CMAs and CAs merging into one body

[Attorney]

That's my point. thats all there is for that job - its fuckin dreadful, and most people regret it after 10-15yrs in the field
who the fuck is passionate about piling up historical numbers?? Life wasting carreer imo

Many Accountants use their title to lateral into other fields such as PE, IB or even Consulting...Not everyone stays for 10-15 years and when you have an MBA, a shit ton of doors can open.

I have a Law degree and i'll probably try to lateral into IB if i get the confirmation that i won't make Partner at my firm(Many Associates in my firm made it into Banking in the past).

 

[Dibbs]

Why would you want to lateral into IB ?

I'm in the field, and I have a lawyer friend who says he'll be making 100k+ as a first year associate at the law firm where he's been recruited ( think top 10 largest law firm ). Unless he's bullshitting, I don't see why you would want to lateral into IB (assuming it's for monetary reasons). 100k+ pre bonus is more than what you'll be making as an IB analyst.

 

[lorida]

That's my point. thats all there is for that job - its fuckin dreadful, and most people regret it after 10-15yrs in the field
who the fuck is passionate about piling up historical numbers?? Life wasting carreer imo

I hope you're not referring to the CA designation?

CGA and CMA, yea, number crunchers.

But CA's, after 10-15 years are just starting their careers. Advisory services, tax advising, audit planning...You're not posting journal entries and doing trial balances lol. Partners charge at $750 per hour. You think a corporation is going to have them do monkey work?

 

[Attorney]

Why would you want to lateral into IB ?

I'm in the field, and I have a lawyer friend who says he'll be making 100k+ as a first year associate at the law firm where he's been recruited ( think top 10 largest law firm ). Unless he's bullshitting, I don't see why you would want to lateral into IB (assuming it's for monetary reasons). 100k+ pre bonus is more than what you'll be making as an IB analyst.

Because Lawyers who lateral into IB do not start as Analysts, but as Associates.
+If i happen to lateral later on, i'd use my firm alumni contacts to go for Toronto, London or Dubai, not MTL.

Those Law Firms who pay 100k to first year Associates are sweat shops(Stikeman or McCarthy Tetrault are a prime example), the only difference with IB in salary is that these firms have solid base salaries but lower bonuses, while in IB it's the opposite.