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Do you have to go to the top 20 universities to be a investment banker? watch

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    (Original post by violenti)
    By way of general response can I say that I entirely disagree that you have to go to a "target uni" to obtain a front office position at a BB, or a mid tier/pukka boutique. I graduated from KCL, in Law, where I took a first, and am now at Bristol doing an LLM/MPhil, in which I am due to upgrade to PhD status this September. My maths is at best ropey! Yet I managed to obtain three internships, at Lazard, Rothschild, and Espirito Santo(my favoured one) , for this coming September. Realistically I accept I can do only one of them. Many, well 5 of my peers at Bristol, have secured Internships at BB, and other good organisations, and none of them are reading Maths, Economics, or si,ilar. If tou go to a top twenty uni , or one just outside you still have a good chance. Albeit you will need to network, cold call, and have something interesting to say above the norm. Go for it, and dont follow blindly the prophets of doom . A close mate of mine back home read business, getting a very high 2.1 albeit, he has now secured a FO position at DB, where he has been since September, and he got ropey A Levels too! CCC. What does that tell you? I welcome your constructive advices generally!
    Ok, but those are still exceptions, not the rule. If people were given the choice between Warwick/LSE or kcl, ceteris paribus, with an intention of getting into finance, one would advise them to go for the former (but it doesn't make it impossible to get in from the latter, just smaller chances).

    All of these anecdotal stories mean nothing. No one has said that it is impossible to break in without having gone to the top 6, but the stats speak for themselves
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    (Original post by violenti)
    In your view how does KCL, Bristol, rank as a Uni, or target Uni for IB. What Uni, are you at , etc please?
    Focus08 is not exactly a 'fan' of KCL

    IMO KCL and Bristol are what you could class as semi-targets...they are both very respectable universities and are targetted by employers...just not as heavily targeted as per the likes of Oxbridge, LSE, UCL, ICL

    I'll be heading to KCL in September and I know i've got my work cut out if I want to break into IB...so I'll just have to pull my finger out and try and compete for internships and w/e just like the rest of 'em
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    (Original post by 100)
    Not at all.

    Also, times have changed significantly. People can always come up with exceptions but the general rule is the first thing that will be looked at is your University and 9 times out of 10 if you don't tick a box there you're application will be rejected unless you're outstanding elsewhere.
    Yes times have changed in that far more people go to university, yet the top ones havn't got any bigger, so more outstanding people go to the lesser universities. In addition to that, the quality of your university implies intelligence to some extent, but actually says more about how hard you worked aged 16 - 18 and how lucky you were when LSE / Oxford were giving out places. What investment banks are looking for is people who are sharp, but are also good with people, driven, ambitious, and willing to put up with working all hours of the day and often night while tolerating huge amounts of stress. I dont think that a degree from a top 6 university shows these qualities.
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    (Original post by Quark123)
    I dont think that a degree from a top 6 university shows these qualities.
    I agree, but a rigorous/quantitative degree (say, econ or maths) from a top 6 shows that. Obv, HR from LSE or Warwick management don't, despite being top 6

    (Original post by .:excel4100%:.)
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    (Original post by Quark123)
    Yes times have changed in that far more people go to university, yet the top ones havn't got any bigger, so more outstanding people go to the lesser universities. In addition to that, the quality of your university implies intelligence to some extent, but actually says more about how hard you worked aged 16 - 18 and how lucky you were when LSE / Oxford were giving out places. What investment banks are looking for is people who are sharp, but are also good with people, driven, ambitious, and willing to put up with working all hours of the day and often night while tolerating huge amounts of stress. I dont think that a degree from a top 6 university shows these qualities.
    Yeah, but when you're shifting through 200+ applicants per place, if you're at Kent or [insert generic town] they might as well chuck you in the bin! They're only human. The easiest way to get X number of top people is to go to the top Unis and pick them from there (which is most of the time what happens). If you don't go to a good Uni you are seriously disadvantaged!
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    (Original post by Focus08)
    I agree, but a rigorous/quantitative degree (say, econ or maths) from a top 6 shows that. Obv, HR from LSE or Warwick management don't, despite being top 6
    Warwick Mangement isnt as bad as you think it is. The core modules are a bit of a doss, but they get a f*ckton of optionals so they get the opportunity to load up on a sh*tload of good modules from the business school. I'm actually kinda jealous of how flexible their degree is.
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    (Original post by Zweihander)
    Warwick Mangement isnt as bad as you think it is. The core modules are a bit of a doss, but they get a f*ckton of optionals so they get the opportunity to load up on a sh*tload of good modules from the business school. I'm actually kinda jealous of how flexible their degree is.
    You know it's a chip I'll always have on my shoulder when it comes to that stuff. Can't change that
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    (Original post by joshgoldman)
    Applying to:
    Warwick - MORSE
    UCL - Stats, economics, finance
    LSE - Business mathematics with stats
    LSE - Stats with finance
    Can't really decide on my other one, maybe Oxford's maths with stats, or maths with econ at either Warwick or Notts.

