Importance of First Class for Buyside Exit
Hi all, I'm a final year student starting FT at a US BB in July.
I do a notoriously tough degree at oxbridge and now with the return of in-person exams, I think a 2:1 is the grade I am going to end up with.
Is there is a meaningful difference in exit opportunities for those who have a 2:1 instead of a First? Is this something that Headhunters/ funds care about?
I don't think anyone would care. Funds and recruiters will probably pay more attention to your group and the deals you've worked on instead of your result at undergrad level. Tough Oxbridge undergrad + Top IBD experience already helps you stand out a lot.
If you see that you'll likely end up around the 67-69% mark, why not try a bit harder to get a First though? You only do undergrad once and maybe it will annoy you if you don't actually get a First? It's your own call - either way you're doing great.
Most will tell you it doesn't matter, and it probably doesn't relative to other factors, but having gone through the process in the last year I can tell you that everything that can be quantitatively compared matters. Especially if recruiting for UMM and MF level.
Matters more so if you're from a non-elite school or non-STEM degree (in your case you will be OK).
Recruiters have straight up rejected me for MM PE roles, as I didn't go to Oxford (fund especially requested that background only, oddly).
TLDR: if you're a 2.1 Exeter economics grad who landed in IBD, you have done exceptionally well to get there, but the future career steps will be even harder.
Based on my recruiting experience I rank by importance what is needed for buyside exit in europe:
Top 10 position: Diversity - different and easier interviews, so funds can tick the boxes
French speakers are more sought after right now than German speakers, but in general they're the best two. Nordics are a distant second
Some large-cap Funds really do care quite a bit.
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