Australian Finance and Banking student in uni adelaide
Hi guys, I'm a student at Uni Adelaide studying Finance and Banking, and I was wondering if it was possible to go into IB from financial analyst, or can you eventually land role on the buy side if you climb high enough as a financial analyst.
Also, I'm planning on doing a master's in Applied finance, which is meant to mimic a CFA designation, would the masters guarantee a role in FA or is GPA still important for employers even if I get a master's.
Also since Australia doesn't have the most prolific finance sector, would I have a better shot in Malaysia, Singapore, London, New York and so on or would those countries favour local candidates instead of an australian?
Aside from FA and IB, I also wanted to ask about stockbroking, I'm not sure what kind of market Australia has for stockbrokers, I'm going guess it's quite small considering the rest of the finance industry here, so what kind of shot would you guys I have of landing a stock broking job either in Australia or the other countries I mentioned with the bachelor's in finance and masters of applied finance?
Thanks guys, really appreciate the help
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Hey mate, I'll attempt to add some colour on these points but keep in mind this is coming from a fellow student.
I'm not entirely sure what you're referring to by "financial analyst", I'm assuming you've seen this listed as a career possibility on the uni website (please correct me if I'm wrong). IMO financial analyst isn't really a career itself, but more a category of careers in which I'd say investment banking would be included but would really include anything that involves, as the name suggests, financial analysis.
A Master of Applied Finance will not guarantee you anything, GPA is always important (as is experience and extra curriculars). I'd personally pick up another undergraduate degree in something like maths/comp sci, law or economics instead (even honours). At the end of the day, the only advantage these provide are giving you more time at University to accumulate experience and extra curriculars which help you secure a "better" internship and grad job (from my understanding at least).
I don't know much about applying for overseas opportunities. From my knowledge it is only viable for people who have citizenship in one of those countries mentioned (so visas don't need to be sponsored) and I don't know about having a better shot. I'd say local candidates would be favoured. While Australia does have a comparatively smaller finance sector, I wouldn't let that deter you, still plenty of opportunities.
I know very little about stock broking, so can't really help you there sorry. I'd say getting a grad job would be less structured than investment banking or big 4 and there could be less demand? Although I really don't know. Maybe look into wealth management and financial planning related jobs and opportunities?
I'd highly recommend poking around the page "Corporate Finance Institute Career Map" and having a look at all the careers associated with corporate finance to get a feel for the different career possibilities. Also reading the breakdowns on "Mergers and Inquisitions" for the different careers (keeping in mind they are very US centric). There is a podcast called "Graduate Theory" (actually run by an Adelaide grad) who did an episode called "on the journey to banking and consulting graduate roles" that gives some good info on getting into investment banking and consulting in Australia that's worth listening to if you're interested in those paths. Viewing people's LinkedIn is also great for seeing what experience others had.
To avoid too much rambling I'll wrap it up there. Feel free to ask anything else/clarify any of your points and I'll try my best to answer them.
very true
Deleted: double post.
It certainly is. Worked with someone from Adelaide, one of the best mentors I had in the industry. Super chill and hard-working guy, really got on with him. From what I've heard, Melbourne and Sydney are the only places worth being in M&A down under. If you can't get in straight away, Big 4 Deal Advisory is a safe bet to transfer offices to London or New York where you'll then have a chance to lateral into IB after 2-5 years depending on performance. Common for quite a lot of leading MMs and boutiques to hire ex Big 4 and even more BBs are being populated with them at the senior level.
Hope this helps
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