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Where Wall Street Gets Its Finance MBAs

The iconic bull on Wall Street roars loudest at Columbia Business School

DON’T MISS CONSULTING INDUSTRY’S TOP FEEDER SCHOOLS and TECH FIRMS GET THEIR MBA TALENT FROM THESE SCHOOLS

  • Cavalry Vet

    I don’t work at Credit Suisse, if that’s what you’re trying to suggest. I work at a firm that actually generated more IB revenue this year. Feel free to do some research on that.
    But I just did a linked in search for Stern and Goldman Sachs–488 people.

    So if anyone is reading this other than “Biased Financeguy” please know NYU is great for any of the Bulge Brackets. Just do some research on the school you’re interested and don’t just believe things because some internet troll told you otherwise.

  • Biased financeguy

    Sure NYU is great for credit suisse. Not for Goldman though.

  • Cavalry Vet

    Work at a BB IB, we have a ton from NYU–so he’s not being biased. In fact, at my particular bank, Stern might have an edge over CBS.

    (I’m going to Booth, so unbiased in this fight)

  • Biased financeguy

    Did you go to NYU?

  • financeguy

    Seems accurate

    The top schools to go for finance tend to be CBS, Booth, NYU, Cornell, and Wharton

    Also HBS and Stanford

  • Anonymous

    The below numbers are accurate and can be verified by publicly available employment report and LinkedIn.

    Number of 2017 internship hires at all bulge bracket banks and a few MM/boutique:

    GS: Col 17, Chi 13, Kellogg 6
    MS: Col 12, Chi 12 , Kellogg 3
    JPM: Col 14, Chi 10, Kellogg 4
    BAML: Col 12, Chi 13, Kellogg 7
    Citi: Col 11, Chi 3 , Kellogg 3
    CS: Col 7, Chi 5, Kellogg 1
    DB: Col 3, Chi 2, Kellogg 1
    Barclays: Col 5, Chi 3, Kellogg 2
    UBS: Col 3, Chi 3, Kellogg 1
    Evercore: Col 3, Chi 7, Kellogg 3
    Lazard: Col 7, Chi 3, Kellogg 1
    Guggenheim: Col 4, Chi 3, Kellogg 0
    Macquarie: Col 3, Chi 3, Kellogg 0

  • Anonymous

    Each of the numbers listed below are accurate. Please feel free to verify it with publicly available Kellogg employment report (which lists firms that recruited 3 or more students) and LinkedIn and current students. There were only four banks that hired 3 or more interns as per employment report. Please tell me which banks recruiting number is incorrect and I will gladly correct it?

    Number of internship hires at all bulge bracket banks and a few MM/boutique:

    GS: Col 17, Chi 13, Kellogg 6
    MS: Col 12, Chi 12 , Kellogg 1
    JPM: Col 14, Chi 10, Kellogg 4
    BAML: Col 12, Chi 13, Kellogg 7
    Citi: Col 11, Chi 3 , Kellogg 3
    CS: Col 7, Chi 5, Kellogg 1
    DB: Col 3, Chi 2, Kellogg 0
    Barclays: Col 5, Chi 3, Kellogg 2
    UBS: Col 3, Chi 3, Kellogg 1
    Evercore: Col 3, Chi 7, Kellogg 3
    Lazard: Col 7, Chi 3, Kellogg 1
    Guggenheim: Col 4, Chi 3, Kellogg 0
    Macquarie: Col 3, Chi 3, Kellogg 0

    To be sure Kellogg is much stronger than every other school in recruiting in consulting, tech and CPG. MBBD hired over 160 students including sponsored which is highest amongst any school as a percentage of class size. The range of tech firms that hire from Kellogg is truly astounding. Kellogg has always been #1 in recruiting for CPG. Also the collaborative culture at Kellogg is unmatched.

    The recent weakness in banking recruiting is because Credit Suisse, Deutche Bank, JP Morgan, Jefferies, Macquarie Capital, RBC Capital, BMO Capital, Guggenheim, etc that previously used to conduct ON CAMPUS INTERVIEWS at Kellogg no longer do.

