Cumulative GPA that IBanks look at

Entire average.

In the USA there is no distinction between graduating GPA and cumulative GPA.

so does this mean that if you messed up one of your years of undergrad, that there is basically no way to raise your GPA? for example my first year i slacked and got a 2.8 then the rest of the years i'm getting 3.7. no matter what my graduating GPA is only a 3.4 then? is there any other way to raise it?? man theres gotta be a way!!

U are F***ked theres no pity for people that slack. If ur a sophomore transfer out and reset ur GPA.
It's a dawg eat dawg world.

Kind of a hard reply.

Try to get an interview and you can always explain why you got a bad GPA when you first started college and then point to the GPA trend since then.

I'm guessing there has to be another way. Grades aren't truly reflective of a person's ability and intellect. They just indicate how hard a person chose to work towards learning the material from the school books (that he/she will never be looking at again).

I know that majority of the people who slack off don't have the best shot at a foot in the door, but doesn't mean one should not pursue the career they don't want to.

It's not exactly ability and intellect they are looking for. It's how hard people try is what they are looking for. Obviously recruiters assume you can learn how to do something if you can get a 3.7+ GPA and you have enough intelligence to do well in courses. Theres no other way.

It's a dawg eat dawg world.

Well, in that case the last year or last two year's GPA would be considerd by them if a person has out performed in their last year. Good GPA in last year is a simple proof of the fact that the person can outperform and, thus, they have the ability to do the work.

Hey, whatever makes you feel better. I doubt when the HR or recruiter looks at 300 or whatever endless amount of resumes will consider the applicant with 2 semesters of excellent GPA, versus an applicant with ALL semesters of excellent GPA. This is considering that EC's and work experience equal. The problem is that work experience will probably not be equal. In most cases, the person with the higher GPA throughout all years found more internships at prestigious firms than the one that couldn't even break a 3.0.

It's a dawg eat dawg world.

You also have to consider the difficulty of the school, major, etc.

I'm sure Goldman values the 3.5 Math major at MIT more than the 3.7 government major at Penn State.

what about B-Schools? I know that GPA is a great consderation for admission but again, the same questions, will it be difficult given the poor performance for one year but excellent performance in all the others? [yes i know this should be in the B-School thread but since i already started a thread here :)]

Well GPA isn't quite as important for B-Schools as work experience (correct me if im wrong) and GMAT. I still think GPA will always be viewed as what it is throughout your four years. Atleast before you actually interview with them of course.
It's a dawg eat dawg world.

yes, the whole GPA issue can't be oversimplified. the 3.5 GPA is a good pyschological cutoff. but if you are at a non target school it better be a lot higher, and if you are at one of the top 5 schools in the nation where 50-70 kids go into ibanking a year, the scale and expectations definately slide down

How important is GPA for a lateral hire? Is it necessary?

It's still an small indicator of your intelligence and/or work ethic. But if you have been working in investment banking already, your deal experience, knowledge, and soft skills should put you on par with just about everyone else. That being said, all things being equal, GPA might be considered. Most people without a spectacular GPA that I know making a lateral move didn't even put it on their resume.

what exactly does cutoff mean? Does it mean if you meet the cutoff gpa, you will get an interview or just your resume will get looked at for the possibility of an interview?

Thanks for your help!

Means they will consider it for interview.
It's a dawg eat dawg world.

GPA's can always be mitigated, don't overlook synergies you have with firms for future progression. a lot of 4.0's are packing after maturing analyst roles.

I agree

Stop wasting space

i assume you have a 4.0...and out of work

i just needed to post to get a banana

dance monkey dance!!!!

Hey GameTheory,

You mentioned that you know people who didn't have a spectacular GPA still make it to I-Banking. I'm just wondering, what route did they take to go to I-Banking. Since having a bad GPA closes direct entry doors.

P.S. do you like Game Theory?

As with anything it is safe to assume that GPA is one of the major parts of an application that any recruiter is going to examine. But as has been previously said, it does not always tell the whole story.

