A school is considered a target when a large number of Wall Street firms conduct on campus recruiting (“OCR”) for "front office" positions. A school’s status as a target may vary slightly from industry to industry, firm to firm, and region to region. Ultimately, however, a school’s status as a target depends on its relationships with employers and the number of students that get hired each year. Learn More
Frequently Asked Questions
Institutions
In short, no. There are many non-target success stories that we hear about on WSO on a regular basis. To read some of these, go to our WSO Success Stories forum to get inspired! Although the probability of your success is largely determined by the school you attend, there are non-targets that break into very reputable positions each and every year. Learn More
This is a very personal decision that only you can answer. There are a wide range of factors that determine whether a school is right for you. If you are truly focused on getting a front office position on Wall Street and you think you have a good shot at transferring to a target and maintaining a high GPA, then go for it. If you like the school, the atmosphere and think you can excel there, then it could definitely be a good move for you. Learn More
Grades
Your GPA is an important screening mechanism used by many firms on Wall Street to filter the thousands of resumes that have to be processed each year. If you have a poor GPA, it won't keep you from getting a job on Wall Street, but certain positions and certain firms will be harder to break into. How much GPA matters not only varies by firm and group, but also by industry, too. Learn More
If you have a low GPA (under a 3.3), it will be an uphill battle getting into a front office Wall Street position. There are always exceptions, however. Don't let anyone tell you it is impossible. The primary way to overcome a low GPA is to start building your network with alumni, friends, family and anyone else that may know someone in the industry or firm you are targeting. Remember, most of the career success in this world is determined by WHO you know. Learn More
Majors & Minors
When choosing a major (and a career) you should always choose something that interests and excites you. However, if your ultimate goal is obtaining a job on Wall Street, majoring in something other than business, finance, economics, or mathematics may make things more difficult come recruiting season. Learn More
A minor alone will not help you land an offer, however, it can help pull your story together. If you decide to major in chemistry, picking up a minor in business can help highlight your relevant background to finance recruiters. Similarly, if you are a business major who wants to work for a boutique IB focused on medicine, having a minor in chemistry could also help your case. Minors can also work in your favor by allowing you to connect with a larger group of people. Learn More
Whether or not a specific certificate will help you as a candidate for finance careers obviously depends on the specific certificate in question. A certificate will be looked at much the same way as minor would. It won't necessarily help you, but it can help demonstrate an interest in and round out your candidacy. Learn More
Whatever classes you take, in order to be competitive for top Wall Street jobs you should aim to keep your GPA over 3.5. After that consideration, you should try to take a mix of business, economics, accounting and finance courses to show a strong interest in relevant concepts to Wall Street careers. Once you have a nice base of those relevant classes, you should take whatever interests you most in order to highlight that you are a well rounded candidate.
Organizations & Activities
Graduate Degrees
For those pursuing a career in finance, there is some controversy as to whether one should take the Chartered Financial Analyst (CFA) program or go through a Master of Business Administration (MBA) program. Both have their advantages, so if you’re deciding on which one to choose, you need to determine whether the CFA or MBA will best meet your goals. Learn More
This question is very vague. It is almost impossible to predict your chances without looking at your essays and knowing what you have done. It also depends largely on the applicant pool and what schools you apply to. The best way to find out how you stack up against the competition is by posting in the Business School Barrage forum. Learn More
An MBA is still one of the most respected and the most traditional degree to help you get promoted in the world of finance (and/or switch careers within or into finance). How important the MBA truly is, however, depends largely on what type of career you are looking for on the Street. Learn More
Despite being somewhat new in terms of degrees, a Master of Science in Finance (MSF or M.Fin for Master in Finance) are generally well-accepted in the finance world. Whereas an MBA gives a general business education, an MSF [or M.Fin] is focused solely on finance. Learn More
This is highly dependant on the firm and industry. To be straightforward a JD will usually not set you up nearly as well as an MBA. If you’re applying for a position with an investment bank or private equity firm, they may see you as overqualified and/or think that the work they have for you won’t fulfill your intellectual interests. There are of course, some exceptions. Learn More
This is highly dependent on the firm and industry. To be straightforward, a PhD or MD (Doctor of Medicine, not Managing Director) will usually not set you up nearly as well as an MBA for a position in finance. If you’re applying for a job at a financial services firm, they may see you as overqualified. They may also think that the work they have for you won’t fulfill your intellectual interests. There are of course, some exceptions. Learn More
