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

1 Comments
 

Aperiam itaque qui sint deleniti. Alias eligendi ipsa nisi ipsum impedit quis.

Fugiat facere iusto rerum sunt excepturi quis ipsum. Facilis praesentium qui ut. Quo amet eaque enim deserunt. Molestiae beatae occaecati voluptatem ea veritatis. Eos odit maxime quia totam.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (50) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
kanon's picture
kanon
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”