Kid wants to work on Wall Street

[Anonymous]

*the best opportunities

[Anonymous]

Anonymous wrote:

Anonymous wrote:Kids wanting to work Wall Street need to watch out they aren't planning on jobs that bots can do in a few years. Strong people skills will be valued over what quanty skills learned in school.
It's really like planning to go to Hollywood and hang out drinking sodas at Schwab's. Not what it once was.

This is a huge benefit of going to a highly social school like Bucknell where you learn how to network and be part of the "boys club."

Ugh, I can’t imagine aspiring to my child continuing that club.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For all of you arguing over Bucknell, they actually publish an annual comprehensive list of where their most recent class is working or attending graduate school.

Here's the one from 2023:

https://www.bucknell.edu/sites/default/files/file/2024-05/final_post_grad_report_2023.pdf

There are degrees within in the school of liberal arts (economics, etc) that appear to lead to Wall Street jobs and then if you scroll further you'll come to their Business school (Freeman College of Management).

I have no affiliation with Bucknell. My son is a rising senior, we toured this summer and he decided that it's not for him.

PP, thank you for posting this. It is an excellent report. All institutions should publish similar. You can clearly see that 90% of the finance grads are in IB-adjacent fields. These are great positions! Here is an analogy: they made the pro football team, they can’t all be quarterbacks (IB analysts). It seems like most kids and parents think it’s IB Analyst or bust. It’s not. Learn the game, play, and make the team. At 17 you can’t set yourself up to be a Pro Football QB (IB Banking Analyst) or bust.

90% can’t be in IB adjacent fields and the average starting income is $70k, someone is lying here (hint it’s you)

This is pp. Excuse me? I don’t follow, and I’m not lying so let’s break it down.

I’m saying only 10% (that was a SWAG) are in IB; the rest are IB adjacent - so finance but not IB Analyst titles.

Where are you getting avg starting salary of 70k? I’m looking at finance grads and the actual starting salary is $89,656. Count up # of IB analysts in that major: seven out of 34 job titles. That’s actually impressive for a small program. They should be the highest paid (over the $89k average, so it follows all of the other job titles drive down the average). In the College of Arts & Sciences, there is 1 Mathematical Economics grad with an IB title at $96k average in the category (again, he would be making more).

It’s 79k…on the link…that you responded to. The amount of hoops you have to jump through to get this lengthy response is impressive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

This is ridiculous. My DC wants to be an engineer and design weapons for the military with neither parent having a connection to the military. Doesn't really fit under any of your numbers above unless they scribble French poetry on the missiles they want to design.

PP is right, though. They also said “usually”.
Around here though, I can see why kids focus on Wall Street as a way to get rich.

In elite college students minds, the only paths are consulting/ib/doctor/lawyer or poverty. They really need to beef up those career centers a bit

+2 million

Pretty sad statement about the way they are being raised.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Kids wanting to work Wall Street need to watch out they aren't planning on jobs that bots can do in a few years. Strong people skills will be valued over what quanty skills learned in school.
It's really like planning to go to Hollywood and hang out drinking sodas at Schwab's. Not what it once was.

This is a huge benefit of going to a highly social school like Bucknell where you learn how to network and be part of the "boys club."

Ugh, I can’t imagine aspiring to my child continuing that club.

The Bucknell booster watched too many movies about Wall Street. No one is looking to hire kids because they learned to drink and party in Bucknell's famed frat party scene (finally, a T10 category Bucknell can win!). These jobs are difficult, the competition to get them is inrense, the hours are long, and the go-to schools are either the top schools in the country or are in NYC. And these kids also know how to shmooze (funny how that happens at Princeton and Penn too), but can do it without beer on their breath.

[Anonymous]

Anonymous wrote:This thread is mostly one Bucknell student or alum posting over and over, pretending to be different people. "I have no dog in this fight, but BUCKNELL IS THE BEST SCHOOL EVER!"

