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Can I become a investment banker with a business degree?

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Original post by GemmaSmith
Why do you make it sound like its am awful uni?


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The guy above doesn't mean it's an awful uni. It's a good uni. The problem with investment banking is that they only recruit front office candidates from certain 'target' universities, there is about six of them in this country and that isn't one of them.

In saying that, I would echo what is said above and that is if you really want this, just try your best to get a first, do lots of ECs (finance related), show an interest, maybe even learn or do some trading yourself? Maybe get a Masters from a target later on. In the current climate, front office is probably going to be nearly impossible, unless you really work for it like crazy, you might be able to network in or something. Personally though, I'd say you'd be more likely able to secure a middle-office or a back-office role, you might even prefer it! I think that would be a lot more realistic, look around and do some research and see what you think. Also, apply to any banks that do pre-university programmes if you're not already there and apply for internships front/middle/back office, choose where you really want to be and go for it, work hard for it (bearing in mind front office is unlikely). You might want to also look at smaller banks.
Whatever you try and do in this industry it will be hard, especially in this climate. You have to really want it and fight for it.
As for the whole Business degree thing I have no idea. The university carries more weight than the degree, just pick quantitative modules.
Reply 61
I think I like the idea of working in a bank generally or similar a job at a big brand company. I do some trading now, forex and futures and currently I'm in profit :P. But I understand, tbh I think i'll be more suited for a job at somewhere like unilever or something.


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Reply 62
Original post by will2348
The guy above doesn't mean it's an awful uni. It's a good uni. The problem with investment banking is that they only recruit front office candidates from certain 'target' universities, there is about six of them in this country and that isn't one of them.


Bull****
Reply 63
Original post by Mirey
Bull****


It's not a good uni?


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Reply 64
Original post by GemmaSmith
It's not a good uni?


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They're all decent uni's (UEA is quesitonable - though I'm biased against it), though none will be seen as the top. What is the top is subjective anyway, and it's mainly about prestige rather than how good the courses are. I'm sure the courses at Sheffield, Liverpool and Glasgow are as good as most tbh.

I was calling bull**** on firms only hiring from certain universities. Very few firms are pricks*, but most aren't. Though going to a none top uni will mean it would help a lot more if you got a first - since most uni's ensure the avg mark for units is between 55 and 65. (and hence easier to get a first at a uni with less academic people)

*I say pricks because it is a dick thing to do. It'd be a company I wouldn't want to work for because they'd likely have a superiority complex about them.

You're going to be working with these people for 7+ hours a day - you've got to make sure you'll get on with them
(edited 11 years ago)
Reply 65
Oh right! Okay thank you yeah I'm going to try hard for the first, what is it mark wise to get a first and a 2:1?


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Reply 66
Yes.
Reply 67
Original post by GemmaSmith
Oh right! Okay thank you yeah I'm going to try hard for the first, what is it mark wise to get a first and a 2:1?


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2:1 = 60
1 = 70
Original post by Mirey
They're all decent uni's (UEA is quesitonable - though I'm biased against it), though none will be seen as the top. What is the top is subjective anyway, and it's mainly about prestige rather than how good the courses are. I'm sure the courses at Sheffield, Liverpool and Glasgow are as good as most tbh.

I was calling bull**** on firms only hiring from certain universities. Very few firms are pricks*, but most aren't. Though going to a none top uni will mean it would help a lot more if you got a first - since most uni's ensure the avg mark for units is between 55 and 65. (and hence easier to get a first at a uni with less academic people)

*I say pricks because it is a dick thing to do. It'd be a company I wouldn't want to work for because they'd likely have a superiority complex about them.

You're going to be working with these people for 7+ hours a day - you've got to make sure you'll get on with them


In investment banking, you'll be working with them for anything from 60 to 100+ hours a week just so you're aware.
Reply 69
Original post by will2348
In investment banking, you'll be working with them for anything from 60 to 100+ hours a week just so you're aware.


Yep, a friend who lived next to me during my internship was in IB. He would get to work at about 9am, and wouldn't get home until at least 1am, normally around 2 or 3.

