Congratulations to everyone who passed their FAEs at the end of October. A great achievement which will stand to you for the rest of your career.

Due to the growth in the economy, deals activity has increased significantly. This has led to a hiring increase across the positive advisory space – Corporate Finance, Transaction Services, Business Modelling and Valuations.

With the recent excellent FAE results, a common question has been asked: “I’m a newly qualified accountant; how do I move into Corporate Finance?”

Below, I have outlined what clients/interviewers look for, and the skills and attributes necessary to increase your chances.

 

Background

Very strong academics is the first thing for employers. This is coupled with the completion of a training contract where experience was gained across either Audit or Advisory, or in certain instances, Analyst positions within Financial Services or an Industry setting. Typically, a Corporate Audit background is preferred due to the candidate having the nuts and bolts of accounting behind them.

 

Motivations

In an interview, you will be asked why you want to move into Corporate Finance – your reasoning and motivations. You will also be tested on your understanding of what Corporate Finance is, and your level of interest. It is very important to communicate to the employer an acknowledgement of the following: although you may not have deals experience; you are commercially minded, that you know the direction you want to take your career, and the client facing nature of the role.

 

Knowledge of the Market

When an interviewer asks about a certain client of yours, they may probe you on your knowledge of the company and the sector they operate in, for example

• How is the company performing?
• What risks are the company facing?
• How do you think they will do going forward?
• How do you think they could improve?

It is essential to research your clients in your current role to show you have a genuine interest in business, and in advising growth companies. They want someone who is informed as to what acquisitions have taken place in Ireland, over the last couple of years, what restructuring has taken place, and where the opportunities have been. Thus, it will be important to read up on transactions that have occurred in Ireland, be able to talk about a couple that have stood out and interested you, and then sectors where you see potential. Also, you will need to research the Corporate Finance team you are looking to join and what they have been involved in, and be able to talk about some of the transactions they have advised on.

 

Conclusion

Overall, Corporate Finance interviews aren’t that technical, but more high level about your knowledge of micro and macro economics, with the interviewer trying to gauge your interest and understanding of Corporate Finance. For someone to be successful, they need to be on the ball, hardworking, professional and a good networker who can build strong client relationships. This all needs to come across in the interview. They won’t expect you to be an expert –  but it is vital to have a good idea of what is going on, and to be genuinely enthusiastic about the prospect.

If you would like to discuss this in more detail, please contact James Lynch on 01-6854414 or email j.lynch@masonalexandersports.ie