Any chances of getting hired by Investment Banks in New York and London WITHOUT business degrees in Canada?
Hi! I'm an Ontario gr12 student who is about to apply to the universities :)
I was just wondering if people from U of T or Mcgill with majors like psychology and political science could get hired by the investment banks in New York or London (as a intern during uni year and after graduation)?
I heard that majors don't really matter for Ivy League students in US but never heard about similar things about Canadian universities. The thing is I like big cities more than small cities, and the two best business school Queen's commerce and Western Ivey are not exactly in the biggest cities in Canada so I want to go to those two unis more but the thing is I want to apply for other majors than Rotman Commerce or DeSautels. Can you guys give me some advice about this and give some propects about this matter if I aim for investment bank after uni graduation?
At Desautels, pretty much the only people who had a chance at IB in NYC were those in the honors investment management (HIM) program, which requires you to be initially enrolled in a business major.
If you're in poli-sci at McGill and you want a shot at IBs in NYC, it's going to be really hard in my opinion. You would have to either graduate as valedictorian, achieve an incredible GPA, or have some other differentiating factor.
Again, this is just my opinion, but I think that by enrolling in a non-business major at Rotman or McGill, you're drastically reducing your chances of getting into IB in cities like NYC. Just getting there is hard, so why would you want to make it even harder?
Hi! Thank you for your response. It really helped me to get a better idea about this. Do you think going to Mcgill or U of T and aiming to transfer to Ivey HBA after the 2nd year would be a good strategy? I know getting accepted to Ivey AEO increases better chance for HBA but the thing is I really want to study at the uni in big city and I know in AEO they don't really learn that much about business, so honestly aiming to transfer from Mcgill or U of T to HBA would be best for me in terms of my own satisfaction but it's too risky.
The benefit of transferring to Ivey HBA has been decreasing because recruitment starts super early nowadays. You would be recruiting for 3rd year summer internships before you can even transfer to Ivey. The good thing about Ivey is its alumni network. If you study at UofT in first and second years, you will not be able to leverage that.
If you are seriously about investment banking, go to Ivey or you will regret. Rotman or McGill do not even place well in IB in Toronto, let alone NYC and London.
coming from a math + psych major at a HYSPM. Psych is bullshit anyway. The behavioral principles are just said over and over again. Sometimes you get hints of neuro sometimes you do some basic stats. In the end, a general psych major might be easy but doesn't help you at all. In addition, ivy schools and equivalents are pretty selective and have small class sizes. They also don't really have business/finance majors except for a handful. McGill and UT are definitely the best schools in Canada, but they are large schools with acceptance rates ranging from 40-50%. They are fantastic schools, but why would they give a psych major any time of day instead of a grinding business/finance student given the large student body? Don't shoot yourself in the foot.
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