Investment Banking

<p>tripperian: the fact that 22 kids out of a class of 1,098 at Kelley got into banking doesn't mean that they recruit there. You can tell that ibanks recruit at places like Wharton where you see more than 1/3 close to half going into banking...</p>

<p>But they do recruit there. Where did u get ur numbers?</p>

<p>the majority UIUC kids who were recruited had GPA's of 3.8 or better.</p>

<p>i got them a few months ago from a career survey directly from kelley (I think class of 2004 or class of 2005 i forget)...search for my earlier post. I believe that the 1098 is only 92% of the class that reported. Still though 22 out of 1100 is nothing and i'd venture to say that most of those got them from applying directly to the firm and having a resume solid enough to land the job not because the banks hunted the students out... while pretty much every ibank directly recruits at schools like wharton, etc. and from experience here at wharton i've seen kids with gpa's under 3.0 (2.7-2.8) landing jobs at major banks. In a recent survey here about 40% went into banking (another 20% to management consulting)...</p>

<p>hey Bern, I think the numbers that everyone's been going crazy over are here <a href="http://kelley.iu.edu/ibw/%5B/url%5D"&gt;http://kelley.iu.edu/ibw/&lt;/a&gt;&lt;/p>

<p>basically it says 42 kids are in there Investment Banking Workshop, 60 kids overall were recruited for analyst positions with banks, 50 of which in Corp. Finance.</p>

<p>But the reality is--</p>

<p>the 42 kids basically have GPAs of 3.8 or higher. The kid witha 3.7 ended up doing PWM.</p>

<p>The number 60 overall for analyst positions means just that, analyst positions. They don't mention whether they're at BB's or mid-market/regional firms.</p>

<p>oh ok still 60 overall out of kelley's class of 1100 = nothing...I'd bet most state universities with decent business programs (Arizona, Arizona State, Ohio State, etc.) have similar #s.</p>

<p>bern700, indiana is a leading public school for ibanking placement, and all the bb's have come to campus recently to recruit, the only problem is that after like 70 or a few other kids are placed per class the talent pool is gone and i hear alot of kids around here aren't interested because they would like to stay home or just are not interested...oh btw bear stearns up coming analyst class is 25% IU students and jpmorgan has only two harvard kids and one penn kid this year while IU has 8, I saw the list of students a few days ago</p>

<p>uhyea: thats interesting seeing as how 5 of my close friends are going to work at JPM M&A next year...and when i interviewed for Bear Stearns they were offering 30 positions for wharton alone...i dont know how many actually took the offers though as people here at penn are kind of snobby about banks and see BS as second-rate.</p>

<p>Indiana is sounding better and better to me all the time.</p>

<p>could it be a bubble? or no.</p>

<p>
[quote]
the majority UIUC kids who were recruited had GPA's of 3.8 or better.

[/quote]
</p>

<p>Where did you read that? I doubt you need a 3.8... 3.5+ would be more like it. UIUC (College of Business) is not as big as Kelley, a lot smaller in fact. I would think you would have a better chance in getting into investment banking/consulting at UIUC than Kelley. Mostly anyone who gets into investment banking at Kelley is in the IB-Workshop and you must have a fantastic resume to get in. I-Banks recruit at UIUC (Business) and even the college of engineering as a whole.</p>

<p>if you read through all the resumes of the people in Investment Banking Workshop in IU, you will see that everyone there has a 3.75+.</p>

<p>You need to realize that the numbers are misleading because from what I saw, only 1 or 2 kids at IU-Kelley ended up getting jobs in Sales&Trading where the real money is. Corporate Finance is easier to get into and there probably is less money in it. I am not talking about M&A though, I am talking about regular corporate finance which really isn't that great and many Ibanks sometimes even have hard time trying to convince some of their incoming analysts to go into corporate finance. Also, the more students you have, the higher the chances are of you being able to put them into I-banking. Its simple math.</p>

