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The "Am I good enough for Investment Banking/Consultancy?" Thread

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Original post by Tsunami2011
Out of pure interest, how have you gone from an AS student to an expert on IB in the space of a few short months?:unimpressed:



I am still an AS/A2 student, but have read through hundreds of threads, read through the internship threads too to see what sort of things people have to get into SWs, internships, grad schemes; and also have read through websites like M&I and Wall Street Oasis to get more info on the requirements :smile:

I'm still an A Level student, but would you really consider my suggestions to the poster to be incorrect or inaccurate?
Reply 2541
Original post by HeyyImRyan
I am still an AS/A2 student, but have read through hundreds of threads, read through the internship threads too to see what sort of things people have to get into SWs, internships, grad schemes; and also have read through websites like M&I and Wall Street Oasis to get more info on the requirements :smile:

I'm still an A Level student, but would you really consider my suggestions to the poster to be incorrect or inaccurate?


It's just the fact you've admitted the advice hasn't come from anywhere real, but has just been read from other forums and reposted as if it is the truth.
I am a foreign student doing my MSc in International Management, specialization in Finance at a target Uni (I would have liked to do MSc Finance, but did not qualify due to inefficient Finance courses in my BA Economics/Geography, where I also got a 2:1). My program is known to historically (including this year) send many people into IB however, so this is not an issue.

I have done one previous unrelated internship in the public sector, and this summer (after attending ALL the major bank presentations and then only getting to two first-rounds) I'll managed to work some connections to get a accounting/financial analyst role at a small boutique.

When people say "make sure to get some finance experience before you apply" how can one do that when I applied to all the major IB internship roles, and also scoured, researched and cold called boutiques and still ended up with nothing?

I feel like I'm being held back by a) that I'm not an EU citizen, so I'm put lower on the priority, and b) that I don't have direct finance experience (but how, when I can't even get basic summer analyst roles that 3rd year BA students are getting?!)

I really don't know what to do anymore to improve my chances next October, as it's my last chance.
Reply 2543
Im doing chemistry, biology and economics at a-level. In in first year of a-level and i might drop biology and pick up business studies and complete the whole of business alevel in 1 year.Would I be able to get into economics degree? Thanks guys


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Reply 2544
Original post by eesaa94
Im doing chemistry, biology and economics at a-level. In in first year of a-level and i might drop biology and pick up business studies and complete the whole of business alevel in 1 year.Would I be able to get into economics degree? Thanks guys


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Keep the Biology and forget about Business Studies. If you want to improve your chances of getting onto an Economics course I would pick up Maths.
I am year 12 atm

GCSE -
Triple sciences 3A*
maths A*
Chinese A*
RE A
ICT OCR National 4 distinctions
PE B
English lang B

A level -
A2 Maths A*
A2 Further Maths perdition A*
AS Physics Economics Politics predictions 3As
Critical Thinking D or E

Am I good enough for banking?

I heard from a guy who works in the city that nowadays Economics degree is not very competitive in terms of securing financial jobs, he told me that Mathematics degree is absolutely essential in such area, he also told me that the job is really all about maths and how you use maths to earn money, also it is easier to study Economics after maths but it is difficult another way round. In Economics degree only consists of 1/3 of the maths in a Maths degree so I was thinking about maths degree instead. He also told me that a first is absolutely important, and it is very difficult to get into banking using a 2:1.
I am not sure how much it is actually true, but that is what he told me, and he works for front office for many investment banks and as part of the recruitment team.
Reply 2546
Original post by Jackfinance17
I am year 12 atm

GCSE -
Triple sciences 3A*
maths A*
Chinese A*
RE A
ICT OCR National 4 distinctions
PE B
English lang B

A level -
A2 Maths A*
A2 Further Maths perdition A*
AS Physics Economics Politics predictions 3As
Critical Thinking D or E

Am I good enough for banking?

I heard from a guy who works in the city that nowadays Economics degree is not very competitive in terms of securing financial jobs, he told me that Mathematics degree is absolutely essential in such area, he also told me that the job is really all about maths and how you use maths to earn money, also it is easier to study Economics after maths but it is difficult another way round. In Economics degree only consists of 1/3 of the maths in a Maths degree so I was thinking about maths degree instead. He also told me that a first is absolutely important, and it is very difficult to get into banking using a 2:1.
I am not sure how much it is actually true, but that is what he told me, and he works for front office for many investment banks and as part of the recruitment team.


Among the cohort (mainly working in Markets opposed to IBD) that i know, the split between Econ and Maths is fairly even. The question is what is the attrition rate for applicants with each type of degree, that is something I don't know, although one suspects it to be higher for Econ grads. As for a 1st being a "must have" then it depends. Some desks will be very choosy academically others less so and are more likely to select you based on if they think you would be good addition to the team.
Original post by DeeDub
Among the cohort (mainly working in Markets opposed to IBD) that i know, the split between Econ and Maths is fairly even. The question is what is the attrition rate for applicants with each type of degree, that is something I don't know, although one suspects it to be higher for Econ grads. As for a 1st being a "must have" then it depends. Some desks will be very choosy academically others less so and are more likely to select you based on if they think you would be good addition to the team.


