Can I become a investment banker with a business degree?

yo, gemma.

Investment banking is going to need 3 As at a level, and you should really have maths in the mix.
also, out of the offers you have i'd recommend going for sheffield. it's not perfect, but it's not a bad uni.
just to elaborate on the choice of degree, business is fine.

someone else mentioned that getting into front office will be extremely unlikely, which is true (unfortunately as you may not have the same credentials as other candidates). however middle and back office can happen for you. you need to:

try and get 3 As.
get a 1st class degree, and seriously consider doing a masters from LSE or oxbridge etc.
get an internship during your degree

Reply 41

Tomatochuckers

18

Original post by Hackett

I can't talk about LSE as I don't know the course, but Durhams course title is quite misleading in the sense that it is not really your normal business degree, it's more economics/accounting/finance. Not really any pointless modules that you tend to get with standard biz degrees. It's a good course and I know a lot of people who have secured top jobs at both the buy side an sell side from that degree

Fair enough, it was a long time since I looked at the course content and I treat stuff like a+f as a business degree. I was actually thinking of applying to it along with Durham A+F, as it seemed very interesting + had decent prospects, but the uni said there was no point applying to both as you could switch over from one to the other after first year.

The comment about needing a quantitative degree is a pile of **** though, well for M&A. I even know actuaries who haven't done quantitative degrees. Wouldn't even say you needed maths A level.

Reply 42

Dukeofwembley

Original post by GemmaSmith

Haha I'm screwed! I was in young enterprise (more business related) a levels should be ABB, gonna have to settle for something less 'flashy' than investment banking I guess?

This was posted from The Student Room's iPhone/iPad App

trust me your not the first

everyone wants to play for the premier league, only a handful do

Reply 43

Dukeofwembley

Original post by Tomatochuckers

You're talking so much **** it's unbelievable.

LSE- Business mathematics
Durham- Business Finance

Try telling that to the guys who got into FO IB from those. Also, try telling that to the number of people without a quantitative degree in finance.

which are all cambridge ,lse or have extraordinary charisma and can sell a magikarp for 500 dollars

join a big 4

become partner or become a cfo,

earn bank

or

apply to ba future pilot program , much more glamorous than ib

(edited 11 years ago)

Reply 44

cl_steele

2

Original post by Dukeofwembley

trust me your not the first

everyone wants to play for the premier league, only a handful do

a handful is pushing it considering all the leading investment banks are firing people in droves...

Reply 45

cl_steele

2

without connections or one hell of a degree from the best universities in the world a job in high finance looks pretty bleak... think of all the people who want to make bars in this world...

Reply 46

TurboSalesman

..

(edited 11 years ago)

Reply 47

On The Horizon

Original post by MinorityInterest

You need to be clearer when giving out advice. There are a negligible amount of M&A bankers around who hold physics/maths degrees, and there are plenty of M&A bankers with business/AccFin bachelors/masters (though again, usually from continental Europe, I find). It all turns on what you mean by "banker".

I was making a general statement about people working in the finance industry - they tend to have highly numerate degrees; that is a fact, there is no getting away from it - you could even guess and be correct.

Provide me proof of your statement otherwise you're talking arse.

Reply 48

On The Horizon

Original post by Tomatochuckers

You're talking so much **** it's unbelievable.

LSE- Business mathematics
Durham- Business Finance

Try telling that to the guys who got into FO IB from those. Also, try telling that to the number of people without a quantitative degree in finance.

Are you doing a business degree?

The fact of the matter is, highly numerate degrees are massively important for obtaining jobs in the finance industry. Business studies will prepare you well for some aspects of Business, but Finance is the more numerate side of Business - Maths, Physics, Economics (BSc) are the most common. I am not talking rubbish, you are just deluded.

The degrees you mentioned are numerate intensive. Business studies (in the general understanding of the degree) is a terrible preparation for a high paying finance career. Fact.

Reply 49

Tokyoround

16

Original post by On The Horizon

Are you doing a business degree?

The fact of the matter is, highly numerate degrees are massively important for obtaining jobs in the finance industry. Business studies will prepare you well for some aspects of Business, but Finance is the more numerate side of Business - Maths, Physics, Economics (BSc) are the most common. I am not talking rubbish, you are just deluded.

The degrees you mentioned are numerate intensive. Business studies (in the general understanding of the degree) is a terrible preparation for a high paying finance career. Fact.

Sorry but I must agree with the others. This emphasis on "highly numerate degree" doesn't always hold true for banking, but for you to then include the entire field of finance is just plain incorrect.

You do realise there is a consulting aspect to finance right? The greater variety of backgrounds your staff have, the greater variety of services you can provide and connect with different industries. The vast majority of jobs in finance, broadly-speaking, day-to-day will not require more than GCSE or A-level maths at a push.

Reply 50

MinorityInterest

5

Original post by On The Horizon

I was making a general statement about people working in the finance industry - they tend to have highly numerate degrees; that is a fact, there is no getting away from it - you could even guess and be correct.

Provide me proof of your statement otherwise you're talking arse.

"People in the industry"; it's a very broad industry that requires various skill sets across a number of product lines. You can't honestly think that an M&A banker requires the same quantitative abilities as say, a quant or a bond trader.

