Getting into IB from Ohio State
I know Fisher Futures is great and has nearly 100% placement but it is extremely difficult to get into. How hard is it outside of FF to get into IB? Is there any on campus recruiting at OSU? Is it even hard to get into MM bank from OSU?
You should look up students in the program and contact them for their opinions. I can tell you that it is not 100% placement, but I do know some OSU alumni in banking/PE
Are we talking about Ohio State or The Ohio State University? Major difference
bump
I know OSU has a good presence at Key Banc Capital Markets (Cleveland HQ). I would start networking there as I’m sure there are plenty of analysts/associates from OSU.
Ohio State has a strong pipeline to KeyBanc, Fifth Third, and Huntington (debt capital markets only I believe) without Fisher Futures. If you’re aiming for BBs, EBs, and other top MMs, you’re going to want to be in FF. Although it is possible to get an SA at one of the previously mentioned banks and try to trade up to a bigger bank
How's the pay going to be at those banks compared to BBs, EBs and top MMs?
Base salary at Key and Fifth Third should be very similar to BBs and MMs (approx. 85k), maybe slightly lower because Cleveland, Cincinnati, and Charlotte are much lower COL than New York or Chicago. Bonus will be lower, probably 25k-45k depending on performance bucket. I would expect significantly lower comp at Huntington. maybe 65k base and 10-15k bonus.
Dang that really sucks. What can you do, if anything, from a no name school like OSU that pays as much as a BB?
Also, If I were to become a career banker at one of these smaller shops such as keybanc or fifth third, would the comp when i'm at the MD/VP level be significantly lower than BB? I know I really shouldn't be looking that far into the future but just wondering.
It's not as bad as you think. When you adjust for cost of living, your take home pay will actually be pretty close when compared to BBs and most MMs. Only EBs and a few MMs pay bonuses that are 80% or more of your salary as an analyst, BBs tend to be around 40-60k.
Second of all, OSU is not a no-name school. Sure it's a low semi-target at best, but it's definitely not a complete non-target. There are a lot of resources on this site that will help you increase your chances of getting into FF, and you need to get into the mentality of being confident in your ability to get in. Even if you don't get into FF, if you keep your GPA high and have solid extra curriculars, you can get into top banks if you network well. I've seen threads that OCR is becoming slightly better, but I would reach out to current students to confirm that (I don't go to OSU).
Another piece of advice, there is a boutique bank in Columbus named Copper Run that consistently takes OSU sophomores as part-time interns during the school year and full-time for their sophomore summer. A lot of the students that intern there end up landing internships at top banks for their Junior summer. Keep your eye out for that opportunity.
In response to your question below, I have no clue what comp at the senior ranks looks like, but I would assume it is similar to other MMs and you can find many threads on here that pertain to senior comp at MMs.
The fact that you are on here already puts you ahead of many others. Be confident in your ability and don't allow yourself to believe that you are screwed because you go to OSU. It's actually a really solid school, but it doesn't fit the "prestigious" image most WSO users strive for. Develop an effective networking strategy (there are a growing number of OSU alum at top banks) and figure out exactly what you have to do in order to get into FF and you'll be just fine. But most importantly, have fun! OSU has a great social scene.
a few kids got Goldman IB, HL IB, HSBC IB, among others that all were not in futures this past year. OSU brand name is rapidly improving. SA 2020 placement was the best it has ever been within futures. you'll be fine if you put the work in. If in the worst case you don't get into FF you can still try to get something at Keybanc IB. they hire a ridiculous number of kids through OCR.
Would recommend looking at futures website and emailing some current members. All the resumes with contact info are posted online.
also btw futures placement is about 95%, not 100%. If you get in there are no guarantees you'll get an offer. Still a grind. Some kids go into the program thinking they will auto get an offer but this couldn't be further from the truth.
Voluptatem reprehenderit maxime est cupiditate asperiores est. Ea eum mollitia quo est. Ut hic ipsa rerum et voluptatem voluptatum facere autem.
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...