<p>hey, does anybody know how hard it is to get started as an investment banker, whats the best way to get started?, also, is it necessary to go to a business school, and if i do, should it be almost the best?</p>
<p>assuming that by ibanker you are referring to either Sales/trading or corporate finance...</p>
<p>probably the hardest industry to get into. </p>
<p>it isn't necessary to do business school, but if you aren't at a b-school then you should be at an ivy if you want to get in (as say, an econ or mathematics major). </p>
<p>yes, if you go to b-school, or any university for that matter, it should be one of the best. a good way to see if the ibanks like your school is to check the career section of the banks that interest you and see if they recruit at your school. generally this will be limited to 10-20 schools (generally all of the ivy schools, nyu, virginia, berkley, u of chicago etc.) keep in mind that even kids from top b-schools (i.e. stern) sometimes don't get these kinds of internships (which lead to jobs). not only do you have to be highly intelligent, but you have to fit the personality of an ibanker. that being said, sometimes kids from random schools will get in (i met an ibanker at ML who graduated from Fordham in NY as a poly sci major) but that is like winning the lottery--its possible, but highly unlikely.</p>
<p>the best way to prepare yourself is to read up on the industry, do finance internships early, get stellar grades and test scores, go to a top school, and get a lot of connections....all of this will increase your chances, but by no means guarantee you anything. </p>
<p>remember that this arguably the most competitive industry to get into out of college and you are competing with the brightest kids in the world for these positions, so you have to be willing to go at your goal 110 mph and let nothing get in your way.</p>
<p>i see, thanks a lot, and im guessing internships look at things like GPA, ECs, all that kind of stuff? anything else?</p>
<p>so what would you say the personality of an ibanker is?</p>
<p>highly intelligent, highly motivated, work-a-holic that would put his/her job above anything else. enjoys challenges and values recognition. this is my own personal opinion.</p>
<p>not to crap on your thread but i hate it when ignorant people ask these stupid questions</p>
<p>everyone views ibanking as this oh-my-god best job in the world career and its seen as this glorious wall street thing and everyone is so clueless as to what exactly it is... how about instead of asking how hard it is to get into ibanking you go google it yourself and find out what it actually entails</p>
<p>i bet a majority of the people on this forum couldn't tell me what an ibanker does or even what an IPO is... underwriting? forget it... all these ignorant just know ibanking this ibanking that because its seen as some glorious job</p>
<p>edit: yes i am not talking about this thread specifically but there are SO many ibank threads popping up everywhere, not just this forum that if people actually took the time to learn what investment banking is then maybe we could have some deeper discussions about the repo market or hedge funds or something</p>
<p>I would suggest reading books such as Monkey Business, The Accidental Investment Banker, The Financer (Andre Meyer), and Vault guides related to IBanking to understand what it entails. </p>
<p>This: <a href="http://www.wolfyserver.net/MER-IBANK.pdf%5B/url%5D">http://www.wolfyserver.net/MER-IBANK.pdf</a>
will probably give a good overview on ibanking as well as other jobs related in the finance field.</p>
<p>Not trying to advertise, but ibankingoasis.com has a lot of good information on the industry for people just starting out (i.e. first year analysts or prospective bankers).</p>
<p>what is the cut off i-banking g.p.a anyone?-...</p>
<p>and by cut off, I don't mean the traditionally listed 3.0...I mean realistically speaking...what G.P.A would make a recruiter squirm and be like NEVER!...
a 3.2, 3.3, 3.1, 3.6?</p>
<p>probably 3.5</p>
<p>anything below that, you must have a lot of networking or something</p>
<p>however thats only my guess</p>
<p>i think the gpa cut off would depend on the program. It seems logical that they would accept lower gpas from programs that are known for being difficult (i.e. UChicago). but anything below a 3.5 would have to come from one of those really "tough" programs.</p>
<p>is nyu stern considered to be "tough"?</p>
<p>I go a sophomore at Stern, from the upperclassmen I know, 3.4 is the BARE MINIMUM to get any decent junior level internships in finance. You need a 3.6 to have a good shot. That being said, networking and interviewing skills play a HUGE part. I recently got an internship at Blackrock with a 3.43 gpa because my upperclassmen friend put in a good word for me...My friends with 3.8's+ are having trouble getting comparable internships. Sure my Leadership roles and SAT's helped, but I really think it was networking.</p>
<p>I never knew that they consider your SAT scores for internships. Does this apply to all investment banks or just a few ones? I mean the summer analyst internships are for college juniors, so tests that you took years ago don't really reveal that much about your current abilities, does it? Anyway, what do BB firms consider to be good SAT scores? 2200+? 2250+? 2300+ even?</p>
<p>They don't ask for it specifically (Although I recently read an article more and more full time employers are), I just throw it on my resume and they usually bring it up. I kinda meant to say interviewing skills not SAT scores in the previous post</p>
<p>Oh I see, so would you say that a 1500/1600 is worth mentioning?</p>
<p>anything 1500 and over is def worth mentioning</p>
<p>Top banks will ask you to put in your SAT score on their website application . I remember Bear Stearns even asking for any AP or SAT2 scores...</p>
<p>
[quote]
so what would you say the personality of an ibanker is?
[/quote]
Greedy, money-hungry, Machiavellian sharks! I'm joking but its true to an extent...</p>
<p>from the interviews Ive been on they are also extremely arrogant and filled with hubris</p>