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    (Original post by Zürich)
    got a 1st from LSE in Economics and finding it hard so its not that simple anymore...
    Maybe they want people who work well in a team and have other skills not just100% academic?

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    Besides with 40%-50% of people getting a first at LSE, its the most overinflated grading scheme of all top 5 econ unis and just doesnt mean anything anymore. The other are all around 25%...
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    (Original post by bestofyou)
    people on this forum who say that are 16-18 year old kids who think they are better than the rest of their sixth form. They have no experience getting jobs and no experience in the world of work. Yet they know everything about what employers want and what universities are better than others, despite not having set foot inside any of them.
    You seem to have some problem with the notion that certain universities are more represented within banking than others.

    Having worked for Goldman Sachs last summer, I can tell you that the vast majority of interns and analysts (hired as graduates over the past few years obviously) did come from universities like LSE, Oxford and Cambridge. They didn't just go to these universities and do their degree though; they had stacks of work experience, extra-curriculars, volunteering experience etc, and had balanced this with achieving firsts and 2.1s. I was even told by the member of HR who managed relations with UCL and LSE, that they actively recruited from these universities more than from other universities, and it was demonstrated in the intern numbers - over 10% of firmwide interns were from LSE and UCL.

    Yes, a lot of A level students on this forum go off on one about how a 1st from Oxford will get you any job you want; and that is incorrect, but the basic facts are that degrees from Oxford, Cambridge, LSE etc, when combined with a good CV and a 1st or 2.1 are ahead of a similar profile from a lower ranked university, especially within investment banking. Unfortunately for the OP, he appears to have failed to get a 2.1, and thus, having LSE on his CV isn't nearly as valuable as it would have been.
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    Top 5 unis cover 90% of IB places I would say and of the 90%, 70% wold be Oxbridge.
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    (Original post by CoolStoryBroo)
    Really? I thought banks would be begging you to work for them, unless people on this forum have been exaggeration about how an economics degree from oxbridge or lse is like a golden ticket
    In a few cases it's not about what you know, it's about who you know.

    My cousin's boyfriend graduated with a 2:2 in Business Studies from an ex-poly. He worked for HSBC for a couple of years as an FX Broker and now he's at Barclays.
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    (Original post by HuntNGather)
    Graduated with a 2:2 from LSE and not really sure what to do. The initial aim was IB but not looking good at all, getting rejections from every firm I apply to (probably because the degree is coupled with a lack of work experience). Getting filtered out of most graduate schemes I look into and am running out of options. Seeing as IB looks like such a dead end I've been looking into accountancy and may proceed with the ACCA.

    Anyone been in a similar situation? Really looks like all the doors are closing...
    Were there any mitigating circumstances? Rather than pay to do ACCA, I'd say join a small regional firm and do the Chartered ACA accounting which pay you to work and study at the same time, you'll get experience which is better than ACCA - many have never done audits but simply read about it.

    You'll have to swallow your pride and join a small firm though, unless you did something inspiring, you can apply to PwC for 'inspired talent', furthermore, you could join a big4 school leaver scheme if brand is important to you, but it'll take 5 years to qualify this way and you could be ACA in 3 years at a smaller firm and then join big4/big MNCs afterwards.

    However, why did you get a 2.2? Apparently the exams are hard, slightly harder than ACCA - which are difficult in their own right.

    Anyway, move on with your 2.2, you'll unlikely get anywhere with the big, prestigious graduate schemes, your app will just get binned or overawed in the midst of the 2.1 graduates despite your name.

    This is one of the big unfair things about our system. You've got a 2.2 in a difficult, quantitative degree and if you went somewhere like Lancaster, Exeter or Leeds, you most probably would've got at least a 2.1 when you factor in the heavy workload at LSE but our system has no way of recognising that and they have the chance to apply to hundreds more schemes than you.

    Good luck anyway OP
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    (Original post by Zenomorph)
    Top 5 unis cover 90% of IB places I would say and of the 90%, 70% wold be Oxbridge.
    No, Oxbridge don't have that many graduates.
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    (Original post by Frenchous)
    Besides with 40%-50% of people getting a first at LSE, its the most overinflated grading scheme of all top 5 econ unis and just doesnt mean anything anymore. The other are all around 25%...
    you are way off here. About 30%. Where did you hear that, lol?
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    (Original post by Zürich)
    you are way off here. About 30%. Where did you hear that, lol?
    It's actually 39% and the other average unis are like 15%

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    (Original post by Lay-Z)
    Maybe they want people who work well in a team and have other skills not just100% academic?

