<p>Don't mind all the doom and gloom, by the time you graduate from college investment banks, most of which are now units of commercial banks, will probably be back to business as normal.</p>
<p>For ibanking don't even consider getting an MBA right after college. You will need to go to a very highly rated MBA program, and unless you start and run a highly successful business before or during college, no top program will accept you. The top B schools expect their applicants to have about 4 years of post college work experience.</p>
<p>There is no best career option, it will really depend on your strengths and what you can bring to the table. The majority of finance jobs are in corporations of all sizes. </p>
<p>You will really want to study more than just finance in college because the banks are not looking for finance experts as they like to do their own training. They are looking for very smart critical thinkers and most hires were not finance majors in college.</p>
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Goldman's Viniar said bank deposits could only be used to fund the business of the banking business. It cannot be used to support the "capital markets businesses" that Goldman focuses on, he said, speaking in a separate conference call.
<p>Wall Street will evolve and rise within a decade like a pheonix from the ashes. I am not kidding when I say that there are MANY seriously intelligent people on Wall Street whose job is basically to figure out ways to skirt SEC and Fed. regulations. </p>
<p>In that same vein, the SEC is partially to blame for the meltdown because they recently eliminated the "uptick rule." The uptick rule said that if you short a stock, you can't cash out until it swings back a bit. Eliminating that rule opened the door for private investors leveraged through the teeth (we're talking billions here) to short and short and short companies until their heart was content. To anyone who knows the ins-and-outs of Wall Street, the reason eliminating this rule was such a horrendous idea should be obvious.</p>
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You will need to go to a very highly rated MBA program, and unless you start and run a highly successful business before or during college, no top program will accept you
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<p>Well, I wouldn't go quite that far. I think we can all agree that HBS is probably a 'top' program, yet there are people there who came in right out of undergrad and who have very limited work experience. They certainly never started their own company. </p>
<p>Want an example? Consider Christopher Wilson-Byrne. He's came in right after undergrad at BC, with no significant full-time work experience whatsoever. Now, to be fair, he was an All-American college diver, but that notwithstanding, he's never held a true full-time job in his life.</p>
<p>The catch is that there are obviously very few of these people. I believe that people fresh out of undergrad comprise perhaps 1% of the entering class at HBS. So I clearly wouldn't hold my breath waiting for it to happen. Still, it does happen.</p>
<p>Sakky, there had to have been something very different in his background to make HBS think he would get the most out of the program after college and that employers would be interested in him after graduation. Simply, very few kids at HYP could pass that test.</p>
<p>Not impossible. HBS used to let student in directly from undergraduate, check out the SEC chief bio.</p>
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[quote]
After graduating from Saint Thomas Academy in Mendota Heights, Minnesota in 1970, Cox earned his B.A. at the University of Southern California in 1973, following an accelerated three-year course.</p>
<p>In 1977 he earned both an M.B.A. from Harvard Business School and a J.D. from Harvard Law School, where he was an Editor of the Harvard Law Review.