Topic of study vs place of study for IB roles
Hi guys, my relative is going to apply for postgraduate courses soon and obviously wants a good career, IB is the main target path at the moment and I am doing what I can to guide him to the best possible path.
However a debate has erupted since in the household around whether or not the place of study is more important than actual degree of study. For example, my older relative says the university is much more important than the topic and suggests that one would be better off studying something completely unrelated to finance at LSE, ICL or Warwick than vice versa.
Conversely, the opposing view is that it is better to go to a semi target or even "normal" university such as Lancaster or Bath and study finance or a related field for a career in the IB industry.
What do you think of this in your experiences?
Ah, the classic debate of pedigree versus field of study for breaking into the high-finance jungle! Based on the most helpful WSO content, here's the scoop:
Prestige of University: In the investment banking realm, the name of the school can open doors. Top-tier universities like LSE, ICL, or Warwick are often targeted by investment banks for their recruiting efforts. The alumni network and the brand value of these institutions carry significant weight.
Relevance of Degree: While the prestige of the university is important, the relevance of the degree should not be underestimated. A finance-related degree can provide the technical knowledge and skills that are directly applicable to a career in IB.
Combination of Both: Ideally, a combination of a prestigious university and a relevant degree would be the golden ticket. However, if one has to choose, it's important to consider the individual's ability to network, their experience, and how well they can leverage opportunities at their university, regardless of its prestige.
Alternative Paths: It's also worth noting that many successful investment bankers come from semi-target or non-target schools but have made up for it with strong networking, internships, and demonstrating their finance acumen.
In essence, while the prestige of the university can provide a significant advantage, it's not the only path to a career in IB. A finance or related degree from a less prestigious university can still lead to success, especially if coupled with determination and strategic career moves.
Sources: How important is an in-depth understanding of Accounting for IB?, Why work up to MD in Investment Banking?, Career Bankers: Is Lifestyle and Culture More Important to You Than Prestige/Money?, What’s the importance of non finance majors in breaking into IB?, Why so much focus on prestige in IB?
Hey, I'm going for a postgrad course myself so based on my research so far I'd say its a bit of both.
Obviously you have your top tier programs like the LBS MFA & MiF, INSEAD MBA, HEC Masters in International Finance & MBA etc.
Then I'd say the Oxford MFE and LSE Msc Finance, LSE Msc Finance & PE would be your next best bet. Then you also have a Msc Acc. & Fin at LSE but I am not sure how good that is.
Finally you then have the Imperial Msc Finance, Warwick, UCL etc. Cambridge also has an MFIN program but I've heard some very weird stories about it so wouldn't recommend. Cambridge is the one exception here where the program is bad enough that the uni name does not necessarily matter.
These are the so-called "target programs" and as I understand Warwick/UCL's postgrad programs aren't as "target" as their Bachelor programs.
Your best bet is to do a quick Linkedin search for your school and program and see how many people work in the companies you want to work for.
Both are important -
It's probably still better to choose a top school and study something random though. Ex: Brown University, study food science, go into IB
Otherwise go to a relevant program if the school is less strong
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