Investment banking is a profession that requires more than an undergraduate degree. You must have a certain kind of GPA, specific skills, and a strong network to break into the business. Many future financial professionals are unsure of which institutions will be the most beneficial in the pursuit of their dream job.
Investment banks with a bulk bracket typically recruit for their analyst and associate positions from an elite group of universities. These are referred to as “target schools.” These schools are crucial for those who want to secure an internship at the top investment bank.
The top investment banking school is one that consistently sends a large number of graduates to most prestigious investment banks, and has impressive numbers of placement for students in the undergrad level. Some of these schools have extracurricular activities and student groups that expose students to the industry. Examples include the Stern Finance Society or Booth’s famous Finance Curriculum.
This year, Cornell tops the list of the top investment banking schools followed by MIT and Columbia. All three are Ivy League institutions that have a long history of sending graduates to Wall Street. The University of Texas at Austin was also on the list. The McCombs School of Business offers a finance track and a finance major.
It will be a lot more difficult to get into an investment bank of the top tier if you do not attend an institution that is a target. The most realistic path for students who aren’t target students is to sign up with a regional middle market firm and then gradually move lateral to an incline bracket.