Brigham Young University Investment Banking
I'm considering an undergrad degree at BYU, and I already know that IB is my goal, specifically M&A or FIG. Last relevant post about BYU was years ago...how is their IB pipeline? And how is their reputation on the Street? Thanks in advance!
@Devotedbanker BYU's pipeline has grown a ton over the years, last year there were students placing at LZ, CS, GS, JPM, MS all of the main BB's and EB's. General rep on the street is they're friendly, hardworking and honest group of alumni. CEO of CS US-IBD is a BYU alum too.
The BYU investment banking club is a well-oiled machine. Great culture at the school where the older students with internships really take time to help the younger guys/girls. I recently placed at an EB from BYU, and I know lots of other folk that also placed really well.
What's EB?
EB = Elite Boutique. On WSO you can hover your mouse over an acronym you don't know and it will show the term. #HelpfulTips
@Devotedbanker The BYU brand gets stronger every year. BYU isn't a "target school", but it's DEFINITELY respected across the street.
Incidentally, I spoke with a VP a few weeks ago who said he "likes BYU kids because they work like hell and know how to hustle".
Spoke with an MD at a different bank (but also BB) who said that most recruiters look at BYU and say "okay, this kid could have gone anywhere, but chose to go to BYU b/c he's a Mormon" (No idea if you're Mormon or not). Bottom line, the brand will only help you. It will never hurt you.
Thanks so much for the quick feedback!
Definitely leaning towards BYU. I was accepted into a number of schools, including a target and another semi-target, but not sure if I want to take out tons of debt for a job I could get coming from BYU with no debt.
Plus I've heard great things about the finance program at the Marriott School. Skiing isn't bad either.
@Devotedbanker, good questions. I know that we like to hire as many BYU bankers as possible here at Goldman. They tend to be very scrappy, and not as entitled or cocky as we get from a lot of other places. Shocker, though--they're actually not all Mormons either. But universally hard workers and pretty dedicated group of people.
I'd disagree with @saynototheuniform in that BYU isn't a "target school." If it's not already, I'd say it's becoming one, especially since we built a huge office in SLC near BYU.
BYU places pretty good for a "non target" but this post is misleading. 99.999% of BYU is Mormon. If you are Mormon, that's great, if you aren't look elsewhere
@Devotedbanker honestly no one is going to consider your BYU resume next to a Harvard kid's. At least that's my first reaction. Like I guess we've hired a few of them at a couple of our locations, but unless you've had a really good internship and already know your technicals really well, it's probably not going to happen.
But I guess that's not giving them quite enough credit. They actually do have a surprising number of people across NY and other key cities. Kind of unexpected.
But is it worth taking on 100k in debt if I can get the same job from BYU? They seem to place well enough in GS/JPM/MS/CS to be reasonably confident in getting a job if I work hard.
If your not Mormon don't go to BYU just to get into banking lol. It is an incredibly different college experience than all other schools and there are few non-mormons that would actually enjoy going there.
I am Mormon, so that's not a problem. And I have lots of friends already going to BYU. The only reason I would go to another school is if I couldn't get into the bank I wanted from BYU (but with hard work it seems that's not the case).
Every BYU student that I have interacted with over this past summer did their SA at GS in NYC. BYU has the juice now!
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Agreed. I know several folk that turned down Stanford.
Didn't Mitt Romney transfer to BYU from Stanford after his Mission?
Good on you for this. It's great seeing people ask these questions before starting school - I was clueless at that time. Stay hungry.
Your liver will definitely thank you for choosing BYU. Sounds like a great program on the whole.
if you are mormon then yes, go for it; if you're not mormon, college life there is shitty. you really can't beat the ROI for BYU if you want to get into IBD.
Plus they now sell caffeinated beverages on campus
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BYU is a target for our office (BB in the Bay Area), and we do turn down Stanford kid for BYU kid purely based on performance in the interview. However, I would still recommend Harvard / Stanford or other top elite schools if you have offers from them. School brand goes a long way in your life so don't make decision only based on banking offer rate.
I've met a lot of BYU investment bankers and consultants through networking. I didn't know much about BYU a few years ago, but now I am pretty confident that Mormons look out for other Mormons more than any other organization would.
BYU placed no less than 29 students in IBD internships last year, 6 of which were at Lazard, 5 at GS, and 4 at CS.
Brigham Young Undergraduate? (Originally Posted: 08/22/2009)
Hello everyone,
I am considering transferring to Brigham Young University in Utah. I have another offer from Drexel University in Philadelphia, which has a much better location, but less famous reputation.
