University of Illinois at Urbana-Champaign

IBWannaB's picture
Rank: Orangutan | banana points 343

How is this school regarded in IB circles?
Especially the MS Finance programme! On its employement report, all the the BBs are listed. Has any seen a UIUC grad in the major banks? Or nor representation whatsoever?

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Comments (54)

Aug 28, 2007

do Big 4 accounting.

im sure theres some representation in BBs, but not much.

just because BBs are listed in the "employement report" doesnt mean its the ibanking division. anyone can get into BB pwm. also i dont think UIUC's finance program is very highly regarded but i may be wrong. all i know is UIUC is known for their accounting and engineering programs.

Aug 28, 2007

Goldman, citi, lazard, db, bofa, merrill among others came to campus when I was there. I know a few people who went to citi - not sure about the others. I ended up at a BB through some other channels. Must be an OK reputation for why else would the banks show up. Also i dont think the MS program improves your chances at all. On a random note, take the case studies in fin class....

Aug 28, 2007

I am considering MS Fin since I am not from US.

"Goldman, citi, lazard, db, bofa, merrill among others came to campus when I was there. I know a few people who went to citi"

You mean the front office recruiting here, right? And not the other kinda positions one can get (operations, other support roles)

Aug 28, 2007

Yep, front office for all of them with the exception of merrill -can't remember what the deal with them was. You should be able to find all this through the career services as well - they should have a list of all the banks coming to campus

Aug 28, 2007

Yes they have a list on the website but it does not say whether it is front office or not. So how would you rate the schools representation at BB banking? It is the strongest in Chicago as I can imagine. Am I right?

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Aug 28, 2007

northwestern and u of Chicago are stronger

    • 1
Aug 29, 2007
koop:

northwestern and u of Chicago are stronger

My Q was clearly not this, but was about the represention of UIUC at BBs or MMs for that matter. Thanks for the help!

Aug 28, 2007

like, duh.

Aug 29, 2007

UIUC is a semi-target school, but don't let these people on the board make you feel that UIUC is of subpar caliber. We have a great alumni connection and are well represented across several banks.

The major banks that recruit for front office positions here are GS, ML, Lazard, JP Morgan, Citi, B of A, and Bear Sterns

Other middle market banks such as Baird, Lincoln International, HLHZ, William Blair also recruit actively

You have to keep in mind though that the majority of full time positions are filled up with summer analysts. Most of the BBs I've mentioned above hire majority/all of its summers into the full time program, leaving less room for those without internships.

I've personally met with a few people from the MS finance program and their resumes were not that great. They didn't really seem too knowledgeable about banking and most were international students, lessening their chances of even landing the interview.

Hope this helps.

Aug 29, 2007

and he did not get an offer, its hard but doable

Aug 29, 2007

??

Aug 30, 2007

I know it should go to the other thread, but doesn anyone have info on ther consulting recruiting? How great are their numbers?

Aug 30, 2007

gs

Aug 30, 2007

I know the guy.

Aug 30, 2007

.

(posted in wrong thread)

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Aug 30, 2007

There's very little representation of Urbana Champ on the street esp in PE and IBD. A little better in trading in chicago at least.

Aug 30, 2007

There is a pretty strong representation in Chicago..not very big in NYC though

Aug 30, 2007

For some reason I have seen many UIUC people at Citi NY.

Aug 30, 2007

.

Aug 30, 2007

I second goalieman, I have met quite a few guys in Chicago from there. Can't same the same about NYC.

Aug 30, 2007

yeah, it's a feeder for chicago. very very few (read: i've never met one) from Illinois in NY

BossMode

Aug 30, 2007

GS does every other year usually. MS posts positions but does not come down for interviews (usually conducts phone interviews). Typical firms that come down are Citi, Deutsche, Lazard, BMO, BofA ML, Blair, Baird, Houlihan, JP Morgan (sometimes), Lincoln, and a few other mid market firms. Recruting is definitely getting better here, and these roles are all for front office Chicago.

Aug 30, 2007

GS does every other year usually. MS posts positions but does not come down for interviews (usually conducts phone interviews). Typical firms that come down are Citi, Deutsche, Lazard, BMO, BofA ML, Blair, Baird, Houlihan, JP Morgan (sometimes), Lincoln, and a few other mid market firms. Recruting is definitely getting better here, and these roles are all for front office Chicago.

Aug 30, 2007

Im pretty sure you have to network you ass off to even get an interview from any of the BB's. Pre financial crisis maybe a simple resume drop with a high gpa could have gotten you a 1st round, not su much the case anymore. but I do know that a ton of banks go down for informational interviews.

Aug 30, 2007
porsche959:

Im pretty sure you have to network you ass off to even get an interview from any of the BB's. Pre financial crisis maybe a simple resume drop with a high gpa could have gotten you a 1st round, not su much the case anymore. but I do know that a ton of banks go down for informational interviews.

Not accurate at all. UIUC is a regional target for Chicago and places very well there. Opportunities in NYC are much rarer but do exist.

Aug 30, 2007

Assuming you are talking about UIUC, not UIC

Aug 30, 2007

l

Aug 30, 2007

im at UIUC, had 2 superdays with two BBs in their NYC office. Got an offer for a MM IBD SA in NYC this summer. 3.4 GPA fin major. There are opportunities for NYC

    • 1
Aug 30, 2007

Met with Duff & Phelps M&A Group and they had a ton of people from both Illinois undergrad and grad.

Aug 30, 2007

Uhmm

I go to Illinois and at one of the info sessions I was told that Chicago offices do most on-campus recruiting from Illinois, WashU, Indiana, and Northwestern. I can't say that's true for all of them but when I look at our school's career calender, I think just every BB comes here to interview (Only a couple of MM's though). I know in the past (merely 1-2 years ago) Illinois was not recruited nearly as much as it is today though.

