Breaking into London IB / US Mega-Fund PE from Germany without a UK Target University – Realistic Paths?
Hi everyone,
I'm a German student trying to figure out the most realistic route into investment banking, with New York as my ultimate career goal. London is primarily a means to an end for me: a gateway to the US and other international financial centres, rather than somewhere I necessarily want to settle long-term.
I'd particularly appreciate advice from Europeans from Germany, Austria, or Switzerland who have navigated a similar path without attending a traditional target university.
My background
I have a German Abitur with a final grade of 1.6, which I understand roughly translates to AAB at A-level, although equivalencies vary by university. This makes admission to traditional UK targets such as LSE, Oxford, Cambridge, Warwick, and potentially UCL difficult.
St. Gallen would be an attractive option, but the cost is prohibitive for me. Bocconi is another possibility, although I'm concerned that my grades from earlier years of secondary school could affect my application.
Realistically, my main university options in Germany would be Goethe University Frankfurt (my preferred choice), the University of Mannheim, and potentially WHU, although the latter is more of a long shot.
I'm aware that some candidates from German universities manage to break into London IB directly after their bachelor's. However, from what I've seen, these candidates often have unusually strong profiles, including one or two relevant internships even before starting university and exceptionally strong school grades, sometimes around 0.7–1.0 in the German grading system.
My 1.6 Abitur is certainly respectable, but it is not in that category. Based on my current understanding, I would struggle to secure spring weeks at banks such as Citi, Bank of America, or Barclays with my school grades, which could make building an early internship track record considerably more difficult. I'm happy to be corrected if this assumption is wrong, but I'd like advice based on my actual starting point rather than exceptional success stories.
My long-term goal: New York, with London as the stepping stone
My ultimate goal is to work in New York, ideally in investment banking or, eventually, at a top private equity fund. I see London as the most attractive potential stepping stone because of its concentration of global banks, elite boutiques, and leading PE funds, as well as the international mobility it can offer.
In particular, I want to keep several routes open:
- IB → New York: Join a global bank in London and pursue an internal transfer to its New York office.
- IB → PE → New York: Join a leading PE fund after approximately 1–2 years in IB, then potentially transfer from its London office to New York.
- Other international opportunities: Depending on the bank, role, and available opportunities, potentially move to financial centres such as Dubai, Doha, or Singapore.
I'm aware that these moves are far from guaranteed and depend on performance, hiring needs, visa requirements, and the specific firm. Nevertheless, I value the optionality that London can provide. In my view, Frankfurt does not offer the same breadth of international opportunities, particularly if New York is the ultimate objective.
I'd also appreciate being corrected if experienced bankers believe I'm overestimating London's advantages or underestimating alternative routes from Germany.
My main questions
- University choice: Would you recommend studying at Goethe University Frankfurt, Mannheim, or potentially WHU, or attending a less selective UK university? Which options offer the most credible route into London IB recruiting?
- Recruiting strategy: Given my Abitur grade, how would you approach spring weeks, summer internships, off-cycle internships, and networking? Can a strong university GPA and relevant experience compensate for weaker school grades?
- Alternative entry routes: Would starting at a German bank and lateraling to London be viable, or would that add too much time and uncertainty?
- Choosing the right platform: If international mobility is my priority, would you favour a global bank with strong internal transfer opportunities, an elite boutique, or maximizing my chances of entering PE as early as possible? Which route would best position me for a future move to New York?
- Bachelor's vs. master's / gap year: If I complete a three-year bachelor's at one of these universities, would it make more sense to spend a gap year completing relevant internships and strengthening my CV, or pursue a one- to 1.5-year master's at a prestigious institution such as HEC Paris, LSE, or London Business School? Would the stronger brand name and recruiting access justify the additional time, or could a strong internship record achieve a similar outcome more efficiently?
