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Please Advice..is LSE really worth 45k ??

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    If I was in your position, I will go to Manchester and do everything I can to get the role I want.

    I will invest that £45k to maximise my return possibly buy a property for rental. That's just me I love business and making profit.
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    (Original post by moritzplatz)
    fun to see how everyone thinks that getting into lse implies earning so much after you graduate that "45k will be a matter of 2 years to flip"

    investment banking does not work this way and neither does life.
    In a front office role at a top bank with an an average of £70k gross salary in your first year, take home would be ~£40k. With £20k in rent, bills, food, and all other spending, that stills leaves you with £20k saved in your 1st year. Average gross salary for 2nd years analysts is £85k. Paying off the debt in 2 years is more than possible.
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    (Original post by Zweihander)
    In a front office role at a top bank with an an average of £70k gross salary in your first year, take home would be ~£40k. With £20k in rent, bills, food, and all other spending, that stills leaves you with £20k saved in your 1st year. Average gross salary for 2nd years analysts is £85k. Paying off the debt in 2 years is more than possible.
    Ermmm where do you live and eat?
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    (Original post by Zweihander)
    In a front office role at a top bank with an an average of £70k gross salary in your first year, take home would be ~£40k. With £20k in rent, bills, food, and all other spending, that stills leaves you with £20k saved in your 1st year. Average gross salary for 2nd years analysts is £85k. Paying off the debt in 2 years is more than possible.
    it is definitely not automatic and only a small percentage of who goes to LSE gets there.
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    (Original post by TurboCretin)
    I would have thought that being able to say "I got a full scholarship to go to Manchester" would outweigh any relative benefit which going to LSE would confer. Could be wrong.
    Yep. Wrong.
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    (Original post by moritzplatz)
    fun to see how everyone thinks that getting into lse implies earning so much after you graduate that "45k will be a matter of 2 years to flip"

    investment banking does not work this way and neither does life.
    Sure it does. My first year bonus was admittedly at the tail end of the good days... but it paid £45k and then some.
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    It is certainly worth the money - I know someone who got head hunted right after graduating from there and his starting salary was 40k.
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    (Original post by President_Ben)
    Sure it does. My first year bonus was admittedly at the tail end of the good days... but it paid £45k and then some.
    good to know.
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    (Original post by kka25)
    This sort of post failed to mention anything about the performance of the candidates. Moreover, it also failed to say anything about the turnover rates of these candidates. This sort of post hides itself from the pretentious and highly superficial world of 'brands' and 'superficial prestige' where as a matter of fact, at the end of the day, the performance of the candidates and their ability will matter the most.

    Also, by looking at the post's sample size (ONE person he met) and the very generalize (A LOT of banks), I highly doubt the OP should take the poster seriously..
    If anything I think the OP should take the post far more seriously than any of the spurious rubbish on here. Not only have I come through the university experience I also actually work at a top investment bank. I have friends throughout the City (from spring/summer internships, school and university) so I actually think my network is far broader than many of yours.

    I am trying to give the honest truth - and President Ben seemed to agree with me a few posts before, the path into finance from LSE versus Manchester will be so much easier.

    You may not like the generalist truth that brand value matters more than an individual candidate but this is fact when you keep in mind that:

    a) Firms spend more recruiting at LSE/Oxford/Cambridge (Maybe add Warwick/UCL onto the list too) than at other universities
    b) Firms get graduates from one uni to evaluate fellow students from that uni (i.e. LSE trader evaluates LSE intern candidates). Guess what? Nobody from Manchester is at the firm to evaluate you, and if you end up in the hands of a former Oxford guy he is going to instantly disregard you.
    c) The percentage of students from Manchester economics entering top tier IBs is far smaller than LSE. I don't have stats on this but I doubt you'd disagree, unless you want to bring in accounting/middle office etc.
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    (Original post by Kerpal)
    If anything I think the OP should take the post far more seriously than any of the spurious rubbish on here. Not only have I come through the university experience I also actually work at a top investment bank. I have friends throughout the City (from spring/summer internships, school and university) so I actually think my network is far broader than many of yours.
    Arrogance it its best. You think you're the only person who has experienced Uni and work here? A person doesn't need to bring in those statements to make a point. All the person needs is facts and you Sir, are not bringing facts, just a blotted biased opinion based on your own experienced.

