Financial Target School: Where Investment Banks Recruit

For those who want to work in an investment bank, it is helpful to know where investment banks are looking for employees. So where do investment banks recruit? As it happens, the search range of major investment banks such as Goldman Sachs Group (GS) is relatively narrow.

Many college graduates are selected from a list of “target schools”. In these schools, investment banks focus most of their recruitment efforts on regularly appearing on campus and provide undergraduates with multiple interviews and summer internship opportunities.

At one of the top target schools, you can easily get interviews from multiple investment banks and log in to these interviews.

Key points

  • If you go to one of the top “feeder” schools recruited by major investment banks, it will be easier to enter investment banks.
  • The three top schools that investment banks continue to interview and hire include the University of Pennsylvania, New York University, and the University of Michigan at Ann Arbor.
  • In addition to top schools, Harvard and other Ivy League schools are also key locations for investment banks to seek recruitment.
  • Students wishing to find a permanent job in an investment bank should consider trying the 12-week internship opportunities offered by many investment banks.

Investment Banking Major

As we all know, investment banking is one of the most difficult career fields to enter. Investment banking involves exciting mergers and acquisitions (M&A) transactions, as well as high salaries and bonuses, which make the investment banking career attractive and there are many competitive opportunities every year.

In the entire financial services sector, investment banking is a relatively small niche market. Compared with, for example, accounting or retail banking, there are not many jobs in this field. Therefore, the previous school with an established source of investment bank employees is a key advantage.

Famous school

University of Pennsylvania

The University of Pennsylvania is home to the famous Wharton School of Business and one of the top affiliated schools in the investment banking industry. However, as can be seen from the recruitment data of the top-ranked universities as a whole, there is an important point in the recruitment of investment banks, that is, each investment bank has its own list of preferred schools.

The University of Pennsylvania is one of the top schools of Goldman Sachs, Citigroup (C) and Credit Suisse (CS).

New York University

In terms of where investment banks hire new employees most often, New York University (NYU) is on par with the University of Pennsylvania. New York University is a top school for many investment banks, including Barclays (BCS), JPMorgan Chase (JPM) and Credit Suisse’s top school for new hires.

University of Michigan-Ann Arbor

The University of Michigan at Ann Arbor is another top branch school. The University of Michigan is the top school for boutique investment banking companies JP Morgan Chase and Goldman Sachs.

Other top schools

Ivy League schools are among the top many other schools targeted by investment banks, including:

  • Harvard
  • Yale
  • Cornell
  • Princeton
  • Colombia

Other well-known schools include the University of Michigan, Georgetown University, the University of Notre Dame and the University of Chicago.

For individuals who wish to work with a certain bank, it is important to remember that each bank has its own favorite sources of recruitment. For example, compared with the University of Pennsylvania, Bank of America (BAC) tends to provide more jobs to Cornell University and Vanderbilt University. Or New York University.

The importance of internships

Almost all major investment banks offer summer analyst internship programs for approximately 12 weeks. