What is the difference between a semi target and a target

Based on the most helpful WSO content, the distinction between a target and a semi-target school can significantly impact your chances of breaking into competitive fields like Investment Banking (IB) or Equity Research. Here's the breakdown:

1. Target Schools (e.g., Warwick):

   • These schools have a strong reputation for finance and economics programs.
   • They are heavily recruited by top-tier investment banks and financial firms.
   • They often have dedicated alumni networks in finance, making networking and securing internships easier.
   • Attending a target school like Warwick for BSc Economics would likely provide more direct access to spring weeks, summer internships, and full-time roles in IB or Equity Research.

2. Semi-Target Schools (e.g., Bristol):

   • While still respected, semi-target schools may not have the same level of recruitment activity from top firms.
   • Breaking into IB or Equity Research from a semi-target like Bristol is possible but may require more effort in networking, cold emailing, and standing out in applications.
   • The alumni network in finance may be smaller compared to target schools, which could make it harder to leverage connections.

3. Gap Year Consideration:

   • If you are set on breaking into IB or Equity Research and believe you can secure admission to a target school like Warwick after a gap year, it could be worth considering.
   • However, taking a gap year comes with risks, such as not improving your application enough to secure a spot at Warwick or other target schools.
   • If you choose to stay at Bristol, you would need to be proactive in networking, securing internships early, and leveraging any available resources to maximize your chances.

In summary, the difference between a target and a semi-target school can be significant in terms of recruitment opportunities and alumni networks. If you are confident in your ability to gain admission to Warwick after a gap year, it could be a worthwhile move. However, excelling at Bristol and being proactive can still lead to success in IB or Equity Research.

Sources: 34 year old day trader to investment banker, Physics undergrad admitted to top b-school, 2nd Year Megafund Analyst -> 2-Year Sabbatical for 2nd Bachelors in UK (Oxbridge)?, LSE V Bristol uni, Bocconi vs. Warwick