Can't decide whether to work or go uni next year Watch

That'sGreat
Badges: 19
Rep:
?
#1
Report Thread starter 11 months ago
#1
If i do, this is my plan:

Do an apprenticeship in Banking and Capital Markets doing Assurance/audit at a Big 4. I intend to do this for a year to hopefully build contacts in the Banking and Capital Markets industry, earn about £20k before going to a Durham Uni/Warwick/Exeter to study History.

I have heard if you do a good job and leave after a year, its not uncommon for this firm to promise you a job after graduation. However, I really want to go into Investment Banking (M&A) or possibly S&T after uni, and was wondering if doing this year will make me the contacts I need to land a good job in these sectors?

PS. Is Banking and Capital Markets a good group in the Assurance sector, as opposed to Insurance and so on
0
reply

Finance and Accountancy Careers Content Blocks

kkboyk
Badges: 21
Rep:
?
#2
Report 11 months ago
#2
(Original post by That'sGreat)
If i do, this is my plan:

Do an apprenticeship in Banking and Capital Markets doing Assurance/audit at a Big 4. I intend to do this for a year to hopefully build contacts in the Banking and Capital Markets industry, earn about £20k before going to a Durham Uni/Warwick/Exeter to study History.

I have heard if you do a good job and leave after a year, its not uncommon for this firm to promise you a job after graduation. However, I really want to go into Investment Banking (M&A) or possibly S&T after uni, and was wondering if doing this year will make me the contacts I need to land a good job in these sectors?

PS. Is Banking and Capital Markets a good group in the Assurance sector, as opposed to Insurance and so on
If you're going to take the apprenticeship route then there's no need to go uni and it would make it pointless, since you'll be able to become a chartered accountant within 3yrs, and earn far more money. Also, going to uni does not in any way guarantee you a job after graduating: you will have to work hard to gain relevant experience during your time at uni (which is quite hard) by applying to internships, and build your skillset to set you apart from others (it's extremely competitive and the spaces available are limited).

If you want to go into IB, then you'll need to take a degree in one of their target or semi target unis. The other users here will offer better advice, as I'm not too familiar with IB.
Last edited by kkboyk; 11 months ago
1
reply
That'sGreat
Badges: 19
Rep:
?
#3
Report Thread starter 11 months ago
#3
(Original post by kkboyk)
If you're going to take the apprenticeship route then there's no need to go uni and it would make it pointless, since you'll be able to become a chartered accountant within 3yrs, and earn far more money. Also, going to uni does not in any way guarantee you a job after graduating: you will have to work hard to gain relevant experience during your time at uni (which is quite hard) by applying to internships, and build your skillset to set you apart from others (it's extremely competitive and the spaces available are limited).

If you want to go into IB, then you'll need to take a degree in one of their target or semi target unis. The other users here will offer better advice, as I'm not too familiar with IB.
It takes 5 years to qualify and I have no interest in becoming a Chartered Accountant, salary isn't all that great either
0
reply
Advertisement
kkboyk
Badges: 21
Rep:
?
#4
Report 11 months ago
#4
(Original post by That'sGreat)
It takes 5 years to qualify and I have no interest in becoming a Chartered Accountant, salary isn't all that great either
Whoops, I made a mistake there: it takes 3 years for graduates, or longer if you have to retake an exam (hence why most accounting grad scheme are 3yrs) and around 5yrs in apprenticeship route. It depends on the route you take: lots tend to go into banking and capital markets where most the money are and make full use of their qualification, and others take on roles such as financial director, CFO. Salary wise, a newly ACA qualified accountant should expect to earn more than £40k+

If you have no interest in gaining the qualifications, you may as well just take the uni route and attempt to break into IB.
Last edited by kkboyk; 11 months ago
0
reply
MedicStudent1
Badges: 7
Rep:
?
#5
Report 11 months ago
#5
So basically you just want to take a gap year to work in? Yeah sounds doable.
0
reply
Advertisement
cheesecakelove
Badges: 19
Rep:
?
#6
Report 11 months ago
#6
(Original post by That'sGreat)
If i do, this is my plan:

Do an apprenticeship in Banking and Capital Markets doing Assurance/audit at a Big 4. I intend to do this for a year to hopefully build contacts in the Banking and Capital Markets industry, earn about £20k before going to a Durham Uni/Warwick/Exeter to study History.

