There are over 1,300 universities, business schools and management colleges offering MBA programs. But investment banks typically recruit 70% or more of their MBA hires from just 10 to 15 top global institutions. If you attend one of the 1,285 not on their target list, your money could prove ill-spent.
'We have 10 or 12 schools that we visit proactively in the U.S.,' says one Wall Street recruiter in New York. 'They account for 60-70% of our hires.'
Wall Street banks hang back when it comes to going on the record with the schools they target. But in conversations with recruiters the same targets crop up again and again: Wharton (University of Pennsylvania), Columbia, Harvard, Chicago, MIT Sloan, Stanford, and to a lesser extent Michigan, Cornell, Kellogg, NYU Stern, Darden and UC Berkeley.
European investment banking recruiters are just as choosy. Most draw a proportion of MBA entrants from the top US schools, and in Europe they all visit the same haunts. Barclays Capital, Merrill Lynch, Morgan Stanley and Bank of America all favour the same three European business schools: London Business School, Insead and IESE. Only BarCap ventures further afield by targeting students at Manchester Business School, HEC in France and the Rotterdam School of Management.
MBA students at targeted schools have two main advantages: alumni and college visits. Former students of favoured schools encourage banks to continue hiring from their alma mater: 'We don't go to a school like Duke because we don't have a history of hiring there,' says Kristina Peters, regional head of campus recruiting for the Americas at Deutsche Bank.
Top schools are deluged with visits from banking recruiters. 'This year we've got Bank of America, Barclays Capital, Bear Stearns, Citigroup, Deutsche Bank, JPMorgan, Merrill Lynch, Morgan Stanley, Lehman Brothers and Royal Bank of Scotland attending our careers forum', says Kathleen Dolan, director of MBA career services at IESE.
The inevitable outcome of all this attention is that banks often hire multiple students from preferred schools. Take MIT Sloan, where 24% of the class of 2002 went into investment banking: ten students went to Merrill Lynch, nine to Goldman Sachs and six to Citigroup.
So what are the chances of becoming an investment banking associate if you are part way through an MBA at the University of Southern California or Lancaster University Management School? Not great. 'If you're not at a target school you should be in the top 5% of your class,' says one US recruiter.
But don't discount the possibility of getting hired entirely. Banks are opportunists: they will always consider applications from transparently talented candidates, no matter which school they've attended. Goldman Sachs has been known to employ alumni of the Cox Business School at the Southern Methodist University in Texas and the Carroll School of Management at Boston College.
Tom Wilson, director of campus recruiting for global markets and investment banking at Merrill Lynch, says the bank's strategy involves building long-term relationships with a diverse pool of high-caliber candidates. If you aren't at a top business school, it will help if you have someone to champion your cause: 'Great hires may come from the work of a single dedicated alum - or a referral from a professor or client,' says Wilson.
Nevertheless, recruiters admit in private that attending a targeted school can more than tip the scales. 'It's a big advantage,' says one. 'It's where we get most of our students.'
It's reasonable for both IB recruiters and MBAers. For IB recruiters, with limited energy and money, to select applicants from Top B-school pool is pretty sensible and efficient. For MBAers, with talent in IB world, you can also have the chance to catch the eyes of recruiters.
A good article; tell us the reality and the opportunity.
这篇文章告诉我们如果想进wall street的i-bank,成本最低的办法就是上NYU stern.
Does it mean that it's no use studying MBA ranked after 20?
Though investment bank is good choice for MBA,i don't think that every one desire working in it. So don't too disappointment if you are not in top 20.
我任意各找了三所排名分别在前十，前二十，前三十的学校。你会发现不仅公司不同，而且就算同一家公司在不同的学校出现他的招生比率也不同。不同公司侧重不同类型的学校。在选校时一定得搞清楚。看一下你报考的学校进你心仪的公司的比率是多少。
Top 10
MIT Sloan Top 15 recruiting firms that hired the most graduates in 2003:
| Full-time MBA students | 776 |
| Firm | Graduates Hired |
| 1. McKinsey | 26 |
| 2. Boston Consulting Group | 11 |
| 3. Bain & Co. | 10 |
| 4. IBM | 8 |
| 5. Citigroup | 6 |
| 6. Raytheon | 5 |
| 7. Intel | 4 |
| 8. Monitor Group | 4 |
| 9. Thomson Corp | 4 |
| 10. Amazon.com | 3 |
| 11. Microsoft | 3 |
| 12. Booz-Allen Hamilton | 3 |
| 13. Deutsche Bank | 3 |
