How to become a wealthy Investment Banker?

I research equities, build models and then write bull/sell recommendations on them. Portfolio manager will decide how to change the portfolio based on the report and then traders will execute on those decisions. I'm a hedgefund analyst, analysts in other parts of finance are going to do completely different stuff.

Would you say that only graduates from top places have a chance? I'm studying computer science at RHUL from the autumn, but I am also continuing my study of mathematics beyond my current 'Further Maths' level of understanding (partial differentiation, linear algebra, theoretical statistics), so that I can hopefully get onto a good masters course in the field.

I guess I am asking whether you think that if I get a BSc at RHUL, and a MSc at a higher-ranked place (possibly Oxford), if I would have a realistic chance of getting into an 'algorithmic trading' position. I'm hoping that quant recruitment focuses a little more on skills and ability than having studied XYZ, just so long as it was at a good university, as is the case for IB.

Yes, it is more focused on skills but, pointing out the obvious, there's generally going to be a big difference in how good maths students at COWI are vs. other universities. That said, unless you just want to be essentially a programmer, you're going to need a PhD (particularly coming from RHUL) for the more interesting Quant/Strat (FO) roles. I recently got to the final round with an IB to be a Quant Strat (within credit trading) and all four people who interviewed me in the final round asked me why they should take me on without a PhD when everyone else on their desk has one - they were also massively interested to know what I've been taught so far, what options I take etc. and the reality is if the level/depth of mathematical education they're used to is Oxbridge/Warwick/Imperial, you would potentially struggle to impress with RHUL's undergraduate course (so while investment banking in general care a lot about university prestige, the impression I got throughout the Strat recruitment process was they care a lot about how good your mathematics department is).

I would say that it's difficult to know what you want to do within finance before starting university. To be a quant you have to be very good - and you're not going to know that at this point (and by very good, I mean good by COWI standards). Before I started university I thought I wanted to be a Quant, that very quickly changed to trading. Most Quant roles aren't that interesting, generally require a higher level of education than trading, but don't pay as much. I think the only entry Quant role that seems interesting is Strating, sat on a trading desk - but the only two IBs that operate like that are GS and MS, and these roles are very difficult to land out of undergrad (even at Oxbridge) and only form a small section of the Quant departments at GS/MS (most people are in the more middle-office modelling).

Pretty much what Econight said. Whilst I'm not a hedgefund trader I'm an analyst, which I think is a better job personally, my comp is not that much higher then it was in IBD, which is similar to that of trading. I presume it will rise faster.

Maybe a bit more at analyst level but once you get more experience it will be much higher at a quant fund due to the nature of the fees they collect and the reduction of prop trading at banks; but at a quant fund you will be building models that take advantage of statistical anomalies and looking at pricing action and will be all executed by computers. Google BlueTrend and read up about Leda Braga for starting knowledge.

Would you say that only graduates from top places have a chance? I'm studying computer science at RHUL from the autumn, but I am also continuing my study of mathematics beyond my current 'Further Maths' level of understanding (partial differentiation, linear algebra, theoretical statistics), so that I can hopefully get onto a good masters course in the field.

I guess I am asking whether you think that if I get a BSc at RHUL, and a MSc at a higher-ranked place (possibly Oxford), if I would have a realistic chance of getting into an 'algorithmic trading' position. I'm hoping that quant recruitment focuses a little more on skills and ability than having studied XYZ, just so long as it was at a good university, as is the case for IB.

rhul?? and you're looking at quant recruitment? LOL good luck, you're going to need it.