Rutgers' Reputation

JeremyS's picture
Rank: Monkey | 54

I'm a high school student who has just recently been accepted to Rutgers Business School (undergrad of course). This is my state flagship, and from what I've read/know, a very good business school.

Before I get the answer that Rutgers has no reputation on the street, I should say that I'm not looking for an IB job.

The only business background I have is in accounting, but I am more interested in becoming a financial analyst, particularly for an investment management company, so I could work my way up to portfolio manager eventually.

So my question is, how feasible is it to get a job in Asset Management or corporate finance from Rutgers? I am debating between majoring in accounting, which provides much more of a promise of a job upon graduation, or finance, which I think I am more interested in.

Thanks
JeremyS

Comments (93)

Jan 14, 2013

If you want to ultimately become a portfolio manager, you should rethink your career trajectory because your career end goal does not sync with where you want to start your career. Portfolio managers typically have worked on the sell-side of finance, often in either equity research or banking, or have started in a portfolio analytics role at a buyside mutual fund and have worked directly under a portfolio manager on their team and have gradually worked their way up. Either way, it is an inherently different skill set than that of a financial analyst, and you should plan your progression accordingly.

If money is not a major concern, I would look at other schools besides Rutgers. It isn't a bad school, but you could start better places and save yourself a lot of time down the line.

Jan 14, 2013
rufiolove:

If you want to ultimately become a portfolio manager, you should rethink your career trajectory because your career end goal does not sync with where you want to start your career. Portfolio managers typically have worked on the sell-side of finance, often in either equity research or banking, or have started in a portfolio analytics role at a buyside mutual fund and have worked directly under a portfolio manager on their team and have gradually worked their way up. Either way, it is an inherently different skill set than that of a financial analyst, and you should plan your progression accordingly.

If money is not a major concern, I would look at other schools besides Rutgers. It isn't a bad school, but you could start better places and save yourself a lot of time down the line.

First off, thanks for the insightful reply. I won't pretend to be well versed in finance, as I've said I have a minimal business background from classes I've taken and books I've read.

Correct me if I'm wrong (I probably am), but I thought portfolio managers generally controlled corporation's investment portfolios. I figured this was basically the same as asset management.

In my best case scenario, I'd like to work as a "financial analyst" at a mutual fund, I guess meaning I would start out researching stocks. I figure someone in this position would be analyzing financial statements and other more in depth means of determining a stock's value to the MF.

On a different note, money is definitely a concern for me, but just out of curiosity, what other schools would you recommend? I could probably get into Villanova or Boston College, but probably not NYU. Besides, the deadlines have already passed for these schools I believe.

Thanks again.

Jan 15, 2013
JeremyS:
rufiolove:

If you want to ultimately become a portfolio manager, you should rethink your career trajectory because your career end goal does not sync with where you want to start your career. Portfolio managers typically have worked on the sell-side of finance, often in either equity research or banking, or have started in a portfolio analytics role at a buyside mutual fund and have worked directly under a portfolio manager on their team and have gradually worked their way up. Either way, it is an inherently different skill set than that of a financial analyst, and you should plan your progression accordingly.

If money is not a major concern, I would look at other schools besides Rutgers. It isn't a bad school, but you could start better places and save yourself a lot of time down the line.

First off, thanks for the insightful reply. I won't pretend to be well versed in finance, as I've said I have a minimal business background from classes I've taken and books I've read.

Correct me if I'm wrong (I probably am), but I thought portfolio managers generally controlled corporation's investment portfolios. I figured this was basically the same as asset management.

In my best case scenario, I'd like to work as a "financial analyst" at a mutual fund, I guess meaning I would start out researching stocks. I figure someone in this position would be analyzing financial statements and other more in depth means of determining a stock's value to the MF.

On a different note, money is definitely a concern for me, but just out of curiosity, what other schools would you recommend? I could probably get into Villanova or Boston College, but probably not NYU. Besides, the deadlines have already passed for these schools I believe.

Thanks again.

Villanova and Boston College would both be better options than Rutgers in terms of recruiting prospects. I know several BC kids on the street, and Villanova's undergrad business school usually flirts with the top ten. It all depends on the type of college experience you would like to have. I don't think majoring in accounting is a bad idea since much of what we do in finance is based on accounting knowledge. If you are going to attend one of the schools you mentioned, it's going to be very important to have a high GPA because they aren't as heavily recruiting as more traditional target schools, though they are still good programs.

Jan 14, 2013

Rufio is right.

