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No you do not need a CPA for IB and I would suggest pursuing it before you graduate not after
So you would recommend getting it regardless if you are aiming to pursue a career in private accounting? Just wondering because I know a few people who majored in Accounting, and some who even received their Masters in Accounting, and they did not bother to pursue their CPA yet have a job in IB or PE.
I am not an accountant but I know that you do not need a CPA to do IB or PE. Sure if you are an accountant at one of these firms you might need it. Since you havent broken into IB at this point, there is a significant probability you will not coming from a non-target by the time you graduate so you might want to work in accounting and get your CPA to do so
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CPA stands for Certified Public Accountant. You seem pretty ignorant so I spelled it out for you. If you are not working at a public accounting firm, you do not need a CPA. It can't hurt, but it is completely unnecessary.
What was so ignorant about what I said? It's a valid question. There are people out there who work in IB but have a CPA, and others that do not. It seems like you are the one who seems pretty ignorant.
Asking if you need a public accounting designation for a career that has nothing to do with public accounting seems pretty ignorant in my book. And speaking of books, go read one instead of wasting my time, slugger.
Get your CFA instead
Thanks for the reply. Have you taken it? If so, would you be able to tell me what it is like and what I should expect?
Passed Level 2, will be taking Level 3. Levels 1 and 2 cover 10 topics ranging from financial statement analysis, derivatives, portfolio management, equity valuation, etc. Personally, it has helped me in I Banking even though CFA is not tailored for Banking, it definitely has a good amount of material that is applicable to Banking. Spent about 300 hours for Level 1 and 400 for Level 2.
Hi all, sorry to comment on an old post. CPA here 3 years post undergrad, experience in Big 4 and now a start up tech company. Currently have a mix of all audit/tax work given the smaller size of my current company. Enrolling in the CFA institute, hoping to pass level 1 within next few months and using that as leverage to try and break into a finance roll at analyst level. Ideally would like MMIB or corporate banking, would also consider valuation role at a boutique (not big 4 valuation unless given associate). Hoping my willingness to take an analyst role will help. My question is if this doesn't work out, would a part time MBA from a very good school get the job done? Have saved up a good amount of capital so would gladly go get an MBA but dont think full time is an option for me as cannot afford to take off 2 years of work. Thanks!
Gives you a little credibility if you're arguing with someone on spreading comps or something. Otherwise it's not really helpful. Applicable prior job experience is what will help you if you eventually want to land an analyst spot which is a tough hill to climb, not gonna lie.
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