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When will tcs salary be credited for Oct 2022?
Can someone link the discount code spreadsheet?
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@EY3 TAS FDD work is not supplied through audit and doesn’t support the audit.
^also not even close to true. Starting salary for a brand new partner (NY Metro) is 450k.... that’s brand new.
TAS partner
Audit would make the least of all service lines I would think. Advisory then tax then audit
^not true re: margins. Audit margins are the best. Common misunderstanding among the staff. The answer is Audit
TAS has nothing to do with audit, a lot of the work is one off and random. The key thing is that TAS/FDD gets paid regardless of the outcome, which is why many companies choose a B4 for FDD that they have no or very loose (advisory/Consulting) existing ties with. They need a completely unbiased opinion on their target/acquirer, any group that was tied up with their external auditors are not independent as their FDD work could undermine any valuation work done as part of the audit.
This is why companies generally gone through B4 rather than Fin firms/banks for FDD. Banks only get paid if the sale goes through, so they’re more likely to make the numbers work rather than report the facts.
I know a Deloitte TAS M&A principal out of our NYC office that worked a lot of big deals in 2015 (his first year) and he told me he honestly cleared $550k that year. First year audit partner can expect about 50-60% of that first year from what I’ve been told.
I hear audit.
Aren’t profit margins higher for transactions service line? Or does the pool of $$ in audit exceed transactions?
I heard that while margins are better for one-off client advisory work a lot of work is funneled from audit. So the supporting advisory partners get squeezed. I’m really just focused on total compensation.
TAS. No question
It honestly depends. Advisory’s margins are much higher but I recall an EY partner stating on FB a few months ago that the Advisory practice is actually a losing service for them right now since they are spending so much to build it out. A senior audit partner in the right office could definitely outstrip an advisory partner if the conditions are right.
I think this question may be misleading as transaction partners probably make more, it is much more difficult for them to make partner compared to audit. Plus, audit supplies transaction people with most of their work, so audit really rules the firm and transaction specialists are hired to support audit.
Sm1 maybe sc1 means after the buyin repayment
I’m talking about what he cleared vs what audit partners clear in their first year. I’m just going off what I was told