There's been a couple of threads that have popped up lately about the CPA exam and whether it would be worth it for the authors try and pass it in lieu of other things, or in their spare time. Some of the comments by other posters lead me to believe there's a lot of misinformation or misconceptions about what a CPA actually is. I think it would be helpful to put some information out there to refer to later, as I feel these misconceptions might lead people away from the best path to achieving their goals. This post is a mixture of my personal experiences as well as a lot of research on the
08 Feb 2015
About a week ago, I was sitting at my desk at my current PE internship when the partners and the CEO were filling in a questionnaire that an investor (bank) had requested. The specific question that caught my attention was one that asked for the caliber of my firm's current and previous interns. The answer provided by the big guys?
There was no mention of my non-target university. I could tell that they felt bad seeing as this was all done 10 feet away from me and I could hear everything, so what followed was an attempt to make me feel better about myself: We have had Ivy League interns, mostly from Harvard, Stanford, Yale and other top universities such as Oxford, Cambridge and LSE.
...and other universities.
04 Nov 2012
Hi everyone, I am currently working as a trainee accountant in London at a mid-tier firm, have a high 2.1 degree (non-financial) from a top 40 UK university (not a Red Brick) and less than 300 UCAS points. As you can see, my academic results are nothing special. However, I am very much interested, once qualified (ACA), in working for an investment bank (front office role) with the end goal of working for a hedge fund. I am currently on track to pass all of my ACA exams first time, and am considering taking the CFA level 1 once I am qualified too, as well as currently educating myself in the
14 Jun 2016
I am starting a role in audit at one of the Big 4 (London office) in September, in the audit team where I'll hopefully gain the ACA after 3 years. My ultimate/eventual aim is to move into the M&A arm of an Investment bank. I've heard that an internal move in a big 4 firm into CF/M&A first is the best way to do this. Firstly, is the best route into M&A in a bank the one mentioned above or is there a more direct route? How easy is it to make the move internally/other Big 4 from audit into an M&A associate role? Subsequently how easy would it then be to move from M&A in Big 4 to M&A in IB? How
30 Aug 2018
Hi all, First time post here so I'm going to keep it concise, detailed and insightful where possible: Background: Graduated from an elite Australian University with decent (credits) marks. Completed two degrees - Commerce (Accounting Major) and Information Technology (Business Information Systems) Graduated with almost 3 years relevant work experience within both IT and Accounting having started in retail sales then successfully progressing to work at a small accounting firm, IBM, venture backed start-up firms and eventual succeed into my current role in Big 4 Accounting (Sydney). Currently:
06 Dec 2014
Hi everyone, I am facing a bit of a dilemma as I got accepted into the USC MSF program, and the Brandeis MAeif program, and am not sure which one to choose. I like the Brandeis program as it has an Economics component to it, as well as many more specialization opportunities vs. the USC program, and to be quite honest I am not 100% sure if I want to pursue finance as a career in the future (I am leaning more towards the Economics side). I feel like if I were to attend Brandeis' program I would have a wider net of career opportunities whereas if I were to go to USC I would have to stick to Finance and nothing else. At the same time, however, I think that Brandeis' reputation probably isn't nearly as good as USC's...
05 Mar 2014
Hi everyone! I'm interested in having a career in finance/i-banking or something along those lines, and am potentially considering the following schools for undergraduate. I would like some input as far as what you would recommend! University of Chicago: major in economics and mathematics Columbia: (double?) major in economics and mathematics Princeton: major in applied math and econ, certificate in finance Yale: major in economics and mathematics Any advice is welcome! (i.e. should I be considering other majors instead? which school would offer me the best academic and career opportunities?)
23 Apr 2014
Hey, I will be having an on-campus interview with GS for an internship in the Finance (Controllers) Division for this upcoming summer. I was wondering what I should expect from this first interview, with regards to questions: technical or behavioral? Also, could you share what specific types of questions I should prepare for with this interview coming up. P.S. This is my first legitimate interview as well, so I'm pretty nervous, so any suggestions will help!
