Seems like ibanking is near impossible coming a big state school not named UVA/MICH/Cali. Is there any job or way I can get a shot in 1-2 years? Im thinking about working 2 years in a 50k a year type job then just going to Duke/Georgetown/Cornell for law school then apply for an assoicate position in ibanking. Any other ways someone from a state school can get into a BB ibanking position?
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Search through the forums. There are plenty of examples of non-target people getting into banking. Your major and GPA are a good start.
I'm in your type of position, and I think the last thing you should do is waste money on law school to get into banking. Nothing is guaranteed after all that, either.
For non-target students, you are going to see a recurring trend in the advice given to these individuals. Namely.....network your ass off (alumni, anyone you can think of, cold-call if necessary), know your stuff inside and out so you can impress when/if you do get an interview, try talking to friends at target schools to get specific contact information for HR, the list goes on.
If you are only a sophomore, then you have plenty of time to build a network and 'model' yourself towards obtaining a position in IB. It won't be any easier than it sounds, but there are plenty of people on this forum to tell you that it can definetly be done.
Carry on..
If you really want to be in IB, you should get your MBA. If you can get into Duke/Georgetown/Cornell law schools, you'll have no trouble getting into a top-tier MBA program, and it's a lot easier to go to IB from there. Some people do get to IB from law school, but it's a lot more difficult because the banks tend to recruit at the business school, not the law school. Besides, law school is a lot harder than business school, so why go through the hassle?
This is terrible advice. OP you can definitely get in from a state school with those grades. Don't go do an MBA just to get into banking when you absolutely don't need it. Don't waste the lifeline.
Getting a JD probably isn't the best way to get into banking on the associate level esp. if your past exp. is non-banking. If you really want to do banking, probably would be better to get an MBA after your work experience.
And faced with that tradeoff, wouldn't you rather do corporate law than be an analyst? Almost the same lifestyle but at least you won't be starting at the bottom with people who recently got their bachelors...
If you're in a large state school named Indiana U, they send a good number of kids into investment banking. Or UNC.
I was gonna say if you're at UVa, Michigan, or Berkeley, then you'd be fine but oh well.
Ya. But I dont want to wait until I have 5 years of work experience to apply for B-schools. I'll apply for MBAs after two but I think my work experience wont be good enough to get in with only 2 years even with a great GPA/GMAT.
Anyone know how much harder it is to get into a top 10 b-school with 2 or 3 years WE vs 5 years, esp if the job is some typical 50k job and state school UG?
kimowitz Ya thats why I'm kinda leaning more toward JD than MBA, that way in case I dont't get banking I can just do a 175k starting corporate law gig working 60 hours a week.
I think I'd perfer the banking work than the legal work.
I went to PSU and got into banking. A great state school, but certainly not the best or a breeding ground for investment banking. But firms did lightly recruit there and you really had to seperate yourself from the pack to have a shot.
So keep that GPA up and form a solid resume. Do internships. and develop interview skills. this should get you the leg up you need.
Interviewers really respect students who are able to rise above the thousands of kids at state schools and it shows hard work and commitment. Kids from ivys obviously work very hard in stiff competition. But the opportunities are almost endless so being the best isn't a requirement. But at a state school, you really need to rise to the top.
but that's just how I interpreted my own situation......
This summer, get a banking internship at a small shop. It will probably be unpaid, but it will set you up nicely for BB internship recruiting.
Or work for a small PE, VC, etc shop, demonstrate that you're interested in finance. There are plenty of smaller outfits which would gladly take free help.....and sometimes, these guys are VERY well connected.
I'm thinking I might get a JD over an MBA, seems more prestigious and doesn't require any work experience (unless you want to go to NWesternm, but fuck that school anyway).
HBS and Stanford admit a handful of students right out of undergrad.
if you're going to law school for prestige, you're going for the wrong reasons. Law school is going to be 3 years of hell. its NOT easy.
PS- northwestern is #12.
"kimowitz Ya thats why I'm kinda leaning more toward JD than MBA, that way in case I dont't get banking I can just do a 175k starting corporate law gig working 60 hours a week."
The lawyers making 175k out of school work more than 60 hours per week, and it's just as difficult to get that job than IB Associate. Even going to a top B-school doesn't give you that great of a chance if you don't have prior IB experience,
get an internship. don't let people tell you that you need to go get an MBA. You are still in college! Try to get a job with the degree you will have soon and don't get a graduate degree unless it is the only way to further your career. Working really hard to land an internshp is way easier and less costly than getting an MBA..even studying for the GMAT.
yes you can
yea its an option dude, but dont expect to work 60 hr wks- it's essentially the same hours as banking and if you get into a top firm like wachtell or something i'd bet they probably work their jr lawyers more hours.
and i echo someone else's comments...
b-school is like a vacation esp for ex-analysts.
law school, at least in the beginning is pretty intense. much harder... although the last yr of law school i hear from my lawyer friends is pretty chill, almost like senior yr of undergrad after you land a job.
However, as a non-target I have to tell you it is not very easy. Nevertheless, you have a few things going for you.
First, U of Maryland is defenetly not that bad, thrust me on this one it is about a top 50. Second, location, location, location, it helps if you are close to a large city. However, your best chance is networking. What I mean is go right now before internship applications start to your career center and find all the alumni in I-Banking, Buy-side shops, HF, VC anything good, and just send them e-mails. Internship season has not started yet, except for Accounting (but if you can get a finance internship don't even consider accounting) you might end up pigeon-holed.
Good luck.
he doesn't need to, but if hes going to be doing any kind of post-graduate "school" strictly to get into banking, his best bet would be a 1 year masters program at a target school. Anything will do. Law school sucks.
^^This.
My advice would be to network your ass off. If you can get an internship while in school, do it and then build on that.
I have a friend who just graduated law school after going to a well respected undergrad b-school. He passed on a decent corp finance gig coming out of undergrad because he thought he could do better, so he went to law school instead. Three years has passed and the guys he graduated with have all been pretty successful in finance and he feels left out because he is now looking for a job, still, and he isn't all that stoked about doing law.
So I would point out a few things, law school will not guarantee you a job, so keep that in mind. Also, as others have mentioned, law school sucks...it's not fun at all. The only fun you may have is your last year and that's assuming you've managed to find a job in this shitty market. Granted things may be different by the time you get there and are getting ready to graduate, but why risk it.
Now, with all that said, I would seriously consider just a one year masters program at a good school. Duke has a good program and would give you access to decent job opportunities. Obviously you won't have time to do an internship, but the name carries a lot of weight and if you perform like you've done thus far in undergrad, you will get interviews and you will just have to close the deal. Doing the one year program would make you only a year older than the other 1st year analysts and far less in debt than you would be attending law school.
If for some reason you decided you still wanted to go to law school, you could leave your analyst gig after two years, probably have no debt, and do that...and you wouldn't be any older than you would be with the path you have sketched out now but you would have more options, to possibly stay a third year and get a direct to associate promote or jump to the buyside or go get your MBA, etc.
For me, it would be cheaper, faster, and much more effective to do a one year program if you are looking to get into banking. Just some things to think about. Also, there are a number of one year programs that others would recommend here, I just don't recall what they are offhand.
Regards
I would vote for the MBA. It'll open more doors and is more versatile than a JD.
Of course.
went to a top 5 engineering school and got into I-banking.
As KG would say "anything's possible!"
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