What do you mean by financial analyst? An analyst who covers financials or what they used to call the accounting department? If the latter, that does not translate into a PM role. If the former, that could work.

    • 1
Jan 14, 2013
SirTradesaLot:

Rufio is right.

What do you mean by financial analyst? An analyst who covers financials or what they used to call the accounting department? If the latter, that does not translate into a PM role. If the former, that could work.

I meant the former. I have taken financial accounting and although I find it somewhat interested, I'd rather be analyzing financial statements as opposed to building them. For this reason, if I couldn't get into a MF or asset management company, I would gladly take a job in corporate finance.

Thanks

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Jan 14, 2013
JeremyS:
SirTradesaLot:

Rufio is right.

What do you mean by financial analyst? An analyst who covers financials or what they used to call the accounting department? If the latter, that does not translate into a PM role. If the former, that could work.

I meant the former. I have taken financial accounting and although I find it somewhat interested, I'd rather be analyzing financial statements as opposed to building them. For this reason, if I couldn't get into a MF or asset management company, I would gladly take a job in corporate finance.

Thanks

What you want to do is called an equity analyst or research analyst.

Jan 14, 2013

But if you are dead set on Rutgers, Harvey Schwartz (Goldman's CFO) came from there and is eager to boost recruiting

Jan 14, 2013
GeneralThade:

But if you are dead set on Rutgers, Harvey Schwartz (Goldman's CFO) came from there and is eager to boost recruiting

Wasn't aware of that. I know some students get IB jobs right out of Rutgers, but even if I was lucky enough to get that position, I would prefer the aforementioned careers. Not saying I would be able to turn down an opportunity like that, but I try not to overshoot.

Thanks

Jan 17, 2013

Yeah, given the options I would major in finance and then take courses in Accounting and Econ to round out your experience.

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Jan 17, 2013
rufiolove:

Yeah, given the options I would major in finance and then take courses in Accounting and Econ to round out your experience.

Okay thanks. I don't mean to quote something from the beginning of this thread.. but...

rufiolove:

It isn't a bad school, but you could start better places and save yourself a lot of time down the line.

As I've said, I would be fine with graduating and going into corporate finance. I don't think this is too hard of an industry to get into, maybe just as hard as Big 4 accounting? But as I said, I'd like to get into ER, although I'm not sure how hard that is to get into. So as a final question, how difficult is it to break into ER? Would it be expected for anyone to have previous finance experience before getting into a position like that? Or would it be a lot harder for me simply because I'm not attending a target school?

Thanks a lot everyone, esp. Rufiolove and SirTradesALot

Jan 17, 2013
JeremyS:
rufiolove:

Yeah, given the options I would major in finance and then take courses in Accounting and Econ to round out your experience.

Okay thanks. I don't mean to quote something from the beginning of this thread.. but...

rufiolove:

It isn't a bad school, but you could start better places and save yourself a lot of time down the line.

As I've said, I would be fine with graduating and going into corporate finance. I don't think this is too hard of an industry to get into, maybe just as hard as Big 4 accounting? But as I said, I'd like to get into ER, although I'm not sure how hard that is to get into. So as a final question, how difficult is it to break into ER? Would it be expected for anyone to have previous finance experience before getting into a position like that? Or would it be a lot harder for me simply because I'm not attending a target school?

Thanks a lot everyone, esp. Rufiolove and SirTradesALot

It is very difficult to break into equity research. It WOULD be expected for you to have previous finance internships before getting into that position. It will be harder because you aren't attending a target school.

Jan 19, 2013

Blackrock has a decent amount of Rutgers alumni, use your alumni network for AM...

Jan 19, 2013
FINANCE975:

how is rutgers viewed by wall street? What must one do to get a job in investment banking/equity research from rutgers?

Rutgers has a surprising presence. Bankerella has a post about it. It's called the real presence on wall street or something like that. I think if you work hard and network hard you can break in.

Here it is
//www.wallstreetoasis.com/blog/what-banker-careers-r...

Jan 19, 2013

I know a ton of Rutgers grads but they are in BO/MO roles. I'm sure there are some out there in front office jobs however.

Jan 19, 2013

I don't know about S&T or research, but only a select few banks go to rutgers to recruit for IBD. however, it's definitely possible to break in through networking. I know 2 analysts at BBs in IBD from Rutgers. Citi recruits there I think. another summer at the MM I was an SA at was from rutgers. also, an associate in the healthcare group was from rutgers as well. so it's definitely possible, just harder.