    I am trying to give the honest truth - and President Ben seemed to agree with me a few posts before, the path into finance from LSE versus Manchester will be so much easier.

    You may not like the generalist truth that brand value matters more than an individual candidate but this is fact when you keep in mind that:
    So, one person agrees with you; doubt it makes a big impact. Who is the poster anyway. You know him in person? Can you verify his source? I doubt you can. You cite him because he agrees with you; if this is a scientific research, they'll fry you instantly.

    a) Firms spend more recruiting at LSE/Oxford/Cambridge (Maybe add Warwick/UCL onto the list too) than at other universities
    Source?

    b) Firms get graduates from one uni to evaluate fellow students from that uni (i.e. LSE trader evaluates LSE intern candidates). Guess what? Nobody from Manchester is at the firm to evaluate you, and if you end up in the hands of a former Oxford guy he is going to instantly disregard you.
    Source? What Firms? Which Firms? When is it? Where are these Firms? Source?
    Who's the Oxford guy? You know him? Does he represent all Oxford graduates?
    LOL if I were to evaluate these sort of things, I would also be a bit keen on getting my own alumni to work with me. Common sense.

    c) The percentage of students from Manchester economics entering top tier IBs is far smaller than LSE. I don't have stats on this but I doubt you'd disagree, unless you want to bring in accounting/middle office etc.
    Source of this percentage? Want to make a statement? Bring (credible) source, then we can do business.
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    (Original post by kka25)
    Arrogance it its best. You think you're the only person who has experienced Uni and work here? A person doesn't need to bring in those statements to make a point. All the person needs is facts and you Sir, are not bringing facts, just a blotted biased opinion based on your own experienced.



    So, one person agrees with you; doubt it makes a big impact. Who is the poster anyway. You know him in person? Can you verify his source? I doubt you can. You cite him because he agrees with you; if this is a scientific research, they'll fry you instantly.



    Source?



    Source? What Firms? Which Firms? When is it? Where are these Firms? Source?
    Who's the Oxford guy? You know him? Does he represent all Oxford graduates?
    LOL if I were to evaluate these sort of things, I would also be a bit keen on getting my own alumni to work with me. Common sense.



    Source of this percentage? Want to make a statement? Bring (credible) source, then we can do business.
    Source for your opposing views?
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    (Original post by TomasK)
    Source for your opposing views?
    You are aware this is a fallacious statement? In debates, this can be rejected. Until the person provides the evidence, I don't need to bring any retorts whatsoever.
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    (Original post by kka25)
    You are aware this is a fallacious statement? In debates, this can be rejected. Until the person provides the evidence, I don't need to bring any retorts whatsoever.
    So you're claiming that Manchester Economics graduates are at least as likely to get a job in a front office IB role as a grad from LSE?

    Really, look across the city buddy, you'll find out very quickly how wrong this is.

    Do you really think firms have the time and resources to honestly sift through 10k+ applications for each intake they have each year? Hopefully you don't need a degree of any sort to realise they don't, and as such they do the next best thing - find things that have worked in the past and stick to them. What has worked in the past? Hiring top graduates from top universities.

    I'm sorry if this truth is difficult to swallow because maybe you chose a university for the quality of the course versus an offer from a more reputable university where perhaps the course didn't suit you as much. Everyone is idealistic and hopes that things will work out because you're a quality candidate and that will shine through, and i'm doubtless it would....if your CV actually got read, which it doesn't.

    I'm really glad that in Oxbridge debating we can reject the fact you have nothing to back up your own points except for pointing out I don't have a source or statistics. But I suspect a lot of people reading this forum are seeing what I've written and accepting that it makes sense. You are sitting in the idealistic tree hoping things will work out for this OP (who is a complete stranger to me) because he's a smart chap. You're actually fighting very hard to lead him down a path which he will eventually regret. If you want a source why not look up the average salary of an LSE student versus one from Manchester. Something of that nature is probably available.
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    (Original post by Kerpal)
    If anything I think the OP should take the post far more seriously than any of the spurious rubbish on here. Not only have I come through the university experience I also actually work at a top investment bank. I have friends throughout the City (from spring/summer internships, school and university) so I actually think my network is far broader than many of yours.

