How is NYC IB recruiting at UNC Chapel Hill?

Currently a high school senior and will likely go to UNC for financial reasons. How is NYC IB recruiting there? I know UNC is an absolute powerhouse for Charlotte, but I can't find much recent information about placement in NYC. In addition, is OCR targeted mostly toward the Kenan-Flagler Undergraduate Business Program? Would majoring in something other than business put me at a disadvantage?

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  • Prospect in IB - Gen
Nov 8, 2019

As a current UNC student, I can speak to this.

Short Version: Work hard and network and you'll have a a great shot

I will define a target as to that the bank takes several kids reliably for IB each year.

GS: Target (NYC) Paul Parker comes each year and (from rumors) hand picks a few people in addition to the normal hires.
MS: Target (NYC)
JPM: Target (NYC)

BAML: Target (CLT) Semi (NYC)
CS: LowSemi (NYC)
DB: Non Target in the past but likely a semi in the next few years (NYC)
Citi: Semi in the past, Non Target now (NYC)
Barclays: Non Target
UBS: Not actually sure about this one. But I think it's Target/Semi Target (NYC)

Wells Fargo: Target (CLT). Most Wells positions are in Charlotte period.

Non Target for all EBs

We actually get some MM PE.

That being said, networking is a HUGE plus here because most banks don't hold OCR or on campus resume drops. Those are done through handshake typically. As such, most IB hopefuls here don't actually meet a banker and therefore networking will give you a huge boost.The only bank I remember doing an on campus interview for was MS. Every BB has alumni so you could network in

NYC IB positions aren't super competitive here for two reasons. The first being there aren't that may IB hopefuls here to begin with. And the second being, many of those who are, prefer Charlotte since they are in state. That being said, NYC is where the plurality end up

On a tangent, I can talk a little about consulting too, but I don't know much. We place well in Big 4 but not well in MBB. Consulting is far more competitive here than IB. A significantly higher proportion of my undergrad class was interested in consulting than IB. So that level of interest combined with fewer spots than IB (BB vs MBB) makes consulting far harder.

Hope this helped!

Update: Sorry I completely forgot about the Kenan-Flagler vs Economics issue. Yeah you're at a disadvantage if you're not in the business school. This is because if you are in econ, people will assume you didn't get into business. Econ is also notoriously hard here. Business on the other hand pretty much hands out Bs. Getting an A is a somewhat difficult. I think its like 30% cut off for an A. The B School career services are (IMO) better than the normal UCS.

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  • Prospect in IB - Gen
Nov 8, 2019

Update: Sorry I completely forgot about the Kenan-Flagler vs Economics issue. Yeah you're at a disadvantage if you're not in the business school. This is because if you are in econ, people will assume you didn't get into business. Econ is also notoriously hard here. Business on the other hand pretty much hands out Bs. Getting an A is a somewhat difficult. I think its like 30% cut off for an A. The B School career services are (IMO) better than the normal UCS.

Nov 8, 2019

Thank you. What happened with Citi?

  • Analyst 1 in IB-M&A
Nov 8, 2019

we consistently send a couple to Barclays(Menlo Park and NYC) per year.

  • Analyst 1 in IB-M&A
Nov 8, 2019

BAML NYC is a target at this point, and CS has dropped off to non-target

  • Prospect in IB - Gen
Nov 8, 2019

Yeah on second thought you are right about both of those. I totally missed that most of the CS kids in the past few years went to CS Raleigh.

Nov 9, 2019

Adding on to this - Wells takes kids in a general pool. I'll agree most end up in Charlotte but they have about 30 or so interns who end up in NYC. Citi FIG is also targeting UNC and will take 2-3

  • Prospect in IB - Gen
Nov 9, 2019

What do you mean by "In a general pool" and how do you know that about Citi? The alumni database doesn't show anyone at Citi in recent years.

  • Analyst 1 in IB-M&A
Nov 8, 2019

UNC honestly sends more to NYC than it does to Charlotte. The thing about UNC is that the kids who are successful in recruiting here are sociable and fun. If you're socially awkward/can only talk finance, do 3 IB internships as a freshman but lack campus involvement, and dont fit in with the school culture you will not get an offer. There's nothing wrong with being like that but you should go to a place like stern instead. If alumni like you at UNC, you can get an offer at any BB, but GS/MS/BAML are the most common. Even kids who don't network and have no finance experience can land a top MM from on campus recruiting if they have a good personality. Being in Kenan-Flagler doesn't inherently increase your chances, but the resources provided can give you a better shot at knowing what you're talking about. There is 0 recruiting that happens just for Kenan-Flagler. That being said. KF is fairly easy to get into so if you strike out in that process, your GPA or experience will probably not be enough for a top BB. If you're passionate about another major, go ahead and do that if you can keep a 3.5+.

