Big 4 Accounting or Masters in Finance (Smurfit)

golfer064

Hi all,

Im trying to make up my mind between Big 4 accounting or a masters in finance in smurfit. Ultimately i would like to end up a stockbroker or a financial analyst and I am wondering whether accounting or a masters in finance would be more beneficial?

I might take the CFA's in a few years also and am thinking the accounting might help me in this regard as it is 3.5 years experience and a qualification opposed the masters with no guarantee of a job.

Any advice/opinions would be greatly appreciated.

Thanks in advance

Jim2007

Well these are to different professions, it's a bit like saying you're going to join the Guards because you'd like to become a barrister!

And as for job security, there is no guarantee that you'll be offered a permanent position after you finish your training contract as an accountant either. Plus it is a terrible criteria to base your live on.

You have got one life to live and if you want to be a stockbroker then go follow your dreams. With a masters in finance it is unlikely you'll end up sleeping on the streets, now is it?

Kiltennel

Masters in Finance. ACA has next to no relevance to being a stock broker.

SBWife

Unless you can get into the Corporate Finance route of the Big Four you're probably better off going into the Masters.

golfer064

Thank you all for the responses.

I would be in the audit division specialising in asset management. would this not have significance in entering the finance route once qualified?

Many thanks

Morte

Stockbrokers buy and sell shares. Accountants keep the record of which shares the stockbrokers buy and sell. That's my understanding but I don't work in financial services. The guard/barrister analogy is an excellent one. If you want to change careers in five years time it's a bit more advantage than being a chef or marine biologist for the five years as the careers do have some links. But you would definitely be changing career and starting from the bottom again.

From what I hear it's harder to make it as a stock broker in Ireland than as an accountant. But to me that's only a further reason to go for the stockbroker route now if that's what you want. You'll still be an attractive candidate for any accountancy firm for the next few years. If stockbroking doesn't work out you can switch and work your way up.

smcgiff

After the finance masters what's the plan to become a stock broker? Are you planning on staying in Ireland?

Sure you've not got too excited watching WoWS?

Good luck though.

SBWife

I've worked with equity analysts that started in Big 4 audit but always in corporates not asset management. Asset management audit might help with a back office mid office role at a stockbrokers here and the firms are small so people do move, it wouldn't be impossible to go from processing trades to placing them. Private client roles are very sales oriented and you're best off coming from a reasonably well connected background (here's where the private rugby playing school stereotype comes into play) if you don't have this Smurfit can help.

What stockbroking role would you be targeting?

golfer064

It is a great movie in fairness. But no I would be open to a move to locations better known for stockbroking like london/new york etc.

golfer064

I would be looking at buy side/advisory. Im just thinking is this because i have a personal interest in stockbroking or is it actually a viable career? I just wonder if the accounting would be a better option to build up a solid network and begin earning, also the possibility of working in offices abroad attracts my attention and this is something they can offer.

smcgiff

golfer064 wrote: »

is it actually a viable career?

More so in London and NY as you say.

But that's why I asked if you have a plan after the masters. There's a well trodden and fairly universal (relatively) entry into accounting.

In the US there's a set of exams and probably internship.

However, a bit like after Top Gun when everyone wanted to be a Navy Pilot I'd say there's a fair few people trying out stock broking since Leo's movie.

SBWife

In the US you take the Series 7 and probably start out in a support role it used to be that you'd cold call for six months and the firm would sponsor you for the test. The exam is a very easy one, I had to take it when I moved to the sell side and it was one of those read the manual and do a couple of practice tests jobs (granted I was a CFA Level 3 candidate at the time so it's not like the info was new).

There's a registered rep exam given by the ISE that's very similar here, and the QFA if it's actually wealth management you are interested in.