Where do most investment bankers go to college?
Master's in Finance: MIT, Princeton (more of a quant program), UT Austin, UVA, Vanderbilt, WashU, Notre Dame, USC, Claremont-McKenna, and maybe a few others (best to look at employment reports here). MBA: The M7 schools, Yale, Stern, Haas, Ross, Tuck, Fuqua, Cornell (Johnson), and possibly a few others in the top ~20.
- University of Pennsylvania.
- Georgetown University.
- Harvard University.
- Columbia University.
- New York University.
- Cornell University.
- University of Notre Dame.
- University of Michigan.
College Degrees
Major investment banks recruit from the best colleges and universities in the world. In the U.S., new investment bankers are often chosen from Ivy League schools.
To become an investment banker, you need a minimum of a bachelor's degree. Common majors are finance, business, economics, and accounting.
University of Pennsylvania is no surprise and they are very clearly the overall best school for finance placement. UPenn dominates investment banking recruiting and even sends dozens of people directly into great private equity firms and hedge funds every year.
- The University of Pennsylvania is one of the top schools for Goldman Sachs, Citigroup (C), and Credit Suisse (CS). ...
- New York University (NYU) is right with the University of Pennsylvania in terms of where investment banks most frequently recruit new employees.
Yes, GPA matters! Bulge bracket banks and almost all other investment banks will look at your GPA when applying for a job and you should include it in your resume. Typically banks screen resumes based on GPA and will often remove anyone below 3.5.
It's true – top-tier investment banks recruit heavily from ivy league schools and other target schools. Big names such as Goldman Sachs, Morgan Stanley, JP Morgan visit campuses to drum up interest in their internship programs and full-time entry-level positions.
Target School Summary
Target schools are those that are particularly well-regarded by investment banks and tend to produce a high number of successful candidates who go on to work in the industry. There are several factors that contribute to a school being considered a target school for investment banking.
New York. New York is widely considered to be the financial capital of the world, making it one of the best cities for a career in finance. Home to some of the world's largest banks, insurance companies and credit rating agencies, New York is a leading city with a red-hot investment banking and securities market.
Is UCLA a target school for investment banking?
Overall, UCLA places reasonably well into investment banking and earns a designation as a semi-target school. Our investment banking target school list is a complete rank of 60 schools and analyzed >60k LinkedIn profiles of professionals who worked in investment banking between 2008 and 2023.
Investment banking is extremely competitive with way more applicants than available positions each year. You will often be up against students from Ivy League universities, with a high GPAs and multiple internships under their belts.
Investment banking is one of Wall Street's most coveted roles. It is also one of the hardest. It is no surprise that the average day in an investment banker's life is long and stressful. Those who manage to survive the adjustment period often go on to have long and financially rewarding careers.
What Are the Big 4 Investment Banks? The big four are JPMorgan, Goldman Sachs, Citigroup, and Morgan Stanley. Some other global giants are treading right on their heels, including Deutsche Bank, Barclays, Credit Suisse, and UBS. There are at least 100 highly-regarded global investment banks.
Jamie Dimon - CEO of JPMorgan Chase, is considered one of the most powerful investment bankers in the world. Lloyd Blankfein - Former CEO of Goldman Sachs, known for his leadership during the 2008 financial crisis.
These important cities employ a large number of financial professionals and are home to stock exchanges and corporate headquarters for investment banks. The top global financial cities are New York City, London, Singapore, Hong Kong, and San Francisco, as determined by the GFCI 34 rankings.
Goldman Sachs doesn't exclusively hire people with finance degrees from top schools. While a finance degree and education from a prestigious institution can certainly be advantageous, the company believes in a diverse and inclusive workforce that encompasses a wide range of backgrounds and experiences.
Goldman Sachs does not give a specific minimum GPA requirement, though some sources suggest a GPA of at least 3.6 is preferred. Additionally, you may need to show relevant coursework and hard skills for certain programs.
Alright, you want to get a job at Goldman Sachs. You're up against some tough competition. The firm gets 300 applicants per open position, although the internship is mercifully easier to get into, with an acceptance rate of 1.27%. It's easier to get into Oxford, Harvard, or the Navy Seals.
Investment bankers have a compensation model that includes a base salary and all or some additional forms of compensation, including bonuses, commissions and profit-sharing. It's common for an investment banker's bonus to surpass their base pay, and in profitable times, they may earn over half a million dollars a year.
Does JP Morgan look at GPA?
Candidates must demonstrate academic strength – a minimum 3.2 GPA for juniors and a minimum 3.5 GPA for freshmen and sophomores, strong teamwork, communication skills and a high energy level.
Becoming an investment banker requires several years of higher education in addition to licensure. It also requires strong mathematical and analytical capabilities, which may be challenging for some people.
Goldman Sachs is widely known as the most prestigious investment bank on Wall Street. The bank's interns receive phenomenal training, hands-on experience, and the opportunity to rotate across many groups and desks.
That said, investment banking is a highly competitive field. Because the pay is so high and the job is so prestigious, particularly in cities such as New York, applicants far outnumber job openings every year. Having the right skills and being able to display them is paramount for getting a foot in the door.
| Base | Total | |
|---|---|---|
| Consulting | 175,000 | 235,000 |
| Hedge Funds | 175,000 | 392,500 |
| Private Equity | 175,000 | 380,000 |
| Investment Banking | 175,000 | 350,000 |
