Big career decision coming up.. any help appreciated.. hedge fund is eventual goal
Hey guys this is my first time posting and I've got a pretty big decision coming up and was looking for any guidance that was out there.
Background:
In one of the top 5 Master of Accounting programs in the nation with a 730 GMAT. Came straight from undergrad at not a top school and have degrees in fin, acc, and econ and minor in math with a 3.91 GPA.
Current situation:
Possibly accept a job with a public accounting firm and work solely on hedge funds doing both tax and audit work (primarily tax though) and get CPA.
Goal:
Eventually get into a hedge fund. Not sure what people on the buy side think of accountants and was wondering if this switch is possible. I figure I would be making good contacts within the industry and my story would be that I was on the accounting side learned the industry and now want to switch to the buy side (after 3-4 years). Also, I would be willing to going from accounting to top b-school then to hedge fund (curious as to if top b-schools take accountants).
Other Route:
The other route would be to forgo this opportunity and attempt to get a summer internship with an ibank or consulting firm (the top ones all recruit where I am) and then come back finish up school the fall after and start there in january 2011. Then after working as an analyst attempt to make the switch.
Preferred:
Right now I am leaning towards the accounting route as it would be a full time position starting next fall and there are no guarantees with the summer internship process. Also get CPA this route not the others (not that it really matters). Plus I definitely like the culture at the firm and the people I have met. Also have been told that they have people go work for their clients (hedge funds). However, number one goal is definitely to get to a hedge fund so willing to go the best route.
Any thoughts would be greatly appreciated.
THX
Hey didn't realize how long that was till it posted.. Thx again to anyone willing to read the story and help out
pe guy, trader/pm, or an accountant? What do you enjoy doing?
Definitely a trader/pm. I know also that if I go the accounting route I would have more free time to follow the market and research potential trading strategies. However, I do also realize though that the skill set I would gain from trying to go the ibank/consulting route (intern to full time) would probably be more valuable and transferrable, but at the same time the possible contacts that I would make going the accounting route could be extremely valuable as well. I feel as if they would see me as a person that is raw with a lot of potential and would want to teach me their own stuff (or at least it sounds nice). But yeah a long winded answer is I'm looking for the best route to become a pm
With your background, have you thought of getting into one of those top finance PHD program? This way, even if this hf thing doesn't work out, you can still teach at a business school.
If you go with the CPA route, you most likely end up in an operation role. Your best case is to becoming the CFO of a fund.
If you go with the internship role, I think it's very risky and you have to overcome a lot adversity without much guarantee in the future.
The PHD route is something that has popped into my head but for some reason never seriously considered. I think its probably because I want to experience life outside of school for the time being. However, I am not actually opposed to this idea but feel like I would need to retake the GMAT and really crush it to get into a top PHD program. I know a 730 is good but if I recall correctly the average at the top PHD programs is around 760. Also, do PHD programs like to see some work experience or does it count against you and how often to PHD grads get into hedge funds.
Good god man, the AVERAGE is 760, that means 49.999% of those admitted got lower than that. You seem to have some solid education there I would say you stood an excellent chance at a top phd.
Appreciate the vote of confidence, but I dont think I would really consider a phd program until after working for a few years. Want to get out into the "real word" for at least a few years. Also additional note to my circumstance is that if I took the accounting the job I would sit and theoretically pass the CPA exam before I start (FALL 2010) and then was thinking take the CFA examination and finish it in 3-4 years. And thats when I would try to move directly to hedge fund (trading side) or go to b-school to get to hedge fund.
ddd87, thanks for tons of insight. How did you manage a scholarship at UTA/s MPA program? I'm considering it too.
I'm looking to get into the Texas Energy Finance scene - Anything - IBanking, M&A, Hedge Funds, Investing.
To that end, I was planning to take up UTAustin McCombs MPA (Accounting) degree. The reason I am very keen on UTA is the Center for Energy Finance.
I hold degrees in Engineering and Economics from one of India's top private science & technology universities, alongwith a CFA
What do you think the Texas Finance job market is like for an immigrant? Ideally, I'd love to work with an Energy Focused Hedge Fund, but I need a plan B too.
