How do I get into Investment Banking / Trading with Computer Science undergraduate degree? Also help with MSc Finance...
Hi,
I've graduated in Computer Science from a UK university with first class honours and trying to find a job in Finance (Investment Banking) sector, I've applied to most investment banks for their IB / Trading positions and havn't got anywhere. (The psychometric tests results were good, that's out of question).
I do realize that my undergraduate degree is unrelated to the field I'm applying for, but from what I know is that people still get into the finance sector with degrees from other disciplines.
I really want to get into Finance (mainly banks) sector as a result I would like to know if pursuing a MSc in Finance or Finance and Investment or Financial Risk Management will increase my chances.
That being said, I would obviously want to apply to some of the top schools like LSE, Said, WBS, etc... but my financial situation doesn't allow me to. After looking into various university's and considering my budget. These are the following courses and universities I've found. (I've only chosen Russell Group universities as most job posts outside Investment Banks schemes specifically state Russell Group)....
So here is the list of courses and options....
MSc Finance & Investment @ Bristol Uni (Currently rated as top 10 Uni's in UK) -- £13,000
MSc Finance @ York University (not in the top 10) -- @ £7,400
MSc Finance and Investment @ Leeds University -- @ £9,000
MSc Financial Risk Management @ Leeds University @ £9,000
MSc Finance and Investment @ Durham --- £10,450
NOTE: All of these uni's are part of Russel Group. Bristol and Durham are among the top 10.
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Guys please help me out here, by answering the questions;
1) Will a masters help me? If yes, which uni is worth going for? (Reputation wise)
2) Is there any other way to get into IB/Trading.
Opinion matters!
Thanks
you kan start by converting the monies into USD. this is amerika; speak amerikan.
What about LBS and LSE or ICL or UCL and the like? Also how about Oxford Said and Cambridge Judge?
That being said, I would obviously want to apply to some of the top schools like LSE, Said, WBS, etc... but my financial situation doesn't allow me to.
"
To the OP - Networking is what you need to do, a non-target msc will not add any prestige to your application, apart from resetting your application cycle, so imo it doesnt really matter where you go. Also, check scholarships, I know LSE does some. If you have a UK/EU passport - that will make a huge difference.
Tea and crumpets with British MDs
An MSc won't make much of a difference, unless it's at a place like LSE or Oxbridge.
Consider doing something else, e.g. Accountancy or Consulting (the latter is probably your best shot), do an MBA and try and get in as an Associate.
Thanks for the help! Much appreciated
I've definately taken your advice into consideration and am now looking at target schools and their scholarships... About accounting and consulting, I've definitely considered the consulting route and applied to various companies & firms. Fingers crossed!
Also, is CFA worth the chase? Assuming you've passed level 1, and are going onto L2 then L3. Is it something that bank's want?
For someone who doesn't have a finance background, will CFA help strengthen and multiply your chances?
Rest assured that Computer Science is very relevant, especially in Trading.
MSc's are good, but a large proportion of what you use almost never be used (unless you're in more quantitative roles). The main skill many University graduate seem to forget about is interpersonal and communication. No one will hire you unless you're fun to work with. Bankers work long hours (even in non-IB desks, e.g. PB) so you want to make sure you are working with people who are fun, even if they're juniors. Focus on travelling and developing hobbies. They'll make more of an impact once you get to interview stage.
Is the CFA worth it? Depends really. The CFA is not a qualification that should be taken lightly. It requires a lot of hard work and dedication. I would only do it if you know you are interested in it. For job prospects, it'll definitely show an interest in Finance, especially for someone from a non-Business/Finance/Economics background. Most target Universities, e.g. Imperial and LSE will have MSc's in Finance that are structured around the CFA syllabus.
CompBanker has a post about this. He is a Computer Science major, and he got a job in IBD and now PE without a graduate degree.
A master's would probably help you to reposition you for grad recruiting. If you can combine Finance & CS you should be able to get at least interviews with BBs for S&T.
If you are financially restrained, you should start looking at programs in continental Europe. These have lower costs and the same placement in London as the big UK Universities (LSE/Oxbridge). In terms of money, St. Gallen, SSE, Rotterdam are super cheap in comparison and if you can get a good GMAT you can always apply for financial aid or a merit scholarship and apply to HEC, Bocconi etc.
Basically no finance knowledge. Computer Science major. Possible to get an internship? (Originally Posted: 03/11/2013)
So it seems like most people on here are finance or economics major or at least have minored in it. I'm a computer science student wanting to get into finance, or at least try out an internship to explore the field.
