Investment Banking/Trading/Hedge Fund after ACA?

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My $0.02

Just making you aware of the banter that flows between us market's guys and accountants.....

I know of 1 trader who did the ACA first.

And then as a trader, he started as a very old grad. Still earned more money.

Very useful then.

You mean an analyst by saying an old grad?

Reply 21

R.F.

a long winded option but possible:

ACA then ER then move to Hedge Fund. Once your in ER it is a tangible move to even trading but I have rarely heard anyone do it! To stick it out an accountacny firm for 2-3 years if your interested in trading is going to be very difficult. 2 totally different work styles

Reply 22

In1Su

Sorry for what might seem like a stupid question, but what the heck is ER?

Reply 23

My $0.02

In1Su

Sorry for what might seem like a stupid question, but what the heck is ER?

Equity Research

Reply 24

andystanger

Hello!

Sorry to drag this thread back up- but I think theres one question which is as yet unanswered- although it seems relatively easy to go into (for example) ER as an associate or third yr analyst, can you feasibly go into any department of an IB you like if you just go in as a grad? Will most banks accept grad applications from newly aca qualified people? I cant think why they wouldnt...

thanks!

Reply 25

love2learn

andystanger

I've met some who've moved into IBD (leveraged finance) after accountancy (especially transaction services), and have met someone who moved into M&A from KPMG CF (not an ACA programme)

by 'any department you like' I think this would depend on experience. A very common route is into product control.

Reply 26

Economics101.4

KPMG CF tends to excel at bringing people into IB from the Big4 as they have the best CF department from it's competitors (note: I am not saying they are better than IB's at CF ha) - I know of many ex KPMG employers who have are now in IB's such as GS (not meaning to name drop) and Citi etc, however from my very limited experience relative to the idustry they tend to be in M&A and the likes (eg. DCM/ECM)

Reply 27

capitalP

I posted a while back, and have since begun the ACA at D&T. I graduated 4 years ago, and really found it hard at times. Its more about exam technique than knowledge cramming...so I have passed my first 4 multiple choices and failed my first two writtens.

Massive dissapointment but just gotta get on with it really. First time passes will become less prevalent due to the random nature of it all.

GL with it :smile:

I aim to move into PE one day..

Reply 28

Another One

bringing this thread up. any new members have any idea about this? have situation changed?

I am at a Big4 at a major regional office, the ACA is absolutely brilliant for learning but the thing that disappoints me is that the people here are not exactly the best. People are genuinely not motivated to do anything apart from ticking all the boxes as, at the end of the day, being an ACA is very comfortable lifestyle, esp outside London where you might be making £50K at 25/26.

Any thoughts?

Reply 29

capitalP

brilliant, seeing my old post here.

finished ACA, decided against the life drain of PE/IB..now at a hedge fund.

Peace, good luck to all

Reply 30

the_decider

Original post by confused?

Hey guys..been thinking about long term career..going to start the ACA soon..obviously there are many opportunities after the ACA but would like to end up in banking, or using accounting and financial analysis to make investments!

What are the chances of this happening?

Would you start at the first year analyst trainee level?

Anyone heard of this happening before?

Thanks!..need to plan ahead and find out how to maximise my chances! :smile:

Do you mind me asking what ACA is?

Reply 31

qwerty12345678

Original post by the_decider

Do you mind me asking what ACA is?

Professional accounting qualification.

Reply 32

the_decider

Original post by qwerty12345678

Professional accounting qualification.

Doesn't the CFA make more sense for IB/Trading/HF ?!

Reply 33

Altruistic1

Original post by capitalP

brilliant, seeing my old post here.

finished ACA, decided against the life drain of PE/IB..now at a hedge fund.

Peace, good luck to all

Congrats... what role? Do you find your ACA helps you when working?

Reply 34

capitalP

the ACA is the best thing I have ever done. I am an investment analyst.

Reply 35

capitalP

Original post by the_decider

Doesn't the CFA make more sense for IB/Trading/HF ?!

CFA is asset management/portoflio management

so yes in some ways...but you dont think people who work in ib/trading/hfs all do the same thing do you :smile:

Reply 36

Gohalath

Original post by capitalP

the ACA is the best thing I have ever done. I am an investment analyst.

I'm interested in making the transition to equity research - just sent my ACA form off to the institute last week:

- Did you join as an associate? I'd like to join sell-side first, to learn the fundamentals
- What industry groups are hot / not?
- What's the best way in? I like the idea of a more structured programme than a direct entry hire - is there anything like that?
- I've heard that the ER experience is very much dependent on the analyst you work for but any way to generalise at the company level? I understand that UBS, Barcap, Credit Suisse have good ER credentials and are a little more relaxed than the culture at US banks, any truth in this?

Thanks for any info you might share.

Reply 37

Samtheman1

Golalath - what firm are you at now?

I just left PwC and start in ER next week - its bloody hard to get into, have you had any interviews yet?

In terms of sectors - best to go for what appeals to you - im going into oil and gas but that is really due to my previous audit clients.

Thats pretty much all us ACA's can bring to the table from the big4 trying to get into ER so if you like a particular sector then lay on the audit experience in that sector pretty thick at interview stage

Reply 38

montyr

Hmm...

So that's a definite advantage for big 4 in London over regional then...

Reply 39

Gohalath

Original post by Samtheman1

I work for a big 4 firm in London - in corporate tax actually but I specialise in pricing and valuations for tax purposes so I don't have particular industry specialism (but will probably have worked for at least 1 or 2 clients in each sector). Because of my work I think I've got the basics of using financial models, DCFs, and other corporate finance principles.

I'm holding off on actively looking for interviews until I get back from travelling - next year - when I expect I'll start to get serious about putting my CV out there. I think I can tick most of the academic / exam boxes - I studied mechanical engineering at university so my instinct (and interests) lie more towards oil & gas, basic materials, telecoms etc.

Where are you working? What was the toughest part of making the switch? Any hints / tips for the interview process? Congratulations on the move by the way, it can't be easy in this job market.