<p>I want to major in finance and work at a bank, specifically a big IB like Morgan Stanley, Barclays, etc. I'm good at math and got a 2000 + on the SAT and am trying to weigh the advantages and disadvantages of Tech and UGA. I only want to look at the jobs and salaries in this thread and not the social life since UGA wins hands down. From what I've gathered anecdotally, Terry places its top graduates at big banks, but for some reason GT seems to be higher on most ranking lists. Is this because GT is better for low to mid-range jobs? I've also heard that GT is good at getting you a job once you graduate, but do many of their graduates enter the banking industry? If I am part of the upper-echelon of either school, where would I have more opportunity to work at an IB?</p>
<p>You’re lucky to live in a state where you have options of fantastic finance programs, assuming you are an in-state student. Both schools are excellent choices. Congratulations. I would say Georgia may be better for finance simply because the program is more established. Interdisciplinary studies is important for networking and alumni relations. You want to get connected. My daughter has clerked for both Georgia senators whom she met through UGA’s business school. She was only a sophomore. It may prove useful to have Georgia law, business, accounting, and public affairs relations at your disposal. I think Georgia also does more research in those fields. Both names carry plenty of weight with big banks. Both schools have an excellent reputation. </p>
<p>Here are some rankings to consider:
[Rankings</a> | Terry College of Business | University of Georgia](<a href=“http://www.terry.uga.edu/news/rankings/]Rankings”>http://www.terry.uga.edu/news/rankings/)</p>
<p>If you choose UGA, I would highly recommend the honors program. All of my kids have participated in honors, and the opportunities they offer you are incredible. Highly recommend.</p>
<p>I don’t know anything about the banking industry. But my husband works for a large company in downtown Atlanta and they hire a lot of Georgia Tech business/finance grads. So perhaps the ranking is higher because of other types of businesses that hire GT grads?</p>
<p>MD1785, do you know hard it is to get into the honors program? I have a 2010 SAT but from what I saw it looks like there is a gaping disparity between the regular and honors program. I would definitely want to be a part of it if I could (especially since they give you a stipend).</p>
<p>It is difficult to get into honors, but it is possible for you to enter the honors program while at UGA. You need to maintain a 3.7 GPA to be eligible.</p>
<p>Op - are you a junior? My DS is going to GT but he got auto admitted to UGA’s honors. If you can bring your SAT up some I think you would have a good chance.</p>
<p>Unfortunately, I’m a senior, so what I’ve got is what I’ve got.</p>
<p>Georgia Tech does send some top students into IB and trading. Tech has typically been a non-target school for IB, but that has been changing pretty rapidly recently. I would currently consider Tech a “semi-target”. UGA is a non-target, but I bet they send a few students into IB with places like SunTrust. For Tech, SunTrust recruits pretty heavily, Goldman Sachs came to campus this year, and a number of boutique investment banking firms come as well. JP Morgan has also hired a good number of Tech grads. Tech has an investment banking club that has been successful in placing students at top banks, but there is an application process, so not any student can join. For trading careers, we get a very large number of boutique firms recruiting, and I know people who have recently received full-time offers for trading at Goldman Sachs.</p>
<p>If you are more interested in the investment management side, Tech also has the nation’s largest student run investment fund. They currently have around $850,000 under management. [Georgia</a> Tech Student Foundation](<a href=“http://www.gtsf.gatech.edu/]Georgia”>http://www.gtsf.gatech.edu/)</p>
<p>I should note that only the top students really have an opportunity to go into IB or trading from Tech. Many of those who have gone to top banks were President’s Scholars or otherwise exceptional students and leaders, and the vast majority of them did not major in Business. Most major in engineering, and then get a certificate in finance and/or accounting. I would encourage you to take a fair number of accounting classes (particularly ACCT 2101, MGT 4026, and MGT 4028), make sure your GPA is very high, and become a leader on campus. Networking is also huge. It is never too early to start networking, and that is your best chance of breaking into IB or trading from Tech, which is why the investment banking club is such a great asset for students. IB interview questions are very accounting heavy, and the finance questions you get will typically be conceptual, rather than technical, so don’t get into the mindset that accounting is somehow inferior to finance. </p>
<p>I can’t speak to Terry, but I would be surprised if they are managing to attract the same attention from IB as Tech is. With that said, with proper networking, high grades, and a strong leadership record, a top student should be able to break into IB from any number of non-target schools.</p>
