Stay in audit or get a MSF
I am looking for advice on my situation. I am currently in the audit group of one of the Big 4 firms, and just finished up my first year. I am trying to decide if I should stick the route I am on or get an MSF.
I would basically be finishing up my 2nd year in audit around the time as I would start the MSF program from one of the popular schools that have been listed on this site continuously (Nova, UIUC, SMU, etc.).
I am interested in IB for the exit opportunities to HF or Corporate Development, as it sits now.
My main concern is that since I would be almost 2 years in, and that experience will not really translate to IB or my other interests - would I just be setting myself back a few years?
Thanks!
Any thoughts on internally transferring? You could do an MSF and I think it would open some doors, but I think you'd be able to laterall in the position you're in now.
I have talked with some of the senior managers of the TAS group about possibilities. Currently, it is in the works with the practice leader and I'll see in a few weeks if I am going to get put on some deals towards the end of the year, but as of now nothing is for sure.
Get the MSF if it's from a target school. Even if you get into TAS down the line (big if, as TAS doesn't usually like to take on audit people early on in their careers), transferring to IB will be hard, and transferring to IB at a bank which is good enough to open doors for you in the HF or corporate development space will be even harder. An MSF from a target school will probably be more effective than trying to slowly lateral your way over to a position which could get you an IB gig.
Thank you for your comments. I believe that it the route I am going to go. Would the schools listed above be good options for IB?
I can't say much about the schools listed, but regardless of the oddly optimistic comments in this thread about going from audit to IB, I would definitely go for an MSF. I worked in the Big 4 in audit myself, and IB is extremely difficult to get into from there. The typical exit opps from audit in your first 2-3 years will be controlling, accountant, and internal audit roles, with not much of a chance at getting into finance. Sure, once in a blue moon somebody makes it (usually to a boutique or MM bank), but they are the exception, not the rule.
You can get into IB from Big 4 Audit, Big 4 TAS, or MSF. All will require work and I don't think it's worth getting an MSF for an opportunity that is available to you now.
I would think you are actually better off waiting a few years, killing it at work while trying to get TAS work, then MBA as opposed to MSF. MSF recruiting is basically as strong as undergrad recruiting at that school (none of which you listed is all that good). While matriculate to an MSF two years into a decent career when a year or two later you could be ahead of that process and matriculating into a (likely bettwr) MBA that would likely open up many more doors for you.
@"CorpFinHopeful" Thanks. Yeah, I have read almost every thread there is on this site regards to Audit Big 4 to IB, and the odds seems to be stacked against the accountant. Interesting to see the optimism as well.
@"TNA" What do you say about @"AllDay_028" comments about the how recruiting from the MSF programs are? Also, would the MBA once you hit manager (5-6 years) be a better route than a MSF this coming summer and starting out as an analyst? I realize the MBA is probably the more common route.
I honestly do not see myself doing Audit for that long, and that is why I have looked into the MSF. The people I work with are great, but the travel to remote locations constantly is getting old pretty quick. I would always stick it out if that is the better route for my career though, but that is why I made this topic discussion to see what peoples opinions may be!
Thanks!
Does anyone else have advice about the MBA route vs MSF route in this particular situation?
I'm in the same situation, I just got into the UT MSF program with one year of audit under my belt, no CPA, and in pretty a small office. Would the UT MSF program be considered 'top tier' enough to justify quitting and going back to school?
UT us great. If your goal is banking or something not audit that program should help you achieve those goals.
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