Can I become a investment banker with a business degree?
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Original post by hannahc28
Ive done 2 weeks at deutsche bank and going back for another in the summer, as they asked me back again. Firstly I must say that the most important thing to get into IB is most definitely the contacts you have and work experience!
Of course they want someone with mathematical knowledge, but this is not completely necessary as they teach you loads of stuff during your first year in IB, like sending you on courses etc.
Another thing is do not think that IB have set hours, they most certainly dont! The last time I was their, there were a couple of people that hadnt been home so they had worked from 8am on the tuesday and went home at 11am the wednesday, and might i add this wasnt just a one off.
IB is very varied in the amount of roles you can do, but you really need to look into the possibilities, to make sure you choose the right roll for you.
The people I met, knew exactly what their role was, and also what everyone elses in their departments involved. They were all pleasant people considering the crazy hours they have to work.
Personally, I think, the most important things you need to be are motivated, good communications, and have good time management including meeting deadlines.
You also have to be able to get along with everyone you work with, not only because you are in the office for long hours but also because you dont know who has an influence on getting you fired etc, people throughout the entire bank talk, and if they feel you arent up to it you'll be gone
Oh and I also spoke about Unis the last time I was there, obvs if you go to a top one it adds to your CV, they do look down on low/'rubbish' unis, but if you go to an average one they dont really take it into consideration, like i plan to go portsmouth and they said that'll be good - im doing european business w/german
So to be honest I would stick to the business degree if its what you want to do, for one you will more likely get higher like a first as you enjoy it and also, you are paying a high price, and going to have to spend the next four years doing it!
Of course they want someone with mathematical knowledge, but this is not completely necessary as they teach you loads of stuff during your first year in IB, like sending you on courses etc.
Another thing is do not think that IB have set hours, they most certainly dont! The last time I was their, there were a couple of people that hadnt been home so they had worked from 8am on the tuesday and went home at 11am the wednesday, and might i add this wasnt just a one off.
IB is very varied in the amount of roles you can do, but you really need to look into the possibilities, to make sure you choose the right roll for you.
The people I met, knew exactly what their role was, and also what everyone elses in their departments involved. They were all pleasant people considering the crazy hours they have to work.
Personally, I think, the most important things you need to be are motivated, good communications, and have good time management including meeting deadlines.
You also have to be able to get along with everyone you work with, not only because you are in the office for long hours but also because you dont know who has an influence on getting you fired etc, people throughout the entire bank talk, and if they feel you arent up to it you'll be gone
Oh and I also spoke about Unis the last time I was there, obvs if you go to a top one it adds to your CV, they do look down on low/'rubbish' unis, but if you go to an average one they dont really take it into consideration, like i plan to go portsmouth and they said that'll be good - im doing european business w/german
So to be honest I would stick to the business degree if its what you want to do, for one you will more likely get higher like a first as you enjoy it and also, you are paying a high price, and going to have to spend the next four years doing it!
That's a really useful post. It's great to get people's views about what life is like working in finance.
I was shown this thread by a student hoping to get into IB, and the untruths being spouted compelled me to sign up and comment.
I've been in IB for the past 4 years, having graduated with a 2:1 MA Business & Management from the University of Glasgow. I knew IB was the field I wanted to be in, so I continued study with an MSc in Finance from the same University. Along with that I managed to get an internship in my final year with BTMU. Following this I entered a graduate scheme with Standard Chartered in Singapore and now work at FO with Morgan Stanley.
First off, investment banking hires across ALL subject fields. The myth that your degree must be numerical (and the extent of mathematics apparently used) is amusing. In reality, careers in investment banking require very good mental arithmetic, and an ability to interpret percentages, graphs, spreadsheets and other forms of numerical based data. That's it.
If you're from a well-respected UK university, hold a good mark, and can demonstrate a genuine desire to work in the industry - you stand a chance. We have a graduate starting in September who achieved a first class in history from Southampton. Did he do anything numerical or quantitative at university? No. Did he impress at the competency & aptitude tests, interviews, group discussions and presentations? He stood out amongst the crowd that included many UCL, LSE & Warwick grads.
