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    Does one have to decide whether they want to do trading or sales before an internship in markets or are markets internships rotational in both sales and trading? Or do you only do either sales or trading?
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    (Original post by swervybang)
    Does one have to decide whether they want to do trading or sales before an internship in markets or are markets internships rotational in both sales and trading? Or do you only do either sales or trading?
    Nope.

    It's either you'll get pushed towards trading v sales based on your interviews (if the internship is non-rotational) or it'll be a general pool of interns that rotate around desks.

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    (Original post by Princepieman)
    Nope.

    It's either you'll get pushed towards trading v sales based on your interviews (if the internship is non-rotational) or it'll be a general pool of interns that rotate around desks.

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    Thanks! So if I wanted to do either just sales or just trading I would have to try and show that through my interviews?
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    (Original post by swervybang)
    Thanks! So if I wanted to do either just sales or just trading I would have to try and show that through my interviews?
    Or the interviewer will infer it, either way

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    (Original post by swervybang)
    Thanks! So if I wanted to do either just sales or just trading I would have to try and show that through my interviews?
    Yeah but Barclays offers an off cycle trading-only internship if you're interested in that. You don't get to decide what you trade though unfortunately
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    (Original post by Princepieman)
    What grades do I need to become “An Investment Banker”?!?!?!

    First of all, you need to realise as you’re getting older that grades do not by any means define who you are or what you can become in the future. Don’t stress yourself out to the point of becoming nearly depressed - it serves no good and is most likely detrimental to your health at the end of the day. Focus on working hard and trying your best - in subjects that you find really interesting. If things go south the first time, taking a year out to re-do some exams is completely fine and there are several other routes to get into finance.

    The way grad job recruiting works at most banks, asset management and consulting firms is there’s oftentimes a “minimum” level of grades (or more common UCAS points) required to get through the electronic (or in some cases human) screening mechanisms. These minimums are set at between 300 UCAS points (BBB or an alternate combo) to 360 UCAS points (AAA or an alternate combo) - most banks fall in the 300-340 range; i.e. AAB - BBB. So as long as you can get that, you’ll be in contention. As you can see, A-level grades are important but GCSEs are nowhere near as important. Caveat: due to the exceptional levels of competition, you’ll find yourself up against those with multiple As and A*s at A-level and at GCSE so do bear that in mind but hitting the minimum accompanied by a strong CV and a networking pull will suffice.

    Another note for those worried about their grades: firms nowadays are progressively becoming more and more open to people from non-”cookie-cutter” backgrounds. Many firms (Goldman being the prime example but also Barclays and JPMorgan) have now done away with minimum grade requirements in an effort to further diversify their entry level cohorts



    Which uni should I choose??!?!?

    Woah boy, this one is THE most asked question in this forum. Here’s how you structure your decision making with a career in finance in mind:

    1. Is this university a target, semi-target or non-target?

    2. Would I enjoy the location of this university? Are there any local networking opportunities?

    3. How active is the finance society and careers service within the university? Which firms sponsor them? Which firms come to visit?

    4. What’s the cost of living like?

    5. What are the extra curricular offerings like?

    6. Are the course offerings unique or specifically of interest to me?

    7. Would I benefit from a particular study abroad or work placement scheme offered by this university?


    Let’s break it down:

    1: Within front office finance, firms recruit in specific ways; both to optimise efficiency of the recruiting process and to capture as much talent as possible. One of the ways firms optimise the process is by having “target schools” - a target school is where a firm dedicates its resources in order to a) raise awareness and encourage applications, b) pinpoint priority applications and c) appease the successful graduates (hahahaha) of that university within the firm - joking, it’s in order to maintain alumni networks. So that’s the formal definition. There is another definition used informally to represent the largest UK ‘feeder’ schools into various front office roles across the city (or even further afield). The target school in this sense is where ALL firms encourage and look out for applications from, after that you have “semi-targets” where a couple to quite a fair amount of firms encourage applications from and look out for and lastly, non-targets where very few if any firms actively seek out applications from. Framed in this way, you can understand now that there is a substantial benefit in attending a target or semi-target school but, a strong candidate from a non-target will be able to make it through at least somewhere.

