I didn't do so well in high school and got a 3.4 gpa and am going to Rutgers next year. To stay productive I am learning python and will eventually try to learn algorithm trading and I am reading up a lot and staying updated on the market. What can I do from now on to maybe have a shot at IB?
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You don't need to know Python or algorithm trading to go into IB. Learn about IB so you fully understand what it is, network, try to land a finance-related internship for the summer after your freshman year, and try to transfer to another school.
Does it matter about the proximity to the city if I transfer? I don't think I'd get the same opportunities attending UMich that I would get at Rutgers.
Just my $.02 - UMich will 100% get much more attention than Rutgers in terms of IB. Does this mean you won’t get an offer if you stay in Rutgers? No, of course not. I’ve seen so many no-name school students at my BB. But your probability/chances of breaking in (especially with an SA role, not full-time recruiting) are definitely improved when you’re at a school that has a larger presence on the Street.
You don't always have to transfer its a respectable semi target
Study hard Study hard Study hard
I went to Rutgers feel free to PM me for advice
transfer
Does it matter about the proximity to the city if I transfer? I don't think I'd get the same opportunities attending UMich that I would get at Rutgers.
No it does not lol
obtain a high gpa
Get straight As, transfer to NYU stern or Columbia in 2 years.. straight As there too and try to do an internship every summer. Master the concepts (accounting, valuation) early, you're ahead of the curve if you start now.
I went to Rutgers for 2 years and transferred to NYU Stern (graduated 2015). To be very frank, it is very difficult to break into IBD (or any front office position) from Rutgers. The odds are stacked significantly against you (for instance, none of the banks recruited there for front office, at job fairs you will only see Big 4 and Fortune 500 finance positions, etc). When I was a student there, we had a class about ~500 in the business school and I knew about 5 who actually made it into either IBD or S&T (they all had near 4.0 GPAs and networked their butt off).
I would highly recommend joining the club "LIBOR" - Little Investment Bankers of Rutgers, as Rutgers alumni from various banks came back and held informal info sessions with students. My advice would be to get a 3.7/3.8 GPA after one year (not difficult to do), and transfer after 1 year to a school like UVA, UNC, NYU Stern, etc. The only reason I didn't transfer after 1 year was I didn't have enough credits (transferring didn't really hit my mind until my 2nd year). If at all possible, I would do it after one year, so you are playing less catch-up at your new school in terms of networking, courses, making friendships, etc. One of my best friends from Rutgers transferred the same year as me, we both got into Stern but he also got into Georgetown and got a full ride there (he had a 3.95 GPA).
Best of luck.
Is it worth applying to UNC or UVA since they don't provide the same internship opportunities as NYU? Also, I heard only about 2% of transfers get accepted into NYU, will going to Rutgers Newark vs New Brunswick play any factor in my admission? I got into RBS Newark and SAS NB. Not sure which one to go to.
You are correct it is harder to get into Stern since they are accepting more people from their own schools (such as NYU CAS, etc.) rather than from other schools. Not sure why this is but I guess it improves yield. After a certain point, it doesn't matter which college you go to as after a certain threshold, you will be fine in terms of IBD recruiting. It all comes down to whether or not banks recruit on the campus. This is usually for Ivys, and schools with top business programs or just top schools in general. This can be schools like Northwestern, UChicago, Berkeley, or even schools like Stern or UMich Ross.
Yes, you will have opportunities at UNC and UVA since banks recruit at those schools. You might even arguably have a better chance at IBD recruiting there despite the fact that NYU is in the city. The reason is that literally everyone from Stern wants to recruit for IBD, whereas I heard that at schools like UVA (which is comparable to Stern), only some people want to go into banking. So the banks that recruit at each are the same, but your chances might be slightly higher at UVA just given there is less competition. However, NYU is in the city which is better for networking as you can meet people for coffee on a regular basis as opposed to just speaking on the phone or taking weekend trips. There are also other things to consider as UVA has basketball and football, a campus, and a less "cutthroat" atmosphere than Stern does. There's pros and cons to each.