- Experiences from DACH candidates: Has anyone from Germany, Austria, or Switzerland successfully broken into London IB without attending LSE, Oxbridge, Warwick, UCL, HSG, or Bocconi? Ideally, I'd love to hear from people who started with a similar school-leaving grade and didn't already have exceptional internships before university. What did your actual path look like, and what would you do differently today?
My priority is to reach London IB within approximately 4–4.5 years from starting university. Five years would be something I'd prefer to avoid if possible.
I'm not looking for reassurance that everything is possible. I'd much rather hear realistic assessments, including unconventional routes, potential dead ends, and mistakes to avoid.
Thanks in advance for any advice, especially from people who have actually made the transition from a German university to London and, ideally, subsequently to New York.
Breaking into London IB and eventually transitioning to a US mega-fund PE from Germany without attending a UK target university is challenging but achievable with the right strategy. Based on the most helpful WSO content and insights from DACH candidates, here’s a breakdown of your questions and potential paths:
1. University Choice
Goethe University Frankfurt, Mannheim, or WHU?
Less selective UK universities?
St. Gallen or Bocconi?
2. Recruiting Strategy
Spring Weeks and Internships:
Networking:
Technical Skills:
3. Alternative Entry Routes
Starting at a German Bank:
Elite Boutiques or Smaller Firms:
4. Choosing the Right Platform
Global Banks vs. Elite Boutiques:
PE Focus:
5. Bachelor’s vs. Master’s / Gap Year
Gap Year for Internships:
Master’s at a Prestigious Institution:
6. Experiences from DACH Candidates
Paths Taken by Others:
Key Takeaways:
Realistic Timeline
Final Thoughts
Breaking into London IB and eventually transitioning to New York is challenging but achievable with a clear strategy. Focus on building a strong internship track record, maintaining a high GPA, and leveraging networking opportunities. While your Abitur grade may limit some early opportunities, persistence and strategic planning can help you overcome this hurdle.
Sources: International Student - Chance of getting an IBD internship in London?, Transitioning from Tech Sales to IB, A Guide for Switching From Commercial Banking to Investment Banking, The Allure of Investment Banking
Try the Canary Wharfian website, most advice here is US focussed
As someone who studied in the UK and Germany and has made it to a BB in London, I don’t think you need to worry about your Abi too much. If I were you I would study at FS/Goethe/Mannheim, try maximise UK applications but also recruit here. But understand it’s a complete different ball game. It’s doable but not easy - especially as a German where you will be competing against many equally qualified applicants and most likely be put in a separate pool and not with the British students who lack internships. But know that the UK (for the big banks at least) is moving away from targets, networking, and further towards blind admissions. You need to perfect your OAs, HVs and so on to stand a chance
Thank you very much for sharing your experience and advice! It's reassuring to hear that the route is doable, even if highly competitive.
I wanted to ask whether you think bulge brackets such as GS, JPM, MS, BofA, Citi and Barclays are meaningfully more accessible straight out of a German target bachelor's than elite boutiques like Evercore, PJT, Centerview or Perella Weinberg (for their london offices, that is). In other words, are the BBs' larger analyst classes and potentially less elitist recruiting criteria a slight advantage, whereas the top EBs might be more conservative and place greater emphasis on attending target universities such as LSE, Oxbridge, Bocconi or Imperial at the undergraduate level? If you don't have that background, would a master's at HEC, LBS or Oxbridge be more important for breaking into an elite boutique than a BB? I plan on most likely doing a masters anyways, but it’d be interesting to see in how far they differ from each other.
Of course, I completely understand if you're less familiar with the elite boutique recruiting landscape, but I'd appreciate any insights you might potentially have. Thanks again!
I would say your uni is more important for a boutique than for a BB. As I said. HR controls recruitment in the UK and BBs have much larger HR departments and are thus bound by much stricter non discriminatory bylaws etc. this means referrals pretty much don’t exist as corporate policy prevents them from being meaningful. Unlike German internship admissions, almost every bank and boutique will make you jump through multiple hoops including CV screenings, OAs and HVs, and a perfect CV won’t save you from a bad subsequent round. It is the opposite in Germany - where recruitment is extremely snobby, maybe less so as to which school you go to, but where you’ve previously interned. It is effectively unheard of anyone landing JPM/MS/GS with no other internships whilst doable in the UK (for UK applicants mostly).
