Life at Deloitte
Student opportunities in Advisory
The Advisory team provides financial advice and insight at every stage of a transaction – from consideration of strategic options to transaction execution. We understand the importance of industry knowledge and have therefore built up a range of industry focused teams.
Our mainstream M&A Advisory team advise corporates and private equity on acquisitions and divestments. Our specialist teams will lead or support on transactions as required and include, Debt Advisory, PE Advisory, PLC Advisory, Special Situations, Treasury Advisory and Valuations. If you are interested in starting a career that could lead to you becoming an M&A expert in a chosen industry field, Advisory could be the place for you.
What work would you get involved in on a day to day basis?
Every day spent in Advisory throws out a new challenge, with tasks ranging from the assessment of strategic options for clients focusing on growing their businesses, the investment appraisal of potential acquisition targets or participation in meetings with senior clients and high flying executives of some of the world’s most prolific companies.
A common theme throughout your day will be the importance of relationships within our Firm. You will be expected to interact with both your team, Deloitte professionals in other services lines and clients including shareholders, management teams and investment directors on a day to day basis. You will find yourself in a range of different situations and environments which will all assist in your development into a fully-fledged M&A professional.
Typically, Advisory transactions can be split into three general areas:
- Supporting clients on buy side transactions from the initial point of accessing potential acquisition targets, to the drafting of offer letters and negotiation of final contracts at completion;
- Advising on the disposal of a company’s shares or a particular subsidiary, division or specific business; and
- Analysing part or the whole of a company for valuation purposes.
Your role will include being part of a transaction team that is involved in all of the above areas providing a wide range of varied opportunities.
Your role will include the origination of deals through targeted market research, networking and pitching for transaction roles. A significant part of your time will be on the execution of transactions through the provision of advice to a range of clients (including Companies, Banks and Financial Investors) and project management from inception to completion.
The majority of transactions will see you working in a small team of 3-6 people from Advisory, along with professionals from other Deloitte service lines who will provide specialist input when necessary. You will therefore be a key part of the team at all points of the transaction, sharing in the hard work, but also the glory at completion.
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Learning and development
Joining Advisory provides you with the opportunity to complete either of the following highly respected professional qualifications:
- The Chartered Accounts (ACA) qualification from the Institute of Chartered Accountants in England and Wales (ICAEW); or
- The Certificate in Finance Business (CFAB) which is the foundation stage of the ACA, followed by the Corporate Finance Qualification (CFQ), a qualification governed by the ICAEW and the Chartered Institute for Securities and Investments (CISI).
Deloitte will fully support you during your period of study whichever route you choose, both through enrolment with an external business school and the provision of essential study leave. More directly, your team will support you in ensuring you have the appropriate work/study balance around the time of your crucial exams.
Successfully undertaking the ACA qualification enables you to become a Chartered Accountant and work in any aspect of finance or in the management of any business. The CFQ helps you achieve real-world skills and in-depth knowledge relating to the Corporate Finance arena and underpins FSA approved person status.
The decision is yours!*
*(But to help you we’ve set out a few thoughts from recent joiners who have already made that important decision!)
“The ACA provides you with a strong toolbox of knowledge to deal with some of the issues faced when acquiring or disposing of a business. The fundamental understanding of how financial statements are put together is priceless when considering the performance of client’s businesses.”
“I chose the CFQ because the syllabus highly suited my day to day job, providing me with valuable technical skills. The time spent out of the office at college studying for the CFQ is also significantly less than the ACA, allowing me to gain great ‘on-the-job’ experience. When choosing the CFQ you also study the first stage of the ACA, before transferring to the CFQ, allowing you to obtain fundamental accounting skills.”
Deloitte also provides specific CFA learning courses for you to enhance the experience you gain through direct client work. These courses focus on both technical and non-technical skills that will enhance your ability to perform to the highest standard. Focus areas include topics such as Valuations, Report Writing, Financial Modelling and Effective Meetings and Presentations. These courses can take place both in the UK or within different European locations particularly the Deloitte University in Brussels, providing you with a great opportunity to both learn and network with our global team.
What differentiates Advisory from other industries?
The nature of Advisory means the transactions you work on can have a significant impact on the industry of the client’s business and you can often see the results of your hard work in the national press. In addition, our advice has a real impact on the growth and future success of the companies and markets we operate in.
A significant amount of time will be spent with senior and experienced team members, both internally at Deloitte and externally at the client site. This means that from your first day with the Firm you will have exposure to a professional environment, enabling a quick learning process and the building of significant networks. Get ready for a jump into responsibility working in specialist areas within Advisory like EVM (Economic Consulting, Valuation and Business Modelling) and HEART (Health Economics and Restructuring/Transactions).
What is Economic Consulting?
In Economic Consulting, we provide solutions to our clients on business, consumer and regulatory issues, using a mix of econometric and financial expertise, alongside microeconomic and macroeconomic theory. With strong economic modelling skills and deep industry knowledge, we are trusted to provide professional advice to companies, regulators and government.
