I currently attend University of Arkansas and I am going into my sophomore year this fall. I am very interested in going into IB after talking to our CEO at my current sales internship. The company I work for now is a DataTech and IT Solutions company who was recently bought by a VC firm in Dallas. I have become very interested in going into IB/VC after college, but I was wondering how a Arkansas finance degree would be in the IB world?
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pretty shitty but I go to a shitty school and am on a solid trajectory. You guys probably have a selective club or student-managed fund that you can join, a couple of regional boutiques they toss around, and a small, but devoted alumni network. Utilize the 3 to the max and you'll be fine
I know a good amount of people come out of Arkansas and work at Stephens, but how is the experience of working at a smaller boutique?
I don't go to Arkansas, another big state school in the West though. We have a couple of banks and pe shops near our school and I can confidently say that some provide an incredible experience. I'm currently slamming a CIM and I've been on some very cool calls, but some are shit. Boutiques are all about finding where you're going to get the most experience you can actually speak about.
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Broke into a BB from an SEC school, feel free to PM.
I cant seem to DM since you are private.
Stephens probably it…and will need to be one of top finance students there…
Second this - knew a few people from my HS who went to Arkansas. You have to get into the Arkansas’s Arvest AND Rebsman fund to be even considered. I think they take 5-10 kids a year. Knew a guy who did these funds with a 4.0 and a perfect ACT who didn’t get into Stephens IB from Arkansas. It’s more based on fit and if you’re a good ole southern boy.
Very limited exit opps though. It’s for life time bankers who want to be in LR forever (hard pass). Also from my friend there right now they have terrible deal flow and bonuses were nonexistent last year.
Best advice is ensure you get into those funds and start networking there ASAP. Also do a summer internship there as well.
If you have good stats I would transfer schools and then recruit.
Not sure where this guy got his information, but it is pretty inaccurate. Stephens IB typically takes 1 person per cycle from UARK, sometimes 2.
Correct about needing to be in the portfolio management or fixed income class. Pretty much is required to have a shot. Need ~3.7+ GPA and 28+ ACT. Definitely has more to do with fit than anything. Nobody wants to work with a robot.
Exit opps are not that limited, unless you are trying to go to NY afterwards. After finishing the analyst program, you will have a very good chance of getting into any PE or VC fund in any major market other than NY, Chicago, and LA. There are tons of opportunities in Nashville, Dallas, Atlanta, Denver, KC, etc. Still very possible to get into those other markets but you just won't be a shoe in.
Deal flow is actually great, especially in Little Rock. Being the HQ office, Little Rock analysts get staffed with bankers across every covered vertical and every Stephens office in the country. Deal teams are very lean, and have the opportunity for a lot of face time with senior bankers compared to BBs. This is probably the biggest perk of working at Stephens. Typical hours are 70-80 per week and deal flow stays pretty constant. I promise you, you will learn a hell of a lot more at Stephens than what they are teaching at the BBs. Stephens invests heavily in its analysts, with a high percentage staying on as associates every year. Can't say the same for BBs, which are only looking for someone to do the grunt work for two years and then leave.
You can expect 30-45% in bonus. Total first year comp around $150k while enjoying the cost of living. Even in down markets, total comp/bonus do not fluctuate at Stephens like every other bank
I will agree, best course of action is to get into the student-managed fund classes, start networking with current Stephens analysts and associates, and get into the upcoming summer internship cycle (starts in Aug-Sept)
I'm in NYC and I don't think I've met a single Arkansas grad in IB/PE/VC lmao
Arkansas is an excellent school, but it is more of a location issue. Everyone is stressing GPA ( which is important), but it is really internships that are the most important. Fayetteville and Little Rock are 3 hours from each other. I would start with trying to get an internship at Wal-Mart corp-dev, corp-treasury or corp fin and work from there. Bentonville is closer. Wal-Mart also looks impressive on a resume.
Do you want to be in NYC, Dallas or any other place when you graduate. Start networking. A backup plan is to go to the Big-Four when you graduate then try to move into a BB after 1-2 years. I see plenty of Lev-fin and M&A job adds asking for Big 4 experience. The big issue with U of Arkansas or any big state school in the Mid-south, Midwest is that banking(especially in a big city) is not a popular route after school so recruiters will not bother with those schools. You need to network and talk to people. Don't be intimated by not going to an elite school. Most kids coming from elite schools majored in bullshit and offer nothing of value. Trust me, I have seen this up close.
I plan on moving to Dallas or trying to work in the area. I do not really see myself going to NY or up north honestly but a decent sized bank in Dallas is really what I’m looking for.
Dallas is less obsessed about prestige than NYC. Well every city is less obsessed about prestige than NYC. Start networking. Look also at regional corporate and commercial banks. Investment Banks do hire people with a corporate banking background for both M&A and DCM roles. Also check out opportunities at the O&G companies as well.
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