Investment banking is a profession that requires more than just an undergraduate degree. To get into the field you require a specific GPA, specific knowledge and a strong network. Many aspiring financial professionals wonder which colleges will benefit them in pursuing their career.
Bulge bracket investment banks typically hire for analyst and associate positions from a small group of universities. These are referred to as “target schools.” These schools are vital for those who want to secure a job in the top investment bank.
The best investment banking schools are those which consistently send a substantial number of grads to the largest investment banks and have impressive numbers of undergrads being placed. Some of these schools have extracurricular activities and student groups that expose students to the business. Examples include the Stern Finance Society or Booth’s famous Finance Curriculum.
This year, Cornell is the best investment banking school followed by MIT, and Columbia. All three are Ivy League institutions that have many years of sending graduates to Wall Street. The University of Texas at Austin is a third school that made the cut. The McCombs School of Business offers the option of a finance track as well as a finance major.
It will be much more difficult to be accepted into an investment bank that is top-of-the-line even if you are not a student at an institution that is a target. The most likely route for students who aren’t targeted is to sign with a middle market regional firm and then gradually move lateral to an incline bracket.
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