The technical knowledge you are required to demonstrate in the interview process is not difficult to obtain, yet you'd be amazed at the number of graduates from degrees such as economics and accounting who couldn't tell you what is meant by an IPO and underwriting, what was happening in the financial markets at present, and what current global business stories interested them... This all contributes to one of the major factors taken into account when recruiting graduates, how much do they really want this? Your technical knowledge contributes greatly to this, as does your performance at assessment centres. Don't just assume that because you achieved a high grade from a prestigious university that the red carpet is going to be rolled out for you. It means nothing with regards to how you'll perform in the work environment. Complacency is a huge barrier to entry into IB for many top graduates (on paper).
Anyway, I'm digressing, and this is just an example. To sum up, work your arse off to stand out and you'll be rewarded; try not to be distracted by scaremongering from people delivering 'harsh' realities, the irony being that these people have yet to live reality - no one who has would demonstrate such naivety.
I've been in IB for the past 4 years, having graduated with a 2:1 MA Business & Management from the University of Glasgow. I knew IB was the field I wanted to be in, so I continued study with an MSc in Finance from the same University. Along with that I managed to get an internship in my final year with BTMU. Following this I entered a graduate scheme with Standard Chartered in Singapore and now work at FO with Morgan Stanley.
First off, investment banking hires across ALL subject fields. The myth that your degree must be numerical (and the extent of mathematics apparently used) is amusing. In reality, careers in investment banking require very good mental arithmetic, and an ability to interpret percentages, graphs, spreadsheets and other forms of numerical based data. That's it.
If you're from a well-respected UK university, hold a good mark, and can demonstrate a genuine desire to work in the industry - you stand a chance. We have a graduate starting in September who achieved a first class in history from Southampton. Did he do anything numerical or quantitative at university? No. Did he impress at the competency & aptitude tests, interviews, group discussions and presentations? He stood out amongst the crowd that included many UCL, LSE & Warwick grads.
The technical knowledge you are required to demonstrate in the interview process is not difficult to obtain, yet you'd be amazed at the number of graduates from degrees such as economics and accounting who couldn't tell you what is meant by an IPO and underwriting, what was happening in the financial markets at present, and what current global business stories interested them... This all contributes to one of the major factors taken into account when recruiting graduates, how much do they really want this? Your technical knowledge contributes greatly to this, as does your performance at assessment centres. Don't just assume that because you achieved a high grade from a prestigious university that the red carpet is going to be rolled out for you. It means nothing with regards to how you'll perform in the work environment. Complacency is a huge barrier to entry into IB for many top graduates (on paper).
Anyway, I'm digressing, and this is just an example. To sum up, work your arse off to stand out and you'll be rewarded; try not to be distracted by scaremongering from people delivering 'harsh' realities, the irony being that these people have yet to live reality - no one who has would demonstrate such naivety.
Original post by Talisker
I was shown this thread by a student hoping to get into IB, and the untruths being spouted compelled me to sign up and comment.
I've been in IB for the past 4 years, having graduated with a 2:1 MA Business & Management from the University of Glasgow. I knew IB was the field I wanted to be in, so I continued study with an MSc in Finance from the same University. Along with that I managed to get an internship in my final year with BTMU. Following this I entered a graduate scheme with Standard Chartered in Singapore and now work at FO with Morgan Stanley.
First off, investment banking hires across ALL subject fields. The myth that your degree must be numerical (and the extent of mathematics apparently used) is amusing. In reality, careers in investment banking require very good mental arithmetic, and an ability to interpret percentages, graphs, spreadsheets and other forms of numerical based data. That's it.
If you're from a well-respected UK university, hold a good mark, and can demonstrate a genuine desire to work in the industry - you stand a chance. We have a graduate starting in September who achieved a first class in history from Southampton. Did he do anything numerical or quantitative at university? No. Did he impress at the competency & aptitude tests, interviews, group discussions and presentations? He stood out amongst the crowd that included many UCL, LSE & Warwick grads.
