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I'm finishing up my senior year in college and I really would like to get into investment banking. I've been applying to places through my college career center but I don't feel that is enough, which is why I am writing this post. The field seems so competitive and finding an internship or job-offer has been pretty damn difficult.
I guess I'm just wondering if anyone knows any websites where I can improve my knowledge about the field or if anyone knows maybe a few smaller boutique banks where I can apply? I'm guessing that there has to be a few bankers in p5s and some of you probably can give me a better sense of how I should go about entering this field, because it truly is something I would like to get into. Please feel free to drop any wisdom you have about this field, as I would really like to analyze the best way for me to get an i-banking position.
EDIT: more info about me: i'm a 4th year Econ major at UC Berkeley with a 3.6gpa and i've taken investments/financial accounting/regression analysis courses -
Bear Sterns is hiring
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ur a senior at berkeley with that gpa and are struggling to find even an internship, damn the economy blows. have u talked to professors that might know of something?
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professors have been helpful with giving me resources and describing to me more about the field, but the actual act of finding a job is the place where I am coming up short.
hahah im kinda scared since i still don't know what i am doing after i graduate =/ -
it's nearly impossible to get one of these types of jobs at the big firms without being from one of the Ivy Leagues/Stanford/Duke. If they don't recruit at your school, you need to stand out a ton at your school for them to even look at you. that's not just taking a few classes and posting a good GPA in them either fwiw
as for boutique firms, idk much really but you probably could google them and find out. a lot of the recruitment process already happened though I believe -
Yeah, I'm pretty bummed I missed all of the fall recruiting, but I had this "i-banking revelation" over winter break, so unfortunately i'm a bit behind everyone else in the recruiting process (I was looking into consulting before).
Originally Posted by Leet8s
You missed interviews for full-time jobs, that was in the fall (I went through recruiting as a senior this year too).
Let me ask you, do you know why you want to do i-banking?
And lol @ that diagram, I know it is going to be hell for me, but I really like pushing my body to it's limits. Finance (investments in particular) have definitely been my favorite courses at Berkeley, so I am ready to sacrifice a few of my "younger years" in life in hopes of a secure future. -
Sick mini brag.
Other schools do well too. Besides business schools which you left out, Carnegie Mellon, Cal Tech, MIT, Rice, UTexas, UMich, Georgetown and other top non-ivy league non-stanford, non-DUKE schools do well too.
But again, anyone with intelligence should do trading -
def true, I think all of those can compete for sure with the first few kids, but the further from top-5 status your school is, the more and more you have to be like a superstar at your school to have a chance imo. MIT/CalTech and places like that are very elite and you probably have a leg up on most schools actually. And yeah I was thinking undergrad, not business schools obv. I know kids at Duke with 3.9 GPAs who've been rejected from multiple banks.
Originally Posted by Leet8s
Sick mini brag.
Other schools do well too. Besides business schools which you left out, Carnegie Mellon, Cal Tech, MIT, Rice, UTexas, UMich, Georgetown and other top non-ivy league non-stanford, non-DUKE schools do well too.
But again, anyone with intelligence should do trading
I'm not going into ibanking or anything, just have a lot of friends who are/were in the process -
Look at Jefferies & Co. They had a pretty decent couple of years and have taken market share from many of the major banks. They have a large headquarters in San Fran. If you went to UC Berkeley, look into your Alumni network and find people who are listed as working at investment banks and contact them directly.
What do you want to do at an investment bank? People throw the term investment banking around pretty loosely, it can mean a whole range of things. -
If you answer that question with that answer in an interview they would show you to the door.
Originally Posted by rohanzsta
Yeah, I'm pretty bummed I missed all of the fall recruiting, but I had this "i-banking revelation" over winter break, so unfortunately i'm a bit behind everyone else in the recruiting process (I was looking into consulting before).
And lol @ that diagram, I know it is going to be hell for me, but I really like pushing my body to it's limits. Finance (investments in particular) have definitely been my favorite courses at Berkeley, so I am ready to sacrifice a few of my "younger years" in life in hopes of a secure future. -
Also look at credit suisse. They are hiring out of cycle right now because they over fired analysts during the downturn and now have a lot of deal flow.
What does trading mean?
Equity, credit, derivatives?
Prop trading is going to be heavily limited at the major investment banks once the financial legislation passes and I don't think you have to be highly intelligent to flow trade or make markets. -
because in i-banking you are a mindless drone and you have no intelligible input.
in trading you are making decisions which will directly win or lose money and it requires a lot more thought, strategy, understanding of markets, etc. if you want to be involved in the markets do trading -
Go Bears!
Sorry to say, you completely missed the window this past fall, buddy. Each of the major banks hires maybe 5-10 people from Cal in that interview session (that was in 07, not sure if thats true today). There is no "make-up" and you'll likely have to wait till this fall to recruit. I would recommend doing an internship in the meanwhile and/or extra classes during the summer sessions. (Start with CS because I know of a second year analyst @ the SF office who is turning down his offer to go work elsewhere, hopefully my company.)
oh and lol @ fenway's diss of public institutions. so far off base. thanks for the chuckle tho. -
A little off track, but I'm also a finance major and I've been interested in trading. Can anyone tell me what the job chain is like in that certain area (for instance what would you typically start as and eventually what you would get promoted too, etc.) Also, who here has a job that's related to finance and actually enjoy it? What is your position and what do you do?
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I see you've already posted for help on the 2p2 business/investing boards. Listen to what they have to say.
I'm an Economics major and I'm guessing we're in a similar boat. Ibanking is ridiculously tough to get into (personally it's not my thing even if it were easy to get into), so best of luck to you. Hopefully you understand how hard you have to work, not in the future, but now. Actually not even now. You should be working hard months ago.
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