Planning my future post big 4 (accounting) - Advice needed

bbraganz wrote: ↑i know a manager who left my firm to go into i-banking. i believe he had done levels 1 and 2 of the CFA as well, so if thats your goal, the CFA is definitely a step in the right direction.

However the guy also had 6-7 months of management experience, as opposed to exiting the firm when he was a senior. there are significantly higher levels of opportunity (ie Director, VP, Senior Manager) in industry if you leave a firm after having some management experience, as opposed to leaving when you dont. But this is my personal opinion, and if you can't stand audit any longer, then by all means. Its not for everybody

deranged wrote: ↑Hi everyone,
Here is my situation:

I am currently a coop student at a Toronto big 4 office in audit - specifically, in financial services (funds, banks, pensions, insurance, etc). I will be hired as a full time in September 2013 as an experienced hire. I will then need to work for another 10 months before the promotion to Senior in 2014. In 2015, I will have accumulated all my CA hours and hopefully would have passed all the tests to receive my CA.

At that time I would like to potentially go into investment banking as I've seen many seniors do throughout my time at this firm (Credit Suisse, Big 5, boutique, etc). I feel like it's a little taboo to ask these people exiting the firm how they do this, and thought RFD might be a better forum since people are able to express themselves anonymously and without reservations.

(1) I would like to know what I can do within the next 3 years to put myself in the best position to have the choice to go into ibanking. I am currently planning to take the CFA level one this December, and level two after I pass the UFE in 2014. Should I take additional courses such as econometrics to boost my resume?
(2) How do I apply? Should I approach ibanking campus recruiters while still in school, so should I wait until I receive the CA?
(3) Should I go through headhunters? If so, should I start making connections right now?
(4) What type of people are they looking for? Which qualities should I improve on in order to rock the interviews?

Any advice would be greatly helpful. I am simply looking for information so that I can plan my life and make an informed decision when the time comes.

tylaw83 wrote: ↑This is rarely EVER true and is something spread around by senior managers and partners to entice high performers to stay.

If you follow the career path of similarly bright and hard-working individuals, you'll find that their career development in big 4 and industry will be the same. The one working in industry, however, will work less hours and receive higher pay. The exception is for those aiming for partner...which much easier to get to than an executive position that offers similar pay in industry.

This is me speaking from the other side where myself and many others do no hold big 4 "management experience" in high regard.

deranged wrote: ↑Hi everyone,
Here is my situation:

I am currently a coop student at a Toronto big 4 office in audit - specifically, in financial services (funds, banks, pensions, insurance, etc). I will be hired as a full time in September 2013 as an experienced hire. I will then need to work for another 10 months before the promotion to Senior in 2014. In 2015, I will have accumulated all my CA hours and hopefully would have passed all the tests to receive my CA.

At that time I would like to potentially go into investment banking as I've seen many seniors do throughout my time at this firm (Credit Suisse, Big 5, boutique, etc). I feel like it's a little taboo to ask these people exiting the firm how they do this, and thought RFD might be a better forum since people are able to express themselves anonymously and without reservations.

(1) I would like to know what I can do within the next 3 years to put myself in the best position to have the choice to go into ibanking. I am currently planning to take the CFA level one this December, and level two after I pass the UFE in 2014. Should I take additional courses such as econometrics to boost my resume?
(2) How do I apply? Should I approach ibanking campus recruiters while still in school, so should I wait until I receive the CA?
(3) Should I go through headhunters? If so, should I start making connections right now?
(4) What type of people are they looking for? Which qualities should I improve on in order to rock the interviews?

Any advice would be greatly helpful. I am simply looking for information so that I can plan my life and make an informed decision when the time comes.

deranged wrote: ↑Hi everyone,
Here is my situation:

I am currently a coop student at a Toronto big 4 office in audit - specifically, in financial services (funds, banks, pensions, insurance, etc). I will be hired as a full time in September 2013 as an experienced hire. I will then need to work for another 10 months before the promotion to Senior in 2014. In 2015, I will have accumulated all my CA hours and hopefully would have passed all the tests to receive my CA.

At that time I would like to potentially go into investment banking as I've seen many seniors do throughout my time at this firm (Credit Suisse, Big 5, boutique, etc). I feel like it's a little taboo to ask these people exiting the firm how they do this, and thought RFD might be a better forum since people are able to express themselves anonymously and without reservations.

(1) I would like to know what I can do within the next 3 years to put myself in the best position to have the choice to go into ibanking. I am currently planning to take the CFA level one this December, and level two after I pass the UFE in 2014. Should I take additional courses such as econometrics to boost my resume?
(2) How do I apply? Should I approach ibanking campus recruiters while still in school, so should I wait until I receive the CA?
(3) Should I go through headhunters? If so, should I start making connections right now?
(4) What type of people are they looking for? Which qualities should I improve on in order to rock the interviews?

Any advice would be greatly helpful. I am simply looking for information so that I can plan my life and make an informed decision when the time comes.

bbraganz wrote: ↑You get a promotion (position or salary raise) every year that you are at a big 4. The structure works so that you either move up, or move out. The only positions at big 4 firms which are somewhat pidgeon-holed are senior managers.

And from the clients that I have dealt with and the individuals that have their CA that work in industry now, management experience at a Big 4 does play a huge difference. I don't know where you're getting your information from. What industry are you in? Are you involved with hiring?

Any sort of management experience is looked upon as a significant plus, be it big 4 or or otherwise.

tylaw83 wrote: ↑You get a promotion every year...

nx6288 wrote: ↑to the OP, why don't just just apply straight to investment banking during your 4th year?

I know a few people who got into investment banks after having done co-ops at big 4s during university and was set on becoming a CA until their final year

ChampUz wrote: ↑Curious, where did you do your undergrad?

deranged wrote: ↑ I thought about this, but it is very difficult to get into iB with an accounting background. I would need at least the first level of the CFA passed to have the base knowledge to do the work. Also, I'd like to have a CA to fall back on. I've already put in all this hard work; I don't want to throw it away without getting those letters.