Wondering how to get into investment banking from accounting? Within each one of the Big 4’s advisory services are Transaction Services or Transaction Advisory Services (called various things at different firms). Transferring to TS/TAS is not a cakewalk, however, but is simple example of ways to get into investment banking from accounting.

The audit partners who hired you made an investment in you and want to keep you so long as possible to get the most return (unless they opt to lay down you off). If you’re luckily enough to be in an working office where there’s a TS/TAS group, be sure to network with people in any way known levels. If the office has any type of happy hour, office party, ect make sure you get some face time with the people in the group. It would be a good idea also to email those who find themselves lower on the totem pole and begin talking asking them about the work they do, how they got into TAS, if they enjoy it ect.

Get them discussing themselves and try to setup a get together with drinks/dinner with some individuals in their group. Express your interest and take their recommendations to heart. There are specified people in each firm who are your “career trainer also.” If you’re thinking about the switch, this is the person who will best be able to make it happen. Be tactful in your conversations and don’t arrive on day 1 with the firm saying you want to transfer. You should wait about 6-8 a few months, after you’ve got some good engagement reviews to take it up.

Tell the individual that you would be more content and successful in your career if you made the transfer. Express that you’ve already been speaking with the TS group about what they are doing and think you would find the task enjoyable. Remember that there may be limited/no areas open up and it’s likely you have to wait around.

  1. 31 unit MF in Waxahachie – $2.5M – 7% Cap – Growing area
  2. Have enough money or good credit to make investments
  3. Massive amount of (renewable) Energy, Initiative, Commitment & Perseverance
  4. Total 100% reduction as predicted – I think this is actually the 3rd 100% property loan loss – amazing
  5. Inventory investment

Another option is to take a look at another firm’s TS group and see if you can enter that way. Within a 12 months could put a damper on your continue Take into account that switching jobs/firms, but if you’re seriously interested in engaging in bank it shall be worth it.

If within an interview someone asks why you made such a quick job change you can exhibit that you hated audit and needed something more difficult and analytic. I’m sure they’ll understand. As well as the advisory group, most big 4 have a totally separate group that is itself a Middle Market Investment Bank.

If you can enter this group you officially “managed to get” to banking because these groupings do a great deal of actual offers for the middle market area. They don’t usually win work for the best transactions but do a great deal of work for smaller companies. These groups are very small and look for ex bankers to fill their slots often.

Corporate Finance without some serious networking. Going directly from audit for an Investment Bank or investment company will be generally dependent on one’s own network success. Exhaust all possibilities, be very personable and get your face out there. Start immediately and don’t disregard those who you don’t think will help you. You never know who is linked to who really.

For tips about network see my post here. It’s targeted towards networking into Big 4 but the advice is still applicable. The most likely target will be the small boutique or middle market investment banks, however there are a few examples of people who went straight to a bulge bracket. Some would say that any bank is better than audit, but going to a no-name bank with few transactions or “deal flow” could actually come back to bite you.

Categories: Finance