    > Note for strategy consulting at a top 3-10 firm, you’d want to find yourself at Oxbridge or LSE/Imperial to get the same target experience - again people from other good unis break in all the time too


    THE TARGETS

    (These universities together represent anywhere from 70-80% of front office UK grad intakes)

    University of Oxford
    University of Cambridge
    London School of Economics and Political Science
    University College London
    Imperial College London
    University of Warwick


    THE SEMI-TARGETS

    (These universities represent the next 15-30% of most intakes)

    Durham University
    University of Nottingham
    University of Bristol
    University of Bath
    Cass Business School

    (Arguably, there’s a slight gap at this point based on grad/summer class data)

    University of Edinburgh
    University of Manchester
    University of St Andrews
    King’s College London
    University of Exeter


    HONORABLE MENTIONS

    Loughborough University (an emerging semi-target)
    University of York (also somewhat of a semi-target)
    University of Leeds (very strong alumni network in the city, but not quite semi-target status)
    University of Southampton (similar to Leeds)

    Apart from these, if grades don’t permit getting into a university listed above try a Russell Group or a good non-Russell Group university with lower entry requirements

    2: London universities have the advantage of being central to the action, this means lots of potential networking opportunities or informal work experience. It’ll also save you transportation costs for assessment centres and interviews. Caveat: London is expensive, like super expensive so you might net-net be better off in another location. There are still more than enough opportunities to network outside of London as firms constantly visit their target schools.

    3: Check the websites of societies and universities, also look out for exhibition lists

    4: Students are generally poor, if at all possible try to avoid excessively high cost of living areas if you can’t afford it. In the case of London v non-London, just remember as an aspiring financier you’ll be working in London after uni anyway

    5 and 6: See 3

    7: Year abroads and work placements are both very interesting offerings that come bundled (when undertaken) with huge amount of benefits. For study abroad, that would be life experience and for work placements, that would be work experience and contacts. If you’re following "The Path” outlined in the How to Get Into Finance thread, then you’d most likely be doing summer internships instead of a work placement - but they are still extremely valuable


    What should I study at uni?!?!


    Right, this question is also asked A LOT. The answer is to decide whether you are a “maths geek” or not. If you enjoy churning through all the 18 modules available at A-level for maths and you eat maths textbooks for breakfast, then suffice it to say, you’d be a great contender for one of the more “Quant” roles available in finance. If this is you, studying one of these subjects: Maths, Physics, Computer Science, Engineering, Natural Sciences or any combo of them, will keep that option open alongside all the other roles.

    For everyone else, it doesn’t really matter. I find that most wannabe bankers are the same type of person that would want to study economics at a top school - but that has very little to do with economics itself being “amazing” but rather it drawing a certain type of (usually uber competitive) student. So, if your interest is in Zoology, History of the Boondocks, Etymology of Beyonce - or what have you - go for it. Caveat: If you’re not at a target or semi-target, it would probably make more sense to do a quantitative subject. Another thing, sure you can study what you want but you still need to have a good feel for numbers (i.e. you know the basic operations, basic algebra - like year 9-10 stuff (S2-3 for you scots)).


    Oh if you’re choosing A-level subjects make sure to choose a combo that aligns with whatever the entry requirements state for your course of interest


    What do I put on my CV?! Where do I find work experience??!?!


    Alright, alright chill out! Your CV at this stage isn’t the be all and end all of life. You should be actively pursuing activities you find interesting not merely to bulk up your CV. If you like helping out at a zoo because pandas are cute or whatever - great. Do that. The emphasis on extra curriculars in this industry is to make sure you’re a human being with outside interests and are capable of taking on responsibility. Did you see that second part? Yeah. Get some. That means when prefect applications open up, go out and pursue it. If there’s a head boy or girl position, raise your hand up to say you’ll be interested in applying. You know those schemes where you show the new secondary kids around - yeah, that requires taking on responsibility - moral is, whatever opportunity you can find to step up and take initiative to be a leader pursue it. Do try to develop team working and collaboration skills along the way too.

