How is every last kid going into Investment Banking?

[Anonymous]

Anonymous wrote:It's a realistic career path, even for FGLI, if and only if you go to the right school and network with the right people while in school.

If the Ivies and Ivy-adjacent schools like Duke, UChicago, Amherst, etc., are out of reach, look for a known Wall Street feeder on the next tier like Bucknell, Colgate, or Richmond, and network like crazy from your first day on campus. Join a top-tier fraternity, get to know the alums, and make the career center your second home. And yes, be ready to log some serious hours doing work that is far from mentally stimulating or spiritually fulfilling, especially your first two years on The Street.

The concept of Richmond as a Wall Street feeder is even funnier and more delusional than the idea of a Bucknell pipeline.

[Anonymous]

My kid is surrounded by others who want to go into quant. His friends have $80k summer internship offers and he is at a top state school. Most of these job interviews need a deep understanding of math so he is studying 10+ hours a day for these interviews. I am curious to see where he lands. His cousin at Oxford and other one in India are all aiming for the same positions with quant funds across the globe.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's a realistic career path, even for FGLI, if and only if you go to the right school and network with the right people while in school.

If the Ivies and Ivy-adjacent schools like Duke, UChicago, Amherst, etc., are out of reach, look for a known Wall Street feeder on the next tier like Bucknell, Colgate, or Richmond, and network like crazy from your first day on campus. Join a top-tier fraternity, get to know the alums, and make the career center your second home. And yes, be ready to log some serious hours doing work that is far from mentally stimulating or spiritually fulfilling, especially your first two years on The Street.

The concept of Richmond as a Wall Street feeder is even funnier and more delusional than the idea of a Bucknell pipeline.

I went to Bucknell. Every guy I'm friends with from there works on Wall Street.

[Anonymous]

Anonymous wrote:No it's all the smart, FGLI (first gen low income) kids on Reddit too. Take some time and read--they ALL want to go into investment banking.

The in vogue career path has turned from computer science to econ/banking in the first gen/immigrant crowd.

The reality is that few of these kids will make it as it's not a meritocracy.

FGLI kids will struggle to succeed without the right mentorship early on. Not because they are not smart enough, but because they will not know the social norms all these private school 1% kids know. Plus things like going to firm golf outings, worldly experiences to chit chat about like traveling to Europe, what to wear, how to behave at fancy restaurants, cocktail parties etc. Other kids have been playing golf, traveling, eating at the country club or 5* restaurants their whole life. They don’t even think twice about what to wear to a dinner or conference. It is just natural.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well if it makes you feel better, I think GS is to be avoided.

The GS people I've met have been highly-educated and bright, to be sure, but not exactly pro-social. I could give examples of greed, lying, and failing to prioritize family and interests outside of work. But I've found readers are not shocked and don't really care.

Goldman is a gigantic company with tens of thousands of people. As much as they claim to have a defined culture, they don't. Each team is different and unique. You can't generalize about them based on the few people you have met there. I have met a bunch of jerks there, but also some wonderful people. Similar to almost every other company. One could say "the XYZ desk of 20 people at Goldman is awful."

PP. I get that. I work in a big company BUT the examples of people I've met are from different areas over time. I think it's the industry more than the firm. It's about priorities and values and what you would do to get ahead.

[Anonymous]

Anonymous wrote:My kid is surrounded by others who want to go into quant. His friends have $80k summer internship offers and he is at a top state school. Most of these job interviews need a deep understanding of math so he is studying 10+ hours a day for these interviews. I am curious to see where he lands. His cousin at Oxford and other one in India are all aiming for the same positions with quant funds across the globe.

This is all very new to our family. Can you please link to an example of something he's studying? I'm having trouble imagining what would require 10+ hours a day for a college internship.

(For context, I do understand what that type of studying looks like for the Bar Exam and med boards. But not for an internship interview.)

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's a realistic career path, even for FGLI, if and only if you go to the right school and network with the right people while in school.

