I've been reading a lot of the TS threads and haven't come across the answer to my question.
I'm a recent grad from a highly ranked macc program in which I took all MBA finance electives (Modeling/ Valuations, Securities Analysis, Corporate Finance, Corporate Options). I'll be starting in Big 4 TS FDD out of school. I'm interested in MM / IBD / PE in the long term.
I have a pretty extensive finance background outside of my degree (extra curricular's, market knowledge, etc) and will aggressively pursue networking opportunities.
Ive also considered pushing for a transfer into the Corp Fin practice.
Questions:
Does the timing difference of starting TS out of school (avoiding 2 years in audit) change the dynamic of pursuing the IBD / PE / MM career paths as opposed to the traditional audit -> TS path?
What is the optimal time horizon for staying in TS FDD before pursuing a internal transfer to Corp Fin or lateral to IBD / PE?
Does that change the types of positions I can pursue or impact the perception as an accountant?
I appreciate any advice you guys have!
I thought this would be obvious but here it goes, yes. You will have an advantage over the audit -> TS people because you are already in TS.....
Quick question, how did you start in TS straight out of school?, I thought they only take top audit people into TS, as audit is a prereq. for FDD, at least that is what they say at PwC.
Not to sound like a dick but that's what they tell people who aren't from target schools (I was in your same shoes) for those groups. However, if you hustle and network you can still get the offer (I'm proof although I declined it)
Hmm you are probably right. Thanks for the insight.
I'm not sure how you can even ask if TS is 'better' than audit for going to IBD. Clearly you're doing work that is more aligned with banking in TS than audit.
You will still have a hard time getting into a BB bank (if that's what you're interested in) coming from TAS.
Strategy,
Thanks for the input! I do understand the TS gives better leverage for breaking into IBD. My question pertains more to the timing difference of 2 years (not spent in audit) and if that changes the dynamic of breaking into IBD / PE
If you're looking to be an IBD analyst, think of it this way:
Scenario A: 2 years in audit ~1 or so years in TS then IBD. You will have 3 (probably more) years of work experience before becoming a 1st year analyst (I don't have proof but I doubt you'd come in as a second year).
Scenario B: ~1,5 years in TS then IBD as first year analyst.
In scenario B, you get to your 'goal' much quicker.
If you're looking to make the move post MBA, then it really doesn't matter as long as you get into a school that recruits for the type of bank you're targeting.
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