    I am trying to give the honest truth - and President Ben seemed to agree with me a few posts before, the path into finance from LSE versus Manchester will be so much easier.

    You may not like the generalist truth that brand value matters more than an individual candidate but this is fact when you keep in mind that:

    a) Firms spend more recruiting at LSE/Oxford/Cambridge (Maybe add Warwick/UCL onto the list too) than at other universities
    b) Firms get graduates from one uni to evaluate fellow students from that uni (i.e. LSE trader evaluates LSE intern candidates). Guess what? Nobody from Manchester is at the firm to evaluate you, and if you end up in the hands of a former Oxford guy he is going to instantly disregard you.
    c) The percentage of students from Manchester economics entering top tier IBs is far smaller than LSE. I don't have stats on this but I doubt you'd disagree, unless you want to bring in accounting/middle office etc.
    looking at the differing % of people who get FO banking (or average graduate salaries) from Manchester compared to LSE does not tell you that much. the underlying quality and aspirations of students at both universities are very different.

    why do you think Oxford graduates would simply disregard someone from Manchester?
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    (Original post by lol_wut)
    looking at the differing % of people who get FO banking (or average graduate salaries) from Manchester compared to LSE does not tell you that much. the underlying quality and aspirations of students at both universities are very different.why do you think Oxford graduates would simply disregard someone from Manchester?
    The bold bit. This is more than enough for LSE to be a better place for people actually wanting to go to IB.

    This has been said many times - if you're surounded by people who aspire to work in investment banking, are driven and enthusiastic about it, it only makes sense to be around these people as it makes you yourself work harder and provides more scope to get involved in IB-related activities (not only that, IB employers knowing that the bulk of people at X university want to work in IB will naturally target those universities as they'll get more than enough quality applicants from there, why bother wasting resources and cherry-picking everyone out from the rest?). On top of that, many of your coursemates will be working within the industry, which will prove to be an amazing network of people to know later on. Not to mention the London factor as well.

    EDIT: No doubt it can be done from Manchester. But thinking that it wouldn't make a difference is naive. This isn't directed to lol_wut.
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    (Original post by Kerpal)
    So you're claiming that Manchester Economics graduates are at least as likely to get a job in a front office IB role as a grad from LSE?

    Really, look across the city buddy, you'll find out very quickly how wrong this is.

    Do you really think firms have the time and resources to honestly sift through 10k+ applications for each intake they have each year? Hopefully you don't need a degree of any sort to realise they don't, and as such they do the next best thing - find things that have worked in the past and stick to them. What has worked in the past? Hiring top graduates from top universities.

    I'm sorry if this truth is difficult to swallow because maybe you chose a university for the quality of the course versus an offer from a more reputable university where perhaps the course didn't suit you as much. Everyone is idealistic and hopes that things will work out because you're a quality candidate and that will shine through, and i'm doubtless it would....if your CV actually got read, which it doesn't.

    I'm really glad that in Oxbridge debating we can reject the fact you have nothing to back up your own points except for pointing out I don't have a source or statistics.
    Enough said. You think people should just take your word for it? Who do you think you are? You give a claim, prove it! No proof? Then it's just pseudo-fact buddy!

    You come here, so confident, and told the OP what to do; but when I asked for evidence to support these very confident to the point obnoxious claims, you can't give me a single evidence, and you expect people to naively follow it? Only those why are studying in their A-Levels might fall for it.

    But I suspect a lot of people reading this forum are seeing what I've written and accepting that it makes sense. You are sitting in the idealistic tree hoping things will work out for this OP (who is a complete stranger to me) because he's a smart chap. You're actually fighting very hard to lead him down a path which he will eventually regret. If you want a source why not look up the average salary of an LSE student versus one from Manchester. Something of that nature is probably available.
    Yes, those who believe in hearsay; general baseless opinions,;getting where-on-earth-information; etc, they will take this.
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    Honestly I don't have the time to research and find out empirical facts for something which is quite obviously true if you actually work in the city.

    Please feel free to compare the number of events which banks hold at LSE versus Manchester if you do require proof that Banks spend more money on LSE recruitment than on Manchester.

    I'm glad university has taught you to question everything, but I have to ask a question - which university do/did you attend? And what bank are you working for? And if you're not at Oxford/Cambridge/LSE/Warwick/UCL, what percentage of your friends have secured internships/grad roles in the Front office at decent investment banks?

