Masters in Accounting to Investment Banking

Hey, this topic might have been discussed before but I was wondering if anybody had any information on which Masters in Accounting programs have the best track record for getting graduates into the Bulge Bracket Investment Banks.

 

None. Every year 1-2 somehow weasel their way into banking, but none of the programs place directly into banking.

In good years, UT Austin and UMich kids managed to get their foot in the door, but I believe it was more of an effort on the part of the kids, not the school.

 

UT Austin, UMich, and I've heard to a lesser extent USC people have gotten in. In fact, UT-Austin even places people into management consulting. My guess is that if you go to a traditional UG target (i.e. Mich, Texas, UNC-CH, USC all get some banks on campus for UGs), then, if you network like crazy and get lucky, you can break into investment banking. It would take a lot of effort though, so unless you're OK with being an accountant, then I wouldn't go for the MAcc.

 

Agree with the above posters. Obtaining a MAcc isn't the standard path into banking, and for anyone knows about the recruiting process, it's VERY standardized.

You may be able to get a MAcc and do something like Transaction Services at one of the Big 4, and weasel your way into banking that way. But either way, it's not the standard path and you'll definitely have a tough time.

 

I would not call it weaseling your way into banking. I worked with a guy from the USC Macc program, he said that a 1 - 2 get into banking a year. The reason the number is so low is because most of the kids going into the program are dying for big 4 and don't really want IB. I would say that you have a decent shot of getting in at Michigan, Texas, USC, & UVA and to a lesser extent UNC, UIUC, Vandy. Just have to put in the effort.

 

Is UVA/UMich a much bigger target for consulting/F500 companies than UNC, or are they at level pegging? I like UNC better, which is why I'm considering a major in finance and then applying to UNC's Macc, but if UVA is better, then maybe I'd be better off applying to Mich/UVA and majoring in accounting

 

If you want to do investment banking then why do you want to do a MAcc program? Usually the people in investment banking with Masters in Accounting are people that changed their minds. You'd be better off saving the tuition money.

 
brassmonkee:
If you want to do investment banking then why do you want to do a MAcc program? Usually the people in investment banking with Masters in Accounting are people that changed their minds. You'd be better off saving the tuition money.

Not true. Some people just need access to OCR to make it happen. A MACC is one way to do this.

 
BabyBuster:
brassmonkee:
If you want to do investment banking then why do you want to do a MAcc program? Usually the people in investment banking with Masters in Accounting are people that changed their minds. You'd be better off saving the tuition money.

Not true. Some people just need access to OCR to make it happen. A MACC is one way to do this.

Except Investment Banks don't go to schools to specifically recruit from MACC programs. You'd have to tag along onto the normal undergrad recruiting that happens to be taking place at the same school you're getting a MACC. Not the worst way to get into ibanking, but there are cheaper options.

 

Wait, let me get this straight, you want to do another Msc degree for what? I am at one of your above choices and I can honestly tell you that it will not make it better for you or even harder. If you really want a job, spend that 20k and one year to network and you will be paid off.

“He never chooses an opinion, he just wears whatever happens to be in style” (Leo Tolstoy - War and Peace)
 

Private equity is what I'd like to do in the long-run, so I'm hoping to first get into IBD or Management Consulting at a firm that could place me into PE in the future. Doing another MSc looks inefficient, I know, but its more like a separate goal of mine as well. Also, as London banks operate in the way that they give you an internship (which I am applying for ATM) and then give you an offer for the next year, I feel like I should close the year long gap with some good education.

So any programs except the ones mentioned I should apply to?

 

If that the case why not go for something different? Management, Consulting... it's very hard to explain to adcoms why you want another A&F degree, you will sound like a prestige addict to them(many, including me, are and it's important to have that name but you still need good reasons for the school nonetheless).

“He never chooses an opinion, he just wears whatever happens to be in style” (Leo Tolstoy - War and Peace)
 

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