The Student Room Group

URGENT-career advice in finance

Does anyone know anyone who provides career advice relating to finance I.E. The big 4 corporate finance and banking?

Scroll to see replies

Original post by Anonymous2585484
Does anyone know anyone who provides career advice relating to finance I.E. The big 4 corporate finance and banking?

Plenty of people on here who work for the big 4/or in banking so probably best to hunt them out and PM them. I work at a big 4 in audit and assurance if I can help with anything.

Otherwise have a look on threads where people ask for advice on applications for whichever industry you're looking at and PM those people who are giving advice.
Original post by Anonymous2585484
Does anyone know anyone who provides career advice relating to finance I.E. The big 4 corporate finance and banking?

What specifically do you need advice on? You can just ask here.
Original post by anonuser99
What specifically do you need advice on? You can just ask here.

I'd really appreciate some advice if you have the time because I don't know what to do and I'm finding it tough to find advice.

Basically, I'm currently 17 and I think I want to go into corporate finance/deals as a career. I've been offered an apprenticeship at Mazars in this service line, studying towards ACA then CFA.

I've got offers from Warwick, Leeds and Durham for A&F. I'm not keen on uni but apparently Warwick is good for what I want to go into.

To keep it short, I'm curious about:

1)How often do people move from Mid-tier firms to the big 4 once ACA qualified? Do you think I'd be able to get into the corp finance team at the big 4 once qualified or will I struggle due to my lack of a degree?

2)Do you think I'll have difficulty getting into corporate finance/investment banking/consultancy after uni? I've heard it's incredibly competitive which is why I'm looking at an apprenticeship

3)Do you think a lack of a degree will hold me back from progression? Will I find it hard to break into private equity, for example?

I'd really appreciate your thoughts on this, thank you!
Original post by Anonymous2585484
I'd really appreciate some advice if you have the time because I don't know what to do and I'm finding it tough to find advice.

Basically, I'm currently 17 and I think I want to go into corporate finance/deals as a career. I've been offered an apprenticeship at Mazars in this service line, studying towards ACA then CFA.

I've got offers from Warwick, Leeds and Durham for A&F. I'm not keen on uni but apparently Warwick is good for what I want to go into.

To keep it short, I'm curious about:

1)How often do people move from Mid-tier firms to the big 4 once ACA qualified? Do you think I'd be able to get into the corp finance team at the big 4 once qualified or will I struggle due to my lack of a degree?

2)Do you think I'll have difficulty getting into corporate finance/investment banking/consultancy after uni? I've heard it's incredibly competitive which is why I'm looking at an apprenticeship

3)Do you think a lack of a degree will hold me back from progression? Will I find it hard to break into private equity, for example?

I'd really appreciate your thoughts on this, thank you!

Weirdly enough, someone asked almost the exact same question not 2 weeks ago. I'm surprised you're not the same person. I answered in depth there so go read. It's also worth noting tho, that I think this guy ended up going with the apprenticeship. Here's the thread:
https://www.thestudentroom.co.uk/showthread.php?t=6832826

FYI (and I'm sure you'll find this out later), there's no point doing the CFA for IBD.

Something I'll add for Q2 is that finance is extremely competitive because most people don't do what they need to do to get in. A lot of people apply late, or yolo an application with practically a blank CV, or don't get their CV and cover letter checked out by someone who isn't their careers adviser (never trust your careers adviser, they know nothing). The people that do everything right and still don't get anything decent are few and far between.
Reply 5
Middle tier to top 4 just doesn't happen! The top 4 have their own very specific training methods and company cultures. Just too complicated to assimilate outsiders for them.
Reply 6
On top of that, as their own graduates and apprentices move up the career ladder, they filter them out, offloading to clients etc
Original post by Euapp
Middle tier to top 4 just doesn't happen! The top 4 have their own very specific training methods and company cultures. Just too complicated to assimilate outsiders for them.

Also @OP there is a very easy way to check this. Simply go to LinkedIn, go on Mazars page -> People -> All employees -> Filter current company: Uncheck "mazars" and check all 4 big4 firms -> Filter past companies: Mazars

This will show you everyone who is now at the big 4 from mazars.
Original post by Euapp
Middle tier to top 4 just doesn't happen! The top 4 have their own very specific training methods and company cultures. Just too complicated to assimilate outsiders for them.

I've spoke to a lot of people who've worked at the big 4 and they've told me it's very common...I don't even know what to think now?
Hello.
Focus on your key skills. A lot of finance jobs are advertised in local newspapers, on Indeed and Reed as well start there. Ask good questions and make sure that you carefully read the job description and check out some personal specifications too.
Speak to a good trustworthy career advisor as well regarding updating your resume and discuss further progression options. You can even see if you can find a few different former graduates currently working in the corporate fast paced finance sector who can give you good advice and get their contact details in addition.
Make up some brief notes on top of that. Remember to read beyond the lines of the job description and the personal specification in order to figure out exactly what is being implied only. Highlight all of the essential key skills in blue etc. Do the same for desirable qualities listed as part of the ps document in red for example. Prepare a short list for reference. Also print off two copies of your resume. Read up on interview technique and practice. Afterwards get a feedback report on performance and technique to read over.
Original post by anonuser99
Also @OP there is a very easy way to check this. Simply go to LinkedIn, go on Mazars page -> People -> All employees -> Filter current company: Uncheck "mazars" and check all 4 big4 firms -> Filter past companies: Mazars

This will show you everyone who is now at the big 4 from mazars.

