So… How difficult is the path for a Chartered Accountant to move into an Investment bank?
Has anyone managed to do this?
What other positive background or talents do you have besides accounting?
I have audit experience from the big 4, I have CAIA level 2, I have 1 year work experience as a credit analyst.
I hear it is really difficult to get into IB - I think bulge might be off the table but what about boutiques? Any recommendations?
It happens ALL the time in Florida. But the consensus on here has been that it doesn’t happen much elsewhere.
How hard is it truly to get into IB?
The only reason BB is off the table for you is because they 95 percent recruit on campus at target schools. Outside of that, I’d say getting a job in IB at a middle market or boutique is way easier than getting a sell side ER job and for sure a buy side analyst role at a fund.
I’ve been offered many chances to interview for IB analyst roles (not bulge bracket) and I have a background in Fixed Income and Alts which really have ZERO to do with IB. As long as you can work 80-100 hours a week without dying, have solid Excel/Powerpoint skills, you can break in.
"As long as you can work 80-100 hours a week without dying, have solid Excel/Powerpoint skills, you can break in. "
This is great !
Any recommended boutiques? I think IB is a good path to get to the buy-side for a fund if you do not have a ER background.
Where are you located and where would you be open to moving to? I only know FL based MMs/Boutiques.
Located in Europe. I am looking at HL, Stifel and Possibly even Citibank.
Are you working in an IB?
why don’t you go for regional or smaller IB? You will be working hard. For the most part you have to show that you are willing to do the grunt work without a hint of dissatisfaction and ready to uphold all directions and instructions.
If you’re in London (which is the case for you) or NYC, it is not that difficult to land an unpaid IB internship at some forgotten and/or never heard of IB shop…6 months of this hell and you are armed with more ammo to get you into paid internship at another small IB shop. Then it’s game on.
The key here is never quit and put a fake smile on your face and grunt it out and get your experience and your rec letter and dip!
Thanks Infinity. A qualified Chartered Accountant and CAIA and I still have to do unpaid internships to get in?? Are those ones I mentioned too big to go for?
Best way to gauge is can you go head to head with a guy/girl with 1 year of IB experience? financial modeling, dcf, debt/equity financing, valuation, etc?
That person with 1 year of experience did nothing but 80 hours a week of tweaking and amending and building financial models and making ppt presentations.