I have heard if you do a good job and leave after a year, its not uncommon for this firm to promise you a job after graduation. However, I really want to go into Investment Banking (M&A) or possibly S&T after uni, and was wondering if doing this year will make me the contacts I need to land a good job in these sectors?

PS. Is Banking and Capital Markets a good group in the Assurance sector, as opposed to Insurance and so on
Why are you intending to go to university to study history?

If you do get a place on an apprenticeship, it can be a good opportunity to make a career in finance and make contacts, but leaving just after a year doesn't mean that there is a guarantee of a job offer if you return. Do you have a Plan B if you don't manage to get a place at one of the Big 4?
0
reply
mortgoldman
Badges: 1
Rep:
?
#7
Report 11 months ago
#7
thats all in theory you sound like its guaranteed. problem is u might not even pass the online test let alone get the job
its an interesting one cos ur basically gonna go get a history degree take on the debt, use 3/4 years of ur life up all on the hope to get into IB. .also do u think history is the best degree to commit to? not economics, a+f, business? the only thing you gain is 'skills' but cant the skills be learned in any degree not just history alone? also how do u think that would appear to employers that u got this gold dust apprenticeship then left would that look good or bad on your part?
Last edited by mortgoldman; 11 months ago
0
reply
Advertisement
That'sGreat
Badges: 19
Rep:
?
#8
Report Thread starter 11 months ago
#8
(Original post by cheesecakelove)
Why are you intending to go to university to study history?

If you do get a place on an apprenticeship, it can be a good opportunity to make a career in finance and make contacts, but leaving just after a year doesn't mean that there is a guarantee of a job offer if you return. Do you have a Plan B if you don't manage to get a place at one of the Big 4?
I don't intend on returning to the Big 4, accounting is not what I want to do.

University will open up opportunities in IB, consultancy or S&T. Going down the chartered accountancy route would see me qualify at 24, whereas these jobs could be taken up by 21/22 (graduation). I would then have to choose to take a step back by 2 years theoretically, or move into a bank - but doing something along the lines of accountancy, which as I've said is a big no no.
0
reply
That'sGreat
Badges: 19
Rep:
?
#9
Report Thread starter 11 months ago
#9
(Original post by mortgoldman)
thats all in theory you sound like its guaranteed. problem is u might not even pass the online test let alone get the job
its an interesting one cos ur basically gonna go get a history degree take on the debt, use 3/4 years of ur life up all on the hope to get into IB. .also do u think history is the best degree to commit to? not economics, a+f, business? the only thing you gain is 'skills' but cant the skills be learned in any degree not just history alone? also how do u think that would appear to employers that u got this gold dust apprenticeship then left would that look good or bad on your part?
What job are you referring to? I got the apprenticeship offer in September already.

Debt is repayable only when you can afford it, 3 years doing something I want to vs 5 years following a career i have no interest in. Most jobs don't care what degree you get anymore, its more about the uni you go to these days. Banks and other institutions often actively recruit non-economics degrees, and business is a bit of a joke degree no offence.

Having a Big 4 name on the CV will always be a plus. Reason to leave was to go to university, thats a perfectly good reason.
0
reply
Advertisement
That'sGreat
Badges: 19
Rep:
?
#10
Report Thread starter 11 months ago
#10
(Original post by MedicStudent1)
So basically you just want to take a gap year to work in? Yeah sounds doable.
'So basically' yet massively misses the whole point of the post
0
reply
That'sGreat
Badges: 19
Rep:
?
#11
Report Thread starter 11 months ago
#11
(Original post by kkboyk)
Whoops, I made a mistake there: it takes 3 years for graduates, or longer if you have to retake an exam (hence why most accounting grad scheme are 3yrs) and around 5yrs in apprenticeship route. It depends on the route you take: lots tend to go into banking and capital markets where most the money are and make full use of their qualification, and others take on roles such as financial director, CFO. Salary wise, a newly ACA qualified accountant should expect to earn more than £40k+

If you have no interest in gaining the qualifications, you may as well just take the uni route and attempt to break into IB.
CFO is late stage

My point was asking whether its worth waiting a year to try to build networks in the Banking + Capital Market and put uni on hold for a year, or is there not actually that much exposure with the Investment Bankers of these firms when dealing with the banks?
0
reply
Advertisement
username4515112
Badges: 16
Rep:
?
#12
Report 11 months ago
#12
(Original post by That'sGreat)
What job are you referring to? I got the apprenticeship offer in September already.

