How to become an investment banker

Hey, I currently would like to become an investment banker, but I'm not quite sure how to get there. Some info about me:

-18 years old, 19 soon
-living in Canada
-applied to engineering and computer science (and I may apply to math as well) undergraduate programs, and hopefully I'll be attending the University of Toronto this coming fall

And that's about it. I'm really just using engineering as a stepping stone to get into a good MBA program.

I also have a few questions:

-does going to a prestigious school for undergrad, such as the University of Toronto, matter when applying to MBA programs in the States, and would the program difficulty be considered as well?
-is engineering, computer science, or math a good path to take if I want to be an investment banker?
-is the Rotman School of Management in Toronto well-known internationally?

I'm really just looking for advice on how to become an investment banker and if someone could answer my questions, that'd be great as well. And sorry if this is in the wrong section, it's my first post.

 
Best Response
83828180:
Hey, I currently would like to become an investment banker, but I'm not quite sure how to get there. Some info about me:

-18 years old, 19 soon -living in Canada -applied to engineering and computer science (and I may apply to math as well) undergraduate programs, and hopefully I'll be attending the University of Toronto this coming fall

And that's about it. I'm really just using engineering as a stepping stone to get into a good MBA program.

I also have a few questions:

-does going to a prestigious school for undergrad, such as the University of Toronto, matter when applying to MBA programs in the States, and would the program difficulty be considered as well? -is engineering, computer science, or math a good path to take if I want to be an investment banker? -is the Rotman School of Management in Toronto well-known internationally?

I'm really just looking for advice on how to become an investment banker and if someone could answer my questions, that'd be great as well. And sorry if this is in the wrong section, it's my first post.

FYI U of T is NOT a prestigious school for undergrad. The best undergraduate students in Canada end up at Queens or Mcgill.

Engineering --> MBA --> I-banking makes zero sense in Canada. Just go to Queens/Ivey/Mcgill like all of the other wannabe investment bankers, as that's where the banks recruit from. You won't even need an MBA if you excel.

If you want to go to a top American MBA program, Queens or Mcgill engineering is your best bet.

 
evilbyaccident:
83828180:
Hey, I currently would like to become an investment banker, but I'm not quite sure how to get there. Some info about me:

-18 years old, 19 soon -living in Canada -applied to engineering and computer science (and I may apply to math as well) undergraduate programs, and hopefully I'll be attending the University of Toronto this coming fall

And that's about it. I'm really just using engineering as a stepping stone to get into a good MBA program.

I also have a few questions:

-does going to a prestigious school for undergrad, such as the University of Toronto, matter when applying to MBA programs in the States, and would the program difficulty be considered as well? -is engineering, computer science, or math a good path to take if I want to be an investment banker? -is the Rotman School of Management in Toronto well-known internationally?

I'm really just looking for advice on how to become an investment banker and if someone could answer my questions, that'd be great as well. And sorry if this is in the wrong section, it's my first post.

FYI U of T is NOT a prestigious school for undergrad. The best undergraduate students in Canada end up at Queens or Mcgill.

Engineering --> MBA --> I-banking makes zero sense in Canada. Just go to Queens/Ivey/Mcgill like all of the other wannabe investment bankers, as that's where the banks recruit from. You won't even need an MBA if you excel.

If you want to go to a top American MBA program, Queens or Mcgill engineering is your best bet.

From what I know, U of T engineering is by far better and more prestigious than McGill and Queens, which is why I want to go there, and then get an MBA. I considered applying to Queens for commerce, but I wasn't sure if I should, but I still have time to change my application.

Do you know how well business undergrads from Queens do? I have always assumed that an engineering degree is worth more than a business degree at face value.

 
83828180:
evilbyaccident:
83828180:
Hey, I currently would like to become an investment banker, but I'm not quite sure how to get there. Some info about me:

-18 years old, 19 soon -living in Canada -applied to engineering and computer science (and I may apply to math as well) undergraduate programs, and hopefully I'll be attending the University of Toronto this coming fall

And that's about it. I'm really just using engineering as a stepping stone to get into a good MBA program.

I also have a few questions:

-does going to a prestigious school for undergrad, such as the University of Toronto, matter when applying to MBA programs in the States, and would the program difficulty be considered as well? -is engineering, computer science, or math a good path to take if I want to be an investment banker? -is the Rotman School of Management in Toronto well-known internationally?

I'm really just looking for advice on how to become an investment banker and if someone could answer my questions, that'd be great as well. And sorry if this is in the wrong section, it's my first post.

FYI U of T is NOT a prestigious school for undergrad. The best undergraduate students in Canada end up at Queens or Mcgill.

Engineering --> MBA --> I-banking makes zero sense in Canada. Just go to Queens/Ivey/Mcgill like all of the other wannabe investment bankers, as that's where the banks recruit from. You won't even need an MBA if you excel.

If you want to go to a top American MBA program, Queens or Mcgill engineering is your best bet.

From what I know, U of T engineering is by far better and more prestigious than McGill and Queens, which is why I want to go there, and then get an MBA. I considered applying to Queens for commerce, but I wasn't sure if I should, but I still have time to change my application.

Do you know how well business undergrads from Queens do? I have always assumed that an engineering degree is worth more than a business degree at face value.

