I was intrigued by the amount of hype IU's IBW gets on WSO and looked up their placements. They have a PJT RSSG for the last 3 years and many GS, MOE, LAZ, etc., pretty much every other BB/EB. How is this possible? Simply just curious, would love input from current IBW members.
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How is that possible?
IU Kelley's Investment Banking Workshop (IBW) garners significant attention because of its impressive placement record, which rivals many target schools. Here's why this is possible:
Selective Admission Process: The IBW is extremely competitive, admitting only 60 students per grade. Applicants need an average GPA of 3.96, complete 16-20 networking chats with current members, and excel in the F255 investment banking weeder class. This rigorous selection ensures only the most driven and capable students are admitted.
Strong Placement Network: The program has a history of placing students at top firms like Moelis, PWP, Lazard, KKR, Blackstone, Evercore, and Centerview. Even students who don't land at elite boutiques or bulge brackets are guaranteed at least middle-market offers.
Faculty and Alumni Support: The professor leading the program plays a pivotal role in recommending candidates to top banks. This direct endorsement significantly boosts students' chances of landing interviews and offers.
Networking and Connections: Much of the program's success is attributed to its emphasis on networking. Students leverage connections through business fraternities, Greek life, and alumni networks, which are critical for securing top roles.
Reputation Among Banks: Banks recognize the IBW as a pipeline for top talent. This reputation ensures consistent recruitment from firms like Goldman Sachs, Morgan Stanley, and Evercore.
Preparation and Training: The workshop provides specialized training for interviews and technical skills, giving students a competitive edge during recruitment.
While IU Kelley is considered a "non-target" school overall, the IBW's structure, exclusivity, and strong alumni network make it a standout program for investment banking placements.
Sources: IU Kelley Prestige, IU Kelley Investment Banking Workshop admission questions, IU Kelley thread 2023, Comprehensive Undergraduate Target Schools Tier List 2020, UCLA vs IU Kelley
put 2k hardos at South Alabama and youll get gs. GL with ibw
Didn’t go to Indiana, but worked with a few this past summer for SA at a MOE/EVR/PWP in NY. I also have a good hometown friend in the IBW.
Obviously Indiana’s brand name is not the best, but the school places lights out given their university ranking. Seems like over the last decade (maybe even longer), they’ve built out pipelines into all the top banks on the street. From what I’ve heard, they are a target school for PWP, EVR, MOE, CVP, and even get placements at GS, PJT Rx, Allen & Co., LionTree, JPM, Q, etc.
IMO, it’s a bit of a risky gamble going to IU over a more traditional target school. However, if you strike out everywhere else, I don’t think it closes any doors in terms of recruiting (given you get into IBW, which has like a ~15% acceptance rate or something).
Last point, the IU kids in my class were also quite good. Most came in with solid knowledge of technicals + excel/ppt. And in terms of group placement, the IU guys seem to occupy seats in the most desirable groups at my bank.
Might seem like I'm glazing the school a bit, just think IU gets a lot of flack from insecure HYPSM kids who lost out on positions to over-prepared IU students.
Just my 2 cents. Would appreciate not getting MS for this lol.
Pretty much all correct but the acceptance rate is way higher than that. Of the 220ish kids that applied roughly 80 will get into the IBW or PEW (the other workshop which is even better than IBW)
I totally don't get the competitive clubs thing, but I am old. I transferred into UIUC from CU Boulder and was immediately treasurer of the finance club, which had a big budget and no one else wanted it as it required some real work on documentation.
It's not that hard to be a top student...our faculty leader for our club was the head of the finance department. She was awesome, but I never had her as a teacher. She ran up and hugged me at graduation when she learned I was #6 out of 2,000 in our finance graduating class (plus Mech E). She had no idea...her 2nd in command from faculty did have me in class and more or less said I just crushed it so no big deal. It was a funny moment. I'm pretty laid back and was a transfer, definitely not a hardo. My take is that being top 15% at IU (or any top public school) isn't that hard. If you can't do that, you will likely also fail at banking.
Don't go to Kelley but my brother did and is an IBW alum, couple years out in banking, one thing he kept saying when I was thinking between colleges was that being at IU and in IBW doesn't make it easy to get into interview rooms and is very much a long grind (except for MOE/PWP/BofA; apparently they have something called IU process?? don't know too much on it) but once they're in, they do well. That's basically their whole motto, they train the IBW kids in techs, valuations, fit questions, etc... very well that when an IBW kid gets an interview its easy for them to stand out being considered a "semi-target'"; and adding on to above, they take those skills to the desk and do well
Also, BIG 10 school means many alumni across many firms. A lot at high positions, ex. one guy at BofA been at the firm >10 years and drives their IU recruitment
One more thing, I go to a target on east coast but we don't have any class/club to teach us, so my brother sent all the slidedecks, notes, models, etc that was used during the IBW his year and will definitely say they know their shit; was seeing stuff I never saw/got asked in interviews or saw online, and I learned a lot from it alone (aka any IU student can understand banking outside of IBW if sent the files, but apparently really strict with sending it outside of IBW)
But some cons and the main reason I didn't go to IU (might be good to check numbers, couple years outdated) was that only 70/80 people are admitted into the IBW and over 500 apply, and of that 70/80, really only 10/20 are placing at top 10 firms you mentioned, and many in Chicago (IMO step down from NYC, still very good no hate)
TL;DR IBW is good only if you're good/willing to work
What’s the placement rate of iBW in general? Not just at top end
current IBW student, most sign (90-95%) all the way from BB/EB to LMM and firms I've never heard of
Not a fan of IU in any way what so ever, but being in IBW in a school like Kelley which is flooded with wanna be bankers signal that you are the cream of the crop. Unsure about the selection process, and its probably not the end all be all, but IBW is an indicator that amoungst the noise the candidate stands out.
Respectfully, you do not know what you are talking about.
The exponential increase in availability of information about IB recruiting created legions of state school hardos and banks realised these kids perform better than entitled Ivy leaguers
The difference is that Kelley started doing this before the increase in availability of info, and the school made it an academic program instead of a student club. The IBW started in early 2000s, and banks learned that poor kids from rural Indiana would work really hard to make more money than they could have imagined. There is nothing like poverty to motivate hard work.
With Kelley increasingly less populated with Indiana students and being overrun with kids from the coasts who did not get into Ivies, I worry how the IBW will maintain that culture/reputation.
Man it’s even better that this comment is coming from somebody verified at Harvard management company - and couldn’t be further from the truth
I doubt half the kids in IBW at Indiana are even from Indiana - nevermind rural and poor
There’s a bizarre amount of kids from NY/NJ/CT/PA at the school and IBW program
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