    I can appreciate the way I delivered my message appears to have been pretty forthright and obnoxious, it's because I didn't realise I'd encounter just vehement opposition saying what I thought was pretty obvious to most people.

    I sort of hope the OP does go to Manchester so that in 3 years he can tell us how hard he is finding it to secure a job and thank you for your excellent, if slightly sheltered, advice. The key difference between us is that I've been pretty straight forward about where I am coming from, and yet nobody has a clue if you work in the industry/applied and failed to get in/attend a top university etc etc.

    The other major issue you have is that your argument rests on the idea that because I have no facts it means I am wrong and you are right. But it may be that I am right despite a lack of facts, or it may be that we are both wrong. Me being wrong doesn't imply that you are right. I think that's the point you've missed. You also can't provide any sources/facts to the contrary which would demonstrate that I'm wrong. So in that respect i find it hard to really waste any further time on this thread or investigating to find proof which would back up my claims.
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    (Original post by Kerpal)
    Honestly I don't have the time to research and find out empirical facts for something which is quite obviously true if you actually work in the city.

    Please feel free to compare the number of events which banks hold at LSE versus Manchester if you do require proof that Banks spend more money on LSE recruitment than on Manchester.

    I'm glad university has taught you to question everything, but I have to ask a question - which university do/did you attend? And what bank are you working for? And if you're not at Oxford/Cambridge/LSE/Warwick/UCL, what percentage of your friends have secured internships/grad roles in the Front office at decent investment banks?

    I can appreciate the way I delivered my message appears to have been pretty forthright and obnoxious, it's because I didn't realise I'd encounter just vehement opposition saying what I thought was pretty obvious to most people.

    I sort of hope the OP does go to Manchester so that in 3 years he can tell us how hard he is finding it to secure a job and thank you for your excellent, if slightly sheltered, advice. The key difference between us is that I've been pretty straight forward about where I am coming from, and yet nobody has a clue if you work in the industry/applied and failed to get in/attend a top university etc etc.

    The other major issue you have is that your argument rests on the idea that because I have no facts it means I am wrong and you are right. But it may be that I am right despite a lack of facts, or it may be that we are both wrong. Me being wrong doesn't imply that you are right. I think that's the point you've missed. You also can't provide any sources/facts to the contrary which would demonstrate that I'm wrong. So in that respect i find it hard to really waste any further time on this thread or investigating to find proof which would back up my claims.
    (Original post by Kerpal)
    If anything I think the OP should take the post far more seriously than any of the spurious rubbish on here. Not only have I come through the university experience I also actually work at a top investment bank. I have friends throughout the City (from spring/summer internships, school and university) so I actually think my network is far broader than many of yours.

    I am trying to give the honest truth - and President Ben seemed to agree with me a few posts before, the path into finance from LSE versus Manchester will be so much easier.

    You may not like the generalist truth that brand value matters more than an individual candidate but this is fact when you keep in mind that:

    a) Firms spend more recruiting at LSE/Oxford/Cambridge (Maybe add Warwick/UCL onto the list too) than at other universities
    b) Firms get graduates from one uni to evaluate fellow students from that uni (i.e. LSE trader evaluates LSE intern candidates). Guess what? Nobody from Manchester is at the firm to evaluate you, and if you end up in the hands of a former Oxford guy he is going to instantly disregard you.
    c) The percentage of students from Manchester economics entering top tier IBs is far smaller than LSE. I don't have stats on this but I doubt you'd disagree, unless you want to bring in accounting/middle office etc.

    What about Imperial?
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    (Original post by Kerpal)
    I can appreciate the way I delivered my message appears to have been pretty forthright and obnoxious, it's because I didn't realise I'd encounter just vehement opposition saying what I thought was pretty obvious to most people.
    It's the internet.

    He'd want a full blown proof that 1+1=2 if you asserted it.
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    Honestly mate LSE will help - networking events, employer presentations, students very focused on career early on - but as you know what you want to do career wise if you got to Manchester just keep the momentum going. Make sure you get the experience you need before applying for graduate jobs - do the spring weeks, internships etc etc. Join investment societies and take part in sports. You will be fine.

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