    Would I have a decent chance at FO with those degrees? Would the subject choices be good/relevant?
    Yes, yes you do.
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    (Original post by joshgoldman)
    Applying to:
    Warwick - MORSE
    UCL - Stats, economics, finance
    LSE - Business mathematics with stats
    LSE - Stats with finance
    Can't really decide on my other one, maybe Oxford's maths with stats, or maths with econ at either Warwick or Notts.

    Would I have a decent chance at FO with those degrees? Would the subject choices be good/relevant?
    Does it not say on the LSE website to only apply to one of those degrees? As they both have exactly the same first year, and you can transfer degrees at the end of first year. Just thinking it could give you an extra UCAS option if you only applied to one of them.
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    (Original post by Zweihander)
    Warwick Mangement isnt as bad as you think it is. The core modules are a bit of a doss, but they get a f*ckton of optionals so they get the opportunity to load up on a sh*tload of good modules from the business school. I'm actually kinda jealous of how flexible their degree is.
    Warwick Management is hardly a respectable degree.....it only gets ratings because of the prestige of the business school. They hardly have any extremely difficult core modules and just end up choosing all the easy modules in the business school (which are in abundance).

    The entry requirements for it is pretty high though, so you still have to be good to get in for it :/
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    All in all - it doesn't matter what you study and to some extent where you study.
    You can make it into an IB if :
    1. You are genuinely inclined towards the industry and are able to prove it on your CV and interview.
    2. You have some good contacts or are able to network whenever the opportunity comes your way.
    3. You do a degree and come out with a high 1st class
    4. You gain some sort of experience in the midst of your degree in the form of a spring week or summer internship.
    5. The luck element which will play a vital part till your very last day on earth. I need not give examples of people who have been lucky as wikipedia/google should do that for you.

    Not saying that university is irrelevant - but if you have the 5 things mentioned above, you should be able to make it.
    Yes, going to a reputed business school or a reputed university helps take care of 3 and 4 through networking events and getting screened for work exp but then again not the beginning and the end of the world.
    Good luck to everyone in the IB industry.
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    (Original post by .:excel4100%:.)
    Warwick Management is hardly a respectable degree.....it only gets ratings because of the prestige of the business school. They hardly have any extremely difficult core modules and just end up choosing all the easy modules in the business school (which are in abundance).

    The entry requirements for it is pretty high though, so you still have to be good to get in for it :/
    Sorry not trying to go against your point in anyway but just out of curiosity - does any bank look at the modules you do at uni? I haven't heard of them doing that but if they do, I probably need to do better units next year cause all I have chosen so far is 'Economics of Developing Countries' and "Business Law' which I would consider a complete joke myself .
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    (Original post by .:excel4100%:.)
    Warwick Management is hardly a respectable degree.....it only gets ratings because of the prestige of the business school. They hardly have any extremely difficult core modules and just end up choosing all the easy modules in the business school (which are in abundance).

    The entry requirements for it is pretty high though, so you still have to be good to get in for it :/
    Core modules in Management are more or less the same as A&F. Only real difference is in 1st year Management students do 3 management specific modules, and in 2nd year they have 3 fewer core modules than A&F. Dont know what the general trend is in terms of module choices, but Management have far more flexibility than A&F and can load up on a load of finance modules if they want.

