Hello!
Long time WSO reader here, but first time poster.
Story: Currently an audit Senior Associate in a Big 4 midwest office looking to move into investment banking.
Background: I've had this goal since college, but I didn't go to a target school (went to a midwest public school that has minimal BB/ MM placement) so at the time Big 4 seemed like the most prestigious/ best learning and work experience. Been auditing a Fortune 25 company for 3 years and feel like I can spin my experiences to be relevant in IB. Most notably worked on a $1B acquisition and $2B spin-off, as well as many debt offerings, ($1B+), but all from the audit side - these are what really caused me to begin seriously considering IB. I want to be at the forefront of these transactions. I feel like the time to make my move is now, before I continue down the audit path too far and am pigeonholed. I'm not considering MBA at this point b/c I want try breaking in through other means first.
College: Midwest public Accounting major, information systems minor. Dean's list (x2) 3.5 major and overall GPA. Could have been higher but I had my full time Big 4 offer after only two years of college so I didn't have the intense motivation to work extra for a higher GPA. Passed all parts of CPA exam on first try within 12 weeks.
Questions: 1. Should I look to make the internal move to Big 4 Corporate Finance first? I am in the US. I know Big 4 Corp Fin is huge internationally, but unsure of its place/ size in the US and how competitive this compares to breaking into IB? 2. If Corporate Finance is not possible, would the next best move be Transaction Services, such as Deals or Financial Due Diligence for a couple years then jump to IB? Or should I network hard and jump straight from audit to MM due to my acquisition/ spin-off experience? Is M&A from the audit side relevant at all?
Any and all help/ opinions are greatly appreciated!
Easiest route would be an MBA. Gun for Kellogg/Ross/Booth.
The answer is going to be different for many people. I just had a great conversation with a guy who went Big4 audit to Top MM IB directly. I’m currently trying to network and hope to make a similar move but have also initiated a transfer to Big4 transaction services.
I am a believer that anything is possible if you try hard enough to get it done. You will need to network your ass off to make it work direct from audit. You might want to consider boutiques and local IBs first and then potential lateral to a larger firm after a year or two. It’s a numbers game, so just throw your resume out there to as many positions as you can.
As for Big4 corporate finance, they are equilivent to a MM IB but I’m not sure the reputations these groups.
This is absolutely accurate. With that said, an elite MBA gives you so much more than investment banking placement in the long-term relative to a few years in a Big 4's transaction practice. YMMV.
I definitely agree with that statement. I've been in audit for a long time now, so for me personally, an MBA is last resort!
Thanks to you both for your posts. MBA is definitely my last resort and I want to exhaust my other options first.
Anyone have insights into Big 4 Corporate Finance in US? How big are these groups? How hard to get in? Do they take internal transfers, especially from audit? My thought is it's mostly advisory people. I'm having a discussion with my mentor next week where I'm going to express my interest in this group and try to get started on an internal transfer. It's hard to find info on corp finance, even on the firm's internal website, so any insights are greatly appreciated.
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