Big 4- Banking and Capital Markets- Exit Opportunities

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  • #184392
    john12
    Member

    I have recently rec’d an offer from a Big4 firm in NYC in their Banking and Capital Markets Group. I was wondering if someone could provide me with some insight of exit opportunities at the Senior Associate level. Does one usually work for one of the big banks after leaving? Position and Salary after leaving big4?

    Thank you for your input.

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Viewing 9 replies - 1 through 9 (of 9 total)
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  • #625111
    Anonymous
    Inactive

    Do you really think the Big 4 is for you if you have not started yet and are wondering about exit opps? A little soon dont you think?

    #625112
    john12
    Member

    Not at all, i already have public experience at a large midsize.. just on the commercial sec side (i'm looking for exposure to banking or hedge funds) I believe you should always have a long term plan/goals in mind. How can this next job provide me with the experience/ career path i want for the long term.

    lets be serious 99% of the ppl that go to B4 go to just start their career in some sort of direction.

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    #625113
    PurpleK
    Participant

    I can't speak for large banks, but my background is in hedge funds. I left one of the Big 4 after 2 years of being a senior (total 3.5 years in public) and now work at a mid-size hedge fund.

    I'm assuming you got an offer at PwC? I don't think any of the other Big 4 call their financial services department by that name.

    The majority of my former co-workers that left after becoming senior became fund accountants (a few assistant controllers) at hedge funds. Average base is 70 – 100k with an annual bonus anywhere from 25 – 75% + all benefits paid for. From my experience, this range is fairly standard for mid to large hedge funds.

    In terms of getting your foot in the door at one of these hedge funds, the most important thing is networking. Portfolio managers and CFO/CCOs are more likely to hire someone they know or have worked with rather than someone they don't know with a better resume.

    #625114
    john12
    Member

    ey – has a banking and capital market group

    pwc – “

    kpmg – “

    dt- has a banking and securities group

    i was originally trying to be discrete which is why i put this.

    @PurpleK

    Thank you for your input. It was extremely helpful- that was exactly the information i was looking for. it seems like a lot of hedge funds want product knowledge- as opposed to any FS knowledge; have you found this to be correct? im only wondering if i will be exposed to any on the banking side. it would be great if i could find something in the middle so i could which i like better. im also wondering how those figures compare to those of exit opportunities in banking.

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    #625115
    Anonymous
    Inactive

    PwC's hedge fund/fund of fund/PE clients do not fall under BCM, they fall under the Asset Management group.

    I can't help much in terms of exit op's, but am interested to hear what everyone else has to say.

    #625116
    john12
    Member

    im also wondering how long you have to wait/how difficult it is to transfer between groups if you'd like to try something else. banking > hedge fund or banking > corp finance

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    #625117
    nosleep135
    Member

    Bump

    Just curious of when the “busy season” is for Banking and Capital Markets. Thank you in advance!!

    #625118
    soyanks
    Member

    When you are at Big 4, you will specialize in specific type of clients for Financial Services (i.e. – big banks, hedge funds, private equities, broker dealers, insurance companies, REIT, etc etc). If you are looking to try hedge fund, and then broker dealers, and then private equities, then try mid size firms or smaller firms (although none of those firms are likely to have big investment banks as clients).

    For exit opportunities, everyone uses recruiters to find exit ops (at least in NYC, they do). Recruiters will test your technical knowledge before they send you to interviews.

    Also, there's a difference between working at a hedge fund and working at a fund admin. Most hedge funds use fund admins (think Citco, BNY Mellon, Citi, SS&C, etc) to do actual bookkeeping and other backoffice accounting stuff. If you get hired directly to a hedge fund or other FS, you might be doing other type of work (regulatory compliance, internal accounting support, analysis, etc). “Busy season” depends on if you work at fund admin or actual FS. Fund admins are busy at month end as you have to close books for your client. But your busy season is usually when your client's fiscal year ends because you have to prepare audit packages, provide schedules to the client's auditors until the financials are issued. Summer, I hear is the slow season. If you work at actual FS, you will definitely have month end close and crunch time during the audit and before the financials are issued. If your FS is public or subject to SEC reporting, then you will be busy whenever those reports are due.

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    #625119
    nosleep135
    Member

    @ soyanks – Thank you for a thorough response! I did not know that the division is subdivided even further.

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