30 Nov 2014
Hi guys. I am new to this site. I want some advice on my school applications for MSF program and career transition from accounting to finance. Background: - GPA 3.5, Major in Accounting, graduated from one of the Big 10 schools - GMAT 690 - 1 Fortune 500 Internship - 3 years working experience in corporate accounting in entertainment industry at west coast - passed CPA exams - International student/temporary worker I do not have any finance background nor public accounting experience. So I want to break in finance industry via MSF program. The schools that I am currently applying for are: Boston College, Villanova, Vanderbilt, Brandeis, Fordham
10 Nov 2014
First time posting. Was recently offered a job with modest salary as a data analyst in New York. (The work is particular to pharmaceutical/healthcare marketing w big data). This is my only job offer (graduating senior from top25 school), but I have another interview. Could doing a job like this for 1 year (2 at most) be of use if I am considering a future in Finance/Equity? My concern is that I will become stuck in a very specific field and it will look bad if I leave after only one year, but a job is better than none, right?? (Other options are summer business program (Tuck) and try to find
25 Mar 2014
Looking through Glassdoor, I noticed that PwC employees start off with a pretty bad package (50-65k) considering the hours they put in. But once they make manager and director they're pulling in consistently over 150k and upwards of 250k by the time they're director. Why does the pay increase so dramatically and is this doable by the time I'm 30-34? How To Become A PwC Partner There are certainly perks to being a partner at a large firm but what does it take to get there? Stay on the track for a long period of time. People work their tails off 15 years without any guarantee of ever making
20 Jun 2016
Hey all, I have been reading though a lot of discussions on here and finally am ready to ask for my own advice. So I know that I am in a bad situation but I am willing to make the best out of it.
01 Jun 2014
Hey Guys, Wanted to get your opinion on something. First, you have to understand my current position. Recently graduated from a non target state school. I earned a BS in Finance, with a 3.42. The GPA, isn't great, I get it. My situation is unique because I worked full-time the whole way through undergrad. From 2011-2013 I hustled a bunch of side jobs, and was even a garbage man for my local town for a little bit. In 2013, going into my junior year of undergrad, I started working in small business lending at a bulge bracket full time. I was able to craft my own work schedule around my classes
29 Feb 2016
The "stretch IRA" is not a type of IRA; it's a wealth-transfer strategy. If you don't anticipate needing all of your IRA assets to provide income in retirement, you may be able to stretch your IRA assets to benefit your spouse, children and grandchildren. The stretch strategy begins with your UBS IRA. It is important to work with your Financial Advisor to properly designate your beneficiaries and ensure they understand how the stretch IRA strategy works. The benefits of stretching your IRA – Throughout the life of the IRA, you and your beneficiaries will enjoy the benefits of tax-deferred growth on the assets.
10 Apr 2014
Greetings I am a freshman at UF on the pre med track. All my life I have had the desire to be a doctor, but after being at the University of Florida for nearly two terms, I have been exposed to many careers outside of medicine, but have found that they are still remotely related to a career in healthcare. This has sparked my interest in possibly majoring in finance or economics, a degree track that I never imagined being interested in. My reason for this interest is this: as much as I love the sciences, and as much as I the idea that being a doctor requires caring for people, healthcare is in
08 Apr 2015
Hello everyone, been reading a lot about the Big 4 on this site and i am quite unsure how to proceed in my career. I am an accounting and finance major at a school in Atlanta where the big 4 recruits heavily. (Currently a junior) My plan is to start off in accounting and then move to a finance job (IB) however I've found that the general consensus is that while the transition is possible it is pretty difficult, so I have a couple options. 1.Keep on the same path and work hard to eventually break into IB 2. Look for a finance internship at a boutique and disregard the Big 4 3. Drop my Accounting major all together and focus on Finance to find a better finance internship/job when I graduate.
15 Sep 2014
Hi All. This is my first post on WSO. I'm living in Charlotte right now, and trying to get on a serious/ambitious path in finance. I plan on working in CLT for the next couple years then moving back to NYC where I have some low-mid level contacts at some of the banks (GS, MS, JPM), 1 or 2 in IB, through my parents. I have a relatively weak background. I got into UNC out of state, where I had planned on majoring in Business, but had a lot of health problems, and a really weak GPA first semester, and ended up with a BA in Management and Society (that's one major) and a History minor. My GPA was a 2.4, and my major GPA was only around a 2.8 or so, neither of which are on my resume.
28 Feb 2015
I am currently in business school majoring in Finance, I am highly considering double majoring. Question is, which other major should I pick. As of now I am contemplating Finance and Economics or Finance and Accounting. I do not have a particular job in mind as of yet, but I am very interested in the aspects of Wall Street. I love the idea of becoming a broker. I completely understand that landing a job on Wall Street is no simple task, and is continuing to become more and more rigorous. I just would like to know which of the two (FInance and Economics, or Finance and Accounting) would be more
08 Oct 2014
Quick About Me: 3.91/4.0 Finance, Top 50 Non-target SAT:2100+ P/E Internship this summer Will Graduate in 2015 (Currently Jr.) I was lucky enough to land an internship over the summer where I will be working extensively with the MD. Rather than cold calling all day, I will be doing a lot of valuation work, improving my technical skills, and hopefully networking. When school resumes, I will try to get a part time internship in Autumn or Winter quarter. Assuming I prepare well for interviews, and come across well (haha), what are my prospects for eventually landing a regional boutique/MM IB FT
11 May 2014
Are there a lot of girls on Wall Street? Do they have a better chance of being recruited because of the whole "minority" issue? Do the usually move up the ladder quicker than guys at the banks? Which banks do you feel generally favor women rather than men? What are the women like on Wall Street- rude and arrogant or nice and friendly? Doing some research on this topic, so just wanted to see opinions from this forum.
