Dan wrote:
Is an accountancy background/qualification essential for working in Corporate Finance?
I am currently working for a boutique specialising in lead advisory/broking for sale mandates. Whilst I very much enjoy the work, I would ideally like to gain employment within the corporate finance team of a top 10 accountancy firm or specialist boutique. I believe that this would provide me with the opportunity to develop my career and also to be able to access larger and more complex transactions.
Although I now have 2 years of experience handling deals from inception to completion (typically £0.5 - £5m in value), I am not an accountant by training. Prior to my current role, I was an IFA and worked in financial services for 8 years (including qualifying to AFPC level).
Do you think this will be possible and if so, at what level do you think I could enter?
Many thanks,
Dan W.
A manager of the corporate finance team replied:
Dan,
I hope you are well. Many thanks for your inquiry.
In answer to your question, an accountancy qualification is not essential to working within corporate finance, although being an accountancy recruiter, the majority of our clients do come to us purely because we focus on these type of candidates.
Many banks hire graduates to be analysts who then work their way through the banking structure, meaning that the majority of senior bankers in the City at present will have no more than maybe a straight-forward degree. Many US banks also like to hire MBA graduates with some work experience from another industry.
In short, an ACA or equivalent is not essential but it can help. As mentioned, many of our banking and advisory clients like to hire newly qualified candidates who have had three years of solid training and then will put them through their own training schemes.
In terms of me giving an opinion on whether your experience would suit our clients and at what level, I would have to see your CV. Please feel free to forward it to me at jobdoctor@markssattin.co.uk
All the best
About the WH Marks Sattin Job Doctor
WH Marks Sattin is a specialist recruitment agency dealing with accountancy, finance, tax and consultancy professionals. This is our Job Doctor forum/blog.
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2 comments:
Thank you for your reply, which is helpful. I have forwarded you my CV so they you may provide more specific advice - as you will see, I am not a graduate but have a number of years of professional experience - which I hope will hold weight. I look forward to hearing from you, Dan W.
"US to UK"
I am a U.S. citizen, qualified CPA, Masters in Accounting with Big 4 and Banking experience. Is it easy to make a switch to the U.K? Are companies willing to take on expats both legally (visas) and financially (relocation costs)? Or is this a tough sell in the current market?
Thanks
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