Could you give me some advices? Which one is better if I to work in IB?
Neither?
If you like bigotry, I guess that you will find BYU amazing.
After all, it has limitations placed upon "expression with students or in public that: (1) contradicts or opposes, rather than analyzes or discusses, fundamental Church doctrine or policy; (2) deliberately attacks or derides the Church or its general leaders; or (3) violates the Honor Code because the expression is dishonest, illegal, unchaste, profane, or unduly disrespectful of others.
Oh, also: they tell you how to cut your hair.
Amazing school. Must get laid quite often!
If you really consider sacrificing your life and career in the name of religion, I would go for BYU. Drexel being on the East Coast won't help much with recruiting. I reckon it should be difficult as a BYU grad too, but you will still have better professional prospects overall.
As I understand it, BYU has fantastic recruiting. I'm absolutely opposed to Mormon doctrine, but Mormons are very friendly, law abiding, helpful, respectful, polite, and overall great citizens. And again, BYU has great recruiting and a fantastic reputation. I just don't understand why a non-Mormon, non-athlete would choose to go to BYU...
Thanks for your replies,
It's because I'm an international and I have limited fund for my education. Therefore, BYU's cheap tuition is appealing. I'm getting a full scholarship at my current college, but it's such in business. I'm not a mormon, but I'm fine with religious circumstances.
How about MBA feeding? Do you know anyone at the top MBAs that went to BYU?
Wharton loves BYU
"Cowards die a thousand deaths, but the brave only one," Bill Shakespeare
i've heard companies like byu grads because they're usually moral and dependable on the job
hmm Is it really ture if you go there..you will be converted to Mormom?
@tybbal08: it's $8000 a year for non-Mormon. Still cheaper than most place. I also think they will try to convert me to Mormon but I've lived long enough to know what I believe in.
Does anyone knows about BYU's Finance? Business Week include GS in the top hiring firms for BYU grads, but I doubt it.
this is true. However keep in mind that this hiring refers to the huge operations and IT office GS has up in Salt Lake.
BYU places about a dozen people into IB/S&T each year. But you have to be at the top of the class. You can do it. But you've got to be good and work at it.
BYU must place more than a dozen people into IB! I mean, Virginia Tech places about 2 dozen into IB each year.
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You'd be surprised how many Mormons go to HBS/Stanford/Wharton.
I have a few colleagues in my firms who went to BYU and are mormons. They're nice people, and great to hang out or work with... I remember my career center showed us the rankings for "best career centers" in 2009, and they were so proud to come in 3rd. BYU was first.
anyway, i think it is one of the best return on investment for your education. Only problem might be you're not getting the US college experience you came for (you said you were international).
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And lets face it... do you really think the majority of international students really get the American college experience? I've always noticed that a lot of international students (I'm thinking of asians) tend to be very cliquey and keep to their own. They don't strike me as the partying type. I'm not being racist here, but this does seem to be a cultural thing.
I an international student, and I definitely agree with this. I guess it's the same for international students of any country that you find people you're comfortable with, and can connect well with. Coming to the US is a daunting feat, away from home and everything, plus some are not that fluent in english as opposed to their native language.
I'm asian as well, so i definitely understand where you're coming from. However, it's up to the individual to go out and meet people and get out of his/her comfort zone. It's a cultural and a language thing, and I guess that's the same reason expats (british, americans, etc...) tend to hang out with themselves instead of the locals too... doesn't mean they don't get the experience...
You've got two kinds of international students. The Chinese ones, and the Germans. Chinese people are shy and Germans are party-goers.
You can always drink on the sly at BYU... the funny thing is no one would ever expect it. Go out to good-clean-fun events wasted and people will just think youre an eccentric goofball.
BYU has a strong network for a non-target but you would lose out on a lot of it by not being mormon.
Brigham Young (Originally Posted: 03/10/2007)
the school is rediculous
From what I know, Brigam Young has the best accounting program and are reknowned for their ethics. Many of them have served these two-year missions for their church, giving them above average communication skills and extracurriculars.
As for firms, I've heard most BB firms either come to their campus or hire students when they fly out. Not sure if this answers your ?, but just what I know. As for those I have met from the university, they have seemed to be more than prepared and highly qualified.
that they also give you a free book.
Maybe that's why they get ranked so highly...people like their free books.
As far as the best accounting program, I believe U of I has the best accounting program.
Yeah, but does U of I give you a free book?
Mormans are likely to pick BYU over Harvard. BYU, given its rank in USNEWs, places very well into top grad programs (law for one).
