Audit --> FI

CFA General
#1

I have a friend who works in audit right now for a state government. He has a masters in accounting, and does a lot of work looking over the financial statements of government entities. Im curious as to what he could do with moving into fixed income, especially in the muni market? Any thoughts on progression and salaries for someone with his experience?

#2

Could you please define “moving into fixed income” ? You mean buying bonds for a fund ? or investment banking i.e. Debt capital market ? or Trading ? or… I am not sure what you mean.

#3

I would be talkin more along the lines of FI analysis. He’s planning on getting his CPA and i figured that a CFA would be a good compliment to that especially since he has experience with looking into financial statements.

#4

I did state auditing out of college. Tell him to get a year’s experience and leverage that to the extent possible and get out. Auditors at most compile those statements and the analysis of them is minimal at best. They do a lot of testing on a micro level to give an opinion on the fairness of the financials and not its overall credit strength.

#5

short answer no, your “friend” is doing government accounting work, dont get it twisted

#6

He could get a job at an S&P or Moody’s as a muni credit analyst and then make the move to a muni desk

#7

You’ve provided insufficient information about your friend.

#8

wokring at S&P or Moody’s is prob the worst thing you can do. dont do it.

#9

research or credit would be the most possible places.

#10

SuperiorReturn Wrote: ------------------------------------------------------- > wokring at S&P or Moody’s is prob the worst thing > you can do. > dont do it. Superior, I was looking to move to S&P after a few years at my current gig. Why is it a bad move? Why don’t you like rating agencies career-wise?

#11

sjv1030 Wrote: ------------------------------------------------------- > Why don’t you like rating agencies career-wise? do you like TPS reports?

#12

I don’t mind TPS reports by themselves, but those cover sheets suck balls!

#13

hahaha damn, so you mean to tell me work at rating agencies is all TPS? Then one would argue all research is TPS to justify the fees clients pay…