TLDR: it's easy to land NYC IB from UNC if people like to be around you

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  • Prospect in Other
Nov 8, 2019

Will a 3.5+ stats/econ double major from a target make the cutoff?

  • Prospect in Other
Nov 8, 2019

bump

  • Prospect in IB - Gen
Nov 8, 2019
Prospect in Other:

from a target make the cutoff?

Do you go to UNC?

  • Prospect in IB - Gen
Nov 8, 2019

I agree with the the being liked thing being a huge factor, but I'd say its more about being liked by alumni. However, someone who would be liked by alumni would surely be social here. Not that you claimed this, but for example I wouldn't say being in a frat or something like that is a requirement. For example I got an SA offer now at a BB but I'm pretty introverted. By that I mean I prefer not to do things like go to parties, but am totally fine if I have to. If you know what I mean. I'd say just be a nice person to everyone you meet here and strike up convos and you're golden. In addition, if you can get IB as a freshman, you are either connected or charming enough anyway lol.

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Nov 8, 2019

How would you describe the culture at UNC? And what do you mean by campus involvement

Nov 9, 2019

In my experience (KFBS student with NYC BB offer), UNC, specifically KFBS, gives you the network, resources, etc to be more than prepared to secure a great offer in NYC or CLT.
Work hard, be involved, and be a good person. Network with UNC alumni, and if you find some older mentors and build relationships with them, you'll be in great shape.
Side note - What was said above re: targets is spot-on. HOWEVER, UNC has sent kids to Lazard, Guggenheim, and Moelis, Park Hill (PJT Partners) recently. Also, JPM used to be much more of a target, but now they have shifted their recruiting strategy, making it a different story. Again, you can be very successful here by being a very strong candidate and networking efficiently and effectively. PM me

  • Prospect in IB - Gen
Nov 9, 2019

How has JPM shifted? They are one of our largest employers.

  • Analyst 1 in IB-M&A
Nov 9, 2019

JPM doesnt really have targets anymore because referrals and even senior bankers dont have pull , recruiting now depends on hirevue/pymetrics -> superday. Info sessions, resume drops, on campus interviews won't be there at UNC or other old JPM targets.

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  • Analyst 2 in S&T - FI
Nov 9, 2019

UNC has some great resources for breaking into NYC IB, less so on S&T with the exception of Bank of America and Wells Fargo. My advice would be to go to UNC, apply to kenan flagler at the end of freshman year(could be wrong on timing), join the Reynolds Investment Fund(hard to get in so try tar heel alpha as a back-up), get an internship in finance after freshman year, build relationships with professors and alumni. Should really allow you to go anywhere on the sell side, a few places on the buy side.

  • Analyst 1 in IB-M&A
Nov 11, 2019

Unpopular opinion: being in Kenan-Flagler doesn't help in recruiting at all, alumni usually arent the ones interviewing so nobody cares. Also, you apply to KF at beginning of sophomore year.

You're right about S&T and even our courses lean towards IB.

Not in Reynolds but the kids who are seem pretty smart and driven. Fun fact: Reynolds can invest the entire portfolio of PMT in 1 trade and compared to PMT its over 10x the AUM with way less analyst spots. Never heard of Tar Heel Alpha but could be good.

  • Prospect in IB - Gen
Nov 11, 2019

I would say it helps a little bit, but every year it diminishes in importance. I agree with the Reynolds fund. Their exec board has phenomenal placement.

Nov 9, 2019

Current UNC sophomore. I can reiterate everything mentioned above. We're a target at almost every BB and if not, we still have the brand name to be well respected (as what non-alumni MDs have told me). Alumni are super supportive when networking and you can even notice that in this forum (sounds like alumni are commenting on this thread). In terms of recruiting, all the info sessions and events are for any major on campus. When I was getting super days with BBs as an econ major, they never asked me why I was never in KF. It seemed only as a bonus if I was. In that case, do not stress yourself that you have to get into KF to land an IB role because many alumni come from many majors outside of business. Hope this helps.

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  • VP in IB - Ind
Nov 10, 2019

UNC is like Stanford in the sense that not many kids are interested in IB, but those who show interested in finance and NYC as a location can land an IB gig here nearly effortlessly.

The process is a shitshow now, so you may not get your top bank because of timelines, but you can land some BB if you cast a wide net. Don't write off DB, UBS, or CS just because you might see negative headlines on them.

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  • Analyst 1 in IB-M&A
Nov 11, 2019

I get your point but thankfully we don't get recruiting from CS or DB. But yeah I agree I got an offer pretty easily.

  • Prospect in IB - Gen
Nov 11, 2019
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  • Prospect in IB - Gen
Nov 11, 2019