I will be starting at Emory University next semester and was wondering what my chances are for landing an IB gig in Charlotte? I know that the majority of people on these boards really want to do BB in NYC but please indulge me for a few minutes. Is the recruiting for MM/Botiques in Charlotte just as competitive as it is for IB in NYC or is it more of a 'sure thing' if you are coming out with a 3.6+ at Emory.
Thanks for your time
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It is not a sure thing in any way. It is extremely competitive in all major cities whether that is Chicago, LA, San Fran, Charlotte, Houston, etc. Just because a lot of people on the board are vocal about going to NYC doesn't mean there aren't a ton of people looking for a different lifestyle in a place like Charlotte.
Couple that with the fact that there are very few spots at the large banks in Charlotte and it is a very competitive process. There are places like McColl Partners and Edgeview but these places will not have large analyst classes. You will be competing with very bright kids from UVA, UNC, and good schools like Wake Forest, Vanderbilt and others.
As far as your chances that is completely up to you. Have a strong GPA, get some work experience in finance, try to get leadership positions on campus or in a fraternity, and network, network, network.
Good luck
If you factor in the lower number of positions that are available in Charlotte, it ends up being just as competitive as NYC. In short, there is no easy way in.
I think I should have been more clear, I was not trying to imply that I think Charlotte is easier or that I want the easier way in but I would actually prefer to have a more laid back lifestyle than in NYC. I have lived in NYC for most of my life and am quite tired of the subway and not having a car. I do not really feel like giving 2k per month to a slum lord. The nearby beaches really suck (except the Hamptons) as well. So for me its more of a lifestyle decision. Just that some people on these forums have bashed Charlotte and it made it seem like it was less competitive for some reason. Is there a strong presence from Emory in Charlotte or are the go-to schools UNC/UVA for recruiters?
Emory is known as a competitive school in the South. They even have some finance alumni network thing set up for people working in banking / PE / VC (an Emory alumnus invited me once, but ive long since lost the link). Enjoy your time there, do well in class, and I'm sure you'll have a shot alongside the UVA / UNC kids.
I don't know why many people on here don't consider UNC to be a target school. Plenty of UNC alumni have some incredible connections (Robertson, Paulson, GS, etc). I know some BB does on campus recruiting there for IB (albeit they only recruit 2-3).
As far as Charlotte, someone on here posted that they're making the same amount living in Charlotte for BoA that they would be making if they lived in NYC. I'll tell you this: $120,000/year (even if that's gross) can lead a young 20 something to have a baller lifestyle if you spend wisely.
How is the culture, lifestyle, and hours in Charlotte?
I have some friends that work in IB, at different levels, in Charlotte and I would say the aforementioned aspects are marginally better. You aren't going to be putting in 40 hours weeks just because you're in Charlotte, you will work just as hard (same tasks, similar hours) and you will make just as much as your NYC counterparts...plus less taxes and lower cost of living...so there is a benefit, but many of the people I know in BBs in Charlotte work "NYC" hours. I think Charlotte is a great city but it isn't NYC, not by a mile...so keep that in perspective.
As far as Emory, they are comptetive in the south, maybe more so in Atlanta than in Charlotte, so at boutiques and MM as opposed to BBs, but (coincidentally perhaps the person I know best working at a BB in Charlotte graduated from Emory. Additionally, I know some others that work at Jefferies and Citi and a few other places in NYC...which could imply credibility to the school.
I will say the benefit you have coming out of Emory as opposed to UVA or Duke or UNC is your class will likely be much smaller, so fewer people to network with but they will be far more likely to help the 1 or 2 kids that reach out to them than a person who has a half dozen or more.
Regards
Another 18 year old already worried about his chances at making it into banking. Enjoy your freshman and sophomore years. I'm in Atlanta, Emory/UNC/UVA/Duke all do well in the Southeast including Charlotte.
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