Sitting within the wider Advisory team, we create bespoke solutions, and often work with specialist teams and experts from other parts of Deloitte, to ensure that our clients achieve their objectives. Our team members have postgraduate economics backgrounds which coupled with our sectoral focus and expertise, allow us to bring sophisticated analysis to complex industry-based questions.
What is Business Modelling?
Our Business Modelling Group is a market-leading, dedicated centre of excellence which draws upon the full service capability of the firm to provide innovative, analytical support to help our clients make better decisions and achieve their goals.
We gain an in-depth understanding of our clients’ key business drivers and objectives, helping to identify, simulate and test their business options, enabling a deeper and more informed view of the potential risks and returns involved.
Business Modelling is a specialist skill which is combined with financial expertise and industry sector knowledge. You will learn the tools and methodologies and gain the practical experience to help our clients make their most testing decisions.
What is HEART?
HEART is a specialist team that sits within Financial Advisory. We are a multidisciplinary team of clinicians, operational managers, accountants and economists who specialise in advising healthcare organisations, such as NHS Trusts, Clinical Commissioning Groups and Regulators, and our offerings span financial and operational improvement, health economy restructuring and transaction advisory services.
- Restructuring: Our restructuring work focuses on supporting underperforming healthcare provider and commissioner organisations that are in financial distress. Sometimes this work will be procured directly by the individual organisation or can be part of a national programme of support enforced by the regulator. Either way it involves working closely with stakeholders to identify, plan and deliver operational and financial improvements. We also support clients to restructure at a health economy level, often working across several health and social care organisations. At this level you can expect to get involved in activities such as benchmarking, finance and activity modelling, service redesign and reconfiguration planning.
- Transactions & broader advisory services: Our work also involves supporting NHS clients with pre and post transaction planning for a variety of transactions including mergers, acquisitions, joint ventures and subsidiary ventures, PFI buy-outs. More broadly our advisory services, include support with service transformations to economic appraisal of strategic options. You will be working with a senior and experienced individuals from a financial, economic and operational backgrounds and you can expect to support them with integration planning, identifying target operating models, forecasting financial costs and benefits and drafting business cases for approval and funding.
The team often works cross-service line, working closely alongside other services in Deloitte, especially Strategy, Technology, Real Estate and Tax to bring comprehensive and innovative solutions to our client’s most complex problems.
What is Government & Infrastructure?
Our Government and Infrastructure team provides specialist finance raising and commercial contract negotiation advice to private and public sector clients. We operate across four sectors: Energy and Resources, Central Government, Health and Local and Regional Government.
We act as financial adviser to the private and public sector on debt raisings and where large volumes of long term finance are required for investment grade, and near investment grade, projects across sectors.
Our service areas include:
- Major infrastructure and capital programmes
- Government led reorganisations and restructurings
- Public procurement
- Project and PFI/PPP financing
We advise on the procurement, negotiation and (when sought by government) re-negotiation of major contracts between the public and private sector, particularly where these involve detailed incentive payment arrangements. Our team has significant experience of advising Government and its corporate entities on structural options, ownership reviews and divestments.
In May 2014, the Business Services team, led by Byron Griffin, advised Graphite Capital and management on the sale of Education Personnel to Intermediate Capital Group Plc. Education Personnel is the largest provider of supply teachers and educational support staff in England and Wales providing over 800,000 staffing days per annum to over 7,000 schools. The completion of the transaction was led by Advisory with support from Transaction Services and Debt Advisory.
Chris Eastwood, an assistant manager at the time of the transaction, was a key team member in the completion of the project.
“Soon after joining the department I was involved in a really exciting deal. We were advising the Private Equity firm Graphite Capital on the sale of one of its portfolio assets, Education Personnel. As an assistant manager I was heavily involved in writing the marketing materials that were used to attract potential international buyers to the business. I was also responsible for all the deal modelling – which meant I was interacting closely with the CFO of the company and reporting directly to the Director and Partner at critical times in the transaction. I worked hard, but learnt so much over the duration of the transaction. The deal was a great success for both the shareholders of the Company and Deloitte – it was hugely rewarding for me to be part of the team and to share in this success.”
Social, society and corporate responsibility activities
As a graduate joiner to Advisory vou are entitled to attended monthly events through the Finacial Advisory Associate Committee whose objective maximise networking opportunities across junior grades within Financial Advisory.
A number of Advisory team members are keen sports men and women and participation in a wide range of sporting events in support of both Deloitte’s own charities and external charities is common. Examples include Deloitte’s Ride Across Britain (a team event where you ride 969 miles from Land’s End to John O’Groats in just 9 days!) and the Royal Parks Foundation Half Marathon and Ultra Marathon.
Another area that you could choose to become involved with is the Social Innovation Pioneers Programme where each year we support 12 existing and promising social businesses across the UK. The businesses are organisations that are trading with an environmental or social purpose. Deloitte supports them through the provision of events, workshops and advice as they start out in business.