2:2 undergraduate with a masters

Hi looking at Grad Schemes, a lot of them state that you need a 2:1 in your undergraduate degree and some of them make you tick a box saying if you got above a 2:1 or not. If you have not then you can not apply.

If you achieve a merit in your masters, will that make any difference?

I asked a senior managing director at a top Private Equity firm and he said tat these days employers only look at your most recent qualification so it does not matter.

I also spoke to a managing director at a top Investment Bank and he says it would matter but this is only for the investment banking division at the very top investment banks.
And he added that for all the other divisions and other financial firms such as hedge funds, private equity firms and smaller investment banks, I should be fine.

So can a masters overcome a 2:2?

With a lot of grad schemes they state that you need a 2:1 but you can still apply regardless if you have met this requirement or not. So I suppose if you have someone referring your application you are fine?

I have come across people with 2:2's working at top investment banks.

No. You'll find it almost impossible to apply to something as competitive as investment banking/private equity without a 2:1 degree. Even getting a normal grad job is hard because they will check what you got in your bachelors degree- employers aren't stupid. However, some employers may consider you if you are especially good at other stuff (extra curricular activities) or have a valid reason for not getting a 2:1.

Well surely you need a 2:1 for most masters? So they say it wouldn't matter because you've already got the 2:1 to get onto the masters programme?

Those people you have come across probably have contacts high up in the bank they're working at..

the thing is I got an interview with a top hedge fund couple of weeks ago with a 2:2.
I think the trouble is only maybe with top BB in front office position but I feel networking can overcome this.
With places without structured recruiting like hedge funds, pe firms etc... You are defo fine as they will only look at most recent qualification which has to be good. . Top BB have too many people applying so they need an Initial sceening but it can be bypassed with networking and getting someone refer you IF your most recent qualification is good.

From which uni?

Firms differ so you have to check by ringing them up. Do it before you apply so you dont get screened out. If they say a 2;1 though a 22:2 with a masters isnt the same.

Ok but having given it more thought, if you are reffered you will never get screened out.
However to get someone to refer you your recent qualification needs to be great so it doesnt matter. 2:2 will hurt you if and only if you dont have further education

The 2:2 can still hurt you otherwise everyone who go a 2;2 would simply do a masters.

A colleague of mine told me about one of her best employees-- he worked on the trading floor at JP Morgan in London. Very working-class Londoner--- perhaps a Cockney-- who had never been to university. During one of the interviews, a snotty Oxbridge MD started quizzing him about his A-levels, especially in math(s), which he didn't have. At that point, young miracle man leaned over and said, "Look. If I need maths, I've got a computer on my desk. And if it breaks, I'll buy another one."

I suppose one way to deal with this situation would be to say when asked, "my undergrad wasn't up to where I wanted it , which is why I'm glad I got that distinction in X at the University of Y. Now I feel more ready to take on Z." If there's some special reason you didn't get a 2:1, you might mention that, but probably best to keep it positive and forward-looking.

Maybe. Except that most 2:2 graduates would never get into or even want to do a master's program, much less have what it takes to do well in it.

Your first point is valid, however. Some people will screen for what they want to, just because they can. And they might see a straight-trajectory, failure-free life as an asset for their business.