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    Hey,

    In terms of long-term job prospects, do you think its better for a grad to go for a job in a big 4 firm, or FO IB in a firm such as Deutsche Bank/ GS?

    As I see it, accountancy is initially lower pay but shorter hours. Crucially, after 3 years you'll be a chartered accountant. Does being a chartered/ certified accountant command a higher salary in the city than someone with 3 years experience in IB but only a UG degree (from somewhere like Cambridge, LSE etc.)

    Also, I think to become a CFO you need some sort of accounting qualification. And of course, as a chartered accountant, when you get burned out from the 14 hour days you can set up your own accountancy firm and make decent money, whereas if you have only say, an Economics degree, you have to try and find a different job.

    What does everyone think?
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    (Original post by 8 is enough)
    Does being a chartered/ certified accountant command a higher salary in the city than someone with 3 years experience in IB but only a UG degree (from somewhere like Cambridge, LSE etc.)
    No.
    IBers have far better exit opportunities than accountants
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    Your post confuses me, particularly the last paragraph.
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    (Original post by jabed786)
    Your post confuses me, particularly the last paragraph.
    His post is very clear.
    He wants you to reassure him and tell him that it is better to be an accountant than to become an investment banker.
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    (Original post by flugestuge)
    His post is very clear.
    He wants you to reassure him and tell him that it is better to be an accountant than to become an investment banker.
    no thats not what I want, I want advise on which one would be the best long-term career path. I'm asking whether its better to become a qualified accountant then go onto something more lucrative, or go straight into IB
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    Accountancy is better long term, in my opinion. At the end of the day it's up to you, IB is definitely more lucrative, in the short term and potential long term. Accountancy is pretty steady.
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    From what I gather...

    S&T (excluding research) is not generally considered to have amazing long term prospects. However IBD equips grads with very transferable skills and thus strong exit opportunities.

    By the same token, an ACA with one of the Big4 can also give you some good exit opportunities, both in terms of setting up your own practice, or moving to an alternative industry such as Law or IBD (though this is still not an easy switch to make).
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    70% of CEOs are ACA qualified.
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    Yours in size for accountancy. Most accountants are just failed bankers. Interesting point about S&T exit prospects. I personally disagree with the likes of HFs, prop shops ect. But it would be fair to say that you are pidgeon holed into the financial markets path. IBD allows one to go bascially anywhere with the transferable skill set.
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    The answer, as with most questions, depends entirely on the premises of your question.

    You said 'long term', what do you want to do in the long term? If you want steadiness and not work long hours or risk being burned out then accountancy would be better. Banking doesn't really offer those but there is a different payoff. So there's no answer apart from you decidng what you want and then determining what path gets you closest to that.
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    (Original post by The Enchanted Milkman)
    70% of CEOs are ACA qualified.
    Is this for the FTSE100 or something? Because 70% of ALL CEOs are not ACA qualified. Not even 1%.
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    (Original post by West Ham Banker)
    Is this for the FTSE100 or something? Because 70% of ALL CEOs are not ACA qualified. Not even 1%.
    I also very much doubt that 70% of FTSE 100 CEOs are ACA qualified. Possibly CFOs though.
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    Hey guys what about making the jump from ACA audit to buy side equity research, is it possible? I have been trying to put together a plan B in the event that I am unable to get a place on a grad program with a fund house. It seems to me that the ACA might make this transition possible.
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    (Original post by flugestuge)
    IBers have far better exit opportunities than accountants
    e.g ? expand please
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    Accountancy is boring, low paid, and the fact the Big 4 hire 10,000,000 graduates a year means that it isn't great.
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    (Original post by loggins)
    From what I gather...

    S&T (excluding research) is not generally considered to have amazing long term prospects. However IBD equips grads with very transferable skills and thus strong exit opportunities.

    By the same token, an ACA with one of the Big4 can also give you some good exit opportunities, both in terms of setting up your own practice, or moving to an alternative industry such as Law or IBD (though this is still not an easy switch to make).
    forgive me for being naive, but there is a lot of talk about exit opportunity, so much so that it gives the impression that people are thinking about exiting before they even enter. Why is this and what would you say are good/desirable exits?
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    (Original post by Breitling)
    I also very much doubt that 70% of FTSE 100 CEOs are ACA qualified. Possibly CFOs though.
    I think the statistic is that 70% of FTSE 100 companies have an ACA on their board.

    And from my own experience CEOs that I've met have either worked in the relevant industry, worked in accountancy or worked in banking/(PE)

    Th point is you can get in by pretty much any means - but it remains tough and you'll need to have either worked at the company for a while or have the right relationships (which I'd argue are easier to make in IB/Fund Management rather than Accountancy

    Nonetheless, you wont be able to do 3 years in IB or Accountancy and then just walk into a CEO role at a half decent company - you've got a good 20 years of networking to go!

    *********
    Edit: given that you were talking about being a CFO originally then yes, an accountancy background is important
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    (Original post by dark_link)
    ...people are thinking about exiting before they even enter. Why is this
    Because Analyst jobs only last for 2 years.
    Then it is ¨up or out¨.
    Of course, you could leave ,do a MBA and then return for 2 years as an Associate at the same or another IB.
    But then exit issues loom again.

    (Original post by dark_link)
    what would you say are good/desirable exits?
    PE, VC, hedgefund and C-level corporate jobs are the traditional objects of desire.
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    Operations at a Big bulge or Big 4 ACA?
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    If money's your primary concern, then clearly IB wins out. If freedom to change your career later on (i.e. exit opps) is a priority, then IB probably wins out too - although when it comes to changing your direction the main difference will be your own motivation and ability to manouvre around the corporate world.

    If, however, you want a secure profession for life with decent pay and reasonable hours, then accountancy probably wins.
 
 
 
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