Look, Bucknell is a fine school, but you're really turning people off with your incessant posting.

Look at the hard data. Here are two analyses of feeder school to Wall Street. Bucknell doesn't appear on either of them. Williams, Amherst, Middlebury, and CMC are semi targets for Wall Street. That's pretty much it in terms of SLACs.

https://www.collegetransitions.com/dataverse/top-feeders-banking

https://www.peakframeworks.com/post/ib-target-schools

Based on this list, particularly scaled for size of school, Washington and Lee, BC, and SMU might be the easiest admits of colleges that actually send people to Wall Street. They aren't easy admits, but easier than Penn.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is mostly one Bucknell student or alum posting over and over, pretending to be different people. "I have no dog in this fight, but BUCKNELL IS THE BEST SCHOOL EVER!"

Look, Bucknell is a fine school, but you're really turning people off with your incessant posting.

Look at the hard data. Here are two analyses of feeder school to Wall Street. Bucknell doesn't appear on either of them. Williams, Amherst, Middlebury, and CMC are semi targets for Wall Street. That's pretty much it in terms of SLACs.

https://www.collegetransitions.com/dataverse/top-feeders-banking

https://www.peakframeworks.com/post/ib-target-schools

Based on this list, particularly scaled for size of school, Washington and Lee, BC, and SMU might be the easiest admits of colleges that actually send people to Wall Street. They aren't easy admits, but easier than Penn.

USC does surprisingly poor

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is mostly one Bucknell student or alum posting over and over, pretending to be different people. "I have no dog in this fight, but BUCKNELL IS THE BEST SCHOOL EVER!"

Look, Bucknell is a fine school, but you're really turning people off with your incessant posting.

Look at the hard data. Here are two analyses of feeder school to Wall Street. Bucknell doesn't appear on either of them. Williams, Amherst, Middlebury, and CMC are semi targets for Wall Street. That's pretty much it in terms of SLACs.

https://www.collegetransitions.com/dataverse/top-feeders-banking

https://www.peakframeworks.com/post/ib-target-schools

Based on this list, particularly scaled for size of school, Washington and Lee, BC, and SMU might be the easiest admits of colleges that actually send people to Wall Street. They aren't easy admits, but easier than Penn.

USC does surprisingly poor

Finally a source to shut up the bucknell head- no here to be found on the list and doesn’t even come up when you search for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is mostly one Bucknell student or alum posting over and over, pretending to be different people. "I have no dog in this fight, but BUCKNELL IS THE BEST SCHOOL EVER!"

Look, Bucknell is a fine school, but you're really turning people off with your incessant posting.

Look at the hard data. Here are two analyses of feeder school to Wall Street. Bucknell doesn't appear on either of them. Williams, Amherst, Middlebury, and CMC are semi targets for Wall Street. That's pretty much it in terms of SLACs.

https://www.collegetransitions.com/dataverse/top-feeders-banking

https://www.peakframeworks.com/post/ib-target-schools

Based on this list, particularly scaled for size of school, Washington and Lee, BC, and SMU might be the easiest admits of colleges that actually send people to Wall Street. They aren't easy admits, but easier than Penn.

SMU is a pretty easy admit. It doesn't have a huge pipeline to The Street, but it does to finance and banking jobs in DFW, of which there are many.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

That’s odd…I actually know several, but they don’t really know what an investment banker does. I wonder if there is some influencer on Tik Tok or something flashing their cash or something.

When I actually explain what the job actually is (for say the first five years)…at least my kid is less interested.

I actually find this entire thread somewhat laughable because investment banking really doesn’t require much intellect…you don’t need to know math above Algebra I and you don’t need to be able to write in complete sentences (it’s all PPTs with bullets)z

Most analyst classes have very high attrition rates…people like the idea of the job but never quite get what the actual job is until they are living it.

This is specifically investment banking…not trading, or P/E or quant/hedge funds.

To be fair, this is by design. Businesses don’t make it at all clear what these different roles are, because it’s not about hiring whose actually best for the job, but who went to your college and seems fun to drink with.

