Wall Street Placement 2024 update

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

I dont think top kids from MIT are going to or even want to go to traditional Wall Street firms. The most well paid internships are at quant firms where kids need to really know math and CS well to perform in interviews. Also, the days when IB paid very lucratively are over so i would not even encourage my kid to pursue that. We live in NY and have worked in finance for many years.

Ok — you think quant people become MDs. They don’t — the relationship people do. Quant away, but there is always another younger math person, client connections are what drive Wall Street. Not quants. But they have a place.

You obviously dont know what I am talking about. My kid is not applying to Investment banks because he wants to work at Jane Street or Hudson River Trading. These kids are getting paid $75K to $100k for the summer. These jobs are not really for jocks because you do need to "quant away" to be successful and believe me these firms are not looking for smooth talkers. Investment banking jobs are no longer the target of top kids.

[Anonymous]

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

Quants are categorized differently. This is not a quant school ranking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

I dont think top kids from MIT are going to or even want to go to traditional Wall Street firms. The most well paid internships are at quant firms where kids need to really know math and CS well to perform in interviews. Also, the days when IB paid very lucratively are over so i would not even encourage my kid to pursue that. We live in NY and have worked in finance for many years.

But that's not an IB internship….
You guys are conflating things that are not remotely the same.
Isn’t this whole threat @ IB and Wall Street?!?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

I dont think top kids from MIT are going to or even want to go to traditional Wall Street firms. The most well paid internships are at quant firms where kids need to really know math and CS well to perform in interviews. Also, the days when IB paid very lucratively are over so i would not even encourage my kid to pursue that. We live in NY and have worked in finance for many years.

Ok — you think quant people become MDs. They don’t — the relationship people do. Quant away, but there is always another younger math person, client connections are what drive Wall Street. Not quants. But they have a place.

You obviously dont know what I am talking about. My kid is not applying to Investment banks because he wants to work at Jane Street or Hudson River Trading. These kids are getting paid $75K to $100k for the summer. These jobs are not really for jocks because you do need to "quant away" to be successful and believe me these firms are not looking for smooth talkers. Investment banking jobs are no longer the target of top kids.

Oh your kid’s like SBF, got it. Cool.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

I dont think top kids from MIT are going to or even want to go to traditional Wall Street firms. The most well paid internships are at quant firms where kids need to really know math and CS well to perform in interviews. Also, the days when IB paid very lucratively are over so i would not even encourage my kid to pursue that. We live in NY and have worked in finance for many years.

Ok — you think quant people become MDs. They don’t — the relationship people do. Quant away, but there is always another younger math person, client connections are what drive Wall Street. Not quants. But they have a place.

You obviously dont know what I am talking about. My kid is not applying to Investment banks because he wants to work at Jane Street or Hudson River Trading. These kids are getting paid $75K to $100k for the summer. These jobs are not really for jocks because you do need to "quant away" to be successful and believe me these firms are not looking for smooth talkers. Investment banking jobs are no longer the target of top kids.

Jane Street only recruits at these schools too. They're even more prestige conscious than IB.

[Anonymous]

Jane Street only recruits at a subset of schools on that list. Not Notre Dame, Williams, Virginia or several others on that list

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ignore all those insisting you must attend an elite college to work on Wall Street and take a look at the evidence that some companies provide on their websites. Here's Goldman Sachs' page introducing some of their employees.

https://www.goldmansachs.com/careers/meet-our-people/

Take a look at their bios, many of which include the colleges they attended, and you'll see the truth.

clearly, you don’t work on Wall Street. You have to look at the department and title.

And we're supposed to believe you do work on Wall Street and are posting on an anonymous college discussion board all throughout the trading day?

Do you have any experience of your children going through this? You should listen to other peoples' experiences.

Anecdotes don't give a complete enough picture for me. I want hard data and lots of it, and have seen none from those on this thread who are insisting you have to attend an elite college.

You actually think it's anecdotal that attending an elite college improves your potential career path? Steer clear then!

It would be foolish to 'steer clear' of amazing places to learn like those on the list. It's also foolish to believe that you must attend one of them in order to have access to desirable jobs.

