What college to attend for an aspiring CFA or Ibanker

E.Robs's picture
Rank: Chimp | 5

I'm a senior who lives on Long Island who wants to double major in finance and accounting. The schools I've gotten into are Fordham, Indiana University, Baruch, and Penn state. Indiana is the most highly ranked for undergrad business but i want a job in NYC when i graduate do you think that this would be likely if I went to Indiana? I also know that everyone wants to break into the world of Ibanking but I'm willing to give up everything to achieve this goal which school would be my best option to become a CFA or Ibanker in NYC?

Comments (14)

Mar 1, 2011

if you want to get into ibanking so badly then why didn't you try harder in HS and get into a good school

Mar 1, 2011

I know IU has the investment banking workshop for its undergrad business students, which has had seemingly good placement for its students in IB.

http://kelley.iu.edu/ibn/IBW/workshop.cfm

Mar 1, 2011

With IU, you can get placement in Chicago and then transfer to NY if you work hard enough and are a top performer. I would go with IU and go for their business program.

Mar 1, 2011

Taking out loans to finance my college education received ample scholarships to these schools. They're no ivys but they are still good schools anyone with some knowledge would know that. I didn't ask this question for you to question how i did in high school. Can't expect a real answer from you I can already tell you have no knowledge of working on wall street at all so thanks for your time.

Mar 1, 2011

E.Robs, I wouldn't worry about him. From going through recruitment for Chicago banks, I can tell you that Indiana plays heavily into the process in a way that it probably wouldn't for NY. You're in a good position knowing that you want to do Ibanking before college. If you work hard, acquire some good internships and attain some leadership positions, you will be in as good a position as anyone to get into a BB, strong mm, or boutique in Chicago come Junior year. Keep plugging.

Mar 1, 2011

thanks man appreciate the help

Mar 1, 2011

indiana 100%. i work at a bank in nyc with a number of indiana grads, but very few from the other schools you listed. better get into that workshop, though. but definitely indiana

Mar 1, 2011
E.Robs:

I'm willing to give up everything to achieve this goal which school would be my best option to become a CFA or Ibanker in NYC?

Absolutely no reason to "give up everything" to get into banking. Just get solid grades and try to get some internships before Junior year recruiting. You're at least 3 years away from banking at this point, just enjoy college. All the schools you listed are good enough to get you into the industry.

Mar 1, 2011

I am a senior at Indiana University and am from the east coast so I was in your shoes before. Ton of people from Long Island come out here, FWIW.

As winning8159 mentioned, we have an exceptionally strong banking program here. The Investment Banking Workshop has essentially 100% placement for internships and full-time jobs at all major bulge bracket banks in all major cities. Many bankers from IU are at NY offices of GS, BAML, CS, DB, and so on.

That being said, you have to be very good to get into the workshop and in general IU is at a huge geographical disadvantage to make it back to NYC. Fordham and Baruch make networking much easier due to their location - very easy to meet with people in the city or visit firms. I do not know the strength of their programs though.

Not sure I get your CFA comment though. Unless I'm mistaken, passing the CFA should be pretty school independent. I would think most business programs teach similar classes to prepare you for the exam and you will have to put many hours in studying anyways. I've seen many smart people study hard and not pass the CFA.

You sure you want to do banking though? You sure that your job is all that matters in choosing a school?

Mar 1, 2011

I've met bankers from Penn State. You'll be plenty fine.

Mar 2, 2011

IU -> Chicago is probably your best route. I don't know how much recruiting happens at Fordham...

since you already know that you want to do IBD you're likely in an okay spot even going to only a semi-target because you know that you need to be in clubs, get internships, and (most importantly) get very high grades. IU should be kind of fun anyways as you'll have cool basketball games to attend and tons of young, blonde farm girls.

Mar 2, 2011

Thanks for the help I'm leaning towards Indiana now.. Only thing is gotta get into that program they only take 32 people out of all the numbers at IU that's insane

Mar 2, 2011

First off, you should figure out what you want as CFA and Ibanking are completely unrelated. Also, CFA for the most part is independent of your school and you cannot register until you're a senior in college.

I think Indiana or Penn St are both your best bet for all around, as you will get a great college experience and they both are reputable state schools. I know Goldman recruits both IBD and S&T from Penn State, beyond that there seems to be quite a bit of PStat alumni on the street. Indiana places well in Chicago but don't know too many from IU who work in industry in NYC...

That being said, if you really want to break in the business go to Fordham. You will have greater networking opportunities and with diligence will be able to swing internships or IB related jobs every semester you're there, albeit for very little $ or free at first but still good experience.

Mar 2, 2011
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