<p>If I attend Northwestern University for Economics, who would be the ideal companies to look at for IB if I want be located in Chicago only. Who are the top Chicago IB firms and how do their salaries compare to NY? Can anyone provide any links to sites showing specific numbers? Thanks!</p>
<p>Howe Barnes, Hovde and KBW are three firms I would look into for M&A work in Chicago. Their FIG groups are pretty top notch. One of HB's MDs is a Northwestern grad.</p>
<p>Do you think there is more opportunity for a University of Chicago grad over a Northwestern grad in Chicago? I see that U of C is ranked better for Economics, do you think they have the edge with Invetsment Banking?</p>
<p>I'm going to UChicago and I really don't think thats the case. If anything, there seems to be a lack of interest to go into banking at the U of Chicago. Either way, if you're thinking about transferring or something, its not worth it.</p>
<p>I attend DePaul university, do you guys think I would have a good chance at getting hired as an analyst for any i-banks?</p>
<p>There is a Goldman Sachs office in Chicago...do they offer analyst/associate positions there as well? Would they be a good place to work in Chicago or would the companies you listed be better, since it's not New York? Additionally, would Goldman Sachs in Chicago recruit a Northwestern or UChicago grad instead of the Ivy grads like in New York?</p>
<p>Anyone know?</p>
<p>Roxbury22,
UChicago is not better than Northwestern in terms of getting IB positions. Although UChicago's economics program is one of the top ranked, it only suggests that the faculty there is doing amazing research. Nobody can really state how much a world-class economics faculty is affecting the undergrads.</p>
<p>"Additionally, would Goldman Sachs in Chicago recruit a Northwestern or UChicago grad instead of the Ivy grads like in New York?"
Could you rephrase this.</p>
<p>Essentially, you have to look at the bigger picture here.
Banks recruit on campus at most top schools and other targets. They ask for a geographic preference and sometimes they recruit for specific offices. The school you go to does not necessarily dictate where you end up as far as location.
For example, I know Stanford students in NYC, Ivy students out West and in Chicago, Chicago students in NYC or West Coast.</p>
<p>At least for U of C, most people go to NYC for banking, as the Chicago offices tend to be smaller, hence less spots. However, some people prefer a smaller office...there are pro's and con's to everything.
I imagine the same is true for Northwestern.</p>
<p>Thanks, I understand now.</p>
<p>"Who are the top Chicago IB firms and how do their salaries compare to NY?"</p>
<p>Most bulge bracket firms have offices in Chicago. JPMorgan, Goldman Sachs, UBS are probably the three biggest, while Lehman and Merrill have smaller offices. There are dozens of boutiques and middle market banks, check WallStreetOasis.com</a> | Finance Professionals and Discussion Forums or google research to find out which ones. </p>
<p>As for salaries, if you work for a bulge bracket then your base salary will be the same ($60k + 10k sign on bonus), but your bonus will probably be significantly lower than NYC. It's really tough to put a range on it, especially since banks are going through bad times these days, but assuming the average NYC range for a BB is 60k to 100k (range might be a little wider), then Chicago is something like 40k to 80k. These are totally rough estimations, so someone correct me if I'm wrong. </p>
<p>Either way, hours in a Chicago IB are usually noticeably better. Cost of living is much cheaper in Chicago as well... its something like to have the same living on 100k salary in chicago, you need to make 130k in NYC. (theres a website that calculates this). So theres a tradeoff between bonus and lifestyle in NYC vs Chicago</p>
<p>"Do you think there is more opportunity for a University of Chicago grad over a Northwestern grad in Chicago?"</p>
<p>Yes, UChi is more highly ranked, but recruiting at both schools is about the same, so neither one gives you an edge. Northwestern is significantly easier than UChicago, so if you want a better undergrad experience, enjoy yourself, and get a higher GPA than someone at UChi, then go to Northwestern. Also, social/communication skills are what really makes or break you for IB-- everyone who gets an interview is already smart, and you dont need to be a rocket scientist to crunch numbers in Excel, so they are just looking for someone they wouldnt mind spending 80-100 hours a week with. In this regard, NU students are generally more sociable and easier to get along with. (Keep in mind I am an NU student, though many of my closest friends go to UChicago)</p>
<p>"I attend DePaul university, do you guys think I would have a good chance at getting hired as an analyst for any i-banks?"</p>
<p>Probably not, at least not at a Bulge Bracket firm.. they only recruit from "target" schools (usually top 20-25 ranked) so many solid schools like DePaul unfortunately get the shaft. You will probably have a better chance at boutique or middle market firms. Otherwise look into equity research companies like Morningstar.</p>
<p>And your last question about GS Chicago was already answered so I'll leave that be. </p>
<p>Hope this helps. Again I'm not in the industry so correct me if I'm wrong. And Roxbury: WallStreetOasis.com</a> | Finance Professionals and Discussion Forums is your friend, go there!</p>
<p>Thanks blazin, quite helpful!!</p>
<p>how well is u of I recruited, relative to NU and Uchicago for the top ibank positions. Do they at least take a few for each bulge bracket that has a office in chicago? or....</p>
<p>^^ I'd like to know this as well.</p>
<p>WHat about IU ?</p>
<p>
</p>
<p>Unfortunately U of I is not recruited from bulge bracket firms at all. I've never heard of a U of I student in an analyst class before. UIUC seems to be more accounting-focused, my understanding is the top students there go to work at a Big 4 accounting firm, I believe "Transaction Advisory Services" (TAS) is the most coveted division to be in at one of those firms. Maybe UIUC kids have a shot at a middle-market bank in Chicago, but even for that chances seem bleak with all the UChi and NU kids desperate for IB jobs.</p>
<p>As for IU (assuming youre talking about the business school) I hear the "i-banking workshop" sets students up nicely for a good IB gig. The IU business school is not as highly recruited as Michigan's or UT-Austin or something, but I think it places decently.</p>
<p>WallStreetOasis.com</a> | Finance Professionals and Discussion Forums is your friend.</p>
<p>Hi, Blazin Hazin,</p>
<p>How is Univ. of Michigan(Ross) comparing with U Chicago and Northwestern for IB?
Also UCLA and USC(Marshall) with them? Thanks.</p>