Non-Target Freshman: Should I stay or should I go
I'm hoping to get some advice from anybody who's been in a similar position or has experience and can help a friend out.
I'm a Canadian freshman attending a Canadian very non-target school in Canada (not Ontario) pursuing investment banking. I have a lot of other things going for me, and I've been speaking to a lot of people for advice, but on this specific topic it's been very inconclusive.
For background, I did pretty well in highschool coming from a poor public school in the city, and got full scholarship to this university, and I chose to go there because it is in my hometown and I don't have much money, so I save a boatload of $$$.
I have a lot going for me - a decent internship in my summer between high school/uni that I got almost by accident that piqued my interest in finance, good grades, involved in a couple clubs in my uni, and i'm beginning to do case comps/stock pitches with good results. I've had calls over 30 industry pros in several cities and got a few of them to like me, and read all the articles and the basics. I feel like I'm doing a great job, but I also always feel behind because of my mediocre school. I turned down the top Canadian schools to go here and I'm feeling like I'm making a mistake
Going to another university would require me to move cities and pay tuition and relocation fees - i would transfer to Queens/Ivey. If I stayed, I'd likely spend the summer at that same capital market internship, try to do a couple more to stack my resume, and then in my 3rd year (i'd take 5) recruit for the US banks in NYC/LA.
So, should I stay or should I go? If I should go, should I transfer at the end of my first year or at the end of my second (to save on tuition and also go to Ivey). And if I stay, what should the plan of action be?
Any advice would be appreciated. Happy to learn, this is my first post here but I've been reading for a little bit.
Thank you
Can you give a ballpark in terms of how nontarget? SFU/Concordia/DeGroote? Those ones I think are doable to place into B5 and maybe globals if you are a god. If you mean something worse than that, (why do i have a gut feeling you're a dal kid) then maybe transferring is the play.
Keep in mind if you transfer you need to completely rebuild your reputation, a place like Queens for example has already hired for all their clubs, and you'll never get on WIC as a transfer (not that it would matter given you've already finished recruiting). Queens takes low single digits for transfers so keep in mind with regards to that. Ivey transfer is more doable but like I mentioned you'll already have finished recruiting, so what then?
Also, you're talking about internships like you've got them already. Sophomore recruiting is hard, especially without something interesting freshman. Places like Altas/Whitehorse/Novacap typically take from the targets for oncycle, and sophomore banking spots dwindle by the day (unless you qualify for RBC/BMO/Scotia).
Yeah, SFU/Concordia/DeGroote is spot on - one of those three.
I agree the Ivey transfer is more doable - but that's what I'm worried, if I'm recruiting in my second year it won't even matter where I go after.
Not sure if it would be looked down upon to take 5 years - but then I'd be able to spend the extra year hopefully doing something. I think globals would be the goal, but I understand it's very improbable and I'd be over the moon for big 6 IB - which is definably doable.
I'm really not sure what to do. Maybe land a off cycle sophomore IB job - although yeah, spots are dwindling.
Really just looking for any advice. also not a diversity candidate.
B5 from one of those three is absolutely doable. It happens every year, make sure you're on JMIS/DFIC/whatever the SFU one is called and know your seniors super well. I have faith you can do it.
Hey also a non-target freshman but at Brock. I learned more about finance through my school's finance club, but it's not much. Should I try to transfer somewhere else in Ontario or stay? TIA
I think if you go to Brock you should seriously consider transferring, if I recall correctly barely any banking placements even from the finance club. But they do seem to do well with HydroOne for some reason and those guys top the sunshine list in Ontario.
the schools mentioned above are marginal, they all have (some) placements in B5 usually every year, they're all located in/next to IB cities, they are all pretty much the second-best university in the city (yes ik McMaster is in Hamilton not Toronto but the idea is that people know about them). Brock? If I went to Brock, I'd be looking to transfer for sure. They just don't have the resources, reputation or alumni as even the middle-road schools in this list
Concordia is actually nice with it tbh - ACIIC team last year is a bunch of gems. I would only consider transferring if you are at SFU/DeGroote and you don’t just need to transfer to Ivey/Queens anymore for NYC. Remember, UBC/McGill/Laurier/Waterloo (and even Concordia) place decently well into the States.
Agree with the first comment though in general - just adding some context.
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