Does it matter what school you go to?

[ConnorDrax]

I'll be graduating from an in state college this December with degrees in both computer science and physics. I want to get into finance, but I have no financial background. Will I still be able to be a banker or a quant someday even though I went to a state college instead of a school like Harvard or Yale?

 

[Andy Nguyen]

There are many successful professional in finance coming from state and public colleges. Many members here can tell you that.

 

[mhy]

Yes, but you will have to work harder, because recruiters and employers won't come to you - you have to go to them. You will also want to network with alumni as much as possible.

Do you have a summer internship?

 

[randomquant]

Unfortunately you will have an uphill journey, not impossible, but certainly harder. First of all you will need to network in order to get you initial interview, get someone to put you resume on the pile; this is a lot easier for target school students because of the alumni network and prestige of the school.

Now, once you have the initial interview is all on you, interviewers will be more concerned about your fit for the role. Unfortunately, defining fit is also an uneven fight as there might be a bias from alumni to prefer their colleagues (or people from schools they recognize from their own coworkers), so you will have to demonstrate distinctive skills, superior enough that interviewers will be more excited to have you than a colleague.

Once you get the job (or internship) it will be mostly up to you, I wish I could tell you that school you went to doesn't matter anymore but it plays a small role once you start working, but nevertheless talent, hard work, and a great personality are much more relevant once you are inside.

 

[MRoss]

It's all about your first job. If you can secure a great job even from a no name college, the rest of you career will be smooth sailing.

Therefore, if you trust in your networking skills, go to the college that offers the best bang for your buck (in terms of cost and education) rather than name. If you are terrible at marketing yourself, you might need that name for the extra boost.

 

[pingu]

It's all about your first job. If you can secure a great job even from a no name college, the rest of you career will be smooth sailing.

Therefore, if you trust in your networking skills, go to the college that offers the best bang for your buck (in terms of cost and education) rather than name. If you are terrible at marketing yourself, you might need that name for the extra boost.

Is it really depending on your first job? Where did you go to school? What was your first job out of college?

Sadly going to a famous college as an undergrad gives you a head start if you are from the middle of the pack.

 

[IntoDarkness]

the reality is that coming from an ivy league or mit caliber school makes people doubt you less. If you have a phd from this type of school, people dont even ask hard technical interview questions. this reality is just sad but will remain part of life

 

[MRoss]

Is it really depending on your first job? Where did you go to school? What was your first job out of college?

Sadly going to a famous college as an undergrad gives you a head start if you are from the middle of the pack.

Goldman Sachs S&T would rather hire a city college grad with 2 years S&T experience at Morgan Stanley than a Harvard grad with 2 yrs experience at XYZ fund.

 

[mhy]

Goldman Sachs S&T would rather hire a city college grad with 2 years S&T experience at Morgan Stanley than a Harvard grad with 2 yrs experience at XYZ fund.

It's also true that it is much, much more difficult for the city college grad to get into Morgan Stanley S&T than for the Harvard grad to get into XYZ fund.

School matters tremendously to secure the first job. If your school doesn't have on-campus recruitment it is very difficult to get a front-office job at an investment bank (not impossible, but very difficult). Even networking has its limits; you've got to be an absolutely stellar student and candidate to have a shot.

After the first job, the above quote applies.