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Anyone recently received a tax manager offer from EY ? I’m going through final interviews and want to see what your experience was like (negotiation process, initial offer higher/lower than expected?, did you give them a salary expectation range? How long did it take from final interview to offer etc) TIA!PwC EY KPMG Deloitte
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Understand you’re coming in with good practical experience, but that you’ll also be learning an entirely new engagement flow and processes. Be vocal and open about what you don’t know.
I found M&A tax is far less structured than compliance and more top heavy, that kind of autonomy is nice when you get up to speed but a bit daunting and uneasy when you’re new.
Lots of unnecessary Type A’s, but we’re still in tax and not performing brain surgery - keep perspective and don’t let them intimidate you.
Coach
My advice to you is to look forward and not backward - get up to speed on tax reform 2.0 asap. Read tax notes every day. You’ll have a greater impression on your peers and teammates. You’ll also inspire confidence with your clients.
Also - please learn about the different mergers and acquisition techniques. I mean the basics. Learn what an A reorg is, B reorg, C reorg, etc. Just the basics.
Following. I’m looking to make this same transition. How many YOE do you have? Also, try to look through current client TDD reports so you can get familiar with them. Also, look at any structuring or transaction strawmans
I switched in as a manager as well. The technical will come, but by god I found it hardest to keep all my deals and the moving parts of each deal straight for extended periods of time. Otherwise, just start making note of rulings and regs that you hear frequently and start getting smart about them
I did this recently, the biggest help was paying attention to the reports people send as samples. Use them. There is nearly no need to come up with language on your own. And please proof read before sending a sample to your superior. I have newer staff/seniors that cannot complete a sentence sometimes and it’s beyond aggravating.
Mentor
Yep old reports are all that matter. You can read other shit until your blue in the face but you will learn 95% of your job from old reports. This is the
Main reason I don’t switch firms. I won’t be able to bring my old reports with me lol. Without them I’m useless.
Any recommended readings? Worth going through Ginsberg?
Logic of Sub K for partnerships as well
I will pray for your soul.
Looking to make a switch as well. Is there any particular group that is better than the others (i.e. buy side, sell side, restructuring,etc)?
Buy side typically has the most work right now, but restructuring has been crazy busy since COVID hit. At KPMG, M&A does all of those things plus structuring and other related calcs (382, E&P, stock basis, pship capital accounts and modeling). I know at other B4, these other work streams may fall under another specialty group and not M&A.
Mentor
Just read old reports. They will have 90% of what you need.
Def use Ginsburg. Grab a paper copy - they send new updates out every six months. Attend PLI corporate meeting. Plan to work weird hours but less predictable.
Is it possible without going to a smaller firm?
OP how did you switch? Within the same firm?
Was it hard to convince them that you can switch as a manager? I've been considering this for so long but recruiters are hesitant that I have a compliance heavy background