[justneedhelp]

Hey guys,

Was just wondering what are pros and cons of CA and IB? And also is it possible to break into IB if you start off in CA? Thanks

[DaneCook]

It's possible to break into IB if you start off qualifying first.

A quick search of these forums would answer your questions. Quick point regarding IB is obviously less desirable job security, adverse working hours/conditions, these are obviously balanced out by pay and bonuses.

Whereas with the CA, your starting salary is inevitably going to be low, once you qualify, you can either consider exit options wherein you should really be looking to be on 40-50k p.a excluding bonuses as a freshly qualified CA in industry.

Concisely, in order to make the shift into IB, it'd be advisable to accumulate as much experience as you can in Transactions services or Corporate Finance, it would make the transition smoother/easier.

[partoftheweekend]

Basically IB better in most ways (maybe not work/life balance, but you're prob 20 so who cares). When I say IB I dont mean back office work.

CA is much much easier to get a job in. Especially now considering the economy and shtuff.

[M1011]

If we're talking front office investment banking then it is far more competitive to get in, but pays very well (very!). I'd say both give strong experience and exit opportunities, but if money is your main motivation then IB is hands down the winner. That said, plenty of boardroom directors / CEOs started off as accountants, obviously a long shot but you aren't exactly capping your potential earnings either way.

The downside to IB is the workload. Accountancy is no walk in the park when you consider all the examinations, but it would seem 80 hour weeks are the norm in IB which is pretty insane (think leaving for the office at 7am and arriving back at 11pm every day). So I think it's fair to argue that taking the CA route would give a better work/life balance.

As for starting as a CA and moving to IB, it is possible if that's your goal, but it isn't easy by any means.

On the whole both are solid choices financially. However if you want money and prestige then IB is the stronger choice, if you want a more balanced workload and job security then CA would be the better choice. In my opinion anyway!

[justneedhelp]

(Original post by M1011)
If we're talking front office investment banking then it is far more competitive to get in, but pays very well (very!). I'd say both give strong experience and exit opportunities, but if money is your main motivation then IB is hands down the winner. That said, plenty of boardroom directors / CEOs started off as accountants, obviously a long shot but you aren't exactly capping your potential earnings either way.

The downside to IB is the workload. Accountancy is no walk in the park when you consider all the examinations, but it would seem 80 hour weeks are the norm in IB which is pretty insane (think leaving for the office at 7am and arriving back at 11pm every day). So I think it's fair to argue that taking the CA route would give a better work/life balance.

As for starting as a CA and moving to IB, it is possible if that's your goal, but it isn't easy by any means.

On the whole both are solid choices financially. However if you want money and prestige then IB is the stronger choice, if you want a more balanced workload and job security then CA would be the better choice. In my opinion anyway!

Thanks for this I was just wondering if you could tell me a few exit opportunities for CA's as a lot of people say they may have a limited skill set after qualification?

[M1011]

(Original post by justneedhelp)
Thanks for this I was just wondering if you could tell me a few exit opportunities for CA's as a lot of people say they may have a limited skill set after qualification?

I'm no expert on the matter to be honest, just repeating what I've been told. However if you take the ACA route you do take a wide variation of compulsory modules which I've been told is favoured by employers. Generally speaking exit ops would either be to other areas / firms within practice or to finance departments within industry, but that said I don't feel you should be pigeon holed because your qualified. After all you develop all the same skill sets regarding managing projects and teams bla bla bla that everyone else does in other job roles, on top of the specialisation in accountancy which is valuable in every business. I've also been told that recruitment consultants descend on you like vultures once qualified, so opportunities are certainly there for the taking.

I don't particularly see why you would be seen as having a limited skill set any more so than you would with any other job you might choose, as obviously your skills will always be based on your experience, but that's just my (probably biased) opinion.