Finance major + I-banking?

Question

Why are liberal arts Ivy League applicants considered "more qualified" than Finance majors from Top 20-30 schools for I-Banking?

How does a Finance major from a Top 20-30 school convey his/her credibility for the job?

Answer 1

I doubt that the top I-Banks hire many liberal arts students from Ivy League schools. They did go for my former finance students at Berkeley, Wharton and MIT, though.

My advice is to take as many math and statistics classes as you possibly can. Get a job -- any job -- in I banking. Work for three or four years & apply to top MBA programs.

Answer 2

An excellent question with, unfortunately, a prejudicial answer, but here goes. You may already have a suspicion that these particular Ivies are well connected, call them members of the "White Shoe Club" or old money, take your choice. They don't actually do the "work", they are the front people, the closers. Guess who trains them? Guys like you, who do all the analytics, run all the numbers, set the pricing etc.
So how do you get in? By getting into their portfolio management side, research side or other daily revenue stream activity. Or, you may decide to go with a smaller investment house that is more interested in brainpower and results, they don't pay as well, but it can be a good launch pad for a career.
By the way, both my brother and I went to pretty good schools, top10% in our class, got in at the "basement level" and managed to teach "art, french, history and litery majors" all about finance. The kicker was, they were making a lot more than us and we were teaching them!? Talk about class distinction! Well, better luck for you, just know what you are up against.