<p>Also, please at least consider careers outside of IB. I get the impression you are only really pursuing this path because it pays a lot of money. It is true that an IB or trading analyst at a bulge bracket firm can make $120,000 right out of school, but a good chunk of that comes in the form of a bonus at the end of the year (meaning you actually live on a much smaller salary), you work 80-100 hour weeks, and you typically live in New York, so that money doesn’t go that far. You are essentially getting paid twice what people working in financial analyst positions at Fortune 500 companies do, but working twice the hours, or two full-time jobs. Those same Fortune 500 analysts at places like GE, Capital One, Coca-Cola, etc… have pretty much the same shot at top MBA programs, too. IB is a lifestyle choice, and you need to make sure you are the type of person who thrives in that environment. For a very small minority of people, IB is a dream career. But if you don’t love it, the hours will not be worth it. Also, keep in mind that most people who go into IB do not become crazy rich. It can be a way to quickly enter the upper-middle class, and if you stick with it for a bit, acquire a few million, but only the very top people become super wealthy. Plenty of other careers can put you on a path to a very comfortable lifestyle and a nice retirement without working you to death. Money only goes so far in making you feel accomplished and satisfied. Keep that in mind.</p>
<p>InPursuit, thanks! I am also semi-interested in engineering since I have good technical skills, but wasn’t sure if that would propel me to a career in financial services as well as finance would. Would it be easier to become a manager or trader with a degree in industrial engineering from Tech versus one in finance? Joining the investment banking club would also be a top priority of mine from day one. How would an investment banking career 10 years out at GT differ from one at Wharton (assuming that both can land jobs at the same firm)? Do most graduates who go straight into IB go back to get an MBA or is the opportunity cost often too high?</p>
<p>On another note, let’s assume that my mindset of “money is all that matters changes.” What kind of career opportunities would I have coming from GT if I worked at a Fortune 500 company? </p>
<p>Obviously, these are a lot of “if” and “when” situations, but I like the have all my options laid out.</p>
<p>There are no clear answers to a lot of the questions you asked. Once you graduate, your work experience starts to direct your career more than what you did in school, although college performance obviously sets you up with your first job, and plays a role in MBA admissions. There will also be people who did great in school, and perform less exceptionally in the workforce, and vice-versa. As people get married and have kids, it can also change priorities and career paths. There are far too many variables post-graduation to tell you what a particular first job or a particular degree will mean for the entirety of your career, but I’ll give your questions a go.</p>
<p>Majoring in engineering will not necessarily give you a better shot at IB (especially if you do not maintain a strong GPA), but firms due tend to look very favorably on Tech engineering degrees (rightfully or wrongfully, they have a certain prestige factor that can enhance your application), and a good number of Tech alumni in IB majored in engineering. Plenty of finance and accounting students go into IB as well, and with the new IB club, this has increased in recent years. If you want to go into trading, a quantitative background is certainly preferred, and the engineering,math, and CS majors will likely have an edge.</p>
<p>If you start at the same firm as a Wharton grad after undergrad, you have the exact same career opportunities as that Wharton grad. Once you have a job, it is your performance, not your school, that matters. To be perfectly honest, I think an outstanding GPA and strong leadership record at Tech is as admirable as those from Penn, and our top students don’t seem to have any difficulty getting into places like Harvard and Wharton for their MBAs. We even have alumni on the HBS faculty. </p>
<p>The MBA question will vary from firm to firm, and depending on whether you are in IB or trading. Trading does not place much value in an MBA, and it is not expected to advance. Certain functions within trading do value a masters in quantitative finance and PhDs in math heavy subjects. IB is different. Most IB analysts will go on to get an MBA from a top program after 2-3 years, but if you are a superstar and get immediately promoted to associate, or if are able to land the job you want outside of IB without an MBA, then you obviously would not pursue an MBA. Keep in mind that you can also enter IB post-MBA without having worked in IB pre-MBA. This is actually pretty common.</p>
