Further qualifications - IMC??

Hiya

I don't know if you really need to do anything - a lot of firms would be happy with the accountancy background. However, if you wanted to FSA is one to look at - sales, trading, research etc all have to do this before getting going on a desk. I know people working in risk and ops who haven't done either FSA or IMC though so if may be worth looking into the job you want before starting. I am studying for my IMC at present and there's quite a lot of content (it's more for if you're hoping to go into asset management related work - not sure if this is your plan?!). Good luck and I am sure you'll be fine. Lots of jobs on efinancial say accountancy apps accepted etc.

That's great, thanks. Seeing as you're studying it, is it something you can do self study, or is attending a course helpful? Sometimes they just rattle through the material on courses and I prefer going at my own pace, plus the obvious cost and holiday time saving.

Also, what is the FSA qualification?

The FSA qualification is basically a regulatory qualification which makes sure you understand the legal and ethical principles behind the markets- including things like insider trading and money laundering. It's a requirement for anybody who is going to be working with serious cash to have. Banks will typically sponsor students through this- it isn't something you have to do on your own.

Have you got an accountancy qualification? Something like the ACA will be enough to get you in. Furthermore, you should certainly apply before doing any extra qualification and even before resigning- they might well take you based on your background already (even if it's in a finance role).

One thing though, the general outlook for IB recruitment this year isn't great, so odds are sadly not in your favour for getting in, qualified or otherwise.

I didn't realise that getting approved status was called the FSA qualification, perhaps I'm even exempt from a few bits, after all the joyful money laundering and ethics exams I've done. I've got my ACA and CTA ("there's only two certainties in life... death and taxes") which means all the headhunters are doing the rounds promising how much greener the grass is in [X field they are paid to plug]. I want to see what life is like outside my current role before I'm too old/expensive to move. There's loads of redundancies in anything transaction/sales related at my firm already, so I'm not totally naiive. But if you don't try, you'll never know, and I'm not waiting 5 years to try something different out of caution. Thanks for the tips.

I think you should just give it a go. There's probably not much benefit in getting any more qualifications, particularly if you've already got ACA and CTA already.

Just one thing though. If you do go to an investment bank, it probably makes the most sense to not end up doing a finance or tax related role, otherwise you'll just be doing mundane finance related work.

There's no harm or real risk in what you're doing. ACA CTA will always be massively in demand and well paid- you'll never have a problem getting a job or putting food on the table. You're in a fortunate position to try going after your dream job and seeing what happens, with little chance of fallout!

Remember though, if you are looking at getting into investment banking, don't expect any bonuses (or even much luck getting in) until after the market improves. Which could be some time yet.