Cimthayne
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#81
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Gosh, it is honestly bizarre to find this here. I posted this several years ago (I believe) on r/finance, after a number of years of being pestered by various hopeful future bankers and a lot of misinformation on that subreddit itself. I've since deleted my account, but upon trying to find the thread via google, stumbled upon this seemingly well-preserved repost. I'm glad, though a little surprised, you've taken some of it to heart.

To reply to some recent (though several month old) posts, in case anyone in future stumbles across them, especially the ones regarding those rather ominous university figures (with 85%+ from Oxbridge/LSE etc..) I have to say that hasn't been my experience *at all* - in fact I'd be very interested to know where that data comes from. It's true more graduates are from targets, but remember - Oxford and Cambridge have many more students *interested* in finance, or with relevant connections, than the other places- the fact that the number of students at Manchester or wherever is much lower is as much about the fact that far fewer from Manchester apply than the fact that those who do don't make it!
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username738914
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#82
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#82
(Original post by Cimthayne)
Gosh, it is honestly bizarre to find this here. I posted this several years ago (I believe) on r/finance, after a number of years of being pestered by various hopeful future bankers and a lot of misinformation on that subreddit itself. I've since deleted my account, but upon trying to find the thread via google, stumbled upon this seemingly well-preserved repost. I'm glad, though a little surprised, you've taken some of it to heart.

To reply to some recent (though several month old) posts, in case anyone in future stumbles across them, especially the ones regarding those rather ominous university figures (with 85%+ from Oxbridge/LSE etc..) I have to say that hasn't been my experience *at all* - in fact I'd be very interested to know where that data comes from. It's true more graduates are from targets, but remember - Oxford and Cambridge have many more students *interested* in finance, or with relevant connections, than the other places- the fact that the number of students at Manchester or wherever is much lower is as much about the fact that far fewer from Manchester apply than the fact that those who do don't make it!
Wow, what a surprise to see the original poster! How have things changed for you over the years with your career? Have you noticed any new trends in grad hiring?

Thanks for the input re:Manchester.

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Cimthayne
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#83
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(Original post by Princepieman)
Wow, what a surprise to see the original poster! How have things changed for you over the years with your career? Have you noticed any new trends in grad hiring?

Thanks for the input re:Manchester.

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We're seeing a lot more diversity of people. Honestly, every year it seems the number of UK grads goes down and EU grads goes up. Hiring is still fine, some teams have really suffered, others are heavily staffing up. Short term the Brexit situation is a real risk, not that it really matters giving that the furthest we're likely to go is Dublin or maybe Amsterdam for passporting reasons, and everything will still be in English (and that's more some trading and mid-office, front office IB will probably stay in London regardless).

As for me, I shan't give too much away but things are going well Same place, same (good) people for the most part. Banking is a great industry *IF* you find a good team. I'd say the internship environment is probably a little more competitive. If I could revise the original post I'd probably change my guidance on working hours because some teams will see their interns stay very late - I was commenting more on my own experience, and frankly we're more relaxed than most.
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datboii
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Princepieman great post but do you think people who hire grads will look down upon the "soft" subjects even if it is from one of the so called target uni?

For example, will they prefer a mathematician from Warwick over a management person from UCL?
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username738914
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#85
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(Original post by datboii)
Princepieman great post but do you think people who hire grads will look down upon the "soft" subjects even if it is from one of the so called target uni?

For example, will they prefer a mathematician from Warwick over a management person from UCL?
Do you want to trade swaptions, or correlation swaps? Do you want to be doing quantitative research for a hedge fund, bank or prop shop? Yes, you'll probably not fit the bill with management but it would still be possible if you were some math god.

Do you want to do almost anything else? Nope, you're good to go

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AdeptDz
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#86
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Thanks for this post, by 17 is that first year of sixth form or second year (does it matter?) - on looking for work experience, do you have any more tips and where I should look to find work experience.. I really want to do everything I can to be an investment Banker

(sorry if I'm annoying you, I'm just determined and eager to find out more and you seem very knowledgeable... Any good sites to look at?


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username738914
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#87
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(Original post by AdeptDz)
Thanks for this post, by 17 is that first year of sixth form or second year (does it matter?) - on looking for work experience, do you have any more tips and where I should look to find work experience.. I really want to do everything I can to be an investment Banker

(sorry if I'm annoying you, I'm just determined and eager to find out more and you seem very knowledgeable... Any good sites to look at?


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Call local firms and google insight programmes targeted at your age group.

The other Qs you've asked in other threads are mostly pointless, I'm not going to make a roadmap of what exactly you should do in life. That's your job. And yes, competition is intense for any top career - deal with it.

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Cap.Henry Avery
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#88
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What can someone do if they got terrible GCSE grades from a terrible school, can't afford to spend years at a time in education until you are in your mid 20's? Due to background and socio-economic reasons.
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username738914
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#89
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(Original post by Cap.Henry Avery)
What can someone do if they got terrible GCSE grades from a terrible school, can't afford to spend years at a time in education until you are in your mid 20's? Due to background and socio-economic reasons.
Bite the bullet and get on with your education, if you actually are serious about getting into high finance. There are people with worse grades, more unfortunate circumstances and even terrible universities on their CV that battle their way in - you can't make excuses.

If you aren't willing to go through with your education, then find a higher apprenticeship of some kind to do instead - just know it'll be in back office or IT or accounting and not the revenue generating stuff.

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Cap.Henry Avery
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#90
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(Original post by Princepieman)
Bite the bullet and get on with your education, if you actually are serious about getting into high finance. There are people with worse grades, more unfortunate circumstances and even terrible universities on their CV that battle their way in - you can't make excuses.