<p>Working for a F500 can lead to any number of career paths. Top leadership programs like those at Capital One, GE, etc… are very well respected in industry and by top MBA programs. These programs can set you up to rise quickly within a F500, or prepare you for a top MBA program, at which point you can transition into consulting, IB, or return to industry in a higher level role. Companies like Microsoft, Google, Amazon, etc… hire a ton of top MBA students to lead their finance, marketing, operations, and product development groups, and many of these people got their start in analyst roles within large companies. A top MBA combined with consulting of IB experience (either pre or post-MBA), will allow you to move into the corporate strategy and corporate development groups of these companies. Basically, if you don’t want to work 80-100 hour weeks, but still want to set yourself up for a top MBA, and any number of great career paths post-MBA, these are fantastic places to start. They also happen to be easier jobs to get, and Tech is a heavy target school for these programs.</p>
<p>The creme is going to rise to the top no matter where you start. It may take a bit longer, but top performers who are willing to take some risk and market themselves go places, period. There are plenty of top executives out there who started in clerk like positions. My perspective on careers is that you shouldn’t necessarily choose a career for money or prestige, but should choose a career that fits how you want to live. If you are a highly driven person who likes to constantly be challenged, thrives in a fast paced environment, and wants autonomy and the ability to make an impact, you should pursue a very different set of careers than someone who want to work hard, steadily progress, make a good income, but also have the flexibility to focus focus on family and non-career interests on the side. Neither of these types of people is better than the other, and neither path guarantees happiness. I’m not saying you have to jump out of bed and be ecstatic about going to work everyday, but you should live your life in a way that allows you to be satisfied in both your personal and professional lives, whatever that means to you.</p>
<p>@InPursuit: Well said, but don’y snub the BSBA degree. Two of the Goldman Sachs recruits were business majors and I know others who interned at JP Morgan and UBS.</p>
<p>Also, is this IB club you refer to the FMA? They have barely been active all year.</p>
<p>I know nothing about any of this, but if you’re basing your choice on career prospects I can’t imagine why you wouldn’t pick Tech.</p>
<p>@ Propane. I was not aware that I snubbed the BSBA degree. That was certainly not my intention. Could you explain? And I was not referring to the FMA club. The IB club was founded in late 2011 by Mark Gurevich, who is now working as a Trading Analyst for Goldman Sachs, and is not affiliated with FMA.</p>
<p>I searched Mark Gurevich and he is an IE major. Whether I choose finance or IE, I would want to join the IB club and Investments Committee. What is the application process like for both of these clubs/committees?</p>
<p>Investments Committee: You just need to show up and work. They will train you, and the committee is open to anyone. Generally, you will be assigned a sector and you will recommend stock picks within that sector, and move up the ranks as you prove your value. They will recruit as part of the Undergraduate Club Rush in the College of Business in the Fall. [GTSF</a> Investments Committe](<a href=“http://gtsfic.blogspot.com/]GTSF”>http://gtsfic.blogspot.com/)</p>
<p>IB: They generally look for a resume showing strong grades, at least some leadership, and an interest in finance. If you keep your grades up and get involved, you should be fine, but you may not be able to join as a Freshman. They want people whose resume and interviewing skills are already in range to get IB positions. They essentially just help you with the networking.</p>
<p>Does being an athlete help for the IB club?</p>
<p>@InPursuit: I just felt as though you weren’t giving enough credit to BSBA’s. The majority of the IB interns from Tech that I know are BSBA’s. No worries though.</p>
<p>@ GeorgiaIB: No. Being an athlete in and of itself is not particularly meaningful. It’s not a sports club, after all. However, being an NCAA athlete, maintaining a strong GPA, and being involved is extremely impressive, and shows that you can handle pressure and a stressful workload, but there are lots of ways to show this. You certainly want to show that you have some leadership potential and are involved outside of the classroom, but being an athlete is not necessarily any better than founding or leading a club, being elected to SGA, writing for the Technique, etc…</p>
<p>It doesn’t sound like there is an extensive time commitment required for the IB club, but what is it like for the Investments Committee? Does the Investments Committee look good when you’re looking for a job? I feel as though being apart of the IC and IB club are necessary steps to getting a job at a big firm (like Morgan Stanley or GS) if you are going to a “semi-target” school like Tech. Am I correct to assume that?</p>
<p>As an IC sector analyst, I can tell you that participation on the IC is invaluable if you are considering a career in IB or financial services. Keep in mind that you need to pass an exam to become a sector analyst though, as there is a cap on the number of analysts that there can be per sector.</p>