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Odds at Goldman--very bad

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Replies to: Odds at Goldman--very bad

  • MightyNickMightyNick Registered User Posts: 2,097 Senior Member
    He goes to UMich but I'm not sure if he's in Ross or LSA though.
  • jnpnjnpn Registered User Posts: 787 Member
    Yeah I'm in Ross.
  • MightyNickMightyNick Registered User Posts: 2,097 Senior Member
    Yeah I'm in Ross

    Wow that's awesome dude.
    what school do you go to, jnpn?

    Credit Suisse, JP Morgan, UBS and Goldman Sachs are the top 4 recruiters at UM Ross.
  • VectorWegaVectorWega Registered User Posts: 1,872 Senior Member
    SWA is not getting many apps from Wharton. The fact that so many Wharton students (say top level quality) get dinged is amazing--probably to them too.

    And yet, I know several people previously employed by SWA who now work for Goldman after having gone back for their MBA. Yet none of them are from a top 50 business school. LMAO @ the Wharton comment.
  • the_aspirantthe_aspirant Registered User Posts: 427 Member
    jnpn,

    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.
  • sophomore12sophomore12 Registered User Posts: 1,095 Senior Member
    and Wharton is 500 per class, not 2400 (that's the entire school)
  • sophomore12sophomore12 Registered User Posts: 1,095 Senior Member
    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)...
  • mahras2mahras2 Registered User Posts: 1,977 Senior Member
    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.

    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.

    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: http://www.ibankingoasis.com/node/2517
    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.

    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.
  • jnpnjnpn Registered User Posts: 787 Member
    jnpn,

    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.

    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.
  • sophomore12sophomore12 Registered User Posts: 1,095 Senior Member
    Everyone at Wharton who does Finance wants GS or Blackstone...
  • Niihla10Niihla10 Registered User Posts: 599 Member
    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.
  • DawgieDawgie Registered User Posts: 1,576 Senior Member
    None of you kids are getting in investment banking.
  • VectorWegaVectorWega Registered User Posts: 1,872 Senior Member
    Why not? It doesn't seem that difficult to get into.
  • DawgieDawgie Registered User Posts: 1,576 Senior Member
    Good one kid, one of the hardest jobs to get on the planet isn't difficult to get into.
  • VectorWegaVectorWega Registered User Posts: 1,872 Senior Member
    I'm probably older than you son.

    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.
This discussion has been closed.