I got accepted into UConn, Bates, and Williams College. I want to go into investment banking. Are any of the three even good for that? They’re all liberal arts colleges I think.
It’ll be easiest to get recruited at Williams.
“They’re all liberal arts colleges I think” = hm, you should be sure.
Uconn or ConnColl? The first is a large public U, the second is a LAC.
Anyway for IB Williams is where it’s at.
Williams for sure.
Investment banking firms appear to favor hiring graduates of the same group of colleges & universities year after year. This creates the impression that there are “feeder schools” into the most prestigious IB firms.
Many undergraduates obtain IB internships by networking; students research firms for graduates of their current college who work at an IB firm & try to establish a relationship that can lead to an interview.
Williams College has more alums employed by elite IB firms than does Bates College.
Williams is nicknamed the “West Point of Wall Street.”
Scott Kapnick, former head of investment banking for Goldman Sachs, the late Vice Chairman of JP Morgan James Lee 75’ and top hedge fund managers, Chase Coleman 97’ and Andreas Ole Halvorsen 86’, all went to Williams.
All signs point to
Williams. But the most important aspect is you. Not everyone is cut out for IB. It’s not only the education but the communication skills and even manners. Make sure that you understand what is needed. IF you can talk to someone in the field esp someone Senior that would be great. They are likely looking for both hard and soft skills. The hard skills are easier to find, the soft ones -things like being a good listener, team player and being humble AND hard-working are tough to find.
Do you mean University of Connecticut or Connecticut College?
Got accepted into both actually, but I was referring to University of a Connecticut.
I guess the question is whether you plan to go on for an MBA. Somewhere along the way you need to develop skills and knowledge in accounting, finance, statistics, and computer science. A liberal arts college - especially Williams - will have lots of economics courses but not the business courses. So unless you plan to go on for an MBA, UConn is the only one of your options that will provide the business courses you’ll need.
UConn and Connecticut College are different schools. Connecticut College is Liberal Arts.
Williams graduates are hired because they’ve shown ability and skill. If their employer needs them to learn something they train them on the job (knowing they’ll be ableto handle it.) That’s why Williams, Harvard, and other top colleges don’t have a business major.
After 2-3 years experience, if they go for an MBA, it’s for networking opportunities.
Any kid breaking into IB has taught himself the business fundamentals because they are tested on it as part of the interview process. So actually, they get hired because they’ve demonstrated business acumen. IB employers don’t just trust they can learn it on the job. Same goes for consulting. Those kids study very hard to get IB (and consulting) offers. The business students have a leg up there.
A number of top IB targets actually do have business schools - NYU, Wharton (the top 2 targets), Michigan, UT, Cornell, UVA. And Rice just threw their hat into the ring.
Finally, the opportunity cost of business school is huge. Folks aren’t just going to network anymore. They’re going for the recruiting opportunities and to pivot in their careers.
With respect to academic foundation, you may want to consider your choices’ economics departments: Economics rankings: US Economics Departments at Liberal Arts Colleges | IDEAS/RePEc.
NOT U Conn.
FWIW, I know Bates kids who have gone into IB.
If that’s your goal for sure, go to Williams, which is pretty much recognized as being the best LAC in the country. You can see why it’s odd that you aren’t sure it’s an LAC.
I noticed on your other thread, also posted yesterday, that you plan to attend Williams and try to transfer to NYU. Please clarify what your intent is here.
Well, there’s basic stuff to know for the interviews but you can learn it (I actually have some of the texts/books and it’s not equivalent to a business degree even outside of Wharton/Stern) or, as they say on College Confidential, self teach it ;-). While it’s not easy, its doable.
There’s real on-the-job training beyond this though.
I agree on the opportunity costs but I wouldn’t say “just” to network; it may be related to what it means to you v. what it means to me, which may be different (I mean it as “encompasses way more than business classes”. )
The broader economics programs at LACs offer courses in topics such as accounting, corporate finance, financial economics, international finance and financial econometrics. Available programs in statistics and computer science may be rigorous and wide in scope.
The top LACs that place decently in IB generally do not have those courses.
The CEO of Goldman Sachs went to Hamilton. Students with an interest in investment banking will not encounter a career ceiling in this field after preparation at a top LAC.