Serious: Accounting over IB for non-target state schools
Hello everyone! I’m a sophomore at a non-target state school majoring in finance with the intention to go into IB. My school has some Wall Street presence but is very small and extremely exclusive as for networking. We have investment banking clubs but they don’t do much besides asking you to pay money to receive interview guides. It feels like I am fighting an uphill battle and it’s been very discouraging. For the past few years, recruiting has been reduced at our school and even kids who have perfect resumes are getting rejected. I just learned that my school’s accounting program has a 95% placement rate at the big 4. I have a good gpa and leadership experience. I know accounting isn’t the same as IB but in my case it seems more realistic to go into accounting. Just wanted some input on whether I should change into accounting or tough it out trying to get an IB job.
Why not do both? Transfer into accounting and continue networking/preparing for IBD opportunities while also having the ability to fall back on a Big4 offer if you strike out. An accounting degree won’t prevent you from getting looks at banks, but a finance degree will prevent you from recruiting from some Big4 roles as they’re looking for CPA eligible candidates.
In my opinion-- if you are a sophomore it is way too early to give up. Just keep grinding, networking, and trying to get those IB interviews-- no need to pay for guides, if you can't find them for free online PM me and I can send you some materials. Accounting recruiting isn't nearly as accelerated as IB so you can really just go all out for IB and, worst case scenario, if as a senior you find all doors are closed there, it won't be too late to get an accounting job
Non-target here. My school also focused heavily on accounting. I was a business major so kind of had a combination of finance, accounting and marketing classes, and one thing I regretted was that I was not a finance major so I needed to take many not related cores. I don’t recommend to do an accounting degree because things are just so different from an interview perspective. Besides degree matters less. One direction you can explore is consulting affiliated with accounting firms. Roles like valuation/deal advisory are way better compared to things like tax. I had my first internship on my sophomore summer so don’t give up.
I was going to say the same thing, if the only way you can get in to a Big4 is through typical accounting (audit, tax), then get in but look to pivot quickly to Deal Advisory or Management Consulting. This will bridge you in to IB if you are still determined to go that route, or gives you similar exit options to PE, HF, or corporate management.
If you're speaking about a northeastern college and it's the one I'm thinking about - definitely change to Accounting. Accounting is essentially applied finance, it won't hurt you in pursuing IB and open up a lot of opportunities in case IB doesn't work out.
Haha I do go to school in the northeast. I’m not sure if it’s the one your thinking of. Which school were you thinking of?
DM me
Pretty sure I know what school you’re referencing. If so, I can relate. Was draining applying to internships and prepping while my accounting buddies did legitimately no work to get their Internship and FT
I swear it's the other way around? You apply accounting in finance. Accounting is the more "purist" profession considering how long it's been around for.
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