What is the reputation of University of Miami on the street?
Current senior in highschool accepted into Herbert business school for finance. I am seriously looking at UM for finance but I am seeming to get mixed responses on its job placement in IB and AM on here. I know of the bermont-carlin and target canes programs but I am curious as to each's probability of obtaining internships and if so where. Also, what would it take to get a position at a one of these companies? For a student trying to place at a BB or elite boutique how is UM ?
Comments (12)
Like many schools of this tier, the opportunity is there but you have to work for it. There will be decent recruiting for Miami-area AM opportunities as well as things like PWM, private banking, real estate... there is next to no IB in FL so you are pounding the pavement trying to network for NYC. Citi loves UM and takes a ton of kids. Few banks are coming to you with IB recruiting on a silver platter, but if you network, keep your grades up, find some internships (not too hard in a finance-heavy city like Miami) and get involved at school you will have every opportunity to do IB.
The other half of this is what other schools you got into and if price is a factor - as UMiami is very expensive as well as an expensive city to live for 4 years
Thank you so much for this comment, very helpful information !
UM is good for Consulting
I went there a few years back, happy to provide some insight --
Bermont-Carlin and TC are fantastic, I'd say 90-95% of kids in BC program got summer internships at BB, EB, or MMs. It's definitely a self-selecting group, but the network is great. I got 2 BB superdays and 2 MM superdays just through the network. One popular route I see is: Fresh/soph year PWM part-time internship in Miami family office (there's tons), and then leverage that for junior year IB gig.
PS the grade inflation here is awesome. Take advantage of it. Half our business school consists of rich spoiled prep school kids who are trading crypto on their dad's yacht instead of attending class. That 3.9/4.0 on your resume is gonna look great.
Thank you, for your response. Do you know how selective the BC program is ? Also, what qualifies someone to be accepted ?
No problem, happy to help.
Program seems to get more and more competitive each year, but usually the profile I see is: 3.7+ GPA, does lots of networking, good presentation skills, and good extracurricular involvement. In that order. The acceptance rate is now sitting around ~30-40%, but if you tick the above boxes your odds are very high. Anything below a 3.5 gets you dinged.
Also, forgot to add earlier but -- unless you have rich parents, do not spend a full $80k/yr on this school. If your cost of attenance is <$30-40k/yr (UM is very generous with scholarships fyi), then this school is worth the ROI in my opinion. If it's ~$5-10k more than your in-state flagship (not Michigan/Berkeley/UVA but more so your OSUs and UFs and Colorados of the world), then it's still worth it IMO. But anything above that is a death wish. Decetly nice off-campus apartments here start at $2k/month btw, so keep that in mind. Best of luck with everything!
As it relates to UM, I've seen a decent amount of kids break into banking especially into Citi / BAML. However, IMO unless you get a full ride I would consider FIU if you're focused on staying in Miami.
I personally went to FIU and was able to break into a BB / have seen others recently get offers at EBs / BBs.
If you're considering all Florida schools, UF is probably the best to pipeline into IB. Their MSF in 4 years path usually gets looks from Evercore.
Sharp alumni in finance and entertaining basketball team.
From what I've gathered, it's about as competitive as your average state school (OSU, ASU, Indiana etc.) where opportunities are there but they require some work.
Speaking personally from my AM group, and others I've met at the firm I interned with, pretty much every UM kid I saw was a rich kid - probably because it's a rich kid school. Most of them where able to use a lot of family leverage to get really good opportunities for their resumes or easy network footing. Just be weary that the numbers may fool you in that sense.
As long as you work for it the opportunities will be there at UM.
Who's that guy who moved from Miami (went to college/first job there) to SF? Maybe he can input
UM senior here, in the last two years we placed in IB at the following firms:
Centerview
Goldman Sachs
DB 2x
JPM
Evernote 2x
BofA 3x
Piper Sandler
Guggenheim
William Blair
CS
RJ 3x
WF
Barclays
BNP 2x
JMP 2x
Solomon 2x
FT Partners 3x
Citi
Cambridge Wilkerson
Nomura
Lincoln International
Cantor Fitzgerald
In my own experience the alumni is very eager to help out students get placed and prep. Students at the school are driven and help each other out as well. The school is improved a lot over the last few years and it's very easy to place in IB.
Lots of placement in S&T, WM, and AM as well at top firms.
UM is also a great time. Good weather. Hot girls. Insane culture and top clubs in world. An alumni once told me before I came to UM that you can party for four years having the time of your life and place in IB after easily, and I totally agree. UM is a move.
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