I go to University of Michigan engineering school. I was thinking about transfering to more of a target school.
So I went to the engineering career office today. I was just chatting with the career office advisor person and I was asking about how likely it is to get into BB ibanks or MBB consulting from the engineering school, and he said about the same chance as from Ross, and then proceed to say Michigan Engineering is highly regarded by the groups that prefer quantitative skills. Is that true?
He then explain that obviously the placement percentage are not comparable because 90% of the engineering students do not plan or do not want to work in finance anyway. but of the people who actually want to/apply BB ibank/MBB consulting (serious interest but not just a resume drop at career fair), the success percentage should be comparable.
He then explain this year might be a bit of an anomally that we see the percentage for engineering students lower because S&T and quant positions are down and they like engineers for those positions.
Does this sound likely? Or is he just trying to convince me not to transfer?
Those seem to be about my views. I know that at my bank at least, recruiting has shifted from almost exclusively Ross to half Ross, half LSA and engineering within the last couple years. It's a good school, and I wouldn't transfer, especially now when it's insanely hard to get a job no matter where you are. To me it's better to be top or close to top of class at Michigan than a little lower at like MIT or something. But that's just my opinion, I did however, contribute in resume close lists this year. Any more Q's, just PM me or someting. Later.
Yea man, one of my good buddies was in engineering at school (target/mid target) and he got an SA and FT offer for Deutsche Bank IBD
Depends since it is a shitty market but back in the day at UBS IBD I saw some MIT and CMU engineering/Comp sci kids in the bank.
I'm in somewhat of the same boat, but I've interned at PE funds (one kind of half PE half VC) and a couple of the GP's had their engineering degree's, I actually chose engineering over finance over that. It definitely seems tougher to get into IB from there, but your exit strategies are a lot more broad especially if you ever want to do VC, Michigan engineering with IB (particularly tech or m&a) is a SLAM DUNK with series A to seed funding type firms. I mean think about when you get a little more hands on with portfolio companies or hearing pitches: your going to be dealing with engineers most of the time anyway, and w/ a background in the discipline gives you twice the insight into more tech savy companies. If you just want to do finance specific careers than yeah i guess I would switch, but seriously the farther the move up the less you deal with spreads and pitch books and more interaction with clients in m&a, PE (depending), and hedge funds already like the analytical aspect of engineering so really the only problem I see is getting a spot. Just do some extra stuff to make yourself stand out: join the investment club at Michigan and run for an officer position, see if there's any boutiques you can hook up with for a summer internship, look for any type of competition thats finance related and put something together. If your engineering IB's know your smart enough, its simply showing them that your a finance guy who did engineering instead of the other way around. Plus you'll really set yourself apart if you ever apply to top MBA programs (Stanford, SLOAN, Chicago, Wharton, and Harvard admit just as many engineers as they do business, just look at the distribution on their admission sites). '
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