    Ahh, work experience. I’m not going to lie to you: the only work experience you’ll get at this stage is a) via family or school contacts, b) via you hassling as many people in the industry for informal shadowing or c) usually a social mobility scheme ala Social Mobility Foundation, SEO Scholars etc. You’ll be hard pressed to find other programmes but they do exist. A-level insight days are an example of this - they’re specifically intended for year 13s (S6) (sometimes year 12s (S5)) interested in the industry to attend. They are competitive however so do make sure your CV is up to scratch.


    Resources:
    Unofficial Guide to Banking
    How to get a spring week guide - Canary Wharfian
    Wall Street Oasis - FAQ
    How to get a job in High Finance - TSR thread
    Student Ladder - Work experience suggestions
    SEO London - Scholars (London only/Social Mobility)
    Social Mobility Foundation (Social Mobility - work experience schemes)
    AllAboutFinanceCareers
    Hi, you seem very well equipped with the information needed to go into IB. I was wondering what was your personal experience, like course you did, what Uni and how you made contacts? Thanks
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    (Original post by Ze Witcher)
    Hi, you seem very well equipped with the information needed to go into IB. I was wondering what was your personal experience, like course you did, what Uni and how you made contacts? Thanks
    Reached out to as many people as possible, started networking groups, read and read and read, applied to insight programmes, reached out to friends' parents who knew people in finance.

    Also had some interaction with VCs/bankers when I ran a tech company alongside school.

    Really, all you have to do is spend a few days on LinkedIn and on Google, and you'll be clued up with the basics.

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    (Original post by Princepieman)
    Reached out to as many people as possible, started networking groups, read and read and read, applied to insight programmes, reached out to friends' parents who knew people in finance.

    Also had some interaction with VCs/bankers when I ran a tech company alongside school.

    Really, all you have to do is spend a few days on LinkedIn and on Google, and you'll be clued up with the basics.

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    If you don't mind me asking, what are you currently doing atm. Are you still doing a levels or are you at uni?
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    (Original post by mk_98)
    If you don't mind me asking, what are you currently doing atm. Are you still doing a levels or are you at uni?
    uni

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    (Original post by Princepieman)
    uni

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    At a target?
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    Hi, thanks for the all the information threads, but I have so many questions to ask and many of you on here seem to be very knowledgeable on the subject.

    I only got BBCD at AS so is it worth me applying to any of the top target universities?

    What subjects are considered quantitative subjects? The only universities in the target/semi-target group are LSE and Cass Business School. My main aim at the moment would be LSE or Surrey. So if I was to go to Surrey what subjects would help me get into IB? I'm currently looking at Accounting and Finance or Economics.

    Finally, what are the general ball park salaries for different roles in IB?

    Any response would be greatly appreciated.
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    (Original post by ImGoingToFail12)
    Hi, thanks for the all the information threads, but I have so many questions to ask and many of you on here seem to be very knowledgeable on the subject.

    I only got BBCD at AS so is it worth me applying to any of the top target universities?

    What subjects are considered quantitative subjects? The only universities in the target/semi-target group are LSE and Cass Business School. My main aim at the moment would be LSE or Surrey. So if I was to go to Surrey what subjects would help me get into IB? I'm currently looking at Accounting and Finance or Economics.

    Finally, what are the general ball park salaries for different roles in IB?

    Any response would be greatly appreciated.
    Yes, but maybe only Warwick/UCL and not in an oversubscribed course (so no Maths/Econ/Law etc) if you can get good predicted grades.

    LSE is probably not going to happen if I'm honest with those AS grades. Why do you want to go to Surrey?

    Already answered.

    For pay look through the forum..


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    (Original post by Princepieman)
    Yes, but maybe only Warwick/UCL and not in an oversubscribed course (so no Maths/Econ/Law etc) if you can get good predicted grades.

    LSE is probably not going to happen if I'm honest with those AS grades. Why do you want to go to Surrey?

    Already answered.

    For pay look through the forum..


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    Shame, I currently study Economics, History and English Literature and I expect my predicted grades to be AAB. I will perhaps look at studying history at UCL, even though it isn't really what I want to do.

    I figured, even though it probably isn't going to happen, is it worth applying anyway?

    It's not that I want to go to Surrey, but I went to the Open Day yesterday and thought it looked good, would you suggest somewhere else then?

