Investment Banking from Essex University

Hi there,

I'd like to begin by just saying congratulations on your A-Levels and being predicted a 1st, you're clearly hard-working despite any circumstances.

However, IB is cut-throat to say the absolute least and, however backward it may be, prestige is everything which is clear you know due to the fact you asked this question in the first place. It's not impossible, it can be done through lots of hard work, however, I think the biggest thing you should do is network. I can't stress enough how important networking is for IB when you're at any university, but especially universities with less 'prestige'.

Personally, I think your best shot at getting into the industry is network like crazy and meet someone who could help you get in, whether that be an MD or VP at a major bulge-bracket in London. I'm not ruling out the possibility of you getting through by going down the traditional application process, but your chances are certainly slim. I'm sorry but you have to remember you will be competing against numerous LSE, UCL, Warwick and Oxbridge students who undoubtedly will have 1st's and perfect A-Levels.

Not sure how much help I was but I tried my best by using advice I've been given by many IB recruiters and industry professionals.

Good Luck!!

Thank you very much for your help!

I have been networking as much as possible so far but it can be difficult given a lack of campus events. Also, given that the very best of the best graduates will be targeting bulge bracket, is it more likely that I will secure a place at an IBAB like HSBC, BNP or RBC given that they are perhaps deemed less prestigious by top graduates?

I suppose if all else fails my best route in is an MSC at a top university after I graduate?

No worries.

It's great that you've been networking. The answer to your question is yes, it will probably be a much safer bet to target IBABs or even MM investment banks (both of these will have far less competition than BB or Boutiques). That being said, it still won't be easy by any means and as you mentioned, if you end up with no offers then an MSC or MBA at a TOP programme is definitely your best bet. Note the stress on the word 'top' though.

No worries.

It's great that you've been networking. The answer to your question is yes, it will probably be a much safer bet to target IBABs or even MM investment banks (both of these will have far less competition than BB or Boutiques). That being said, it still won't be easy by any means and as you mentioned, if you end up with no offers then an MSC or MBA at a TOP programme is definitely your best bet. Note the stress on the word 'top' though.

Hi, can you rank out of Leeds, Bristol, Loughborough, St. Andrews and Bath which are the best to have a chance of getting into IB? All Economics BSc except Bristol which is econ and finance. Would appreciate some help.

Sure, it's slightly subjective and every list has it different but I'll try and give you the general consensus from most banks.
1. Bristol
2. Bath
3. St. Andrews
4. Leeds/Loughborough

To be honest, if you are dead set on going into IB, I would recommend choosing between the top 2, they will give you the best chance by a long way. They are also pretty much as good as each other so I'd base the decision off of other factors rather than the best for IB.

Good Luck.

thank you! I'm surprised that St. Andrews is third! Any reason for this as I thought it was up there with Oxbridge in terms of prestige.

In terms of overall prestige yes it's up there, however, its location makes it really hard for networking (banks don't usually bother going up there for events) but also really hard to manage placements or internships because of where you are based. The most important thing for getting into IB is location, prestige comes second.

okay, I understand your point. I have seen in various forums of people's targets but Kings and Queen Mary are never there, not even semi-target. is there any reason for this considering they have top locations? Also, what's the process of getting into IB? like when do I need to apply for internships and will my university help?

I'll reply to every question separately for this answer I think.

KCL and Queen Mary are not targets because they simply aren't good enough for economics, but I've also been told by many banks that they aren't seen to 'breed' many top economists and subsequently, bankers. Evidence for this can easily be found by looking at league tables. For economics, QM and KCL are 30th and 46th in the country respectively and, while I understand these tables must be taken with a pinch of salt, these rankings just aren't good enough for IB, despite their amazing locations. Attending these unis will make it easier to network within the city yourself though so there are advantages to them.

You apply for internships in your second year of uni, ready to start these internships the following summer. Some people elect to do one internship, just this year, but some elect to do 2 or 3 over their 3 years at uni. Another useful programme to attend is IB spring week, which is a sort of mini-internship at a bank in the spring, for a week (obviously). Internships are the best way to secure a job for when you finish your degree and this often happens. Finally, yes your uni will help, but the extent of this help will depend entirely on the uni so I can't really say how much. They should help a lot but you can also join finance and investing societies where you will likely receive help from others who are applying.

Again, hope this helps and I apologise for the length of the answer! Sorry

Sooooo helpful! Honestly you know so much! Also, is there any use of doing an MSc in Economics or Economics and Finance if you were wanting to go into IB?

A MSc or MBA should definitely be a last resort. While these are helpful, they are very expensive to do, not to mention a waste of two years where you could have been working your way up the ranks in a bank already, moreover, even after you have completed these qualifications at a top university you will still have a hard time getting into IB. Normally, people apply a few times over after their BSc and hope to receive an offer (with networking and perseverance this should be possible), however, should you get consistently rejected because of numerous reasons then yes, the only option you are left with is to go and seek higher qualifications in Economics and/or Finance. The most common reason you will get rejected is that your university/degree just isn't seen to be good enough by the banks.

very helpful again! If IB couldn't be possible, I have always been interested in the job of stockbrokers. However, I have heard that stockbrokers are becoming replaced nowadays, is this true? Or can you still get a top job as a stockbroker?

Still possible, but the industry is shrinking for sure. I'd be more inclined to go into other sectors, accountancy, corporate finance, asset management, financial advising. All possibly better options than stockbroking. It's not as glamorous as films make out btw.

okay, I understand your point. I have seen in various forums of people's targets but Kings and Queen Mary are never there, not even semi-target. is there any reason for this considering they have top locations? Also, what's the process of getting into IB? like when do I need to apply for internships and will my university help?

You need to apply to Spring Weeks in the autumn of your first year to give yourself the best chance, then apply for summer internships in the autumn the year after then graduate scheme in your last autumn.

Haha the films make it look so good though For corporate finance or asset management do you need internships too like IB? I know IB pays well but do corporate finance and asset management jobs? Other than IB what other jobs in the industry pay top dollar (I know it's not all about the money but just curious to know).