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Investment Banker/Trader/Accountant

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Original post by jakepds
How about before interview, is a physics degree as good as a mech eng


Yeah as long as it is at a target/semi-target. It doesn't really matter.
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Original post by Trapz99
Yeah as long as it is at a target/semi-target. It doesn't really matter.


Is Durham in the Target or Semi-Target camp, I have heard it mentioned in both?
Original post by jakepds
Is Durham in the Target or Semi-Target camp, I have heard it mentioned in both?


It is a semi target, so you can still get into banking if you have great extra curricular activities and leadership experience and get a 2:1 or first class degree.
Original post by jakepds
How about before interview, is a physics degree as good as a mech eng


Yes

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Original post by Trapz99
It is a semi target, so you can still get into banking if you have great extra curricular activities and leadership experience and get a 2:1 or first class degree.


Nothing against you, but the term "great extracurriculars" sounds unbelievably vague, is there any way that you could clarify? Cheers
Original post by jakepds
Nothing against you, but the term "great extracurriculars" sounds unbelievably vague, is there any way that you could clarify? Cheers


By great extracurriculars I mean stuff you do outside university/school, such as sports (being in the first team), volunteering (raising a large amount of funds for a charity, running a marathon), music (learning an instrument and playing for a band), drama (performing in school plays/ university drama society) and duke of Edinburgh award. Also, senior positions such as committee member of a society or president of one.
Avoid doing a degree in economics. Its academically rigirous, yet you can't apply it in the industry. Its absolute garbage in terms of practicality. Ideally I would have done A&F at a strong target if I were in your boots.
Original post by glebp
Avoid doing a degree in economics. Its academically rigirous, yet you can't apply it in the industry. Its absolute garbage in terms of practicality. Ideally I would have done A&F at a strong target if I were in your boots.


'At a strong target' Econ>A&F

BSc Economics is a pretty strong degree.

Okay, you cannot apply economic knowledge to investment banking. But an undergraduate physicist wouldn't be able to apply his knowledge either, this doesn't mean (s)he's less suited to the job.

Level of applicability doesn't really affect graduate prospects (unless doing an MFin).

The main factor is whether it's a target university, and to a lesser extent, how quantitative and rigorous the degree is.
(edited 8 years ago)
If someone does ACA, is there a route into IB?
Also doing ACA without a degree, through a school leaver programme such as that of BDO's Tax programme in M&A, limit your employability?
Original post by coolguy999
If someone does ACA, is there a route into IB?
Also doing ACA without a degree, through a school leaver programme such as that of BDO's Tax programme in M&A, limit your employability?


It most likely would. Banks are quite elitist in the way they do hiring nowadays, I don't think they would consider someone with just an ACA qualification (i.e. without a degree to accompany it) for one of their front office roles.

The best route if you want to take the ACA route is to go to uni, then get on an audit grad scheme at one of the big4 (Deloitte, KPMG, PwC or EY), lateral into their Corporate Finance division (alternatively, you could apply straight away for a place on the CorpFin grad scheme but it's much more competitive than Audit) upon ACA qualification then finally, apply for experienced hire positions in banks (usually in IBD or ER) or private equity firms.

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Original post by Princepieman
It most likely would. Banks are quite elitist in the way they do hiring nowadays, I don't think they would consider someone with just an ACA qualification (i.e. without a degree to accompany it) for one of their front office roles.

The best route if you want to take the ACA route is to go to uni, then get on an audit grad scheme at one of the big4 (Deloitte, KPMG, PwC or EY), lateral into their Corporate Finance division (alternatively, you could apply straight away for a place on the CorpFin grad scheme but it's much more competitive than Audit) upon ACA qualification then finally, apply for experienced hire positions in banks (usually in IBD or ER) or private equity firms.

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Do private equity firms even hire that many people from Big4?
Original post by Terry Tibbs
Do private equity firms even hire that many people from Big4?


They don't hire a lot full stop. But, it's not uncommon to see people with Big4 backgrounds in middle market private equity firms, alongside consultants and former IBD bankers. The 'megafunds' are almost entirely top bankers and consultants.

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Original post by Princepieman
It most likely would. Banks are quite elitist in the way they do hiring nowadays, I don't think they would consider someone with just an ACA qualification (i.e. without a degree to accompany it) for one of their front office roles.

