Big 4 CPA wanting to break into Asset Management Equity Research

Hello WSO,

I have been looking around the site and there are some great threads regarding the entire Asset Management industry that have been extremely helpful. I am about to start looking for a new career (if any of you have been an auditor at a Big 4 firm, you know why....misery). I have always had a passion for investing and the markets in general, and found myself spending more time following the markets at work then anything else on a daily basis. My question is a general one, and I am just looking for advice or past experience about how I can transition from Big 4 auditing into the AM world. I think my ideal career would be a PM in the long run, so equity research seems to be the entry point for that career path. Stock picking and research would not feel like actual work to me, as I find it extremely interesting. Can anyone lend some advice on how I can break into the field?
A little more specifics about me and what I am looking for: I would strongly prefer to go to the buy-side at a mutual fund complex. I have an undergrad in Accounting from a non-target school, with an MBA in Finance from that same non target school. I was a Division 1 baseball player and team captain (4 yr starter) at said school, who received a 4 year scholarship. I also have a CPA and 2 years experience in the Big 4 auditing Asset management clients (top 10 mutual and hedge funds). I did not want to stay longer not only because I know auditing and accounting is not for me, but because I did not want to get pigeon holed in that field. Do you think my transition is possible given the aforementioned credentials? Is there any advice you would have for me? Thanks!

3 Comments
 
Best Response

You played your MBA card already and didn't do it well/wasted it. If you were always passionate about investing, why didn't you make this decision earlier and tried to get into a better b-school to maximize your chances of landing AM/ER jobs? Even at a non-target MBA program you could have taken steps to position yourself better for those roles.

I am not sure what else you can do besides randomly apply to different shops, network, reach out to recruiters, maybe pursue the CFA...

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

Soluta inventore animi aut corporis. Est dicta ut quia eos aliquam. Possimus nesciunt eum consequatur voluptate. Neque ut omnis dicta veniam. Nesciunt vitae autem quam velit vero culpa.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (67) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
dosk17's picture
dosk17
98.9
6
CompBanker's picture
CompBanker
98.9
7
DrApeman's picture
DrApeman
98.9
8
GameTheory's picture
GameTheory
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”