Best Uni Courses for Buy Side in Australia/International
Hey, I’m in my last year of High School in Australia and would like a general consensus on what undergrad is most sought after for buy side careers. I am considering the Bachelor of Advanced Finance and Economics at the University of Queensland, which is a highly competitive, 4 year finance-specific degree. Some say it is saturated, taking in about 200 students last year. It is described as:
“This program aims to develop your analytical and technical skills to help you become a leading economist or financier in investment banking, capital markets, equity or venture capital, or the public sector. You'll study topics like how policy can affect economic and social outcomes, the effect of the Global Financial Crisis (GFC) on economic theory and monetary policy, and common financial issues facing most companies. As the program is highly structured, you'll develop strong networks within your cohort. At the end of your third year, you'll choose to major in either economics or finance, or to complete a more general pathway by undertaking electives, individual research topic, and a team project.”
I am also considering a double in Mathematics and Economics majoring in Quantitative Analysis. This is also 4 years and less competitive, with only a few people taking it last year. It is described as:
“This dual degree combines core economic skills and an understanding of how economics shapes areas such as public policy, business and industry, with mathematics analytical and quantitative abilities in a single four-year program. This major will help you make better decisions. You'll learn about the methods economists use to measure, analyse, predict and model a broad range of economic scenarios. With its strong mathematical and modelling focus, this major will show you how to analyse problems clearly and based on evidence. Advanced courses cover areas including statistics, econometric theory, and productivity and efficiency analysis.”
I am on-track to get into either course. What would be more sought after? Thanks.
Hey there, future financier! Both programs you're considering sound fantastic and could potentially open doors to a buy-side career. However, let's break down the specifics:
Bachelor of Advanced Finance and Economics at the University of Queensland: This program seems to offer a comprehensive understanding of finance and economics, which is crucial for any career in investment banking or finance. The fact that it's highly competitive could be a positive sign, indicating that it's a well-regarded program. The opportunity to specialize in either economics or finance in your third year could also be beneficial, allowing you to tailor your education to your career goals.
Double in Mathematics and Economics majoring in Quantitative Analysis: This program seems to offer a more analytical and mathematical approach to economics. This could be particularly useful if you're interested in roles that require strong quantitative skills, such as quantitative analyst roles in investment banks or hedge funds.
Ultimately, the choice between these two programs should depend on your interests and career goals. If you're more interested in traditional finance roles and enjoy studying economics, the first program might be a better fit. If you enjoy mathematics and are interested in more analytical roles, the second program might be more suitable.
Remember, your choice of program is just one factor that will influence your career prospects. Other factors, such as internships, networking, and extracurricular activities, can also play a significant role. Good luck with your decision!
Hey mate, I don’t think you can go wrong with either degree. Heard good things about both, know a couple of people who did BAFE and have done well for themselves on the sell-side.
However, do you plan on staying in Queensland?Plenty more buy-side opportunities in Sydney (or even Melbourne).
Thanks for the reply. I plan to go to Sydney (or perhaps London/Singapore if this is feasible?), not sure there’s much here in Brisbane. Are you currently in Aus? If so, do you have any advice for me as I start uni next year? I’d appreciate anything, I don’t know much about finance, especially in Australia. Thanks.
Yeah, I’m about to sleep but here’s some brutally honest advice if you plan on studying in Australia.
This is a cookie cutter guide to breaking into investment banking or PE in Australia.
If you want to go to Singapore or London, why not go to university in the UK? If you're going to get the ATAR required to get into BAFE you may have a shot at LSE/Oxbridge.
Echo above, solid advice. Alternatives include Comm+LLB at USyd for 5 years. Advantages might include alumni and having more time for internships etc., but BAFE is still a great choice.
For buy side in QLD, QIC take interns and grads, with Brisbane office, check out these profiles on LI and reach out.
Regarding international. Yes you can land in Singapore post graduation (or shortly after), had a friend do this straight out of uni for a PE shop there. Will need competitive internships, but there are options if you don't confine yourself to grad/analyst programs. Learning will be less structured and more self-driven.
London is more likely a Syd/Melb/(Bris if QIC perhaps), then transfer after 2 years. Can also do NYC this pathway. Another pathway is to recruit there without ar ole lined up, if this is a plan then consider going on semester exchange through UQ at Imperial or Uni College London.
Dont want to hijack the thread, but as an Australian studying in the UK I'm interested in potentially interning in Sydney.
Are there any Trackers/spreadsheets for when summer/winter internships open up?
Thanks
Closed already for this year, sorry bud. If you’re talking next year, by and large most open around march/april, and all close around 1-3 aug. Interviewing then generally occurs from the date of close to the friday of that week, with offers in hand by COB Friday. This isn’t the absolute rule, but it’s the general principle for most.
I wouldn’t apply for winters unless you’re confident you’ll be able to stick around for summers - they are generally seen as a pipeline sort of thing for summers so studying overseas can be a disqualifier because they’ll view it as a waste of time.
If you're set on studying in Australia, go with BAFE. They have good placement in Sydney. Despite only having been around for a few years, there are a number of Sydney bankers that I've come across with a BAFE. It seems to be a more rigorous and competitive environment than elsewhere as well, which is good practice for finance in general, both in terms of the recruitment process and the job itself. As for saturation, BAFE is, at least, more unique than the 1000+ Go8 LLB/Comm(Finance) kids that get pumped out on a yearly basis. As for your ending comment, neither course will be more "sought after". The Australian market is small and very competitive, so the majority of employers out there are going to have their pick of candidates from a wide variety of degrees. Choose the degree that you think you'd be able to excel more in, and pick that - better marks will go further than having a more "unique" degree as, at the end of the day, you're not going to get a look in unless you've got an 80+ WAM from either degree, that's just how it is, unfortunately. Another thing I'll just tack onto the end is that, at least at some banks, your ATAR does matter, as it's seen as a way to further cull the tsunami of applicants for a miniscule number of positions, meaning that, if anything, getting into a course with a higher entry requirement will be viewed positively from a signalling perspective.
All of that being said, I wouldn't get your hopes up too high in terms of getting a buyside role straight out of uni. They are incredibly rare and very hard to get, regardless of the degree you get - Hedge Funds and prop firms are typically looking for grads who either have or are close to a university medal in mathematics or economics, while PE firms are generally taking people who are of a similar calibre from a Finance background. If you're looking at going into HF, you're going to want to have a plan B, being to aim to get on an S&T desk at an IB or an Insto. For PE your plan B should be M&A or LevFin at a BBIB. Obviously aim high and stuff, but just be aware that it's difficult and as a result you shouldn't tie yourself to success in that particular venture as a measure of success overall.
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