Jan 19, 2013

Hey buddy Rutgers grad in the house, I'm class of 2011 working in PWM at a BB. Your prospects are good I'll give you an idea just off the top of my head of a few of my fellow class of 2011 fraternity brothers. One of them just got hired with my firm also in PWM. 2 others are analysts one of which at another BB the other at a smaller IB firm. Another one is in consulting and he really seems to like that. Rutgers is well known in NYC so just get good grades and if possible get into the business school and theres really no reason you can't break into investment banking if thats what you wanna do. PWM is a little easier to get into and I wasn't in the business school.. still good money though and I'm only working 40-45 hours a week. Take advantage of the networking events the school hosts and honestly joining a fraternity can make networking that much easier. Best of luck, GO RU!

Jan 19, 2013

thanks everyone..so it is definitely possible

Jan 19, 2013

It's possible, BBs recruit mostly for BO/MO roles but they do take a small number of students every year for FO roles. The students I know that got into BB FO positions had minimum 3.8 gpas, great extracurriculars, and finance experience from freshman/soph years so you do have to work your butt off if you're coming from Rutgers.

Jan 19, 2013

thanks...does anyone know anything about equity research from rutgers?

Jan 19, 2013

Rutgers is definitely a target for babes

Jan 19, 2013
broadstbully:

Rutgers is definitely a target for babes

Slutgers.

Rutgers is fine. Great state school that obviously benefits from being so close to NYC. I wouldn't sweat trying to justify or compare it though. University ranking or reputation isn't built on finance recruiting. Just be happy you're getting a great ROI.

Jan 19, 2013

Don't make me laugh

Jan 19, 2013

Do you work for Rutgers...?

  • Financial Rep in Consulting
Jan 19, 2013

He just wants to be super excited to tell everyone he goes to a semi-target now.

Jan 19, 2013

You're the reason why Rutgers is a non-target.

Jan 19, 2013

It's a solid school. Not going to turn any heads on resumes, but not going to turn any away either for that matter.

Jan 19, 2013

And Rutgers is known for its freshman writing courses....

Jan 19, 2013

It's not a target.

Jan 19, 2013

There's alot of people out there from rutgers. It's a semi target for some places. Goldman requested a resume book from the business school a few weeks back. Only 40 were sent. Your gpa needs to be 3.85 plus so I'd work on that. Also make sure you network like crazy man I'm talking everything you can go to. It's doable.

Jan 19, 2013
kraynro:

There's alot of people out there from rutgers. It's a semi target for some places. Goldman requested a resume book from the business school a few weeks back. Only 40 were sent. Your gpa needs to be 3.85 plus so I'd work on that. Also make sure you network like crazy man I'm talking everything you can go to. It's doable.

generally good advice. But no recruiter is going to give half of two rats asses whether he has a 3.7 or a 3.85

now if he had a 3.2 or something, then it would make a difference.

Jan 19, 2013

Agreed that 3.7 is fine. That being said it's a pretty far from being even a semi-target, but the upside is that since it's a massive public school there should be a sizable alumni network. Go on LinkedIn and search for all the major banks, taking note of the names and emails of alumni, then reach out to them and ask them to talk with you and give you some guidance.

Jan 19, 2013

Thanks alot guys :)

@kraynro- Where would you have heard something like that?

Jan 19, 2013
pszonkadonk:

Thanks alot guys :)

@kraynro- Where would you have heard something like that?

The dean of the business school emailed me asking for my resume, I was one of the 40. Haven't heard anything yet, though I wasn't holding my breath lol.

Jan 19, 2013

Rutgers is by no means a semi-target, unless you mean for BO roles.

Jan 19, 2013
leveRAGE.:

Rutgers is by no means a semi-target, unless you mean for BO roles.

What 'rules' are you going by. I wasn't aware there were BO or FO rules. I'm from a non-target and I was in FO. I didn't exactly follow any rules there.

Bottom line.. there are no rules. Rutgers is a decent school.. whether you want to call it target, semi-target, or complete shit is totally by your definition.

Jan 19, 2013
rothyman:
leveRAGE.:

Rutgers is by no means a semi-target, unless you mean for BO roles.

What 'rules' are you going by. I wasn't aware there were BO or FO rules. I'm from a non-target and I was in FO. I didn't exactly follow any rules there.

Bottom line.. there are no rules. Rutgers is a decent school.. whether you want to call it target, semi-target, or complete shit is totally by your definition.

