Transfer or Stick It Out?
Howdy, y'all. This post is my first on Wall Street Oasis, but I do plan on contributing further. Anyway, I have a question for investment banking veterans, recruiters, and anyone else who knows anything about this situation. I promise that I googled my inquiry in an attempt to resolve it without starting a redundant forum post. What results I found weren't very specific or relevant (maybe I suck at google), so then I decided to ask WSO:
I'm a freshman at the University of Kentucky, majoring in mathematics, economics, and finance. Until a few months ago, I was set on T14 law school, big law (UK does a (surprisingly?) good job at placing our top students at T14s). To be frank, I could not afford an Ivy undergraduate education, especially coupled with elite law school, so I accepted a full ride from Kentucky (not to mention the added benefit of remaining geographically close to my family). This summer I worked with some lawyers and explored the industry. Later this semester my interest in investment banking was (re-)piqued and I now believe that I would rather pursue a career in finance. This decision was not the type of fickle career change considered characteristic of college freshmen, but rather involved quite a bit of research and deliberation.
Now, my chronicle is (finally) over. I know that to best position myself for a bulge bracket job after graduating, I should transfer to a target. My question: is it necessary? I love my school, and if it is feasible that I could wind up an analyst at a BB (we have a few from previous classes, but less than ten on LinkedIn) without transferring, I would prefer not to. However, if it is necessary (and I have a lurking suspicion it is) to transfer to have a decent chance at a BB job, I will.
Long story short: is it necessary for a University of Kentucky (read: non-target) student to transfer to have a decent chance at a bulge bracket analyst position post-graduation?
Thanks,
MAthematician
You sound extremely impressive for a freshman. You know the answer to this question.
^ I'd echo those sentiments. You'll be fine if you're very proactive about the recruiting process and network aggressively. One piece of advice I'd give is to make sure you make clear that you are a full-ride recipient at UK. Going to a target school is essentially signaling to employers that you are likely qualified, and marketing yourself as a full-ride recipient would have a similar effect.
If you are trying to work in NYC it might be very difficult from UK.
How does UK place into banking? I know its going to be a non-target for most NYC banks, but what does the network look like the midwest? If you're a top student (sounds like you are) and hit the UK network hard I would think there would be opportunities in the midwest for banking from UK, might not be Goldman TMT, but it depends on what you're aiming for. Just my opinions though.
Bad advice from all of the above. Guess is they are mostly college kids who attend targets or don't have a BB job at all. I have seen virtually no UK folks anywhere so getting an interview is going to be a huge problem. Most that are on Wall Street probably already have family in the industry.
The real question is how badly you really want IB. In my view, it's overly coveted and the grass isn't any greener than a top notch UK graduate doing something else. With that said, your chances are going to be much better if you transferred into a target school - in those cases it's almost always better to be a smaller fish in a big pond of IB hopefuls than a big fish in a little pond of no chances. The money issue isn't going to go away though - transfer financial aid packages are notoriously bad.
Really dumb choice to not apply to the Ivies to begin with though. The financial packages are very negotiable and taking on debt would almost certainly be worth it given the prestige difference.
Ugh, group selection does not happen until after the fact. The trouble won't be any specific "top" group but getting an interview at all.Calm down bud, I wasn't so much giving advice as I was trying to get an idea of what the OPs situation was and how UK placed into banking. To give you some context I'm from a non-target and had a FO internship at a BB last summer so 1. Go f*uck youself.
If UK is really as bad as you say it is then obviously if the OP is set on IB than a transfer would probably be necessary. My comment comes from the fact that there are some big state schools in the midwest, where an exceptional student can shine and find a way into a REGIONAL bank. I use Goldman TMT as a simple example just because its obviously top investment bank and top group and I wanted to see if the OP was eying a NYC BB vs any place he could work in IB.
OP, sounds like there might not be many banking opportunities in particular, but if I were you I would check and see what other finance and consulting paths there are from UK. There might be some good F500 finance jobs or consultancies which are worth looking at.
Sav, you sound like a sad douchey loser.
mrharveyspecter, UK doesn't seem to place spectacularly in banking anywhere. On LinkedIn, I couldn't manage to find ten alumni who were/are employed for the bulge bracket firms in investment banking. The alumni I have contacted have been incredibly helpful, though, so quality over quantity maybe?
Dawkins11, that's what I feared. Honestly, as long as I wouldn't be relegated to a cut in compensation or a stifling of opportunity, I'd be perfectly fine, maybe even happier, in a different city. New York is wonderful, but it's expensive too.
turnyasystemup and thezone, I'm really not one of those arrogant college freshmen on here fishing for an ego boost. I may come across that way--and if I do, I apologize--I'm just wondering about my "chances" (to borrow a term from the Ivy admissions process). I do appreciate your compliments and reassurance, though!
Dude I might know you. I'm from the area. Where'd you go to high school? PM me
I can discuss transfer apps with you as well, i'm in the process now
kyleyboy, I don't have enough posting experience to send a PM at this time. I will tell you this publicly: I didn't go to high school in Lexington; instead, I graduated from a small town about an hour and a half (driving leisurely) south of there.
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