Do major Wall Street investment banks and large financial Titans care where you go to undergraduate school?

Elijah-F's picture
Rank: Chimp | 8

Asking because I've heard that a lot of those large, elite financial firms tend to have mostly NYU and Ivy grads. I'm just unsure if that is for undergrad or MBA/PhD/grad school.

Comments (6)

Jul 11, 2019

Elijah-F, bummer your thread hasn't had a response yet. Sometimes bots are smarter than humans anyways:

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Most Helpful
Jul 15, 2019

The one word answer is Yes.

Schools are a signaling event for intelligence, work ethic, wealth, connectnedness or maybe a combination of all of those things.

Top firms of any type want the best and the brightest and those candidates tend to be predominantly found at the best name schools. Now that's a generalization not a rule, obviously there are extremely talented individuals at a variety of different types of institutions, but for firms that are trying to maximize return on time, it is more likely that if you picked 5/50 students from Harvard vs 5/50 from an average state school, they will tend to be more accomplished.

Given the limited number of spots at all of these firms, they want to use the spots on the candidates with the highest liklihood of sucesss.

    • 2
Jul 17, 2019

It's true that IBs prefer Ivy kids but they'll always be spots for smart and hard-working students from non targets. Also, some students reject Ivies and Top 20 schools because they don't want to fork out $65k a year and instead go to their local state school and still make it in IB. Obviously BB, EB and MMs will prefer students from target schools, but there are still opportunities available to you as a non target through networking and being a top student.

    • 1
Aug 6, 2019

Depends.

  • Are you a new grad applying for IBD? Definitely.
  • Are you a seasoned industry veteran with 20 years of experience? Most likely, no.

You have to consider what the brand / prestige / reputation of the school means. It is a signal for quality at a time when it is difficult for a hiring company to discern the difference in quality between one undergrad recruit from another. However, after you acquire some experience and start to build a track record and reputation as a leader, that brand becomes less and less important.

Aug 23, 2019

OP do not despair.

If you are currently unsatisfied with your UG school brandname, the MBA resets your credentials. That is, in fact, partly what it's for, after all.

Been noticing many H/S MBAc on LinkedIn these past few weeks from an extremely wide range of UG school representation.

[M7] MBA helps normalize your overall education brand to industry standards.

Aug 23, 2019
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