Advice needed - switching from a Big 4 to an IB firm
I've been searching for an investment banking job, but no luck yet (I'm a final year undergrad).
If I get placed at Deloitte as an associate analyst in their risk and financial advisory wing, would it be possible for me to switch to an IB firm a few months or a year down the lane?
What should I do?
It's possible, and not uncommon at all. It's an even tougher jump from audit than from financial advisory, but that's been done many times as well. Fully prepping with available tools (some are paid), networking with folks at firms you're targeting, conducting informational interviews to set up for future opportunities, and if you're open to it, search across multiple cities, all could help. Specific to your role, to the extent you could speak on any transaction related work would be good to talk about in interviews (i.e. perhaps you've helped prepare a Quality of Earnings report for an LBO for a sponsor, fine combed through EBITDA addbacks, etc., and how your contributions might have influenced valuation). Best of luck!
Thanks a lot for the advice.
And, good luck to you too!
UPDATE - I got the job at Deloitte. Still looking out for opportunities in an IB firm, but I at least have a good backup option now.
associate analyst? Their advisory unit shares the same titles with consulting. Your title would be consultant. I switched in a year, and know of several others who have switched in a year. Though our work was very relevant to the banking positions we jumped to.
I believe the title changes from region to region. The generic title is consultant, but the entry-level title here in India is "Associate Analyst" in all the Big 4s.
Note - There are two Deloitte here in India, namely Deloitte India and Deloitte USI (Offices of US). I would most probably be placed at Deloitte USI.
I would love to start working in Deloitte's corporate finance advisory division, but risk and financial advisory is now the only offer on the table. That being said, I could specialize in M&A transactions in this wing but that would require me to stay here for a longer time.
Anyway, thanks a lot for sharing your experience!
UPDATE - I got the job at Deloitte. Still looking out for opportunities in an IB firm, but I at least have a good backup option now.
congrats!
.
Can you share the types of banks you targeted(BB/EB/MM) and did you target groups that were of personal interest or related to previous deals you worked on. I will be joining a TAS group this summer and would also like to make the switch.
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