investment banking from UT's McCombs?

<p>What are the job opportunities for someone who major in finance or accounting from McCombs? Is it possible to break into wall street from UT (maybe with business honors it's more likely)? Otherwise is Houston a good location for investment banking, or would someone be better of going to Chicago?</p>

<p>I actually have the same question; I’m still a senior in high school and I recently got accepted into McCombs. I’m not exactly sure about the direction that I want to look into going, but IB seems like something that may fit my interests. Ideally, finding myself someday on Wall Street would be awesome, but I’m not sure about how realistic that is early on.</p>

<p>When it comes to McCombs, we dominate houston investment banking. A majority of the top tier investment banks recruit here at McCombs for Investment Banking(Evercore NY, Greenhill & Co, Lazard, Goldman Sachs) but they usually only take 1-2 people max over 300 people apply so you really do have to be the best of the best unlike Wharton where they take multiple analysts, but I am not saying its impossible. There are plenty of other Investment Banking postings on the online recruiting system for other cities like DC, Chicago, Milwaukee, etc so there are IB opps in other cities at mccombs</p>

<p>BHP will help a lot as far as getting you interviews because its the BHP name that sort of singles specific candidates out but keep in mind the interview is every man for himself. What’s funny is that this year more regular McCombs BBA students received investment banking offers than BHP students but that could just be from lack of interest from the BHP side. That aside if you guys are seeking Wall Street, its going to be really tough but if you put forth the best preparation for the process it won’t be a problem. </p>

<p>As for other job opps in finance and accounting for OP, there are a plethora of good companies that recruit for finance. As you know we also dominate the Accounting field as we are the #1 school for Accounting so all the Big 4 recruits here from all offices (Denver, Dallas, NYC, Boston, etc) and they take multiple people (10-20). We also have a good amount of Fortune 500 companies that recruit here if you are interested in Corporate Finance or other fields like Asset Management. So if you decide Investment Banking is not your thing you’re still in good hands as far as other options. It all comes down to you working hard, utilizing McCombs great resources, and preparing for the recruitment process hardcore.</p>

<p>If you guys have any more questions about McCombs/UT Austin/Austin please feel free to PM me on the site!</p>

<p>spt.leonidas</p>

<p>I am so sorry for not Pming you, I made this profile so I could PM you specifically, but I need 15 posts in order to do that. </p>

<p>My question for you: I am currently taking a Gap Year, but will be attending Mccombs in the fall of 2014 (deferred my enrollment). For an aspiring banker (my dad’s an MD at Citi, in the PWM division, but I know what I’m getting into), do you have any suggestions in order to get a head start? I’m not in BHP, though I’m going to apply, but even if I don’t get it I’m willing to do ANYTHING to distinguish myself. How would firms respond to a mccombs student cold-calling for internships in the Houston area (freshman and sophmore year)? Any clubs I should join? What about fraternities? </p>

<p>Again, sorry for bombarding you like this, but I would greatly appreciate the advice.</p>

<p>Hi indianboy1995,</p>

<p>I am more than happy to help. Like I said before not being in BHP won’t hurt you at all. A few pieces of advice I can give to aspiring bankers like you is </p>

<p>1) Keep your GPA as high as possible. This means take as much fluff/easy classes your first year at mccombs so you can prepare a cushion for the tougher business classes you will take your second year in mccombs like Accounting. As long as you have a 3.6 or above going into junior year you should be good.</p>

<p>2) Get as much experience as you can before the big junior year internship. You are in a great position since your pops is an MD at Citi. Take advantage of that. Banks like early interest in finance and you have to show that by doing internships during your freshman and sophomore year summers (if it means doing unpaid who cares? Experience trumps money early on). I would recommend pulling your PWM strings with your father and doing pwm your freshman/sophomore summer as an internship to get it on your resume (Who knows maybe your dad can pull some strings and land you a Citi investment banking gig your sophomore year or even your junior year!). Also get as much experience done even during your school semesters. We have a great online resource known as McCombs Job board and many local finance companies/banks post all the time looking for interns during the fall and spring semester. Take advantage of this as well. I can’t stress how important this is enough.</p>

<p>3) Be involved in finance related groups and leadership positions as much as you can. A couple of stellar mccombs organizations known for sending their members to top investment banks are Texas Undergraduate Investment Team (TUIT) and Texas Equity Group (TEG). The process of getting in is competitive since there is an application and interview involved but from what I hear they prepare you well for investment banking. Also when it is time to recruit for internships in banking you will have the opportunity to apply to Investment Banking Association. This is a group run by senior students in the business school who have done internships at bulge bracket banks that help you prepare for interviews and the banking recruiting process. EVERYONE in IBA has gotten an internship at an investment bank if I am not mistaken so make sure to apply when junior year rolls around. Like TUIT and TEG, IBA requires an application and interview. </p>

<p>4) Finally I recommend start networking with people at investment banks early on and show your interest. I was late in the game doing this (I started networking my second year) and I regret not starting earlier. To do this just cold e-mail/cold call all the banks you can and set up an informational interview with them and network with them. These guys you interview can be the turning point in getting the interview or even the job offer!</p>

<p>In regards to your question about cold calling… DEFINITELY DO IT! Cold calling banks in houston (Especially your sophomore year) you should be able to probably land an unpaid (paid if super lucky) with a boutique bank in houston and get some great banking experience on your resume so you can impress the big investment banks your junior year for that coveted internship! Also take advantage of you dad’s network as well. He can probably get you in touch with some people high up in Citi or other financial institutions/firms.</p>

<p>If you have any more questions please let me know</p>

<p>Hey again spt.leonidas,</p>

<p>First off, I wanted to say that I can’t thank you enough for taking the time to help me out. Hopefully, I can do this someday for someone else like you did for me. I only have two more questions.</p>

<p>1) How would the schedule work if I did the MPA program? </p>

<p>2) I assume that if I do it, it would allow an extra year for Ibanking internships, but how would banks view an accounting internship my freshman year?</p>

<p>That is all I have for questions. Thank you so much! I can’t even begin to describe my appreciation!</p>