This is untrue, for both IB and MMB. The hiring process is rigorous and lengthy. Multiple rounds, technical questions, case studies, etc. Then you get a job and at least for my kid it’s a three month training program with more case studies and assessments (graded) before you even begin your actual job. Next up is they are all studying for the exams in the next few weeks. And there are kids there from all the schools mentioned plus non-target schools.

You think most kids know what a Fixed Income Analyst or Institutional Equity Derivatives Structuring is?

What is your point?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

That’s odd…I actually know several, but they don’t really know what an investment banker does. I wonder if there is some influencer on Tik Tok or something flashing their cash or something.

When I actually explain what the job actually is (for say the first five years)…at least my kid is less interested.

I actually find this entire thread somewhat laughable because investment banking really doesn’t require much intellect…you don’t need to know math above Algebra I and you don’t need to be able to write in complete sentences (it’s all PPTs with bullets)z

Most analyst classes have very high attrition rates…people like the idea of the job but never quite get what the actual job is until they are living it.

This is specifically investment banking…not trading, or P/E or quant/hedge funds.

To be fair, this is by design. Businesses don’t make it at all clear what these different roles are, because it’s not about hiring whose actually best for the job, but who went to your college and seems fun to drink with.

This is untrue, for both IB and MMB. The hiring process is rigorous and lengthy. Multiple rounds, technical questions, case studies, etc. Then you get a job and at least for my kid it’s a three month training program with more case studies and assessments (graded) before you even begin your actual job. Next up is they are all studying for the exams in the next few weeks. And there are kids there from all the schools mentioned plus non-target schools.

You think most kids know what a Fixed Income Analyst or Institutional Equity Derivatives Structuring is?

What is your point?

I think PP's point is that an IB would have to believe that a Bucknell grad could stay sober long enough to learn the industry. Doesn't seem like a good bet.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

That’s odd…I actually know several, but they don’t really know what an investment banker does. I wonder if there is some influencer on Tik Tok or something flashing their cash or something.

When I actually explain what the job actually is (for say the first five years)…at least my kid is less interested.

I actually find this entire thread somewhat laughable because investment banking really doesn’t require much intellect…you don’t need to know math above Algebra I and you don’t need to be able to write in complete sentences (it’s all PPTs with bullets)z

Most analyst classes have very high attrition rates…people like the idea of the job but never quite get what the actual job is until they are living it.

This is specifically investment banking…not trading, or P/E or quant/hedge funds.

To be fair, this is by design. Businesses don’t make it at all clear what these different roles are, because it’s not about hiring whose actually best for the job, but who went to your college and seems fun to drink with.

This is untrue, for both IB and MMB. The hiring process is rigorous and lengthy. Multiple rounds, technical questions, case studies, etc. Then you get a job and at least for my kid it’s a three month training program with more case studies and assessments (graded) before you even begin your actual job. Next up is they are all studying for the exams in the next few weeks. And there are kids there from all the schools mentioned plus non-target schools.

You think most kids know what a Fixed Income Analyst or Institutional Equity Derivatives Structuring is?

What is your point?

I think PP's point is that an IB would have to believe that a Bucknell grad could stay sober long enough to learn the industry. Doesn't seem like a good bet.

Leaving aside the Bucknell students who don't drink at all or drink sparingly (yes, they exist), most stay plenty sober from Sunday-Thursday, even the ones who throw down hard on the weekends. It's very much a work hard, play hard school. Bucknellians are no stranger to the grind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is mostly one Bucknell student or alum posting over and over, pretending to be different people. "I have no dog in this fight, but BUCKNELL IS THE BEST SCHOOL EVER!"

Look, Bucknell is a fine school, but you're really turning people off with your incessant posting.

