<p>"RijeosXeper, what is an i banker? can you provide an accurate definition to that question? i dont know if you can"</p>
<p>actually I do know what Investment banking is. Every company/government agency/etc. needs money to function, they can get this money by investment banks. These banks help raise money for corporations by buying and selling stocks, bonds, mutual funds etc. (any security) in a market, either for themselves or for their clients... it's really not that hard to comprehend.</p>
<p>However, anybody that is serious about a career in something IMO should know that industry from top to bottom and not just do it because "it's cool" or "they pay good" or for the prestige. If you really, truly had an interest in something you'd look that up. It's like me asking "what should I study to be a doctor?", picking a career in medicine just because of prestige and money without really knowing what them doctors do... just my $.02 though</p>
<p>One of my cousins is chief recruitment officer for UBS and he claims that he will only actively pursue students that attend the ives, haas, stern, kellog, and mcintire. However, that does not mean that he will not hire an intelligent student from another school, only that he will not pursue them at their school and such.</p>
<p>RijeosXeper, can you explain to me the pros and cons of Corporate Finance, Mergers and Acquisitions, Public Finance, Sales/Trading and Research as well as which the groups in firms that specialize in each area and offer the highest pay.</p>
<p>also, if possible, explain the different positions at an I bank:</p>
<p>Research Analyst, market analyst, credit analyst, financial analyst, financial planner, investment manager, benefits officer, cash manager, real estate officer, investor relations as well their potential pay.</p>
<p>Leave him alone. He doesn't need to know the ins-and-outs of every faction of the I-banking industry to have an interest. That's like asking somebody who wants to go into premed about organic chemistry. It's ridiculous to think that he'll know everything about I-banking. He has 4 years to decide what career is right for him.</p>
<p>The thing that makes me laugh the most is how some people say you need to attend certain "target" schools (i.e. Ivies, etc.) in order to get your foot in the door at I-Banking firms. According to this Business Week article, Goldman Sachs actively recruits at 75+ schools and has extended entry-level positions to students from 164 different colleges and universities. </p>
<p>The 3 most important characteristics that Goldman looks for? </p>
<p>(1) College GPA
(2) Leadership Skills
(3) Work Experience</p>
<p>we're not saying that you have to go to the target schools (ivies, haas, stern, etc.), but that your chances GREATLY increase by attending one of those schools. Even the link you mentioned explicitly states that there are "firmwide target schools." Yeah, Goldman Sachs employed students from 164 schools. Im damn sure that there is at least 1 stellar student that applies for an i banking job from 164 different schools. However the average (or even above average) student has little chance of landing a job from most of those 164 no-name schools.</p>
<p>Globalist you do know that of those 164 schools, probably no where near half is getting front office jobs? Also probably at least 50 of those schools only get 1 or 2 grads recruited for Goldman a year.... if you want to maximize your chances of IB go to best school you can with best on-campus presence. </p>
<p>futurenyustudent: I like Indiana a lot, but honestly its not a great school for getting into Investment Banking. If you check their resume book, the kids who got into investment banking were mostly 3.8+ with great ECs. If you go to an ivy, you don't need this stuff.</p>
<p>Also, people talking about "oh, it only helps you get interview" - getting an interview is a major step. Apply to an IB from a no name school and you won't hear back for an interview !!!! Getting an interview is a great help !!!</p>
<p>I think what really increases your chances is simply being a stellar student who becomes a leader in the organizations you're involved in, seeks extraordinary work experiences, and is not afraid of taking chances. When I was in college, I was hired to be a summer associate at a company that didn't even recruit at my school, but I reached out them and was hired based on my own merits.</p>
<p>I don't disagree with you that going to a "target" school is helpful, because it is. But I don't want students that don't attend "target" schools to feel like they have no chance at getting into prestigious firms.</p>
<p>Globalist I'm not saying it's not possible. Just if you want to maximize your chances of getting IB or some other prestigious job, there are ways to greatly increase chances.</p>
<p>
[quote]
When I was in college, I was hired to be a summer associate at a company that didn't even recruit at my school, but I reached out them and was hired based on my own merits.
