What is the ultimate “desired role?” and is IB the ultimate job?
(Preface: this thread is meant to be from the perspective of a semi-target/target school perspective)
Recently read into/spoke to people about why people at schools like HYPSM, Wharton, stern, get way better looks at HFs, PE firms, etc - typically what people want to exit from banking to. The other side of this conversation was that people at those elite elite schools wouldn’t even want to go into banking because they’re smarter and “don’t need” to start in a field like banking.
My question is: is this an accurate way to think? Or is banking even a prestigious job to be working in if you go to a semi-target school (Gtown, Cornell, NW, etc.)?
Not leaning towards either opinion, was just interesting
Based on the most helpful WSO content, here's the breakdown:
Is IB the ultimate job?
Investment banking (IB) is often seen as a stepping stone rather than the ultimate destination for many ambitious professionals. While it offers high pay, prestige, and a rigorous skill-building environment, the ultimate "desired role" for many is to exit into fields like private equity (PE), hedge funds (HF), venture capital (VC), or other buy-side roles. These roles are typically viewed as more lucrative, offering better work-life balance and the opportunity to manage investments directly.
Why do elite schools (HYPSM, Wharton, Stern, etc.) have better access to HFs/PE firms?
Is IB prestigious for semi-target students?
For students at semi-target schools (e.g., Georgetown, Cornell, Northwestern), breaking into IB is still considered a significant achievement. However, the perception of prestige can vary:
Are elite school students "smarter" or "better"?
While students at elite schools often have impressive credentials, it's not accurate to say they are inherently "smarter" or "better." The difference lies in access and opportunities. Semi-target students may need to hustle more—networking extensively, excelling academically, and gaining relevant experience—to compete with their target school peers.
In summary, IB is prestigious and valuable, especially for semi-target students, but it is often a means to an end rather than the ultimate goal. The real question is whether it aligns with your long-term career aspirations and personal interests.
Sources: Comprehensive List of Target Schools for Investment Banking, Is investment banking not as prestigious as most people think? Are kids that break in sub-par?, Is investment banking not as prestigious as most people think? Are kids that break in sub-par?, An old man looking for advice, A bunch of target / semi - target schools have decided to prevent banks from recruiting on campus before the fall
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