Any good at basketball? http://www.wallstreetoasis.com/forums/hope-for-non-targets
But seriously...take the offer, and keep doing recruiting for any other opportunities that you think are better.
When people from the Big 4 go to hedge funds, they by and large go there to work on the tax/accounting/operations team, with limited exposure to actual investing analysis or opportunity to move to those roles. Anecdotal exceptions abound but it should be kept in mind. If you are serious about being an investment professional (especially given the time frame you mention in your other thread) you should be working on your CFA yesterday and trying to get a role that touches the investment process sooner than later.
Big career decision coming up.. any help appreciated.. hedge fund is eventual goal (Originally Posted: 11/10/2009)
Hey guys this is my first time posting and I've got a pretty big decision coming up and was looking for any guidance that was out there.
Background:
In one of the top 5 Master of Accounting programs in the nation with a 730 GMAT. Came straight from undergrad at not a top school and have degrees in fin, acc, and econ and minor in math with a 3.91 GPA.
Current situation:
Possibly accept a job with a public accounting firm and work solely on hedge funds doing both tax and audit work (primarily tax though) and get CPA.
Goal:
Eventually get into a hedge fund as trader then pm. Not sure what people on the buy side think of accountants and was wondering if this switch is possible. I figure I would be making good contacts within the industry and my story would be that I was on the accounting side learned the industry and now want to switch to the buy side (after 3-4 years). Also, I would be willing to going from accounting to top b-school then to hedge fund (curious as to if top b-schools take accountants).
Other Route:
The other route would be to forgo this opportunity and attempt to get a summer internship with an ibank or consulting firm (the top ones all recruit where I am) and then come back finish up school the fall after and start there in january 2011. Then after working as an analyst attempt to make the switch.
Preferred:
Right now I am leaning towards the accounting route as it would be a full time position starting next fall and there are no guarantees with the summer internship process. Also get CPA this route not the others (not that it really matters). Plus I definitely like the culture at the firm and the people I have met. Also have been told that they have people go work for their clients (hedge funds). However, number one goal is definitely to get to a hedge fund so willing to go the best route.
Any thoughts would be greatly appreciated.
THX
The current route you're on would make you the ideal candidate for a Operational Due Diligence Associate sort of role at a Hedge Fund of Funds. As far as switching into hedge funds as a trader, can't say I know anyone with that background who've done that but I'm sure there are examples.
Yeah thats what I figured, but was hoping that maybe someone knew of people switching to the trader side. The reason why is because if there was no chance then would probably forgo the full time opportunity and try for an internship with an ibank. Also do you think that mba at top school after working for accounting firm would help the transition
As has been said, you're getting to a hedge fund with option A is certainly feasible, but it is very doubtful it will be in anything close to the role or career track you are aiming at. Banking would make more sense, as would almost anything actually related to trading or investing. However, don't assume that going to an accounting firm out of college is going to pigeon hole you for life; despite the common perception on this board, life does not break down in to a series of paths that are impossible to deviate from. I know a few very senior guys at respected funds (mostly L/S equity) who started as accountants. However, I think going to regular accounting would make more sense than auditing hedge funds, where most of what you'll learn will apply only to hedge funds; by going to corporate accounting, you'll gain actual business experience that can help you evaluate investment opportunities and give you greater career flexibility, rather than pigeon-holing yourself in to hedge funds before you've ever worked at one (based on your post, I'm assuming you have NO work experience?).
Correct, only work experience is an internship with a financial services firm that was involved in wealth management. Small office and was really a sales job trying to build client database. But yeah I came to the Master program right out of undergrad so I am only 22 and will be 23 when I graduate. As far the general accounting vs hedge fund accounting, I never thought of it that way and figured that by doing the hedge fund accounting I would get some great contacts and hopefully be able network throughout the hedge fund world. Also, if the determination is that this switch is next to impossible then I would be willing to try to get a summer intern with a big ibank and extend my program to graduate next fall. Just trying to get as many different thoughts on the issue cuz have to decide in a few days and would prefer to get a full time job now but only if there was a realistic possibility that later on I could either A get into get a hedge fund on trader side or B go to top mba program then get into hedge fund on trader side..
Gladly welcome and appreciate all thoughts/opinions on the matter..
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