Do you have to go to the top 20 universities to be a investment banker?

This more recent article suggests LSE gives a serious leg up into IB:

http://news.students.efinancialcareers.co.uk/newsandviews_item/newsItemId-29203

True that, but at least they're trying to be humble about it

"But one LSE student who has secured an investment banking position says that, while the school's prestige and networking opportunities offer an advantage over most universities, it's largely on a par with Oxbridge, UCL, Imperial and Warwick. "

Yep, he is being humble, but LSE gives a severe leg up for IB only matched by Oxbridge due to its historic reputation, quality of students, focus and location.

I think we've had debates about this before, and though I fully agree, are you even a university student? I ask this only because I have aksed multiple times and you seemed to avoid the answer before, if so, then I apologise for the implications on your opinions

Yes, I am a student and try and be very unbiased about my opinions. The latter is the point that needs to be focused on.

It just seemed like other posts you've made about the subject, you said the article makes a very strong case for LSE, when actually it made a strong case for all the top 6. LSE got an obvious mention as it always does, but I dont think anyone has ever debated LSEs standing amoungst IB employers

You are correct that the article gave a strong case for 6 universities (Oxbridge, LSE, Imperial, UCL and Warwick) and had a special mention for another 6 (KCL, Bristol, Nottingham, Manchester, Bath and Edinburgh), but it also said:

"LSE is best almost by a happy accident, and not necessarily just because of the calibre of students," he claims. "The university has close ties to the City and pushes its students towards a career in finance, while Oxbridge colleges are more generalist. There's also the fact that the subjects are more quantitative and the opportunity for networking with traders, sales people and bankers much greater because they're in the same city."

It is suggesting LSE is even better than Oxbridge for IB jobs but I somehow struggle to believe. I think those are the Top 3 anyway.

Yes there is a high correlation between the top 10 unis and investment banking however don't count even non top 20 uni's out.

I met someone at a Barclays Capital recruitment evening in September who went to the same university I just graduated from - Heriot-Watt in Edinburgh. He started working in BarCap in 2008 immediately after graduating. Don't forget this was during the recession. Of course Lehman Bros collapsed after he started but landing a FO grad job at a BB is impressive after graduating from a university that has only this year broke the top 25.

I also have a friend who has landed a FO summer internship at JP Morgan - he too is at Heriot Watt.

The key? Get involved and get good grades.

I do disagree with the way the 'system' is set up. So unless you know you want to be a banker before you apply to uni you could end up disadvantaged. There is even the argument that banks are taking the smartest and brightest - those that could go on to be excellent doctors/engineers/physicists etc... The high starting salaries are just too tempting and let's be honest - the work at an IB does not require as much intelligence as say being a doctor etc... At the same BarCap event I met someone in his final year of Vet School and he no longer wanted to be a vet - he wanted to be a banker.

It actually amazes me how well that uni does; i see Heriot-Watt people at days/events quite often and they do so much better than unis round the same area of league tables etc.

One question. Why why and why. Why would all of you, or all those who go to IB want to waste 10 years of their life by being slaves with no free-time (nor sleep-time) and then be sitting at home with so much money that you don't even know what the heck to do with your life? The only people you will know at the age of 30 (at retirement) are your business contacts and those relatives who haven't given up getting in touch with you through the past decade.

All these talented people who get into these top schools should use their knowledge for something more interesting and maybe more exciting. It's money that makes them blind...but is a life of an IB banker worthwhile? even after retirement...Also, retirement is not that easy when you gotta choose between retirement or accepting your next promotion with a million dollar salary. So at the age of 30, you either become a slave for another 10 years or start living a life I described above.

Or, you get lucky, and have an awesome life.

10 Years? You're very optimistic most people quit/resign after 2-3 years.

Very few of my friends from 08/09 grad classes are still around and it happens year on year on year. 2 years and most people move on. Many leave finance altogether and do something else. Very very few people stay in the industry for long.

10 Years? You're very optimistic most people quit/resign after 2-3 years.

Very few of my friends from 08/09 grad classes are still around and it happens year on year on year. 2 years and most people move on. Many leave finance altogether and do something else. Very very few people stay in the industry for long.

Would they have much money built up to do something with?
Im guessing other companies would like IB on the CV?

Is that for IDB? Or S&t? I'm guessing the former.

Other companies do. Head of strategy at Gucci regularly hires people from Goldman/McK as an example. It ultimately depends on what you want to do. It'll help but IB is not the only path to glory and this comes from many discussions I've had with CEOs of boutique houses or head traders/sales people. Many favour the entrepreneurial route which I suspect is why a few members of this forum are now running their own shop.