I don’t understand what you are trying to say. I’ve spent all day trying to tel you how recruiting actually works but you don’t want to listen. This is a very specific recruiting process for a very specific top tier job. I don’t care if you believe me, but go to Wall Street Oasis and read the board — this is how it works and Ohio state ain’t it.

Wall Street Oasis is another company that profits off of people thinking that if you haven't attended an elite college, then you're going to need a whole lot of help in order to land a desirable job on Wall Street. Show me a Forbes or Bloomberg piece supporting your position and I'll start to rethink mine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

I dont think top kids from MIT are going to or even want to go to traditional Wall Street firms. The most well paid internships are at quant firms where kids need to really know math and CS well to perform in interviews. Also, the days when IB paid very lucratively are over so i would not even encourage my kid to pursue that. We live in NY and have worked in finance for many years.

Ok — you think quant people become MDs. They don’t — the relationship people do. Quant away, but there is always another younger math person, client connections are what drive Wall Street. Not quants. But they have a place.

You obviously dont know what I am talking about. My kid is not applying to Investment banks because he wants to work at Jane Street or Hudson River Trading. These kids are getting paid $75K to $100k for the summer. These jobs are not really for jocks because you do need to "quant away" to be successful and believe me these firms are not looking for smooth talkers. Investment banking jobs are no longer the target of top kids.

This is what my kids and their friends have said, that IB is more of a backup from the their ivy/plus schools.

[Anonymous]

By top kids, few even qualify for Quant Jobs. They are kids that can do mathematical proofs.

Most econ/finance majors stand zero chance at getting into Jane Street.

[Anonymous]

Anonymous wrote:By top kids, few even qualify for Quant Jobs. They are kids that can do mathematical proofs.

Most econ/finance majors stand zero chance at getting into Jane Street.

They don’t even recruit those students. They spend most of their time hanging around the engineering school and taking to math and physics kids as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

I dont think top kids from MIT are going to or even want to go to traditional Wall Street firms. The most well paid internships are at quant firms where kids need to really know math and CS well to perform in interviews. Also, the days when IB paid very lucratively are over so i would not even encourage my kid to pursue that. We live in NY and have worked in finance for many years.

Ok — you think quant people become MDs. They don’t — the relationship people do. Quant away, but there is always another younger math person, client connections are what drive Wall Street. Not quants. But they have a place.

You obviously dont know what I am talking about. My kid is not applying to Investment banks because he wants to work at Jane Street or Hudson River Trading. These kids are getting paid $75K to $100k for the summer. These jobs are not really for jocks because you do need to "quant away" to be successful and believe me these firms are not looking for smooth talkers. Investment banking jobs are no longer the target of top kids.

So true. The very top intellectual students at the very top schools do not consider IB as a career. IB would bore them to death.

[Anonymous]

Why would a top MIT student go to IB where an average student in terms of academics but with connections and smooth talking ability can beat an MIT student easily?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm surprised by MIT. I thought they'd have a higher percentage of students going to quants. But perhaps this table doesn't measure that. Or perhaps MIT students are more interesting.

Also, I remain struck by how antiquated Wall Street recruiting remains. Like they're stuck in the 90s when the best and brightest did actually go to Harvard and Yale. That's a long time ago. Genuine talent is found at a much broader spectrum of schools these days. It seems like on Wall Street there is still only The Path. Clearly, a very change averse industry.

I dont think top kids from MIT are going to or even want to go to traditional Wall Street firms. The most well paid internships are at quant firms where kids need to really know math and CS well to perform in interviews. Also, the days when IB paid very lucratively are over so i would not even encourage my kid to pursue that. We live in NY and have worked in finance for many years.

Ok — you think quant people become MDs. They don’t — the relationship people do. Quant away, but there is always another younger math person, client connections are what drive Wall Street. Not quants. But they have a place.

You obviously dont know what I am talking about. My kid is not applying to Investment banks because he wants to work at Jane Street or Hudson River Trading. These kids are getting paid $75K to $100k for the summer. These jobs are not really for jocks because you do need to "quant away" to be successful and believe me these firms are not looking for smooth talkers. Investment banking jobs are no longer the target of top kids.

So true. The very top intellectual students at the very top schools do not consider IB as a career. IB would bore them to death.

IB is way too social & soft skill focused….
I mean one of the interview criteria is likeabilty and social EQ!