Is the College at UPenn good for breaking into IB?
(Chimp, 4
Points)
on 2/22/12 at 10:48am
I ask this because I assume BB investment banks will come to UPenn looking to get Wharton (Undergrad) kids rather than liberal arts majors.
If I go to the College of Arts and Sciences and get an Econ degree, why would a bank hire me over a Wharton kid with same GPA, same networking, same fit etc., but has also been taking business courses for the past four years?
Would one be better off (i.e. face less competition) at places like UChicago, Columbia, Brown, Duke?






They probably would not hire
They probably would not hire you OVER a Wharton kid...depending on your GPAs. But, you would most likely be hired over UChicago, Columbia, Brown, or Duke kids.
You can study "ceramics" at UPenn and easily break into IB.
per ardua ad astra
Wharton gpa > Penn college
Wharton gpa > Penn college gpa due to Wharton curve and the higher level of competition among the students in general, as well as the more difficulty in nature the subject matter is than college majors, econ withstanding. Yes, a Wharton grad has a major advantage over pretty much anyone at Penn when it comes time to interviewing for banking/consulting gigs. Unless the kid is a total moron at interviewing, wharton grads have major compet advantages.
Note that, if you are
Note that, if you are accepted into and attend UPenn CAS depending on your performance your first year, you can apply to internally transfer to Wharton. But you will definitely need a GPA as close to 4.0 as possible.
As a College kid who broke
As a College kid who broke into banking, I can confirm the above. I graduated with a History degree but took several classes in Wharton that I highlighted on my resume. This is totally doable, although Penn's red tape can be a pain in the ass at times (literally all it requires is the Wharton person to press a button granting you a seat in the class, but they won't do it for the higher level classes unless you are persistent). I also went the extra step of putting together a folder highlighting some of the modelling work I had done in my classes and brought it to my interviews. It definitely helped.
If I could do it all over again, I would probably try for M&T given that I work in Tech M&A in Silicon Valley and see the value of a computer science degree on a daily basis.
See my WSO Blog
I am assuming you're a High
I am assuming you're a High School senior deciding on Colleges. Of all the Universities you mentioned, only Columbia>UPenn CAS. That said, it's not that hard to transfer into Wharton from the CAS. If you got into both UPenn and Columbia, it's your call. However, if I were in your shoes, I would choose Columbia. The ability to do school year internships is hard to beat.
Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.
@Leonidas - I can't comment
@Leonidas -
I can't comment on Columbia. I'm obviously biased toward Penn. OP, Penn was a blast, and you will get a stellar education (in all senses of the word). Only downsides would be that the school is big, and you can oftentimes feel lost among the 10k undergrads. It also has a strong pre-professional feel - ie: if you're a junior/senior and don't have something lined up you definitely feel pressured to do so.
I also recommend Greek life.
My 2 cents. Feel free to PM me with any specific questions.
See my WSO Blog
Transferring into Wharton
Transferring into Wharton from CAS (or SEAS) is no longer based purely on GPA but also on the rigor of the classes you took (and if you took any Wharton classes while in CAS) in addition to your essays, so CAS students with ~3.6 were able to transfer into Wharton this past year over people who had 3.9s (of course 3.9 with hard courses would probably do well).
While it's definitely easier to get ib interviews being in Wharton than CAS, a lot of it depends on your past internships (if in finance, chances go way up) and they do interview CAS people. While I don't actually know that many econ majors interested in IB (who didn't transfer to Wharton), one of my friends who fits that profile will be doing IB at a BB this summer.
But basically, you should just apply to Wharton if you want to go to Wharton. There's too much of this "apply to CAS with the intention of transferring into Wharton"...doesn't work out too well most of the time. And you could discover that you don't want to do IB. Shitty hours...I personally never understood the draw (yay S&T =D)
yay M&T! And yes IB blows,
yay M&T! And yes IB blows, do something that has added value in real life not in an excel model.
To be honest..it is true that
To be honest..it is true that they will be coming for Wharton kids, but thats not to say you can't get in on the OCR with a little extra networking. I come from a school with an undergraduate business school that has many banks come on campus for recruiting. Coming from liberal arts background, I just did some extra networking and utilized the OCR. It can be done.
Good is the enemy of Great
Just in response to Pike, I
Just in response to Pike, I guess...you might want to listen to the people actually at Penn more than other places since we are here. Networking only helps to some extent...the thing is everyone does it, so it probably wouldn't be enough to offset the fact that you're at Penn and not in Wharton (like I said before, it's possible to get interviews if you're not in Wharton, but your chances definitely go way down). Basically, if you're interested in finance and at Penn, they'll wonder why you're not in Wharton. While you can explain that in an interview, it's harder to get it from a resume (and few actually read cover letters).
bcf: I disagree completely.
bcf: I disagree completely. Everyone networks, yes, everyone drives too, but clearly some are better than others. So you can't make a blanket statement like that. Secondly, not everyone knows what ehy want to do coming into college, and the banks recognize that. And you can take basic intro wharton courses as a non-wharton student. Yes being from WHarton si easier, but being in the college does not preclude you access to IB/mgmt consulting jobs. And the OCR, at least when I was there, was the same. I don't think they kept Wharton OCR separate from non-Wharton OCR. That also being said, college students should be leveraging alums too to get in the door, and not jsut OCR since that's a shit show.
