Odds at Goldman--very bad

jnpn · June 2007

First of all, it's according to how many people responded to the career survey, so everything is self-reported material. Of course we can assume that a good number out of the 350 graduates did the survey, and most probably answered as accurately as possible. But still, the 40% is not 40% of students but rather 40% of respondents.

This is true. Most grads will respond to the survey (heard it was ~90%), but you have to take the number with a grain of salt.

The real % we need to know is % going into a BB (or top boutique) in NYC as an IB analyst

I was talking about investment banking as a whole in response to Dawgie's statement about investment banking job prospects in general. The answer to this would be useful, but doesn't really pertain to what I was talking about. BB analysts in the IBD division of the NYC offices are not the only investment bankers.

I know a Ross student who graduated in 2004. He went to GS. He said only one other person that year became an analyst in IB in NYC. The rest were non-IB positions and/or not in NYC. I'll try to get more details on that, but that's what he said.

Considering goldman only took four grads in 2004, that is very possible. The others were probably in S&T and/or the Chicago office (god forbid!).

Untilted · June 2007

mckinsey has internships. recruited a couple of kids in my school last year.

Dawgie · June 2007

McKinsey interships are located inside your school? Cool!

redhare317 · June 2007

Ok, the 4 going to GS clears up a lot. I was wondering about that myself. Then it makes sense in that context.

You mention "investment banking as a whole" and that's okay, but when most people say they want investment banking, they're not talking about being an IB analyst at W.Y Campbell & Co. in Detroit or Stout Rissius Ross in Farmington Hills or National City bank, etc. The 40% includes ALL of those types of firms, which is misleading. It doesn't mean 2 out of 5 people will make it big in IB (i.e. BB firm or top boutique) like the statistic makes you want to think. Talk to the juniors and seniors. They'll tell you all about the interviews they couldn't get and the interviews they got but couldn't "pass," for lack of a better word. IB is a tough field, and you're in for some competition for the TOP IB jobs. That's all I was saying.

Dawgie · June 2007

I should clarify, I am talking about getting into BB's.

jnpn · June 2007

Oh then yeah, it's tough for anyone to land a job at a BB in NYC. Not impossible, especially at a target, but definitely tough.

mahras2 · June 2007

None of you kids are getting in investment banking.

Regarding this, however, I will say: Speak for yourself buddy haha.

TheMK99 · June 2007

It's CC. Every ambitious overachiever lurks on the business forum. Our chances of making IB are better than the general public's.

jnpn · June 2007

the real % we need to know is % going into a BB (or top boutique) in NYC as an IB analyst

All I know is 21% of Ross grads go to BBs (73/350).

FBI_34 · July 2007

I currently intern at the The Monitor Group, a top 5 consulting firm, and I can tell you one thing: CONNECTIONS, CONNECTIONS, CONNECTIONS. You absolutely HAVE to have good networking skills if you want to do consulting. I go to NYU CAS, and I was chosen over several ivy league students because of my network.

I assume it's the same for banking.

Dawgie · July 2007

Regarding this, however, I will say: Speak for yourself buddy haha.

Haha you are trying to get into IBanking, have fun failing. I wouldn't even want to get into IBanking even if I got in. For people with no life.

jnpn · July 2007

Haha you are trying to get into IBanking, have fun failing. I wouldn't even want to get into IBanking even if I got in. For people with no life.

Dawgie, it seems you have been on a warpath ever since your profession got bashed in the ibanking vs accounting thread. Ease up buddy.

Dawgie · July 2007

Whatever thread you are talking about, I don't even recall what was being argued there so obviously that's not the reason. I could careless about which career is better. Honestly, that's all subjective to the individual. Truth is 98% of you aren't getting in.

jnpn · July 2007

Truth is 98% of you aren't getting in.

Yeah, if we all went to bentley.

Dawgie · July 2007

jnpn, whats your work experience, leadership positions, and gpa? The few I knew had 3.95+ GPA's, president of investment clubs, 2-3 relevant internships in finance. Either/or, I'm curious what you have going for you.

mahras2 · July 2007

Haha you are trying to get into IBanking, have fun failing. I wouldn't even want to get into IBanking even if I got in. For people with no life.

Actually no, banking is of no interest to me. It would also not be that difficult for me either. Not to mention I already gotten a foot into better places (buyside).

The few I knew had 3.95+ GPA's, president of investment clubs, 2-3 relevant internships in finance. Either/or, I'm curious what you have going for you.

Thats the difference between attending a target and a non-target. If that person went to a target and had even a modicum of social ability, s/he could generate offers. S/he would actually be overqualified for banking...not that that would stop the person for worrying anyhow.

Dawgie · July 2007

Being at a target is one thing, but overqualified? What are your credentials? You seem to have it all.

jnpn · July 2007

Dawgie, I think mahras pretty much summed up my answer with this:

Thats the difference between attending a target and a non-target.

Mahras, did you go straight to PE?

Dawgie · July 2007

Dunno I just wanna know all your credentials, since you guys are overqualified for IBanking just from going to a target school.

jnpn · July 2007

Dunno I just wanna know all your credentials, since you guys are overqualified for IBanking just from going to a target school.

I never said I was overqualified.

Odds at Goldman--very bad

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