Zurich IB Job
Hello!
I'm new in the forum and I've been getting really interested in Investment banking.
I am currently ending the senior year, about to get into an Economics or Math degree, not really sure which. I'll probably choose in August.
Well, my question is:
What should I try to do to land a job in Zurich? I'd like (obviously) to get a job at a big bank, like GS or JPM and I want Zurich since the salary is pretty high. I know the cost of living is high, but I come from a very frugal family and I intend to keep it that way. Being frugal in Zurich will make me much richer than being frugal in London, from what I've seen here about salaries.
I know I gotta start ASAP, but what should I do? Send emails? LinkedIn? I'm from Portugal, by the way. A vacation as a summer intern after my first year of college would be financially possible since its rather close.
Thanks for the advice :D
FO IB roles for highly sought after groups such as M&A are much fewer in Zurich than in London or even other European cities such as Frankfurt. You have fewer candidates applying, but proportionally competition is very high due to reduced spots.
For Zurich 90%+ of roles will require B2/C1 German. If you don't have that, forget about it at the Junior level. An exception could be made if you're 3-4 years into the job and are a beast but this is not the case yet.
As for frugality, the COL:salary ratio is pretty proportional to London to be honest. You get paid more but simple things like utilities, groceries and going out are significantly more expensive. If you want the best COL:salary ratio where frugality can lead to huge savings, go for Germany.
Very accurate. TBH, assuming you do not speak German yet, I would aim for London.
If you are really set on Zürich, I would start learning German asap and aim for a Master at HSG (assuming UG in Portugal), as they recruit heavily from this school and the rest of the spots are filled from other Swiss schools mostly.
Also in Zürich CS and UBS are the only BBs with sizeable IBD operations, they are really top choices if you want to stay longterm (which would not necessarily be the case in other markets).
Best of luck!
I don't really think I would need a masters, since CS and JPM are both Top Recruiters at NovaSBE (the university I will hopefully attend) and about 7% of the students who leave the country after finishing a bachelor's there go to Switzerland, with 14% going to London. (Economics degree) From what I've seen on their top recruiters page, the only big "thing" in switzerland who is a top recruiter is CS, so I'm kinda sure that of that 7%, 2 or 3% go to random swiss recruiters and the rest to CS. that 4 or 5% look a lot, but its not, since there is only about 195 students per year, with prob 50% or more staying in the country, which would make 5 or less students going to CS per year.
The german degree I figured that I have three years (during college) to get one. I'm not sure how hard is it to get a degree, but I am optimistic that three years is more than enough for it.
I don't really like "going out", but I understand that that could change in a few years, so I think germany coud be a choice. What I find negative about germany is that for exit ops is not that great. I would like to go into investment banking to then proceed to PE or VC (maybe at 28/29, after getting an MBA) or maybe even RE.
From what I've read, besides pay, Zurich has more "humane" work conditions, starting from not so many 100 hours week, etc. What do you think about this? Is it true?
I can assure you that no one from Nova made it directly to IBD Zürich from undergrad in recent years, as German is really key and there are more local schools to recruit from. Remember IBD is really tiny and the graduates probably went into other divisions at CS.
Zürich is smaller than Frankfurt and has worse exit opps, hours and lifestyle are better.
What do you think about trying to go to St. Gallen? How hard is it to get into it? (as an undergraduate)
St. Gallen is a very strong school (arguably the strongest in DACH), but I think you should go only if you plan on seriously working on your German or if you are proficient in German already. No idea how selective it is for foreigners (but I assume the bar is pretty high), for Swiss people I know that you only need to pass the Matura and you are guaranteed admission. A selection occurs in the first year as well where a lot of students are failed.
Good luck!
I was in Zurich for business few months back - I do speak German but I am by no means Native few remarks:
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