The best route if you want to take the ACA route is to go to uni, then get on an audit grad scheme at one of the big4 (Deloitte, KPMG, PwC or EY), lateral into their Corporate Finance division (alternatively, you could apply straight away for a place on the CorpFin grad scheme but it's much more competitive than Audit) upon ACA qualification then finally, apply for experienced hire positions in banks (usually in IBD or ER) or private equity firms.

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This is where I get slightly confused. To do ACA or CFA, you don't need a specific degree. So you can do a degree in Arts etc. So as people have already said, most of knowledge required in these banks is obtained on the job. Someone who's done ACA or CFA would need to work with a firm, so surely someone with 5 years experience and ACA, is as good as if not better than someone with an Arts background or even Science to a certain extent and ACA. The degree isn't at all relevant in contributing to you knowledge.
Original post by coolguy999
This is where I get slightly confused. To do ACA or CFA, you don't need a specific degree. So you can do a degree in Arts etc. So as people have already said, most of knowledge required in these banks is obtained on the job. Someone who's done ACA or CFA would need to work with a firm, so surely someone with 5 years experience and ACA, is as good as if not better than someone with an Arts background or even Science to a certain extent and ACA. The degree isn't at all relevant in contributing to you knowledge.


That might be the case, but as I said, banks/private equity firms etc are elitist.

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I have been researching a little more and I think I am basically choosing between Mech Eng and Physics. The appeal that Mechanical Engineering has is that there are some courses with lower entry grades at good universities. Also, I feel that Physics may be quite dry and I'm not sure that some of the content would be my cup of tea.

That said, physics does still interest me and so on the open days I will be sure to see what the courses are like.

Initially, my provisional list of universities that I may want to attend are:
Warwick
Bristol
Manchester
Oxford
Birmingham
Nottingham
Durham
Southampton

I will also need to add some lower level universities to this list, but hypothetically how does this look?
(edited 8 years ago)
Original post by jakepds
I have been researching a little more and I think I am basically choosing between Mech Eng and Physics. The appeal that Mechanical Engineering has is that there are some courses with lower entry grades at good universities. Also, I feel that Physics may be quite dry and I'm not sure that some of the content would be my cup of tea.

That said, physics does still interest me and so on the open days I will be sure to see what the courses are like.

Initially, my provisional list of universities that I may want to attend are:
Warwick
Bristol
Manchester
Oxford
Birmingham
Nottingham
Durham
Southampton

I will also need to add some lower level universities to this list, but hypothetically how does this look?


Looks alright

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Original post by Princepieman


Southampton was the one that I hadn't heard of as being targeted, is this okay?

Also some of these courses have pretty low requirements in comparison to the top ones, like AAB at Warwick. It seems strange that these would ever be targeted?
Original post by jakepds
Southampton was the one that I hadn't heard of as being targeted, is this okay?

Also some of these courses have pretty low requirements in comparison to the top ones, like AAB at Warwick. It seems strange that these would ever be targeted?


Southampton isn't generally super targeted, but that doesn't mean someone from there with solid grades, industry knowledge, enthusiasm etc can't get an FO IB job.

Universities as a whole are targeted not courses. Plus, I'd wager most students going into engineering at Warwick will have surpassed the entry requirements. The min. performance at A-level to get past the automated screening software is usually ABB-AAB.


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Original post by Princepieman
Southampton isn't generally super targeted, but that doesn't mean someone from there with solid grades, industry knowledge, enthusiasm etc can't get an FO IB job.

Universities as a whole are targeted not courses. Plus, I'd wager most students going into engineering at Warwick will have surpassed the entry requirements. The min. performance at A-level to get past the automated screening software is usually ABB-AAB.


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You keep mentioning solid grades, since a 2:1 in minimum to even be considered for FO roles the only better you can do is a 1st, does a 1st really give you much of an edge over someone with a 2:1 when the focus by banks is more on your ECs and work experience?
Original post by Terry Tibbs
You keep mentioning solid grades, since a 2:1 in minimum to even be considered for FO roles the only better you can do is a 1st, does a 1st really give you much of an edge over someone with a 2:1 when the focus by banks is more on your ECs and work experience?


Coming from a non-target, yeah a 1st could make a difference. Othwerwise, its effect is pretty negligible. You'd be correct in saying ECs and experience play a stronger role.

I meant the whole package (2:1 or more, good a-levels etc), which is pretty much the baseline.

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