natninja
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As the title suggests. I work in the fund management team for a specialist PE shop and happy to answer questions. Feel free to ask anything but as per norm I'm not going to tell you anything potentially identifying.
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tw15st3d
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Could you say what your career progression was to get to your current role, and how you made the respective moves?

I'm currently in Big 4 audit (banking clients) and after being destroyed for the last few years in terms of hours (for crap pay lol), am looking to move to IB and maybe to the buyside. Wondering if you have any advice for people in this situation.
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Indusvalleybird
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Is it possible to get in after graduation or is it better to spend few years In industry 1st
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ships9
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did you work in IB before?
what were your extra curriculars?
how many hours do you work per day/week?
whats a typical day in the life?
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IBDMaster
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(Original post by tw15st3d)
Could you say what your career progression was to get to your current role, and how you made the respective moves?

I'm currently in Big 4 audit (banking clients) and after being destroyed for the last few years in terms of hours (for crap pay lol), am looking to move to IB and maybe to the buyside. Wondering if you have any advice for people in this situation.
Complete your ACA (and/or CFA), Transition to Big4 CF/TS (either internally or externally), spend 2 years there (if possible, in a relevant sector), transition to an EB or boutique (Rothschild, Lazard etc) then buyside (usually MM PE) or just skip going to the EB/boutique and go into MM PE.

If it's not possible to switch to CF/TS, then get a MSc in Finance at LBS (post-experience) and re-recruit for Analyst 2/3 at an Investment Bank or Associate (1) roles (although this is quite hard to do).

Another option, although very rare, is to switch directly from Audit and move to Investment Banking (usually MM). However, people successful in this move will have a strong background (mostly Oxbridge degrees) and exceptional technical ability.
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narrowroads
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(Original post by IBDMaster)
Complete your ACA (and/or CFA), Transition to Big4 CF/TS (either internally or externally), spend 2 years there (if possible, in a relevant sector), transition to an EB or boutique (Rothschild, Lazard etc) then buyside (usually MM PE) or just skip going to the EB/boutique and go into MM PE.

If it's not possible to switch to CF/TS, then get a MSc in Finance at LBS (post-experience) and re-recruit for Analyst 2/3 at an Investment Bank or Associate (1) roles (although this is quite hard to do).

Another option, although very rare, is to switch directly from Audit and move to Investment Banking (usually MM). However, people successful in this move will have a strong background (mostly Oxbridge degrees) and exceptional technical ability
Does doing audit at a regional office put you at a disadvantage when trying to move to the same firms CF/TS service line in another location?
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IBDMaster
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(Original post by narrowroads)
Does doing audit at a regional office put you at a disadvantage when trying to move to the same firms CF/TS service line in another location?
Not really, although try to transfer to CF/TS at your regional office. Then possibly move to London. London has intense competition from ex-IB people, Big4 London CF people, Big 4 London Audit/Tax people, ACA CF mid-tier people, Big4 Regional CF people.

Then if you want to move to IB, choose a regional EB I.e. Rothschild Leeds, Manchester etc, then lateral to London later.
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natninja
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(Original post by tw15st3d)
Could you say what your career progression was to get to your current role, and how you made the respective moves?

I'm currently in Big 4 audit (banking clients) and after being destroyed for the last few years in terms of hours (for crap pay lol), am looking to move to IB and maybe to the buyside. Wondering if you have any advice for people in this situation.
I moved across directly from banking audit. There are a lot of highly technical areas in banking audit that require pretty deep understanding of models, pricing risk and financial products - if you can get involved in these it would help. Going to say my hours and pay are both significantly better now.
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natninja
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(Original post by Indusvalleybird)
Is it possible to get in after graduation or is it better to spend few years In industry 1st
Yes, we hire the odd graduate into the investment team every now and then and a few into junior roles in fund management - though I'd rather do audit as those jobs are highly admin heavy and not particularly interesting for the first couple of years.

Our experienced hires are split between consulting/B4 (all business areas though fewer in investment or back office), ex-IB (mostly in investment), industry (specialist shop so a lot of recruiting here for asset management and investment) and other PE firms in the space.
Last edited by natninja; 4 months ago
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natninja
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(Original post by ships9)
did you work in IB before?
what were your extra curriculars?
how many hours do you work per day/week?
whats a typical day in the life?
No, I moved from audit directly - not as an unusual a move as you might think.

That's thinking back a long way but I used to be treasurer for my uni music society and was involved in a few other things.

An average week is probably around 50 hours, sometimes more if there's a deal on that has some complexities in terms or structure or our auditors (I have to deal with them in respect of the Fund financials, corporate deal with the PE shop itself) are being more of a pain than usual...

Average day is probably 9am start and check emails, check in with my assistants to make sure they know what they are doing and that they are keeping all the books and records in order for the Fund. Spend some time working on the Fund model and evaluate changes in Fund performance as well as assess financing needs and cash flows - do we need to draw from investors, borrow etc and how is that going to impact performance fees. Check in with Asset Management on upcoming distributions from assets and trouble shoot the odd thing for them or for manager teams of portfolio companies. Spend the rest of the day dealing with requests from investors - these get split with IR who tend to deal with ones that don't need numbers or information about Fund performance.

Caveating the above there isn't really an average day and could range from a full day working on models to evaluating tax implications of an investment structure to DD to accounts prep or model reviews.
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manu10
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Not sure if you'll see this but I'll give it a go

How important are first time passes in the ACA for these roles ?

Does it really matter if you fail one if by the end you've passed and completed the whole thing?
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natninja
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(Original post by manu10)
Not sure if you'll see this but I'll give it a go

How important are first time passes in the ACA for these roles ?

Does it really matter if you fail one if by the end you've passed and completed the whole thing?
Depends on a) where you trained
and b) the opinion of an individual hiring manager

Though all first time passes will never hurt but being qualified is really the key thing.
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Trapz99
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#13
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(Original post by natninja)
As the title suggests. I work in the fund management team for a specialist PE shop and happy to answer questions. Feel free to ask anything but as per norm I'm not going to tell you anything potentially identifying.
I remember, quite a while ago, you posted about big4 audit and it was pretty helpful. Nice to know you managed to break into pe. Congratulations!
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