BYU into Harvard law: 29 last year Michigan: 23 Amherst: 19 Williams: 17 Dartmouth: 35 Georgetown: 32 MIT: 13 UVA: 19 NYU: 20
Obiviously there is a good number of very smart people at BYU.
Because they're always reading that book of theirs. I'm telling you, they will give you a free copy.
Is there a correlation between lack of partying/sex that contributes to their ability to study hard and get into top grad programs.
Nonetheless, 29 placement into Harvard Law is very impressive.
I personally know several people that could've gone, and did later for grad school, to any Ivy, yet they chose BYU for u-grad. The accounting program is always ranked top 2 or 3 (along with UT-Austin and UI), and their students are usually more mature (due to age) and focused on academics since there is no partying. The school stresses ethics and humility so generally they make great employees. You might not see many in IB or top tier finance because the family is also more important to them than career. Of the few that I knew who wanted to do IB, most of them are at places like Goldman, Lehman, or UBS.
The reason BYU has such high marks is because a lot of guys who COULD get into Harvard and other top schools for undergrad choose to go to BYU because BYU has people with their own standards. Also, these same people want to go their to find girls to date who they could eventually marry (sounds a little hokie, I know). I'm not one of those really smart guys, unfortunately, but I know several who are. My brother went to Wharton for undergrad but switched over to BYU because the people at BYU had the same standards he did (please don't take this in some sort of "holier than thou" type of way). My sister got a letter from Harvard when she was in high school, inviting her to apply for Harvard. She went to BYU and majored in accounting.
Also, many of graduates are older and went on two-year missions. I went on one and they are BRUTAL. You get up at 6:30 am EVERY day, study in the mornings and proselyte from 9:30am to 9:30 pm. You do this every day for two years (except one day per week when you spend from 9:30 am to 6 pm doing laundry, buying groceries, cleaning the apartment, etc.) If you do have time left after doing these things, you may relax and do whatever you like). You only have Christmas and Thanksgiving off. You can only call your parents twice a year (Christmas and Mother's day). You get rejected ALL of the time. It's not like you're selling pest control. You're selling your beliefs - something that's so much more a part of you than any product. Thus, when people reject you, it hurts a lot more. However, you just pick yourself up and move on. This type of experience really forces you to grow up. Also, missionaries are sent to places where they learn different languages. The CIA and FBI love recruiting at BYU because SOO many people know different languages. BYU has one of the top (at least, I've heard this - I need to research this out still) linguistics program in the US. This makes BYU students very marketable for international business.
I REALLY, REALLY hope that I didn't come across in any type of self-righteous or pious way. I really didn't mean to. This is just what I know and heard. Hopefully, this helps a bit.
Mitt Romney is one of those people I was talking about. I think he went to Stanford for undergrad but switched to BYU and graduated there before going to HBS (baker scholar) and Harvard Law School (Magnum cum laude)
I didn't know that. Obviously, you're familiar with that procedure.
BYU is fiercely competitive amongst students. Their undergraduate business program is what it's cracked up to be. I personally know BYU grads who have attended law school at Columbia, Chicago, b-school at Harvard (I know three of them), Columbia, Chicago and Wharton. Not surprisingly, these people as well as other BYU business grads I know have worked or do work for BCG, Bain, Bain Capital, Deloitte, Merrill Lynch, KPMG, McKinsey, Mercer Mgt. Consulting, Accenture, Skadden, and one that lives near me started his own private equity firm in Texas.
Like others had mentioned, their accounting program (both undergraduate and graduate) is consistently ranked 2nd or 3rd by the Public Accounting Report.
The students are usually a couple of years older, like others had mentioned, and are generally hard working and great communicators. BYU undergraduates get into many, if not most, top graduate programs around the world.
Not to mention, the cost of tuition is much, much cheaper than even most state schools. It is subsidized by the Church of Jesus Christ of Latter-day Saints (both members and non-member alike get this discounted tuition). It is a very conservative school though, with stricter rules, which drives away many who are not members of the school's mother institution.
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You're right, members of the Church get the cheapest tuition rates, but non-members really don't pay that much more and the rate they pay is still far below what you'd pay at most top-50 schools.
Was the original question about their b-school? Their undergrad b-school? or their graduate programs in general (MAcc, etc.)?
I have a lot of respect for their MBA program, but my guess is that in order to get into the more prestigious IB and mgt. consulting firms you'd have to do a lot of your won leg work. I.e., they most likely won't be coming to campus for BYU MBA students, though many big firms do recruit their undergrad students from the b-school.
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