An Ode to Valuations PwC Malaysia

Or How to Get a Free Masters in Corporate Finance (They Actually Pay You Instead??)

I slept overnight once – 10/10 no recommend because the trains still shrill by past midnight!

The corporate world is much maligned, with many nasties such as PIPs, layoffs and burnout.

Nestled in the heart of Brickfields however, there is a special place on Level 12, Menara TH 1 Sentral: PwC Valuations team.

Here, there was amazing apprenticeship, people who really cared for your well-being and self-development that helped you move on to the likes of Khazanah and Singapore.

I can only speak for my old team, but I still see many of my old bosses and colleagues there. Something tells me its probably still the same as the day I joined, just more pickleball sessions.

If you’re reading this, thank you. Keep this oasis going.

Note: Let me know if you need a referral. Can’t promise anything but truly, careers websites can be the black hole of CVs sometimes.

1. Amazing apprenticeship

As a fresh grad, you need to learn at the feet of a master. Here, the coaching and mentorship was generous. All of my seniors and peers took the time to teach and guide their best practices.

My coach, Nicholas, was like a father to me. Imagine having to teach a fresh grad how to model ‘change in working capital’. This fresh grad previously did math equations with pencil (me) and had zero prior exposure to Excel.

Imagine now having to do this as the fresh grad stares back at you like a blur sotong, at 7pm with deadlines looming and stomach grumbling. Truly GuanYinMa-like patience.

As my thick skull rejected his explanation for the 100^th time and his stress levels rose, he took a deep breath and would try a different angle for his ELI5.

In other places, I would have had the pleasure of being asked whether I brought my brain to work today.

2. A collection of real ones – people who truly cared

Compared to my peers who did Accounting & Finance degrees or took the ICAEW, I was a laggard. Based on my experience, I’d be ranked dead last and PIP’d[1].

Opportunity and time was given to catch up and learn. I was not counseled out, but counseled to take the CFA. They gave projects that had longer timelines and lower risk for me to learn on the job.

When I told some bosses of my decision to leave after 2 years, they tried to talk me out of it. One boss (not from Valuations but with whom I worked with frequently) said I could do better and even offered to find better roles. Another said it would be a waste; I was just ramping up my career in PwC. Advice that came from people who cared.

There was no need to organize socials ‘officially’ – it just happened organically. That’s how much people enjoyed being with each other.

3. Self-development that opened the doors to other places

Khazanah conveniently moved so that the PwC folks could still lunch together

When I meet with my old PwC buddies, we often joke that half the leavers is in Khazanah, another half is in Singapore.

Some have gone on to the MBBs, some have gone on to private equity firms like Creador and DAPE. These leavers were great in their own regard, but I think PwC can take some credit here too.

“Learn the rules like a pro, so you can break them like an artist.” - Pablo Picasso

We got to learn, on company time, the basics of corporate finance from WACC to free cash flow. The CFA was sponsored. We referred to Damodaran every day and in every footnote.

More importantly, we learnt how to defend our assumptions to other pesky Big 4 accountants and execute methodologies that were generally accepted as best practice.

This opportunity to develop was extended to the entire Deals team. The head honchos devised a rotation program in between each service offering.

Imagine being able to rotate and learn valuations, corporate finance, financial due diligence, commercial due diligence. You’d be a powerhouse in a private equity firm.[2]

We even had a partnership with PwC Vietnam, so you could even transfer to VN for a few months and experience a different city and culture.

Allow me to end here and dab my eyes. Hope this helps if anyone is deciding between their offers or looking for new roles.

Note: there is almost no age or seniority gap. I’ve seen new joiners at up to Senior Manager level.

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[1] Performance Improvement Plan, or Paid Interview Prep. Essentially means ‘please leave or we will fire you’. Meanwhile you get paid to interview elsewhere for a new job.

[2] Indeed, I know of one person who completed such a program and is now thriving at a private equity firm.