08 Jul 2014
Can someone please give me an intuitive definition of IRR? I know that it's the discount rate used to find the break-even point on a project, or the discount rate used to get an NPV of 0. However, what I'm having a hard time grasping is why you choose the project with the higher IRR? If it's the rate required to break-even, wouldn't you want it to be as low as possible, so that profitability would be easier? Thanks in advance.
07 Nov 2012
Basically, I have to pick between these schools for undergrad. I'd like to major in finance. From a purely objective standpoint (i.e. not accounting for my personal preference), which one of these schools would give me the best head start for my career? Prestige means very little to me. I just want the best education and the best opportunities.
16 Jan 2015
Hi Everyone, I have just received a full time offer for an analyst position following graduation in May. Do you think they will request academic transcripts? They have not requested them thus far into the application. Only reason I ask is because I have 2 F's on my transcript. Also I realized after I sent my resume in that I have listed my MAJOR GPA not my overall. I have not listed the gpa on my resume as my Major. What do you guys think? Will they ask for my transcript? Thank you!
08 Mar 2014
Why do adjustments for changes in working capital items on the cash flow statement always differ slightly from the actual changes you calculate when comparing 2 balance sheets? I've always used the figures calculated from balance sheets for when calculating FCF, but never really understood why that method was preferred and considered more appropriate than using the adjustments provided on the cash flow statement.
30 Jan 2015
Hello! I'm having a hard time deciding which path to take going forward. A little background info on me: - 23 years old - Have a Bsc (Hons) in Accounting & Finance from a mid table university in the UK - Moved to Canada after graduation (duel citizen) and have worked as an accountant for a small business for two years (realised accounting is not what I want to do so I haven't been working towards a professional accounting designation) - I have exceptional inter-personal skills - Key interests lie with financial markets / investments / real estate Given that I do not want to pursue a career in
22 Apr 2016
Hi guys, I would really appreciate your inputs given my situation that I am about to cover: Background: I am about to graduate from a non-target/semi-target Uni in the UK (top 10) and am a non UK native. I am starting my Masters course in September and want to decide which internship would lead to me being better positioned for the next recruiting season or landing a job after the internship. My target industry was initially IBD with an interest to potentially end up in VC or PE, but I am constantly adapting my expectations to the clearly rough market conditions. Have previous low profile internship experience outside the UK (think big four, really small VC, PE shops).
09 May 2014
To my beloved WSO community, When I was deciding between colleges, this forum was very beneficial to me in deciding where would be the best to pursue my career interests. Three years later, I'm in the midst of planning my future career and deciding between my career options.
02 Mar 2014
Hello everyone, I am a new user here and I have some important questions, but first my introduction and background. I am a recent graduate from UNC-Chapel Hill where I majored in Peace, War, and Defense with a minor in history. Originally my plan was to find work in intelligence/government. However, realizing the difficulty in finding work for recent undergrads with a liberal arts major, I decided to strengthen my resume by obtaining a versatile master's degree in finance or accounting for the purpose of applying it to government, or branching out and working in the finance industry (I'm
10 Apr 2015
Hey everyone, I am fairly new to this site and I am still reading over a few discussions on the forum that are relevant to me. Since this site seems to be filled with professionals and experts as well as those that have gone through hell and back I thought that this would be great for me. I would like to hear some feedback - positive/constructive- from you guys and any possible opportunities that you might see for me that I might not be aware of. I know this might be kind of long so I would understand if you decide to skip this one.
04 Sep 2014
First of all, I did not go to a target school. My undergraduate degree is in Accounting from a local well recognized public university. I graduated in 2012 and at the time did not want to pursue a career in Public Accounting (which I sometimes regret). But me graduating Summa Cum Laude, being in the honors college, leading the accounting club and doing 3 solid internships helped me to land a decent position within Wholesale Banking of a top 5 commercial bank in the county, in a fairly large city in the midwest.