    In terms of employment the course at Warwick is pretty well regarded and a considerable number of Management students get into FO banking roles. As an example, 2 out of the 5 people from Warwick on the Goldman IBD spring week this year studied Management, and 4 out of the 5 were from the business school. And talking to Management students in 2nd & 3rd year there seems to be a healthy proportion this year with summer internship offers.
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    Although it's clear this thread can be of help to those having to choose unis and who are driven to do IB, I don't for one second think anyone should be deterred from aiming for a front office IB role if they aren't at one of the top 6 target schools.

    Sure, it'll be tougher to break in but jesus, if you want it badly enough it'll happen. Build a good CV, aim to network and have an employee back you, do well on the tests and you should get a few interviews. Once you're in the interviews, it's down to being a likeable guy/girl, clicking with the interviewers and convincing them that you know your stuff and are wholly driven to work at their bank.

    Recruiters know that there is talent that was unlucky to be rejected from Oxbridge at the age of 17. They also know that studying in London isn't everyone's cup of tea, and that there may very well be some hugely talented people at the Durhams and Edinburghs of the world who chose those places because they suited them.
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    Apologies - my post didn't address the OP but instead some later posts
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    (Original post by .:excel4100%:.)
    Warwick Management is hardly a respectable degree.....it only gets ratings because of the prestige of the business school. They hardly have any extremely difficult core modules and just end up choosing all the easy modules in the business school (which are in abundance).

    The entry requirements for it is pretty high though, so you still have to be good to get in for it :/
    Just to add to this, all the people that I know who have either switched unis or course (or both) have always switched from management...
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    (Original post by viksta1000)
    Focus08 is not exactly a 'fan' of KCL

    IMO KCL and Bristol are what you could class as semi-targets...they are both very respectable universities and are targetted by employers...just not as heavily targeted as per the likes of Oxbridge, LSE, UCL, ICL

    I'll be heading to KCL in September and I know i've got my work cut out if I want to break into IB...so I'll just have to pull my finger out and try and compete for internships and w/e just like the rest of 'em
    Appears so.

    He is obsessed with attacking the university.

    Surely he did not enjoy the time he spent in KCL and is still bitter about it.

    (Original post by FallOnDeathsEars)
    The list is not in order, the whole point of the post was to show that it really only makes a difference if you go to Oxford, Cambridge or LSE. NO other university will have the same wow factor on a CV to the top employers as these 3. The difference between the other universities is so minimal that you will not have a significant advantage, they are all known to be 'good'. Obviously some employers will favour some Universities more, but this one doesn't.
    Yeah.

    Although people have a chance whatever university they go to (some chances are too slim though), one's chance is particularly enhanced if they attend Oxbridge or LSE.
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    To answer the original question - at a recent Assessment Centre I was at for M&A at a top 5 bank, the breakdown of the 15 candidates present was, if I recall, roughly as follows:

    3 x Oxford
    3 x Cambridge
    2 x LSE
    2 x Durham
    2 x Warwick
    1 x Imperial
    1 x Bath
    1 x Bocconi

    Quite comprehensively answers the question. Every now and then you'll get a Loughborough, Sheffield, Newcastle, Manchester type creep through, but a huge number are from the top 10 universities.
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    (Original post by Ross Johnson)
    To answer the original question - at a recent Assessment Centre I was at for M&A at a top 5 bank, the breakdown of the 15 candidates present was, if I recall, roughly as follows:

    3 x Oxford
    3 x Cambridge
    2 x LSE
    2 x Durham
    2 x Warwick
    1 x Imperial
    1 x Bath
    1 x Bocconi

    Quite comprehensively answers the question. Every now and then you'll get a Loughborough, Sheffield, Newcastle, Manchester type creep through, but a huge number are from the top 10 universities.
    No UCL?
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    (Original post by Focus08)
    No UCL?
    Nope, not at this assessment centre, but statistically there's bound to be the odd one here and there that's not represented by one of the universities I mentioned, I've met plenty of other UCL students at other assessment days/interviews. My point was to show how heavily skewed they tend to be to the top 10.
 
 
 
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