Thanks for the message, are you referring you to the selection process or the work involved?
It depends on where your interests lie and what excites and challenges you. None of us in this chat work in actuarial but I can tell you that tax consulting is a different challenge every day - a unique blend of client handling, understanding complex law, working with numbers, appreciating the ins and outs of different client business models, handling workload, coordinating with others etc. I tend to think of people working in actuarial as more numbers/models focused and tax consulting a bit more diverse (but, like I said, I don't work in actuarial).
Neil - the work involved, but I'd love to know about the competitiveness in the selection process too to prepare myself!
Stephen - I enjoy working with numbers as a maths major, I suppose my interests in statistics would guide me towards actuarial, yet the diversity of tax consulting sounds very attractive, thank you!
The selection process is challenging but I would say that there is a lot of support every step of the way. Because the Tax consulting practice take on so many new students every year we wouldn't compare one candidate against another, its more of a case that a candidate will need to meet the standard throughout the process.
We aim to be flexible and provide you with sufficient time to prepare for the online tests and interviews but the main advice I will suggest would be to practice the online tests as we see a much higher success rates from those who have practiced this. In terms of interviews it is very important to conduct research on the business demonstrate that you understand this.
There are also opportunities to become involved in statistics within tax consulting. For example, one of my clients is building a large renewables energy site but before they start building, they want to understand what the tax implications will be. As such, a complex statistical model has been developed based on a variety of assumptions e.g. their anticipated spend and this model is something which various teams within tax consulting have inputted into.
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