If the Ivies and Ivy-adjacent schools like Duke, UChicago, Amherst, etc., are out of reach, look for a known Wall Street feeder on the next tier like Bucknell, Colgate, or Richmond, and network like crazy from your first day on campus. Join a top-tier fraternity, get to know the alums, and make the career center your second home. And yes, be ready to log some serious hours doing work that is far from mentally stimulating or spiritually fulfilling, especially your first two years on The Street.

The concept of Richmond as a Wall Street feeder is even funnier and more delusional than the idea of a Bucknell pipeline.

Fair enough. So where DO business students from Richmond go instead to start their careers?

[Anonymous]

Anonymous wrote:It’s cool to say you’ll be an IB millionaire. Today’s average college students all think they’ll start at $100k right out of school. They’re wrong too.

100k is nothing given today’s COL.

[Anonymous]

Every other kid on Reddit's 1.6 million person "Applying to College" board wants to go into "quant trading."

That board is heavily Asian and Indian (US and international). They follow the money. 2 years ago it was computer science. Now it's quant trading and IB. Medicine and engineering have taken a back seat as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s cool to say you’ll be an IB millionaire. Today’s average college students all think they’ll start at $100k right out of school. They’re wrong too.

100k is nothing given today’s COL.

A first year PwC consultant makes almost that much.

[Anonymous]

It's a shame that every kid you know aspires to be a money grubbing dillweed. Sounds like a parenting issue. And issue with who you choose to spend your time with.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That is your little piece of the world. You must be quite wealthy to know so many kids who want to go into investment banking.

When I was hanging with a possible billionaire and other possible decamillionaires, some of their kids were into investment banking. In the normal world, it's more rare. The kids probably want the lifestyle they grew up with...

+1 This. At my Ivy league undergrad I-banking was popular for rich male econ majors and STEM majors who wanted to remain rich. Other people did other things. The friends I had in state schools barely had people in I-banking at all, from what I saw.

In state flagships send a ton of kids to banking jobs.

[Anonymous]

Anonymous wrote:It's a shame that every kid you know aspires to be a money grubbing dillweed. Sounds like a parenting issue. And issue with who you choose to spend your time with.

Would you pay tuition if Wall Street was your kid's goal?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's a realistic career path, even for FGLI, if and only if you go to the right school and network with the right people while in school.

If the Ivies and Ivy-adjacent schools like Duke, UChicago, Amherst, etc., are out of reach, look for a known Wall Street feeder on the next tier like Bucknell, Colgate, or Richmond, and network like crazy from your first day on campus. Join a top-tier fraternity, get to know the alums, and make the career center your second home. And yes, be ready to log some serious hours doing work that is far from mentally stimulating or spiritually fulfilling, especially your first two years on The Street.

The concept of Richmond as a Wall Street feeder is even funnier and more delusional than the idea of a Bucknell pipeline.

I went to Bucknell. Every guy I'm friends with from there works on Wall Street.

Ignore the Bucknell and Richmond haters who seem to instantly materialize from the woodwork every time those schools are mentioned. Most Bucknell grads end up on The Street unless they're actively pursuing another field like law or medicine. And not in back office roles either -- another false charge from the haters, most of whom are probably mad they blew money on HYP or WASP and now have to call a Bucknell grad "boss."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's a realistic career path, even for FGLI, if and only if you go to the right school and network with the right people while in school.

If the Ivies and Ivy-adjacent schools like Duke, UChicago, Amherst, etc., are out of reach, look for a known Wall Street feeder on the next tier like Bucknell, Colgate, or Richmond, and network like crazy from your first day on campus. Join a top-tier fraternity, get to know the alums, and make the career center your second home. And yes, be ready to log some serious hours doing work that is far from mentally stimulating or spiritually fulfilling, especially your first two years on The Street.

The concept of Richmond as a Wall Street feeder is even funnier and more delusional than the idea of a Bucknell pipeline.

I went to Bucknell. Every guy I'm friends with from there works on Wall Street.

Same here. I graduated in 1990.