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    Hey all,

    How much do degrees matter? That is if you want to work in banking (investment) or finance. Obviously both very attractive fields and many suitable candidates.

    Most banks have graduate schemes and degrees and their classification do matter in those schemes being one of the requirements. Fair enough.

    But what happens to those candidates who have a lower degree or a 3rd in worst case scenario. Will they never be elgible for a job in this field? What are their options? There are the sunshine stories you hear about but can those be applied to the general?

    To what extent does drive and ambition then really matter? And how do you make the people recruiting see these qualities and not focus entirely on your weaknesses?
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    Don't know much about this, but surely it depends where your degree is (and what it's in). A 3rd from Oxbridge will be looked on far more highly than a 3rd from Paisley University (I'm not dissin it btw, I just know it has lower entry requirements generally).
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    a friend was tellin me that his fathers company employ people with a 1st class degree only, with the exception of oxbridge graduates, who they will employ with any level of degree
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    (Original post by scottyoneill)
    a friend was tellin me that his fathers company employ people with a 1st class degree only, with the exception of oxbridge graduates, who they will employ with any level of degree
    Then his father's company is probably missing out on a whole lot of intelligent employees.
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    (Original post by Outrageous)
    Hey all,

    How much do degrees matter? That is if you want to work in banking (investment) or finance. Obviously both very attractive fields and many suitable candidates.

    Most banks have graduate schemes and degrees and their classification do matter in those schemes being one of the requirements. Fair enough.

    But what happens to those candidates who have a lower degree or a 3rd in worst case scenario. Will they never be elgible for a jobin this field? What are their options? There are the sunshine stories you hear about but can those be applied to the general?

    To what extent does drive and ambition then really matter? And how do you make the people recruiting see these qualities and not focus entirely on your weaknesses?


    In the areas you've mentioned, life is close to impossible with anything lower than a 2:1, preferably a 2:1 from a highly regarded university. You ask the extent to which drive and ambition matter, they matter a great deal, however that's only if you've managed a good degree. You see, there are so many applications, that employers rightfully believe they can have it all, i.e. good grades with drive and ambition, and whatever else they're after. If you're looking to enter a very competitive field, to be blunt, you need to 'have it all'. It's a tough world if you're looking to aim at the top, especially when the markets aren't doing quite so well. If you're looking at I Banking, you REALLY do need it all, good pre-university grades, good performance at a highly regarded institution, a set of outside activities, examples of leadership, teamwork, initiative and the like. All that just to get an interview, from where you will need to demonstrate these abilities, show a great deal of confidence in being able to speak out and express yourself, also numerical skills are of huge importance.

    If you really are concerned about your career marketability, and with doing exceptionally well from an early age, and it matters that much - then you have to really spend much of your university life 'perfecting' these skills. Getting a good grad job is a job in itself
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    (Original post by scottyoneill)
    a friend was tellin me that his fathers company employ people with a 1st class degree only, with the exception of oxbridge graduates, who they will employ with any level of degree
    That's infuriating. Positive discrimination is sometimes a bad thing.
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    Its worth remembering that many banking/finance firms also insist on a minimum of BBB (or equivalent - ABC, AAD) at A level (excluding general studies) for their graduate recruitment schemes AS WELL AS a 2i
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    Thank you all for replying. I truly appreciate the comments.

    Not that I can say they were all that cheerful but I appreciate the brutal honesty.

    So basically if you a degree in say economics NOT from a top notch university and you fail to do well on that degree then you basically have nothing to go on. You will never land the job you really wanted and all your dreams shattered just like that, Hoofbeat and J.S?

    So people with a 3rd are skrewed so to speak?

    I know Investment Banking is in huge demand but still.. or is there no still? End of story. You go nowhere in life?
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    (Original post by Outrageous)
    Thank you all for replying. I truly appreciate the comments.

    Not that I can say they were all that cheerful but I appreciate the brutal honesty.

    So basically if you a degree in say economics NOT from a top notch university and you fail to do well on that degree then you basically have nothing to go on. You will never land the job you really wanted and all your dreams shattered just like that, Hoofbeat and J.S?

    So people with a 3rd are skrewed so to speak?

    I know Investment Banking is in huge demand but still.. or is there no still? End of story. You go nowhere in life?

    Get another job. Do another degree. Do a postgrad course.
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    Unfortunately, Dr Blazed, further education is not an option for everybody. It costs money and time. Also don't forget the student debts.
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    (Original post by Outrageous)
    Unfortunately, Dr Blazed, further education is not an option for everybody. It costs money and time. Also don't forget the student debts.

    Then you're buggered.
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    Well thats your opinion. However, the world is big enough for all and hopefully we will all succeed at whatever it is one wants. There has to be options. Systems can not be so rigid and not fail at some point. It was you who aid they would missing out on a lot of intelligent and ambitious people.
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    If you get a third-class degree "NOT from a top notch university", then you will be unlikely to be able to get into graduate-level employment of any sort.
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    (Original post by Outrageous)
    Thank you all for replying. I truly appreciate the comments.

