<p>Both your prospective majors are business related so it wouldn’t kill your taste to choose either one of them. If your really interested i-banking for a top company, go to Berkeley, and major in econ. Also, it will give a great chance of getting into their MFE grad. option which is extremely competitive and ranked the best in the world. </p>
<p>The issue is, can you get into Berkeley? It isn’t exactly an easy school to transfer into. If your from the Cali community college system (which I’m guessing you are from), then you have a very realistic chance of getting in to Berkeley. When I called their Admissions office over a year ago, they told me that they strongly favor the cali comm. college students over all others.</p>
<p>The same goes with UCLA which has almost the same rep. as Berkeley. If you can’t get into UCLA or Berkeley (you should get into at least one of the two schools), then, go to UCSD and then later on, attend the MFE program at Berkeley. </p>
<p>Either way, it’s a win-win situation. Going to Berkeley will just get you faster to your goal of working for a top i-banking company.</p>
<p>I was going to create a thread for my question, but seeing that there is already an investment banking thread i’ll post it here.
I am going to be a senior in HS this fall and I have been looking into IBanking as a career. I read all of the posts here, but still have some questions:
If I can’t get into a “good” school or a business undergrad school like Stern or Wharton, should I even bother? I’m planning on applying to SUNY Binghamton and Stony Brook, NYU (not Stern though), BostonU, Columbia, and the CUNYs (pulic NYC schools), most of which are OK schools but probably don’t get recruiters. And there is a CUNY that is more business oriented (Baruch) which I’m planning on applying to through the Honors College (i can only choose 1 CUNY for this). Could anybody tell me if this school would be any better than the others? And would my chances at getting a good job as an analyst be ny different because I am a hispanic female? Is investment banking more of a man’s career?</p>
<p>Yes ibankers are very good people and are very important to society like doctors…which justifies their 500k salary…Honestly though, if you are enough of a monkey to go into IB, then you deserve the terrible QOL and hours.</p>
<p>I don’t like that description they try to make it sound like a horrible job w/ is so stupid some people like and for others its just torture like any other job…</p>
<p>br9172 from what I know, there are people who come from regular state schools and get into IBanking. All you have to do is go to the “big name” schools career fairs and hand out your resume to Ibanks recruiting there.</p>
<p>I will be starting college this fall, majoring in business economics at UCLA. Does anyone know about the possibilities of getting a good i-banking job out of UCLA, what i-banks recruit from there, and if business economics is an appropriate major for i-banking?</p>
<p>Did it ever occur to some people here that some I-bankers like their jobs?
What you’ve read about the 80+ hour work weeks applies only to analysts. That lasts two years. Or that time period can even be skipped by getting an MBA instead. After that work hours settle more and more and salary keeps on rising. </p>
<p>I have just a few questions about I-banking that I would really appreciate to be answered:
The next step after associates comes assistant Vice President and vice president. I’ve found that it takes 2-4 years to move up from associate position. My question is: is every associate guaranteed to be promoted to vice president within 5-6 years? Because surely there are more associates then VPs, so every associate cannot become a VP. So how does this work?</p>
<ol>
<li>After getting an MBA, and applying to a leading I-bank, do they care where I finished by Bachelor’s and what my high school marks were?
Because I’m about to apply to a very average local university and plan to get Bachelor’s there. After finishing with a great average I plan to get an MBA in a top US university (Univ of Columbia probably). So when I apply for the job, will they ask howcome I studied at such a crappy univ for first 4 years? or will they only regard the univ where I got the MBA from?
By the way, I am from Canada. In case I dont make it to a US univ, what are my chances of getting an associate position in New York after finishing Masters at University of Toronto?.. if there are chances.</li>
</ol>
<p>If you think after getting an MBA you’re going to be working less than 80 hours a week you’re kidding yourself. Look more into it and you’ll see that you consistently work heavy hours (80+) especially if you want to keep advancing.</p>
<p>Besides that, you usually need a significant amount of work experience to get into the top schools for MBAs.</p>
<p>Recruitment on the west coast consists of Stanford and UC Berkeley only for most investment banking lists I’ve seen. I haven’t seen a top investment bank have UCLA on their recruitment schedules at this point or any other CA school.
That doesn’t stop some people though; it’s simply somewhat harder without firms coming onto campus.</p>
<p>dcfca is quite correct. I was an analyst for 3 years after graduating from college, partly with Lehman Brothers and partly with Goldman Sachs. I worked an average of 80-90 hours/week for all three years. However, I can seldom remember a week when my boss didn’t work longer hours than me, and she was a 15 year veteran of the IBanking industry.</p>
<p>Actually, I believe there is a member on this forum (kcfu or something) who goes to UCLA that mentioned that Goldman Sachs was recruiting on campus. Likewise with McKinsey (I know, that’s management consulting but they’re pretty selective too)</p>
<p>Look on the list of UCLA’s career center and you’ll see most of the companies I mentioned on there including Goldman Sachs. The rest recruit separately at an Investment Banking night separate from the schoolwide career fairs.</p>
<p>the whole point of doing ibanking right out of college is to meet a lot of people and gain job experience so you can get a “good” job in a couple of years, right? ie one with sane hours and more fulfilling content? the insane money (insane compared to what 22 year olds earn out of college) is just a way of getting people to put up with the undesirable parts of the job?</p>
<p>Really? I’ve never actually seen them scheduled on the companies web sites.</p>
<p>Huh. Interesting. Learn something new every day.</p>
<p>newedition, I think some people still like investment banking as a job in and of itself. I personally think it is interesting to be in the midst of much of the world’s finances and operations.</p>