Quantitative Analyst looking to get into Accountancy

Chazz Michael Michaels

I was a quantitative analyst, working in financial services until I was laid off last year. Roles in my field are lesser in number than before the recession, or I see similar roles that require some qualification in accounting or IT.

So, I am here to ask questions about accountancy. It is my vague understanding that there are various types of qualifications and streams to follow, and that, similar to Law, exams may be taken without an Accounting degree. Am I correct so far?

Chazz Michael Michaels

Chazz Michael Michaels wrote: »

I was a quantitative analyst, working in financial services until I was laid off last year. Roles in my field are lesser in number than before the recession, or I see similar roles that require some qualification in accounting or IT.

So, I am here to ask questions about accountancy. It is my vague understanding that there are various types of qualifications and streams to follow, and that, similar to Law, exams may be taken without an Accounting degree. Am I correct so far?

no need for accounting degree.

ACA

ACCA

CIMA

are the main qualifications but there are others also. CIMA does not qualify you for auditing of accounts, but if you don't wish to work in auditing, (I wouldn't), then it's a good option. go to the websites of these bodies and you will get info on how the exam structure and exemptions work. ACA was normally done only through practice (training through KPMG, PWC etc.) but there is now a route in without that. So again, go to the websites and there you will find the info....

Chazz Michael Michaels

Great, I'll read into those sites.

Chazz Michael Michaels

Is there any sense of the market being saturated with fresh graduates of these exams?

there are always jobs for accountants - just depends on what area you want to get into. more interesting sides are corporate finance, financial analysis, financial modelling. Auditing / financial controller is pretty boring stuff imo but each to his/her own. If you have a quant background do you not have a background in financial modelling? Or stats? Plenty of jobs turning up in stats and big data / data analytics type areas and if you have a background like that I don't see the point of putting yourself through all the accountancy exams...

Chazz Michael Michaels

glasso wrote: »

there are always jobs for accountants - just depends on what area you want to get into. more interesting sides are corporate finance, financial analysis, financial modelling. Auditing / financial controller is pretty boring stuff imo but each to his/her own. If you have a quant background do you not have a background in financial modelling? Or stats? Plenty of jobs turning up in stats and big data / data analytics type areas and if you have a background like that I don't see the point of putting yourself through all the accountancy exams...

Yes, my background is maths and stats, and I do see and apply for these jobs, but my experience extends to a mere two years, and competition is fierce. I'm assessing my options currently.

ok well good luck with it. but many jobs are at analyst / junior level, not requiring that much experience so you just need to "leverage" your experience thus far and tailor your cv to the job requirements. maths and stats is a good background in the current market - better than most - stick with it....

Chazz Michael Michaels

glasso wrote: »

ok well good luck with it. but many jobs are at analyst / junior level, not requiring that much experience so you just need to "leverage" your experience thus far and tailor your cv to the job requirements. maths and stats is a good background in the current market - better than most - stick with it....

Thanks, I hope to stay in analytics. I just need a few Plan B's.

another options is IT - suits your background and can be commercial enough, not just programming. FX for example.

Chazz Michael Michaels

glasso wrote: »

another options is IT - suits your background and can be commercial enough, not just programming. FX for example.

Yeah, i have been looking into that. Thanks.