TL;DR: 2 years in Big 4 technical accounting (debt/equity financings, restructurings). Hate it, low pay for the hours, no bonus, no real path to Manager without a CPA I don’t want. Spent 9 months applying and networking hard for banking/credit roles — private credit, direct lending, rating agencies, regional bank credit programs, ABL, structured finance, internal lateral, specialized recruiters, all levels from Analyst to Associate. Multiple final rounds, zero offers. Feeling pretty hopeless and want honest advice on what I’m missing.
Background: I'm a Senior Associate at a Big 4 firm in a technical accounting group focused on derivative instruments, advising companies on the accounting/reporting side of debt and equity financings, restructurings, refinancings, and instruments like convertible debt, warrants, and rate swaps. Real transaction exposure, but from the reporting side, not the deal-execution or credit-decision side.
I never wanted to be in accounting. I wanted banking out of undergrad, couldn’t land it, and took this role as a fallback. Two years in: comp is low relative to the hours, no bonus either year, and there’s no promotion path to Manager without a CPA I have zero interest in getting. I’ll likely get pushed out before that decision even comes up. I can’t do another 2-3 years of this.
What I’ve tried over the last 9 months (listing this so people don’t suggest things I’ve already exhausted):
**•** Commercial/corporate banking — wide net across analyst, credit analyst, associate, underwriting, RM, and portfolio monitoring roles
**•** Private credit / direct lending shops
**•** Credit rating agencies
**•** Regional bank credit/development programs
**•** ABL and structured finance groups specifically
**•** Internal lateral to a due diligence group — dead end
**•** Applying a level down (Analyst, not just Associate) — no different
**•** Specialized recruiters, including ones who reached out to me directly
**•** Warm referrals — one got me to a final round in corporate banking, no offer; another got me to a 4th round with a senior partner at a different firm, no offer
Genuinely asking, not venting for the sake of it: is technical accounting just a real disqualifier for banking/credit roles that no framing fixes? Is there a lane I haven’t tried? Did anyone here make a similar jump, and what actually worked — was it a different target market, a different seniority level, going back for an MBA, something else entirely?
Also weighing whether a fully debt-funded (not top 10, don’t think I’d be competitive) MBA is a smart move here or just an expensive way to delay the same problem for a few more years without knowing if it’ll land any differently with admissions committees than it has with recruiters.
Not fishing for sympathy — I’m just at the point after 9 months of consistent effort where I don’t know what lever is left to pull, and it’s genuinely worn me down. Any honest input, even if it’s “this pivot isn’t realistic, rethink the target,” would be appreciated.