IB from a non-target university - Should I bother?

Hello everyone,

I am a second year student studying a PPE degree in the UK at a decent university... neither good nor bad, but at around the 30th place in the UK rankings. I've been hearing stories that discourage people from 'non-target' universities from applying to an IB position since there is very high competition and a lot of students from 'target' universities like Oxbridge and LSE are bound to apply to the sector. However, I have also been studying some online courses surrounding IB and financial analysis.

I mainly have two options on the table, the first being to go straight to IB, then do a PhD along the way should I find the time in the future, or to try to find a place more prestigious for a PhD then enter banking.

Assuming that I am on course for a First Class degree, would I have a chance in applying for IB, or would the competition be too tough for BBs to consider applicants like me? Would it be easier to take up a PhD on a better university then apply than to go straight to applying? This question is crucial before I devote more time on preparing applications for internships in IB.

Thanks in advance!

 

devote all the spare time you have to getting into IB, if IB is really want you want. Since the field of investment banking is very intense and requires a huge commitment, make absolutely sure that IB is really the career path that you want. If it is, then go for it with all you have.

Array
 

Thanks. What are the most effective ways to do so? Apart from applying for internships, how does a student make themselves more appealing to employers?

 

Spring weeks, other internships, leadership positions, coding, European languages, networking with current bankers.

It can happen. I know someone from a top 30 UK currently at GS/JP/MS for IBD SA.

I am assuming you are applying for a grad role as you're ion second year. In which case I would just recommend doing a masters and reapplying for a summer this year...

A PhD does not do much for IB...

 

Thank you very much for your comment. This means a lot to me, and will help me to direct my efforts correctly. I've started learning French and soon I'm beginning German as well, and I hope to get along with the leadership of the efforts the correct way.

May I ask, though, since I'm doing a 4-year Master's, should I try to apply for internships this year? Many sites say that they accept students from their penultimate year.

 

As long as you're in you're penultimate year it is suitable, which in your case it is.

Have a backup plan e.g. Big 4 transaction services, boutique corp fin firms, which you can always attempt to lateral to BB later in your career.

 
Most Helpful

A Phd will do you no good in IB. If anything, you will look overqualified for analyst roles and not have enough relevant experience to join as an associate. Go all-in on IB and apply to whatever corporate finance, MM IB, BB you can find. Cast a wide net and focus on gaining relevant internships. Spring weeks are also a great way of getting your foot through the door.

I don't know... Yeah. Almost definitely yes.
 

Ut quis cumque labore. Nam ipsam tenetur sed qui doloremque consequatur. Deleniti occaecati dolore laboriosam officiis magni saepe molestias.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
dosk17's picture
dosk17
98.9
9
numi's picture
numi
98.8
10
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”