Out of 19,000 employees, 1000 are now at the big 4 who were previously at Mazars. Though I haven't done the other way round yet.
Original post by anonuser99
Also @OP there is a very easy way to check this. Simply go to LinkedIn, go on Mazars page -> People -> All employees -> Filter current company: Uncheck "mazars" and check all 4 big4 firms -> Filter past companies: Mazars

This will show you everyone who is now at the big 4 from mazars.

However, ones who work at either JP morgan, UBS or Blackstone is 64.
Original post by Anonymous2585484
However, ones who work at either JP morgan, UBS or Blackstone is 64.

I mean that's an incredibly small set of investment banks and PE firms, so I'm not surprised. One thing I'd also check for when looking at PE firms is that people can move from professional services firms to PE to become *accountants* at the PE firm, not investment analysts. So there's likely to be a mix. In addition, not everyone who works at JPM or UBS or any other investment bank is an investment banker.

Original post by Anonymous2585484
Out of 19,000 employees, 1000 are now at the big 4 who were previously at Mazars. Though I haven't done the other way round yet.

I know what you meant but that figure doesn't make sense. 19000 are at Mazars RIGHT NOW. It isn't 1000/19000, the denominator is probably a bigger number if you account for people who've been at Mazars over the past 5-10 years. Also, B4 in total have around 750k-1m workers. For reference. The other way around (how many were previously at big 4 now at mazars) makes no sense because i doubt anyone is going to move in that direction.
Reply 13
Original post by Anonymous2585484
I've spoke to a lot of people who've worked at the big 4 and they've told me it's very common...I don't even know what to think now?

Corporate finance is highly competitive. Alot of Big 4 auditors, who are high performing want to move into these divisions etc... Might be difficult to go into Corporate Finance at Big 4 but if you already have experience in it, I can't see no reason why not ?

Original post by Euapp
Middle tier to top 4 just doesn't happen! The top 4 have their own very specific training methods and company cultures. Just too complicated to assimilate outsiders for them.

I would disagree. Being an ACA myself and speaking to many people who work for Big 4 about opportunities out of my own curiosity, I don't think cultures and training methods will be a factor. Big 4 are always looking for newly qualified ACA's with some relevant experience. Easiest way to get in would probably be Audit. Some other divisions are heavily subscribed but I'm sure they would take people on with the right experience from a lower tier company. Some of my friends are at manager levels at Big 4 and say the same thing.
Reply 14
My Mother worked for one of the top 4, did her training and exams with employees from the other 3 and neither her or her friends can name 1 that came from a middle tier, unless they came from a company that was taken over!
Reply 15
BUT the graduate intake came from a wide range of Unis.
Original post by anonuser99
I mean that's an incredibly small set of investment banks and PE firms, so I'm not surprised. One thing I'd also check for when looking at PE firms is that people can move from professional services firms to PE to become *accountants* at the PE firm, not investment analysts. So there's likely to be a mix. In addition, not everyone who works at JPM or UBS or any other investment bank is an investment banker.


I know what you meant but that figure doesn't make sense. 19000 are at Mazars RIGHT NOW. It isn't 1000/19000, the denominator is probably a bigger number if you account for people who've been at Mazars over the past 5-10 years. Also, B4 in total have around 750k-1m workers. For reference. The other way around (how many were previously at big 4 now at mazars) makes no sense because i doubt anyone is going to move in that direction.


That's true, but it's also 1000 who are at the big 4 right now so the numerator may also be larger. You're right that makes no sense at all, though out of 19000 who are at Mazars right now, 1100 were previously at the big 4. Many senior associates at the big 4 move to mid tier firms to achieve higher status I.E. Senior manager.
Original post by Euapp
My Mother worked for one of the top 4, did her training and exams with employees from the other 3 and neither her or her friends can name 1 that came from a middle tier, unless they came from a company that was taken over!

Not sure which line of service your mother worked in but as an current auditor at a big 4 firm I've met quite a few people who started out at mid tier firm and joined PwC as an experienced hire
Reply 18
In which case things have changed and I stand corrected.
Original post by Anonymous2585484
That's true, but it's also 1000 who are at the big 4 right now so the numerator may also be larger. You're right that makes no sense at all, though out of 19000 who are at Mazars right now, 1100 were previously at the big 4. Many senior associates at the big 4 move to mid tier firms to achieve higher status I.E. Senior manager.

The real figure for who was at Mazars at all in the past is 47,000 (28,000 in the past + 19,000 now), though there may be some overlaps from people who left and then came back. The figure for those at the big 4 RIGHT NOW who were at Mazars at some point in their career is 1300/28,000 = 4.6% but I don't think I can find the stats for those who were at the big 4 in the past, as well as Mazars of which there'll be quite a few.

Quick Reply

Latest

Trending

Trending