Ideal timing for my jump to Investment Banking?
Hi everyone.
To give you some background, I graduated (undergrad) in 2012 from a non-target school (graduated Summa Cum Laude) and worked for 2 years in Audit at PwC and left in June 2014 for a Senior position in Transaction Advisory Services at EY where I am currently doing buy and sell side financial due diligence work.
I am a CPA (won a prestigious award from the AICPA for having one of the top 30 CPA exam scores in 2012) and am currently studying for Level I CFA exam, which I am taking in December. My plan is to then take Level II in June 2015. Additionally, I am going to try to push for a 3 month rotation in the Valuation and Business Modeling group here in TAS at EY; I can't do a rotation until I have been with the firm for 12 months). Also, my plan is to take the BIWS Modeling Course this December, and to study for and take the GMAT after I sit for Level II in June 2015
I want to make the switch to Investment Banking but want to know what you think in terms of timing? I just turned 25 this month; I have only been at my current job for 6 months. Is it worth waiting until Fall/Winter 2015 when I hopefully have Levels I and II of the CFA Exam passed and have completed a 3 month rotation with the Valuation and Business Modeling group? Would this give me the best chance? Given my education and experience, are my only options analyst positions at boutique banks? or are bigger banks possible- I want to know what is reasonable to shoot for.
Thanks for your help...
I think you can make the move to IB now. You have the grades to do it, and you have some relevant experience as well. The CFA is not a necessity for banking, so don't let that be the only thing stopping you from applying.
In terms of targets, I think you have a great chance going to MM banks (think Harris Williams, BMO, Sagent, Houlihan Lokey, Guggenheim), a chance with boutiques, maybe even elite boutiques (Lazard, Evercore, Rothschild), but maybe a very slim chance with the BBs. That being said, don't let me stop you from applying; if you have the skill and the drive, any bank is attainable.
Also, I see that you plan on taking the GMAT. Have you thought about doing banking after business school? I say this because you would be on a very different path if you start as a post-MBA associate.
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