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Going to Penn will not automatically get you a banking job.
However, I wouldn't go as far as saying stanford yale harvard princeton are better for banking.
(As a disclaimer, I go to Penn).
This question always gets asked because kids want to strive for the best available option. The targets don't change, but you have to admit that there is a natural tendency for any human to not settle for the 25th school when you can aim for the top 5. I agree, this question is repetitive and annoying. However, everyone wants to defend his or her own school. I do'nt find anything wrong with this.
Regardless, Wharton is not a guarantee. but it is one of the better options, if not the best in my opinion. The only true contender I see is harvard, but not because of its business program (or lack thereof).
Stanford is a target, but not one of the top targets for wall street banking. Sure, san francisco, but the banking scene is much smaller there. This is not because stanford students just can't do banking, but because there is, in general, a lack of interest in it. kids are more into being the next google founders.
Princeton is a target, but in terms of recruiting, it will not beat out Penn. Employment surveys are the most clear data for this. the biggest issue is the lack of a business school to begin with, even at the graduate level.
harvard is pretty much the same with penn. less of the students ,however, take finance/accounting/marketing classes in general, so in terms of sheer numbers, penn probably comes on top.
nevertheless, what students should keep in mind is competition. the kids that want to do banking and know that they will not change their mind and are darn set to do banking/pe/hf/vc will come to penn. you learn a lot, and you may come out on top, but while the reward is great, the journey may be hell : )
Lastly, blackstone, probably a firm every undergrad who is business savvy would die to work for, takes the majority of its analysts from penn and harvard. they do'nt state why, but it just happens.
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