I'm at a BB ( 3.0 from a target school) and I know lots of people at various banks for GPA's around a 3.0... hell, I even know one who had a 2.5... Its about what you did with your time in school and not just grades...
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ok so I made a typo (I guess that explains my gpa)... point still stands
obviously you don't need a 3.8 to get in, but anything higher than a 3.5 is a huge advantage. yeah, I know some people at Goldman with less, but it's gonna be a harder to stand out
Trust me, I guarantee the ratio is not favorable for people with marginal grade performance. Either way, it is always evaluated on a case by case basis.
Yeah, this is like saying, "Hey, all you girls who are 5'3", you can be supermodels! Go shell out for some head shots; you'll be on the runway in weeks. Don't listen to anyone who tells you otherwise; just look at Kate Moss for proof. She's short too!" This is illustration through exaggeration, of course, but for some reason the absurdity of this type of logic is escaping some people here.
If you folks want to be analysts, you'll need to learn how to model real-life events. The fact that an unlikely event has happened doesn't mean that it's something you can plan for. If you're modeling your likelihood of ending up in IB, you'll need to understand the effect that one's GPA has on one's expected acceptance rate.
i agree that it is not just the grades but rather the total package. maybe one can get in with a 2.5, however there seems to be a high correlation between IB entrance and good grades. i have a 3.2 and was able to get BB SA.
From the ghetto...
Just for some contrast, here's the direct cut-and-pasted text of a letter I recieved from a mentee of mine that I've been helping through my school's alumnus mentoring program:
~~~~~~~ Mis Ind, I am so dissapointed that I have no clue on what more should I do in order to earn myself alteast an interview. Yesterday, we had recruiters from Merrill and again my resume was declined because they only looked at students whose GPA was over 3.8. It looks like my past internship, my extra-crurriculars and my other credentials are of no use.
Mis Ind, is there any other route I should pursue in order to get my resume alteast on the interview table???? because if it continues like this then there is no way I am gonna find an internship this summer :( ~~~~~~~~~
The kid has a 3.71.
its just easier with a higher gpa, thats all. people say you need above a 3.5 b/c it gives you an advantage, but there are those out there who had lower gpas working at BB's. also a higher gpa helps later on with bschool apps as well. also gpa is relative to the school/major. someone from a lower tier school should have a higher gpa whereas someone from a target can afford to have a lower gpa. i remember talking to recruiters/analysts who sort resumes when i was a senior and they said for certain schools, they have higher gpa cutoffs b/c of the quality of the school.
Of course you dont need the best grades - but if you need something else ot make you stand out.
It's how you compare to other candidates , not how you look compared thin air.
If you are up against someone with a good score and good achievments you will need to at least come within ear shot of their abilities otherwise you area wasteing the banks money and effort during the recruitment process.
If you're not from a target school, you pretty much need a 3.5. Even with a 3.7 or so, you're application will still be thrown away or put at the bottom of the pile and never seen. For non-targets, the rule is 3.5 gives you a fighting chance at an interview, 3.7 pretty much gives you an interview, a 3.8+ damn near garuntees you an interview. So, my fellow non-targetschoolers, get a 3.5 or find another profession.
Wells Fargo isn't considered BB, man.
In my limited experience, you definitely need a high GPA.
Especially coming from a non-target, the recruiters I've spoken to at BBs are sometimes "relieved" to hear that I have a 3.8+ GPA. Part of what you did "in your time at school" is definitely what you actually did academically, and GPA is a good reflection of that.
While I can't disagree that is beneficial to have a high GPA, all of you who are saying 3.5+ or else hav no clue what you are talking about. I came from a non-target (top 25 school) with a 3.0 (might have been a bit lower when I was interviewing), and through networking as well as just submitting my application to HR I managed to get interviews, However I did have a number of finance related internships as well as a "wow factor" (not going to get into it) and I was very persistant. Once I got the interviews nobody ever asked me about my GPA again (although I did put my major GPA which was a 3.4 and not my cumm GPA)but regardless nobody ever asked me what my cumm GPA was, since I knew I interviewed well, I ended up at a very strong MM bank and transferred to a top 2 BB after my first year.
No one is saying you should give up if you have a low GPA, but the truth of the matter is, you have a MUCH better chance with a high GPA than a low one. For every person that gets into IB with a 3.5 or less, there are probably 20 more that got screened out because their GPA wasn't high enough.
I agree with you streeluck, I am just saying the people here who post 3.5+ or get another job, might discourage people. Strong networking skills, can make up for a lower GPA that's all, someone with pull, can get you that interview despite what HR might think is an appropriate GPA.
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