Why does IB recruit from top schools?
Especially since IB doesn't require especially mentally tough work? The only explanation that I can think of is that top students have a good track record of hard work.
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It's an easy filter. Why bother with kids going to a shitty school who likely don't have a track record of putting in enough effort, or aren't smart enough, when you can have your pick of students from Harvard?
Probably because they think that Ivey leagues only accepted the best candidates. Also knowing how hard it is to get into those schools may think they’re getting hard workers.
allows them to focus more on personality and fit since everyone has the academic horse power
Taking a cynical approach (not judging the merits of the situation) ... if you have 10,000 applications for 100 spots then picking from top schools is an easy way to filter CVs , gurantee baseline competence, and rightly or wrongly mitigate risk (HR faces less sh** if a Harvard grad is a dud vs ASU grad).
No one argues that the job requires a great deal of intellect, but if there are 1k apps for every seat, then its hard to argue that HR should value all universities equally. And after a while, the same ~20/~5 schools (US/UK) will be most represented and alumni will refer/help current students.
I mean also if you look at true non targets there is maybe 1 or 2 qualified candidates a year for banking. When I say qualified I mean like actually have put in the work to learn about the markets and network. I have seen these people make it, but they truly are the one person who could of gone to a top school, but just didn't have the resources(money) to go to a top school.
JP Morgan is trying to move away from this.
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