<p>Im currently a senior in high school and i want to go into a career in investment banking. Based on my GPA and my sat scores, the best undergraduate school i can get into is University of Michigan, maybe if im really lucky, Vanderbilt, but its a stretch. When i pitched the idea to my parents, they said that it would be almost impossible to break into I-banking from either of those schools because neither of them are Ivy league or top 15.</p>
<p>My idea was that i would graduate from U Mich and find a job as an analyst, while working for my MBA from a good business school. Once i got my MBA, i would hopefully get promoted to associate and i would try to work my way up from there.</p>
<p>My question is, assuming that i end up going to U of Michigan, how realistic is this plan. How difficult will it be to find a job as an analyst with a BA from U Mich, and how difficult will it be to get promoted to associate, even after getting an MBA from a highly ranked business school. Is there anything i could do during my undergrad years to increase my chances of breaking into this field and reaching at least associate, maybe higher if possible?</p>
<p>Also, i know I-bankers arnt getting paid as much as they used to because of the recession. How much can i expect to get paid as an analyst with a BA from U Mich, and how much can i expect as an associate with an MBA from a good business school.</p>
<p>Well can you apply to Michigans Business school from high school? I might be wrong but i was under the impression that you apply to U of Mich undergrad, get your BA from there, and then apply to their business school, Ross, among any other business schools you may want to apply to.</p>
<p>UMich Ross is an UNDERGRADUATE business school. You could’ve applied from high school as well as apply WHILE you’re in college before your BA. You should research this by doing a quick google search. There are also many other undergraduate business schools such as Wharton, Haas, Stern… etc. if you’re interested.</p>
<p>to be honest, im not sure if i have the grades for the U Michigan-Ross. If i were to attend a slightly less competitive school such as Tufts or University or Rochester, and then went a very competitive business school for my MBA such as wharton, what would be my chances of skipping the position of analyst and becoming an associate from the beginning?</p>
<p>Also, would interning at a large bank during my 4 years of undergrad significantly increase my chances of landing a position as an associate?</p>
<p>U Mich Ross is strong for U Grad, and you will definitely have some IB opportunities graduating from there. That said, you will not land an associate role out of U grad regardless of your internship experience. Your internship experience will only help you to land a FT ANALYST role, NOT associate. </p>
<p>The path is U Grad —> Analyst —> either MBA or direct promotion —> Associate —> senior banker. This assume that you run up the chain in IB and don’t move on to something else. </p>
<p>While bonuses are no longer the boom of several years ago, they are still solid and the starting salaries are good as well - with 1st years beginning, generally, with 70k or a bit more, plus a sign on bonus of 10k or so (then the year end bonus). </p>
<p>Finally, if you go to B school, you will definitely go into IB as an associate, NOT analyst - see the above path - if you go to B school, you merely skip the analyst step. That said, you are not going to be getting into a strong B school straight out of undergrad (it is INCREDIBLY rare). Therefore, if you don’t go into IB as an analyst out of u grad, you will need to work somewhere else FT for a few years after u grad, then apply to B school and then pursue IB as an associate, if you are still interested.</p>
<p>PM me if you have any other questions and good luck.</p>