Here’s Why Goldman Sachs, Citi, Credit Suisse Are Snapping Up IESE B-School MBAs...

Pascal Michels likes to think of himself as a market maker. For some MBAs, technology firms have replaced banks as the employer of choice. But while investment banking is down as a career, it’s not out. “We make sure we educate MBAs about the opportunities,” says Pascal, associate director of career services at Spain’s IESE Business School. And the opportunities are seemingly plentiful. Investment bank recruitment has surged at IESE, beating all records since before the financial crisis in 2007/08. Bank of America Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, and Nomura are all recruiting, Pascal says. Thirty-one job offers were made by investment banks in 2016 to IESE’s MBAs, up from 22 the year before. Of the 61 IESE MBAs who applied for jobs at investment banks, 19 received at least one offer. Some received as many as four. Elle Connor, an associate recruiter at Morgan Stanley in London, says IESE is one of the investment bank’s three elite target schools. “The MBA profile brings something a little more niche to the floor, and has a more mature approach to certain situations. That’s why we continue to grow our MBA hiring,” she says. It is a similar story at Nomura. Sam Price, a Nomura graduate recruitment associate, says: “We target IESE Business School” along with two other European-based schools. Nomura values MBAs, he says, because “they can bring in some experience. The traditional route to the associate level would be through years as an analyst. An MBA is already at the associate level”. Andrea Hayem joined Morgan Stanley in June 2015 as a summer associate. The IESE MBA believes the business school was key to her landing the job. “Career services supports you throughout...

How to use an MBA to get a job at Goldman Sachs, JP Morgan, or Morgan Stanley...

It’s not as easy to ‘leverage’ an MBA and end up with a job in an investment bank as it was. These days, banks hire fewer MBAs than they used to, particularly into sales and trading roles. They also seem to be a lot more fussy about who they hire. Having said that, banks are still recruiting MBAs: the 2015 associate class is now in place at most leading US investment banks. Based upon the profiles of those who were hired this year, this is what it takes to convert your Masters in Business Administration into a job at a leading US investment bank now. 1. You’ll need to go to a top school There are plenty of rankings of top MBA courses for banking jobs, so it’s no surprise that the world’s top investment banks like to hire the world’s top MBAs. Rami Rankoussi, a new associate at Goldman Sachs, came from the London Business School. Zachary Upcheshaw, another associate at Goldman, came from Darden. Nancy Jiang, an investment banking associate in the TMT team at J.P. Morgan came from Kellogg. Zichao Du, an investment banking associate at J.P. Morgan in Hong Kong, came from MIT Sloan… 2. You’ll probably need past exposure to finance An MBA is supposed to be a vehicle for a change of career, and you can use the course to re-orientate your role, but most of the associates in our sample had some prior finance experience. Take Kate Lee, a Morgan Stanley associate who took an MBA at the Stephen M. Ross School of Business at the University of Michigan and previously spent five years working as an associate in at Woori Securities and Daiwa Capital Markets. Or take Rankoussi, who was a...