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3.7 at u mich vs 3.3 at wharton finance

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Replies to: 3.7 at u mich vs 3.3 at wharton finance

  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    Botangers, I graduated from Michigan with a 3.5 GPA and had offers from Goldman Sachs and Lehman Brothers...and I was an Econ major, not affiliated to the B School.

    Ross sends roughly 20% of its Finance majors to JP Morgan, Goldman Sachs and Morgan Stanley and another 20% to other major Investment Banks, like UBS, CS First Boston, Lehman Brothers, Merril Lynch, etc...

    Last year, 150 students graduated with degrees in Finance. Of those, over 120 landed jobs on Wall Street. 20 with JP Morgan, 5 with Goldman Sachs and 5 with Morgran Stanley. Another 5 each to CS First Boston, UBS, Lehman Brothers and Bear Stearns.

    http://www.bus.umich.edu/EmploymentProfile/TopHiringCompanies.htm?StudentType=BBAGrads

    And you claim that just 1 Ross student got a summer internship at Morgan Stanley? I would say it is closer to 10. On average, 10 students intern at Goldman Sachs, another 10 or so at Morgan Stanley.

    http://www.bus.umich.edu/EmploymentProfile/TopHiringCompanies.htm?StudentType=BBAInterns

    I would not be so quick to dismiss Ross. It is second only to Wharton, and up there with Sloan and Stern, in placing undergraduate students into major Investment Banks. And I would say almost as many from the College of Engineering and LSA end up working at major Investment banks. In short, Michigan/Ross are major hunting grounds for top Investment Banks.
  • jpps1jpps1 . Posts: 1,993 Senior Member
    Whoa, what's all this talk about a 3.5 GPA "cutoff"? Damn, I'm going to Chicago next year, and now I'm worried--first I hear that i-banks know that Chicago is tougher (and that a 3.3 there will do the trick), though now you guys are saying at least a 3.5 is needed...
  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    Do not panic, there is no official "cutoff" point. My GPA was actually slightly below 3.5. But it is an unspoken rule that most top IBs and MCs tend to expect GPAs in the 3.5+ range. Obviously, the higher the better.
  • TpeckTpeck - Posts: 590 Member
    Alexandre, what would you say about good old Southern Illinois University Edwardsville's placement at IB's? Hahaha :(.
  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    Tp[eck, if one does well and takes initiative, the sky's the limit...no matter where they go to college.
  • botangersbotangers Registered User Posts: 30 Junior Member
    Alexandre, I agree with you in that UMich sends a lot of interns to the investment banks, but how many of those interns actually end up in IBD? I don't believe the numbers are that high...but of course, maybe I am mistaken...
  • dcfcadcfca Registered User Posts: 1,552 Senior Member
  • TpeckTpeck - Posts: 590 Member
    Alexandre, How would I got about trying to land a job at lets say Goldman, Sachs & Co, since im pretty sure there isn't any IB recruiting at my school.
  • botangersbotangers Registered User Posts: 30 Junior Member
    Ok, so let's take MS for example: the employment profile said that they took 7 interns. The point I'm trying to make is, I doubt all 7 worked in IBD/corporate finance (rather, they probably worked in research, sales&trading, operations, etc.) I spoke with a MS recruiter, and he said that they only take one summer intern from UMich for IBD. He also said that they only take two summer interns from Stern for IBD.

    I go to Stern, and the recruiter was right about Stern--only two people got MS IBD summer offers. Also, to put it in perspective, only one person got into GS IBD this summer. I don't go to Ross, so I can't say for sure, but if it's anything like Stern, I don't think that many people ended up in IBD (but that is not to say that they did not work at that investment bank, I'm just trying to make the point that it wasn't necessarily in corporate finance/IBD/or whatever you want to call it).
  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    Botangers, I am not sure how many of the 7 interns at MS end up being Full time IBD employees at MS. I know that last year, out of 150 or so finance majors at Ross, roughly 30 ended up accepting full time offers from JP Morgan, Morgan Stanley and Goldman Sachs. Another 30 or so ended up at companies like Lehman Borthers, UBS, CS First Boston, Bear Stearns, Merrill Lynch and other major Investment Banks. That's pretty impressive. I am sure Stern and Wharton have equally impressive numbers.
  • whartonalumwhartonalum Registered User Posts: 610 Member
    http://www.vpul.upenn.edu/careerservices/wharton/index.html

    For full-time employment for the class of 2004 at Wharton:

    Goldman: 19
    JPMorgan: 14
    Citigroup: 12
    Morgan Stanley: 11
    UBS: 9
    Lehman: 8
    CSFB: 6
    Deutsche Bank: 5
    Merrill Lynch: 5

    Class of 2005 Internships:

    Citigroup: 22
    Goldman: 12
    BofA: 8
    JP Morgan: 8
    Lehman: 8
    UBS: 8
    Merrill: 7
    Deutsche Bank: 6
    CSFB: 4
    Morgan Stanley: 4
    Bear Stearns: 3
  • 333UM333UM Registered User Posts: 8 New Member
    Do not forget that some of us finance concentrators here at Ross don't want to enter the IB world. I know quite a few students who are not even applying for IB jobs when they probably have a good shot at getting them. In terms of GPA, once you are in the interview it really doesn't matter. No one cares that you have a 4.0 and the next guy has a 3.6. I am going to guess that if a 3.3 Wharton student and 3.7 Ross student are interviewing for the same job, it is not the GPA or the school that will set them apart (assuming they both have the chance to interview).

    -333UM
  • AlexandreAlexandre Registered User Posts: 24,617 Senior Member
    Absolutely true 333UM. As it is, Michigan is a small program (300 per class) compared to Wharton and Stern (500-600 per class). And on top of that, most Wharton and Stern students are intent on going into IB. At Ross, I would say that only 30% of the students think of going into IB. Ross students are very well balannced. There are actually as many students interested in Marketing, manufacturing or Management as there are students interesting in IBanking.

    Thereis no denying that Wharton is the best undergraduate B school in the nation, but Ross is a not too distant second.
  • 333UM333UM Registered User Posts: 8 New Member
    Oh, I certainly agree that Wharton is the best undergrad B-school in the country, there is no denying that. I would agree with you on the 30%, that seems right. I would say about 50% of finance concentrators want to go into IB. I am quite happy here at Ross and I think it is a great place, but there are a number of great B-schools out there.

    -333UM

    Go Blue!
  • whartonalumwhartonalum Registered User Posts: 610 Member
    As an FYI, I only posted the I-banks as a comparison because they were mentioned by Alexandre.

    If you go to the website, you will see the other companies and industries that employ Wharton students.

    Yes, about 60% do go into Finance. Around 40% of the Class of 2004 went into I-banking. But don't forget there's a whole 60% that doesn't do I-banking.

    You do what you want with whatever degree you get. As long as you are happy that's all that matters.
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