Discovering Higher and Degree Apprenticeships with UWE Bristol, get free advice >>

Investment banking w/o related degree

Hi,

I've heard a lot from people on the internet and in real life that you really don't need a related degree to go into investment banking (e.g. degree relating to maths/economics), and I know it is true that lots of people from unrelated degrees have gone into banking.

I'm currently studying biology at Oxford. I've only recently started thinking about investment banking. I have met a few people who have encouraged me to think about it (who have advocated the idea that I would be able to get in with little knowledge/a non-related degree). I have previously been considering consulting but looked at glassdoor reviews of companies, and the majority concluded that consulting is not worth the pay for the hours/work you're expected to put in... unlike banking which has similar hours but much better pay to make up for it.

However, I wanted to know how feasible this is? My friend who studies maths is currently looking to get into banking, and a lot of what he's told me about his interviews seem really technical, asking mathematical questions, and/or questions about economic/mathematical models. It seems like this is fine for people who are taught this at least to some extent as part of their course, but I would literally have no idea about any of these models, let alone be able to begin answering questions about them!

So it is really reasonable to believe that I would have a chance even with little knowledge of the field? I'm also worried that without past experience/knowledge I wouldn't be suited to such a role anyway and would just make a fool of myself in interview/in the role due to how little I have come across all the technical aspects in the past

Reply 1

KLL

To answer your questions.

Original post by roflcakes1

However, I wanted to know how feasible this is?

It's quite feasible. Not sure how you want it quantified.

Original post by roflcakes1

So it is really reasonable to believe that I would have a chance even with little knowledge of the field?

Yes. It helps to have more knowledge though, but that's easy to remedy.

Reply 2

El Salvador

Connection is all that matters.

Reply 3

KLL

Original post by clh_hilary

Connection is all that matters.

No.

Reply 4

El Salvador

Original post by KLL

No.

I didn't say it's the only route so I'm not sure why you're saying 'no' when it obviously can take you far.

Reply 5

KLL

Original post by clh_hilary

I didn't say it's the only route so I'm not sure why you're saying 'no' when it obviously can take you far.

"can take you far" is not the same as "all that matters". It's an absolute and thus a wrong statement unless the hiring process outcome was a function of your network without further variables.
Unless you're telling me that a mentally handicaped 5 year old who can't speak could get a full time job in banking cause he knows everyone on the Times 100 influental list.

(edited 9 years ago)

Reply 6

El Salvador

Original post by KLL

Yes, he can if he's the son of the CEO or the chairperson...

Reply 7

KLL

Original post by clh_hilary

Yes, he can if he's the son of the CEO or the chairperson...

No, he can't for a huge variety of legal and compliance reasons. Or do you think CEO's can simply ignore child larbour laws?

Reply 8

El Salvador

Original post by KLL

No, he can't for a huge variety of legal and compliance reasons.

He doesn't actually have the work. Lots of business companies do that. They could even install people who don't really do anything in accounting firms because they are the clients of those firms.

If you just like to talk about extremes for the sake of arguing then I can very well say somebody can open a new i-bank in some doggy island country and hires his son as a banker who doesn't do anything.

Reply 9

El Salvador

Original post by KLL

Or do you think CEO's can simply ignore child larbour laws?

Child labour laws are not absolute either. There are ways to work around it. You can just give that boy a salary without any actual working hours.

How do you think there are child actors in films and on TV?

Reply 10

KLL

Original post by clh_hilary

I do not think not working i nbanking but getting paid qualifies as breaking into banking. But now you are introducing vriables, contradicting yourself.
Your statement was binary and since other things than connections do and can matter, it is inherently wrong. I beleive there are also people who work in banking without having had connections. If connections were all that mattered, they wouldn't work there.