FAQ: Do I have to go to a target school?
Long story short, no. There are a few ways to look at this, so read on:
Attending Target School
The upside to going to one of these schools is pretty obvious: on-campus recruiting, large alumni-base on the Street, great connections, you're making friends with people who will be working with you in the future, and you're guaranteed a world-class education if you use the resources offered.
There are downsides, however. If you don't think you can perform well (whether it's because you don't like the atmosphere or you don't think you're smart enough), then you probably shouldn't be going to one of these schools. You're also going up against a much larger group of students aiming for the careers you're aiming at. If you don't think you can stand out from the pack in some way, these schools probably aren't for you.
Attending a Semi-Target School
Attending a semi-target can offer you the best of both worlds. You will be in school with intelligent students who will undoubtedly go far in life, you will get a great education, and the atmosphere will most likely be a bit more laid-back than at a target. You also have the opportunity to set yourself apart from the pack moreso than at a target school.
The downside here is that you won't be with as many students aiming for the jobs you want. This has a couple of implications. First, you won't have as large of an alumni base doing jobs that you want to do. Second, you won't have as many strong connections are you progress in your career. There won't be as many firms recruiting on campus, either. Keep in mind the phrases "as large as" and "as many". You will still have plenty of connections and opportunities coming from one of the best schools in the country, but you may have to put in greater effort to show that you're on the same level as a Harvard grad.
Attending a Non-Target School
First of all, you have to understand that attending a non-target school does put you at a disadvantage. You will have to work A LOT harder than your fellow prospective monkeys at semi-target and target schools.
The downsides here are obvious: little or no on-campus recruiting, alumni in jobs you want and people aiming for the jobs you want. your education will be much more of a wild card, not necessarily because your school doesn't give you a good education, but because you won't be sitting in front of people in interviews that have been to your school and know that the quality of the education is as good.
There are actually more upsides than one would think. Because these schools are less selective you have the opportunity to outshine them. Get high grades, get leadership positions, get off-cycle (read: fall/winter/spring) internships, and you will be in a good position for recruiting. You're also not worried about competing against 100, 200, 500 of your fellow classmates for 30 positions. You will, however, have to be at the top of your class at that school. Not necessarily #1 (although that would help), but staying in the top 10-20% is imperative.
IMPORTANT TAKEAWAY:
If there's one thing to take away from all of this, it's this: Set yourself apart in some way. Whether you're at a target, semi-target or non-target you have to show that you are THE best option. Not a GOOD option, the BEST option. You do this with internships, extracurricular activities (leadership in clubs, sports teams, etc), and getting good grades. If you strive to be the best, you may not end up the best, but falling just short of being the best is a lot better than trying to be good and falling just short of being good. You determine your own future, so get on it!
Relevant Discussions:
- Non-target versus targets
- We shall overcome... non-target backed by the streets (Note that the original poster was trying to highlight the idiocy of the argument)
- Why do non-targets even try> (Note the original post was meant to spark discussion)
Additional Resources:
- Relevant WSO Guides: Internship Guide and Networking Guide
- Relevant WSO Services: Finance Resume Review and Wall Street Mentors and Career Coaching



