<p>I heard somewhere that Goldman prefers LSA students over Ross students. Considering they took 9 Ross students last year, that is pretty impressive. Does anyone have the actual numbers for LSA?</p>
<p>bs .</p>
<p>Yeah I'd assume it's not true also, but I want to get some numbers before I call bs.</p>
<p>My good friend's sister is now an analyst for Goldman Sachs, has been for the past year or two. Her major? Electrical engineering.</p>
<p>She went to Princeton though.</p>
<p>thats not surprising at all..Ibanks like engineering majors for their quantitative skills..they say an engineering degree plus an MBA is more marketable than any major+ MBA for a banking career</p>
<p>Goldman Sachs, and most major IBanks and Management Consulting firms for that matter, actively recruit at all three of Michigan's main colleges (Engineering, LSA and Ross). Although only Ross publishes numbers, Goldman Sachs generally conducts most of its undergraduate recruitment activities through the college of LSA. That, however, does not mean that they necessarily hire more LSA students than Ross students.</p>
<p>According to iMpact, there are 108 interview slots for GS summer analyst positions. 84 for full-time analysts. This is for BBA's. Since I won't be going through the recruiting process until next year, I don't know if I'm misinterpreting the numbers (sounds exceptionally high if it means that many students will be interviewed). If it is correctly interpreted, that is a lot, especially considering that there are only 350 students per class at Ross. I don't think LSA can compare to that. Other comparable firms (like MS) range from only about 12 to 36 interview slots, depending on position.</p>
<p>While we are on the topic, I don't completely understand the interview bidding process at Ross. Can someone fill me in on how it works?</p>
<p>One adult poster who was a former GS recruiter said they only recruited in LSA in her day. However, as you can see from the stats, GS is one of the top summer interns landing spots for Ross BBAs now.</p>
<p>I'm also curious about the bid process and whether sophomores participate. GS and Citibank, for example, hires sophomores for their intern programs. I know some others wait until junior year. Is a sophomore considered a BBA I?</p>
<p>no, a sophomore is not considered a bba 1.</p>
<p>one of the maing things we were dissatisfied with was the lack of career resources available for sophomores. since so many of us complained last year, i'm pretty sure there will be changes made for the incoming sophomores. a lot of us actually ended up going to the lsa career / internship fair.. haha.</p>
<p>last year, sophomores weren't allowed to bid and get on-campus interviews. at the beginning of the year, their reasoning was because they 'wanted us to focus on grades and not worrying about summer internships until junior year'. that didn't work out too well and during the winter semester, they started offering all these random workshops to make us feel better.</p>
<p>it really didn't, and most of us had to seek summer internships using our own resources. basically, if you knew someone.. or your parents knew someone.. you got a decent internship. if not, you had to settle with what you could get.</p>
<p>^completely agree. Ross OCD completely ignored the sophomore class. The whole "focus on grades" thing doesn't even matter because people will be searching for internships on their own anyway. They might as well make the search easier while we're already at it. Probably from now on, sophomores will be able to utilize OCD resources. Other top business schools, like Stern, are very focused on getting their kids internships. It's not uncommon to find Stern freshmen on Wall Street (of course doing menial tasks but it's still finance-related, etc.) Ross doesn't focus on that area as much.</p>
<p>By the way, even if a company says they recruit sophomores and higher, they still PREFER juniors. So juniors are still priority. That is unless there's a separate program just for sophomores (e.g., JPMorgan's Summer Honors Program). Those, however, are extremely competitive as they take only a handful, so a simple online app (no formal recruiting process, connections, and networking opportunities) won't do. That's what I learned when I had to search for my own internships. You just have to keep track of things better and really make sure they're getting/reading your resumes you submit online.</p>
<p>To answer your question about bidding, you'll probably attend a workshop about it anyway. I don't know too much about it either. The way I heard it works is that people drop resumes by the deadline, and companies choose a "closed list" for interviews by screening the dropped resumes. Depending on the % of interview slots that will be closed, some slots may be open. So you bid, with a given number of "points," for those spots (like getting one of 3 Honus Wagner baseball cards on eBay or something). If you win, you get to interview with them. Some companies have 100% slots closed, which means none will be open for bidding. Others are 25%/50%/75% closed, which means you're in luck if you didn't make it to the closed list.</p>
<p>I don't know if what I said is 100% accurate, but this is what I heard. Maybe some experienced student/alum can clarify.</p>
<p>I'm a sophomore here. Top firms usually recruit from the B-school or the Engineering school and rarely from LSA. Students in both schools have a distinct advantage over LSA students. Most B-school kids go on to either ibanking or accounting in Chicago or New York and the business oriented engineering students go to consulting or Sales and Trading. Bain recruits heavily from the engineering school and each year at least 5 people make it to Goldman from Ross. If your goal is I-banking Ross would be your best bet.</p>
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[quote]
I'm a sophomore here. Top firms usually recruit from the B-school or the Engineering school and rarely from LSA. Students in both schools have a distinct advantage over LSA students. Most B-school kids go on to either ibanking or accounting in Chicago or New York and the business oriented engineering students go to consulting or Sales and Trading. Bain recruits heavily from the engineering school and each year at least 5 people make it to Goldman from Ross. If your goal is I-banking Ross would be your best bet.
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<p>I think thats total BS. </p>
<p>Why do hundreds of students enter LSA and decide to major in Economics if the job opportunities are rare? For positions such as I-Banking, firms recruit not only Business and Engineering majors, but plenty of Libearl Arts majors too.</p>
<p>39% of BBA grads went into I-Banking last year. The top four employers were I-Banks, with Goldman at #4, taking 9 grads.</p>
<p>Pliang, Engineers and BBAs are always hired at a greater rate than LSA students, not just at Michigan, but at any university. Engineering and business students are pre-professional. A far great ratio of them wish to work straight upon graduation. It is not so much the case with LSA majors, many of which go straight to graduate school upon graduation. For example, roughly 800 of the 3,500 or so LSA students go straight to Medical or Law school when they graduate. I'd say just as many go straight into other types of graduate programs, be it Public Policy, Social Work, Dentistry, Pharmacy, PhD programs in traditional fields etc... So out of 3,500 graduating LSA students, roughly 35% go straight to graduate school, as opposed to 10%-15% of BBA/Engineering students. However, for the career-minded LSA students, the opportunities are plentiful. They just need to make the effort.</p>
<p>I am the former GS recruiter who posted earlier. First of all, if you use the phrase "i-banks" you come off as ignorant because no one on Wall Street ever uses that term. </p>
<p>The investment banks are looking for hard-working, creative, enterprising students with superior quantitative and communications skills. Period. The major is not important, although an English major would need to demonstrate the quantitative skills. If more Ross students are successful in landing jobs, it's because they are best able to display that combination of talents.</p>
<p>nervousmommy, i-banks is just a shorthand way of writing on-line. Some very knowledgeable people use this term.
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I am a former Goldman Sachs recruiter. It is a complete mistake to assume that an undergraduate business major is the ticket to an investment banking job. To the contrary, the i-banks look for bright, interesting students who have excellent quantitative, verbal and interpersonal abilities, and who can pick up new skills easily. We hired all majors from political science to history to philosophy, along with business. If anything we had a preference for liberal arts students who had a broader perspective on the world.
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