Anonymous wrote:
Anonymous wrote:Twins
DS1: Swarthmore, Art History Major, 4.0w/ all the awards, going into investment banking with a firm he interned for junior year
DS2: UVA, CS Major, 3.9w/all the awards, currently no job and applying like mad, past internship with Tesla
You can imagine my shock
How does art history lead to investment banking? This is not a snark comment. I'm genuinely curious as that would not be my expectation (though I know little about either as a career and college major).
The math/finance/modelling parts of the job anyone with an above average IQ can figure out/be taught (and these are the easiest things to teach in-house). It is the lateral thinking, communication, creative narrative making (presentation) & relationship building that really drive success (with a lot of hunger & drive). Some engineers & finance majors can do this, but SLAC liberal arts majors (especially athletes) have been great bets over the years. Look at the CEO's of major banks - I believe most are liberal arts majors (many SLAC). The technical stuff can be taught, but if you leave the person with a CEO or CFO on a site visit (with 2-3 hours of car time alone), can they keep the conversation going? Do they have gravitas? Is finance changing, yes, but decisions on IB mandates still rest with individuals. The trading floor will be more of the domain of the CS & quant jocks (but things like OTC derivatives still require the 'charm and bully' skillset as structured products have to be sold).