Is it possible for me to get an analyst type internship at a finance firm with almost zero finance knowledge? I have started reading up on some finance related stuff but I still know very little, basically close to zero, compared to finance/economics major or minors.
I'm worried about interviews especially.
Thanks
I have a very hard time believing you want to get into finance when you don't know the basics, which are easy to learn on your own. Do some research. Read this site. Read the WSJ. If you are of reasonable intelligence you should be able to come back in a month or so and have a decent grasp of the industry and different jobs out there.
As it stands right now you should be worried about the interviews, which I highly doubt you would get, change that.
A good way to get a birds eye view of the industry is to read the Vault guide for investment banking. The one I read came out several years ago, and might be a bit antiquated at this point, but it still explained the process of what major banks actually do.
Finally, make sure you are thinking about the industry for the right reasons.
Thanks for the advice. I think you're definitely right that I need to read up and learn further about the field, and I will do that. However I'm wondering how realistic it is for me, provided that I read up and realize it is something I do want to explore, to try targeting internships for this summer even when I won't have comparable knowledge that finance majors who have studied the field for 2-3 years? I would like to audit a few finance courses in school from upcoming school year but I definitely won't have enough time to learn that much material before the summer/interviews.
So how far in depth and difficulty of finance do they go into during these interviews generally? With computer science interviews, they tend to be very technical and it's almost like an oral exam requiring you to code in front of them. I'm guessing the interviews wouldn't be to this extent but I would like to know how much.
I'm a double major in mathematics and physics. Not majoring in finance is NO excuse for not being on par with the finance majors in certain areas.
That you won't have enough time is bullshit. You can and will make the time to learn. Especially with your degree, because if we're being honest CompSci isn't a very intense course. You CAN learn it, you can get up earlier and study it for a couple of hours each morning. You can pull it off.
But that you've only just considered finance, at such a late stage in your course of study, is a tad troublesome. Many people know from the start what they want to go into.
compsci isn't intense? haven't heard that before. agree with everything else though - OP you can definitely squeeze in enough time to learn what you need to for interviews
Surprised no one asked you to become a programmer for Honeywell at Arizona yet.
Computer Science to Banking and Trading (Originally Posted: 05/15/2013)
Hey guys, from your experience, how easy do you feel it is to move from a tech job at a bank to a business analyst job or a trading position. Also, how does a software engineering internship at Google look to finance related jobs (banking, trading), versus a tech internship at a bank.
Prop trading shop is an opportunity, but will not always be easy. You only have to clearly state why you've chosen a tech job instead of a trading job.
Most guys in tech roles rarely move into the business side of a bank. Try to find a way to leverage the skills that you have (programming, tech experience) into a role you will find enjoyable.
Computer Science Undergrad Resume. No finance experience (Originally Posted: 03/05/2013)
I applied for an internship position (tech/finance role) at a top company, and they said that although my credentials are impressive, they think that there isn't a close enough match between my qualifications and their current requirements.
I'm not sure why. I know I have no finance experience, but they weren't looking for a business major but a CS/engineering major.
I'd really like to land an internship this summer in finance. This is the only place I've applied so far so I'd like to polish it up before I send my resume out to other places.
Please take a look and let me know what you think I can improve upon (both the resume itself and what I should do in the future to add in my resume) and be 100% honest, I can take it even if it's brutal. Here's my resume: (please get rid of spaces) http://vur. ca/resume/resume.pdf
Thanks
Suggested Changes:
(1) Shorten to 1 page (2) Eliminate/Edit the technical qualifications section. From your post I am not sure exactly what position you are trying to get, but you need to show the skills that THEY find important/necessary/useful for the job. Your's seems just like you are saying what you are good at with no thought as to their needs. You need to tailor it (like I said, could be wrong here since I'm not sure what position you are going for. (3) For each work experience, no more than 2 bullets -- it will never get read. Also, don't use as many adjectives describing what you did -- just make it more I did X and it resulted in Y (or even just I did X). Again, here tailor your previous experience to show how it will be beneficial in this new position (4) remove hyperlinks. Delete the comment about for more information see this site (no one is going to bother). (5) Reduce projects -- mention them but no need to dedicate so much space to it...this can be something of you speak about in the interview if you think it is critical. (4) Move Education Section to top, followed by work experience, followed by everything else in whatever order you prefer.
Hope this helps -- good luck.
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