posted: |
02/27/2006 |
| In Reply To: |
1) There is no corp fin group in the US, only in the UK and some in asia.. also, if you really want to do CF, do the BB route. The Big 4 CF depts are third or fourth tier shops (many people from my school work at BB houses and some did Big 4 shops... the peeps at the BB say the chances of an ex big 4 CF person being hired to a BB are nil) that do a few comfort letters or other valuation work that none of the other houses would even touch.
2) like i said earlier, TS isn't just one group. it's three separate functions.. your travel time, compensation, bonus, and career prospects depend on your position.
3) The broad strokes on comp for TS as a whole are: you will get paid more than audit (The avg TS rate per hour is ~$400, compared with $170 or so for audit,SpA, etc). As far as which group pays you more or less, I'm not sure. I'm a 4th yr and senio consultant and I make $86K base. My last yr bonus was $12K.
4) It looks like you're in college now... you shouldn't worry about TS now, since we only hire a select few straight from college. Its good you express an interest in TS, but it is something to be considered 2 to 3 yrs down the line. (We do hire some straight from undergrad, but I don't think they bring much to the table immediately, even though they may be outstanding students.) |
| Message: |
seems like the structure is quite different in the US for taking graduates into TS.
we spend the first yr in audit and then transfer into TS.
as for corp finance i know at E&Y transaction services falls under their corporate finance department along with M&A.
However at PwC TS is classified under Assurance thus the need for fresh TS associates to spend the first year in audit. and yeah our salary is similar to the audit ppl unfort :(
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