Advice for an unconventional break into IB
I've been lurking for quite a while and finally decided to post. I've read many other posts that have given me a lot of insight into some of my questions, but none quite as specific to my situation as I would have hoped for. I'm hoping you guys can shed some light on what the best method would be in my current situation for breaking into IB via accounting (I know you guys hate these posts, but give me a break).
Some background - I'm an undergraduate student at a non-target university. I will be graduating in one year. My goal is to end up in energy IB in Houston, TX - I know some guys at BMO over in Houston. I chose not to major in finance because 1) I am at a non-target and 2) The 150 hours necessary for the accounting curriculum will allow me to bring my gpa where it needs to be (I did not start my college career in accounting). Side note: I will be graduating at an older age (25) so double majoring would put me off my graduation date even longer and I feel I can't spare the time. Is this concerning given my goal to break into IB from accounting?
My current plan is to either go audit > B Val > IB. I know a few guys in EY FAS and EY audit as well as a former senior audit manager at Deloitte so I'm thinking this is the most secure place for me to launch. Is audit the place to start or should I shoot for a different group?
This is obviously not an ideal situation, but I am very eager to make this happen. I am active in Beta Alpha Psi, I have been taking online modeling courses, and volunteering at a couple of places relevant to my career interests.
I would greatly appreciate any insight you guys have to give based on my situation. Let me know if you need me to clarify anything.
Why not work x amount of years, get some work experience then go to b-school and then go into IB instead.
That's an idea, but I still have the issue of being in accounting for those few years...I guess I could make the switch to B Val though...Would a MFin be just as useful or should I shoot for an MBA at a better school?
Try for business valuation out of school...I am pretty sure you can recruit for valuation roles out of either UT MSF or UT MPA.
In all honesty accounting is the preferred background for Houston from what I have seen. Finance is easily learned and a lot of the success going into Energy IB comes from connections and Alumni networking. I would look through your schools directory as I am sure you will find someone willing to help put your resume in the right place, after that its up to you
I'll look into that for sure. Thanks
There's nothing really unconventional here, you're a non-target candidate going into accounting. Network hard try and get TAS or valuations. After a few months reach out to alumni. I think an MBA is an easier transition.
Ok thanks. I appreciate the advice
Transaction advisory or valuation are your best big-4 entry points. Failing that start in audit and move over.
And yes, it's viable. I know some people who did that straight from Big4 to BB IB. Keep in mind this is much easier at analyst level.
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