Applying to IB grad schemes as a Big Four ACA qualified

So I'm currently doing an ACA at one of the Big Four in the audit department. I really dislike accounting and audit but love finance and would rather work in IB/asset management.

I'm also planning to have CFA Level 1 done by the time I qualify.

I was wondering if investment banks would consider someone like that for a graduate role or would I be somewhat overqualified? I'd have some 3-4 years of work experience by the time I apply, plus an accounting qualification. By any measure I should be miles ahead of any recent graduate.

However on the flipside, could I be underselling myself by applying for a grad scheme? As in would I be better off going for an experienced professional role? (like 2nd year analyst)

Reply 1

MAINE.

Applying to IB from the Big 4?....Is this an April Fools joke?

Reply 2

snakesnake

Original post by MAINE.

Applying to IB from the Big 4?....Is this an April Fools joke?

I don't understand the joke. I'm 100% serious. I really want to be a financial analyst, I do NOT want to be an accountant.

Reply 3

Crazy92

Original post by snakesnake

Not necessarily, you might be well qualified to be an accountant, but the roles available in IB can be significantly different.

Can you provide some more information regarding which specific area you want to work in. The term financial analyst is very broad....

Reply 4

snakesnake

Original post by Crazy92

Buy or sell side equity analyst or an analyst in IB/Corp Fin in ECM/DCM/M&A.

And although I agree that the roles are different, I do think that there is still a lot that you can learn from accounting/audit that you can apply there.

Additionally I have about a year's worth of financial analyst experience in industry (an energy firm) pre Big 4 so I have financial modelling experience as well.

Reply 5

PrincePauper

Original post by snakesnake

Isn't it easier to switch to Corp fin at your big 4?

Posted from TSR Mobile

Reply 6

snakesnake

Original post by PrincePauper

Isn't it easier to switch to Corp fin at your big 4?

Posted from TSR Mobile

Theoretically yes and that is my default course of action. But in IB I'd get to work on bigger deals and get a LOT more pay.

Reply 7

PrincePauper

Original post by snakesnake

Theoretically yes and that is my default course of action. But in IB I'd get to work on bigger deals and get a LOT more pay.

I'm aware of the differences. Would advise to switch to Corp fin within your firm and then transfer to I.B as a lateral hire (they wouldn't take you as a new grad). If you can't do that, I'd imagine being hired straight into I.B from audit much more difficult

Posted from TSR Mobile

Reply 8

natninja

Original post by snakesnake

Theoretically yes and that is my default course of action. But in IB I'd get to work on bigger deals and get a LOT more pay.

Big 4 -> corp fin -> lateral move into IB seems to be a fairly common career progression

Reply 9

Tokyoround

They told you this in the accounting forum, replies won't be any different here.

Reply 10

snakesnake

Original post by natninja

Big 4 -> corp fin -> lateral move into IB seems to be a fairly common career progression

Original post by PrincePauper

Yeah thats the plan. However another option in my firm is to go into a specialist financial modelling team which also works on a lot of transaction models but isn't necessary limited to it.
I was wondering whether going into such a department for a while would benefit me as much as going into flat out Transactions/Corp Fin in terms of wanting to switch to a IB/equity analyst role later on?