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What’s FDD like at Bain, BCG, or McKinsey?
Looking for some advice on the following - I want to make a pivot back to client services, specifically advisory/consulting/transaction services. I have 4 years public accounting experience, and 3.5 years manager experience within the corporate controllership function, both technical and SEC reporting related (more technical than SEC). What roles would I be a fit for? Public experience includes tax and audit. EY PwC KPMG Deloitte
Imagine being an auditor lmao
how much harder is banking then valuation?
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Analytics will pay more than core FDD while you remain in public. If you leave for industry, I think it’s a toss up and dependent on how well you can sell your core FDD vs analytics experience (or both since many people transfer from core FDD).
I disagree with the AI concerns that others are bringing up as it relates to Analytics. The value add of Analytics is not their ability to use Alteryx/PBI/SQL, just like the value add of core FDD is not their ability to crank out QoE databooks.
Clients ultimately pay for Analytics because they uncover revenue leakage, make sense of billings vs rev rec, quantify product migration impacts, can explain impact on recurring revenue due to converting from a perpetual license to SAAS, flag concentration risk, isolate price increases from volume driven growth, etc.
AI makes Analytics faster and more in depth. It doesn’t remove the clients desire to uncover business trends or more appropriately forecast the business, which is ultimately the purpose of core FDD as well.
Mentor
I'd be more worried about deal analytics roles when it comes to AI
Mentor
Little known fact but the US is actually the only major market where transaction analytics is a separate service line in the first place.
It's only because the US went incredibly accounting heavy historical facing for its FDD approach that transaction analytics was needed. In other markets (Europe, UK, Australia etc), it's integrated within FDD.
Which is to say, it's on shakey ground to begin with. Then you add in the fact that much of those analytics are being embedded into software tools and AI is allowing analysis that before you needed Alteryx, PowerBI and similar tools for and you can see the need narrowing.
I would see much of what it does being split between: a) FDD (really, does a price volume analysis really need to be outsourced), and b) brought internally by PE (much the same as they do for business diligence).
There will be a place for it to come on the largest deals but across the market it doesn't have the fall back that FDD does where it's required by lending / internal compliance to have that level of due diligence. It's also much more relationship and communication heavy. In general anything too data heavy right now is in trouble. It's the easiest for AI to automate.
I'd honestly recommend even manager level and below to think about what's next. I personally wouldn't encourage people to see it as a future career option.
Analytics is more specialized, sets you up well for decent exits in the mid professional years but more so into career individual contributor roles which can be a good or bad thing depending on your personal goals. Core FDD is more of a generalized skill set and keeps more doors open in my experience.