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Echoing A1. I did 6 months of both as a rotation and I enjoyed AAS more. FDD had a huge inferiority complex with bankers, but did have a diverse set of exits (FP&A, standard accounting roles).
AAS had a lot more variety in the work, but a narrower set of exits (technical accounting/reporting roles in industry). Both can exit to accounting roles, but the accounting exits from AAS are better.
Basically, FDD is near the middle/bottom of the totem pole in the finance world, but AAS is top of the food chain in the accounting world. But if you don’t love accounting then you’ll hate it anyways.
Tbh corporate banking seems absolutely fire. Get paid like 65-70% of IB without the ridiculous hours
Kind of wish I did some type of corporate lending
Mentor
AAS doesn't limit you to financial reporting FYI. Of course, most people stay in financial reporting since that's what drew them to AAS in the first place; but, there are plenty of pivots to finance. I'm in an AAS group that specializes in financial instruments and it's not uncommon for seniors to exit to equity research and boutique IB positions. Managers/SMs also exit to investment finance manager roles.
It's also a good route for a t15/m7 MBA.
Subject Expert
Preach. Can’t say this enough, any competent AAS person learns more than accounting and can sell their experience
As someone from AAS to IB, I would say bankers honestly don’t know the difference among all these service lines lol. My coworkers still think I am from fdd. So if you really wanna land a high finance job, it doesn’t make that big of a difference tbh.
That's what I think too lol Just get an interview and do well in it.
Exits from FDD seem a lot better but the job itself seems less chill.
FDD gives you a chance at higher paying finance jobs whereas in AAS you are generally limited to financial reporting. Just another point of view.