| 14. Morgan Stanley | 3 |
| 15. Lehman Brothers | 3 |
| Full-time MBA students | 1,088 |
| Firm | Graduates Hired |
| 1. McKinsey & Company, Inc | 21 |
| 2. Citigroup | 17 |
| 3. Credit Suisse First Boston Corp | 15 |
| 4. Deutsche Bank | 15 |
| 5. Lehman Brothers | 14 |
| 6. Booz-Allen & Hamilton Inc. | 13 |
| 7. Bain & Company, Inc. | 10 |
| 8. The Boston Consulting Group | 10 |
| 9. J.P. Morgan Chase & Co. | 9 |
| 10. Morgan Stanley | 8 |
| 11. UBS Investment Bank | 8 |
| 12. A.T. Kearney, Inc. | 7 |
| 13. Bear, Stearns & Co., Inc. | 6 |
| 14. Deloitte | 6 |
| 15. Goldman, Sachs & Co. | 6 |
| Full-time MBA students | 1,250 |
| Firm | Graduates Hired |
| 1. McKinsey and Company | 38 |
| 2. Boston Consulting Group | 16 |
| 3. General Electric | 12 |
| 4. Johnson and Johnson | 12 |
| 5. A.T. Kearney | 8 |
| 6. Microsoft | 6 |
| 7. Morgan Stanley | 6 |
| 8. United Airlines | 6 |
| 9. American Express | 5 |
| 10. Goldman Sachs and Co. | 5 |
| 11. Booz Allen Hamilton | 5 |
| 12. Target Corporation | 5 |
| 13. Deutsche Bank | 4 |
| 14. General Mills | 4 |
| 15. Warner Brothers Entertainment | 4 |
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Top 10-20
| Full-time MBA students | 544 |
| Firm | Graduates Hired |
| 1. Citigroup | 11 |
| 2. Johnson & Johnson | 11 |
| 3. Deloitte Consulting | 8 |
| 4. American Express | 6 |
| 5. General Electric | 6 |
| 6. Honeywell | 6 |
| 7. Pfizer | 6 |
| 8. IBM | 5 |
| 9. Unilever | 5 |
| 10. Avaya | 4 |
| 11. Kraft Foods | 4 |
| 12. Lehman Brothers | 4 |
| 13. UBS | 4 |
| 14. A.T. Kearney | 3 |
| 15. Deutsche Bank | 3 |
| Full-time MBA students | 806 |
| Firm | Graduates Hired |
| 1. Johnson & Johnson | 11 |
| 2. Brunswick Corporation | 7 |
| 3. Deloitte Consulting | 6 |
| 4. Eli Lilly Company | 6 |
| 5. Goldman Sachs & Company | 5 |
| 6. Citigroup | 5 |
| 7. Mckinsey & Company | 5 |
| 8. Lehman Brothers | 4 |
| 9. Merrill Lynch | 4 |
| 10. Dell Inc. | 4 |
| 11. Dupont Company | 4 |
| 12. Proctor & Gamble | 4 |
| 13. BoozAllen Hamilton | 3 |
| 14. D&B | 3 |
| 15. General Mills | 3 |
| Full-time MBA students | 712 |
| Firm | Graduates Hired |
| 1. Dell | 21 |
| 2. Deloitte Consulting | 9 |
| 3. Frito-Lay | 6 |
| 4. Johnson & Johnson | 6 |
| 5. UBS | 6 |
| 6. Citibank | 5 |
| 7. HEB | 5 |
| 8. IBM | 5 |
| 9. American Airlines | 4 |
| 10. Samsung | 4 |
| 11. SBC Communications | 4 |
| 12. Capital One | 3 |
| 13. Exelon | 3 |
| 14. General Mills; Procter & Gamble | 3 |
| 15. Prudential Capital; Standard & Poor's | 3 |
Top 20-30
| Total graduate business students | 699 |
| Firm | Graduates Hired |
| 1. Johnson & Johnson | 5 |
| 2. IBM | 5 |
| 3. FTI Consulting | 4 |
| 4. PriceWaterhouse Coopers | 4 |
| 5. AVAYA | 3 |
| 6. Bank of America | 3 |
| 7. Bearing Point | 3 |
| 8. General Electric | 3 |
| 9. Kraft Foods Inc. | 3 |
| 10. Ford Motor Company | 2 |
| 11. Discover Financial | 2 |
| 12. Deloitte & Touche | 2 |
| 13. KPMG | 2 |
| 14. K Mart | 2 |
| 15. Target Corporation | 2 |
| Full-time MBA students | 599 |
| Firm | Graduates Hired |
| 1. Wells Fargo | 9 |
| 2. Deloitte | 7 |
| 3. Walt Disney Company | 6 |
| 4. Mattel | 5 |
| 5. Procter & Gamble | 4 |
| 6. Toyota Motor Sales | 4 |
| 7. KPMG | 4 |
| 8. Bank of America | 3 |
| 9. SBC | 3 |
| 10. Matshushita Avionics | 3 |
| 11. Guidant | 2 |
| 12. L'Oreal | 2 |
| 13. Nestle | 2 |
| 14. Ernst & Young | 2 |
| 15. MetLife | 2 |
| Full-time MBA students | 281 |
| Firm | Graduates Hired |
| 1. Eaton | 3 |
| 2. Ford | 3 |
| 3. IBM | 3 |
| 4. Procter & Gamble | 3 |
| 5. Raytheon | 3 |
| 6. United Technologies | 3 |
| 7. Air Products | 2 |
| 8. American Axle | 2 |
| 9. Eli Lilly | 2 |
| 10. General Electric | 2 |
| 11. Guidant | 2 |
| 12. Honeywell | 2 |
| 13. Johnson & Johnson | 2 |
| 14. Liberty Mutual | 2 |
| 15. NCR; Philip Morris; Eureka | 2 |
Top corp hire people from top school, that's always true. But that doesn't mean other schools are useless. It's depends on what you want from MBA program.
you may also consider INSEAD if you are targeting at consulting and IB
INSEAD Job Placement (Data from BusinessWeek 2006 MBA Profile)
Top 15 Recruiters (这里列出的已经是266个placement, 而不是offer)
Names of the top 15 recruiting firms (i.e., hired the most number of graduates in past 12 months) and the number of full-time MBAs hired:
McKinsey & Company hired 74
The Boston Consulting Group hired 40
Bain & Company hired 30
Deutsche Bank hired 18
Booz Allen Hamilton hired 13
Roland Berger hired 12
Barclays Capital hired 11
Google hired 11
Credit Suisse hired 10
BT Group hired 9
LEK Consulting hired 9
Eli Lilly hired 8
Lehman Brothers hired 7
Jonhson & Jonhson hired 7
Samsung hired 7
谢谢.
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