Because of all of this, elite boutiques are most likely to place more emphasis on your uni, your internship and past experiences and not have HVs or OAs rather have everything handled by recruiters like Dartmouth Partners, who will be a completely different uphill battle. I’m at one of the German targets and I wouldn’t say we are particularly successful at placing in London, but it’s more to do with the intricacies of UK hiring than a fault of the uni etc. for example, I have been able to land one of JPM/MS/GS in London for next year but have been rejected from almost every other grad scheme/off cycle in London and I have a UK passport, speak 3 languages. Often being rejected in the early stages, whilst in Germany my CV has virtually never been rejected and always gets me interviews. The same can’t be said in the Uk despite having good internships, grades and schools. The UK uses a different approach so there is no correct formula unfortunately
I’d argue that a master’s is almost a necessity for continental European graduates targeting London roles. London offices would generally favour LSE, Warwick or Durham bachelor’s graduates over those from HSG, Bocconi, Mannheim, or WHU. It’s certainly not impossible, but European candidates often compensate with several relevant internships and a master’s from a top institution, whereas a UK undergraduate might be applying to spring weeks/summer internships with little more than a part-time barista job on their CV. As for Goethe, it’s strong for Frankfurt and DACH finance overall, but I wouldn’t place it in the same target category as WHU, Mannheim, or St. Gallen. Some Goethe graduates might even pursue a master’s at one of these institutions to improve their Frankfurt prospects. Ultimately, a master’s remains the gold standard in continental Europe and often provides the extra edge needed for London recruiting.
It completely can help. I’m not saying it can’t . I’m just trying to point out that there’s a way to play to game to maximise the chances as early on as possible. Playing both systems against each other to maximise chances and ultimately save money in the long run. I know several Göthe and Mannheim bachelor grads and FS/WHU who were able to land uk grad roles after their bachelors (more than the Durham and Warwick grads ik). They didn’t need a masters. No one needs a masters in the UK - it’s just a done thing within Europe. I’ve been there and am there - and quite literally the only advantage a masters gives for London is time and an extra shot at recruitment. Targets in the sense of the uni name help more in Germany than they do in London.
This isn’t me saying you shouldn’t do a masters at LSE/LBS or Oxford. It’s me saying that should never be the plan because it’s not necessary, but ofc if you find yourself at your bachelors with no decent offers then yes do it if you can afford it. But if you’re asking how I can end up at top EB or BB in London as a German student with a 1.6 Abi, then the answer right now isn’t go and do a bachelors at WHU/FS/Mannheim and then a masters at the LSE. Thats just simply wrong, and if anything puts you on a back foot because it puts your recruiting timeline at 4/5/6 years when it could be in 3.
apply for and go to the best name brand uni you can go to, be that Germany or the UK or wherever really. Apply for spring weeks in your first year the minute they open, then summers etc. Use trackr religiously, practice HVs and OAs and at the same time start building your German internship experience through the traditional route (audit/TS/small cap -> large cap and so on).
If everything fails then and only then is it time to revisit the question of a masters and what school. That isn’t a question for now when you could land a great job in London with a clear route to NY without any of that, but focussing on the masters before you’ve done a BSc or tried to recruit is just a distraction
Quos dolorem autem et voluptatem sit deserunt exercitationem repellat. Quasi doloribus non ex dicta fuga illum. Adipisci non cupiditate optio odio. Nam error magni laudantium praesentium ut est. Perferendis eos cum et facere et. Est autem velit rerum voluptatem nesciunt dolorem facilis.
Recusandae voluptas unde reiciendis perspiciatis nostrum dolor commodi. Dolorem quia et sed. Est alias nobis dicta distinctio. Sequi et id quod est voluptates tempore libero ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...