Hi,

I am still not sure if my grades are good enough though, even for a good university, the whole UMS scores had made me furious.
I am now confused about what's the difference between a trader and a banker now, because he talked about them but I still now sure what they do. And I mean like if you want a career that can make plenty of money, then which desk should I be? And I was thinking about hedge funds, but he told me the banks are restricting the position for such job because they don't want bankers to gamble anymore. I am just confused. :frown:
Reply 2548
Original post by Jackfinance17
Hi,

I am still not sure if my grades are good enough though, even for a good university, the whole UMS scores had made me furious.
I am now confused about what's the difference between a trader and a banker now, because he talked about them but I still now sure what they do. And I mean like if you want a career that can make plenty of money, then which desk should I be? And I was thinking about hedge funds, but he told me the banks are restricting the position for such job because they don't want bankers to gamble anymore. I am just confused. :frown:


I suggest you do some reading to try and get a clearer idea of how the industry works before you set yourself on a trajectory towards it. Wikipedia isn't actually a bad place to start:

http://en.wikipedia.org/wiki/Investment_bank
Reply 2549
Hey guys,

Would really appreciate any comments/ideas on how to bump up my CV and skill set as I am entering my second year of uni and applying for summer internships. Short summary of my CV as of now:

# First year (entering second) BA (Hons) Economics and Finance at University of Exeter - current 1st class
# Summer 2010 & 2011: Accountant Clerk/Personnel clerk at Guldfågeln, Sweden (largest producer of poultry products in Sweden) - responsible for double-entry bookkeeping system & sole administrator of staff during the summer
# Communications officer of Exeter Finance and Investment Society
# International Baccalaureate - 36 total (mucked up HL maths..)
# Represented Sweden in the World Schools Debating Championship in 2009
# Starting up an online e-commerce business in Exeter summer 2012 (not done yet but will be ready to launch in September)
# Fluent in Swedish, English - conversational level Chinese; i.e. can hold conversations but not read/write or conduct interviews in Chinese
# University of Exeter Business School Ambassador - represent the school at public events
# Exeter Change Agent - responsible for the student involvement in the development of Exeter's new surface tables (computer tables)
# Summer Intern 2012 at M&A, Corp Finance boutique with offices in Sweden & London: awarded Best M&A and Corp Finance boutique three years running (prefer to leave out the name) - involved in the due diligence process of one transaction and also conducting market research for a large PE firm which

Sorry about the poor structure of the CV summary:smile:

Does anyone have any ideas on how I could improve my employability skills before summer internships deadlines start closing in?

Would also very much like to know which banks I would even stand a chance at if I'd like to do Investment Banking, M&A or Corporate Finance (or similar). I know Citi is taking on Exeter students but what type of chances would I have getting something at GS, JP or Morgan Stanley assuming that I don't utilize any contacts? Completely unrealistic or plausible?
Hey, I'm end of year 13 and wondering if this is ok at this point.
Work experience so far: none but will aim to get some spring week/internships etc
A-levels: A*A*A*A (maths, further maths, physics, classics) - assume I get this.
University: Cambridge or Durham

If Durham what are my chances like? Realistically?
Reply 2551
Original post by maths134
Hey, I'm end of year 13 and wondering if this is ok at this point.
Work experience so far: none but will aim to get some spring week/internships etc
A-levels: A*A*A*A (maths, further maths, physics, classics) - assume I get this.
University: Cambridge or Durham

If Durham what are my chances like? Realistically?


Question: Why are there pictures of half naked men in your sig?
Original post by SW1X
Question: Why are there pictures of half naked men in your sig?


lol oh why not? and probably should have stated my degree is Mathematics.
No F.Maths, will this effect me?
If you plan on doing a Non-Finance degree

will that put you at a disadvantage as you wont be able to answer Finance related question in Interviews ?
Original post by Thomassss
If you plan on doing a Non-Finance degree

will that put you at a disadvantage as you wont be able to answer Finance related question in Interviews ?


Doing a non-finance degree doesn't stop you doing your research about the industry and your particular division. It's only very technical questions, which may be problematic and that is division dependent.
Original post by multiplexing-gamer
No F.Maths, will this effect me?


No. Unless you plan to apply to structuring, quantitative analyst roles etc.
Original post by Tsunami2011
Doing a non-finance degree doesn't stop you doing your research about the industry and your particular division. It's only very technical questions, which may be problematic and that is division dependent.


Thanks for the reply.

So the sort of questions asked are quite general and dont require you to explain stuff you learn in lectures ?

someone said to me you will only be tested on commercial awareness the other skills they teach you, is that true ?
Original post by Thomassss
If you plan on doing a Non-Finance degree

will that put you at a disadvantage as you wont be able to answer Finance related question in Interviews ?


Very few degrees teach you the technicals anyway.
Original post by Industrious Orca
Very few degrees teach you the technicals anyway.


For example,
I have no idea how to answer these questions off wikijob

How would you calculate a firm's WACC? What would you use it for?
How do you calculate the firm value for the following firm?
What would greater impact a firms valuation, a 10% reduction in revenues or 1% reduction in discount rate?
What major factors affect the yield on a corporate bond?
Walk me through the major line items of a Cash Flow Statement
(edited 11 years ago)

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