This is good info. Thanks!
As you seem to have valuable insights you want to share, I would encourage you to both provide your experience level and get vetted by the community as an expert with first hand knowledge. That way OP can weigh the value and validity of your statements.
Apples meet oranges, OP is a senior in high school.
Besides this program which is a dedicated alumni network that is fairly typical what were you referencing please?
Not taking anything away from either school just want to make sure OP has accurate context.
Lehigh Wall Street Council and the newly revitalized LU Investment Banking Club (formerly was the Perella Group named after the Lehigh trustee and founder of IB firm Perella Weinberg).
The Investment Banking Club is now recognized by Lehigh University. Appears to be seeking members.
At many universities, it is competitive to become a member of the investment banking club, but the LU Investment Banking Club is actively seeking new members.
I think you need to clarify your post- it is not necessary to be a member of an investment banking club to get a job in investment banking. Your post implies that because Lehigh’s club is not competitive for admissions, it somehow streamlines the process for actually getting a job.
Which is not true. Financial institutions hire who they want to hire. Kids on campus readily trade information and misinformation about “what you need”. And indeed, there are some campuses where the students are VERY aggravated that “he didn’t even join the I-banking club or participate in mock interviews” and yet somehow, their classmate got one of the coveted jobs (the implication being “how dare he point out that our clubs and activities are not a requirement!”)
Your reading too much into my post which was simply a response to a question from another poster. Nevertheless, any additional knowledge about a profession should help students to determine whether or not that is the type of career that they would or would not like to pursue.
I’m curious how students are getting turned on to investment banking, as I’m hearing about other kids with no connections to the industry claim this is what they want to do.
I know of one kid who went straight into IB out of undergrad. He’s at a boutique shop, his dad is in the business and he went to Wharton.
IME, you’re not getting into IB at a large shop without an MBA from a prestigious school, unless you have someone who can call in their chip for you. There are places that will only take you into IB if you went to one of 3 schools - no joke. I had a legit-genius friend at one of the most prestigious companies in IB, some years back get so angry that he couldn’t hire from his under grad alma mater, U of Chicago, b/c it wasn’t on the list of three (he got in via an MBA from Harvard).
I’ve known a few people who wandered into IB while already employed at banks on the front office side. It really depends on how many deals are out there and if they need a particular expertise.
There are many other areas of finance that pay well and should be explored. As for IB, private equity, hedge funds, and the rest of the currently popular money making disciplines, my colleague’s words from early on in my career are worth repeating: there are a lot of bodies on that road.
Be flexible. Talk to a lot of people. Get in front of people who are currently in that role. Good luck.
I expect they hear that IB analysts make a lot of money (but reality is much less on an hourly basis ). I also expect most have no idea what an investment banking analyst actually does.
Because I work with students, I do know plenty become IB analysts. Most get their jobs thru connections…either ones they had coming into undergrad, or ones they created by dedicated and time consuming networking once in college.
Agree. If you think you want IB, do look at other banking roles too…one might be more suited for an equity analyst or credit analyst job, just to take two other examples.
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