How to Move From a CA Role to Investment Banking (A Practical, Step-by-Step Guide)

Many Chartered Accountants (CAs) feel that after qualification, their career becomes limited to audit, tax, or accounting roles. After some time, this work may start feeling repetitive. At this stage, many CAs start looking at investment banking as a high-growth and high-learning career option.

But the biggest confusion is this:

“I am a CA, not an MBA. Can I really move into investment banking?”

The short answer is yes.

The longer answer is that it requires planning, skill building, and patience.

This article explains, step by step, so that even if your English is average, you can clearly understand:

• What investment banking really is
• Why CAs are suitable for it
• What skills you need to learn
• How to practically move from a CA role to investment banking in India

What Exactly Is Investment Banking? (Explained Simply)

Investment banking is not about investing your own money.
It is about helping companies raise money and complete large financial deals.

An investment banker helps companies with:

• Raising funds from investors
• Mergers and acquisitions (buying or selling companies)
• Valuing companies
• Preparing financial models
• Advising on big financial decisions

In simple words, investment bankers help businesses grow through money and strategy.

Investment banking firms work with:

• Large Indian companies
• Startups raising big funding
• Foreign investors
• Private equity and venture capital funds

Global investment banks include firms like Goldman Sachs, Morgan Stanley, and JPMorgan Chase.
In India, many CAs start their journey through boutique investment banks and valuation firms.

Why Investment Banking Attracts CAs

CAs usually move towards investment banking for three main reasons:

Better Learning and Exposure

Investment banking gives exposure to:

• Big business decisions
• Corporate strategy
• Startup funding
• M&A deals

You learn how companies actually grow and expand.

Faster Career Growth

Compared to traditional CA roles, investment banking:

• Has faster role progression
• Gives exposure at an early age
• Rewards skill and performance

Higher Earning Potential

While the initial salary may not be very high, long-term earning potential is strong, especially if you stay in the deal side of finance.

Are CAs Really Suitable for Investment Banking?

Yes. In fact, CAs have strong advantages.

Financial Knowledge

As a CA, you already understand:

• Balance sheets
• Profit and loss statements
• Cash flow statements
• Accounting standards
• Corporate structures

These are the foundation of investment banking.

Analytical Thinking

Investment banking requires deep analysis.
CA training builds this habit during:

• Articleship
• Audit planning
• Financial reviews
• Due diligence work

Discipline and Work Pressure Handling

CAs are used to:

• Long study hours
• Tight deadlines
• High responsibility

This makes CAs mentally strong for demanding IB roles.

Common CA Roles vs Investment Banking Roles

Before planning a switch, you must understand the difference.

Typical CA Roles

• Statutory audit
• Tax compliance
• GST and income tax work
• Accounting and reporting

These roles focus more on past data and compliance.

Investment Banking Roles

• Financial modelling
• Valuation analysis
• Deal execution support
• Pitch deck preparation
• M&A analysis

These roles focus on future growth and strategy.

Can a Fresher CA Enter Investment Banking?

Yes, but expectations must be realistic.

Freshers usually do not enter top global banks directly.
Most start through:

• Valuation firms
• Transaction advisory teams
• Boutique investment banks
• Corporate finance roles

This is completely normal and acceptable.

Step-by-Step Guide: How to Move From CA to Investment Banking

Let us now break the transition into clear, practical steps.

Step 1: Decide Your Entry Route

There are three practical routes for CAs:

Route 1: Articleship + Relevant Exposure

If your articleship included:

• Valuation work
• Due diligence
• Corporate finance
• Transaction advisory

Then your transition becomes easier.

Route 2: CA + 1–3 Years of Experience

Many CAs move after:

• Audit experience
• Accounting roles
• Consulting roles

They first shift to valuation or advisory and then to IB.

Route 3: CA + Additional Skills or Courses

Some CAs do:

• Financial modelling courses
• Valuation certifications
• Short-term IB training

These help fill skill gaps.

Step 2: Learn Core Investment Banking Skills

This is where many CAs fail.
A CA degree alone is not enough.

Skills You Must Learn

Financial Modelling

You must learn:

• Excel-based forecasting
• Cash flow projections
• Basic valuation models

You do not need to be perfect, but you must understand the logic.

Valuation Techniques

You should understand:

• Discounted Cash Flow (DCF)
• Comparable company analysis
• Transaction multiples

These are used in almost every deal.

PowerPoint and Presentation Skills

Investment bankers prepare:

• Pitch decks
• Investor presentations
• Deal summaries

Clear slides are very important.

Step 3: Gain Practical Deal-Related Exposure

Practical experience matters more than certificates.

You can gain exposure through:

• Internships in valuation firms
• Working with boutique IB firms
• Transaction advisory teams in CA firms
• Startup finance roles

Even small firms are okay if the work is relevant.

Step 4: Use Valuation as a Bridge Role

Valuation roles are the best entry point for CAs.

Why valuation helps:

• It uses accounting + finance
• It teaches deal thinking
• It prepares you for M&A work

Many investment bankers started their careers as valuation analysts.

Step 5: Modify Your CV for Investment Banking

A normal CA CV will not work.

What Recruiters Look For

• Numbers and impact
• Deal exposure
• Analytical work
• Financial understanding

Example

Weak point:

“Handled audit of multiple clients”

Strong point:

“Analysed financial statements of companies for valuation and transaction support”

Your CV must show analysis, not routine work.

Step 6: Network Smartly (Not Desperately)

Most IB jobs come through referrals, not job portals.

You should:

• Connect with finance professionals on LinkedIn
• Speak to ex-CAs in IB
• Ask for guidance, not direct jobs
• Attend finance events and webinars

Networking takes time, but it works.

Step 7: Prepare for Interviews Properly

Investment banking interviews test:

• Financial understanding
• Logical thinking
• Practical knowledge

You may be asked:

• How to value a company
• Why cash flow matters
• How mergers work
• Why you want IB after CA

Clear thinking is more important than fluent English.

Do You Need an MBA to Enter Investment Banking?

Not compulsory.

MBA helps if:

• You want global banks
• You want faster front-end entry
• You lack confidence or exposure

But many CAs enter IB without an MBA, especially in India.

Salary Reality: Do Not Believe Fake Numbers

Entry-Level (India)

• ₹6–12 lakhs per year

Mid-Level (2–4 years)

• ₹15–30 lakhs per year

Salary grows with:

• Deals handled
• Skills developed
• Network strength

Common Mistakes CAs Make

Avoid these:

• Thinking CA degree is enough
• Ignoring Excel and modelling
• Expecting instant high salary
• Applying blindly without preparation
• Giving up too early

Investment banking rewards patience and persistence.

Is Investment Banking Right for You?

Ask yourself honestly:

• Can you handle long working hours?
• Do you enjoy analysis and problem-solving?
• Are you ready to start from junior roles?

If yes, investment banking can be a strong long-term career.

Final Thoughts

Moving from a CA role to investment banking is difficult but achievable.

You need:

• Skill building
• Practical exposure
• Right mindset
• Time and patience

Many ordinary CAs from non-metro cities have done it. With the right planning, you can too.