    Kellogg is a fantastic program overall and I would strongly recommend it to everyone because of it’s unique culture and the breadth of employers it attracts on campus.

  • Richie Q III

    kellogg was sort of relevant maybe in the 80s , doesn’t matter now so don’t worry about that

  • kellogg2016

    The kellogg numbers listed here are wrong. The IB club at Kellogg reported that 90% of people who interviewed for banking got offers last year. Not sure source of posters figures, but it’s either incorrect or incomplete data.

    Joining clubs at kellogg is free, and you can join 20 clubs at once through checkboxes on our online portal…so it’s possible people during welcome week decided to click banking club (along with probably a bunch of other career clubs), but never actually recruited for it.

  • Anonymous

    John, your point makes perfect sense and my reasoning was the same. On the ground a very interesting dynamic also comes into play: Alumni at any firm have a very strong bias to recruit as many candidates as possible from their own school.

    So on the positive side that results in MBBD recruiting an insanely high 160+ students from Kellogg (including sponsored) because there are a lot of Kellogg alumni at all levels fighting to hire Kellogg students. So 95%+ people who want consulting get consulting. Similarly at tech/CPG firms, the preponderance of Kellogg alumni ensure that Kellogg students have a clear leg up in the recruiting process as compared to peer schools. Also much of the credit must go to the Kellogg CMC which does a phenomenal job in recruiting for consulting/tech/CPG/healthcare/manufacturing.

    However investment banking recruiting is the one area of improvement for Kellogg.
    The FT success rate was 50%-65% (35/65) as opposed to an average of 80%-90% at other top 15 schools because a lot of banks such as Deutsche Bank, JP Morgan, Credit Suisse, UBS, Jefferies, Lazard, Pipar Jaffrey, Macquarie Capital, BMO Capital Markets, RBC Capital Markets, Rothschild, Guggenheim Securities, Houlihan Lokey, Greenhill, American Express, etc – most of these firms used to conduct on campus interviews (OCR) at Kellogg until two years back but have suddenly stopped doing OCR which has hurt finance recruiting to a certain extent.

  • Thanks for sharing that intel. This also brings to mind something that everyone should know in interpreting these numbers. Often times, going to a school without a heavy percentage of graduates going into finance can be an advantage. You effectively have fewer people from the same school wanting the same job with the same firm, and the firm itself may want to recruit more widely so that it is no only hiring at Columbia, Wharton and Chicago Booth.

  • KelloggGrad

    Here are the internship figures compiled from employment report and student interaction.

    Class size: approximate number of students interested in internship recruiting at BB banks, MM banks and boutiques for IB and related roles.

    Columbia 120
    Chicago 100
    Kellogg 65

    Number of internship hires at all bulge bracket banks and a few MM/boutique:

    GS: Col 17, Chi 13, Kellogg 6
    MS: Col 12, Chi 12 , Kellogg 2
    JPM: Col 14, Chi 10, Kellogg 4
    BAML: Col 12, Chi 13, Kellogg 7
    Citi: Col 11, Chi 3 , Kellogg 3
    CS: Col 7, Chi 5, Kellogg 2
    DB: Col 3, Chi 2, Kellogg 0
    Barclays: Col 5, Chi 3, Kellogg 2
    UBS: Col 3, Chi 3, Kellogg 2
    Evercore: Col 3, Chi 7, Kellogg 3
    Lazard: Col 7, Chi 3, Kellogg 2
    Guggenheim: Col 4, Chi 3, Kellogg 0
    Macquarie: Col 3, Chi 3, Kellogg 0

    Total of above listed firms:

    Columbia: ~ 101/120 (~85%)
    Chicago: ~ 79/100 (~80%)
    Kellogg: ~ 33/65 (~50%)

    A few smaller firms who hired 1-3 candidates: Moelis, Wells Fargo, Jefferies, William Blair, Baird, etc

    Overall success rate when including firms which hired 1-3 candidates:

    Columbia: ~ 90%-100% (~ 110/120)
    Chicago: ~ 90%-100% (~ 90/100)
    Kellogg: ~ 60%-70% (~ 40/65)