Will getting a CPA certificate be helpful to transfer from IB to PE?
wondering if I should spend time on passing these CPA exams to become a more qualified candidate for a PE role
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It won’t help and might be a hindrance as a CPA is an uncommon background in PE. PE will usually just hire a 3rd party CPA when needed.
Thanks for the reply! so even though accounting and tax knowledge (which is covered in CPA exams) may be helpful in PE daily work, getting a CPA is totally overdoing it and unnecessary and even causing confusion?
Yes - Agree. Would focus more on investing and operating skills. How to identify and build a great business.
Regardless of if it would be helpful, every state I know of requires a year of accounting-related experience to actually get the license. I doubt IB or PE would qualify.
thanks! yes you're right, I was just thinking about passing all exams and putting it on the resume but not really getting a license
Yeah there is zero benefit in that then
IB work experience absolutely counts towards the requirement. As long as a cpa signs off on your work experience, you’re good. I worked in IB and had a vp who was a cpa that I never worked for sign off on my work exp. This was in NY. I would call the board and they can give you an answer but it’s very doable.
if you have no other options to enhance your CV, then could be a way
mind you that the cost/effort and reward makes it extremely costly time-wise for an extremely low chance
I heard that some PE team, especially in UK, tend to have maybe 117/18 associates coming from IB and - sometimes - they may as well get between 1-3 consultants/CPAs just to have someone with some deeper knowledge for the DD process. But it's rare.
thanks~ agree, the costs/efforts/time seem to outweigh the benefits
I am a CPA. I got my CPA before I got into PE. The CPA status didn’t help but if your goal is to be a good CFO in a port co, that might help. I wouldn’t get the CPA just for getting into PE. CFA might be a better option to be honest.
Very helpful! and I do have a CFA already
Definitely not worth it. As others have said, it's a hindrance rather than helpful. The extent of "accounting knowledge" required in PE is 1-2 semesters of undergrad accounting, and even then plenty of people don't have that
Shouldn't be a challenge to get from IB to PE, unless you are at some tiny, unknown shop. If so, your time is better spent lateraling up to a bigger shop
Got it, thanks! I'm at a BB, but I'm post-MBA. I have CFA and did finance pre-MBA, but still think it's uncommon to make the move to PE post-MBA, and that's why I'm exploring any possible ways to boost my candidacy.
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