As far as finance careers are concerned from a Canadian engineering undergrad standpoint, UofT and Waterloo engineering are just awesome for trading while McGill and Queen's engineering have better placements in banking and consulting. Your presumptions won't change anything.

Ideally, head over to Ivey or Queen's Commerce if you're dead-set on banking, however if you're far more interested in engineering but still wish to work in IB then McGill or Queen's Engineering would be optimal.

 

McGill is not a good school for IBD by Canadian standards. Simple reason for that is that there are very few IBD spots available in Montreal and Desautelles is not in the same category as Rotman or Ivey. McGill is known in the US - but only because it's popular (for whatever reason) with US students. For Canadian IBD, your top bet is Ivey HBA (Western) or Rotman Commerce B.Comm (UofT St. George). Queen's is competitive for IBD, but excels for consulting.

 
Sovjet:
McGill is not a good school for IBD by Canadian standards. Simple reason for that is that there are very few IBD spots available in Montreal and Desautelles is not in the same category as Rotman or Ivey. McGill is known in the US - but only because it's popular (for whatever reason) with US students. For Canadian IBD, your top bet is Ivey HBA (Western) or Rotman Commerce B.Comm (UofT St. George). Queen's is competitive for IBD, but excels for consulting.

Does Rotman have a good MBA program for IBD?

 
83828180:
Sovjet:
McGill is not a good school for IBD by Canadian standards. Simple reason for that is that there are very few IBD spots available in Montreal and Desautelles is not in the same category as Rotman or Ivey. McGill is known in the US - but only because it's popular (for whatever reason) with US students. For Canadian IBD, your top bet is Ivey HBA (Western) or Rotman Commerce B.Comm (UofT St. George). Queen's is competitive for IBD, but excels for consulting.

Does Rotman have a good MBA program for IBD?

For IBD - Ivey and Rotman are the only two MBA programs in the running. Queen's MBA and Schulich MBA are much weaker (though Queen's undergrad is quite strong).

 

well its a good thing that I applied to Queens engineering as well, I just have to pick a university later on.

@a27wang: I considered applying to that program, but i just didnt, not quite sure why. my applications so far have cost just less than $300. i wouldnt say I want to do engineering just for MBA, but an MBA is the goal. and part of the reason why I want to go to Toronto is because they have a joint engineering and MBA program. i think its 7 years, and you graduate with a BASc in engineeing, and an MBA from Rotman, along with about 3 years work experience (2 years in engineering, and 1 year in business). http://www.rotman.utoronto.ca/skoll/

 

Undergrad in Canada = total unknown in the USA. So who cares how prestigious your program is once you graduate? Would help if you want to get an MBA from a Canadian school.

Going for an MBA in Canada will land you working for your classmates who went right into IB since direct promotion to associate is common. You still have to note that the VAST majority of students in those programs don't get into IB. The industry is small in Canada so if your not a good "fit" you get chopped (everyone in the final rounds of interviews can do the job).

 

If you want to go into investment banker go to Ivey and do the HBA program. I know quite a few Ivey kids who work on bay and wall street.

Also disagree with the statement above. Ivey is well known in the U.S., nowhere nears the levels of HYP, Stanford but there is a fair number of Ivey grads who work at the BB's in NYC

 

There is no exact formula, sure going to an Ivy will help but it would help if you:

  • major in something business/finance related (finance/accounting or economics)
  • go to a school that is at least a semi-target (where banks recruit)
  • get internships in finance during the summers (the more relevant the better)
  • try to get a SA position the summer before your senior year

but really...when it comes down to it, the best way is in addition to learning on your own, working hard, and getting relevant experience is to network, network, network

XX
 
Pike:
There is no exact formula, sure going to an Ivy will help but it would help if you:
  • major in something business/finance related (finance/accounting or economics)
  • go to a school that is at least a semi-target (where banks recruit)
  • get internships in finance during the summers (the more relevant the better)
  • try to get a SA position the summer before your senior year

but really...when it comes down to it, the best way is in addition to learning on your own, working hard, and getting relevant experience is to network, network, network

Did you just read the title and nothing else? This really is absolutely irrelevant to what the op asked and the discussion going on...

 
lovattoeng:
What Eng. major ? I do and suggest Industrial Engineering. We have many business courses.

yea im looking to get into industrial engineering. that or mechanical since they share the a lot of the same courses. right now though i applied to general engineering, and i'll declare a major at the end of 1st year.

 

Earum velit quibusdam illo et laboriosam consequuntur veniam. Quia ut sapiente qui ut non rem.

Deleniti itaque placeat accusantium omnis nihil vero veniam. Sint modi aut voluptatem. Omnis id consectetur reiciendis omnis non repellendus. Eligendi eum reiciendis sed deleniti. Amet quisquam eum maxime quos rerum maiores.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (85) $262
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (65) $168
  • 1st Year Analyst (198) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
dosk17's picture
dosk17
98.9
5
GameTheory's picture
GameTheory
98.9
6
Secyh62's picture
Secyh62
98.9
7
CompBanker's picture
CompBanker
98.9
8
kanon's picture
kanon
98.9
9
pudding's picture
pudding
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”