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

Are investment banks elitist rather than meritocratic?

Hi, I’m a year 13 student and have just finished my A levels. I currently have ambitions to go to uni and find my way into investment banking, I’m hard working and see it as an ideal job. However recently I’ve had some conversations with people who’ve suggested that getting into investment banks is a different process than most would think.

I’m not arguing this is true but it was suggested that to get into an IB you would obviously have to show a track record of intelligence however also that there were “hidden requirements”. For example, they put a particular emphasis on finding likely privately educated students, with a upper/middle class name and accent, etc (Essentially a privileged background). It was also suggested that there’s a fair bit of nepotism too with many using family connections to secure themselves a place. I’ve heard it’s even worse in consultancy.

When I compare this to myself, I’m unsure whether I’d stand a realistic chance. Despite attending a low performing state funded school, I did fairly well academically. I have a very slight regional accent (I.e not posh) and have no family connections at all within the industry. This isn’t to say I’m not presentable, I’m comfortable wearing a suit and my voice is clear as far as I know. I believe I’d do well in a meritocratic environment however I’m concerned that elitism/nepotism, if it’s present, would be a concern.

Any answers or comments from anyone with an understanding of this topic would be appreciated, thanks.

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