Best approach for me?
I am looking to break into Equity Research and am looking for some direction on the best route for me to take. I am debating on either trying to get into a MBA program for Fall 2016 or studying to take the CFA in December 2015.
A little background on myself, I graduated from a Non-Target State University with a degree in accounting/finance. I have been working as an auditor in the Big4 for the last 4 years in Financial Services and have my CPA. I realized about a year ago that accounting was not what I wanted to spend the rest of my career doing and Equity Research was something that really peaked my interest and could see being successful in. The problem is I am not sure the best route to take to break into the field.
So any suggestions on where I should go from here would be great!
I think that the MBA would be a good start (you can start studying for the CFA while doing apps). You could also try to network your way in if you know people in the industry. It is good that you have the interest and are thinking early about the switch.
Start by getting your story straight. Every last detail. This kills a lot of people b/c they can't put their finger on why exactly they want a career change. Be specific in thinking of examples of things that repelled you from X and attracted you to Z. Make sure its logical and that it won't paint you such that you look like a tumbleweed bouncing around. Be ready to answer questions about why you didn't pursue this career right out of undergrad. Once you have your story 100% ready, network netwerk network.
Similar background; I think it's possible to break in without a MBA, but having a CFA level I is helpful. Echo what macaroniman said about story. I wasn't in FS so am not sure how that could be beneficial, but by your 4th year you should have pretty good experience with accounting research / with understanding how transactions flow through the statements. Use this to your advantage - building financial models shouldn't be too difficult for you. What you likely lack on the technical side is general market / valuations knowledge, so figure out what industry you're interested in and start looking at research reports - if you have friends in the valuations group, ask them if they have access. Make use of the online sources out there so you can answer technical questions during coffee chats or expected interviews.
Then, again echoing what macaroniman said, network network network.
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