Poster said roles not rules

Jan 19, 2013

Rutgers is definitely a non-target for FO roles, but with strong networking obtaining FO internship/jobs is very possible

Jan 19, 2013
DreamMonkey:

Rutgers is definitely a non-target for FO roles, but with strong networking obtaining FO internship/jobs is very possible

THIS

Jan 19, 2013

You are all losers

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

    • 1
Jan 19, 2013

You're a finance major. Doesn't matter what school you go to, you don't have the skill set to be a quant. Keep walking.

Jan 19, 2013

No such thing as a non-target, just someone who isn't networking or wanting the job enough.

Jan 19, 2013

1. As you may already know, attending RU makes it difficult to land FO roles. Of course, every year students are placed in FO roles, but you have to work/network your ass off. As for BO/MO, some banks do come to OCR.

2. Accounting is a very safe alternative as long as you have a good GPA and good experience on your resume. Big 4 firms also come to recruit heavily.

3, I know of a few students who are placed on big 4 advisory/consulting roles from rutgers. Personally, this route seems much easier then landing a FO role.

There are certain clubs/orgs that you should join, that would definately increase your chances during recruiting season. Hope this helps, PM if you have other questions

Jan 19, 2013

I went to a different state school (not in NJ) that is very similar to Rutgers so I can tell you from my experience:

1. There was only about one student from my class that I know of who got an FO role and he got it through connections and networking so it is possible. But with that being said there were a few BO roles in Financial Analyst or Opertations roles.

2. I would say though if you want to do consulting or would be willing to do accounting and then maybe move into working in finance later, then majoring in Accounting would be a good step. The big 4 at my school would barely take a look at my resume despite the fact that I was a top student in Finance and Economics at my school because I wasn't an accounting major and wasn't getting a CPA. But I believe it would be a great option.

3. Similar to my point number 2, this would be in my opinion be much easier as an accounting major, since this is what I was aiming for and as I said, was turned away before they even looked at my resume.

Hope this helps. Like I said, my college is very similar to Rutgers, so this may not be exact but I am assuming is still similar.

Jan 19, 2013

"Look, you're my best friend, so don't take this the wrong way. In twenty years, if you're still livin' here, comin' over to my house to watch the Patriots games, still workin' construction, I'll fuckin' kill you. That's not a threat, that's a fact.

Jan 19, 2013

Woah, I can't even fucking find the "search" bar.
Can you do this for UNC (Kenan-Flagler undergrad) as well?

You crave what you are not.
Dude, your perspective on life sucks.

Jan 19, 2013

Mainly back office and middle office, but front office interviews can be there if you work hard at it.

Jan 19, 2013

I just graduated, working at a prop firm but interviewed and made it really far for multiple BB. the odds are stacked against you but there are decent opportunities if you network. I know a few guys in Citi IB from last year, but no top tier IB even though I know a bunch of people whove gotten top tier trading jobs. You HAVE TO NETWORK. And I don't mean join LIBOR and don't go to a meeting you gotta seriously stick your neck out or you'll end up at Prudential or some back office gig.

Jan 19, 2013
Mfsl27:

I just graduated, working at a prop firm but interviewed and made it really far for multiple BB. the odds are stacked against you but there are decent opportunities if you network. I know a few guys in Citi IB from last year, but no top tier IB even though I know a bunch of people whove gotten top tier trading jobs. You HAVE TO NETWORK. And I don't mean join LIBOR and don't go to a meeting you gotta seriously stick your neck out or you'll end up at Prudential or some back office gig.

So join LIBORS and use them to network at the events?

I Got a dollar and a dream...

Jan 19, 2013

If you have to ask that you're in trouble lol. Of course if you join a club calle little investmen bankers of rutgers you should network at events if you want to become an investment banker. You need to go for a leadership position a well, interact with the advisors, do research as a junior or senior and stretch your network as far as you can. If you're not a people person you will be screwed. Join a fraternity. Talk to alumni. This is all basic stuff. You can't sit on your ass or you'll be just another unemployed rutgers graduate. Forget front office haha with the market the way it is unless you are constantly networking you won't even get a MO oR BO role.

Jan 19, 2013

RU LIBOR is just one of the finance pipelines there, and you'd do well to reach out to as many alums as possible. RU is heavily represented, especially considering that FO recruiting is not done on any systemic level: they have OCR for BO/MO but you're NOT going to walk into career services and land a FO interview. Start pounding the pavement and rest assured that when you show up on the radar that you will understand the reputation that RU kids cultivate: scrappy, hard working, top bucket producers.