    Thanks for the help.
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    (Original post by ImGoingToFail12)
    Shame, I currently study Economics, History and English Literature and I expect my predicted grades to be AAB. I will perhaps look at studying history at UCL, even though it isn't really what I want to do.

    I figured, even though it probably isn't going to happen, is it worth applying anyway?

    It's not that I want to go to Surrey, but I went to the Open Day yesterday and thought it looked good, would you suggest somewhere else then?

    Thanks for the help.
    AAB will get you into a lot of decent courses at decent unis, have a look at the entry requirements for whatever subject you're interested in.

    Wouldn't advise it really, especially with such a small chance overall. You'd be better off putting down a more realistic option.

    All the places I would 'suggest' are in the main post, just didn't see the logic of LSE or Surrey only being your options.



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    (Original post by Princepieman)
    AAB will get you into a lot of decent courses at decent unis, have a look at the entry requirements for whatever subject you're interested in.

    Wouldn't advise it really, especially with such a small chance overall. You'd be better off putting down a more realistic option.

    All the places I would 'suggest' are in the main post, just didn't see the logic of LSE or Surrey only being your options.



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    I'm ideally looking at Accounting and Finance or Economics.

    Okay, I probably won't.

    They aren't my only options, currently I have Surrey, City London (same as Cass Business if I remember correctly) and Kent, I'm ideally looking to stay in the South East so I may have to look at a few of the semi-targets and see if I can visit their Open Day or just apply.
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    Princepieman So sorry mate, I asked what the ball park salaries for different roles in IB are and you said that you had already answered this question so to look through the forums. So I have been looking for the last 15-20 minutes using the keyword search and I can't find an answer. Could you quickly let me know here? Thanks.
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    (Original post by ImGoingToFail12)
    Princepieman So sorry mate, I asked what the ball park salaries for different roles in IB are and you said that you had already answered this question so to look through the forums. So I have been looking for the last 15-20 minutes using the keyword search and I can't find an answer. Could you quickly let me know here? Thanks.
    Did you also peruse google? Reason I'm telling you to dig this up yourself is because there is a lot of info about pay in various roles within investment banks out there and me taking the time to give you figures for literally every single one (an investment bank consists of various departments and roles, and levels) is a waste of time for the most part.


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    (Original post by ImGoingToFail12)
    Shame, I currently study Economics, History and English Literature and I expect my predicted grades to be AAB. I will perhaps look at studying history at UCL, even though it isn't really what I want to do.

    I figured, even though it probably isn't going to happen, is it worth applying anyway?

    It's not that I want to go to Surrey, but I went to the Open Day yesterday and thought it looked good, would you suggest somewhere else then?

    Thanks for the help.
    Don't apply to LSE. You won't get in unless you're really amazing in some other way. Don't apply to history at UCL if history is not the degree you want to do. If you want to apply to Surrey, you'll have a good chance with those predicted grades and if you like the uni, why not go to it?

    Also, if you don't study maths at A Level a lot of the economics courses won't take you in. If you're undecided between economics and accounting and finance and don't have a strong passion for either, I'd say go for accounting because it tends to have lower entry requirements.
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    (Original post by ImGoingToFail12)
    Princepieman So sorry mate, I asked what the ball park salaries for different roles in IB are and you said that you had already answered this question so to look through the forums. So I have been looking for the last 15-20 minutes using the keyword search and I can't find an answer. Could you quickly let me know here? Thanks.
    It's £50k plus bonus
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    (Original post by Trapz99)
    Don't apply to LSE. You won't get in unless you're really amazing in some other way. Don't apply to history at UCL if history is not the degree you want to do. If you want to apply to Surrey, you'll have a good chance with those predicted grades and if you like the uni, why not go to it?

    Also, if you don't study maths at A Level a lot of the economics courses won't take you in. If you're undecided between economics and accounting and finance and don't have a strong passion for either, I'd say go for accounting because it tends to have lower entry requirements.
    Because I keep seeing everyone on here say that I probably won't be able to get into IB as it is not a target. semi-target or Russell Group despite it being 4 on the Guardian League Table and 11th on the Complete University Guide. If it won't allow me to get into IB what's the point?

    Thanks for the advice mate.
 
 
 
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