Is transferring after sophmore year worth it?
Currently a rising sophmore at a top non-target (think Fordham, SMU, Villanova, Colgate, etc) and I hope to go into IB after college. Like everyone else, I hope to get into a top group at either a BB or an EB. My current school does not send many kids to top groups (maybe 4 kids max will get solid BB or EB offers every year) but definitely not a feeder school to those top groups. During freshman year, I spent significant time networking, learning modeling/excel, looking over interview prep questions, and doing everything I can to put myself in the best possible position come recruiting time. I currently have a 3.97 GPA as a math and econ major, am involved in a good amount of extracurriculars, landed a decent finance-related internship for this summer, and co-published economic research with a phD student.
That being said, I feel like I'd have a decent shot at transferring into a more well-known target school for my junior and senior year, with Duke, UVA, Ross, UNC Chapel Hill, and UT Austin being my main focuses. However, IB recruiting has become so accelerated these past few years that I see most people locking in their junior summer internships at the end of their sophmore year. So if I were to transfer for my junior year, would that even help me at all? I feel like all spots would be taken by then. Does anyone have any insight as to whether or not it'd make me better off or would I just be wasting my time? All insights are appreciated. Thanks guys.
Based on the insights from Wall Street Oasis, transferring from a semi-target to a target school can indeed enhance your prospects in investment banking, particularly at elite boutiques (EB) and bulge bracket (BB) firms. However, there are several factors to consider:
Timing of IB Recruiting: As you've noted, IB recruiting is highly accelerated. Many firms begin recruiting for junior summer internships as early as the end of sophomore year. If you transfer in your junior year, you might miss out on crucial recruiting opportunities because spots could be filled by the time you start at the new school.
Networking and Preparation: If you decide to transfer, it's crucial to begin networking and preparing for recruitment as early as possible. This includes reaching out to alumni, attending finance-related events at the new school, and getting involved in relevant clubs and organizations immediately upon transfer.
Brand Value of the School: Attending a target school like Duke, UVA, Ross, UNC Chapel Hill, or UT Austin can significantly boost your resume. These schools have stronger alumni networks in finance, which can be beneficial for securing interviews and offers.
Academic and Extracurricular Continuity: Ensure that your academic credits and extracurricular involvements transfer smoothly to maintain your GPA and continue building a strong profile.
Consider the Full-time Recruitment Cycle: If junior summer internship spots are filled by the time you transfer, target schools often have stronger full-time recruitment opportunities. This could still enhance your chances of breaking into top IB firms.
In conclusion, while transferring might present challenges due to the timing of recruiting cycles, the long-term benefits of a stronger brand and network associated with target schools can outweigh these initial hurdles. It's essential to weigh these factors carefully and plan strategically to maximize your opportunities in the new environment.
Sources: How to Approach 2020 SA Recruiting as a Junior Transfer to a Target, Worth Attempting to Transfer from Semi-Target to Target?, Should I transfer from my T20 semi-target to a stronger target?, Graduating early - worth it or not?, Are transfers really screwed?
I’m in the same position as you, I feel like it’s only worth it if you transfer after your fall semester sophomore year. The schools that take second semester transfers is limited, but still decent options. (UT Austin, UVA, UMich, Cornell) You likely won’t have access to the clubs in time for IB applications but having the better school on your resume will likely help drastically.
It sounds like you’ll do fine without transferring tbh
As context, I transferred colleges (top 30ish to Ivy), entered my new school second semester of soph year, and landed JPM SA the same semester.
For starters, you are already incredibly accomplished. Transferring schools will open you up to a larger network of accomplished alumni and significantly better career services (it makes a huge difference if you utilize career/alumni resources effectively). For me, this new network was my biggest help, and the quality of coffee chats I had significantly increased after I transferred. Alumni at top colleges tend to really want to help people who go to their Alma mater.
However, it is much harder to join clubs and Greek life as a sophomore/junior. I completely missed recruitment for all the business/finance clubs, so I had to rely on my resume from my past school w the network and academic credentials from my current school to carry me for IB recruitment. If you do transfer, make sure you contact the clubs you want to join as soon as you commit asking if there is any way you can be involved. If you transfer and enter your new school in the fall sem, club recruitment should be easier, but keep in mind many of the finance clubs and frats/sororities primarily recruit freshmen.
Obviously, your social life and academics will be impacted, but if you can keep your head down and grind, it’ll be ok. I personally made friends through transfer orientation and the one club I joined. Academically, I didn’t feel the difficulty jump from my old school to my current one was that significant, but many other transfers did, so consistently grind. Don’t be afraid to suck up to professors for the A or network.
Transferring was the best decision I’ve made for my career, so best of luck!
Thank you very much for this.
Ofc feel free to reach out—process is daunting but the rewards can be high
Avg no bid Colgate student.
Tach hasn’t invited you down yet??
lol not at Colgate lil bro
Okay u go to nova… u had what, a 3,7 in high school?
Is Colgate super Greek life heavy?
I can tell ur a nova kid. Transfer to somewhere like Emory or USC that is transfer friendly and a semi target. They’d be happy to have you and it’ll help you for the rest of ur career.
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