To respond to a couple posts
To respond to a couple posts here - @bcf2011 yes, that's exactly the situation you will run into, but its fairly easy to explain away in your interviews. Albeit, as you point out, not so much so on your resume.
My story involved not even knowing what an investment bank was or did until I got to Penn. I applied to CAS because I didn't know what I wanted to do and figured it would give me the most options (also started out as an Econ major). Econ was interesting, but the higher up you go, it gets further and further divorced from reality. I was frustrated with this, and gravitated toward the finance classes as an alternative. Lo and behold, I discover I like finance. Secured a PWM internship my JUNIOR year summer, and spun that along with my coursework (coupled with fraternity networking, etc.) into the analyst gig I'm in now. That being said, I should add that my role is a bit atypical, as I'm not cranking on Excel all day. My shop basically applies the private equity sourcing model to banking in addition to the normal responsibilities of an analyst..
EDIT: I should also add that I applied to both OCR and non-OCR positions
See my WSO Blog
@socola, I agree completely
@socola, I agree completely with what you're saying. My point was just that the likelihood of getting interviews, especially in OCR, would be much higher with Wharton than CAS (and if the guy comes in knowing he wants to do IB, it doesn't necessarily make sense for him to come in doing econ--it's different than RAMBO's situation). It's also possible to get none either way...as you pointed out, OCR is a shit show.
This is stupid. I don't know
This is stupid. I don't know any CAS kids who wanted banking and didn't get it unless they really didn't deserve it. The CAS pool is more self-selecting, that's all.
Tiers of IB recruiting: -
Tiers of IB recruiting:
- Harvard / Penn-Wharton
- Stanford / Princeton
- Columbia / Yale / MIT-Sloan
- Penn-College / Dartmouth / Cornell-AEM / NYU-Stern / UCB-Haas / Duke / Northwestern / UChicago
- UVA-Mcintyre / UMich-Ross / Williams / Georgetown / Brown
- The rest
If you go to any ivy league
If you go to any ivy league school it's easy to break into IBD as long as you have solid grades or 3.5+
any major aside from Fine arts (and even then you probably could) will be fine
I'm a high school senior as
I'm a high school senior as well looking at several colleges. If I had the opportunity, I would definitely choose Columbia over Penn CAS, unless you're looking to transfer into Wharton after a few years. I sometimes feel as if it would be better to be an Econ major at Columbia (same footing as everyone else at Columbia) than to be CAS at Penn. However, from what I've seen through my college research there is no shortage of Penn CAS kids working in finance. If you look at the Philosophy, Politics and Economics department at Penn there is a guy who left Penn to work directly for Soros.
I suppose it comes down to the campus and internal transfer opps. Either way you should have no problems breaking into IB. Just worry about getting in first..
If you want to be in NYC and
If you want to be in NYC and work in finance, NYU Stern > Columbia any day of the week. And better looking girls.I dont think Columbia has any decent looking chicks. And the bus school has to be ranked lowest in terms of hotness factor, and that is fact.
seedy underbelly wrote: Tiers
Tiers of IB recruiting:
- Harvard / Penn-Wharton
- Stanford / Princeton
- Columbia / Yale / MIT-Sloan
- Penn-College / Dartmouth / Cornell-AEM / NYU-Stern / UCB-Haas / Duke / Northwestern / UChicago
- UVA-Mcintyre / UMich-Ross / Williams / Georgetown / Brown
- The rest
I disagree where you placed Columbia as well as Penn- College...by no means is Penn-college on the same level of finance recruiting as NYU-Stern (there is a reason Stern is #2 in finance rankings). Also, while stanford mba is good for bankings jobs, undergrads rarely come out to new york, and their overall prescense is weak on the east coast.
socola2003 wrote: If you want
If you want to be in NYC and work in finance, NYU Stern > Columbia any day of the week. And better looking girls.I dont think Columbia has any decent looking chicks. And the bus school has to be ranked lowest in terms of hotness factor, and that is fact.
Are you talking about undergrad or MBA? While Stern's recruiting is quite good, and its environment is one that I personally prefer, in NYC schools Columbia reigns supreme.
Bernankey wrote: seedy
Tiers of IB recruiting:
- Harvard / Penn-Wharton
- Stanford / Princeton
- Columbia / Yale / MIT-Sloan
- Penn-College / Dartmouth / Cornell-AEM / NYU-Stern / UCB-Haas / Duke / Northwestern / UChicago
- UVA-Mcintyre / UMich-Ross / Williams / Georgetown / Brown
- The rest
I disagree where you placed Columbia as well as Penn- College...by no means is Penn-college on the same level of finance recruiting as NYU-Stern (there is a reason Stern is #2 in finance rankings). Also, while stanford mba is good for bankings jobs, undergrads rarely come out to new york, and their overall prescense is weak on the east coast.
