Hey guys, I'm currently at a non-target double majoring in Econ and Finance in an undergrad business school. It's on the rise and quickly making moves into becoming a semi-target, sending quite a few recent grads into banking but the alumni base on Wall St. is very very young hence it's current status as a non-target. I've done as much networking as humanly possible in terms of calling those in finance across banking, buyside research associates, anyone from my school (probably 25-30 total alums in the high finance space). I have seriously considered transferring to a certain Ivy league school where I had HUGE family legacy and connections to that I ruled out during high school because of the added cost, but now the cost is considerably less given I'd be going for a shorter period of time. This leads me to ask:
In terms of banking, equity research, and eventually end game being I want to break into hedge funds as an analyst --> PM, what's the value of these degrees? Would trying to work my way into a top MSF program right after graduating at say Princeton, Vanderbilt, Wash U be valuable? Or perhaps an MA in Economics at an NYU, Michigan, or Duke also work? Or another viable option would be to try and work my way into banking out of undergrad, and then get my MBA at the business school at said Ivy league school I'm considering transferring to. Keep in mind, all these options are with the hypothetical that I stay at my current non-target.
Again, sorry for the rant. I'm just curious because my long term goal would to be working at an l/s shop or distressed fund, perhaps maybe a value or event-driven hedge fund. Do I transfer to the Ivy league school for my junior and senior years? Do I stay at my current school, try and work my way into Wall St, then try and get my MBA at said Ivy league school I'm considering transferring to? Do I stay and instead go for a masters in finance or economics? Any insight to advice for these options and experiences would be great, just trying to get a better understanding on the value of all these.
first you simply need to research a lot more. you are not telling the differences between Princeton and Vanderbilt/WashU MSFs, and you didn't mention MIT if you were looking at the best pre-experience finance degrees out there.
With that said, MSF/MFE are just a rebranding from your undergrad, and due to lack of experiences, you're basically competing with Undergrads from the ivys or from more suitable undergrad backgrounds.
Also there is a big difference for MS Econ degrees as they're often housed in Arts & Sciences with substantially less business/finance recruiting access. For example for Duke, NYU and Mich, you might not get much OCR unless you're in b-school
Also having your legacies at ivy is definitely an edge for MBA admissions, but also a nontarget usually gives a tough career path to be considered as competitive applicant.
Think through those and it may help with your next steps.
Great advice. I'm just curious because my current school is actually on the rise in terms of IB recruiting (2 or 3 BB's come every year) and there's somewhere around 30 alums in the industry. Hypothetically if I do make my way to this ivy for my MBA, doesn't that sort of negate any doubts one might have about where I attended undergrad. Couldn't this make me more competitive for post-MBA associate recruiting?
Most things you said cannot realize Until you make it into MBA, that's the point, and it's pretty far from where you are now. Big ties for an ivy school isn't something that you really can put on resumes, but you probably know how to leverage that networking I guess.
Also for some gold jobs after MBA, they would take considerations of your pre-MBA jobs as well.
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