Do I still have a shot at IB based on Undergrad?

I am planning on attending Hampden-Sydney College next fall and am trying to break into high finance. I chose the school over a couple of more "elite" LAC schools (Bates, Bowdoin, and Colorado College) and service academies as I enjoyed the culture more and it was a better fit for my sport (basketball). I understand HSC could be considered a much weaker degree but I'm just curious if I completely killed my goal of breaking in. I've been told by several alumns that if I maintain a high GPA and network like crazy, its possible. I'm also not opposed to getting an MBA. Just wondering if its even worth the effort lol.

 

I personally find that this comment from Mr. C answers your questions better than I can. I would say that if you enjoy the culture at your school, not to transfer (this is coming from someone who went to an extremely (basically unknown) non-target LAC)) but just realize that you are missing out on the big banks coming to your campus to recruit. 

 Mr. C

First of all, for breaking into IB, you are in great shape, so don't overstress yourself. Been in your position, so here are a few suggestions:

  1. Undergraduate Research. It may be a bit difficult to pull this one off, but definitely worth it. Research Assistant or Research Associate is a strong thing to mention on the resume. Based on my experience, I highly recommend to shoot for a research in Econ/Finance department.
  2. CFA (Chartered Financial Analyst). Though a very big and respectable certification in the world of Finance, don't expect it to flip the tables over. It's a very good way to crystalize your resume, like a cherry on top of the pie. The best thing about CFA, I would say, is that you'll consistently spend a lot of time working on the concepts of finance, econ, accounting, etc. (CFA Curriculum Attached)
  3. Try to get work experience in a closely related field. May not be the most preferred scenario, but still an option. Many people start at MM, PE, or consulting, and then work their way through to the IB.
  4. Financial Modelling Courses. Don't go too hard on this one. In an interview, the most important part is impressing the recruiter and nailing the technical questions (for instance, when they ask you to walk through the financial statements, or about accretion/dilution, or statistics). It's better than nothing and would be a great add-on for your resume. WSO has one, but the very respectables and famous ones would be CFI-FMVA or Wall Street Prep.
  5. Network, Network, Network!! It may be very tough to network successfully for IB at a Non-Target school; however, it's still possible (difficulty depends on your school, so you know it better). Talk to your professors or other Investment Club members. You may make very valuable connections and meet people who could give you a game changing insight into the interview or workplace culture.
  6. Talk to your University Career Center advisor. Ask them if they could tell you how many students does every single bank hire. It may bring you some perspective on where your school stands in terms of recruitment. I don't know how well is your school's Career Center, but a couple of mock interviews would be a very good way to prepare yourself.
  7. Read about Finance (or M&A). I recommend doing it every day, 15-20 mins would be fine. That would allow you to learn the jargon a bit, as well as to stay on track with the current developments in the market. Also, keep track of indexes, like S&P500, Russel, Dow Jones, etc. In many interviews, they will want to see that you are on the same page with the economy. Even if they won't ask you about it - that would be an opportunity to impress. WSO has threads, where people share their experiences from the interviews, go give them a read. It will give you some understanding of how it works.

CFA1 Curriculum

Link to original comment: https://www.wallstreetoasis.com/comment/3255039#comment-3255039

 

Based on the most helpful WSO content, breaking into Investment Banking (IB) is not solely dependent on the prestige of your undergraduate institution. While it's true that target schools are often preferred, there are several other factors that can boost your chances. Here are a few:

  1. High GPA: Maintaining a high GPA is crucial. It shows your academic prowess and dedication, which are qualities highly valued in the finance industry.

  2. Networking: This is key in the finance world. Start building relationships with professionals in the industry, attend finance events, and reach out to alumni from your school who are in the field.

  3. Internships: Having relevant internships under your belt can significantly increase your chances. They provide practical experience and can often lead to full-time job offers.

  4. Skills: Proficiency in financial modeling and Excel, as well as a solid understanding of financial concepts, are essential.

  5. MBA: An MBA from a top school can definitely boost your chances of breaking into IB. It's a common path for many who didn't get into IB right out of undergrad.

So, don't worry, my friend. You haven't killed your goal of breaking into IB. It might require a bit more effort, but with dedication and the right strategy, it's definitely achievable. Keep your spirits high and keep swinging for the fences!

Sources: graduated may 2019 and recently laid off first job, Last chance for Investment Banking?, Do I have a chance to make it in IB?, https://www.wallstreetoasis.com/forum/investment-banking/do-i-have-a-chance-be-honest?customgpt=1

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

You got into service academies and you're going to where the fuck ...?

 

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