<p>how hard is it to get in? Do people outside of this program get into top investment banks?</p>
<p>i need to know this as well</p>
<p>it is pretty difficult supposedly top 10-20% of business students have the opportunity of being accepted into the workshop. I read somewhere on this forum that last year 60 students were accepted into the IB workshop. What makes it even harder is, if your not in the honors program and lack some valuable contacts.
But IF you get in you will most likely get jobs at bulge bracket firms.
I would say SAT would have to be in the 1400 range and ACT in the 30s and 3.8+GPA to have a reasonable chance</p>
<p>Actually, my son talked via email to the gentleman running the program,David Haberle, who told him that they tried to get people who weren't in the Mitte honors program (via direct admit) to also be admitted. </p>
<p>He seemed to imply that IU didn't want to limit this program only to those who were top in their high school programs (thus getting direct admit status), but that it should be open to those who had done well since getting to Indiana University. (A view I strongly concur with, I might add). </p>
<p>However, you will need to take the key business courses early, since they look at this prior to making a decision--and it does factor in. For example, both A201 and A202 accounting courses should be completed by no later than the first semester of your sophomore year as should both of the Econ courses, the Public Speaking course, and both required Math courses. Additionally, you need to apply by September of the sophomore year (deadline was September 15th this year, and then you go through an interview and review process which finishes around November 15th). Showing leadership in school activities is also important--especially during the freshman year--as are grades--and work experience. Knowing how to use spreadsheets quickly is key (K201 course should be taken early in freshman year) Lastly, you have to have every single prerequisite complete in time to take I-Core in your Fall Semester of junior year, or you don't qualify. </p>
<p>The IBW program actually starts during the 13 weeks of summer before classes begin in your junior year--meaning you have to not be doing an internship in the summer.</p>
<p>As pointed out above, only 60 or so get accepted each year. Placement last year was 100% to investment banks and 96% the previous year (I understand that one person decided to go into a non-banking area and one person got accepted to a top masters' program).</p>
<p>Good luck.</p>
<p>P.S. My son decided not to apply to the program since he wasn't going to have all his I-core prereqs completed in time, and he decided that I-banking was not necessarily the area he wanted to go into after all. </p>
<p>Here's the link to the program information:</p>
<p><a href="http://kelley.iu.edu/ibw/%5B/url%5D">http://kelley.iu.edu/ibw/</a></p>
<p>One other thing--since, as stated above--getting in to the direct admit status is not an absolute requirement, needing a 1400 SAT (or 30+ ACT) is also not a requirement. However, if you are not a direct admit, you may still want to retake the SATs as a freshman at IUB to show that you are improving your verbal/math expertise.</p>
<p>P.S. When my own son was considering applying to the program, he decided to retake the SAT and improved his SAT CR/M score (based on a 1600 SAT) from 1260 up to 1350. He felt he needed to do this to show he would be competitive with other applicants to the program.</p>
<p>if you don't get into IBW, how hard is it to get into banking. I'm really worried... How hard is it to go to a decent Middle Market making 70+ a yr including bonuses?</p>
<p>I'm not sure you are on the right forum for this question.</p>
<p>Look, I'm sure a lot of people want to make a lot of money right out of school, but it doesn't work like that. Generally, those at the "top of the heap" get offered the best jobs, and the rest work for a bit less.</p>
<p>IU's average business grads get offers right in the $42 to 45 thousand range--which is pretty good compared to the national average. To get into I-banking takes more experience, training, and networking connections than the average graduate nationally or at IU. This is why most people who go into this field right out of school get into it from schools like the Ivies, NYU's finance program, or places like Stanford and Duke. These students have excelled to get into school, and quite often come from families with connections or with money. The fact that Indiana places as many as they do in this field is entirely due to the strong I-banking program. Once you get past that, not too many get into the field without having gone through the program. (I think last year there were something like 19 others that got into the field besides those in the program--and I guarantee you they weren't all making $70K).</p>
<p>Besides, you need to know that I-banking pays more because of the extremely long hours. I can hear you saying "so what?" now, but let's see how you feel about this after you've been through a few semesters of college where the workload is very tough and starts burning students out, but that's not even half of what you'll get in terms of time in I-banking. </p>
<p>Burnout in the I-banking field is brutal--over 65% per year. And keep in mind that those in the field either move up or out--much like in the Big 4 accounting firms (although there the turnover is slightly less). Lastly, nobody gets offered a $70K salary. The salary offered will be in the $40 K range--the $70 K comes from the fact that they pay year-end bonuses many years that make up the difference. But this is an iffy thing. Some years you get $50 K bonuses, some years $30 K, some years you get a pink slip saying "don't let the door hit you on the way out". Depends upon the economy. Those who do survive can make major, major dollars. (Top analysts easily make from $500,000 to over $10 million per year).</p>
<p>If you are sure this is for you, then go for it--just be realistic about what it takes and don't expect things to be easy. As Randy Pausch (a professor at CMU) reminds his students: "If you are going to be a successful person, be thankful for the walls you'll face along the way. Because the walls are there to keep out those who don't want it as much as you do."</p>
<p>Well, I guess I'm a bit off on my numbers.</p>
<p>I see where the placement from IUB into Investment Banking has increased tremendously from what it had been a few years ago.</p>
<p>According to the latest Kelley UCSO data, there are now 29% going into I-banking, with the average salary being $59,000 and the average signing bonus being $9,000. Thus, I guess getting that $70,000 right out of college and not waiting for the end-of-years bonuses is possible after all.</p>
<p>Please excuse me while I wipe the egg off of my face.</p>