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Fears of a recession are reasonably causing people to take a second look at their job security. Seeing as many lawyers are working in specialty tax within PA how many of you are worried about a potential slowdown/layoffs within specialty tax? If not why do you feel you won’t be as affected? Deloitte EY PwC KPMG BDO Grant Thornton RSM Baker Tilly Crowe Andersen CliftonLarsonAllen
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Not that. Unfortunately a lot of the work at big 4 is compliance based. You can just BS your way into a law position by saying you did it, just over sell any consulting work you do.
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Doing the compliance stuff is actually great for going into consulting side later because you will have a great return foundation and will be able to spot issues much easier knowing what to look for on a return. I did a year of ITS compliance/consulting for a year and pivoted to M&A at EY and used that compliance experience as a plus for the group which did not have a big ITS background
Agreed 100%.
Agree with the above. Would also try and do an m&a rotation at some point to get more deal and transaction experience.
Thank you
Unfortunately, ITS at B4 is very compliance heavy. Yeah you get consulting work here and there, but your main focus would be compliance. If you do not like compliance, pivot into M&A when market gets better, or network really well and get into either law firm or WNTS.
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At the very least while helping with compliance work, volunteer to do research and set up/handle calls with WNT as much as possible
Talk to your coach about specifically wanting to help with consulting work (M&A, strategic tax reviews, memos and opinions, etc.) and when looking for new work start by asking people that you know have a lot of consulting work, as opposed to people that specialize more in compliance
Another thought - at Deloitte at least there are two groups under the international umbrella that do 100% consulting work: GSG and VCA - would recommend exploring doing a rotation with either of them way before leaving IT entirely for M&A
Agreed with the sentiment that having both is really important. The compliance work teaches you a lot of the ins and outs of the technical side of tax work. A lot of the firm work is the consulting side, but imo you will be a much stronger on the consulting side you understand the compliance side
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Unless you live in NY, Chicago, SF- at any public accounting firm, ITS will be very compliance based - however, to do international tax you need to have a solid compliance foundation
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