I have been networking with a few banks/boutiques and looking at analyst profiles on linkedin and it seems like some only hire within top 10 business schools and Ivy's. Are there some that are very elitist and not worth trying to network into? My school has no alumni, so getting someone to pull some strings will not happen at these top schools.
On the other hand, I have had some good success with some of the lower BBs and MM boutiques.
I think networking at the bb's is extremely easy vs networking at boutiques. Lazard didn't even give me a look :( and I'm still landing interviews at most of the bulge brackets.
Yeah, I have realized, trying to break through to Lazard has been pointless
From what I've seen, I'd say Blackstone (M&A, R&R, PE). Centerview is also chock-full of Ivies, though I'd say they are less impressive than the kids at Lazard or GHL, both of which have plenty of "semi-target" kids (Emory, Queens in Canada, Texas, etc.).
I networked with a hotshot at BX who's an alum from my school and he told me straight up that there wasn't even a shot at being considered lol. I knew it too, that's when you cut your loss and head over to the next bank. You will find the process to be very random as I was able to land interviews with ms, gs, barcap, ubs, and db but couldn't land an interview with macquarie, rbc, and even duff and phelps lol. Just keep at it man.
this is true I am a non-target and got looks from a few BB and top MM firms and some lower MM firms even with someone passing my resume along and me reaching out to the recruiter didn't give me interviews
lazard targets many semi-target schools in EU, but also takes a good look at candidates from any school
Most of the elite boutiques (EVR / CEN / GHL) tend to stick with their target schools.
Elite boutiques are significantly harder to network into. They are much more cautious when it comes to hiring because they want someone who already knows the ropes.
Evercore/Lazard/moelis/Quatalyst as examples would unlikely hire a non-target.
They have too much to lose by hiring a non-target who does not perform, at a BB there are so many hires that it is okay to have a few bad ones, you give them the garbage work and churn + burn them.
This is why people who actually work in the industry are adament about not getting into prestige whoring contests, because in reality, the work you do will determine your future. Eg: spending 2 years at MS spreading comps all day is not as impressive as a person at Evercore who completed 2 M&A transactions
Off-topic but just saw your website referenced on wheninwallstreet haha.
Awesome page bro....hahaha
I received an interview at BX by just submitting an app online and I'm at a non-target. Definitely possible.
Is a Non Target School Really That Bad? (Originally Posted: 12/26/2016)
Hey, I am a high school senior and I was just wondering how difficult it really is if someone is from a non target (ex: ECU, UNCW, or let's throw in Elon.) If someone maintains a 3.8 or 3.9, is it still going to be impossible to find a internship at say, JP Morgan, SunTrust, BNP PARIBAS, small-regional boutiques?
Obviously the alumni network and maintaining a 3.9 at ECU is nothing compared to a 3.9 at Villanova, NYU, Ivies, or a Target like Michigan, but I have a feeling it isn't really and after all of you aren't aspiring to land a summer ib analyst internship at a BB or Tier 2 Banks.
Any help is appreciated.
Edit: I meant to say after all I am not aspiring...
It's going to be next to impossible from any of those schools listed, although I have seen some Elon folks in Charlotte. Banks include BAML, WF, and a few decent MMs.
its bad if you're not proactive. target school students get a ton of exposure to recruiting and a good deal of bankers tend to be alumni. if you're at a non-target, you've gotta grind your way into coffee chats and a ton of networking just to get the first round. after that, you should be fine as long as you're prepared.
This is true but I can't imagine there are many UNCW or ECU alumni in IB. Don't mean to crap on these schools but even for NC IB, there are at least five other schools in state that are better in terms of IB recruiting.
UNCW and ECU grads are uncommon, mostly you see Chapel Hill, Duke, Wake and a decent UVA contingent. Of the non-targets you'll see some UNCC folks, Davidson, USC, State, I have never seen anyone from Queens, Catawba. PM me if you have questions.
i go to a non target and i've got my internship for summer from jp, i'd say it takes a lot more gpa aswell as actual communication skills to nudge your way in.
Non-targets make early-career-related things an order of magnitude more difficult, so if you can go to a target, you should do so
This.
And if you do get to a non-target, bust your ass the first year and then transfer. I wish that I had done that.
Just go to a target if you can. There's nothing about a non-target that you can't get at a target, but there's a lot you can get at a target that won't be at a non-target. I am content with my undergrad non-target because it was an experience that was appropriate for me at the time. But there's no reason to be on WSO and in HS and still not go to a target school.
If you can get into a target go to a target.
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Just to clarify, you guys do realize the absurd game of prestige ookie cookie is only referring to the FO, rit? More than once, I've applied to BB jobs, did the phone interview, threw on my monkey suit and jackassed in for an interview, and only THEN was told that we weren't discussing what I applied for by a mile. HH's particularly love this stunt as they're simply paid how fast they can move people. Obviously disregard this, if you're one of those people who cares more about WHERE you're working, than WHAT you're doing.
How much does going to a state school hurt your chances? (Originally Posted: 11/12/2016)
I am interested at some point in working for either a top MF PE shop (think Apollo, Blackstone, KKR) and potentially one day getting my MBA from a top business school. I currently go to a top 15 public state school (think University of Texas, U of Wisconsin, U of Washington) and have a solid GPA . I also will be returning FT to work at a top BB investment bank full time next summer that in the past has had a solid reputation with placing analysts at top PE shops. Was wondering if anyone knew if state school kids also have a shot at those MF PE shops. I've heard that even if you go to a top BB investment bank, headhunters will still overlook you if you lack a "brand name" ivy league school on your resume and have also heard that Top B-Schools will do the same. Thoughts?
If only there were some database that listed where people worked and went to school and some way to search it...
I've checked linkedin, the results I find arn't too reassuring but was wondering if people heard otherwise
Yes, you can get into megafunds from GS
but what are your chances of getting an offer from the GS if you work a there already? I hear state school kids re-return offer rate to the GS is practically zero.
Might go slightly against you....there is an admitted undercurrent of bias towards Ivy League prep school kids.
That said the BB name and your deal experience matter much, much, more
You will never live a happy life if you didn't go to Ivy
HS senior at the moment, going undergrad next year.
after checking out the forums here it seems that this is true. they way to a BB front office is through an ivy. should one even bother to go in finance if he cant get in an ivy or top-10 school? genuinely curious.
With such low self-esteem and narrow concentration on ivy credentials, you might as well not even make an effort to enter IB. There are as many accomplished individuals who are state grads as there are ivy grads.
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If you end up taking a path less traveled, make sure you blaze a trail of success. That track record matters a lot more than you think. Bill Ackman came from the ivy league, Mason Hawkins came from the SEC, PTJ - UVA.... Who would you bet on?
A couple years ago when I was recruiting Perella Weinberg was hot stuff and absurdly tough to get into. Haven't heard much about them lately though.
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