No BS, Data-Backed Target Colleges for IB/PE
Below is the 2020 through 2025 averaged, data-backed tier list of Target colleges for IB/PE: Tier 1 (Ultra-Targets) (++++)
These schools have exceptional placement into top investment banks.
• Harvard • UPenn (Wharton) • Stanford • MIT
Tier 1.5 (Top Targets) (+++)
These schools are incredibly strong for IB but slightly behind Tier 1 in overall placement or buy-side recruiting. However, they place extremely well at top banks.
• UPenn (non-Wharton) • Columbia • University of Chicago (UChicago) • Duke • Dartmouth • Yale • Princeton
Tier 2 (High Targets) (++)
These schools place well into investment banking but have more internal competition or are less dominant in elite buy-side recruiting.
• Brown • Northwestern • Cornell • NYU (Stern) • UMich(Ross) • Georgetown (McDonough)
Tier 2.5 (Semi-Targets) (+)
These schools place many students into IB, but placement is more regional or focused on specific firms. Essentially, hustle to land top offers.
• UVA (McIntire) • Amherst • UC Berkeley (Haas) • University of Notre Dame (Mendoza) • Emory (Goizueta) • USC (Marshall) • UT Austin (McCombs)
Tier 3 (Semi-Targets)
Placement is possible but much tougher compared to higher tiers.
• Johns Hopkins • Northeastern • Vanderbilt • Washington University in St. Louis (Olin) • UCLA
Tier 4 (Semi-Targets)
These schools have some IB placement, but recruiting is significantly weaker and regional.
• UNC (Kenan-Flagler) • CMU (Tepper) • Boston College (Carroll) • Rice • Indiana University (Kelley IB Workshop only) • Brigham Young (Goldman Sachs pipeline)
Tier 5 (Lower Semi-Targets)
Breaking into IB from these schools is rare but possible.
• Williams College • Middlebury College • Claremont McKenna College • Texas A&M University • Penn State • University of Florida (Evercore pipeline) • University of Georgia
Tier 6 (Non-Targets but Recognizable)
These schools are not true targets but are still known in finance circles.
• Rutgers • Fordham • University of Wisconsin-Madison • Villanova • Southern Methodist University (SMU) • University of Washington (Seattle)
Tier 7 (True Non-Targets)
These schools have little to no on-campus recruitment.
• Most regional state schools • Community colleges • Lower-tier private universities without a strong finance presence
Based on the most helpful WSO content, your tiered list aligns well with the general consensus on target schools for IB/PE recruitment. Here's a concise breakdown of the tiers and their placement strength:
Tier 1 (Ultra-Targets) (++++):
These schools dominate IB/PE placement, with exceptional representation at top investment banks and buy-side firms: - Harvard
- UPenn (Wharton)
- Stanford
- MIT
Tier 1.5 (Top Targets) (+++):
Slightly behind Tier 1 but still incredibly strong for IB and buy-side recruiting: - UPenn (non-Wharton)
- Columbia
- University of Chicago (UChicago)
- Duke
- Dartmouth
- Yale
- Princeton
Tier 2 (High Targets) (++):
Strong placement into IB, though with more internal competition or less dominance in elite buy-side recruiting: - Brown
- Northwestern
- Cornell
- NYU (Stern)
- UMich (Ross)
- Georgetown (McDonough)
Tier 2.5 (Semi-Targets) (+):
Regional or firm-specific placement; requires more networking and effort to secure top offers: - UVA (McIntire)
- Amherst
- UC Berkeley (Haas)
- University of Notre Dame (Mendoza)
- Emory (Goizueta)
- USC (Marshall)
- UT Austin (McCombs)
Tier 3 (Semi-Targets):
Placement is possible but more challenging compared to higher tiers: - Johns Hopkins
- Northeastern
- Vanderbilt
- Washington University in St. Louis (Olin)
- UCLA
Tier 4 (Semi-Targets):
Weaker and more regional recruiting: - UNC (Kenan-Flagler)
- CMU (Tepper)
- Boston College (Carroll)
- Rice
- Indiana University (Kelley IB Workshop only)
- Brigham Young (Goldman Sachs pipeline)
Tier 5 (Lower Semi-Targets):
Breaking into IB is rare but achievable with effort: - Williams College
- Middlebury College
- Claremont McKenna College
- Texas A&M University
- Penn State
- University of Florida (Evercore pipeline)
- University of Georgia
Tier 6 (Non-Targets but Recognizable):
Known in finance circles but not true targets: - Rutgers
- Fordham
- University of Wisconsin-Madison
- Villanova
- Southern Methodist University (SMU)
- University of Washington (Seattle)
Tier 7 (True Non-Targets):
Little to no on-campus recruitment: - Most regional state schools
- Community colleges
- Lower-tier private universities without a strong finance presence
This tiered structure provides a clear roadmap for understanding the relative strength of schools in IB/PE recruitment. Networking and leveraging alumni connections are critical for schools in lower tiers.
Sources: Comprehensive List of Target Schools for Investment Banking, Comprehensive Undergraduate Target Schools Tier List 2020, School tier list for Investment banking 2023, 2023 UK Investment Banking Tier List, US Undergraduate University Tier Rankings 2023 - Backed by Data
"Data backed " yet no mention of what that data is nor the methadology used to collect/process it.
How do I give something MS twice?
Get a life
And if you think P and Y place into finance at the same rates as non-Wharton Penn or UChi, try again
JHU and NEU should be moved down a tier or two. Williams should also be no lower than Amherst.
This is accurate. Well done.
Qui adipisci nihil numquam voluptatibus sint ut impedit. Ullam dolor ex occaecati inventore eaque molestiae ab.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...