Does it matter where you go to college for investment banking?
Attending a target school makes the biggest difference if you want to work in investment banking or private equity at one of the largest firms (bulge bracket banks or PE mega-funds) in a major financial center. Outside of that, a better university still helps, but more so for your first job and less for future jobs.
| Search Search in Rank (Total) Institution # Employed Top Employer (Total) Top Employer (Share) | ||
|---|---|---|
| Rank (Total) | Institution | # Employed |
| 1 | University of Pennsylvania | 486 |
| 2 | New York University | 302 |
| 3 | Cornell University | 248 |
For those seeking a career in investment banking, a bachelor's degree in finance is a prerequisite. Other potential acceptable majors include bachelors in economics or bachelors in business supplemented with a minor in finance.
In business and finance, Harvard might carry more weight, while in the tech industry, places like MIT or Stanford could stand out, said Schmidt. However, don't underestimate the value of other well-regarded institutions or even specific programs within colleges that are renowned for certain fields.
- Entrepreneurship.
- Finance.
- Financial Analysis.
- Financial Management.
- International Business Studies.
- Investment Banking.
- Logistics.
- Management Accounting.
- The University of Pennsylvania is one of the top schools for Goldman Sachs, Citigroup (C), and Credit Suisse (CS). ...
- New York University (NYU) is right with the University of Pennsylvania in terms of where investment banks most frequently recruit new employees.
The typical investment banker has a graduate degree in business from an Ivy League school or other top-tier university and superior educational credentials [i.e., excellent grades (minimum 3.50 GPA), active participation in business and investment clubs, and participation in at least one internship or summer program at ...
Accounting and business are also common educational backgrounds. While it is true that liberal arts majors can possibly get jobs on Wall Street, you'll have much better chances of getting the right job with math or business degrees. Major investment banks recruit from the best colleges and universities in the world.
Investment banking is extremely competitive with way more applicants than available positions each year. You will often be up against students from Ivy League universities, with a high GPAs and multiple internships under their belts.
Investment banking is one of Wall Street's most coveted roles. It is also one of the hardest. It is no surprise that the average day in an investment banker's life is long and stressful. Those who manage to survive the adjustment period often go on to have long and financially rewarding careers.
Is finance hard if you're bad at math?
Believe it or not, mastery of advanced math skills is not necessary to have a career in finance. With today's technology, all math-related tasks can be done by computers and calculators.
Yes, GPA matters! Bulge bracket banks and almost all other investment banks will look at your GPA when applying for a job and you should include it in your resume. Typically banks screen resumes based on GPA and will often remove anyone below 3.5.
It's extremely difficult to break in, but once you're in, the compensation and exit opportunities make the initial effort worth it. And yes, it's difficult to advance, but the rapid growth in compensation as you move up more than offsets that difficulty.
Investment bankers meet with clients, send emails, prepare offers, conduct financial projections, work on signing new clients to the company, providing initial public offerings (IPOs), and mergers and acquisitions. These are some of the tasks an investment banker must do on a daily or weekly basis.
Bankers often have degrees in business management, finance, economics, or mathematics and can begin their career after graduating with a bachelor's. There are several career paths within banking including investment banking, personal banking, wealth management, and bank management.
Both economics and finance can be valuable fields of study for entering investment banking, but finance may be a more direct path. Investment banking involves advising clients on financial matters, such as mergers and acquisitions, capital raising, and risk management.
Goldman Sachs does not give a specific minimum GPA requirement, though some sources suggest a GPA of at least 3.6 is preferred. Additionally, you may need to show relevant coursework and hard skills for certain programs.
Originally Answered: Do people who get hired by companies like Goldman Sachs generally come from Ivy League schools or other top universities (like Harvard or MIT)? Goldman Sachs recruits at top schools like the Ivy League schools, MIT, Duke, Stanford and Berkeley. They will hire students from other schools.
J.P. Morgan: “Big Headliner is Manhattan's Baruch College”
More Baruch alumni currently work at J.P. Morgan than any other school, according to our research,” the publication said.
Candidates must demonstrate academic strength – a minimum 3.2 GPA for juniors and a minimum 3.5 GPA for freshmen and sophom*ores, strong teamwork, communication skills and a high energy level.
What GPA do you need for JP Morgan?
Q: What are your GPA requirements? A: We value diverse degree backgrounds and experiences and while a GPA 3.2 (or equivalent) in your undergraduate degree is preferred it is not required. Our training programs are designed to allow everyone, regardless of major studied to succeed.
For example, if you attended a top 5 university, majored in engineering, and completed 2-3 finance internships, a 3.3 – 3.4 GPA is not the end of the world. But if you went to a non-target school, majored in history, and completed 0 finance internships, then a 3.3 – 3.4 GPA may be the end of the world.
Of the two careers, investment banking requires greater quantitative acumen and math skills. The educational requirements for becoming a lawyer are much more rigid than those for becoming an investment banker.
The University of Notre Dame is a top-ranked U.S. university and is a phenomenal school for investment banking placement. Notre Dame ranks #7 on our investment banking target school list, boasting a strong number of hires into the top investment banks.
Stanford ranks #19 on our investment banking target school list, qualifying as a semi-target school. This is not because of Stanford's lack of pedigree. We anecdotally observe that Stanford undergrads tend to be more interested in technology and venture capital roles as opposed to investment banking roles.
