Is University Reputation Everything?

[SJM961]

Hi,

I am currently a student at the University of Kent and have just finished my first year in International Business with Econometrics and received a first. I was recommended by my lecturer to look into a potential career in the investment banking industry but from my research it looks like my chances may have already been dashed just because of the university I have gone to.

I was wondering if anyone firstly had some advice on how to apply to the internships and make yourself comparable with the 'target' university candidates?

Also I have heard lots about the interviews and candidates from large investment banks but what about the mid-range banks, what are their employment opportunities like?

Lastly it would be great to learn more about all the varied job roles within the banks, and equally how competitive they are to become a part of. It seems M&A is very popular, does this make something like structuring less competitive?

Many thanks.

 

[thebondking1]

Do you have work experience? Anything special about you? How are you planning to spend this upcoming summer? Family, friends and friends of friends network may help you clarify your job prospects as of now. I highly advise you to spend time reading around the forum. You will find plenty of good advice. CTRL ES's posts about prestige and summer internship applications are especially good. Also, make sure you keep yourself anonym so others won't be able to identify you.

Boutiques are definitely a safer bet, the lower tier ones at least. That being said, you could still make it to the bulge bracket banks or top boutique firms if you network hard enough and you are not socially awkward etc. By the way the 'popularity' of M&A jobs don't make structuring less competitive, factors such as pay and exit opportunities do. Answering your question yes, structuring is indeed (slightly) less competitive than IB.

 

[DropToTrash1]

Hi,

I am currently a student at the University of Kent and have just finished my first year in International Business with Econometrics and received a first. I was recommended by my lecturer to look into a potential career in the investment banking industry but from my research it looks like my chances may have already been dashed just because of the university I have gone to.

I was wondering if anyone firstly had some advice on how to apply to the internships and make yourself comparable with the 'target' university candidates?

Also I have heard lots about the interviews and candidates from large investment banks but what about the mid-range banks, what are their employment opportunities like?

Lastly it would be great to learn more about all the varied job roles within the banks, and equally how competitive they are to become a part of. It seems M&A is very popular, does this make something like structuring less competitive?

Many thanks.

Is reputation everything? Obviously not but it usually makes the difference.

Get a masters at a target. Get work experience as well. Pick up the phone and start calling people or send emails cold. Hustle your way through undergrad and you will be fine. Any other questions drop it here

 

[FinanceWizard1]

Reputation isn't "everything," but it's certainly a major consideration. Let's put it this way, you will have to work about twice as hard as someone from LSE or Oxford. This means 1. Networking your ass off much more than the average person. Read this thread for an intro to this. http://www.canarywharfian.co.uk/threads/my-work-experience-experience.226/
2. Doing stellar in your classes
3. Doing something out of the ordinary outside of classes (i.e. own a business, lead a finance club, etc.)
4. Take online courses in relevant material- such as financial modeling, etc.

That being said, you aren't forced/destined to be in finance. If you work just as hard trying to get a tech job, chances are you will have an easier time entering the industry and finding a place you like. Tech companies are interested in econometrics due to the data analysis capabilities you achieve. Machine learning is just in its infancy, so you may find this field more interesting, with more prospects, and less competition.

 

[superdisc1]

Agree with everything said so far. There are many great careers out there which have just as much job satisfaction and pay not a lot less than banking (and pay more per hour...!). Your first decision is whether you really want to do this - because if you're unsure, it's likely to bite you hard at some point. Speak to as many people you can who work in the industry and jump on forums like this as well. If you decide it's what you want then you'll need to look at getting a summer internship in 2016. So all the things that have been mentioned here need to be done. Speak to as many people as you can, and sign up for some on-line financial modelling classes. Follow the deals being done right now - it'll help in any interview. You also need a plan B for the summer - just in case IB doesn't work. IBs take the majority of full-time analysts from their summer class the year before, so if you don't get a summer role it's highly unlikely any top-up full time recruiting will pick you up. If this is the case then a 1-year masters is a possibility - at a target institution - but you need to have some good intern work experience on your CV anyway. You could apply again for a summer slot at the beginning of your final year, as you'll be intending to spend a year doing a masters. Think of this as a long game - but before starting to play, figure out whether it's a game you're going to like...

 

[djjamal1]

consider the CFA

 

[ilovefrankee1]

Hi,

I am currently a student at the University of Kent and have just finished my first year in International Business with Econometrics and received a first. I was recommended by my lecturer to look into a potential career in the investment banking industry but from my research it looks like my chances may have already been dashed just because of the university I have gone to.

I was wondering if anyone firstly had some advice on how to apply to the internships and make yourself comparable with the 'target' university candidates?

Also I have heard lots about the interviews and candidates from large investment banks but what about the mid-range banks, what are their employment opportunities like?

Lastly it would be great to learn more about all the varied job roles within the banks, and equally how competitive they are to become a part of. It seems M&A is very popular, does this make something like structuring less competitive?

Many thanks.

Generally speaking, Kent is certainly considered outside the so-called 'target' unis. This should not be a deterrent to pursuing for the standard recruiting processes. However, you may need to take a strong networking angle - and I don't mean firing off cold emails to any MD's email address you can get your hands on.

I would start by bumping up to a paid subscription on LinkedIn; then filter for people in London investment banking roles who have graduated from Kent. I would avoid newly hired analysts and exclude anyone above the level of VP. Put together a brief, considered email introducing yourself and explaining your motivations - and go from there.