Investment Banking (3 Viewers)

[si2136]

You might as well just do Comm. with hons
get out a year early

otherwise, I hear law is a good double for ib

True, but there isn't much a range of jobs for just a major in finance as a single degree.

Yeah, law is highly preferred for a dual degree with Commerce for IB, because for traditional Investment Bankers (Mergers and Acquisitions), it is better to have knowledge in law when doing contracts and stuff. However, for Trading and Investing, it's better to have a degree in Maths with Commerce. Honestly, I would do Comm/Adv. Maths, because I wouldn't like to become a Lawyer, and also there are a better range of career options with Maths rather than Law.

 

[asi9]

People don't do law to get a better understanding of contracts - they do it because it's seen as a prestigious degree and is 5 years long so you get to pad your resume for a longer period of time. Law firms are hired to handle the legal side of transactions (as well as the bank's in-house legal counsel teams).

 

[Nailgun]

People don't do law to get a better understanding of contracts - they do it because it's seen as a prestigious degree and is 5 years long so you get to pad your resume for a longer period of time. Law firms are hired to handle the legal side of transactions (as well as the bank's in-house legal counsel teams).

yeah
investment bankers have nothing to do with contracts
typically either firms are hired to draft contracts (which are then reviewed by the in-house legal team) or everything is done internally by in-house counsel (less common)

 

[si2136]

People don't do law to get a better understanding of contracts - they do it because it's seen as a prestigious degree and is 5 years long so you get to pad your resume for a longer period of time. Law firms are hired to handle the legal side of transactions (as well as the bank's in-house legal counsel teams).

I see, it is a prestigious degree but I don't think it would be worth the extra years, time, and fees for just a certificate on your wall if it doesn't really benefit you. That's interesting then, and now I don't see why people take up Law

 

[Nailgun]

I see, it is a prestigious degree but I don't think it would be worth the extra years, time, and fees for just a certificate on your wall if it doesn't really benefit you. That's interesting then, and now I don't see why people take up Law

It's kind of the traditional route especially if you aren't good with numbers, gives you something to talk about + prestige + time
Generally speaking, the routes to IB are quantitative degree (so compsci/maths/engo)/commerce, straight comm (but then usually hons is required) or comm/law
but I don't know how strict they are with that

 

[si2136]

It's kind of the traditional route especially if you aren't good with numbers, gives you something to talk about + prestige + time
Generally speaking, the routes to IB are quantitative degree (so compsci/maths/engo)/commerce, straight comm (but then usually hons is required) or comm/law
but I don't know how strict they are with that

They aren't strict at all, for example, some Investment Banks doesn't matter which BG you're from, you could be doing Arts or Engineering and make it in.

But it tends to be Comm/Maths/Law/Honours

 

[Chronost]

I see, it is a prestigious degree but I don't think it would be worth the extra years, time, and fees for just a certificate on your wall if it doesn't really benefit you. That's interesting then, and now I don't see why people take up Law

The extra 2 years at uni make a world of difference,trust me. Plus they recognise you need a certain quality to do well in Law, and if you do well in law, you got choices - trust me.

TRUSTTT MEEEEEE

 

[Trebla]

Dual Comm/Comp. Sci. might be a better choice after all, but I find no interest in Computer Science. Traditional Investment Bankers (M&A) are better off doing a humanities degree, @Trebla, when applying for a job in IB, are you able to choose which area in IB you would like to do?

Yeah usually you apply for a specific division within the bank whether it be markets or corporate finance etc

 

[Chronost]

They aren't strict at all, for example, some Investment Banks doesn't matter which BG you're from, you could be doing Arts or Engineering and make it in.

But it tends to be Comm/Maths/Law/Honours

They're not strict about it but you still need to show why you're applying for an IB with an arts degree (compared to a comm degree) etc...not to mention you might as well study something you want to be doing in the future otherwise you can easily lose interest over the years doing something else - doing commerce/maths makes it a lot easier in many regards

 

[kuromusha]

So how would IB interpret an Economic degree? It is considered Arts or Commerce?

M.Economics is offered by Arts Faculty, but I'm planning to choose all my electives in Finance offered by U.Sydney Business School. (9 Econ/Ecmt units from FASS and 7 Finance units from USBS).

So How would they interpret my degree? My degree will certainly not be Arty as it is very quantitative (economics, finance and econometrics)

 

[Kolmias]

So how would IB interpret an Economic degree? It is considered Arts or Commerce?

M.Economics is offered by Arts Faculty, but I'm planning to choose all my electives in Finance offered by U.Sydney Business School. (9 Econ/Ecmt units from FASS and 7 Finance units from USBS).

So How would they interpret my degree? My degree will certainly not be Arty as it is very quantitative (economics, finance and econometrics)

They'd probs interepret it as Commerce. Plenty of people with Econ degrees are in IB.

Source: Whirlpool

 

[Trebla]

So how would IB interpret an Economic degree? It is considered Arts or Commerce?

M.Economics is offered by Arts Faculty, but I'm planning to choose all my electives in Finance offered by U.Sydney Business School. (9 Econ/Ecmt units from FASS and 7 Finance units from USBS).

So How would they interpret my degree? My degree will certainly not be Arty as it is very quantitative (economics, finance and econometrics)

Your degree says M.Economics. They wouldn't know let alone care which faculty it belongs to.

 

[Trebla]

They're not strict about it but you still need to show why you're applying for an IB with an arts degree (compared to a comm degree) etc...not to mention you might as well study something you want to be doing in the future otherwise you can easily lose interest over the years doing something else - doing commerce/maths makes it a lot easier in many regards

I should also point out that from a recruiter's perspective, a commerce degree or even a major in finance alone is in no way an indicator of candidate's interests or capabilities in the IB space.

The reason you see more people with finance/maths/law degrees in IB is because that's where the majority of the applicants are coming from. It's not because one candidate is favoured over another because of their degree.

At the end of the day IBs are looking for smart, well skilled, hard working people who are interested in the world of finance. It just so happens that majority of the people who fit that profile (esp the part about being interested in finance) are studying finance/maths/law but there is no reason why someone who fits that profile couldn't be studying something else.

 

[asi9]

What degree you're studying should be the least of your worries. As long as you have a solid resume with well-rounded experiences (not just in finance so you're actually an interesting person), know how to network and you'll be fine.

 

[meDAawesome]

You 100% don't need to study Law or Engineering to get a job in investment banking. Don't take those courses just to get a job in IB you'll end up hating the course and doing badly.
Employers look more at your experience than your second degree. Networking is so incredibly important, take every opportunity for networking and experience as possible and show the employer you have a passion for IB.

Or just do UNSW Co-op.

 

[Confound]

can confirm straight commerce with lower distinction is enough to get to 1st round interviews for bbib (with no connections, and no previous ib experience, low-ish ECs)

 

[Zoinked]

Yep thats what investment banking is all about.

 

[nerdasdasd]

Does IB involve any of the heavy level calculations we do in the capstone and finance major ?

 

[meDAawesome]

Does IB involve any of the heavy level calculations we do in the capstone and finance major ?

Depends on your role. Quants and strategists yes, sales less so.

 

[Amundies]

Does IB involve any of the heavy level calculations we do in the capstone and finance major ?

What do you mean when you say "heavy level calculations"?