Sounds like a great life :P
Reply 70
Original post by will2348
In investment banking, you'll be working with them for anything from 60 to 100+ hours a week just so you're aware.


So I've looked at a few of your posts. You're obsessed with this notion of "top university", yet you're only doing your A2s at the moment.

HR look for more than just university. Of course there are going to be a lot more people in banking who have gone to top universities, because in general they are smarter (which is why they're there). But, it's still based on the individuals merit.

Also, you talked about having to get good GCSEs when moving from an IB to a hedge fund. Do you honestly think someone managing one of these funds is going to give a crap about some crappy qualification you did 10+ years previous? No, they're going to care how good you are at your job. Your degree becomes almost superfluous as soon as you graduate and get a job.
Reply 71
Is an accounting and financial management a good degree to do if I want to become an investment banker? Also does the uni you go to affect your chances of becoming an IB?
No, but you need top GCSEs to move to IB in order to move to Hedge Funds later.

I don't really care what you think of my 'notion', I'm only trying to help and saying it as it is. :smile:

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you can get into sales
Reply 74
You need a Maths literate degree because you need to be able to interpret the differential and integral algorithms used in the prediction of financial markets. Therefore it would depend on whether your degree involves maths as to whether banking is viable.
Original post by Goods
You need a Maths literate degree because you need to be able to interpret the differential and integral algorithms used in the prediction of financial markets. Therefore it would depend on whether your degree involves maths as to whether banking is viable.

investment banking has many different roles
Original post by Mirey

HR look for more than just university. Of course there are going to be a lot more people in banking who have gone to top universities, because in general they are smarter (which is why they're there). But, it's still based on the individuals merit.

Also, you talked about having to get good GCSEs when moving from an IB to a hedge fund. Do you honestly think someone managing one of these funds is going to give a crap about some crappy qualification you did 10+ years previous? No, they're going to care how good you are at your job. Your degree becomes almost superfluous as soon as you graduate and get a job.


You're right that HR look for a variety of things, but university provides are very quick criteria through which to eliminate some of the thousands of applications they have to get through. Don't forget also, that you're not just competing for jobs with UK graduates, you're competing against all the top European schools. So university is very important as a means of getting yourself past HR checks.

And I think his point about GCSEs was more about the chain of events that lead to the hedge fund job. You need good grades for a good university, good university for a good job, good job for a better job. Obviously this isn't the only route to the destination, but it's a common one and so while the fund manager might not care about your GCSEs, he will care about your background which is in part a function of your GCSEs. I'll admit, it's all very tenuous, but it's a widely observed phenomenon.
Reply 77
Original post by MinorityInterest
You're right that HR look for a variety of things, but university provides are very quick criteria through which to eliminate some of the thousands of applications they have to get through. Don't forget also, that you're not just competing for jobs with UK graduates, you're competing against all the top European schools. So university is very important as a means of getting yourself past HR checks.

And I think his point about GCSEs was more about the chain of events that lead to the hedge fund job. You need good grades for a good university, good university for a good job, good job for a better job. Obviously this isn't the only route to the destination, but it's a common one and so while the fund manager might not care about your GCSEs, he will care about your background which is in part a function of your GCSEs. I'll admit, it's all very tenuous, but it's a widely observed phenomenon.


I don't think I've seen a single application, both for Internships and full time grad jobs that have asked for GCSEs (except the big 4, oddly)

Maybe spring weeks, I can see them being partially relevant, then as you won't have any grades back from uni.

They might be around on spring weeks, I never applied to one.
Reply 78
Original post by moritzplatz
investment banking has many different roles


all of which require you to be maths literate and be able to understand the aforementioned algorithms and models.
Original post by Goods
all of which require you to be maths literate and be able to understand the aforementioned algorithms and models.

there is a difference between being maths literate and having done a degree which requires heavy maths.

also, i am pretty sure most investment banker have no idea of how and why the Black scholes model works
(edited 11 years ago)

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