Why isn't Durham seen as a target school?
Hi all,
I am looking to study at Durham and I keep seeing mixed opinions on whether it is a "full target" for IB. Some people say it is more of a semi target but when I look at actual placement numbers on LinkedIn at top firms it seems to outperform Warwick at EBs in raw numbers and matches it per capita at most BBs (Not sure that matters but still).
For example:
Evercore: Durham ~20 placements Warwick ~20 UCL ~28.
Lazard: Durham ~28 UCL ~26 Warwick ~15.
Rothschild: Durham ~52 Cambridge ~59 UCL ~49 Warwick ~38.
At other elite boutiques Durham seems to place roughly on par with Warwick and UCL.
And when you look at entry standards Durham’s are not really lower than UCL or Warwick either. Their programs seem to be as rigorous as any other school really.
Durham Business School seems pretty locked in as well. On the offer holder day they mentioned they regularly bring in industry professionals to teach seminars or give talks. I know a few weeks before I attended they had someone from Barclays IB come in. They also told us to prep for spring weeks and how to prep IB technical questions with the 400 questions guide and the red book which was pretty wild for an offer holder day.
Also Durham Finance Society seems pretty active. They had a full day with BOA recently including a fireside chat and meal and something similar with JPMorgan too.
So with all that in mind why is Durham not seen as a "true target" Is it purely due to brand perception of it being a "budget Oxbridge?" Would be curious to hear thoughts from people in the industry or who have been through recruiting.
For me personally, I'd group LSE, Oxbridge & Imperial as "super targets" and then Warwick, UCL & Durham as targets.
Durham is generally considered a strong semi-target for investment banking recruitment in the UK, but it doesn't quite reach the "full target" status for several reasons, despite its solid placement numbers and active finance-related initiatives:
Perception and Historical Prestige: As you mentioned, Durham is sometimes seen as a "budget Oxbridge," which can impact its brand perception. While it has rigorous programs and strong entry standards, it doesn't carry the same historical prestige or global recognition as Oxbridge, LSE, or Imperial, which are often viewed as the "super targets."
Recruitment Focus: Target schools are typically those where investment banks focus their recruitment efforts most heavily. While Durham places well at elite boutiques (Evercore, Lazard, Rothschild), it doesn't consistently dominate across all bulge bracket banks (BBs) or in all regions. Schools like LSE, Oxbridge, and Imperial tend to have broader and deeper relationships with top firms, making them more consistent targets.
Regional and Network Effects: Being in London or closer to major financial hubs can be an advantage for schools like LSE, UCL, and Imperial. Durham's location in the North East of England may limit some networking opportunities compared to London-based universities, where students can more easily attend events, internships, and networking sessions.
Semi-Target Classification: Based on WSO insights, Durham is often grouped with other semi-targets like Bristol, Bath, and Nottingham. While it performs well regionally and in specific firms, it doesn't have the same universal appeal or access to all offices globally that full targets like Oxbridge or LSE enjoy.
Recruitment Numbers vs. Perception: While Durham's placement numbers at certain firms are impressive, recruitment isn't solely about raw numbers. The perception of a school's alumni network, the ease of access to recruiters, and the consistency of placements across all firms and regions also play a role. Durham may match or outperform Warwick/UCL in specific cases, but it doesn't have the same overall reputation as a "go-to" school for IB recruitment.
Durham's Strengths: Despite not being a "full target," Durham has a lot going for it:
In conclusion, Durham is a fantastic option for IB aspirants, especially if you leverage its resources, network effectively, and perform well academically. While it may not have the "super target" label, it offers plenty of opportunities to break into top firms, particularly for those who are proactive in their preparation and networking efforts.
Sources: Investment Banking University Recruiting Report – 7 Key Takeaways, Investment Banking University Recruiting Report – 7 Key Takeaways, UK Target Universities Discussion Thread, Comprehensive List of Target Schools for Investment Banking, https://www.wallstreetoasis.com/forum/investment-banking/investment-banking-in-the-uk-an-overview?customgpt=1
I would definitely put it on par with Warwick at least. Perhaps its because Durham is historically known for being stronger in humanities whereas Warwick and UCL known more for STEM? Also being further away from London isn't going to help.
Great little city though and active finance society as you say. If you take on the advice from events, network, and put the work in I'm sure you'll end up ok. Being a collegiate uni you also have more opportunities to show your interest by helping with running the budget for the JCR or events.
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