What to do?

I got a call today for an interview for an analyst position in the M&A department of a big energy company. And I have already verbally anyway, accepted an offer from a big4, and Im still waiting for them to send the bloody contract, been waiting ages. So I dont know what I should do, should I email the big 4 and say whats the deal? should I go to the interview? I just want to put pen to paper dso I can not have to worry anymore, what is with these slow bastards

Give them my contact details…shall I mail you my details? Will be grateful to you… Anyways, if I were you, I would have gone for the interview and if selected would have taken the offer which is more suited with my long term goals… Congratulations…

I think I would prefer m&a long term. But the way I look at it is 1) I havent actually got this job yet, only would be starting the interview process 2) They wanted people with masters, dunno why i got the interview in first place 3) Would have to bother getting all dressed up and preparing etc and getting there 4) Although this is a massive energy company here, they are not known around the world, the big 4 i am with is. 5) I like the fact that at big4, i will get to work with many different firms in different industries 6) It is in transfer pricing but from what I have heard on here it seems that there are good exit ops into transaction service type work. So lots against it, but lots for it too. Such as where the damn contract!!!

well 2 things, this really isnt an issue until you get an offer from the energy company and you should never feel bad about reneging. granted it can sour a relationship at a particular firm but in the long run they will rescind your offer or cut you when times are rough. look at all the analyst/associate kids that have been assured they have an offer in the current market only to find out a week before training its gone, all the while being told they had a spot.

Wow really? Didnt know they could do that, to the grads. So what happens to them? Do they get paid out some months salary at least? I think i know what ill do, ill hold off getting back to the energy company until tomorrow, and tomorrow if my contract does not come in the mail I will call the firm and say I am going travelling in a few days so would like to sign before I leave, so that way i can find out what the story is.

maddane Wrote: ------------------------------------------------------- > Wow really? Didnt know they could do that, to the > grads. So what happens to them? Do they get paid > out some months salary at least? > yes, some money. > I think i know what ill do, ill hold off getting > back to the energy company until tomorrow, and > tomorrow if my contract does not come in the mail > I will call the firm and say I am going travelling > in a few days so would like to sign before I > leave, so that way i can find out what the story > is. sounds good, but i would do the m/a interview. you sound young, life is short, and it never hurts to check.

do the m&a interview regardless especially if you think you’d prefer that role to the Big 4 job. you lose nothing by meeting with them and it could be a better opportunity for your long term career goals.

I actually work as an analyst for an energy company in its M&A/Strategy group. Constellation Energy… ever heard of it? This is sarcasm (although, if you haven’t heard of them Maddane, you may want to read up on their current events–depending on what type of energy company you’re applying to, there’s at least a chance it may come up in the interview). Anyway, I have been here for a bit over a year, and I really enjoy the work. The energy industry is very diverse, currently in a unique state of transition, and very all-encompassing. There’s a lot to learn, but the work is fun and rewarding. As far as M&A goes–although I don’t have the experience in other departments to back this statement, I strongly get the impression that M&A is one of the best corporate finance jobs you can get. If you love valuation, spreadsheet modeling, etc., at least going for the interview should be a no-brainer. If you have any specific questions about the industry or just what the work is like (at least from my experience), feel free to ask away. PS: What company is it, if you don’t mind me asking? May be able to give you a little perspective on them.

big 4 is aware of the risks of dragging out the process. no harm in talking to the other folks, if nothing else to help you fell like you have options - ironically you may find yourself in a position where you want the process to drag out.

big 4 did this to me for 4 months. in the end I got the job though, but it was really annoying and put a bad taste in my mouth going in.

You make a good point there aspiring analyst and make it sound good. Although after today, I dont think there;s gonna be any money available in the credit markets for them to partake in any mergers or acquisitions anyway! My other problem is that I really cant be bothered studying up on financial models and all that stuff again for this to know it for the interview, cos truth is I cant remember any of it very well since university or what was on CFA level 1 I last did. Its a very large european energy company, would rather not say in public here. Anyway Im thinking I might just go into the interview and wing it!

You’re defintiely right about the state of the markets grinding M&A to a halt (well, other than banks gobbling up their sinking brethren). That is definitely a factor to consider, as work may be slow–it certainly was here even before sh*t really hit the fan in recent weeks. I obviously can’t tell you what they will ask you about in your interview, but I know in my experience, I basically came in there with virtually no modeling experience. Just be prepared to discuss the basics of DCF valuation, the financial statements and how they relate to each other, etc. Just the high level stuff. The nitty gritty of modeling is something you’ll really only learn (and you’ll learn it quickly) through on-the-job experience, and I think employers realize this, especially when interviewing analysts who presumably don’t have any modeling experience. I understand you not saying what company. If you do decide to go out for the interview–and it really can’t hurt–then good luck. Let us know how it goes.

Do you know anything about transfer pricing aspiring analyst, and if that is helpful at getting into corporate finance work at a later stage? because thats the field where my current offer is. So my plan was to always do that, and if I did feel i wanted to change, to lateral from there to corporate finance in maybe 3 years? Im a bit old these days though at 26 already Also one last thing, do m&a analysts working in industry such as yourself and the job i have the interview for earn very well, are there good bonuses. Its no where near investment banker m&as is it? And is it easy to move after a while in industry into a top IB?

Not really familiar with transfer pricing as it isn’t something I deal with at my own job, so I can’t really provide any insight there. Also, I should make you aware of the fact that I am only 22. Got this job straight out of undergrad. So I know very little in the way of moving up/across the corporate ladder. However, my perception of things based on my experience here is that M&A is well-regarded within the company. M&A, particularly at the analyst level, seems to inherently require a good deal more analytical ability than most other corp. finance gigs. That, combined with the modeling skills you develop, will certainly make you relatively more attractive for a lateral than analysts in most other groups. As far as pay–I work in Baltimore (CEG’s corporate HQ), where the cost of living is fairly cheap, so it is hard to gauge my salary against what is typical in NYC. You’re right, it is nowhere near what an I-banker would make, but this is true of corp. finance in general. I would say my base salary is likely comparable to what an analyst at a Baltimore I-bank would make, but my bonus would pale in comparison. The offset to that is that my hours are FAR more reasonable as I am likely to clock in <50 hours in most weeks. I would also say that my base salary is higher than analysts in other groups here (although not huge by any means). Finally, as far as corporate M&A being a segue into the I-banking world, I will once again have to admit that I am competely unqualified to answer that question. However, similar to what I said above, compared to most other corp. finance gigs, I would have to say that M&A would give you the best shot of landing an I-banking job, just because the skillsets are nearly identical.

I do agree that m&a would be an incredibly interesting area to work in. I think I am just being very very lazy, as the whole interview process is so time consuming and nerve racking. But I think I will still go to the interview. The main problem is just how to work things with my other offer if they want another interview with me. I doubt they could rush the proces with me as it wouldnt be fair to the other candidates. Oh well see what happens, could be good just as a networking thing