Reply to Wallstreet Feeder Schools (Per Capita)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This has little to do with the college and everything to do with the background of the kids. The overwhelming majority of the undergrads heading into banking have family already in banking; from dads to older brothers to uncles or grandpa. I'd estimate 75% are already connected, 20% are cute elbowy gals with at least a 3.5 GPA, and 5% are URMs with at least a 3.3 GPA.

I bet this list would barely change if you sorted for New England and Tri-State private prep school alums per capita.[/quote]
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Most ORMs at Feeders that go into IB or S&T don’t have banking parents.
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There's much more to Wall Street/finance than IB or S&T.

The other poster is correct. So many kids going into Wall Street in some capacity have families who have a history of working on Wall Street or in financial roles. It's not restricted to the Ivies but it's also why you see plenty of kids from LACs heading to New York to work in finance/banking/consulting. Because their fathers worked in finance.

It's not a bad career track because it delivers plenty of rewards. Even if you end up leaving NYC or never going to NYC and working in finance in other cities. It's a great way to get into the six figure income track pretty early on and have a comfortable life. And that's why the fathers (and now mothers) increasingly direct their kids onto similar tracks. [/quote]

I have no idea what ORM means but I have two children currently at top colleges and the overwhelming majority of their friends going into investment banking are from finance families. As I said, that can mean a parent, an older sibling, cousins, prep school network, uncles, grandpa. These are overwhelmingly NOT random middle class kids from random flyover suburban towns stumbling into banking or being groomed for banking by the college.[/quote]

ORM = Indian and East Asian

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