Is MBA after ACA worth it to break into IB?
Hello WSO and Happy New Year!
I am in my final year as a Big 4 audit apprentice (4yr apprenticeship programme completing ACA) and I am looking at my options for breaking into IB.
Having enrolled in the apprenticeship as a school leaver, I have no degree, and from the multiple analyst/intern job adverts I have encountered, having a degree in any discipline is mandatory. I am considering whether to complete a masters (MBA or MiF) to increase my eligibility for an IB role, after completion of a masters apply for internships/analyst 3 roles.
Alternatively, I can internally transfer into our M&A/TS/Val teams and spend 18-24 months building experience to come into IB at analyst level. From the networking I have completed thus far, I know of people who have no degree and have transitioned from Audit school leaver to IB this way, so is definitely possible with no degree.
It seems like a number of banks (particularly EB’s) are actively recruiting Big 4/ACA accountants into IB analyst programmes, however, not sure where these banks stand of school leavers with no degree?
Would be great to have some advice from people who know of people in a similar boat or have made this transition themselves.
Thank you
I have friends who have done both: Audit w/ degree -> IB, Audit school leaver programme -> IB. We had a fair few ACAs at my bank.
There is still a preference for degree holders - whilst this is an outdated view, it is something you should be aware of in order to position yourself to compete. Therefore, adding another qualification e.g. CFA / MiF / MBA would definitely be a plus. I would probably lean towards the CFA / MiF personally, as MBA hiring in London is getting more and more difficult, as a number of banks in London (not all) have scrapped their MBA associate programme.
More important than qualifications is getting direct experience. That means M&A roles either within the Big4 (Corporate Finance) or MM bank. I would definitely lean towards M&A vs. TS / Val. Whilst you will see some individuals from TS / Val in IB and PE, M&A definitely gets more looks. Worth noting that in London some banks hire directly from Audit for top-performers e.g. Fenchurch, Rothschild, etc.
Really helpful, many thanks!
Thought I'd share what I've seen, M&A experience will always be more valuable than an MBA / CFA / MIF.
Know someone who went from B4 Tax -> B4 M&A -> Joined an EB, now works at a UMM / MF PE. Did this via the apprenticeship route similarly to yourself, it takes time but is very doable if you really want it.
If you can't transfer into B4 M&A team, also worth looking at the likes of GT etc, still opens doors into the likes of Rothschild etc.
Best of luck
Really helpful, many thanks!
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