Look at the hard data. Here are two analyses of feeder school to Wall Street. Bucknell doesn't appear on either of them. Williams, Amherst, Middlebury, and CMC are semi targets for Wall Street. That's pretty much it in terms of SLACs.

https://www.collegetransitions.com/dataverse/top-feeders-banking

https://www.peakframeworks.com/post/ib-target-schools

Based on this list, particularly scaled for size of school, Washington and Lee, BC, and SMU might be the easiest admits of colleges that actually send people to Wall Street. They aren't easy admits, but easier than Penn.

SMU is a pretty easy admit. It doesn't have a huge pipeline to The Street, but it does to finance and banking jobs in DFW, of which there are many.

Might not be a huge pipeline, but it actually is on the list of colleges that feed to Wall Street firms. Bucknell isn't on the list at all!!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is mostly one Bucknell student or alum posting over and over, pretending to be different people. "I have no dog in this fight, but BUCKNELL IS THE BEST SCHOOL EVER!"

Look, Bucknell is a fine school, but you're really turning people off with your incessant posting.

Look at the hard data. Here are two analyses of feeder school to Wall Street. Bucknell doesn't appear on either of them. Williams, Amherst, Middlebury, and CMC are semi targets for Wall Street. That's pretty much it in terms of SLACs.

https://www.collegetransitions.com/dataverse/top-feeders-banking

https://www.peakframeworks.com/post/ib-target-schools

Based on this list, particularly scaled for size of school, Washington and Lee, BC, and SMU might be the easiest admits of colleges that actually send people to Wall Street. They aren't easy admits, but easier than Penn.

SMU is a pretty easy admit. It doesn't have a huge pipeline to The Street, but it does to finance and banking jobs in DFW, of which there are many.

Might not be a huge pipeline, but it actually is on the list of colleges that feed to Wall Street firms. Bucknell isn't on the list at all!!!

SMU grads do incredibly well and have boujie lives in Highland Park iykyk

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why?

I don’t think I know a single HS kid who wants to work on Wall Street unless their parents or close adults already are.

Kids are usually more romantic. They know they need a job and need to find a major that will get them a job. But they are usually looking to 1. Be in a helping profession (doctor, teacher, social worker); 2. Be the smartest one around (collect advanced degrees); 3. Be in a follower of their passion (theatre, math, French poetry); 4. Be an entrepreneur (specifics not needed) and 5. Be like mom/dad or not be like mom/dad.

That’s odd…I actually know several, but they don’t really know what an investment banker does. I wonder if there is some influencer on Tik Tok or something flashing their cash or something.

When I actually explain what the job actually is (for say the first five years)…at least my kid is less interested.

I actually find this entire thread somewhat laughable because investment banking really doesn’t require much intellect…you don’t need to know math above Algebra I and you don’t need to be able to write in complete sentences (it’s all PPTs with bullets)z

Most analyst classes have very high attrition rates…people like the idea of the job but never quite get what the actual job is until they are living it.

This is specifically investment banking…not trading, or P/E or quant/hedge funds.

To be fair, this is by design. Businesses don’t make it at all clear what these different roles are, because it’s not about hiring whose actually best for the job, but who went to your college and seems fun to drink with.

This is untrue, for both IB and MMB. The hiring process is rigorous and lengthy. Multiple rounds, technical questions, case studies, etc. Then you get a job and at least for my kid it’s a three month training program with more case studies and assessments (graded) before you even begin your actual job. Next up is they are all studying for the exams in the next few weeks. And there are kids there from all the schools mentioned plus non-target schools.

You think most kids know what a Fixed Income Analyst or Institutional Equity Derivatives Structuring is?

What is your point?

I think PP's point is that an IB would have to believe that a Bucknell grad could stay sober long enough to learn the industry. Doesn't seem like a good bet.

Leaving aside the Bucknell students who don't drink at all or drink sparingly (yes, they exist), most stay plenty sober from Sunday-Thursday, even the ones who throw down hard on the weekends. It's very much a work hard, play hard school. Bucknellians are no stranger to the grind.

Haha. Sober half the time!