If you aren't willing to go through with your education, then find a higher apprenticeship of some kind to do instead - just know it'll be in back office or IT or accounting and not the revenue generating stuff.

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Ok, ok how much longer roughly would I have to be in education then. Because if I'm going to do this I'm going to have to get a part time job as a source of income, over wise I'm going to be homeless, my dad wants me out soon as.
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username738914
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#91
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(Original post by Cap.Henry Avery)
Ok, ok how much longer roughly would I have to be in education then. Because if I'm going to do this I'm going to have to get a part time job as a source of income, over wise I'm going to be homeless, my dad wants me out soon as.
Destroy your a-levels and get into a top uni, failing that, any decent university.

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Cap.Henry Avery
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#92
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(Original post by Princepieman)
Destroy your a-levels and get into a top uni, failing that, any decent university.

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Yes, yes you are right you beautiful pie eating ******* yes! To hell with my dad I'll go homeless if I have to. I'm going to take A levels, tear them a new one and sore to the ****ing heavens!!! Yes!
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username738914
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#93
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(Original post by Cap.Henry Avery)
Yes, yes you are right you beautiful pie eating ******* yes! To hell with my dad I'll go homeless if I have to. I'm going to take A levels, tear them a new one and sore to the ****ing heavens!!! Yes!
That's the spirit

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AdeptDz
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(Original post by Princepieman)
Call local firms and google insight programmes targeted at your age group.

The other Qs you've asked in other threads are mostly pointless, I'm not going to make a roadmap of what exactly you should do in life. That's your job. And yes, competition is intense for any top career - deal with it.

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Thanks anyway 👍🏾


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MDmcDeeezeNuts
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How to get a job in high finance:

Step 1: Get gud kid
Step 2: Use family connections to get 20 spring week offers
Step 3: Realize banking isn't all that its cut up to be.
Step 4: Commit Sudoku
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eniet
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Hey! I have a couple of small questions regarding the process you outlined:

1. Is living in London during a summer internship feasible with intern pay / how do people fund their spring weeks?

2. Does my status as an EU student put me in a worse position compared to UK nationals?

3. Is it necessary for me to have work experience prior to university? My CV here is unfortunately very weak; only a part-time job as a cleaner a couple of years back, and nothing in the last 3 years.

4. And forgive me if I missed something you wrote, but could you clarify whether first-year students without prior experience should even try to apply to summer internships between years 1 and 2?

Thanks in advance, if anyone has time to answer.
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gr8wizard10
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#97
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(Original post by eniet)
Hey! I have a couple of small questions regarding the process you outlined:

1. Is living in London during a summer internship feasible with intern pay / how do people fund their spring weeks?

2. Does my status as an EU student put me in a worse position compared to UK nationals?

3. Is it necessary for me to have work experience prior to university? My CV here is unfortunately very weak; only a part-time job as a cleaner a couple of years back, and nothing in the last 3 years.

4. And forgive me if I missed something you wrote, but could you clarify whether first-year students without prior experience should even try to apply to summer internships between years 1 and 2?

Thanks in advance, if anyone has time to answer.
1. yes, and generlly banks will pay your 1k - 2k sign on bonus upfront to cover relocation costs

2. not really, banks care if your good or not

3. experience helps but its not a pre-requisite

4. you lose nothing by applying
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username738914
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#98
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(Original post by eniet)
Hey! I have a couple of small questions regarding the process you outlined:

1. Is living in London during a summer internship feasible with intern pay / how do people fund their spring weeks?

2. Does my status as an EU student put me in a worse position compared to UK nationals?

3. Is it necessary for me to have work experience prior to university? My CV here is unfortunately very weak; only a part-time job as a cleaner a couple of years back, and nothing in the last 3 years.

4. And forgive me if I missed something you wrote, but could you clarify whether first-year students without prior experience should even try to apply to summer internships between years 1 and 2?

Thanks in advance, if anyone has time to answer.
1. For spring weeks you get your travel reimbursed and get put in a hotel. Summer analyst pay is pro-rata of full time analyst pay, which is £50k for front office at the moment. Translates to close to £1k a week + usually a £1-2k signing summer analyst bonus. Most interns just use spare university accommodation.

2. No

3. It's not 'necessary' but as this is a competitive industry, it would put you in better stead if you had stuff. But, don't look down on your cleaning job, that shows a hell of a lot more grit than a shadowing experience gained through contacts.

4. There aren't many formal programmes for first year summers, but a few places do them (e.g. HSBC and BNY Mellon). You're better off spending your time either travelling, trying to work at a startup or get internship experience by cold calling.




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22chicken
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#99
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So if I were to follow all the steps (summarising a little):
Insight programmes/work experience in IB while in high school, Spring Weeks and Summer internship while in year 1, some more small insight days/ work experience weeks and summer internship in year two whilst attending a target;

Would I be a highly desirable candidate? Or are mostly all applicants doing the same? Will completing these steps mean that the only things holding me back from making it into a BB be stupid mistakes, poor interview skills and personality? Excuse me if i sound ignorant. Thanks
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gr8wizard10
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#100
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(Original post by 22chicken)
So if I were to follow all the steps (summarising a little):
Insight programmes/work experience in IB while in high school, Spring Weeks and Summer internship while in year 1, some more small insight days/ work experience weeks and summer internship in year two whilst attending a target;

Would I be a highly desirable candidate? Or are mostly all applicants doing the same? Will completing these steps mean that the only things holding me back from making it into a BB be stupid mistakes, poor interview skills and personality? Excuse me if i sound ignorant. Thanks
a lot of others would be doing the same, but that's generally the progression nowadays. what would hold you back yes is poor interview skills & the luck involved in getting them in the first place.
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