Hi, I am currently a sophomore at UCLA, pretty set and stone on wanting to enter ibanking.
But the problem with UCLA is that it's only a semi-target school and most firms that come on campus to recruit are actually for accounting and consulting. Anderson fares better but for undergraduate program, business economics at UCLA really isn't that great at all.
Would I have better chances at getting hired for SA internship my next year if I transfer to schools such as:
NYU, Emory, or Cornell?
Because from what I understand, students from schools like NYU already have an internship or two under their belt by their junior year (since they live right in the city). So if I transferred there without any previous internship experience, would it actually be worse (more competition, more difficult) than trying to get the SA internship from UCLA?
Thanks so much in advance.
You can get into banking coming from ANY school, if you work hard enough. I'm sick of these posts from people complaining about their non-target schools and using their university as a scapegoat for their recruiting failures. You have just a good chance from UCLA as you do from other top schools.
Anybody who prefaces their post with "...because I go to a non-target..." is automatically discredited in my opinion. Grow a set and do something about it... nobody is going to hand you a position, regardless of whether you're at a target.
People from UCLA generally tend to really suck at interviewing. They just don't know their technicals. Despite this, all the major LA banks still recruit there.
Your best bet is to differentiate yourself by being the anomaly that actually does well at interviewing. If you can do this, you'll get a job no problem.
Right. The undergrad courses at UCLA are actually more geared towards accounting than anything. Part of the reason for students not knowing their technicals may be partly because of this.
I've actually been spending much of my time reading/studying books on finance and vault's IB outside of class to prepare myself.
But the underlying question still is, would my chances go up at NYU/Emory/Cornell, or would I be worse off (competing with many more qualified students from the school)?
If you want West Coast, stay at UCLA. If you want East Coast, transfer.
b's post on how hes sick of people using their university as an excuse is blatantly ignorant and wrong. The fact of it is that where you go to school does make a huge difference. At semi-targets and non-targets, banks will take few to no analysts meaning your chances of getting a job is substantially lower than the student who goes to a target. Banks use college educational system itself to weed out having to review thousands of applicants... it helps to limit how much work they have to do to figure out who to give a job to.
That being said.... i am not sure how great NYU is as a target, or emory.... cornell is a solid target however. And yes, going to a more competitive school will hurt you as the competition goes up. That said... going to the more credible targets will vastly outweigh the competition factor.
As far as the internship thing goes... you should be able to find finance related or other work in a major metropolitan city. Offer to work only a few days a week or as much as they want and offer to work unpaid.
Ignorant and wrong? People use their school as an excuse for their laziness, plain and simple. A target can only get you as far as the first round. Guess what? I'm from a non-target and I've had 6 first rounds so far this year - many others have done even better. This board is full of half wits who aren't willing to put in the effort, yet dellusionally believe they are the greatest candidate ever, and complain about their school when they are unsuccessful at recruiting. Yes, it may be more difficult, but it is certainly more than managable. I refuse to believe that it's impossible to land a position from a non-target when there are countless success stories on these boards from non-target candidates. Bankerchic, navy suit gorilla, NewIBHire, myself etc. etc. the list goes on and on. If you weren't able to get a spot coming from a non-target, it is entirely on you... not your school.
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