Hi Im about to start a 4 year Bachelor of COmmerce Degree at the University of lberta and I wanna know which is better money-wise, Accounting or Investment Banking? WHo makes the most money and how do I get into investment banking if it is the better one? Also how much money are we talkin here? I want millions dammit!
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*Bachelor of Commerce Degree at the University of Alberta
To the best of my knowledge, I bankers make much more than accountants. However, I would still suggest you not to leave accounting in your undergraduate studies since it is a definite plus. I bankers are always looking for someone with best grades (no matter what field it is and a lot of extra curriculars involving leadership.
So if you go ahead do accounting, and ace it, while it leaves doors open for accounting as well, you can still give investment banking a shot.
Thanks ziggy thats a relief. What route would you recommend someone like me take in order to get into Ibanking? Any books you could recommend as well?
Investment banker or accountant? (Originally Posted: 04/18/2013)
Which job has a higher demand? Better Salary and better hours?
Thanks
higher demand: accountant by far higher salary: investment banker better hours: both have shit hours, but an accountant works on average less hours.
do something worthwhile to society
Wasn't this posted yesterday with a bunch of awesome responses? I'm thinking this is spam
Do you have the link? Can't find it with the WSO search function.
As if a Rothschild has to work..
Investment Banking or Accounting? (Originally Posted: 04/17/2012)
In terms of high flying, high paying corporate careers what is the best profession. Don't care too much about how long the hours are, just want to know which would give one the highest chance of achieving a big salary ($400 000+) and high flying positions in big companies. Any other professions? EDIT: This is out of interest, not out of future-planning. I re-read and it sounds all wrong, but trust me, not just in it for the money haha. thanks
Sounds like you're in it for all the wrong reasons.....but I digress
what he said
anyways... if you're into IB, then IB... if you're into Accounting, 400k would be attainable if you're a badass
This is out of interest, not out of future-planning. I re-read and it sounds all wrong, but trust me, not just in it for the money haha. thanks
A big-4 partner makes that, an associate or VP at a BB/MM makes that. You don't get to make it unless you're good and that's usually correlated with liking the field you're in.
Lol, a big 4 Partner def makes more than $400k a year I would say comp would be closer to $700k on average could be more.
A big-4 partner makes that, an associate or VP at a BB/MM makes that. You don't get to make it unless you're good and that's usually correlated with liking the field you're in.
Troll?
I'm interested in both fields equally.
I'm interested in both fields equally.
Well look a little bit more into them. In the mean time, I'm pretty sure that you can get an IB job with an accounting degree, so you could always do that and leave both options open.
Thanks for the advice. Can you progress much by staying in IB? Onto positions earning 300-400k +? Also I am in Australia and hear it is extremely ridiculously hard to get into IB. I even read a figure that said only 2% of graduates applying are taken in?!?
What would you be better at?
You can definitely make 300-400k in IB IF you're good enough. As far as salary progression goes, not much beats IB.
Thanks again. You don't know about IB opportunities in australia?
No idea. For realsies though, make sure you're gonna like it. Obviously you're gonna get hung up on the potential money, I did, I'm sure most people do, but you can work up to 100 hours a week... not something you're gonna stick with if you absolutely it.
No prob. Good luck figuring it out, I'm sure you'll be bouncing between 5 other ideas too ha.
What is your criteria for 'best'? Money? Power? Stability? W/L balance?
Banking: more money, more connected, more options.
Accounting: MUCH more stable, more free time, more clearly defined work.
Both have upsides, it depends on what you're looking for. If you're 20, do banking, you gotta do something cool while you're young. When you want an actual life, do accounting or something, they don't ball out nearly as much but they generally aren't hating life as much when they turn 40.
My dad's been an accountant for a bank for the longest time and although he doesn't hate his life, he's not enjoying it either. I think it depends on your personality. Accountants are generally more stable and is a low-risk job on the other hand IB has a much more dynamic career path (compared to accounting) but observing my friends who are investment bankers are more anxious.
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