Moving from Audit to Investment Banking in London
Hi everyone,
A bit about myself, I am a third-year in FS audit at one of the big 4 in London, having graduated with a 2:1 from a target university. After completing my ICAEW ACA qualification, I am now looking to move into FIG/FinTech focussed Corporate Finance/ Investment Banking. Some of my peers have advised me that I should pass the CFA level 1 before submitting any applications, whilst others have advised me against it unless I am planning to apply to AM.
Due to the level of commitment required, I wanted to reach out for advice regarding whether you would recommend attempting the CFA Level 1.
Of course, any additional advice on how to approach the switch would be much appreciated as well.
Thank you.
From experience, I don’t think the CFA is that important; it might give you an advantage of applying to asset management/ER roles, but for IB I think gaining some transactions experience takes precedence
Is it possible to move to the M&A team at your firm?
Yeah, I will definitely be applying internally.
Check out the content creator YFG- your finance guru
She moved from Deloitte Audit to HSBC (Ldn) from Lboro uni and talks about her journey. Definitely possible
Having done what you want to do (my journey: big 4 audit -> ACA / equivalent + all 3 CFA levels -> boutique M&A -> MM IB), don’t do CFA, no one in IB cares unfortunately. Get into contact with your big 4 team’s TS or M&A team instead. Or even a BDO / Grant Thornton M&A team to start off with. Much better use of your time. Take the time you’d have spent studying for CFA L1 and take every course you can about M&A - you’ll have to show despite being in audit you have a good grasp of what happens in M&A. Ask a mate for the corporate finance and equity chapters of CFA Level 1, those are useful, but don’t bother with the rest.
I would spend that time networking, studying for IB technicals, learning basic modelling and reading about industry trends.
Looking knowledgeable in an interview will take you further than having a CFA Level 1 in your CV. No one really cares about CFA in IB.
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