The technical knowledge you are required to demonstrate in the interview process is not difficult to obtain, yet you'd be amazed at the number of graduates from degrees such as economics and accounting who couldn't tell you what is meant by an IPO and underwriting, what was happening in the financial markets at present, and what current global business stories interested them... This all contributes to one of the major factors taken into account when recruiting graduates, how much do they really want this? Your technical knowledge contributes greatly to this, as does your performance at assessment centres. Don't just assume that because you achieved a high grade from a prestigious university that the red carpet is going to be rolled out for you. It means nothing with regards to how you'll perform in the work environment. Complacency is a huge barrier to entry into IB for many top graduates (on paper).
Anyway, I'm digressing, and this is just an example. To sum up, work your arse off to stand out and you'll be rewarded; try not to be distracted by scaremongering from people delivering 'harsh' realities, the irony being that these people have yet to live reality - no one who has would demonstrate such naivety.
I've been in IB for the past 4 years, having graduated with a 2:1 MA Business & Management from the University of Glasgow. I knew IB was the field I wanted to be in, so I continued study with an MSc in Finance from the same University. Along with that I managed to get an internship in my final year with BTMU. Following this I entered a graduate scheme with Standard Chartered in Singapore and now work at FO with Morgan Stanley.
First off, investment banking hires across ALL subject fields. The myth that your degree must be numerical (and the extent of mathematics apparently used) is amusing. In reality, careers in investment banking require very good mental arithmetic, and an ability to interpret percentages, graphs, spreadsheets and other forms of numerical based data. That's it.
If you're from a well-respected UK university, hold a good mark, and can demonstrate a genuine desire to work in the industry - you stand a chance. We have a graduate starting in September who achieved a first class in history from Southampton. Did he do anything numerical or quantitative at university? No. Did he impress at the competency & aptitude tests, interviews, group discussions and presentations? He stood out amongst the crowd that included many UCL, LSE & Warwick grads.
The technical knowledge you are required to demonstrate in the interview process is not difficult to obtain, yet you'd be amazed at the number of graduates from degrees such as economics and accounting who couldn't tell you what is meant by an IPO and underwriting, what was happening in the financial markets at present, and what current global business stories interested them... This all contributes to one of the major factors taken into account when recruiting graduates, how much do they really want this? Your technical knowledge contributes greatly to this, as does your performance at assessment centres. Don't just assume that because you achieved a high grade from a prestigious university that the red carpet is going to be rolled out for you. It means nothing with regards to how you'll perform in the work environment. Complacency is a huge barrier to entry into IB for many top graduates (on paper).
Anyway, I'm digressing, and this is just an example. To sum up, work your arse off to stand out and you'll be rewarded; try not to be distracted by scaremongering from people delivering 'harsh' realities, the irony being that these people have yet to live reality - no one who has would demonstrate such naivety.
I've been working in FO for about 3 years now, and I think the above post is fair but requires an advisory warning.
If you want to work in a top 5-10 ranked IB in FO straight after graduation, you either need to stand out in an extraordinary manner (something on par with interning at a hedge fund or running a successful business part time at uni), have top level contacts, or go to one of the aforementioned unis (Oxbridge, London trio, Warwick, and possibly Durham). In the ultracompetitive modern environment this is the make up of 95%+ of graduate entrants.
However, if you go to a 'lower' but still solid uni (say Sheffield or Glasgow) you can still end up working for a decent IB in FO eventually - you may just have to begin your career at somewhere outside GS/JPM. The Japanese, Canadian, and Chinese banks (e.g. BTMU, RBC, Standard Chartered) are good examples. Once you're in the industry, if you're good at your job or good at self-promotion (preferably both), you can have your pick of banks when hopping around.
A business degree is unlikely to get you onto a trading desk at top banks but is perfectly adequate for sales and M&A, especially if it includes some accountancy. At mid/lower tier banks, it'll probably suffice even for non-derivative trading jobs.
