Coming from a target school, with a 3.7+ gpa, and strong technical knowledge, how hard is it to really break into banking. People are always stressing me out saying how hard it is, and how barely anyone that wants it gets it - but is it really that bad?
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Its not very hard. Most of this forum is nontargets though
Can you give me any insight into your experience?
For recruiting? Nothing special to it tbh. Freshman year I learned about the finance industry, Sophomore year I took some fnce/acct courses. Second semester I went to firm info sessions and called some alum, used technical guides to review material before interviews, and landed EB offers in the spring. Before WSO kids ask, im a white male. Everyone who was serious about recruiting got a good job tbh, but definitely know some people who fucked around too much or were really weird
Yeah, I've been wondering the same thing as a current first year in college. I want to think it's entirely possible coming from a target school with a good gpa, technicals, etc. However, we know that IB is a super high paying job with excellent exit opps/optionality with no additional years of schooling required. There are thousands upon thousands from target schools (not even including the nontargets) aiming for a few hundred roles. Even if you subtract people who end up at tech/MBB, surely not everyone "makes it".
Didn't know there were so many target schools
I mean, yeah. There are about 2000 in a graduating class at mine. About a third of them are probably interested in finance, and a fraction of that in IB. So that's maybe 200-400 students. If we say all targets are roughly the same size and assume 10 target schools, that's already 2000-4000 students. I'm sure there are more than 10 target schools with higher student populations than mine. But the real question is, how prepared are these kids? Maybe a large percentage don't know anything about networking, WSO, technicals, etc. so that might make it less competitive. Honestly, I'm only a first year so this is all theoretical. OP could maybe get a better idea from someone who's gone through it.
Your looking at approximately 4000 IB oriented kids at the top 15-20 target schools, being somewhat conservative. If you look at all the EB, BB, and known MMs you probably have circa 1000 spots in NYC alone, and probably about 1000 spots in all the regional offices combined. You also have a decent chunk of internationals at the these target schools who will have a harder time and will also seek spots in HK so if your a domestic student with a > 3.5 GPA, one or two relevant internships, decent networking, and is not an embarrassment in public you will have a very good shot. The odds are definitely in your favor.
I was concerned with this same thing when I was a freshman so I just wanted to add some insight.
It's as hard as you want it to be... because, that's what she said !
If there's a will there's a way. You have a 3.7 and are from a target - what are you worried about? Yes it's highly competitive but the odds are already in your favor. Even if you do not break in, there are many other routes to get there. You can do a masters program at a core target in NA or Europe. You can apply to regional offices or in HK/Singapore/Dubai then transfer back if you want to. Even if all of that doesn't work. You can still do an MBA down the line and apply for associate roles.
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