My proof is all on linkedin. I don't see it as appropriate to link personal profiles here, but I'll PM you some if you like. In the space of 5 minutes I've found several people working at bulge bracket banks in a number of departments with degrees in management, business, Acc/Fin (or do you consider these numerate enough?), history and languages.

Further proof resides in myself. I study something not entirely numerate and yet here I am going into M&A next year (all being well).

(edited 11 years ago)

Reply 51

Gweilo

Hi Gemma,

Here is my two cents.

Firstly, The only uni I know of that will place you really well out of the ones you listed is Glasgow, so I advise you go there. Sheffield second.

Once you get there, join as many clubs and societies as feasible and try to get board positions ASAP. Def. join GUTIC and try to get a position there if you can... Same with the poker society in my opinion, as well as the business club.

Differentiate yourself somehow by doing something other wannabe IBers don't... Join the citizens advice... Become a charity mugger. Whatever.

Apply to spring weeks for everywhere.

Apply to the big four as well as all the Scottish asset managers for internship positions... They seem to favour Scottish grads from what I've seen. Also apply to the larger oil and gas companies... Anything with a recognisable brand.

After getting spring weeks, internships as above, start applying to internships at banks. As has already been stated by someone else, Scotland is good as it gives you one more year, one more chance.

In your second or third year at Glasgow, consider changing your degree to accounting and finance or economics.

Apply speculatively to lots of the smaller firms that do IB type work. Quayle Munro etc.

Stop reading the student room as it will discourage you since most people here aren't sure what they're talking about. Start reading wall street oasis. Read other sources of IB related stuff and make it your passion or you don't stand a chance.

Get a first in your degree.

In my experience, taking the round about route as above it your best shot, but if you can, save yourself a lot of hassle and just get into a target. Remember that you need to be as good as everyone else applying, but you also need to differentiate yourself somehow.

(caveat: former Glasgow uni student. Not working in IB, but corporate development.)

Reply 52

GemmaSmith

OP

4

Original post by Gweilo

Hi Gemma,

Here is my two cents.

Firstly, The only uni I know of that will place you really well out of the ones you listed is Glasgow, so I advise you go there. Sheffield second.

Once you get there, join as many clubs and societies as feasible and try to get board positions ASAP. Def. join GUTIC and try to get a position there if you can... Same with the poker society in my opinion, as well as the business club.

Differentiate yourself somehow by doing something other wannabe IBers don't... Join the citizens advice... Become a charity mugger. Whatever.

Apply to spring weeks for everywhere.

Apply to the big four as well as all the Scottish asset managers for internship positions... They seem to favour Scottish grads from what I've seen. Also apply to the larger oil and gas companies... Anything with a recognisable brand.

After getting spring weeks, internships as above, start applying to internships at banks. As has already been stated by someone else, Scotland is good as it gives you one more year, one more chance.

In your second or third year at Glasgow, consider changing your degree to accounting and finance or economics.

Apply speculatively to lots of the smaller firms that do IB type work. Quayle Munro etc.

Stop reading the student room as it will discourage you since most people here aren't sure what they're talking about. Start reading wall street oasis. Read other sources of IB related stuff and make it your passion or you don't stand a chance.

Get a first in your degree.

In my experience, taking the round about route as above it your best shot, but if you can, save yourself a lot of hassle and just get into a target. Remember that you need to be as good as everyone else applying, but you also need to differentiate yourself somehow.

(caveat: former Glasgow uni student. Not working in IB, but corporate development.)

Thank you so much! Really poker society?

This was posted from The Student Room's iPhone/iPad App

Reply 53

Gweilo

Original post by GemmaSmith

Thank you so much! Really poker society?

This was posted from The Student Room's iPhone/iPad App

You're welcome.

Yes, poker society. Two reasons.

Lots of people I know in IB, trading etc play it.

Secondly, it's a hugely male dominated society and activity.... But so is IB... Whilst it will help guys to some extent, I believe it will help a girl even more when making applications as its something you'll be able to connect with your interviewers with instantly... Unlike horse riding or drama club or whatever it is most girls are into.

(sexism is added to make a point)

If you can learn a language at uni too, perfect.

(edited 11 years ago)

Reply 54

Gweilo

Here's another thought... Consider taking a year in industry even though it's not part of your course. Pm me and I'll give you my email address, and when the time comes, I can prob get you an interview at one of the worlds largest companies/best brands. Should set you up well for IB if you managed to get a year internship before your second year at uni.

Reply 55

Acidy

18

If I'm going to be honest I think you should try and gain some experience, shadow investment managers before you make a final decision, and if you're still keen consultate your school's career counciler.

Despite as much as it may seem, the opinions of tsr members aren't the be all-end all of what to do with your career path.

Reply 56

GemmaSmith

OP

4

I forgot to mention I'm on my sisters account I'm actually make haha! But that's interesting I like poker as it is i'll be sure to join, that's the other thing.. Will a year in industry be essential, is that more important because I know Liverpool are good at it but Sheffield seem not to offer it? :/ is it a big disadvantage?

This was posted from The Student Room's iPhone/iPad App

Reply 57

Aristotle's' Disciple

19

I went to a Goldman Sachs automotive conference last month. Of the 5 associates me and my mate spoke to, 3 of them had studied at Cambridge and the other 2 at one of the big 5 (LSE and Warwick), 4 had studied maths, one economics, one physics. Unless it's very coincidental, there's definitely a correlation between numerate degrees and IB jobs, though FO or MO I could not say.