<p>do you need to go to a top tier school to get internship opportunities at top IBs like goldman sachs and jp morgan</p>
<p>Technically you don’t ‘need’ to, but in reality, yes. A very small number of kids will get into such internships from other schools, but the vast majority of such roles are filled with students from Ivy-League schools, or other top schools (MIT, Stanford, etc.). If you are still in high school and want to work at an investment bank, my advice would be to do everything in your power to get into such a school.</p>
<p>thanks</p>
<p>Another alternative would be to attend a school like NYU, which has lots of tentacles into the New York finance market.</p>
<p>To absolutely maximize your chances, you should probably aim for a “top target”: Harvard, Wharton, Princeton, Yale. It is just so hard to break in from other schools. That being said, getting into GS, JPM, MS, etc. from one of these top targets is far, far from guaranteed.</p>
<p>Honestly, though, if you’re still in high school, I wouldn’t worry about this. I wouldn’t really even think about investment banking until sophomore year of college. It can seem like a glamorous field, but it is brutal, and you shouldn’t at all be thinking about prospective colleges through the lens of getting into investment banking if you don’t even know what working in investment banking is like.</p>
<p>One point of clarification… Penn is a target university; Wharton is a school within Penn, but as many people from the school of arts & sciences and the school of engineering wind up working at top IBs as their Wharton counterparts. </p>
<p>@Terps93 and how exactly did you get that information?</p>
<p>@chrisw - I’ve always been under the impression that it was very difficult for non-Wharton Penn students to get into investment banking. Even if the same number of non-Wharton and Wharton students work on Wall Street, there are so many more non-Wharton students. In percentage terms, Wharton probably “wins” significantly.</p>
<p>Misnomer. While there is a perception that Wharton somehow has more clout than other schools, employers do not see that. Based on last year’s career plans survey, it does look like more Wharton students wind up in financial services than College students (250 vs 120, and an additional 40 from engineering), it is not because College students experienced discrimination. </p>
<p>65% of 2013 College graduates reported having or seeking full time employment, versus 92% of Wharton graduates. Of the 60% of College graduates employed, 34% of them are in finance or consulting, versus 75% of Wharton graduates. This is not surprising, though, since the College has several dozen different departments and offers hundreds of different majors, whereas Wharton offers one major with an option to concentrate in one of (I think) eight areas. College graduates have more varied interests, and that shows in the distribution of employment: while finance and consulting are the two biggest fields that both College and Wharton graduates entered last year, significant numbers of College graduates went into education (14%), communications (10%), technology (8%) and non-profits (8%); the only field Wharton graduates went into in large numbers outside of finance and consulting was marketing (10%).</p>
<p>Now, there are two other measures worth looking at. One is salary - the College’s financial services average last year was $68,413 with a range of $39-110k, and the consulting average was $66,502 with a range of $40-108k; Wharton’s financial services average last year was $70,210, with a range of $38-110k, and the consulting average was $69,990, with a range of $41-100k. Considering the roughly 50% participation rate, the difference in pay is within the margin of error for the survey.</p>
<p>The other measure is the companies hiring. If we can establish that the top three banks are JP Morgan Chase, Goldman Sachs and Morgan Stanley, and that the top three consultancies are Bain, Boston Consulting Group and McKinsey & Co, then let’s just take a look at the number of accepted offers for those six, from each school. For Wharton, the numbers are (in the order listed above) 15, 24, 18, 12, 16 and 12; for the College, the numbers are 14, 9, 9, 11, 7 and 4. </p>
<p>Employers recruiting on campus are required to accept applications from all undergraduates, and they do. In my experience, there are as many opportunities available for College students as for Wharton students in the fields of finance and consulting. Personally, I have no regrets about going to the College rather than Wharton!</p>