Investment Banking/Trading/Hedge Fund after ACA?

Scroll to see replies

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.

By far I would say that the hardest part is the competition. There are a lot of big 4 ACA's trying to get into ER as well as current analysts competing with you too. I would say that the best time to be applying is from May to September as it is less likely that you will be competing against other analysts (as they tend to interview after bonus time around Jan to March).

M Engineering is an excellent degree to hold when going into ER and is definately suited to Mining and maybe O&G.

A good tip is to undertake a financial modelling course (usually 3 days) that is pretty much like redoing FM but indicates to the employer that you really want to do ER.

Best prep is to know as much about the sector you are interviewing for as possible. Know some stocks you would buy,sell and hold and why - (hopefully ones not covered by the interviewer as they are likely to grill you on why!! I made mine as small capas I could find)

Also dont listen to some people on here who say that it is unusual for ACA's to get ER - it isn't at all.

Reply 41

capitalP

I would say that ER has the best bang for your buck pay vs hours...but the early mornings are a killer!! it strikes me that at the big banks, ER you need first time passes. maybe even at the smaller ones..you realyl gotta prove you are the hot sh*t.

We had somebody go to Citi with ACA and CFA L1 and 2 for 80k base and 80x bonus..so that is an extreme example but yeh, v nice money.

You will need to use your work experience to sell yourself in the more technical space of ER..so I hope you do relevant work..if not, find some :smile:

ACA to ER is perhaps the best trodden path into a quasi FO role..but get reading the FT and know about the stocks you would recommend in your target sector. If you cant quickly knock up a rationale to invest in the interview..then what hope do you have :smile:

GL with it..ER is kickass imo,a real technical, ACA, makes it all worthwhile type of path. plus all those bankers/corporate financiers/traders wouldnt know where to startwith it !

(edited 13 years ago)

Reply 42

capitalP

Original post by Gohalath

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.

I am at a HF not in ER sorry.

US banks are worse than their European counterparts on a broad level, in every way ( environment etc)

Nomura love ACAs and is a great place to work I have heard.

You have to ask yourself how much of an atypical IB path you can handle...because frankly only the political game playing masters rise to the top. The hard working technical people stay where they are.

Reply 43

Metalmayhem

Hey guys, this may be a stupid question but I'll never know unless I ask...

Ok so ACA to IB sounds very plausible if you're a good candidate, but what are the best opportunities / career paths for someone with a CTA? I'm wondering if I go down the tax route, will I be restricting my options further down the line? Or is there other areas within an IB that they could potentially move into? Cheers.

Reply 44

capitalP

well its a more specialised qualification so you do restrict some options yes. but any education you do proves you have a brain...and going in at entry level sometimes that all you need to do

Reply 45

matt_wills

As an AS level student predicted straight As in Maths, Economics, Physics, Art and Politics what is the best route into a career in trading/investment baking/hedge fund? Are there any kind of school leaver schemes that would fast track uni or is getting a degree the only option? also i found a course from PwC which is 4 years and at the end you gain a degree in accounting and business management AND an ACA qualification, would this be a good thing when applying to such an industry, or would a straight degree in say economics or finance be a much better option?

Reply 46

Melissa999

Hi CapitalP I know your post was a few years back but I wondered how you go about getting a job with a hedge fun. I am 24 and completed 14 of the 15 ACA exams so I am almost there. I am trying to decide what to do after I am qualified and wonder if you could shed any light on working at a hedge fund?