<p>jnpn, </p>
<p>most of the people here say they want to do IB, but the reality is that not many will. that's just life. and who cares that goldman is the 4th most popular employer at ross. that's only 9 people anyway out of a class of 300-400.</p>
<p>and Wharton is 500 per class, not 2400 (that's the entire school)</p>
<p>Guys let's keep in mind that Goldman Sachs is not the only employer of IB out there... JPM, MS, Merill, Bear Stearns, Bank of America, Lehman Brothers, Blackstone group are just a few of the best... and there's more where that came from and if you factor in the Middle Market banks, there's plenty of employment for everyone (at least people who have a solid college performance from a target school)...</p>
<p>Fact of the matter is, however, exactly how many people got into Goldman from Mich? Not all ibanking jobs are equal. There is actually a pretty substantial difference between working at the bulge brackets (GS, MS, and take your pick for two as they fluctuate). Heck, some (make that many) would argue there is a pretty big difference between GS/MS and the others. Further still there is a very big difference between working at the top groups vs. others. Not everyone works for PE banking at goldman, or LA healthcare at UBS regardless of the school you graduate. </p>
<p>This is why I think he is right in saying that not everyone who is interested in banking will be able to do so especially when you are talking about the best positions out there. </p>
<p>And again, regardless of whether you like it or not, bank recruiting is elitist. The guys that select from non-target schools are much more strict than if the pool is from targets. I would read this thread: <a href="http://www.ibankingoasis.com/node/2517%5B/url%5D">http://www.ibankingoasis.com/node/2517</a>
It gets worse when you want to break buyside (PE, HF, top prop firms) out of undergrad. They wouldn't have bothered with even seeing the resume in the first place (I have actually seen this happen). So, all those people who happen to want banking but aren't at targets won't get it. That btw includes all those schools that nitpickers identify as semi-targets. So yea, your anecdote about grads going to work at goldman (which btw doesn't mean they are bankers...most people at goldman aren't front office bankers, traders, salesmen or asset managers) isn't the norm. </p>
<p>So yea, it is a completely different level of competition when you want to get these jobs. Just view it this way: on CC, every april there is a boatload of posts about how top students not getting into top 10-15 colleges. Now imagine the guys that made that cut competing against each other. That would be the level of competition you face.</p>
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jnpn,</p>
<p>most of the people here say they want to do IB, but the reality is that not many will. that's just life. and who cares that goldman is the 4th most popular employer at ross. that's only 9 people anyway out of a class of 300-400.
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<p>I don't think every student at Ross wants to go in to investment banking and applied to goldman sachs. My point was that invesment banking isn't impossible to break in to. 38.8% of Ross grads go in to the industry (I don't know what percent of the graduating class tried) and it's not even an ubertarget like Harvard or Wharton.</p>
<p>Everyone at Wharton who does Finance wants GS or Blackstone...</p>
<p>Yeah, I don't think its as impossible as some make it seem, esp if you go to a target school. if tons of ross grads (as said, almost 40%) go into ibanking, it can't be that difficult. Esp. since there are many (like me) who have no interest in ibanking, 40% is a lot.</p>
<p>None of you kids are getting in investment banking.</p>
<p>Why not? It doesn't seem that difficult to get into.</p>
<p>Good one kid, one of the hardest jobs to get on the planet isn't difficult to get into.</p>
<p>I'm probably older than you son. </p>
<p>Unless all these business schools are liing it doesn't appear that difficult at all. I'm looking at a brochure right now. Top 20 MBA program, 10% of all graduates going into Investment Banking. Only 40% of all graduates are going into finance at all.</p>
<p>VectorWega whats your job experience?</p>
<p>Well, I'm not looking to go Ibanking so it's quite irrelevant. I've made a lot of money in real estate and that's what I'll stick to when I decide to come out of retirement.</p>
<p>Top 20 MBA itself, is roughly 650-700+ GMAT, respectable undergrad GPA, and solid work experience (4 years on average I believe). Now after you've achieved that, 10% of those get into IBanking?</p>
<p>Most of you that are interested in Investment Banking will not make it so just give up and stop discussing it. More importantly, spend that time that you have used dreaming about banking, into a career that you will actually enjoy and excel at.</p>
<p>The point of me asking your work experience was because if you think Investment Banking isn't difficult to get into from your point of view, you must have some amazing credentials. You must have gotten jobs that were signficantly harder to get than investment banking (which hardly exist, consulting?)to claim that it is "not difficult" correct?</p>
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Now after you've achieved that, 10% of those get into IBanking?
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<p>At this school, 10% go into IB, but only 40% go into finance at all. So a 25% rate is probably more accurate but you have to consider that many of those in finance probably don't want to go IB simply due to the long hours etc.</p>
<p>Talking to students from another school (actually, not even a top 50 MBA program) they told me that many of their fellow students wanted to go IB when they started their MBA but by the time they've really learned more about IB most change their mind (BTW, that school also sends people into IB despite not being a top 50 program).</p>
<p>I'm sure it is quite difficult to get into IB from undergrad. However, if you really desire to be IB then you can always fall back on an MBA and have what appears to be a very good chance at going IB. (especially if u come from a finance background which should give you an edge once in business school).</p>
<p>BTW, this thread is not simply about IB'ing. It's about any position that Goldman Sachs has. This would include IT, analyst, and advisor roles (and probably many other roles also). They also probably receive a ton of resumes from people that are not good fits at all.</p>
<p>Dawgie-- 40% from Ross (almost half of all Ross students don't seek jobs in finance). This is for undergrad. There are some schools that have an even easier time breaking in to the industry.</p>
<p>Yea I'll agree a few schools give you a much better chance, but realistically I'm trying to do most of these kids a favor.</p>