Finally I have to reiterate that it is TOUGH to get a job in the industry in the current environment even if you do tick all the right boxes. I have a mate who graduated in Maths from Cambridge for undergrad, top of his year at Warwick statistics for his masters, and worked for a year in UBS FI trading before their massive downsize. He's been struggling to get back in for 6 months now. These are the kinds of people that you may realistically be competing against in today's 'graduate' pools.
Original post by CoolStoryBroo
Uh-huh, sounds fascinating you should write a novel.
am i sensing some sarcasm here? :')
Original post by hannahc28
Ive done 2 weeks at deutsche bank and going back for another in the summer, as they asked me back again. Firstly I must say that the most important thing to get into IB is most definitely the contacts you have and work experience!
Of course they want someone with mathematical knowledge, but this is not completely necessary as they teach you loads of stuff during your first year in IB, like sending you on courses etc.
Another thing is do not think that IB have set hours, they most certainly dont! The last time I was their, there were a couple of people that hadnt been home so they had worked from 8am on the tuesday and went home at 11am the wednesday, and might i add this wasnt just a one off.
IB is very varied in the amount of roles you can do, but you really need to look into the possibilities, to make sure you choose the right roll for you.
The people I met, knew exactly what their role was, and also what everyone elses in their departments involved. They were all pleasant people considering the crazy hours they have to work.
Personally, I think, the most important things you need to be are motivated, good communications, and have good time management including meeting deadlines.
You also have to be able to get along with everyone you work with, not only because you are in the office for long hours but also because you dont know who has an influence on getting you fired etc, people throughout the entire bank talk, and if they feel you arent up to it you'll be gone
Oh and I also spoke about Unis the last time I was there, obvs if you go to a top one it adds to your CV, they do look down on low/'rubbish' unis, but if you go to an average one they dont really take it into consideration, like i plan to go portsmouth and they said that'll be good - im doing european business w/german
So to be honest I would stick to the business degree if its what you want to do, for one you will more likely get higher like a first as you enjoy it and also, you are paying a high price, and going to have to spend the next four years doing it!
Of course they want someone with mathematical knowledge, but this is not completely necessary as they teach you loads of stuff during your first year in IB, like sending you on courses etc.
Another thing is do not think that IB have set hours, they most certainly dont! The last time I was their, there were a couple of people that hadnt been home so they had worked from 8am on the tuesday and went home at 11am the wednesday, and might i add this wasnt just a one off.
IB is very varied in the amount of roles you can do, but you really need to look into the possibilities, to make sure you choose the right roll for you.
The people I met, knew exactly what their role was, and also what everyone elses in their departments involved. They were all pleasant people considering the crazy hours they have to work.
Personally, I think, the most important things you need to be are motivated, good communications, and have good time management including meeting deadlines.
You also have to be able to get along with everyone you work with, not only because you are in the office for long hours but also because you dont know who has an influence on getting you fired etc, people throughout the entire bank talk, and if they feel you arent up to it you'll be gone
Oh and I also spoke about Unis the last time I was there, obvs if you go to a top one it adds to your CV, they do look down on low/'rubbish' unis, but if you go to an average one they dont really take it into consideration, like i plan to go portsmouth and they said that'll be good - im doing european business w/german
So to be honest I would stick to the business degree if its what you want to do, for one you will more likely get higher like a first as you enjoy it and also, you are paying a high price, and going to have to spend the next four years doing it!
since when is portsmouth average??
Original post by moritzplatz
since when is portsmouth average??
Are you daring Portsmouth is higher or lower than average?
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Original post by moritzplatz
since when is portsmouth average??
Sorry didn't mean to say Portsmouth is average, I loved Portsmouth! hopefully i'll be there in September, personally I think its great that's just how some people at my school said it was :/ I didn't believe them tho :P sorry if I put it across wrong, didn't mean to!
Original post by GemmaSmith
Are you daring Portsmouth is higher or lower than average?
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This was posted from The Student Room's iPhone/iPad App
ahah won't say now!
Original post by james2557
Would i be able to get in to IB with a degree in 'International Business, Finance & Economics' from Manchester?
