University of Miami Herbert Business Placement

A good friend of mine is deciding on where to go to school as they just got off the waitlist for UMiami and it is their dream school and top choice, but they have gotten into some other schools that may provide better opportunities when it comes to finance (they're interested in IB, consulting, PE). They got into Northeastern, Tulane, Elon and Fordham.

My question is, how is UMiami with regards to finance, does it place well? Is there decent recruiting? Does one have a shot at Wall Street if they work hard? 

Any input is greatly appreciated! 

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Comments (12)

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May 10, 2021 - 11:31pm

UM Alumni here. Almost EVERY top tier bank/firm is in Brickell/Miami and they all are flooded with UM students and alumni. If you get good grades and are personable, you can easily find UM alumni to network with and get you in the door at the top tier banks.

As for recruiting, only bank that actively recruits on campus is Citi. They take about 20 UM students each year and and funnel them into the Private bank and Treasury and Trade solutions groups since the Global head of HR at Citi went to UM. Alliance Bernstein, PWC, Blackstone are also a few other firms that recruit on campus.

Not much of an investment banking presence but a very strong Weath/Investment Management and private banking scene. Also big Real estate scene.

As many people know, there is a huge Finance/tech scene flocking to Miami and UM is poised to benefit.

As for the classes, they aren't too intense or impressive. There's an awesome Student Managed Investment Fund club that's hard to get into but is an awesome resume boost.

Overall, there's a huge network of UM alumni in the Miami scene who are very connected and willing to help undergrad.

May 10, 2021 - 11:46pm

I'm graduating from UM this Friday. Got a job a Private Equity analyst for a small firm here in Miami. I know tons of UM grads who get jobs at BAML and Citi. One of my friends is going into Private Banking at JPM and another is going into Asset Management at Lazard. Every person I know who is an accounting major here is going to work at PwC, Deloitte, EY, or KPMG.

The University of Miami definitely isn't a "target school" but i know plenty of people including myself who have landed great jobs and are earning $75,000+ as 22 year olds.

That being said, it's extremely easy to get distracted at UM. My first two years were a drunken blur and I really didn't get my life together until junior year. I can't speak on Tulane and the others but my experience here at UM has been amazing. Miami is also a really interesting place to be right now, especially in finance

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May 11, 2021 - 7:31am

UM's career center is pretty useless unless you're in the accounting program in my opinion. If you're in the 5 year accounting program you pretty much have a guaranteed job at one of the Big 4. But UM's career center does little to help with networking and preparing you for banking interviews, so finding positions and how you network is really all up to you.

One slight disadvantage is that UM does have a reputation as a party school. I noticed that when i told my friends parents back i high school that i was going to Miami they reacted in a weird way compared to my friends who were going somewhere like Georgia Tech or Boston University.

  • Intern in HF - Other
May 11, 2021 - 8:59am

Northeastern the co-op program they have is incredible and will place your friend in IB, PE, or CO at great firms. That program will outplace any of the schools mentioned as long as you execute and do a good job during the co-op. The school will give you access to Boston and NYC recruiting which both have strong pipelines (much better than any of the other schools).

Private Banking is a solid career but it is not IB and much easier to get into. Some of the placements brought up for UM grads (namely treasury and trade solutions are BO jobs that you could get if you went literally anywhere). 

Also looked up the tuition for UM and it's not worth it if your friend is paying sticker price. It costs more per year than Harvard and charges almost as much as NYU while not even being in the same ballpark as them academically (UM is a nontarget). 

Should also add that all of the talk of wall street moving to Miami is blown out of proportion. Very few if any FO groups are moving down there it's all BO/MO employees because they don't get paid enough to afford NYC.

May 11, 2021 - 9:10am

It's true that Miami is incredibly expensive. If not for scholarships and financial aid there is no way I could have afforded to go there. There's a ton of students who come from Fairfield County Connecticut or Northern New Jersey or Long Island who's parents are in the 1%. It's nice to make friends with these kids because their parents are usually in banking or real estate 

  • Intern in HF - Other
May 11, 2021 - 9:23am

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