What’s the best degree for entering finance? (UK)
I’m trying to figure out the most advantageous degree to pursue for breaking into a finance role, specifically in investment banking with a focus on M&A as my long-term goal. However, since I didn’t take A-level math, my options at top-tier universities for Accounting, Economics, or finance degrees are somewhat limited.
Would I be better off pursuing an Accounting and Finance degree at semi-target universities like Nottingham, Durham, or Exeter (especially if they offer placement years)?
Or should I consider studying more unrelated subjects, such as Chemistry or Biochemistry with management, at target institutions like UCL or Imperial?
Which option would set me up best for both my time at university and my goal of landing an investment banking role after graduation?
Any advice would be greatly appreciated!
(Just to provide some context: I’m currently studying A-levels in Chemistry, Biology, and Psychology and I’ll be applying to universities in September.)
One response
When it comes to breaking into investment banking, particularly in M&A, there are a few key factors to consider when choosing your degree. Here’s a breakdown of your options:
Target vs. Semi-target Universities: Generally, investment banks have strong recruitment ties with target universities like UCL, Imperial, LSE, and Oxbridge. Graduating from a target university can significantly improve your chances of landing interviews. Semi-targets like Nottingham, Durham, and Exeter are also respected, but you may face more competition coming from the top-tier schools.
Relevant Degree: A degree in Accounting and finance or Economics is much more relevant to a career in investment banking than a science degree. Employers in IB are looking for candidates with strong quantitative skills and an understanding of financial concepts. While studying Chemistry or Biochemistry with management can be valuable, it may require additional effort to demonstrate your interest and knowledge in finance.
Placement Years: If you can find a course at a semi-target university that includes a placement year in a finance or related role, that practical experience can significantly enhance your CV. Work experience in finance can help you establish connections, learn about the industry, and make you a more attractive candidate.
Alternative Routes: If you choose a less relevant degree (like Chemistry or Biochemistry), you might want to pursue internships or extra-curricular activities related to finance, such as finance societies, academic competitions, or part-time jobs in finance or Accounting to bolster your application.
Networking and Skills: Regardless of your degree, networking is crucial for breaking into investment banking. Establish connections with alumni, attend networking events, and develop skills like financial modeling and valuation through online courses or certifications.
In summary, while studying at a target university can be beneficial, choosing Accounting and finance at a semi-target uni that allows for strong work placements may better position you for a career in IB. You have a genuine interest in finance; thus, pursuing a degree that aligns with that interest is important, coupled with relevant experience and networking. Good luck!