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    You could count the number of front office S&T opps on 2 hands atm. Most firms just arent hiring at all...
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    Where did you get the stats on degree clasifications from universities?
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    (Original post by Valentas)
    Where did you get the stats on degree clasifications from universities?
    unistats
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    (Original post by CoolStoryBroo)
    Really? I thought banks would be begging you to work for them, unless people on this forum have been exaggeration about how an economics degree from oxbridge or lse is like a golden ticket
    This is just absolute fantasy and demonstrates incredible naivety on two accounts.

    The first is that the idea that in the current economic climate any companies are 'begging' people to work for them is a load of nonsense. If you are at Oxbridge or one of the big London three, you are at the top five universities but those five combined each year dish out a hell of a lot more graduates than there are front office bulge bracket bank jobs. And if you have a degree from one of those institutions and that is your mindset, the only golden ticket you will have is one to unemployment. Today for example I heard of a candidate with a First from Oxford who graduated in 2012 and is still out of work.

    Once you get to this level, it becomes about who you are as a candidate, not where you degree is from and what it is from. I'm at a Top 10ish Russell and many current third years I've spoke to have jobs lined up high up in the public sector, MA's at Cambridge, Big Four firms, one is even going to work for Merrill Lynch. So to the person that argued all the jobs go to Oxbridge/LSE candidates, it's simply fantasy.

    The crux is that you get into the best university you can, a Russell around the Top 10/20, you get a 2:1 or higher, then it becomes a case of a) what else have you got (Internships, Summer Schools, International Experience, Work Experience, other things), and what are you like as a candidate.

    A 2:2 doesn't finish you off, and as a First Year who just currently scraped a 2:1 I sympathise. It's a monster step up to a Russell uni. I know candidates with A*AA who have got 2:2's, because they write essays descriptive rather than analytical. A 2:2 is an uphill struggle as you'll likely be filtered out of most grad scheme places. What you want to be doing is building up a CV, as much work experience and other stuff as you can.

    A 2:2 isn't a reflection of how smart/not smart you are, it just means you didn't do as well at writing academic essays. Did you feel you worked hard? Carol Vorderman, has a Third from Cambridge, and I'd bet she'd beet most people with First's (from Cambridge) in a Maths quick fire quiz. University education just doesn't suit some as well as others.
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    If u check the experienced professionals hiring website of these banks they have entry-level openings from time to time (some say 1 year experience or an internship but some of them really don't need any experience) but I have no idea y it's posted on an experienced professionals hiring website and y thy don't take graduates when they have such open positions.


    This was posted from The Student Room's iPhone/iPad App
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    (Original post by Zürich)
    you are way off here. About 30%. Where did you hear that, lol?
    All these figures are publicly avilable on unistat. And last year was 50
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    (Original post by Zenomorph)
    Top 5 unis cover 90% of IB places I would say and of the 90%, 70% wold be Oxbridge.
    lol what do you even know about IB?

    (Original post by Zenomorph)
    I am at Sussex
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    (Original post by Zenomorph)
    Top 5 unis cover 90% of IB places I would say and of the 90%, 70% wold be Oxbridge.
    Without being too rude, a monolingual 21/22 year old from one of those 'Top 5 unis' you mention is not all that special anymore. There is the whole of continental Europe (and non-Europeans studying at European universities) for them to compete with.

    There are only so many openings for UK-focused M&A analysts and UK-focused salespeople.
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    (Original post by effofex)
    Without being too rude, a monolingual 21/22 year old from one of those 'Top 5 unis' you mention is not all that special anymore. There is the whole of continental Europe for them to compete with.
    Moral of the story, UK need to leave the EU ASAP to reduce labour mobility causing UK students to be able to get banking jobs

    The concentration of graduates are just making degrees less and less valuable. I'm not tryna sound ignorant but it's logical right?
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    It's also worth saying that Economics is not the ideal course to get into IB. I would say Maths is the most preferential and last year Goldman Sachs said, their highest front office employment was from Physics/Astrophysics Graduates. So not only are you competing with the other Economists from around the world not just the UK, but also people from other degrees.

    As someone said above, the best move is to look into graduate programmes, and starting from the bottom of a large organisation, at least that way, there's possibilities for the future.
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    (Original post by CoolStoryBroo)
    Moral of the story, UK need to leave the EU ASAP to reduce labour mobility causing UK students to be able to get banking jobs

    The concentration of graduates are just making degrees less and less valuable. I'm not tryna sound ignorant but it's logical right?
    The UK leaving the EU is not the same as the UK leaving the Single Market. Your government would need to do the latter in order to impose restrictions on EU nationals being hired into London (there is no restriction on EU nationals being hired into Oslo, Geneva or Zurich for example).

    Even with the latter, most international banks are willing to sponsor visas (e.g. for non-EU nationals) even at the analyst level. As mentioned before, most banks are aware that there is a glut of candidates from continental Europe and further afield who often cannot secure permanent positions in their home markets because of the industry becoming consolidated in London, and because of inflexible labour laws.
 
 
 
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