Hope this helps.

Also last year I think 6% of Finance majors went into IBanking, which seems decent for a large school. There are also a good amount of Accounting and Engineering/Math/CS majors that go into it as well.

Which school are you from? I'm guessing Minnesota, MSU, Iowa, Penn State, Purdue or Ohio State?

Aug 30, 2007

To add to Arcanne's comments above, I was once told by an IB recruiter that the BB firm's experience hiring analysts out of Illinois has been very positive in that Illinois undergrads have stronger accounting skills vs. Indiana, Northwestern etc.

Aug 30, 2007

An easy thing to do is look at the career services website, look for the career fairs, and check the companies attending.

I did a quick check of one of the fall career fairs and saw BofA, Citi, MS and UBS.

Aug 30, 2007

Lazard goes to Illinois so they are pretty good.

Aug 30, 2007

wow, I used to think Lazard was ultra selective.

Aug 30, 2007

They are selective. But they're pretty open to going to a variety of schools hoping to catch a diamond in the rough.

Aug 30, 2007

to say, but Illinois is mediocre even for Chicago banking. I have friends who went there and are telling me this. Michigan and NW dominate the major BBs. You'll have your occasional UChicago, ND, or Indiana, but those guys are typically superstars at their respective schools. Same applies for Illinois. Unless you have a 3.8+ GPA, hard to get interviews, much less an offer, from a BB even in Chicago. NY, from what I hear, is pretty much impossible

Aug 30, 2007

really? what is it that UChicago is not a "target school?" I always thought they were at least on par, if not better than UMich and Northwestern...

Aug 30, 2007

actually I'd say they're all on par with each other, no school at analyst level has an advantage over any toher.....at associate level, UChicago is much better represented (in terms of quantity) in Chicago. However, Umich and NW will still give you a great shot. These 3 schools are head and shoulder better than other schools. However, if you went to Wharton/Harvard and want to move to Chicago, you should be able to quite easily.

Aug 30, 2007

actually I'd say they're all on par with each other, no school at analyst level has an advantage over any toher.....at associate level, UChicago is much better represented (in terms of quantity) in Chicago. However, Umich and NW will still give you a great shot. These 3 schools are head and shoulder better than other schools. However, if you went to Wharton/Harvard and want to move to Chicago, you should be able to quite easily.

Aug 30, 2007

Is Illinois primarily non target for and IB regardless of departments? eg, would you still have a good chance at trading instead of ma from a Illinois/Indiana/etc?

Aug 30, 2007

Generally, from a non-target chances at trading are better than the odds of getting into IB. However, what do U truly want to do?

Aug 30, 2007

he's wrong about the kids from U of C being "typically superstars at [U of C]." U of C is definitely a target....maybe not for NYC offices though, i dunno

Aug 30, 2007

i think illinois sucks. what i have seen in terms of mba grads - quite unimpressive. kids.

Aug 30, 2007

First about the MBA kids, Illinois doesn't have a great MBA program. Especially to prepare people for banking. In fact, I heard one story about the MBAs taking part in a corp. fin case competition against other schools (Chicago,Northwestern etc). Some of the undergrads had to step in and coach them on valuation etc. A lot of them are smart but usually know little about business (former engineers ). I hate to sound like this but a lot of the ones I have met are Asians/Europeans straight from Asia/Europe who struggle with english etc and that seems to be a huge impediment( I am one as well butbut i do OK with English/Communication etc). Needless to say they didn't win the case competition.

Now in terms of undergrad, illinois is the best accounting school in the country and we do have a decent finance faculty as well. The thing is the motivated students (say about 40% of the business student) are really motivated and usually can compete with most undergrads out there. These are the kids who typically become I bankers, Consultants and because of the accounting bias accountants at the Big 4.( I know I-bankers and Strategy Consultants are typically more more motivated that someoned doing Audit at Deloitte but you get the general idea). Now the real problem is the botton half who get OK jobs ( what one banker described to me as a regular job) and that skews the perceived quality. But it is a state school so thats something we really can't change. Plus Engineering gets a lot more money than the business program simply becase illinois is seen as an engineering school.

Now it terms of IB, each year a decent number of undergrads go into banking. I don't know how this compares to other schools but let me give you an idea about this year. This is to the best of my knowledge and there may be more people with offers. Most banks hire from Illinois with the notable exceptions of MS and CS.
GS: 2 offers so far from the interns, full time time interviews happened recently not sure what happened with that. They were looking to make one more offer if it was worth it.
Merrill: at least 2-3 offers from the intern class and they have another superday coming up
JPM: 4 offers from the interns. I am not sure what happened with the full time interviews
Lazard: 2 full time offers
Citi: At least 3 offers from the intern class. Again not completely sure about happened with the full time. I know one guy got the offer from Chicago butturned them down. Another one accepted New York
BofA: 4 offers to the best of my knowledge.
Bear Stearns. 4 offers extended
Duetsche Bank: Not sure
UBS: at least one offer
Along with that there a fair amount of MMs and boutiques who come here to hire. William Blair, Robert Baird, Lincoln Partners (International now I think) etc etc.
Hope this helps

Aug 30, 2007

seems like recruiting is getting better here

Aug 30, 2007

From what I heard, Indiana seems to be getting more people into Ibanking than Uillinois because at Indiana it is pretty much just business school that is recruited, but at Uillinois its pretty much the whole university

Aug 30, 2007

Illinois is pretty solid when it comes to finance. You have to remember that it is the top accounting school in the nation, and the third best engineering school. Recruiters will find enough students who have expertise in both finance and quantitative analysis/mathematics to keep them happy.

Aug 30, 2007
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