<p>Is University of Rochester any good at prehedgefunding or investment banking? Please dont compare it to the uppermost caliber universities like HYPS etc... </p>
<p>And if not, then what else of about that caliber is good at investment banking??</p>
<p>Thanks in advance</p>
<p>Getting into investment banking is largely based on connections. These connections could be in the form of a school's prestige/career center connections, or individual connections. At a school like Rochester, you could certainly get into investment banking (a lot harder nowadays) but it would take more work on your part in terms of networking and actively seeking.</p>
<p>As someone who has hired for ibanks for 25 years, I can tell you the last post is not true. The issue is that the true targets for all ibanks are the very top colleges. I would put Cornell as the easiest school to get into that is a real target school.</p>
<p>As a top investment banker I can tell you that hmom5 is full of crap. Jk</p>
<p>Thanks,
Ive been hearing that i-banking is dead... it there any basis behind that?
and
hmom is that any different between undergrad and grad....? i am currently applying for undergrad</p>
<p>hmom5, I don't see how what you're saying is so much different than what I said.</p>
<p>I said that getting into i-banking would certainly be harder from U of R but it is certainly doable. And yes, getting into banking is largely based on connection whether by connections you have or YOUR SCHOOL has.</p>
<p>You basically said that you should go to a target to get into banking.</p>
<p>If you think that no one from U of R or another similar school ever gets into i-banking, well then, there's no point in debating you and I'll just stop.</p>
<p>Darkstar, I don't see schools as a connection. There are certainly those who get a first banking job through a personal connection, but keeping the job is another story.</p>
<p>Ibanking is not dead but it's certainly an industry in transition and jobs will be limited for a time. Even before the big downturn the industry was tightening up after some very heady years. I highly discourage anyone from chasing banking just for money.</p>
<p>The terminal degree is always most important but note the trend was for ibankers to skip getting an MBA if they were doing well at a bank following undergrad.</p>
<p>ehh don't go to U of Rochester</p>
<p>Citigroup just announced that they are cutting 53,000 jobs on top of the 20,000 jobs they announced cutting last month.</p>
<p>Goldman Sachs announced that its top executives will not be getting bonuses this year and they wil lbe cutting 10,000 jobs</p>
<p>pierre- all of your posts are telling people not to go to x and you dont give any reason whatsoever... basically your posts are meaningless unless you provide reasoning...</p>
<p>hmom, does everyone from an Ivy school who applies to i-banking gets a job? There must be competition within the school, and they have to reject someone, even if they go to Yale, for example.</p>
<p>Considering, traditionally, that 40 percent of every graduating class at Harvard goes into business/finance/banking, there will be enough jobs to go around. For them. ;)</p>
<p>Ibanking will never see its former glory ever again. It is going to regulated by the Gov. :D</p>
<p>Is IB a "BS" job? I saw a book called something like "top 100 BS jobs" and IB was listed. Why do you think the author thought it's BS?</p>
<p>Ibanking jobs have always required high GPAs and unusual accomplishment even for those at target schools. I'd say you would typically need to be in the top quarter of a target for consideration and the top 10% for a good chance. Personality, specific skills and experience and ECs (The Street loves star athletes) also weigh heavily.</p>
<p>Hmmm... People get Associate positions in a number of ways. The most important is getting the summer internship... which is really just pushing the real issue back one year :)</p>
<p>I know someone <em>very</em> well who got a summer internship at GS and, contrary to all our prognosticating in light of the current environment on Wall St., was offered an Associate position two weeks ago. How did this person get the offer? By her own report, this office's Director has a soft spot for competitive college athletes and flagged the application ... so out of 250 applicants for two slots, she got one. She's not brilliant, just smart. At a top 15 school but not in the top 10% of the class by any means, let alone top 1-2% as might be expected. Not a finance major. Not physics, chem or engineering either. Not a rocket scientist!! That's how serendipitous these summer intern hiring decisions can be. She thought it must have been a mistake :) until she learned about the competitive athlete angle.</p>
<p>In my experience, top quant students can get a foot in the door and don't necessarily need the big personalities or the ivy paper. Some of the firms rank Uchicago and swathmore grads very highly.</p>
<p>Can someone explain why firms such as GS recruit heavily at the Ivies? They publicly state that they'd rather hire someone who doesn't have a finance background over a finance major. Do they see finance majors from state schools as slackers, barely go to class, when they do they snooze during lecture, only study when they have to (a night before), party most of the time, etc. Whereas they see a history major from Yale as someone who is highly motivated, and is willing to do the 80-hr a week job for two years without breaking a contract after a month.</p>
<p>The answer is probably based on history which perpetuates itself. Top colleges have owned Wall Street forever and folks on The Street tend to hire from the schools they went to. </p>
<p>It's also because the ivies serve as a screen. Firms know they will find a high consentration of high achievers at the top schools.</p>
<p>The skill set prized by WS is similar to that prized by the ivies: kids who get in have learned to play the game well, they play to win. Also why athletes are so prized.</p>
<p>"I would put Cornell as the easiest school to get into that is a real target school."</p>
<p>hmom5, Georgetown, Michigan and UVa are all target schools and they are less selective than Cornell.</p>