19 Apr 2014
I'm new to this, so I'd be grateful for some perspective. I went to a national career fair to land an internship/full-time position in Audit. I talked to reps from each of the Big 4 Accounting Firms. Big4 #1 wasn't interested. Big4 #2 seemed not to be, but I networked my way to a social event in my home city (coming up soon). Big 4 #3 promised me an interview that afternoon, but I never got a call. So I went back, and they said they got booked up and would contact me. I talked to a swell guy from #4 for about thirty minutes. The tail end of our conversation sounded like an interview (hard
23 Aug 2015
I've looked up the job potential of my finance degree both on WSO and on google, but all the sites I have visited seem to imply the best I can do is either: 1) be a financial analyst 2) become a banker 3) become a consultant Is this really all there is? Just banking and consulting? Are there any job routes one can take with a finance degree from a target school besides these 2?
09 Jan 2015
Hey guys I'm a senior in high school and have the option to go to SDSU or UCSC. Both of these schools aren't ranked very high at all and I realize that in the finance industry that is very important in terms of connections, etc. I seem to really like the undergraduate business program at SDSU but I'm afraid of the the comments on the university saying that it has "close to zero opportunities". I am planning on majoring in Finance with a minor in Economics, and am still unsure of specific industry I want to dive into. My interests range from Equity Research, Management Consulting, to IB and AM.
18 Mar 2014
I'm having a final round of interviews with a company's consultant tomorrow (Saturday) and I know no one here knows anything for certain but I have a few questions and I'd like to hear some tips on interviewing with a consultant. 1. I find it strange she wants to interview on a Saturday (phone) so I'm optimistic its only a final stamp and I'm really confident I got the job. 2. Its an firm with 50-60 employees and this is a new role, what kind of salary would you ask for (Cleveland, OH) 3. What are exit opps for a role like this? I mean into other companies?
25 Sep 2015
Was wondering if any of you have gone through the interview process or know anything about the internship? It is an accounting/finance roll but I do not know many details yet. Got offered a second round interview today. Was curious about the type of work and compensation. Thanks guys!
20 Nov 2012
Hi, I am looking for fixed income study materials similar to Aswath Damodaran's corporate finance or Valuation. I would really appreciate your feedback. Ultimately I just want to try fixed income research/trading. Thanks
10 Feb 2015
Hi everyone, I just signed up as recently I've been leaning away from a career in accounting. I'm a second year undergraduate student that was always interested in getting my CPA/CA, but now I don't feel that way anymore. My goal right now is to secure the best possible position for this coming summer that'll propel me forward in landing an IB internship after my junior year. Any advice/pointers for someone just starting off? -A
25 Dec 2014
Pretty much, I am a sophomore, should I take an internship with a prestigious company for a Finance/Accounting position, or should I wait and possibly try for positions in IBD. I am more interested in IBD and the offers that it can present me, but I would be taking a risk as I have not heard back from those firms (I applied later on) yet. I also think that I would like a career in IBD over Finance/Accounting as well. Thanks
06 Dec 2014
Hi fellow chimps, I would really appreciate if you could point me towards a couple of good advanced accounting books. Thanks in advance, WiseCapitalist
18 Apr 2014
Hi everyone! I was wondering if anyone here has some good suggestions for a solid intro finance book that explains all the basic stuff like derivatives/securities and all the jargon so that one has the foundation to really understand financial news and tackle more sophisticated finance material/books.
14 Jul 2014
This question may be blatantly obvious and simple to some people. However, I'm curious to know what the difference between LIFO (w/ LIFO reserve essentially standardizing it to FIFO) and FIFO would be? Given the use of LIFO reserves, why would firms still choose to use LIFO? It seems to me like they would be the same... Any comments would be appreciated..thanks in advance!
25 Mar 2016
Here is my resume for accounting or finance internships( idc which types.. just any lol) Please critique my resume. thanks!
31 Dec 2012
I am a Sophomore with no prior finance experience but I have managed to obtain an Interview at a boutique bank next week. I have to state which team I am interested in joining, but I have no idea which one to say. The options are Client Accounting, Marketing(client relations) Data Management and Client Transitions. My aim this summer is to obtain relevant experience in order to secure a internship at a BB next year. Which team do you think would help me the most with applying to a BB Investment Banking internship next year? I appreciate any feedback, thanks in advance!
06 Apr 2015
I'm 22 years old, and a fresh university graduate with a degree in Business and specialization in Banking and Finance. I graduated with a upper second-class honours (the US equivalent of GPA 3.3). I was offered a job in the Finance department of an insurance company, with the usual job responsibilities of reporting, forecasting and budgeting. I really want to pursue a career in Asset Management, but it has been difficult to secure even a job interview. Should I take on the job in the Finance department first, gain a bit of work experience and pursue CFA qualifications at the same time, and then re-apply for a job in the asset management industry after 1-2 years? Or should I still persist in my job-search for an analyst position at an asset management firm?
20 Jul 2014
How do I let said top choice know about my situation via email? Do I contact HR, or a member of the team I want to work for? Thanks for the help.
04 Nov 2013