<p>Well I was also accepted to the Mathematical Methods in the Social Sciences program. I'm not sure if you're familiar with the program at all, but it basically gives me a degree in MMSS and Economics. You have to have at least a year in calculus in high school to even be in the program so when I start next fall I won't have to start in Calc I. So I'll end up going through multivariable, differential equations, linear algebra, etc. I also have to take a statistics course each quarter my second year. Even though you can pick any social science to major in, it's heavily economics-based so it should benefit me greatly. I have talked to quite a few people in the program, and they said it is THE thing to do at Northwestern if you want to be in investment banking because they recognize the exclusiveness of the program (only 20 people are accepted each year) and they make special presentations to MMSS students. So I'm hoping that being in the program will help me greatly. </p>
<p>I am also taking German courses at a University this year so hopefully those two semesters will transfer to NU and I hopefully I should be well-versed in German by the time I graduate from Northwestern.</p>
<p>And I talked to an admissions officer a while back, and he said there really isn't any way possible to take classes through Kellogg (though the MMSS program might offer that opportunity). I suppose if I made enough noise I could get into one :)</p>
<p>Alexandre. I got accepted into the college at the University of Pennsylvania. I applied there, instead of Wharton, because I am not sure if I want to go into medicine or ibanking. Can you tell my how much ibankers who work at top firms make? Also, do you know if it is possible to do med extra currics and finance extra currics at the same time? Ahh! I wish I could decide!</p>
<p>First-year i-bankers from a top MBA program can expect to make upwards of $150,000 their first year...some firms pay as much as $300,000 for rookies. Pay increases dramatically after that (you can start pulling in close to a million a year after 5 years), but expect to work very long and pressured hours.</p>
<p>Jpps1 is correct. I would also point out that I-banking is very much an 'up-or-out' career path. If you can stick around for 5+ years, you will indeed make a lot of money. The problem is that it is extremely difficult to stick around for that long, and not just because of the workload. The real problem is that it's not really up to you. If you are not one of the top performers, you will basically be asked to leave. Sticking around for 5+ years means that you are one of the top performers by definition, because if you weren't, then you would not have been allowed to stick around for that long.</p>
<p>Are those figures for a certain type of bankers, like traders, corporate finance, or M&A, or is that kind of money common amongst all i-banking groups?</p>
<p>jpps1 and sakky: Do you know what type of starting salary one would get coming directly out of college (provided it is a top school, like say Yale)? I know top MBA schools pretty much require work experience before applying...so I'm seriously considering some type of I-Banking after college, if that is possible. Thanks!</p>
<p>Well the average SALARY for i-bankers coming out of undergraduate is 55k. However you can get good year-end bonuses (however they aren't as much as they used to be) and that can bump you up 20k+.</p>
<p>Alexandre, as an IB wife for the past 10 years, I've been to many functions where I have seen a number of the employees. I have seen very, very few African Americans. Way too few to say that being URM is helpful at all. Few females also. Few Asians on the trading floor unless they are from the international branches. It still looks very old school.</p>
<p>So are you saying that as an African American male, i have a slim chance at making it in the Investment Banking world. I have been looking at all the top firms sites, and diversity seems to be a major factor among them all. I know all the starting salaries and things of that nature. However does anyone know the type of money you can have after say, 10...15 years?</p>
<p>you will be fine-- there are programs (SEO, etc.) that push minorities into banking. Just up keep your GPA up.</p>
<p>Also, how in the world do you guys know you want to go into IB? I am graduating in a few months and will be working in investment banking, but I did not know coming out of high school what I wanted to do after college. Do you guys even know what investment banking IS?</p>
<p>There are many opportunities out there so don't think IB is the only option. Most people cannot even get IN the industry (even from top schools). The interview process is rigorous. </p>
<p>Also, don't worry about only pursuing activities that would look good on a resume -- have fun and pursue extracurrics that you sincerely enjoy. Your passion will come through in the interview and you will be in better shape ;)</p>