Thats my firm and Economics BA is insurance
Thats my firm and Economics BA is insurance
Personally, I think you would, you just need to make sure you do as well as you can in it like aim for a first or 2:1. Also when your at uni try and get some work experience, like even adding an extra year doing a work placement after your second year. This will help you get contacts, which is what helps to get into IB later. Also when you choose your electives, direct them at the section in IB you hope to work in, also languages do help, as banks are a worldwide business, and you would probably have to travel at some point anyway :P
Hope this helps!
Original post by GemmaSmith
You'll say you need economics but I'm told BA economics is no good either you need BsC. I don't have the maths a level required by nearly all for BsC economics..
Will I be able to change to economics after first year or anything?
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Will I be able to change to economics after first year or anything?
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Piss off. I've got a 2.1 in BA honours in economics and finance. Did you know that medicine in Cambridge is a BA hons and not a BSc
(edited 10 years ago)
Original post by mangamaan
Piss off. I've got a 2.1 in BA honours in economics and finance. Did you know that medicine in Cambridge is a BA hons and not a BSc
...a better example to use would've been Physics, Biology, Chemistry or Maths.
Original post by Llamageddon
Medicine is not a standard bachelors degree. I would be highly surprised if there was anywhere in the UK where you could get either a BSc or a BA honors in the subject.
...a better example to use would've been Physics, Biology, Chemistry or Maths.
...a better example to use would've been Physics, Biology, Chemistry or Maths.
There is
There is BSc in medicine. Go look it up smart arseho
Original post by GemmaSmith
Offers from Sheffield Liverpool UEA and Glasgow (4 year)
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This was posted from The Student Room's iPhone/iPad App
you should be fine tbh I would pick Sheffield or Glasgow and make sure you do year in industry!!!Glasgow is more reputed I think. anyway I am also looking into investment banking but through the computer science and management route at kings college. so yeah don't stress over it most of the time its about experience so get lots of it!!!!!!!!!!
Original post by kingmango
If I were to get into one of the top universities, but I did an Accounting and Finance degree, would the top banks still be interested? I'm not sure on whether applying for a more pure maths degree?
Truthful answers would be appreciated, no matter how harsh they are
Truthful answers would be appreciated, no matter how harsh they are
Either will be fine. You won't be any more advantaged or disadvantaged doing one or the other. They will care more about your university, you as a person, your experiences, extra-curricular, societies, leadership, voluntary work, your interests/motivations, any internships/work experience etc...
A lot of positions won't require that high level maths and most will be taught to you. But if you're looking to be a quant, or to go into a highly technical position like that or do something mathematical in terms of a Masters/PhD then go for Maths, but otherwise it makes no difference.
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(edited 10 years ago)
Original post by mangamaan
There is
There is BSc in medicine. Go look it up smart arseho
There is BSc in medicine. Go look it up smart arseho
You can get a BSc in Medical Science, Biomedical Science, intercalated degrees taken as part of your degree...
but afaik not a single British institution offers a BSc in Medicine.
Obviously this makes no difference to the thread as it is not about Medicine. I'm just informing you that you are wrong.
Original post by Llamageddon
MBBCh, MBBS, MBChB, BMBS, BM...
You can get a BSc in Medical Science, Biomedical Science, intercalated degrees taken as part of your degree...
but afaik not a single British institution offers a BSc in Medicine.
Obviously this makes no difference to the thread as it is not about Medicine. I'm just informing you that you are wrong.
You can get a BSc in Medical Science, Biomedical Science, intercalated degrees taken as part of your degree...
but afaik not a single British institution offers a BSc in Medicine.
Obviously this makes no difference to the thread as it is not about Medicine. I'm just informing you that you are wrong.
What is this then? http://www1.imperial.ac.uk/medicine/teaching/undergraduate/mbbsbscmedicine/ MBBS/BSc Medicine at Imperial College London
Original post by mangamaan
What is this then? http://www1.imperial.ac.uk/medicine/teaching/undergraduate/mbbsbscmedicine/ MBBS/BSc Medicine at Imperial College London
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