Majoring in Physics instead of going to Ross
I'm a rising sophomore at Michigan. I am a physics major and have a good GPA (3.8). I'm very involved in finance/investment organizations and am confident that I'll get some sort of finance internship next summer.
I didn't want to go to Ross because I didn't want to rule the possibility of physics grad school out. Plus, undergrad b-schools are kind of lame.
I know that BB banks recruit at my school, but I'm not sure if they only recruit Ross students. Do I stand a chance if I'm not in Ross as long as I keep a high GPA, know how to network, and show my interest in finance?
I've heard physics grads often go into finance but it seems that only Harvard/MIT/Stanford/Princeton students have the liberty to major in something unrelated to finance (like physics) and still make it to the Street. Am I wrong?
Couldn't you have double majored in business at Ross and physics in the arts&sciences department? I'd agree with you in that an undergraduate business education may not exactly be "fulfilling" depending on the individual, but in the case of Ross, it's not about the education than it is about the brand name. Simply put, recruiters view Ross as the "creme of the crop" of UMichigan and of course this is reflected based on Ross' highly selective admission standards. Consequently it's not surprising that come recruiting time, wall street banks (who place heavy emphasis on pedigree) will be drawn mainly towards Ross students.
You said you are interested in physics - I am assuming then that you are mainly looking at trading? If so, then I highly doubt physics will put you at any disadvantage. However if you are looking towards traditional IBD, then your initial opportunities may be more limited than that of Ross students but then again, networking can diminish whatever advantage that Ross students may initially have had over you.
I don't think I'm good enough to be a trader (isn't that reserved for top Harvard/Stanford/MIT/Princeton math/physics majors?). I have a high GPA because I work hard but I don't think I can compete with top traders.
Any networking advice for breaking into IBD? How do I sell myself to BB recruiters?
do yourself a favor and go into ross, assuming you seriously want to pursue banking as a career. they do not let non-ross students access the resume drop, and it is very difficult to get your name out there. worst case, you double major in finance and physics.
then again, if youre actually convinced that undergrad b-school students are lame, youll probably hate the culture. its kind of a big circle jerk at ross.
Ask people at your school, or hope that another Ross student in this forum can help you out. No one can really tell you what your chances are without having some background on how kids in your position at your school performed with recruiters in the past. A good gpa in a hard science subject is looked well upon for a lot of things in business, generally speaking, and it shouldn't hold you back. However, most also understand that the top talent at Umich or any other school (interested in business) mostly ends up in the business school, and recruiters will have this perception and bias. Honestly, if you want to 100% hedge your bet with Ross, then just double major (if it's possible). Otherwise try to take a lot of math/physics electives on the side so you could put yourself in a position to get a double degree. Physics Graduate school vs. Wall street, makes it seem like you have no idea what you'd like to do. Pick whichever you like better, that you think you'd be better at, and then go forward with it. If you're weighing both options equally, then I'd go with the physics major because YES, you can still make it to the street with a hard science! Obviously a business degree can't get you into a physics graduate school, so this would make the most sense.
Nothing is reserved for anyone. No recruiter that recruits at Umich will outright deny you for majoring in physics as opposed to being in Ross (except big 4 accounting). The Ross kids may get some slight preferential treatment and perhaps the top Ross kids may get some opportunities not mentioned for the regular b school pool of applicants. Definitely take some accounting classes, corporate finance, investments, etc to get up to speed though.
What you're referring to is Quant Finance and it is indeed reserved for the extreme math nerds. This is different from S&T. I would suggest you do some reading on both banking and S&T and what each division actually does. Banking might sound glamorous until you actually realize what it entails (fair warning). At the end of the day, it sounds to me like your into physics, so why not do that?
your last paragraph is true - semi and non target students do not have the luxury of pursuing what they think is "interesting" and absolutely should be finance majors when possible (exceptions exist but what i just said is more of the rule). i'd definitely do finance at ross and either double major or minor in physics
I actually went to a shitty state school and majored in physics (and now work at one of the big banks)... maybe I'm the exception, but it certainly is possible; just giving hope to the OP!
I did too (STEM from semi but basically nontarget) and I know I'm the exception
Go to Ross unless you want to become a quant at a BB.
If trading really interests you, a top GPA STEM from Michigan should make you an interesting applicant in Chicago. The trading firms in Chicago are always interested in Big 10 STEM degrees and many of them recruit in Ann Arbor. And U Mich has a great alumni network in Chicago finance. Don't be concerned at all about not having gone to Harvard.
I've seen resumes from N'Western/Mich type school kids in IBD at BBs who have STEM majors. You are fine.
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