The Student Room Group

What can I do in the first year of uni to get into IB?

So I'll be starting university this september on a 4 year course with an additional year abroad making it a 5 year course.

Is there anything I can do in the first year so that I can get the experience needed for IB?
I've looked at spring weeks but they are not available so I just wanted advice on this matter.

Thanks
Reply 1
Can I ask why you want to work in IB? 20yrs ago the perception of the financial industry was very different to how it is today, I am wondering what appeals to you about a job in a bank? Is it just about money?
Reply 2
Well the money is a factor, but also I have a massive interest in finance, so learning how these corporations work will be one way to understand how things work. I know it requires a lot of hours, yet I still want to have a feel for all of this early on my career.
Reply 3
If you took the money away from finance, almost everyone I know who works in the industry would do something else. Of course you have to feign an interest to get the job but the hours are long, everyone is out for themselves and the impact on society is negative. I’ve worked in the industry for a decade so I have experience of it.

We should be encouraging bright individuals coming from universities to pursue something that will solve a problem, something that has an impact and something that they genuinely have an interest in and can provide them a good standard of living.

I doubt this post will change your mind, but please try and consider what you might do if you find you don’t actually like finance, far too many people are not happy in the sector and want to leave but have no idea what else they could do. You are in the fortunate position of being able to formulate a backup plan if that turns out to be the case.
get relevant experience - apply to internships in other areas of finance
Reply 5
Original post by splking
If you took the money away from finance, almost everyone I know who works in the industry would do something else. Of course you have to feign an interest to get the job but the hours are long, everyone is out for themselves and the impact on society is negative. I’ve worked in the industry for a decade so I have experience of it.

We should be encouraging bright individuals coming from universities to pursue something that will solve a problem, something that has an impact and something that they genuinely have an interest in and can provide them a good standard of living.

I doubt this post will change your mind, but please try and consider what you might do if you find you don’t actually like finance, far too many people are not happy in the sector and want to leave but have no idea what else they could do. You are in the fortunate position of being able to formulate a backup plan if that turns out to be the case.

I would like to do something better with my degree or "solve a problem" but unfortunately those types of careers require a masters or PhD (at least in the field I find interesting which is Economics) and I simply cannot afford it. Investment banking is not only a way to raise the required funds but would also be a great learning experience. I think most people aren't interested in investment banking for the entirety of their career.
Reply 6
Original post by goatiee
I would like to do something better with my degree or "solve a problem" but unfortunately those types of careers require a masters or PhD (at least in the field I find interesting which is Economics) and I simply cannot afford it. Investment banking is not only a way to raise the required funds but would also be a great learning experience. I think most people aren't interested in investment banking for the entirety of their career.

This notion that people require a PhD to do something, to solve a problem.. rubbish! If you are curious and enjoy learning and you have the ability to absorb information, and then use it.. you can do anything without those 'stamps'.

https://www.cnbc.com/2018/08/16/15-companies-that-no-longer-require-employees-to-have-a-college-degree.html

The list is growing.. As I have already mentioned to someone on the forum, the financial revolution was one that the UK got ahead of and was a very lucrative industry, but it is in decline. Just like revolutions of the past, finance is on the decline, students would be wise to try and anticipate the skills and industries that will be the growth sectors of the future.

Three decades ago a career in the city was considered a job for life, then it became a stressful job with the aim of people trying to make it big in 20yrs or so and then wrapping up and retiring, now.. it may not even keep you in a seat for a decade, and that's if you get in. To earn the big bucks, well you need to be very good in an increasingly competetive market.

The natural flow of human capital in the last few years has been out of finance and into startups. Startups is such a broad term, but for you guys that is great news. Your skills/education should reflect the demand for people who can solve current problems, social, economic, environmental. Focus on developing a broad range of skills that will stand you in good stead, rather than honing a narrow set that work for a soon to be redundant role.
would largely agree with splking - i left investment banking to go work at a startup that is help solving a key challenge in the modern world
Reply 8
Original post by splking
This notion that people require a PhD to do something, to solve a problem.. rubbish! If you are curious and enjoy learning and you have the ability to absorb information, and then use it.. you can do anything without those 'stamps'.

https://www.cnbc.com/2018/08/16/15-companies-that-no-longer-require-employees-to-have-a-college-degree.html

The list is growing.. As I have already mentioned to someone on the forum, the financial revolution was one that the UK got ahead of and was a very lucrative industry, but it is in decline. Just like revolutions of the past, finance is on the decline, students would be wise to try and anticipate the skills and industries that will be the growth sectors of the future.

