How do I make myself appealing for Investment Banking roles?

Dear Job Doctor,

I am a newly qualified CA and CTA frmo a Big4 firm. I have been based in a tax function for a little under 4yrs but am now looking to move into an IB. The roles I have been shown so far are predominantly PC and BA roles. My question is this: is it possible for someone with my qualifications and experience to get into trading/sales within an IB? If not, how would I go about making myself more appealing for such roles?

Many thanks.


Elan Diamond, a Manager from WH Marks Sattin replied:

Is it possible? Yes. However, you may find it a considerably harder to secure a position as this is incredibly popular and competitive area to get into. You will find that the main concern of many employers' is your commitment to this field. They will see that you have spent 3 years obtaining an accounting qualification , and question why you didn't join a training scheme with a bank within sales and trading when you first graduated. You will also need to think about your current salary expectations, as you will probably need to take a cut in salary to compete with the graduates all vying for similar sales and trading roles.

If you do have any additional questions,or would just like an informal chat please give me a call on 020 7321 5000

The value of a professional qualification (ACCA/CIMA) combined with experience

Dear Job Doctor,

I am 42 and and I have been working for an oil producing company in Middle East for the last 18 years. I started at clerical level and presently work as Senior Accounts Officer. I have reached the glass ceiling and further career progress in this company is not possible due to political/demographic reasons. I completed an MBA (Finance) program last year. I want to attain higher positions and responsibilities. Is my education and experience sufficient to get me to managerial level positions in oil industry? Should i try to attain other professional qualification like ACCA? Would it add enough value to my career prospects at this stage?

Thanks



A consultant in WH Marks Sattin's Commerce & Industry team replied:

A professional qualification (ACCA/CIMA) would add value to your CV - especially if you're looking for UK opportunities. 18 years experience within the oil industry is invaluable - so naturally your knowledge will be very attractive to this industry. With the market still so competitive, a professional accountancy qualification will undoubtedly make you more marketable as a candidate. This combined with your industry knowledge will definitely make your CV stronger.

All the best,
WH Marks Sattin

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At which level would a newly qualified ACA slot in within investment banking?

Anonymous wrote

Dear Job Doctor,

You mentioned in an earlier blog that the best time to move across to banking as a newly qualified ACA is pretty much directly upon qualification. At which level would a newly qualified ACA slot in within investment banking? As an analyst or an associate?

Thanks for all your help.


A senior consultant in WH Marks Sattin's Financial Services team replied

The level a newly qualified ACA comes into an investment banking team at can vary somewhat between banks, whilst the perceived strength of the candidate can also be taken into account. Generally most will come in at either a senior analyst or first year associate level. Some banks prefer to offer an analyst position with promotion to associate after 12 months to allow time to 'bed in' to their new surroundings in investment banking, others prefer to bring the ACAs on at an associate level with a 'sink or swim' mentality to push them to excel in their first year. Either way, it's a big change from accountancy so the best advice is to only move to a bank where you think there is a good chance you will excel in your first 12 months.

All the best

WH Marks Sattin


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Best time to move from accounancy practice to banking/private equity

Anonymous wrote

When is the best time to make the career move from accountancy practice to banking/private equity?

Is it immediately after qualifying or after promotion to manager?

Many thanks


A consultant in WH Marks Sattin's Private Equity team replied

I would suggest immediately after qualifying, as more companies look for a newly qualified accountant who they can mould themselves, rather than an experienced manager. If you are set on a career move into banking or private equity you need to be ready to move as soon as you qualify if you want to pick up the best roles.

All the best

WH Marks Sattin


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Pursuing a career in practice with a CIMA qualification

Anonymous wrote

Hi,

I am a newly qualified CIMA member and have gained 5 years pre qualified experience working in the Pharmaceutical industry. I would really like to pursue a career in practice with a long term view to run my own practice.

How likely am i to be able to get a job working in an accountancy firm if i am CIMA qualified and not ACA or ACCA qualified?

Thank you


A consultant in WH Marks Sattin's Practice Division replied

Thank you for your enquiry.

The market is very competitive at the moment and it is client driven. Clients are looking for perfect matches for their roles and for candidates with strong transferable skills or who have worked in similar environments. It is difficult for candidates to get roles in practice if they have worked in industry for 2 years or more. I think you will find it difficult but it is definitely worth a try.

If you want advice on how best to put together your CV please give me a call on 0207 747 9754.

Regards

Ewa
WH Marks Sattin


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