IB from a non-target university - Should I bother?
Hello everyone,
I am a second year student studying a PPE degree in the UK at a decent university... neither good nor bad, but at around the 30th place in the UK rankings. I've been hearing stories that discourage people from 'non-target' universities from applying to an IB position since there is very high competition and a lot of students from 'target' universities like Oxbridge and LSE are bound to apply to the sector. However, I have also been studying some online courses surrounding IB and financial analysis.
I mainly have two options on the table, the first being to go straight to IB, then do a PhD along the way should I find the time in the future, or to try to find a place more prestigious for a PhD then enter banking.
Assuming that I am on course for a First Class degree, would I have a chance in applying for IB, or would the competition be too tough for BBs to consider applicants like me? Would it be easier to take up a PhD on a better university then apply than to go straight to applying? This question is crucial before I devote more time on preparing applications for internships in IB.
Thanks in advance!
devote all the spare time you have to getting into IB, if IB is really want you want. Since the field of investment banking is very intense and requires a huge commitment, make absolutely sure that IB is really the career path that you want. If it is, then go for it with all you have.
Thanks. What are the most effective ways to do so? Apart from applying for internships, how does a student make themselves more appealing to employers?
Spring weeks, other internships, leadership positions, coding, European languages, networking with current bankers.
It can happen. I know someone from a top 30 UK currently at GS/JP/MS for IBD SA.
I am assuming you are applying for a grad role as you're ion second year. In which case I would just recommend doing a masters and reapplying for a summer this year...
A PhD does not do much for IB...
Thank you very much for your comment. This means a lot to me, and will help me to direct my efforts correctly. I've started learning French and soon I'm beginning German as well, and I hope to get along with the leadership of the efforts the correct way.
May I ask, though, since I'm doing a 4-year Master's, should I try to apply for internships this year? Many sites say that they accept students from their penultimate year.
As long as you're in you're penultimate year it is suitable, which in your case it is.
Have a backup plan e.g. Big 4 transaction services, boutique corp fin firms, which you can always attempt to lateral to BB later in your career.
good advice @InvestingScientist", take it
Thanks :)
A Phd will do you no good in IB. If anything, you will look overqualified for analyst roles and not have enough relevant experience to join as an associate. Go all-in on IB and apply to whatever corporate finance, MM IB, BB you can find. Cast a wide net and focus on gaining relevant internships. Spring weeks are also a great way of getting your foot through the door.
Thank you for your advice, I appreciate it. I'll go all-in for IB and apply for the spring weeks and internships.
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