Houston/Dallas IBD
Who competes for Houston/Dallas IB gigs? Ivys or mainly Texas kids? (UT, Rice, A&M)
I'm saying this as a Class of 2015 Longhorn.
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You'll be competing with all of the above, but being UT you'll have a decent shot. You in the business school?
No. I had no idea what McCombs was until after I got accepted into the LA college/after I started to take an interest in finance. I'll be internally transferring (hopefully) next year.
With the exception of some boutiques, a tiny baml generalist office, and a JPM group...there really isn't much IB in Dallas.
At the undergrad level you will see everyone in Texas and maybe a few ivy's who have texas ties. UT is your best bet though as everyone comes to campus, both for Houston and New York. MBA superweek overlapped the undergrads so I got to see the roster of on-campus recruiters for the youngsters like yourself...prettay prettay strong.
Wow no. first off check out the number of boutiques, and also many MM have offices here, including some BB which have cap market groups in dallas: //www.wallstreetoasis.com/forums/wall-street-mentors-list-of-200-investme…
Also as was said earlier you are going to see a lot more of SMU in Dallas, they have a very strong presence in the buyside in dallas. Hell the crescent is pretty much in their back yard.
Cartwright, you have another year left dont you?
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Pretty much UT. A few Rice, some top kids from SMU and A&M, and then Ivy league kids from Texas or with some connection.
Dallas doesn't have very many energy groups. Houston houses the bulk given that most oil giants are headquartered in Houston. The majority of analyst recruiting would be Rice and Mccombs, with some exceptions at other schools like A&M, SMU, and others not in Texas based on bankers' alumni connections, preferences, or kids from top schools who grew up in Texas, etc.
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A bunch of kids come from UT and Rice. All the banks go to UT. Few A&M kids make it in, a few form TCU, and several have been breaking in from TCU the past few years. Mainly the only ivy's you'll see will be originally from Houston or have a connection in Houston. Honestly, though, speaking relatively, coming from an A&M/SMU/TCU can easily be an advantage because you have to work harder to get in and bankers in Houston respect that.
I have seen more undergrads from SMU and Baylor than I have A&M or Rice at second rounds and superdays. The people I have met from UT usually seem to have such a false sense of security that the people from SMU, Baylor, and TCU outwork them in preparing for technicals. I'm sure this isn't true in every case, but it has been in the interviews I've been involved with.
The reason you don't see a lot of kids from Rice is they don't have as many finance kids. They are mostly engineers and premeds. That said, they tend to go "easier" in the interviews on Rice candidates since they know they are not bred for finance like the UT guys, and they know the Rice guys have the brains to learn quickly (not that the UT ones don't).
If you go to UT, you will be competing with hundreds of other kids who all want to go into finance, so it's intense. The finance program is strong, so you will get asked more technical questions in your interviews.
If you go to Rice, you will be competing against very few people compared to UT, plus you are in Houston so you are at an advantage already. During the superdays, though, there are probably 9 UT guys for every 1 or 2 Rice guys, but that is more due to a lack of qualified Rice applicants. Like someone else mentioned, you will also see an occasional candidate from California or the Northeast who has family ties back in Houston, or some connections with someone in the group.
At the end of the day you will be a Longhorn, so you want to work your ass off to stand out from the crowd. That is your main challenge.
Cartwright (or any other current UT students) what is the deal w/ BHP? There is obviously better networking opportunities, but why is it so well regarded? To me it kind of seems like a very general, dumb degree.
and thanks for the replies bros
It is well regarded because it is competitive to get into and employers respect it. There is nothing groundbreaking or special about it. One big advantage is GPA inflation. BHP has different classes for some of the requirements and they will be primarily A's. Financial Analyst Program (FAP) is also very well regarded.
I'm a 3rd year BHP student and can give a quick insight for anyone in the future who wants to know/searches for BHP. Its a program that takes 100 kids a year, has a 3.5 GPA requirement (the reason for the GPA inflation), and trys to lecture more on a case study basis. The classes are quicker paced and have professors that are often MBA profs as well(they challenge you). While it is a good starting point for conversations in interviews, it is not the magical ticket that some people make it out to be. I am very proud of being BHP, but McCombs is a great school in general with a lot of talent so interviewing is competitive. That being said, there is a lot of info on the McCombs website detailing what the program is about.
Some side notes: FAP is also a great program that opens applications for 3rd year students. BHP is also a very Greek and socially minded major. Roughly half of my ~100 student class is Greek. Everyone knows everyone and it turns one fo the 5 biggest school in the country into a small program (I think the best part). Hope this helps.
I am an MBA student, as I thought was clear. So i have no idea what that even is. The undergrad population in the b-school makes me think I'm in the Beijing airport.
Before you say that go check out Carnegie Mellon...
Or Cal.. where you are actually a minority if you are white.
Try walking around the Rice campus... feels like Tiananmen Square.
Also, Dallas is an amazing city to be in if you want to work in Law... but finance, not so much.
Hah true story. It's half Tiananmen Square, and half Hogwarts.
UT and Rice still dominate in Houston but only the top kids from TCU actually get interviews so they usually tend to prepare there ass off. Any TCU alum PM me, curious if i know anyone.
What do you think you're going to do w/ your UT MBA, Cartwright?
It's mostly UT kids, with SMU, Rice, and A&M (lots in trading) making up a majority of the rest, in that order. I personally don't know anyone from TCU that works in energy IB, but I'm sure there are some. Tulane also has some placement due to their energy finance programs, and then you get the random Ivies/other Top 50 schools where there are alumni, as was said earlier.
There are a couple of kids from Tulane floating around Houston/Dallas as well.
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TCU is just very small but has great networking opportunities, I myself was not in the Educational invesment Fund (interned at a real HF instead) but if you get accepted into that thn you have a really good chance of landing somewhere solid. No matter what i would like to believe, TCU still places far behind UT in IB.
Keep in mind, most folks want to be in NY, with regional offices (SF/LA/Houston/Chicago) next, Dallas is more of a satellite office for most.
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