What is the best major for investment banking?
Most investment banks prefer degrees in finance, accounting, business administration, and other business disciplines. Undergraduate degree subjects are less influential in the hiring process if a candidate has a master's degree in business administration, finance, or another highly relevant subject.
For those seeking a career in investment banking, a bachelor's degree in finance is a prerequisite. Other potential acceptable majors include bachelors in economics or bachelors in business supplemented with a minor in finance.
A GPA of a 3.7+ can make up for weaker experience, but is by no means a gimme. Banks prefer good experience to good GPAs (subject to a minimum in the 3.3-3.5 range).
A business major is not required as banks want diverse analyst classes and open themselves to all majors. However, the vast majority of bankers are finance or economics majors. Majors are irrelevant at universities like Harvard, but become more important as students progress down the prestige ladder.
To become a professional investment planner, investment banker, floor broker, or sales agent, you'll likely need at least a bachelor's degree in finance, economics, or a related field. However, it might be even more beneficial to complete a Master of Business Administration (MBA) program.
MBA (Finance) is one of the widest avenues for entering into the IB Industry. Since this postgraduate course covers all vital disciplines such as business management, accounting, marketing, commercial acumen, finance & financial analysis, it grooms students for an investment banking career.
University of Pennsylvania is no surprise and they are very clearly the overall best school for finance placement. UPenn dominates investment banking recruiting and even sends dozens of people directly into great private equity firms and hedge funds every year.
Q: What are your GPA requirements? A: We value diverse degree backgrounds and experiences and while a GPA 3.2 (or equivalent) in your undergraduate degree is preferred it is not required. Our training programs are designed to allow everyone, regardless of major studied to succeed.
Goldman Sachs does not give a specific minimum GPA requirement, though some sources suggest a GPA of at least 3.6 is preferred. Additionally, you may need to show relevant coursework and hard skills for certain programs.
Most investment banks prefer degrees in finance, accounting, business administration, and other business disciplines. Undergraduate degree subjects are less influential in the hiring process if a candidate has a master's degree in business administration, finance, or another highly relevant subject.
Can a CS major go into investment banking?
With a degree in computer science, you have the opportunity to enter the investment banking industry and become a valuable asset to top firms that recognize the value of a tech-savvy workforce.
Yes, GPA matters! Bulge bracket banks and almost all other investment banks will look at your GPA when applying for a job and you should include it in your resume. Typically banks screen resumes based on GPA and will often remove anyone below 3.5.
The demand for coveted positions in investment banks consistently exceeds the available supply, making it a highly selective field. Statistics indicate that acceptance rates for top investment banks, such as JP Morgan and Goldman Sachs, typically range between a mere 3% to 5%.
| Rank | College major | Median salary |
|---|---|---|
| Source: Bankrate analysis of 2021 American Community Survey data via IPUMS | ||
| 1 | Electrical Engineering | $110,000 |
| 2 | Computer Engineering | $104,000 |
| 3 | Pharmacy, Pharmaceutical Sciences, and Administration | $100,000 |
Buffett holds a bachelor's degree in business administration from the University of Nebraska, where he transferred after spending two years at The Wharton School of Business at the University of Pennsylvania. He then went to Columbia University and got a master's degree in economics.
Is Finance a Hard Major? Finance is a somewhat difficult major. The difficulty with finance comes down to its concepts that students would not have experienced before in their lives, the financial lingo in the field, and the concentration of math in the subject.
Investment banking is very well paid, but sign-on bonuses and a healthy pay packet come at a price. To survive as an investment banker, you need to have a high stress threshold. You also need to be willing to say goodbye to your social life for a few years.
- Centerview: Tops the list with a total compensation of $220,000, including a $130,000 annual salary and a $90,000 annual bonus. ...
- Evercore: Offers a total compensation of $210,000, split between a $120,000 annual salary and a $90,000 annual bonus.
- A very good understanding of the technical skills required for IB – accounting, valuation and DCF modeling, and M&A and LBO modeling;
- A solid main “story”;
- 3 mini-stories you can use to answer “fit” questions;
- Your top 3 strengths and top 3 weaknesses;
Corporate finance, economics, and business administration are some of the best majors for investment banking. They'll teach you the financial concepts you need to know to excel as an investment banker working with hedge funds, capital markets, and more.
Which college does Goldman Sachs hire from most?
- The University of Pennsylvania is one of the top schools for Goldman Sachs, Citigroup (C), and Credit Suisse (CS). ...
- New York University (NYU) is right with the University of Pennsylvania in terms of where investment banks most frequently recruit new employees.
The lucrative and fast-paced career of an investment banker is a highly competitive one. For instance, in a recent year, 236,000 applicants competed for roughly 3,500 internships at Goldman Sachs. This is common across the industry where acceptance rates for programs are typically less than 2%.
A well-rounded academic background with coursework in finance or economics is recommended. Candidates must demonstrate academic strength – a minimum 3.2 GPA for juniors and a minimum 3.5 GPA for freshmen and sophom*ores, strong teamwork, communication skills and a high energy level.
- University of Phoenix (1,081 alumni)
- Baruch College, City University of New York (774 alumni)
- Franklin University (745 alumni)
- University of Delaware (660 alumni)
- New York University (619 alumni)
- Arizona State University (463 alumni)
- DePaul University (463 alumni)
He graduated from Harvard University in 1889 and became a member of his father's banking firm, J.P. Morgan and Company, in 1892, working in the firm's London branch for eight years. He succeeded his father as head of the firm in 1913 upon the latter's death, becoming heir to an estate of more than $50,000,000.
