AM vs funds audit???
Hello,
Can someone help me about making the right choice?
1) I have a proposition within a big 4 to audit investment funds
2)I have a proposition to work as a fund manager assistant for an old private bank (100 $bn of AUM)
Which one to choice if my goal is to make a good MBA and then relocate ? In other words which will best enhance my CV and perspective in finance?
Thank you
What are your career goals? If it is just to get into a solid MBA program then either would be a good choice (although I tend to lean towards the big 4 auditing investment funds). Either path you choose you are going to have to move up the ranks and show a patten of achievement. The fund manager assistant position sounds interesting though. Are you going to get solid experience and a chance for promotion at that place? Really depends on what you ultimately want to do with your MBA when you get it.
In the bank, my duties will be to manage the funds (cash management, subscription redemtion management,...) while being sponsorized for my cfa and explore new investment ideas based on quantitative model (no stock picking), i will so be involved into strategic decision on model change. On the other side the big4 job will involve cash reconciliation, shares matching to the cutsodian and analyse the accounts to see if they reflect reality (i know this is the definition of audit).
Some friends told me that audit will be repetitive and that top mba may prefer asset manager to big4 auditors.
My perspective is to get an mba from a top 10 and then work in private equity/hedge funds or investment banking.
Thank you
Thanks for the clarification. Take the AM position then. Sounds solid, work towards your CFA. It will be better experience and more directed toward your ultimate career goal than Audit.
I vote the AM position - this topic has been covered before, basically:
According to my professor, a lot of top MBA programs have a cap (and a very small one) for ex-auditors with 2-3 years of experience
You will carry an "accounting taint" after you get out of your Big 4 gig, and it may even affect your post-MBA opportunities.
If you decide to work for the Big 4 Audit position, then you can skip MBA and be hired out of your position by your PE/HF/IB clients, but be prepared to do middle/back office stuff for the rest of your career.
One advantage of the Big 4 position is that many CFOs come from that background. However, from the sound of it, you don't seem to want to do accounting.
Besides, personally, the Fund Manager Assistant position just sounds much more interesting to me.
Thank you sincerly for the answers. Very impressed by the rigor you put on it.
Just another point :
The AM role is in Brussels and i was wondering that even it would allow me to have a very unique story to tell for my mba (i think that coming from less represented countries and speak 4 different languages may be a plus), it may also be a drawbacks that the location is not NY or London.
What do you think?
I'm assuming you want to eventually work in the US right? So is the Audit position in NYC?
What is the name of the old private bank? Does it have a large presence in the US/Internationally?
It has a presence in Europe. The name is bank degroof . It is the most prestigious and old private bank of the country. Its asset under management is about 35-50 $bn.
The audit job is in Netherlands. The AM in Belgium.
I want to have experience in a finance fields that will open the doors to others area such like HF/PE/IB but above all that keep the doors open for a top MBA.
Thanks
OK, my vote is still with the AM job all the way! Good luck :) Keep us posted.
Thanks for the answer. You confirm what I thought . I have signed the contract and will send it toninght. Thanks for helping with that choice.
The beauty of europe and the EU permit. Can apply all over in all great interesting locations.
Thanks for the nice comment on Europe ( I am French)
What is impressive is that lot of European want to go to US (it is a dream for us) but I did not know the opposite was true as well...
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