[/quote]
</p>
<p>this is the closest thing to bs i have heard, yet having a profound chance that it is not bs either is astounding. Hard work rarely gives the average college student enough leg room to squezze by recruiters. But at the same time the average college students knowns nothing about this career field. And as it seems your location places NYC as your home, you have a great advantage at schools such as pace and barauch.</p>
<p>Either way, UBS also chaces "certain" students from UCLA. There are always smaller regional banks that dont have structured hiring programs, but are still a load easier to obtain. And then there is the fact that ibanking sucks and there are better things to do with your lives like real estate, ent, commercial real estaet, trading and a whole gamut of other possibilities, street walking being one of them if need be</p>
<p>"RijeosXeper, can you explain to me the pros and cons of Corporate Finance, Mergers and Acquisitions, Public Finance, Sales/Trading and Research as well as which the groups in firms that specialize in each area and offer the highest pay.</p>
<p>also, if possible, explain the different positions at an I bank:</p>
<p>Research Analyst, market analyst, credit analyst, financial analyst, financial planner, investment manager, benefits officer, cash manager, real estate officer, investor relations as well their potential pay.</p>
<h2>thank you in advance"</h2>
<p>hahaha, you're a douche, you want to sound like tough **** but you just sound stupid and arrogant. As JyankeesSS2 said though, If I knew everything related to the area, why would I need to go to school ?. His comparison is the best, would you go to med school if you already knew how to cure people ? no mr. genius. I do know however what that area is related to and have a general idea of what those people do. That's why I want to study that and learn more about it... not because I know that industry completely.</p>
<p>I'm not picking that area because of the pay or the prestige (hence why I can careless how much they make). If I didn't know anything about that area or what it related to and just wanted to study it for prestige and money (like others) then I'd agree with you, but that's obviously not the case... I do know however, what people do in a few of those positions, not all of them though and certainly not their pay.</p>
<p>"you have no idea what an I-banker is, yet you want to be one ?, stop picking careers/majors based on the money. If you had any idea what I-bankers do, you'd know what to major in.</p>
<p>Picking a major/career based on money is by far the worse decision you can ever make. yes, the pay is good, IF you're good at it. If you just pick it based on prestige and/or money, chances are you'll never actually be an i-banker, much less a successful one." - RijeosXeper</p>
<p>i think JyankeesSS2 was refering to this comment you made, no? douche</p>
<p>southpasdena, those positions are offered at top "i banking" firms, no? hence why i want to know the difference between ibanking and positions in an investment bank.</p>
<p>Many recruiters aren't as smitten with the ivies since people skills are a huge component to ibanking and private equity. Not to say that ivy students don't have it, but as a whole, many are more introverted and extremely intelligent with books but maybe not as much socially. Before you flip out, I know this is a gross stereotype but it has some merit when you talk to companies. Bottom line, the college/major will be good for your first job. After that, it comes down to what you've done, people skills, and connections.</p>
<p>financial planner? cash manager? real estate officer? think about what ibanking is and see if these really fit as related job options</p>
<p>And agreed with above poster. consulting and ibanks are broadening their recruiting programs. And with more offices opening in China, Brazil and the middle east, more opps are becoming available</p>
<p>Believe it or not, we like BS Engineering (computer science) and MBA degrees together. Engineers are problem solvers. They can take a problem, come up with a well thought out solution and then execute it. They also understand project management - risk mitigation, cost, etc. All of those qualities/knowledge are necessary in investment banking. I am encouraging my daughter to major in physics/engineering, then get her MBA degree or a graduate Finance degree. Not just for investment banking, but for any business she will want to get into someday. She has received similar advise from other people, many of them are partners at consulting firms and investment banks. Investment banks also hire people with Philosophy or English degrees, but they would have to be very analytical. The most important thing is whether they are motivated.</p>
<p>A decent program in business will teach risk mitigation, cost etc, hell i believe a degree within construction from a school like ASU will be better than both. I have heard that eng degrees are hired for analytical abilities and the credible fact that if they made it through the entire program, they are hard workers, not because their project management skills.</p>