Australian University Prospects for IB

Hi everyone,

I’m a high school graduate who graduated in 2022 achieving an IB score of 45 (99.95 ATAR). I live in Brisbane and I would love to hear your advice on university. I have two main offers (1) bachelor of advanced finance and economics at UQ and (2) bachelor of commerce at Melbourne (chancellor’s scholarship). 
I am looking to go into investment banking at this stage and I was wondering whether moving interstate to Melbourne will be beneficial.

I have heard that UMelb is a much more established feeder into IB than UQ, however I’ve also heard positive comments on BAFE.

So irrespective costs and moving, which course would be more beneficial?

Thanks in advance.

 
Most Helpful

Hey mate, firstly congrats on the 99.95 ATAR!

Either option will be great but I would really recommend BAFE. This year specifically has placed extremely well in IB (like previous years) w/ placements at almost every top firm. 

Why BAFE is good:

- firstly it is a course designed for IB. Sydney and Melb recruiters are definitely aware of it and actively recruit from BAFE. Any first round interviews for Syd and Melb firms are over zoom / teams and they will pay for your flights for final round interviews in the office so you are at no disadvantage applying from UQ

- small cohort where graduates are really receptive to networking with current students 

- with a bit of work maintaining a ~7 GPA is very realistic (2-3 courses are genuinely challenging, but rest are much easier than the tough high school subjects)

- multiple firms (Big 4 and QIC for example) offer placements for BAFE students, and I have heard of BAFE teachers getting some students internships in Brisbane to help build up their resume

 

Congratulations on your hardwork paying off!

Having met a couple of those who are working/worked for the bulge bracket IB teams from UQ, it is definitely feasible if you put in the work.

However, I'd still choose unimelb. I'd say there are more opportunities in the realm of finance (boutique IB internships, PE and much more) and you will build a support network there (friends and professional) before potentially moving over. If you have time, I'd specifically reach out to clubs like Finance Students' Association or FMAA Brisbane/Melbourne via email/Messenger to understand the opportunities they provide for members/committee as I'd guess they are the nexus for recruiting.

If money is an issue, I'd stay in Brisbane to spend less time working (unless it's more career-related) and focus on keeping your marks up/getting involved with finance-related extracurriculars.

Good luck!

 

Very impressive, well done. Personally wouldn’t worry too much about BAFE vs UniMelb placement - both are feeders into IB and you’re evidently smart, hardworking and motivated. Keep it up and you’ll be fine. I’ve found that knowing what you want to do early is the most important factor.

I think it may be important to consider the following personal factors:

  • are you ready to / do you want to live interstate without your immediate family and friends? You’ll likely be leaving in ~3/4 years so maybe this time with family is valuable.
  • do you want to work in Melbourne / live Melbourne after you graduate? If so, studying there would make sense but also not required.
  • do you want to keep your options open to study law / med etc? If at UniMelb it seems the Chancellor’s Scholarship provides this?

Other considerations could be:

  • availability of internships and relevant university societies - UniMelb likely wins but I’m not familiar with the scenes over there.
  • cohort sizes - BAFE is getting larger I believe, but UniMelb commerce would be still be bigger I think. Like mentioned, BAFE has a tight network benefit and alumni everywhere you might wanna work in finance (potentially Sydney weighted?).
  • relevance of course - BAFE is highly targeted to finance / IB etc while I assume UniMelb is more standard.

Anecdotally, I stayed home for uni and while opportunity was harder to come by, I don’t think I would trade away time with family at this stage. I think this is especially true for you where the quality of BAFE and unimelb education / opportunity is narrower.

At the end of the day as long as you’re at one of the top GO8 and do the following I have no doubt you’ll land a summer when they roll around:

  • maintain strong grades (+85 wam is ideal for commerce/BAFE).
  • Be involved in extracurricular - FMAA, 180DC, other finance/business/trading clubs etc (exec positions are great).
  • Try and get some relevant finance/business specific experience.
  • Build relationships with a handful of people who are in the position you want to be, and can help you learn about the industry and what you need to work on.
  • Find a group of like-minded individuals and work together to get where you all want to go.

Keep it up, you’re in the best position. There are lots of good thoughts by others on this thread to weigh up. Neither choice you’ll regret, but I’d really make sure to keep the personal considerations front of mind.

Disclaimer: I am still a university student and above is just my thoughts based on the bits and pieces I’ve heard. If anyone disagrees please feel free to let me know

 
musitall

Melbourne is best. Better question, 200 something kids get 45s on IB a year. Why not go to US?

Thank you for your input.

Originally that was going to be my plan. However, my family decided that being half a world away with lack of support network and the international student financial position means that going to US for uni would be infeasible.

 

45 IB you should be able to get a full-ride to a phenomenal school - perhaps not Ivy (if they wouldn't give you tremendous financial aid despite them promising they don't give academic scholarships) but definitely Stanford/MIT/Chicago/the like.

I understand the support network thing. You must be close to your family. Also, sounds like the decision has been made wrt to uni in Aus. From what I've seen in Canada/US, Melb represents better than any other. I think the head honcho (or close to it) went to Melb.

 

Thank you all for your perspectives.

I haven’t finalised my decision as of yet, however, being less knowledgeable about the actual UMelb road into IB, I would also like to ask what’s the usual degree structure that is best. The three main options I’ve seen have been BComm, BComm (honours) and BComm with concurrent diploma in mathematical sciences (all majoring in finance and economics).

Would the mathematics diploma be worth it or is it better to stick with one of the other two options? I ask because I would be very interested in studying some applied maths and this option seems very appealing to me but obviously I’m not going to consider it if it doesn’t benefit where I want to end up in 3 to 4 years.


 

 

not sure about unimelb, but some banks have early feeders / pathways for STEM students into IB. so a commerce / maths degree could be worthwhile so you fall under STEM too and get more opportunities.

degree doesnt matter too much in Aus, just get work experience to go with good marks + some cocurriculars like uni societies and you will be getting interviews

 

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