People In The Midwest
I am looking at colleges for next year and was wondering from anyone who has any perspective about colleges in Minnesota or the midwest. Between the University of Minnesota and St. Thomas University, which would be a better choice for a career in Investment Banking and why?
Look at UChicago, UMich, Northwestern, UIUC, Indiana, Wisconsin, ND, WashU...and others
I've never heard of St. Thomas...And I don't know many people from UMinnesota, so I can't say.
Neither. Try Michigan or Northwestern. Or UChicago.
One of my MD's this summer was a St. Thomas grad, not that that means anything other than that it's been done before. Obviously go to the most target school you can get into. Probably important to distinguish "target" from "best." Macalester and Carleton are of course great schools up there, and I've only heard good things about St. Thomas, but I doubt they get any attention from banks. So if you can't get into NW, UChicago, ND, UMich, Wash,etc, I say go after one of those other state schools that are likely to at least get some attention...or at least that people have heard of.
For a Big Ten School that's not NW, Mich, or Wisconsin, Minnesota actually has a fair amount of people on the street. If you find out that NY isn't right for your there are 5 MM firms in town plus Baird that recruit from there. Probably better than a sub-par private school that no one outside of Minnesota has heard of.
I'd go with Minnesota for the sole reason that there are bound to be more alumni, and therefore you actually have a shot. From the other one, you're in a really tough spot. If you go to Minnesota and get a killer GPA and an internship or two, you can be a reasonable candidate. I assume you'll be fine if you want to recruit for Lazard MM in Minneapolis or others in the area, or even for Chicago.
But yes, in a perfect world go to one of the better Midwest schools.
I'd go with Harvard
Just went through FT recruiting at one of the schools in the Midwest. Here's my thoughts:
UIUC/Indiana: solid Midwest recruiting for both SA and FT. Stronger representation/recruiting at Chicago IB offices than NW or UChicago (esp in the MM). More difficult to get into NYC from here.
NW/UChicago: pretty good SA recruitment, FT recruiting quite difficult (if you didn't receive an offer, or wanted to go to a different bank). With these schools, it's much easier to place into NYC if you want to live in the financial center of the world
UMich seems to have solid recruiting as well, with ND slightly below those guys. Wisconsin is somewhere below UIUC/Indiana, and WUSTL somewhere below NW/UChicago.
I'm in Chicago and I think everyone above pretty much covered all the bases (UChicago, Michigan, Madison, Northwestern). I would also add in Notre Dame just because those guys love themselves so much that its like networking gold.
here's a list of banks that are coming for SA/have come in the past at UIUC:
RWBaird Duff & Phelps Goldman Sachs Bank of America Capital One Citi Deutsche Bank JP Morgan Sagent Advisors Morgan Stanley Lincoln International BMO Capital Markets William Blair Houlihan Lokey Lazard Greenhill Moelis
There are other firms that recruit for FT, but I'm not sure if they recruit for SA: Oppenheimer Keefe Bruyette Woods Sandler O'Neil Stifel Nicolaus Mesirow Financial
and there are a number of regional boutiques in Chicago too (brown gibbons lang, etc.)
I think this is a comprehensive list. Might have missed some. Hope this helps
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If you're looking at Big Ten schools, not a lot of BBs recruit directly from UW-Madison but the Econ department is top 20 and there are tons of networking opportunities - this panel meets with students every semester/at least once a year:
http://econ.wisc.edu/Alumni/advisory.html
Stephen Roach, Chairman of Morgan Stanley Asia was on campus this past fall... in addition to a few Fed presidents
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