Three decades ago a career in the city was considered a job for life, then it became a stressful job with the aim of people trying to make it big in 20yrs or so and then wrapping up and retiring, now.. it may not even keep you in a seat for a decade, and that's if you get in. To earn the big bucks, well you need to be very good in an increasingly competetive market.

The natural flow of human capital in the last few years has been out of finance and into startups. Startups is such a broad term, but for you guys that is great news. Your skills/education should reflect the demand for people who can solve current problems, social, economic, environmental. Focus on developing a broad range of skills that will stand you in good stead, rather than honing a narrow set that work for a soon to be redundant role.

Like I said in my previous post, I'm interested in Economics and that does require a postgraduate degree, and economists can do a lot more than just write code at Google or stack shelves at Costco. But I completely agree that it's not a long term career and I never said it was, but it does give you opportunities, money and experience. @gr8wizard10 I'm sure your background in investment banking helped you secure a job at a startup that you were passionate about, not saying that it's impossible without but it's not as if it was a complete waste of time.
Original post by goatiee
Like I said in my previous post, I'm interested in Economics and that does require a postgraduate degree, and economists can do a lot more than just write code at Google or stack shelves at Costco. But I completely agree that it's not a long term career and I never said it was, but it does give you opportunities, money and experience. @gr8wizard10 I'm sure your background in investment banking helped you secure a job at a startup that you were passionate about, not saying that it's impossible without but it's not as if it was a complete waste of time.

yes, agreed.. the skills you pick up in banking is useful
Reply 10
300+ years ago modern physics began right here in the UK with Newton and his discoveries of the laws of gravity and motion.
250 years ago the steam engine was invented by James Watt which revolutionised work intensive tasks.
215 years ago the industrial revolution began here in the UK as iron and steel and textiles were produced.
190 years ago the first railway was built here in the UK which laid the groundwork for mass adoption of rail infastructure across the developed world.
180 years ago Charles Babbage developed the first analytical engine, a mechanical device but it formed the basis for development of computers as we know them today.
160 years ago in the UK, Darwin hypothesised the theory of evolution and natural selection.
125 years ago the UK pioneered the development of the modern sewage treatment plant which helped reduce the spread of disease
90 years ago the first antibiotic was discovered by Alexander Flemming h.ere in the UK
65 years ago the chemical structure of DNA was worked out here in the UK
35 years ago the internet was developed (significant credit goes to UK scientists)
25 years ago the first sheep was cloned in the UK

The UK has been at the forefront of development in the last 300 years thanks to some brilliant minds that have been cultivated. From the scientific revolution, to the transport revolution, through the industrial and economic revolutions, to the financial revolution, this small island has outperformed by being ahead of the curve. I believe this is because in the past we have supported and encouraged abstract thinkers, impressive scholars have been respected and applauded.

The generation of current students carry the hopes of a nation with high expectations. I would encourage anyone going to university now to realise that the opportunity afforded to them in this country allows them to be one of those visionaries. When I see companies like Deepmind developing cutting edge AI I get excited because I feel as though once again the UK is developing the tech of the future. Challenge the status quo and build something powerful, finance as it exists now is such a terrible waste of great talent.
@splking @gr8wizard10 @goatiee

Thank you for your contributions. Im gaining a better understanding of what is it that I should be focused on. However, that being said I do feel like going into IB will allow me to raise funds to provide for a PhD, should I choose to pursue it. I don't want to stay in finance forever but be able to go out there and create a business. This is for the very long term, yet I still am not sure yet. I would want to focus on my degree for now and try to get that 1st.

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