If you screwed up in your first year, oh well. If you have the determination and drive necessary to succeed in this business, you will get a job and you will succeed, regardless of your GPA.

Thanks for all the help! One more question, on all the top BSchools like LSB, INSEAD and Chicago, they always say that they look at ALL criteria; that a bad GPA or low GMAT score does not eliminate your chances while a high GPA and High GMAT does not garantee entrance; they want to look at your "story" and "wow" factor.

Is this really true? or is it just a ploy to get more ppl to apply and they can make more money from application fees.

I always see their profiles of some art director who got in or some history major who got in but i'm just wondering if this is just a "everyone has a chance" scheme? and those are actually the only 2 ppl that made it in with while the other 800 people who got accepted are all Finance, Engineer SUPER high GPA GMAT lots of expereince guys??

sorry for hte long post and thanks in advance!!

By "spectacular" GPA I meant, 3.7+, just to clarify. You still need, at a bare minimum, probably a 3.2 or 3.3 to get into IB (assuming you're from a target, have excellent extra currics, etc.). I've seen kids that have lower GPA's get in from good contacts.

When I was addressing this question it was for a "lateral hire" situation, meaning a 1st year analyst switching banks. So I'm assuming they had a decent GPA. Most times it was a middle market analyst moving to a bulge bracket or a Tier II bank moving to a Tier I.

As far as pathways into investment banking with a "bad" GPA (not sure what your definition of "bad" is, but mine is under 3.2), the best chance you have is getting as relevant experience as you can (transaction advisory services at a Big 4, maybe a small unknown boutique), finding a good contact at a bank and lateralling from there. Or the best bet is just to get good work experience, get into a top tier business school, and come in as an associate.

Even within Ivies there are differences. Princeton, for example, has grade capping and its A- is worth 3.7 as opposed to a 4 in most schools. Wonder how may HRs know this!

In every school an A- is 3.67, B + is a 3.33 and so on, I didn't know ivies are special... wow aren't they lucky...

Even within the same school, there are sometimes substantial differences for different major. The career services would make such data eaily available to prospective employers. Will they have time to look at them?

My University has 7 Colleges and A- is an A- and is 3.67 in any major from electric engineering to women studies. But every employer knows that a 3.0 in electric engineering is not equal to a 3.0 in communications.

Not all schools have + - grading. So A-, A, A+ are all equal to 4.

A 3.4 will still likely get you many interviews. Make sure to make it a talking point that you had one bad year early in your college career and since have done much better.

Ok Thanks all for the great information, BUT what should i list on my resume or application because although my average GPA for the last 3 years is good but if i include my first crappy year my average drops. I need to first GET an interview before i can even explain why my cumulative sucks and so on. I understand that applications for BSchool will allow me to do so in my essays and such but how can i explain this to Ibanking firms. Should i put "last 3 year average was 3.7" plus "cumulative GPA is blah" ?

Thanks in advance for the advice.

Entire GPA. However play up grades in finance and accounting courses (or economics if you are liberal arts) if they are impressive.

Some liberal arts schools (Wesleyan, Claremont McKenna to name two) DO have finance and accounting classes (usually under economics).

I am junior, finance major at University of Florida. My GPA is 3.82, what are my chances of landing a summer intenship in I Banking at a top bank. Thanks in advanced.

"thanks in advanced"

ah, UF. you dont deserve to get into IB. us ivy kids give up a lot to pursue this career. fuck a UF twat who doesnt know how to write getting in.

Damn Danny you are so frustrated, lol.Probably because you ain't getting any pussy at you Ivy league school, lol. Come by Florida I'll help you get laid fuck face.

Please, I have no problem with you Ivy and prospective bankers have feelings of superiority. However please at least have some respect for others. Just because you are on top of the world doesn't mean you should treat others as your serfs. go eat some fresh vegetables and cut back on testosterone.

i may up the test to 750mgs/week from 500. add some nandrolone phenylpropionate and im good.

careful, that would make your balls even smaller than they already are

um... i think ur wrong there buddy.