Located in New York City, NYU students are well positioned to network with top Investment Banking firms.
WHERE GRADS OF TOP FEEDER SCHOOLS GO TO WORK
NYU was the top investment banking feeder school every year between 2012 and 2020, according to WSO annual reports. Harvard University overtook it in the last two years, but NYU finished in a close second.
In the 2022 report, NYU is particularly strong at Goldman Sachs (31 graduates) and Citigroup (13). Harvard also had its highest number of graduates at Goldman (30), but also had strong showings at Morgan Stanley (14) and JP Morgan (17).
In fact, Goldman had the highest number overall of hires than any of the other banks with 497, with 28 graduates from UPenn, 16 from Colombia and 12 from Cornell.
“What’s interesting is that you can go bank by bank and see which schools they really like to recruit from and see where there is an alumni pull,” Curtis says.
TOP FEEDERS AT MID-LEVEL BANKS
WSO’s report also measures the top feeder schools at other notable banks such as Houlihan Lokey, Evercore, Jefferies and RBS.
In this category, University of Pennsylvania comes out on top with 69 graduates across 25 mid-level banks. NYU is close behind with 68, followed by University of Michigan (54), The University of Texas at Austin (45) and Duke University (44). Harvard drops to 10th on this list with 32 graduates.
Diving deeper into the data, you can see which firms target different schools. Houlihan Lokey seems to favor graduates from New York University and the University of Southern California, with 12 grads each in this year’s report. Evercore’s recruiting suggests strong connections to University of Pennsylvania (12), NYU (11), University of Western Ontario (10), and the University of Michigan (10). And Jefferies has 17 grads from Duke University.
ADVICE FOR STUDENTS NOT AT A TOP FEEDER SCHOOL
If your heart is set on a career in investment banking, knowing which schools banks like to target for the bulk of their recruiting and hiring is valuable information. But what about for students already enrolled in a school not on those top feeder lists?
“What I always say is it’s hard to get one of these jobs even at a target school. At a non-target school, it’s a little bit like swimming upstream, but it doesn’t mean you can’t get there,” Curtis says.
“Keep your GPA high, and if you are at a liberal arts college, try to make your background a little stronger in financing with some online courses. More importantly, you just have to make genuine connections with people who work in the industry, even if it’s just a few alumni. Reach out to them, have a phone conversation, follow up with them.”
DON'T MISS: MBA SALARIES & BONUSES AT THE TOP 25 B-SCHOOLS and FOR INVESTMENT BANKERS, PAY SOARS ALONG WITH HOURS
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FAQs
On a volume basis, the four best schools for investment banking placement are:
- University of Pennsylvania.
- New York University.
- University of Michigan.
- The University of Texas at Austin.
Top Feeders (Adjusted for Undergraduate Enrollment)
| Search Search in Rank (Total) Institution #Employed Top Employer (Total) Top Employer (Share) |
|---|
| Rank (Total) | Institution | Top Employer (Total) |
|---|
| 1 | University of Pennsylvania | Goldman Sachs |
| 2 | Harvard University | Goldman Sachs |
| 3 | Columbia University | Goldman Sachs |
27 more rowsTop 25 Feeder School For Bulge Bracket Banks
| Goldman Sachs | Total by % |
|---|
| 1. Harvard University | 30 | 3.50% |
| 2. New York University NYU | 31 | 3.50% |
| 3. University of Pennsylvania | 28 | 3.30% |
| 4. Columbia University | 16 | 2.70% |
6 more rowsFeb 11, 2022
A two-year Master of Business Administration (MBA) in financial management is a sought-after postgraduate degree for investment bankers. You can also do a Master of Science (MS) in finance.
What GPA do investment bankers need? ›
In recent years, the GPA cutoffs for investment banking have been trending higher. Currently, a GPA around 3.7 is often preferred for interviews at large banks, while elite boutiques and bulge bracket firms like Goldman Sachs and Morgan Stanley may look for a GPA of 3.8 or higher.
How old are most investment bankers? ›
The Investment Banking Career Path
| Position Title | Typical Age Range | Base Salary (USD) |
|---|
| Associate | 25-35 | $175-$225K |
| Vice President (VP) | 28-40 | $250-$300K |
| Director / Senior Vice President (SVP) | 32-45 | $300-$350K |
| Managing Director (MD) | 35-50 | $400-$600K |
1 more rowStudents who take IB classes in high school have higher acceptance rates into Ivy League schools, but this doesn't necessarily mean a higher acceptance rate than AP students; it just means that IB students have a higher acceptance rate than the general application pool.
What percent of IB students get into Harvard? ›
The fact of the matter is that Harvard does take IB scores into consideration. If you score well on your IB diploma, then that makes you a very strong applicant for the IB this way. Non-IB applicants in fact, have a 5.1% chance of getting in, whereas this is 12.2% for those who have an IB diploma.
Does Harvard accept IB students? ›
Yes. Applicants may provide self-reported SAT and ACT test scores (including Subject Tests, Advanced Placement, IB, etc.).
What college does JP Morgan hire from the most? ›
However, the big headliner is Manhattan's Baruch College, which has been quietly feeding Wall Street for decades with its finance-heavy curriculum and its close proximity to Wall Street. More Baruch alumni currently work at J.P. Morgan than any other school, according to our research.
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.
Where do top investment banks recruit from? ›
Three of the top schools that investment banks consistently interview and hire from include the University of Pennsylvania, New York University, and the University of Michigan at Ann Arbor. Beyond the top schools, the Ivy League schools, such as Harvard, are also key spots that investment banks look to hire from.
How hard is it to break into investment banking? ›
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.
Is MIT a target school for investment banking? ›
Although MIT's students skew towards more technical fields, MIT still places a handful of graduates into investment banking every year. MIT ranks #39 on our investment banking target school list, qualifying it as a lower semi-target school.
What is the acceptance rate for investment banks? ›
– (2022) 50,000 for Investment Banking division, acceptance rate 0.8%. – (2023) 198,584 applications for graduate program, for 5,496 positions, acceptance rate of 2.9%. – (2023) 11,871 graduates for 298 full time roles, acceptance rate of 2.5%.
What do investment bankers go to school for? ›
Most investment banks prefer degrees in finance, accounting, business administration, and other business disciplines. Undergraduate degree subjects are less influential in the hiring process if a candidate has a master's degree in business administration, finance, or another highly relevant subject.
Is UCLA a target for IB? ›
UCLA has extremely strong placement into the top investment banks. It should come as no surprise that UCLA has particularly strong placement into west coast finance. UCLA has strong elite boutique hiring statistics, with 26% of total investment banking hires going to elite boutiques.
Do most investment bankers have an MBA? ›
Although it is possible to enter the field of investment banking with only a bachelor's degree in a business-related field, you will likely need an MBA or another advanced degree if you want to progress in your career.
