Investment Banking?

theflyingcow · #1 07-17-2007, 05:20 PM

Hey 2+2,

So I recently started considering finding a job as an investment banker as an alternative to Chem grad school for future plans after college. However, I haven't been too exposed to the financial world as I didn't take a single economics class in college (nor do I plan to). You may be thinking "why the hell go into i-banking then?" Truth be told, quite a few of my friends who are very bright and hard working have gone into i-banking and though they say it's really cumbersome and tiring, they're making tons of money, enjoy the challenge, and think that I'd be cut out for it and would have a good time doing it. I'm currently a rising senior whose a Chem + Math major and was wondering if anyone in the 2+2 community has gone through the process and could recommend some books that could guide someone like me who has totally been unexposed to the job-hunting process. I know it's way early in the summer but the sooner I start, the faster I can catch up to those ec. majors who've been hunting these jobs since like freshman year. Thanks in advance.

nichtsnutz · #2 07-17-2007, 05:32 PM

Vault's Guide to Investment Banking

I don't know this particular one but I've read a couple of the Vault Guides and they ewre pretty good.

emon87 · #3 07-17-2007, 06:46 PM

In general, people that work at bulge bracket banks work as an intern in the summer before senior year (and often have internships for other firms after sophomore year). The recruiting for BB banks in done in the fall and finishes in early winter.

What school do you go to and what is your GPA?

edtost · #4 07-17-2007, 08:18 PM

ibankingoasis.com

the posters are awful people and generally boring, but their forums are actually really good for finding this kind of info.

cata1yst · #5 07-17-2007, 10:54 PM

I hope you have a good network.

I also hope you like working 80+ hour weeks.

Burn. Out.

theflyingcow · #6 07-18-2007, 01:08 AM

[ QUOTE ]
What school do you go to and what is your GPA?

[/ QUOTE ]

Harvard University, and my GPA is just under 3.5 (I think 3.48-3.49 as it is)

Edit: I know a lot of investment banking firms have a minimum GPA cutoff, usually at 3.5, where candidates with GPAs below this point don't even have their resumes reviewed by recruiters due to the sheer number of people applying. Is this going to be a big problem as first semester grades won't be in until late January / early Feb.

emon87 · #7 07-18-2007, 01:54 AM

[ QUOTE ]
[ QUOTE ]
What school do you go to and what is your GPA?

[/ QUOTE ]

Harvard University, and my GPA is just under 3.5 (I think 3.48-3.49 as it is)

Edit: I know a lot of investment banking firms have a minimum GPA cutoff, usually at 3.5, where candidates with GPAs below this point don't even have their resumes reviewed by recruiters due to the sheer number of people applying. Is this going to be a big problem as first semester grades won't be in until late January / early Feb.

[/ QUOTE ]

Go to all the ass kissing events in the fall. You'll probably have a hard time landing a job at a bulge bracket (although the Harvard stamp will help a lot) but you should be able to get a job as an investment banker at a middle market firm.

theflyingcow · #8 07-18-2007, 11:29 AM

[ QUOTE ]
Go to all the ass kissing events in the fall. You'll probably have a hard time landing a job at a bulge bracket (although the Harvard stamp will help a lot) but you should be able to get a job as an investment banker at a middle market firm.

[/ QUOTE ]

Hey thanks for your input. I think the part about having a hard time landing a job in a BB as opposed to other firms is pretty analogous to applying to colleges in a sense (i.e. it's true in general for pretty much everyone). Just a quick question though, as to what do you think is the biggest hurdle to getting hired at a BB in my case? This might be an inane question as I realize it depends on a large number of factors. My impression is that in most cases it would probably be getting your foot in the door for an interview since you'd have to write a killer resume and survive the GPA cutoff. I'm guessing it would be especially difficult for me with no background in economics? Then again, I've also heard that firms in general love people who demonstrate strong quantitative skills, which I think I have. Having math as a secondary concentration helps too I suppose. Thoughts?

Korch · #9 07-18-2007, 12:20 PM

You wrote: Just a quick question though, as to what do you think is the biggest hurdle to getting hired at a BB in my case?

Relative to other candidates, you're in decent shape. Your GPA isn't steller, but you've got the brand. Your non-business background will most likely not be an issue so long as you have some level of industry knowledge (understand what IBers do, be able to ask questions in interviews, etc.). Your biggest hurdle is simply that getting these jobs is hard for everyone.

TheVault.com is a good resource for you and they publish guides for job seekers geared at people in your situation.

emon87 · #10 07-18-2007, 12:40 PM

[ QUOTE ]
[ QUOTE ]
Go to all the ass kissing events in the fall. You'll probably have a hard time landing a job at a bulge bracket (although the Harvard stamp will help a lot) but you should be able to get a job as an investment banker at a middle market firm.

[/ QUOTE ]

Hey thanks for your input. I think the part about having a hard time landing a job in a BB as opposed to other firms is pretty analogous to applying to colleges in a sense (i.e. it's true in general for pretty much everyone). Just a quick question though, as to what do you think is the biggest hurdle to getting hired at a BB in my case? This might be an inane question as I realize it depends on a large number of factors. My impression is that in most cases it would probably be getting your foot in the door for an interview since you'd have to write a killer resume and survive the GPA cutoff. I'm guessing it would be especially difficult for me with no background in economics? Then again, I've also heard that firms in general love people who demonstrate strong quantitative skills, which I think I have. Having math as a secondary concentration helps too I suppose. Thoughts?

[/ QUOTE ]

Yea you don't need to major in econ/finance/etc to get a job as an I-banker. That really doesn't matter.

Your biggest hurdle will be getting the interviews, and explaining why you have no work experience. You better have a really good answer as to why and why it doesnt matter in your case.