Masters or wait it out?
Recently finished up my ACA in audit and have always wanted to move into M&A. Unfortunately it seems I have qualified in a period where the industry is in a slump for the foreseeable. In recent years I have heard/seen people move quite easily move with the ACA straight into IB (few cases) and move internally to M&A/Transactions FDD.
Getting a little impatient and internal hiring has not picked up either. Would you recommend I sit tight and wait for M&A/TS vacancies start coming up again (not sure how long that will be) or should I think about doing a masters to pivot my career more easily?
TLDR 1) Wait and transfer to M&A/TS or 2) Do a Masters in Finance (LSE/Imperial)?
Based on the most helpful WSO content, here are some insights to consider for your situation:
Option 1: Wait and Transfer to M&A/TS
Option 2: Pursue a Masters in Finance (LSE/Imperial)
TLDR
Ultimately, the decision depends on your personal circumstances, risk tolerance, and career goals. If you can afford the time and financial investment, pursuing a Masters might offer a strategic advantage. If stability is a priority, waiting and continuing to network internally could be a viable path.
Sources: https://www.wallstreetoasis.com/forum/school/admitted-to-imperial-college-business-school-msc-finance-and-lse-msc-finance-for-2019?customgpt=1, 20 Most Frequently Asked Questions - London Edition, Advice on career and the switch into investment banking, Moving from a MO function (risk/finance) to banking?, Profile Evaluation: MSc in Finance at LBS, LSE, Imperial, Said or MIT
Wait.
There are significant downsides of the MSc route (firstly, you might get nothing at all, and secondly, cost (both cash and opportunity cost)).
I get it that you're impatient, and I would be too. But if you ask my opinion, I'd stay put (and speak to recruiters and other Big 4 - my understanding is that there's more resistance to internal moves within a particular Big 4, so liquidity between them might be better).
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