Transfer
1) Transfer. Although you seem to be set on NYU, Michigan (Ross) and UVA are arguably better choices. 2) Learn python if it truly interests you, but it is not going to make a significant difference in your application process as programming is not a transferable skill with IB. 3) Change your WSO username to something that is not your first and last name.
Rutgers has come a long way since the inception of the Road to Wall Street program, but placement on Wall Street is still spotty. The school placed a few dozen people in front office roles (e.g. equity research, investment banking, sales and trading) at reputable firms the past few years (mostly bulge bracket, some middle market, and a sprinkling of elite boutiques).
**Academics**
While a 4.0 GPA is not required, you don't want to slip below 3.7. There are enough social, 4.0 GPA double/triple majors with finance experience that you'll have a hard time making the cut otherwise (networking can make up for a lower GPA in some instances).
**On Transfering (as a sophomore)**
The challenge of transferring is you're not able to leverage the alumni networks of either university effectively. If you transfer into Columbia or NYU as a first-semester junior you'll be out of luck for recruiting, because many firms will have finished interviewing for the following summer. You'll likely have to reclassify as a sophomore and stay an extra year.
**Newark vs New Brunswick**
If you want investment banking this isn't even a question. The alumni network, on-campus resources, faculty, and student organizations in New Brunswick are significantly better. The front office placement numbers speak for themselves. Newark sends a handful, New Brunswick send a couple dozen. I like Newark, but its strengths lay elsewhere.
Arguments that "you're closer to employers" are only valid if you're unwilling to spend 45 minutes traveling to the city via public transit. You're still close enough to go into the city to network.
**Road to Wall Street Program**
Look it up.
[Note: This is not an alternative to networking and participating in student organizations]
**Student Organizations**
*Little Investment Bankers of Rutgers (LIBOR)* - If you want to break into investment banking from Rutgers it will incredibly challenging without becoming involved in this club. Their resume books are how the majority of Rutgers students get front office interviews and internships. It's a great place to meet alumni, build your network, and learn from peers who "made it".
* Student Managed Fund - [mostly Freshman/Sophomores] A sub-unit within LIBOR for students who show promise and interest in pursuing a career in the front office. There is a competitive application process.
* Bender Trust Project - [Freshmen/Sophomores] A stock pitch competition hosted by LIBOR each fall semester. This is often underclassmen's first resume builder for the front office.
* LIBOR Financial Newsletter - [All Classes] This should be self-explanatory.
*Rutgers University Valuating* - A smaller club, but the executive board has the strongest set of valuation skills at Rutgers (IMO). Unfortunately, they are all graduating and the club may not be around next year. I can't speak to their alumni network pull. [Note: Can be helpful for banking, but is more technical than necessary]
*Quantitative Finance Club (QFC)* - The club is gaining some traction with graduate schools and quant recruiters with the inception of their "QFC Curriculum" but is still in its early stages with placing students on Wall Street. More-or-less requires a strong quantitative background going in (join if you're going to Rutgers to study engineering, math, statistics, computer science, etc.). [Note: Wall Street but not banking]
**Business Fraternities**
No comment.
**General Advice**
*No. 1: Learn the difference between investment banking, sales and trading, and equity research.*
* Get finance-related internships as close to investment banking as possible every summer. Freshman year target a Fortune 500 finance internship. Sophomore year try to break into a boutique investment bank. Junior year is make-it-or-break-it time, you have to lock in that dream internship.
* Network. Network. Network.
* Draft a perfect resume and have others rip it apart (M&I has a good template)
* Study investment banking interview guides. Memorizing/preparing answers to these questions makes up a significant portion of the interview process (understanding them helps too)
Also, have attention to detail and make sure you read the year correctly.
Hopefully, this helps people in a similar position who came after you.
you fucked up, should have went to baruch
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