In case you missed it, read last week’s issue here

Big 4 Accounting Layoffs: What it Means for Students

Last week, EY and KPMG announced fresh rounds of job cuts across consulting and advisory roles, citing “macro uncertainty” and slower deal volume.
Why it matters: Fewer entry-level spots = more competition. Recruiters are focusing on candidates with clearer career goals and stronger technical foundations.

Tip: Use this summer to sharpen your Excel, accounting, and valuation skills. Even a few LinkedIn Learning courses can make your resume stand out. There are hundreds of free courses out there that are widely accessible for business students.

Goldman Sachs Launches New Private Credit Fund

Goldman Sachs announced a $15 billion private credit fund targeting middle market-landings, as banks continue to retreat from riskier corporate loans. This shows that private credit is becoming a key asset class—especially in a high-rate environment. Many private equity firms are now raising their own lending arms.

Student Takeaway: Understanding private credit vs. traditional lending could give you an edge in both investment banking and private equity interviews in your future.

Definition: A Deferred Tax Asset arises when a company has overpaid taxes or has tax-deductible losses it can apply to future periods.
Example: A net operating loss (NOL) from a bad year can be “carried forward” to reduce taxes in future profitable years.

Why DTAs Matter: DTAs often come up in accounting interviews and M&A due diligence. Knowing how tax assets impact cash flow and deal structure is key.

If you're going through recruiting this year (or plan to in the next 1-2 years), start by building a target list of firms—ideally 20–30 banks, funds, or firms that align with your interests. Even if you’re a freshman, it’s a good idea to start researching employers and thinking about where you could see yourself in 4 years.

Your target list should be segmented with these key factors in mind:

Pro tip: Reach out to 3–5 analysts or associates a week for informational chats. It adds up—and helps with referrals.

Layoffs and volatility may feel discouraging or sound scary to current students that want to get into the field—but they’re also reminders to get sharper, earlier. Every small advantage helps. You’ve got this.

Also, Wall Street Prep offers tons of free financial modeling courses just like the one I linked above about building a 3-Statement Model. Through Wall Street Prep, you can find guides, tutorials, and courses on almost everything financial modeling. I’ll link it here again if you missed it.

Welcome to Campus Capital. Each week, we’ll break down the finance world in 5 minutes or less.
Got feedback or questions? Hit reply and let us know what you want to learn.

Share with a friend: Know someone interested in finance? Forward this to them!

My name is Braunsen Bax, I’m a finance and accounting student-athlete at North Central College in Naperville, Illinois (45 mins outside of Chicago). I graduated from Walton High School in Marietta Georgia. Outside of the classroom I compete in the throws events for the Track & Field team, 35 time NCAA DIII national champions. I’ve had a love of finance and the business world since my sophomore year of high school and started Campus Capital to share that love with my community and like minded individuals in a similar position, with similar goals. My mission is to help people like me shape their futures to ensure they reach their goals while being up to date and educated in the Finance industry.