Preparation for interviews in Transaction Services Internship/Apprenticeship ?

Question

Hi, I'm a 21y French student currently enrolled in the EDHEC MiM program (ranked 4th in Europe by the Financial Times). I'm actively looking for a two year apprenticeship in Transaction Services starting in January in France.

I don’t have any prior experience in finance or accounting, so I’m not sure how realistic it is to land this type of position even though it’s exactly what I want to do. I’ve started applying to various offers I find online and I’m hoping to get some interviews.

If I do get an interview with a Big 4 firm, what should I expect? And how can I best prepare? I have the entire month of August to get ready!

Answer 1

Hi Lucas,

Landing a Transaction Services (TS) apprenticeship without prior finance experience is definitely possible if you prepare smartly. Here’s how to use August effectively:

1. Understand What TS Is

TS supports M&A deals, mainly through financial due diligence (FDD). Learn what that means and how it fits into the deal process.

Watch YouTube explainers on TS/FDD
Read job descriptions to spot recurring keywords (e.g., EBITDA, working capital)

2. Learn Financial Statements

You need to understand how to read an Income Statement, Balance Sheet, and Cash Flow Statement.

Use free resources like Investopedia or AccountingCoach
Focus on profitability, financial health, and cash generation

3. Know the Deal Process

Familiarize yourself with how deals work—due diligence, signing, closing—and key terms like QoE, NWC, synergies.

Read about recent deals on Les Echos or Challenges
Understand what TS teams actually deliver to clients

4. Practice Interview Questions

Expect:

Fit questions (“Why TS?”, “Why our firm?”)
Basic technicals (“Walk me through a cash flow statement”, “What’s EBITDA?”)
Motivation for a 2-year apprenticeship

Practice using the STAR method and prepare a strong “Why TS” answer that shows curiosity and analytical thinking.

5. Tailor Your CV and Cover Letter

Highlight:

Analytical coursework and teamwork
Interest in M&A and learning
Initiative—like how you’re using the summer to prep

Happy to help you prep on the above – feel free to reach out.

Best,
Evelina

Answer 2

Lucas,

It's great that you have a clear target. You're asking a big question though - 'how best to prepare,' since this entire platform and industry is about that.

The first step you should take is to understand what is the recruitment process like for your target role. How many interviews? What is the format of the interview (case study, fit interview, written case, etc.)? What is being tested for? What are the differences between the firms and what they test?

Once you create an overview for yourself of all these things, then you can be more targeted with the prep (rather than trying to do a bit of everything).

In terms of the application process more generally, you're likely to find this useful:

Expert Guide: Build A Winning Application Strategy

Best,
Cristian

Answer 3

Hello Lucas!! I know people who did this program in a Big4 right after college, so it’s definitely possible. You should expect a case interview and some fit / behavioral questions, with practice and preparation you will be really really good! There’s a ton of material out there, what helps is to find someone who has cased before and can practice with you (otherwise it’s overwhelming!!). Best!!