Nope. That is pretty much the most accurate ranking one can get. I was accepted and researched all three (Columbia, Penn, and NYU Stern). Penn's College has placed students at Bain Capital and Soros straight out of undergrad. In addition, all the BBs take students from it and several of the elite boutiques (Blackstone in several years, Lazard every year). Add to that the fact that all three of MBB recruit at least three each, and Penn is hands down a much better option than NYU Stern. Not saying Stern is bad, but that Penn overall has more opportunities, and in IB has the same tier recruiting. Columbia is a notch above the two in the sense that, percentage-wise, it places more in FO roles than the other two.
Seedy's ranking is spot on.
Seedy's ranking is spot on. Although, once you get into the "target range", it doesn't matter a whole lot for BB IBD.
Calling Ron Paul an isolationist is like calling your neighbor a hermit because he doesn't come over to your property and break your windows.
seedy underbelly
Tiers of IB recruiting:
- Harvard / Penn-Wharton
- Stanford / Princeton
- Columbia / Yale / MIT-Sloan
- Penn-College / Dartmouth / Cornell-AEM / NYU-Stern / UCB-Haas / Duke / Northwestern / UChicago
- UVA-Mcintyre / UMich-Ross / Williams / Georgetown / Brown
- The rest
I disagree where you placed Columbia as well as Penn- College...by no means is Penn-college on the same level of finance recruiting as NYU-Stern (there is a reason Stern is #2 in finance rankings). Also, while stanford mba is good for bankings jobs, undergrads rarely come out to new york, and their overall prescense is weak on the east coast.
Nope. That is pretty much the most accurate ranking one can get. I was accepted and researched all three (Columbia, Penn, and NYU Stern). Penn's College has placed students at Bain Capital and Soros straight out of undergrad. In addition, all the BBs take students from it and several of the elite boutiques (Blackstone in several years, Lazard every year). Add to that the fact that all three of MBB recruit at least three each, and Penn is hands down a much better option than NYU Stern. Not saying Stern is bad, but that Penn overall has more opportunities, and in IB has the same tier recruiting. Columbia is a notch above the two in the sense that, percentage-wise, it places more in FO roles than the other two.
I was referring to undergrad. Following your logic all the rankings that place NYU Stern as second for finance behind Wharton are wrong? When I was interviewing I didnt meet any CAS students, i did meet quite a few from Stern. Columbia is not even on the board when it comes to undergrad IB jobs, when compared to Wharton or Stern.
Bernankey wrote: seedy
Tiers of IB recruiting:
- Harvard / Penn-Wharton
- Stanford / Princeton
- Columbia / Yale / MIT-Sloan
- Penn-College / Dartmouth / Cornell-AEM / NYU-Stern / UCB-Haas / Duke / Northwestern / UChicago
- UVA-Mcintyre / UMich-Ross / Williams / Georgetown / Brown
- The rest
I disagree where you placed Columbia as well as Penn- College...by no means is Penn-college on the same level of finance recruiting as NYU-Stern (there is a reason Stern is #2 in finance rankings). Also, while stanford mba is good for bankings jobs, undergrads rarely come out to new york, and their overall prescense is weak on the east coast.
Nope. That is pretty much the most accurate ranking one can get. I was accepted and researched all three (Columbia, Penn, and NYU Stern). Penn's College has placed students at Bain Capital and Soros straight out of undergrad. In addition, all the BBs take students from it and several of the elite boutiques (Blackstone in several years, Lazard every year). Add to that the fact that all three of MBB recruit at least three each, and Penn is hands down a much better option than NYU Stern. Not saying Stern is bad, but that Penn overall has more opportunities, and in IB has the same tier recruiting. Columbia is a notch above the two in the sense that, percentage-wise, it places more in FO roles than the other two.
I was referring to undergrad. Following your logic all the rankings that place NYU Stern as second for finance behind Wharton are wrong? When I was interviewing I didnt meet any CAS students, i did meet quite a few from Stern. Columbia is not even on the board when it comes to undergrad IB jobs, when compared to Wharton or Stern.
Rankings are meaningless. Yes, Stern places more students overall. But, on a percentage-basis of students interested in IB, it's really not very good. Pretty much everyone in Stern is gunning for IB. Compare that to the College at Penn, where applicants from before they even apply are forced to choose between Wharton and the College (not allowed to apply to both), means that on a percentage-basis compared to Stern very few students at the College at Penn are interested in IB.
Same for Columbia. It's overall a better option. Stern's strength is that's one of the few decently-reputable schools that offer a undergrad business education. None of the Ivies (except Penn) or Duke or Stanford or Chicago offer it. But as the Ivies are moving closer to it by the year, Stern's attractiveness is fading. I do agree though that it is a solid target. Is it better than Penn/Columbia though? Nope. That said, if I had gotten better aid from Stern (only got 40K in loans compared to a 60K grant at Columbia) I would've gone there instead of my current school, just because I wanted a pure undergraduate business education.
youre allowed to apply to
youre allowed to apply to both: Huntsman Program. And for WHarton/Eng - Jerome Fisher M&T, my alma mater program.