<p>Bern, well I saw the list of analysts next year and it only had one penn student, i wouldnt make it up, I have nothing against Penn or Harvard, actually I wish i tried hard enough in high school to go to penn. obviously penn is the best choice for ibanking, but the list for jpm only had one, maybe it was only the M & A group since thats the source i got it from, but still one penn, two harvard and 8 IU thats not bad. Also its interesting that the penn kids arent interested in bear stearns it is a bb and the pay rate is pretty much the same across all the big banks when talking about salary. Also, I saw that the starting salaries of Penn kids goin to IB, and the ranges are much higher than the rest, so I am sure money isnt the reason. And to everyone whos talking about needing a high GPA to get into a bb ibank, thats not out of the ordinary, to get into i banking u will need at least above a 3.5 and most of the time the people hired do have significantly higher gpas then that. Also, the only schools that outplaced IU significantly in ib placement were harvard and wharton, and when talking strictly of business schools it was at the same level give or take a few with the rest of the power house ib placers. In terms of UIUC, they definetly do not place more IB's there strong in accounting, and in terms of the kelley placement, only 30-40ish ppl that were placed were in the workshop, the rest were seminar students and independent searchers. AND EVERYONE WHO GETS INTO A BB HAS TO HAVE A FANTASTIC RESUME, WHETHER ITS GOING TO HARVARD OR WHARTON OR BEING A STAR AT YOUR RESPECTIVE SCHOOL, NO UIUC KID WILL B PLACED ABOVE A KELLEY IF THEY WERENT AT OR ABOVE THEIR LEVEL. I dont know how some people think that they can get into a bb ib w/o a high gpa, unless they go to harvard or wharton, you guys have to be kidding or living in a fantasy world. btw corporate finance includes m & a, look it up. Not everyone wants to go into sales and trading, in fact if you look at the Wharton's, the best business school in the world, placement you will see the majority of people going to ibanking were going to corporate finance positions; debt/eqity capital markets, m & a, and so forth, and the capital markets starting salary is about 10k higher than the sales and trading salary.</p>

<p>uhyea: We thought that it was common knowledge to what you have stated. Also, idk where you got the fact that only Harvard and Wharton place more students into IB than IU-Kelley. That is rediculous. What about Umich Ross, NYU Stern, UT Mccombs, UVA , USC Marshall, Cornell AEM, the other Ivies and MIT!!!!! That fatc is simply untrue. I think you are looking at raw numbers because percentage wise that is impossible. Maybe since they have more people at IU-Kelley, they have more acceptees. Ever think of that?</p>

<p>yes i am looking at the raw number, its a huge school, the percentage would hide the true numbers if you wanted to look at it like that. Don't worry about the credibility of my sources, I have first hand information, probably the best you can get on this topic. Also, though the fact that if it is a big school the probabilty of putting more into IB is true, no bb is going to take students that are unworthy of the positions, simply because of the amount of applicants. I included this "common knowledge" because several posts above have indicated that uva, or uiuc are better at placing bankers than kelley, using the support that the students at their schools seemed to have lower than a 3.75 gpa, and everyone knows or should know, that to get into ibanking you need a phenominal gpa unless you go to a school such as wharton or harvard, where it is obvious the students are brilliant, and uva and uiuc do not fall into this category, so the students who got into bb from their schools mostly had gpa's similar to kelleys.</p>

<p>Yeah but percentages are what matter. Raw Numbers are rediculous when you say 60 out of 1100 got Ibanking jobs. Also, you are giving IU-Kelley way too much credit because there is much more people percentage wise taht get into Ibanking from Umich(ross) and Utexas (Mccombs)</p>

<p>re read my post above I added more</p>

<p>and i never discredited the other schools you mentioned above, i stated the simple fact that was given to me from an extremely credible source that the only schools that SIGNIFICANTLY outplaced IU were harvard and wharton. The rest of the powerhouses such as nyu, umich, ivies and so forth placed about the same as kelley, around 60, which is in no way discrediting the other schools or over crediting kelley. around 60 is not bad at all, so in no way does it discredit any school, I am just stopping people from continuing to say kelley is second rate when placing bankers because the fact is that it is not anymore.</p>

<p>Yeah but your missing the point when I say "60 out of how many."</p>