Jan 19, 2013
UFOinsider:

RU LIBOR is just one of the finance pipelines there, and you'd do well to reach out to as many alums as possible. RU is heavily represented, especially considering that FO recruiting is not done on any systemic level: they have OCR for BO/MO but you're NOT going to walk into career services and land a FO interview. Start pounding the pavement and rest assured that when you show up on the radar that you will understand the reputation that RU kids cultivate: scrappy, hard working, top bucket producers.

thanks alot. Great responses. Im a rising jr and i intern at a f500 company as an financial analyst. Def not sittin on my ass. Just asking for some validation in terms of my school choice and gameplan

I Got a dollar and a dream...

Jan 19, 2013

MissIND is from Rutgers I think.

Jan 19, 2013

I know of a few Rutgers students at ML and DB, but I'm not sure whether it's front-office IB or what other banks recruit there. From what Rutgers students tell me, it seems like a lot of them are competing for Big 4 jobs.

Jan 19, 2013

Jaclee, the ones competing for the big four are accounting majors. Usually the top finance majors can get front office positions, or at least interviews for them

There are several full-time and summer analysts at both ML and DB for IB. Citi, BS, DB all recruit pretty heavily out of RU.

Jan 19, 2013

Citi and Bear held on-campus interviews for seniors that you could sign up for via interviewtrak. I know that DB also held interviews for internships and took several people. They also gave offers to their summer analysts from the 07' class. I believe this is the breakdown for some of the banks that took students...though I am probably missing a few.

07' Seniors:
BS - 2
DB - 3
Citi - 6

07' Juniors:
DB - 2
ML - 1
BS - 2
Citi - 3

Jan 19, 2013

I heard UBS recruits Rutgers too, is that true? Also what kind of GPA do you think someone needs coming out of Rutgers to get noticed by the IB's?

Jan 19, 2013

I say 3.9+ to be considered.

A Rutgers intern at PwC said the ones who get 3.6-3.8 still mainly go for Big 4's.

Jan 19, 2013

Rutgers is a becoming a core recruiting school now for UBS Equity Research. I know that there was at least 1 hire this year within this group. There are a few rutgers alumni within IB, but I don't think anyone got interviews this year.

I would say GPA wise, you need a 3.7+ to land an interview. I believe that everyone that landed jobs this year had a 3.8+.

Jan 19, 2013

RBS has developed a really strong reputation as having students who are technically strong. RBS alumni network on the Street is growing quickly.

IB:
- Smith Barney
- ML
- Morgan Stanley
- Lehman

Finance:
- ML (huge!)
- Citi
- DB
- Barclay's
- Goldman

Operations:

  • Who cares?
Jan 19, 2013

I suggest you add Citi to the IB list. They have 5 IB analyst there this summer. Rutgers has a very good Alumni relationship with Citi IB. And as far as GPA goes, last years IB summer analyst had between 3.7-3.9 and majors that spanned across Finance+Economics, Economics,Finance, and Applied Math.

Jan 19, 2013
Jan 19, 2013

Smith Barney is the brokerage/wealth management division of Citigroup (different from Citigroup Corporate and Investment Banking division). The IB used to be called Salomon Smith Barney, but now there's a distinction between Citigroup IB and Smith Barney.

Jan 19, 2013

Is there an investment banking club at your school?

If not, start one (pitch the idea to one of your professors).

Jan 19, 2013

Get involved with LIBOR. They're good about setting kinds on track. Call up a local Merrill Lynch PWM. A lot of them are usually looking for interns. After that, it's networking, knowing your stuff cold, and applying with a decently made resume and cover letter. You can definitely do it man.

Jan 19, 2013

PARTY SCHOOL

Jan 19, 2013

I'm a Rutgers student and I recently interviewed at CS for a S&T position and the guy interviewing me said I was one of the first Rutgers student he ever interviewed and met at Credit Suisse. Cititgroup hires a lot of Rutgers students.

"I wanna Thank the Good Lord for Making me a Capitalist"

Jan 19, 2013

THE POST YOU ARE LOOKING FOR HAS DISAPPEARED INTO THIN AIR.

I'm making it up as I go along.

Jan 19, 2013

we talking rutgers ugrad or mba?

Jan 19, 2013

Both if possible. I just want to get an idea in general.

Jan 19, 2013

I know DB took some interns from rutgers last year in banking, but that was a bull market size intern class.

Jan 19, 2013
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Jan 19, 2013
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BossMode

Jan 19, 2013
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I'm making it up as I go along.

Jan 19, 2013
Jan 19, 2013