Good evening WSO. I hope you’re doing OK given the coronavirus situation.
I'm a maths graduate (first class from strong semi target) from the UK, I came into uni with hopes of breaking into high tech/quant trading, became disillusioned with my goal due to how much I struggled with degree (managed to get good grades only due to extreme cramming/clever friends/luck) and hard brain teaser questions, wanted easy way out (finance i.e. amazing pay, easier conceptually), failed all psychometric tests, landed audit graduate scheme (desperate times) and accepted it in favour of a data science role, then realised pivoting into corporate finance and then from there into PE is super super tough (ie everyone wants to move from audit to CF, even if I pulled it off I would be in competition with analysts/associates from top BBs/EBs who can speak multiple languages, plus London hiring is much less frequent than US), realised hours are long in finance (=bad personal life?), realised if i ended up stuck in fp&a that it wouldn't be seen as very prestigious at all plus pay doesn't break £100k in many roles at all, realised I would lament losing the maths i spent years learning by doing audit (ie realised that in some perverse way I enjoyed learning maths). The tech industry is booming and there are more openings in tech than for example equity research or something.
Despite all this, i cannot forget how hard I had to work to be average (not good) at stats/complex analysis/linear algebra etc, how difficult problem solving is for me (hint: i'm bad at it), the fact that tech is paid so much less well in London vs US (pay is not much better than good accounting roles, and accounting is probably easier and less stressful), fact that tech seems to have an ageism issue, would likely be working at a smaller firm with people who aren't really my type (since my tech pedigree would likely be not that great) leading to loneliness, less job security than accounting in event of a recession, the fact that I would constantly be having to learn new technologies outside of work to keep up with industry, fact that interviewing for new roles would require much more prep, also there are not many openings at all for data in London unless you're already very experienced so it's an uphill battle.
Basically, I am super super conflicted about this. I think this is a case of decision paralysis, where I am too afraid to make a committed move in one direction and have thus ended up getting nowhere. I flip my view every other day and it is driving me nuts, and mentors of mine who are in finance are imploring me to do tech instead (“it’s the future!”). But I don't think I'd be able to cope with tech (is this a confidence thing or my actual inability, no-one can answer that but myself I know). Is there some kind of job with better prestige than audit yet still not so hard that I would hate my life? Are my views entitled and naive? Am I thinking about this the wrong way? What have you found matters when choosing a career?
Overall, I feel like I could be doing a lot better for someone with my drive, or maybe I just fail to realise how average I am compared to the job market in the roles I'm looking at, either way I would value some insight from you guys. Thanks.
Hi A jar, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
If those topics were completely useless, don't blame me, blame my programmers...
Hi there, I think there are a couple of things you need to keep in mind. 1. Most of all, don't lose faith in your ability, you'll find something even if it does take a bit of time and effort. For example, I got a degree in an arts subject with no direction, but with persistence, and making the job-search a bit like a job in itself, I found a role soon enough. 2. In order to succeed in psychometric tests, which by the way are not designed to be easy, I would recommend practicing! When I was a graduate I used https://www.graduatesfirst.com/ to help me. The main thing here is that you use reports and realise where you are going wrong. 3. To prepare for Interviews, it's not such much about the experiences you have, as much as how you use them to your advantage and talk about them. Use the STAR method (that's situation, Task, Action, Result) in order to structure your answer. To do this successfully, all you really have to do is think how situations you have been in display the competencies the company you apply for desires! You can find this out by researching on their website.
I hope this is helpful, I know I wasn't able to cover all of your concerns!
Best of Luck!
I agree with these! I found this useful as I've been struggling with similar things
Thanks :)
I started in Audit, did CF and am now at an EB. It’s difficult and you need to hussle, but it’s by no means impossible.
You should also be aware that a lot of the London PE funds take people straight from Big 4 CF. Yes, these are the smaller, UK focussed funds, but these are probably the ones most likely to recruit British people anyway.
What was your process like in going from audit to CF to EB? Currently in audit myself (not big 4) and want to make the switch to big 4 CF/TAS, understanding it’s going to be a huge challenge but always optimistic!
Sorry didn’t read your question properly first. Below is for Audit to CF but leaving it there as still relevant.
For CF to EB it really was quite easy, once you are in CF and update your LinkedIn recruiters reach out constantly and then it is a fairly standard interview process as documented on this site. They will try and pitch you everything, but hold out for the better roles.
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It is all network. Don’t even bother applying to jobs / secondments that get posted on the website without having first spoken to someone.
Reach out to mid level (manager and above but below partner) for coffees etc. The will likely have come from Audit too so will know the game. It’s really just about meeting as many of them as possible and coming across like you know what CF involves. This will put you a part as the vast majority of auditors have no idea, they just follow the herd trying to make the move. Once I was on the other side of these chats I was always much more willing to help those that had done some research vs those who didn’t even know what M&A means.
Also reach out to the CF HR person (who does the staffing etc.). They are likely not very helpful but may point you in the direction of which teams need people.
Also start as early as you can. Do not wait until your third busy season to try and make your move, as everyone else will be doing so.
To clarify (just based on your anon. tag) - did you have to do a MBA / Masters before lateraling to the EB?
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