Non-targets with Good Placement List

Wanted to make a thread to lay out some of the non-targets that send a lot of kids to the street - usually this is driven by having 1-2 really solid student investment / IB prep clubs - IU Kelley seems to be the gold standard for this, to where many banks and buyside opps recruit there specifically from the IBW and for some it's become a semi-target.

In no particular order, the ones that come to mind are:

IU Kelley (IBW)

Penn State (Nittany Lion Fund)

FIU (Phoenician Investment Fund)

UGA (SMIF)

Alabama (CIMG)

ASU (IBIS / ASU Enterprise Partners)

Florida (a couple good clubs iirc)

UW Madison (unsure on their club but they send a ton to MKE / Chicago IB)

Illinois Urbana-Champaign (higher ranked school academically than the rest but still "non-target")

Georgia Tech (same as above; GTSF is their fund)

Carnegie Mellon (see above)

Boston College 

Fordham

Any I'm leaving out? 

23 Comments
 

Based on the most helpful WSO content, here's a solid list of non-target schools with strong placement into investment banking, often driven by standout student investment or IB prep clubs:

  1. Indiana University Kelley School of Business (IBW) - Known as the gold standard for non-targets, with many banks and buyside opportunities recruiting specifically from the Investment Banking Workshop (IBW).
  2. Penn State (Nittany Lion Fund) - A standout program that provides hands-on investment experience.
  3. Florida International University (Phoenician Investment Fund) - A strong program for IB prep.
  4. University of Georgia (SMIF) - The Student Managed Investment Fund is a key driver for placements.
  5. University of Alabama (CIMG) - The Capstone Investment Management Group is a notable club.
  6. Arizona State University (IBIS / ASU Enterprise Partners) - Known for its IB prep and networking opportunities.
  7. University of Florida - Hosts a couple of strong investment clubs.
  8. University of Wisconsin-Madison - Sends many students to Milwaukee and Chicago IB roles.
  9. University of Illinois Urbana-Champaign - Academically strong and places well despite being a non-target.
  10. Georgia Tech (GTSF) - The Georgia Tech Student Foundation is a key resource for students.
  11. Carnegie Mellon University - Academically prestigious but still considered non-target for IB.
  12. Boston College - Strong alumni network and placement.
  13. Fordham University - Known for its proximity to Wall Street and solid placement.

If there are others you think should be added, feel free to share!

Sources: Comprehensive List of Target Schools for Investment Banking, What are the Strongest Non-Target Schools for Undergrad Recruitment?, A bunch of target / semi - target schools have decided to prevent banks from recruiting on campus before the fall, The Comprehensive List of Transfer Friendly Schools For Investment Banking, UVA Undergrad for IB Recruiting

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Funniest

Something tells me you may be VERY familiar with said the mentioned "recent sharp sophomore SA at BofA from FIU Phoenician Investment Fund"

Sneaking suspicion you both might share a mirror.

 

Cumque non temporibus consectetur non enim quas aspernatur vitae. Delectus optio perspiciatis expedita possimus et. Quod et cumque iste.

Eos hic ea laborum laboriosam aut saepe. Ea suscipit temporibus qui ut iste. Quo rerum nulla est reiciendis neque.

 

Saepe maiores eligendi velit in et. Aut expedita quo aut.

Sequi velit rerum quidem rerum occaecati nihil quibusdam suscipit. Qui magni odit et et omnis omnis. Et non accusamus molestiae consequuntur commodi quo ipsam sit. Rerum rerum optio omnis in unde. Voluptatibus sit sed saepe aut unde quia. Dolorem recusandae voluptatem suscipit et saepe reprehenderit ad alias.

Soluta eligendi est illum est rem iusto cupiditate. Omnis autem in pariatur et ratione sed. Ut voluptas consectetur commodi totam consectetur. Sed fugiat qui blanditiis.

Eos est voluptas rerum ea aut quasi. Numquam et alias sit placeat consequatur sint. Ullam esse assumenda iusto ex est voluptas. Quia eaque amet rerum ad nihil voluptatum nostrum.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 02 98.8%
  • Evercore 01 98.3%
  • BMO Capital Markets 12 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • Morgan Stanley 05 98.3%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (44) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (78) $151
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
DrApeman's picture
DrApeman
98.9
8
dosk17's picture
dosk17
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”