Audit -> IB Stepping Stone Roles

Hello gentlemen, I am currently a Senior Associate in Audit at a Big 4 firm in Toronto (almost 3 years of experience and CPA designated). Just wanted to preface the location in case some of you have made a similar transition within Canada as I would love to connect.

Based on discussions with professionals who have successfully transitioned into IB, it appears that a direct move may be challenging, especially in the current hiring environment. Therefore, considering that I do not want to stay in Audit for another day as it makes me hate my life, I have been applying to different positions in order to land a "stepping stone" role which I would appreciate your inputs on:

  1. Transaction Services (FDD) at my current Big 4 firm
    • Hesitation: firm has a toxic policy of clawing individuals who have transferred services lines back into Audit during the "busy season" which I would not want to do.
  2. Transaction Services (FDD) at a mid-sized firm (Big 8)
    • Hesitation: firms FDD practice is a lot smaller than my current firm. However, having spoken to the team they seem very genuine and obviously no clawback risk either.
  3. Restructuring Consulting at a firm like A&M or FTI
    • Potential Benefit: Exposure to distressed M&A and debt advisory. Pay also is a bit better than the above options.
  4. Equity Research:
    1. Potential Benefit: helps develop modeling skills. 

Would really appreciate your input! Another concern I have would also be the timing aspect of it as I'm not sure how much longer I have left in order to be able to start out as an analyst so would rather make the jump sooner than later

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