Hi everyone! I’m currently planning my university studies and really want to work in investment banking after graduation. I know that having connections and going to a well-known school are super important for landing jobs at major IB companies.
I’m trying to decide between these degree options:
- Finance and Accounting double major
- Law and Finance combined degree
- Business degree with Finance concentration
I already got accepted for a Finance & Accounting program at one school.
I keep hearing different advice from people. Some tell me that combining Law with Finance demonstrates good problem-solving and business thinking abilities. Others think Finance plus Accounting is more hands-on and could help me get hired through large accounting firms first. The regular Business and Finance path seems safer but maybe harder to stand out without great work experience or industry contacts.
Is anyone here actually working at an investment bank or went through this hiring process before? What degree background worked best for you?
Really hoping to get some real-world perspective on this. Thanks for any help!
lol everyone acts like your major is some magic bullet for getting into IB. truth is, unless you’re at wharton or harvard, you’re gonna be grinding regardless of what fancy degree combo you pick. seen plenty of finance/accounting kids get rejected while some random history major with daddy’s golf connections walks right in. but if i had to choose from your options, law + finance sounds like overkill and way more work for marginal benefit. stick with what you got accepted for already.
honestly, the degree isn’t everything. i got into IB with just an econ major from a non-target school. what really matters is networking hard, keeping your GPA above 3.7, and securing relevant internships. finance/accounting is great for skills tho. just focus on that and connections.
The Problem:
You’re trying to choose a university degree that will best prepare you for a career in investment banking, considering a Finance & Accounting double major, a Law and Finance combined degree, or a Business degree with a Finance concentration. You’ve already been accepted into a Finance & Accounting program, but are unsure if it’s the optimal choice given the importance of networking and connections in the IB industry. You’re seeking advice from professionals with experience in investment banking.
Understanding the “Why” (The Root Cause):
Many believe a specific degree is a “magic bullet” for landing an investment banking job. This is largely untrue, especially if you’re not attending an Ivy League school. While a strong academic background is essential, the reality is that success hinges on several other factors, including networking, internships, and GPA. The perceived advantages of different degrees are often overstated. For example, a Law & Finance degree might seem impressive, but the added workload and potential scheduling conflicts can negatively impact your ability to participate in crucial internship programs and networking events during your undergraduate years. These are critical opportunities for making the connections needed to break into the industry.
Step-by-Step Guide:
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Leverage Your Existing Acceptance: You’ve already been accepted into a Finance & Accounting program. This is a significant advantage. Finance and Accounting provides a strong technical foundation in financial modeling, valuation, and accounting principles – skills that are highly valued and frequently tested during the investment banking interview process. The depth of knowledge gained in these areas significantly aids in performing well in case studies and modeling tests.
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Prioritize Networking and Extracurricular Activities: Invest significant time and effort into building your professional network. Actively engage with your university’s alumni network, particularly those working in investment banking. Join finance clubs, attend industry events, and seek out mentorship opportunities. These are far more influential than the specific degree combination you choose.
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Maintain a High GPA: Investment banks scrutinize academic performance. A high GPA demonstrates your capability and work ethic, which are important factors in their hiring decisions. Aim to maintain a GPA above 3.7.
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Secure Relevant Internships: Actively seek internships at investment banks or related financial institutions. These provide invaluable practical experience and networking opportunities. Competitive internships can significantly enhance your chances of securing a full-time position after graduation.
Common Pitfalls & What to Check Next:
- Don’t Overestimate the Degree’s Impact: The specific degree is less crucial than your skills, experience, and network. Focus your efforts on building those three pillars.
- Network Strategically: Don’t just attend events; build genuine relationships with professionals in the field.
- Develop Strong Technical Skills: Master financial modeling, valuation, and accounting. These are in-demand skills for any financial institution.
- Tailor Your Resume and Cover Letter: Highlight relevant skills and experience, showcasing your understanding of the investment banking industry.
Still running into issues? Share your thoughts on your networking strategies, internship experiences, and academic performance. The community is here to help!
I’ve recruited directly for bulge bracket investment banks, so here’s what I’ve seen from the hiring side. That Finance and Accounting double major you got into? Perfect foundation. You’ll get the technical skills we expect - financial modeling, valuation, and accounting principles that drive IB analysis. Sure, Law and Finance sounds impressive, but it creates scheduling nightmares. Students can’t make crucial recruiting events during junior year because of law school conflicts. IB recruiting runs on strict timelines, and missing networking events or info sessions will hurt you. What really matters is showing you can handle numbers, understand markets, and lead through extracurriculars. Crush your grades in Finance and Accounting while building relationships with alumni at target firms. Those technical skills will pay off during case interviews and modeling tests - that’s where candidates get separated.
Went through recruiting a few years back - Finance/Accounting was clutch for technical interviews. Had friends who did business with finance concentration and they got wrecked by the accounting-heavy case studies banks love. The double major sounds brutal but it’s perfect prep. You’ll crush DCF models and credit analysis while everyone else is lost. Don’t overthink it though - your school’s alumni network in finance matters way more than which major you pick. You’re already accepted, so roll with it and focus on joining finance clubs early.