"Non-finance" business schools for finance
Are top "non-finance" schools good for placement into finance?
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B schools post employment reports; you can just Google them.
All of those give you a good shot.
Yeah you could get in from one of those- however, keep in mind it will likely be much harder to transition to IB without an IB background from one of these schools, as compared to a "finance" b-school.
Maybe, but only because the "finance" schools (Wharton, Columbia, Chicago, NYU) are higher ranked in general (except Stern, I guess). Going to a place like Tuck will most certainly allow you to work in sell-side banking, even if you're a career changer without any experience whatsoever (hell, how many people with pre-MBA banking experience ever go on to be associates post-MBA?).
This is just wrong.
@RustyR , don't read too much into the employment reports; more students going to banking at school A than at school B doesn't mean that school A is a better school for banking. It just means more students that year chose to go to banking. There is a lot of self-selection in these numbers, so don't read too much into it. Also, be wary about looking at absolute numbers - sending 50 kids out of 900 to banking isn't as good as sending 30 out of 300.
Bottom line, if your desired bank recruits at the school your at (the schools you listed get pretty much every bb (if not all) to do serious recruiting) then you stand a more-than-decent chance at breaking in.
Never said he couldn't get a job from those schools- just potentially easier from a more "financey" school. At one of these schools, he may be competing for fewer spots (even if all BB's recruit there) against people with more relevant backgrounds. A degree from a more financey school could help balance that inequality.
from this list, I can say Tuck and Ross are more "finance" than others. but honestly I think choosing school based on your preference in non-urban location is not wise for someone who wants to switch career, unlike someone who are sponsored or wanna stay in same industry,
This is good advice, but either way these are all strong schools that will give you a shot.
Just do a quick Linkedin search and you'll have your answer. People tend to say Tuck alumni go to the bat for fellow alumni's.
The employment reports aren't always crystal clear. For instance, some employment reports even lump "Finance" together under job function. Furthermore, I don't know how accurate or reliable they are.
Now why is that? Is it due to the superior reputation of the finance schools? Or is it that banks do not wish to go to many small to mid-size schools to recruit? Or is it that finance schools better prepare students for IB?
Take for instance UVa Darden. 12% of class of 2012 went to IB (if the employment reports are to be believed). This isn't much lower than 16% at Stern given that far fewer Darden students would want to pursue IB in the first place. Even at Booth, placement into IB in 2012 was only slightly higher at 17.6%.
Going by the employment reports, even the LEAST "finance" oriented top 15 schools place ~6% of class (2012) into IB. On the surface it seems that any top 15 school opens doors to BB and boutique IB and there isn't a significant disadvantage in going to a "non-finance" school. Is this an accurate assesment? Am I missing something?
RustyR -
While I agree that school employment reports don't always have the detail that you might be wanting to see, I wouldn't feel a need to be overly skeptical about their reliability/accuracy. Essentially all top schools adhere to the reporting standards defined by the MBA Career Services Council, and there's an auditing process to validate data, too. Here's a good article if you're interested in learning more about CSC, and more importantly, how to take a critical eye at employment reports.
http://management.fortune.cnn.com/2011/09/13/mba-career-promises-behind…
Regards, Jon
Thanks for the response Jon.
What I meant to say is that the breakdown in the employment reports isn't always clear cut and there is great variation in classifications from school to school. For instance, some schools only list Investment Banking under "Industry". Now many of these grads may work in investment banks but not necessarily in investment banking. These could include sales, research, middle office functions etc.
What are your views on my original question? All of these schools are good for career switchers into IB?
Thanks.
I think it's due to the superior reputations. Be wary of the reports as some have said here- they might group all jobs in an investment bank into one category etc.
If you play your cards right I'm sure you can get into IB from one of the schools you seem to be leaning to- I was just stating that given your background (and any background) it'd probably be easier at one of the more finance related schools.
For someone who is in one of the school above and career changed to IB (did consulting before), you are actually better served at these schools for multiple reasons: - Lower competition (We just have less people wanting to do banking, everyone is busy doing consulting) - Alumni network is smaller, but stronger - You don't have to network everyday like Columbia/NYU - You are in one of the friendlier schools. People at banks actually like you - Many kids at places like Wharton are doing banking recruiting as a backup to their PE goal, which banks know and trust you less
Most of these schools get all the bulge bracket banks. You do see less boutiques, but people from my school got there thru off campus recruiting. And whether you are at Wharton/Booth/Columbia or some non-finance school, banking recruiting happens in Fall of first year. Everyone's finance knowledge is limited to core accounting/finance courses and there is not really any finance acumen advantage.
EOD, whichever Top 15 school you go to, you'll most likely make it to IB if you are not awkward, go thru the motions and not dumb. Go where you feel most comfortable so you don't hate the two years. Might vary at other banks, but my bank had a larger number from Tuck and Fuqua from your list above. You should also consider Kellogg.
What you think doesn't matter since: 1. You don't work in a US bank 2. You are/were not a MBA student
True, but my info comes from people who I've talked to about a similar topic (breaking into US IB, albeit from IB overseas) who are in the industry and are/have been at the schools mentioned above and others.
OK
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