<p>I'm currently an upcoming senior in high school and I'd like to get a jump start on college planning before the year begins. I've been thinking about careers that interest me and currently I am leaning towards Investment Banking as a career. As we all know, there is not an "Investment Banking Degree" so I'd like to ask advice on a good combination for attaining that job title. I'm currently looking at a major in Finance, because as the job market is very competitive I feel like a finance major would allow a wide variety of jobs, and if investment banking isn't working I could always switch over to another field in Finance. Don't get me wrong, I would LOVE to be an investment banker. With the Finance major, I was also thinking about getting an MBA, (executive MBA, the 1.5 yr program, probably from a local college) because I noticed that the people who come out of school with an MBA are more likely to get accepted into an investment banking position, and make more money in the process. Money isn't my sole motivation for going into investment banking, I love advising people and companies and I'm decent at mathematics. Would you say that my current setup would be successful in getting into an investment banking position? And if not, what would you suggest and why?</p>
<p>I’m sure someone can offer more advice but from what I’ve gathered about investment banking it is a very hard field to get into and usually a good foundation for it is to attend a top 10 b-school.</p>
<p>Unlike a pure accounting career track, investment banking pays a lot of attention to the brand name of your school. Do NOT major in “anything”. It’s a myth that majoring in basketweaving at Cambridge will get you into I-banking.</p>
<p>Do, however, worry more about your GPA, internships and getting into the most prestigious school you can more than debating between finance and other business majors. Any analytical money-related major will due.</p>
<p>Economics, finance, or accounting degrees will all be fine as an undergraduate, but “economics” is the most popular name top schools give it due to their tendency to emphasize theory over trades (despite the fact that some are nearly identical to finance/accounting programs).</p>
<p>If in reality you don’t have the bromancing skills to land a high-flying I-banking position, would you enjoy a securities analyst position? That’s where a lot of finance majors end up. </p>
<p>I’m a weirdo and love analyzing securities, but some people are obsessed with, er, “front desk” management positions.</p>
<p>Say I did get a major in Finance with an MBA, what types of positions would be available to me if the investment banking idea didn’t go over well?</p>
<p>The general consensus from people I’ve asked is that you almost never get an MBA straight out of undergrad. You need several years of work experience, and then you apply. Many people have voiced the opinion that an MBA is not worth the money unless it is a top 10 MBA, and you are furthermore even less likely to get into a top 10 MBA without work experience. Furthermore, I have also heard that if you get an MBA straight out of undergrad, but have no prior work experience in IB, you will be at a disadvantage.</p>
<p>You should just focus on getting into the best university/college possible, and then getting the highest GPA possible along with relevant finance internships.</p>
<p>You can’t just be “leaning towards investment banking”. The kids that get gigs at a firm in NYC for IB are top notch Ivy league or equivalent graduates. That or they networked their asses off for 4 years in order to get half the job that their buddies at the Ivy league schools did and then work their way into IB by killing it at everything they do. If you are ready to eat, sleep and breathe your Finance major for the next 4 years, then go for it. If not, you should think about alternatives perhaps in corporate finance. Also, forget the MBA. If this all works out for you, maybe in 10 years when you are a VP at a bulge bracket bank you can go for the MBA because then it will matter.</p>