Question for those working on Bay or Wall Street
Hello everyone, I am currently a Canadian high school student and my end goal is to work in asset management or a related field. I need to decide on which university offer to select. Those who are working in relevant fields on Bay or Wall Street, please let me know in the comments which of the following programs are best for these careers:
- University of Waterloo Mathematics/Financial Analysis and Risk Management (CFA Curriculum)
- University of Waterloo Mathematics/Business Administration (single degree)
- University of Waterloo Accounting and Financial Management (CFA Curriculum)
- Wilfred Laurier University BBA
- Wilfred Laurier University BBA + BA in Financial Mathematics and Analytics (single degree)
- York University Schulich BBA ( CFA Curriculum)
- Western University BMOS (no Ivey)
Thank you so much in advance for the advice, I really appreciate it!!!
Based on the most helpful WSO content, here’s what you need to know:
For a career in asset management or related fields, the strength of your program in finance, quantitative skills, and networking opportunities is critical. Here's a breakdown of your options:
University of Waterloo Mathematics/Financial Analysis and Risk Management (CFA Curriculum)
University of Waterloo Mathematics/Business Administration (single degree)
University of Waterloo Accounting and Financial Management (CFA Curriculum)
Wilfrid Laurier University BBA
Wilfrid Laurier University BBA + BA in Financial Mathematics and Analytics (single degree)
York University Schulich BBA (CFA Curriculum)
Western University BMOS (no Ivey)
Recommendation:
Networking and internships will be key regardless of your choice, so leverage co-op programs and alumni networks to maximize your chances of breaking into Bay or Wall Street.
Sources: Why Work in Asset Management?, Asset Management vs Investment Banking 101, Asset Management vs Investment Banking for exit opps into value-based hedge funds, Asset Management background: Chances into HBS or Wharton MBAs, How competitive is it to get asset management out of undergrad?
First, I'll address your question from my knowledge of the programs and universities:
In order of tiering in relation to finance oriented career paths, I would argue that:
Tier 1: Schulich BBA (arguably others include Rotman Commerce, Queen's BCom, and Western + Ivey)
Tier 2: UWaterloo, Laurier
UWaterloo BAFM, FARM (BAFM is traditional finance/CFA curriculum whereas FARM is more acturial science/quantitative specific; it may open doors for quantitative finance teams)
WLU BBA / BBA + BA (more general in early years without Accounting/Fin specialization, very solid programs with BA in Math leaning more difficult compared to other BAs such as Economics, Data Analytics, or other business specialties).
Tier 3: Western BMOS (non Ivey) - I have limited visibility on the non-Ivey pathway, but I would argue that it's slightly below WLU/UWaterloo (closer to Tier 2.5).
Others that people have considered that I have limited visiblity into: McGill, UBC Sauder.
Second, my commentary on the matter. When selecting a university, there are three equal considerations (1) The field of study, (2) The resources/opportunities at the University, and (3) The campus culture/who you'll meet there.
For (1) The Field of Study, it comes down to which discipline you align to more and what you're willing to put up with ( cough BA in Math cough). Regarding UWaterloo's BAFM program compaed against WLU's BBA program, BAFM is VERY specific giving accounting curriculum day 1 across second year (historic and emprical, the program may have changed since then). Whereas the BBA program offers a wider variety of electives and non-Accounting/Finance disciplines to study further (marketing, law, HR, really any other non-accounting/finance topic) and allows for specialization in years 3 and 4. Both offer co-op placements with UWaterloo's being built in and WLU's being application-based. I'd say this is a HUGE advantage. Having multiple co-ops prior to graduation will inform your career so much faster than anything else in university. So when comparing options, make sure to consider the interest in field of study and whether co-op placement exists and is competitive.
(2) For resources/opportunities, this really boils down to stalking existing students who've gotten into AM co-ops/internships and seeing what clubs they've joined, case competitions they've won, and other resources that were made available for them to build out their university experience. Most University pages have too much propaganda to objectively compare one to the other, but existing studetns' bios into places you'd like to go to will pretty much tell you what you need to know. If a certain firm's cohort comes from Queens (spoiler: it does), then it means there's a pipeline for on-campus recruitment there. If a certain firm is promoting a University event, it means they target a specific program or year of students for their internship seats. I'd essentially look at these students' resumes and then research the clubs/competitions to see what opportunities exist.
(3) For the Campus Culture, this cannot be ignored. Certain campuses are known to attract certain people. For instance, the average University of Waterloo student is more introverted than the average WLU student. Some campuses are very big on their culture, shown through hosting events, or indulging in things like frat houses, and stuff. If that's significant to you for your University experience, then make sure to consider this fact. There's some universities known to be cut-throat or competitive that boarder on toxic. Rotman Commerce (historical) had this culture where an acquaintance of mine had been informed at the entrance ceremony that only 40% of students make it to the end of the program. Go through campus walks, speak to existing students, see what they enjoy outside of the academia of it all.
On a final note after writing what felt like a manifesto, regardless of what university someone attends, being open-minded and intellectually curious will always open doors. I had an acquaintance many years ago who did not do all that well in highschool, went to a Tier 3 University within Ontario and ended up with a 4.0 GPA (and a few case competition wins). He then managed to transfer into a Tier 2 University and place exceedingly well within his third and fourth year.
Pretty sure this is AI slop,
You can ask anybody who actually works in IB and they'll tell you that in no way Schulich or Rotman is in the same tier as Queen's or Ivey, or even Waterloo
First of all, it's not. It'd be FAR more concise and sound less like the ramblings of a lunatic if it was. But I don't fk with AI when I choose to voluntarily write on a forum like this.
Second, feel free to disagree; this is aged advice from my own experience at these schools. If the reputations have changed since then, by all means, correct me.
Edit: I literally went to Uwaterloo and I disagree with your view of Schulich. I've met some incredibly smart folks from that program and I would argue that it's as competitive or more so than Uwaterloo.
Congrats on Schulich
Waterloo Math/Finance. No brainer.
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