Readers often ask us whether certain “Investment Banking Qualifications” is required.
Here are our answers in the form of these frequently asked questions.
Investment Banking Qualifications
1. Do I need a quantitative major to get into banking?
No. While there are a good number of Wharton graduates in our analyst class, many of our peers have liberal arts major… history, English, Philosophy… you name it, they have it.
Junior bankers are responsible for drafting the presentation books and lots of memorandums. Good English is in fact as important as solid quantitative skills.
The bottom line is that you have good logic and shouldn’t hate numbers.
2. Are good grades a must to get picked for interviews?
Essentially yes. Make sure your GPA is 3.0 or above by the time you go for your interview. Good grades save you from “easy” elimination by recruiters. Having said that, you certainly don’t need a perfect GPA.
3. Are accounting classes a prerequisite for investment banking interview consideration?
No. I didn’t and I understand many of my fellow colleagues didn’t. However, I did take an accounting class before I graduate (but after I got the offer) just to get myself familiar with the rules.
Bulge bracket firms provide a one-month training at the beginning of the analyst program.
4. I come from “non-target” schools. Do I have any chance at all?
Yes, but you’ll need to work a lot harder. Those considered target schools by recruiters have the advantage of getting the most updated information from their career placement center as well as the convenience of interviewing on campus, but alumni from the same school. Understandably, they have more alumni working in the industry as well.
If you have the commitment and do all your preparation required, you have a good chance to shine in the interview and succeed.