    Not that I can say they were all that cheerful but I appreciate the brutal honesty.

    So basically if you a degree in say economics NOT from a top notch university and you fail to do well on that degree then you basically have nothing to go on. You will never land the job you really wanted and all your dreams shattered just like that, Hoofbeat and J.S?

    So people with a 3rd are skrewed so to speak?

    I know Investment Banking is in huge demand but still.. or is there no still? End of story. You go nowhere in life?
    People with a third will find things more difficult - they're often excluded straight away from standard graduate recruitment routes.

    People with a degree from a non-top notch university MAY have more difficulty getting the job of their dreams (although http://www.prospects.ac.uk/cms/ShowP...tment/p!eafcbi suggests otherwise:
    Choice of type of university determines a graduate's job prospects

    The recent Does it pay to attend a prestigious university? report found that graduates from older universities can earn up to 6% more than other graduates. In addition, the higher UCAS points gained in order to attend an older university may also boost job prospects as certain employers do look at past academic qualifications. However, comparisons of the first destinations of graduates from older and newer universities suggest that entry to a preferred career is faster for those who went to a post-1992 university according to The Graduate Experience 2002 Report. This report states that graduates of traditional universities “have higher career expectations and so may be more inclined to undertake short-term employment rather than a permanent job outside their career”. The survey reveals that 44% of the post-1992 university graduates surveyed were in their preferred first job six months after graduation in contrast to 39% of the pre-1992 university cohort. Possible reasons for this include the more vocational orientation of new universities together with the more likely work placement opportunities during their time at university, both of which could have increased the employability of the newer university graduates. Despite this, major blue-chip employers continue to target students and graduates from ‘prestigious’ universities with just over a quarter of the 104 employers surveyed in the Graduates in the Eyes of Employers 2002 report feeling that new universities turn out lower quality graduates.
    ) However the main factors to get past the first steps of graduate recruitment are a 2i and at least BBB at A levels, and once you've got past the application form stage employers are looking to recruit YOU and not the university on you degree certificate.
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    (Original post by Outrageous)
    I know Investment Banking is in huge demand but still.. or is there no still? End of story. You go nowhere in life?
    This is up there with the most ridiculous comments I've seen on UKL. Do you believe that if you aren't an investment banker than you go nowhere in life?

    btw: Why do you want to be an investment banker so much? Do you know much about it? Have you carefully studied what it entails? Compared it with other career options? Thought extremely carefully about the pro's and con's, with respect to the sort of person you are now, the sort of person you will be once you've graduated from university, and the sort of person you would like to be 5/10 years after graduation? If the answer is no, I wouldn't worry too much about it investment banking just yet.
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    (Original post by Hoofbeat)
    Don't know much about this, but surely it depends where your degree is (and what it's in). A 3rd from Oxbridge will be looked on far more highly than a 3rd from Paisley University (I'm not dissin it btw, I just know it has lower entry requirements generally).
    Paisley University - I thought that was a teacher training college.

    I think UCAS points really matter (as Pencil Queen has pointed out)
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    (Original post by Outrageous)
    Thank you all for replying. I truly appreciate the comments.

    Not that I can say they were all that cheerful but I appreciate the brutal honesty.

    So basically if you a degree in say economics NOT from a top notch university and you fail to do well on that degree then you basically have nothing to go on. You will never land the job you really wanted and all your dreams shattered just like that, Hoofbeat and J.S?

    So people with a 3rd are skrewed so to speak?

    I know Investment Banking is in huge demand but still.. or is there no still? End of story. You go nowhere in life?
    I've heard investment banking's competitive, makes university applicants/place ratios look 1:1 Will you really survive in a competitive environment with a 3rd?

    No people with 3rds are not all screwed, look at philip pullman, though admittedly he did get his degree in english from oxford...

    I f you don't get into IB then go doing something else.
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    (Original post by Mysticmin)
    No people with 3rds are not all screwed, look at philip pullman, though admittedly he did get his degree in english from oxford...
    People like Phililp Pullman and Carol Vorderman are very much the exceptions, not the rule.
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    (Original post by Alexander)
    People like Phililp Pullman and Carol Vorderman are very much the exceptions, not the rule.
    3rd from oxon, 3rd from cantab. How balanced...I didn't realise she had a third.
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    (Original post by Mysticmin)
    3rd from oxon, 3rd from cantab. How balanced...I didn't realise she had a third.
    She got a third in engineering.

    I don't think Philip Pullman's degree classification makes any difference one way or t'other. There are plenty of writers out there who've never set foot in a university.

    Anyways (as they say in my favourite city) I don't think this will be of much comfort to our friend who initiated the thread. He appears to have his *heart* set on investment banking and it *appears* as though nothing else will do.


    http://www.philip-pullman.com/pages/....asp?PageID=84

    It appears that he didn't particularly enjoy his time at Oxford:

    'What I should have done, I realise now, was go to art school and learn to paint and to draw. But the way to that had been barred years earlier at school. Art was for those who weren't clever. If you were clever, you had to do Latin. I don't regret the Latin, but I do regret missing the art.'
 
 
 
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