Debt is repayable only when you can afford it, 3 years doing something I want to vs 5 years following a career i have no interest in. Most jobs don't care what degree you get anymore, its more about the uni you go to these days. Banks and other institutions often actively recruit non-economics degrees, and business is a bit of a joke degree no offence.

Having a Big 4 name on the CV will always be a plus. Reason to leave was to go to university, thats a perfectly good reason.
if ur starting an apprenticeship this september, then id see how that goes for a couple months go from there
id be wary on taking history degree in case didnt get on IB grad scheme if going into finance otherwise do employers want history or something 'relevant'. id ask a HR professional for advice whether its 'perfectly acceptable'
Last edited by username4515112; 11 months ago
1
reply
Tommaso PF
Badges: 7
Rep:
?
#13
Report 11 months ago
#13
I mean, the question you should really ask yourself is: why do you want to study History but create contacts in the Banking industry?
Do you even know what you want to do for real?
0
reply
Advertisement
natninja
Badges: 21
Rep:
?
#14
Report 11 months ago
#14
(Original post by That'sGreat)
CFO is late stage

My point was asking whether its worth waiting a year to try to build networks in the Banking + Capital Market and put uni on hold for a year, or is there not actually that much exposure with the Investment Bankers of these firms when dealing with the banks?
Depends. I’m in banking and capital markets audit and deal with a lot of people across the business. The people you’d want to network with you’d have to meet in the coffee room and would depend on being staffed to investment bank jobs rather than retail or things like inter dealer brokers (the different firms have different client mixes too - Deloitte has few large retail banks but big inter dealer brokers, PwC is good for large banks, KPMG for not sure and EY for retail banking).

Personally I don’t deal too much with junior level front office staff at my clients and they are most likely to help you get your foot in the door. My interactions are usually with finance management/middle management and the C-suite executive, including at a couple of boutique IBs.
0
reply
That'sGreat
Badges: 19
Rep:
?
#15
Report Thread starter 11 months ago
#15
(Original post by ltsmith)
why IB? i would rather kill myself than spend 100 hours/week in a london office
Good for you
0
reply
That'sGreat
Badges: 19
Rep:
?
#16
Report Thread starter 11 months ago
#16
(Original post by Tommaso PF)
I mean, the question you should really ask yourself is: why do you want to study History but create contacts in the Banking industry?
Do you even know what you want to do for real?
Because I enjoy and am good at History but want to get a job in banking? You do realise doing a History degree doesnt mean you want to become a professional historian, right?
0
reply
Tommaso PF
Badges: 7
Rep:
?
#17
Report 11 months ago
#17
(Original post by That'sGreat)
Because I enjoy and am good at History but want to get a job in banking? You do realise doing a History degree doesnt mean you want to become a professional historian, right?
You do realise that being good at History doesn't mean you have to get a degree in it, right?
0
reply
Advertisement
That'sGreat
Badges: 19
Rep:
?
#18
Report Thread starter 11 months ago
#18
(Original post by Tommaso PF)
You do realise that being good at History doesn't mean you have to get a degree in it, right?
But you do realise you need a degree to get into IB graduate jobs, right?
0
reply
Tommaso PF
Badges: 7
Rep:
?
#19
Report 11 months ago
#19
(Original post by That'sGreat)
But you do realise you need a degree to get into IB graduate jobs, right?
And do you realise I didn't write "don't get a degree", right?

There's plenty of people out there with more relevant degrees and killer CV's trying to get into IB.
Kudos to you if you pull it off with a degree in History.
1
reply
That'sGreat
Badges: 19
Rep:
?
#20
Report Thread starter 11 months ago
#20
(Original post by Tommaso PF)
And do you realise I didn't write "don't get a degree", right?

There's plenty of people out there with more relevant degrees and killer CV's trying to get into IB.
Kudos to you if you pull it off with a degree in History.
And you do realise IB's are actively recruiting humanities degrees, right? It's about the uni you go to, the degree you do means practically sod all nowadays.

I'm not sure why you're even commenting because clearly you don't know any useful information.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

People at uni: do initiations (like heavy drinking) put you off joining sports societies?

Yes (422)
67.41%
No (204)
32.59%

Watched Threads

View All
Latest
My Feed