Most Helpful

Completely depends on what asset class you trade.

For FICC, little to none: when I worked in FX, there was no accounting at all. Same goes for government bonds. Virtually the same for securitised products (although this was only a brief stint for me) - was less so about the credit worthiness of the issuer (where I'd imagine there'd be a greater emphasis on accounting) than how the mortgages themselves were actually rated by the regulator.

Have never worked in credit, but imagine there is some simply as a result of the asset class itself literally being corporate debt. The most emphasis I've seen on accounting was when I interned at a quantamental equity fund. Even then, however, the knowledge requirement wasn't huge and I found I was able to get up to speed relatively quickly. I wasn't asked about any accounting principles in the interview.

In terms of accounting knowledge for S&T interviews in general (assuming you're mainly interviewing with BBs), I can never (to the best of my knowledge) recall ever being asked anything to do with accounting. Was all brain teasers, product knowledge, general market opinion stuff.

If you're asking this because you study accounting and think it will put you at an advantage from a technical perspective, sorry to disappoint. If you're not and were simply worried because your accounting knowledge is light, you're in luck.

"Work is the curse of the drinking classes" - Oscar Wilde
 

Porro atque adipisci nesciunt libero. Expedita sint et laudantium tempora velit.

Deserunt dolore non labore nobis et fugit. Enim ea ut non nesciunt.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (20) $385
  • Associates (88) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $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

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...”