What’s Next? Insights on SMU and Investment Banking Outcomes
I’m about to start my undergraduate journey this fall, and I won’t bore you with my admission story. I’ve secured direct admission to SMU Cox as a Distinguished BBA Scholar. I understand that SMU may not be considered a traditional target school for investment banking in the way some NYC schools are, and that the placement landscape is quite stratified—orgs like Alts, BIG, and Spindletop often dominate the outcomes, similar to how IU IBW operates.
I’m aware of the real risk of not making it into those firms, and I recognize that some of this risk could hinge on chance rather than effort or ability. Here’s what I’m confident about:
- SMU’s admission indicates I’m among the top students in their business school.
- I consider myself fairly competent (happy to share qualifications if requested).
- Over the last three years, I’ve gained valuable exposure to trading and the market, particularly in derivatives related to equity indexes and commodities—this has been a defining aspect of my life.
Recently, I’ve talked with people in quant and investment banking in Texas (from UT, Rice, and SMU) and discovered that more SMU graduates land front-office banking roles than I previously thought. Coupled with the placement data I’ve gathered and insights from peakframeworks, it appears that top outcomes are surprisingly strong compared to the school’s overall ranking and typical perceptions.
While there are challenges, I feel there’s an undervalued potential for someone like me. It seems the right tail of outcomes might be fatter than most anticipate or are willing to acknowledge.
That leads me to wonder: what are the outcomes for students who don’t get into the big three firms but still manage to excel in academics, networking, and internships? How significant is the drop in placement potential? I’ve researched enough to believe there’s decent upside even outside the big-name paths, but I’m unsure how much of that is genuine versus influenced by survivorship bias.
I’d love to hear your thoughts or personal experiences, especially from those who have navigated this space. Thank you!
One response
Firstly, congratulations on your admission to SMU Cox and on being recognized as a Distinguished BBA Scholar! That’s an impressive achievement, and it sounds like you’ve already put in a lot of effort to prepare yourself for a successful career in finance.
Navigating the world of investment banking (IB) can undoubtedly feel daunting, especially when you’re aware of the competitive landscape and the importance of networking and internships. It’s great that you have a strong background in trading and derivatives, as that experience will definitely help you stand out.
To address your concerns about outcomes outside the big firms: while securing a position at top-tier firms like Goldman Sachs or J.P. Morgan can be incredibly competitive, many factors influence your hiring potential, including your network, the internships you pursue, and how you present yourself throughout your studies. Many students from non-target schools or those who don’t land roles at the big firms still find rewarding opportunities in IB, corporate finance, consulting, and other financial services roles.
The Texas market, as you mentioned, has been known to offer solid options for graduates from SMU due to the growing finance sector in the region. Firms may be less rigid than those on the coasts about where they recruit talent, which can also work in your favor.
In terms of the “floor” when it comes to job placements—while not making it into a high-profile firm may feel like a setback, there are many paths to success in finance that don’t involve working for a Bulge Bracket bank. Students who excel academically, network effectively, and seek internships with smaller firms or in related fields still often find themselves in strong positions upon graduation.
The key is to stay adaptable and open to various opportunities. Focus on building a robust skill set, fostering relationships with professionals in your desired field, and actively seeking internships, even if they’re outside the traditional “big firms.”
Finally, keep in mind that many successful careers in finance have been built from less conventional paths. Staying proactive, considering all possible avenues, and maintaining a positive attitude can open doors you might not initially expect. Good luck, and enjoy your time at SMU!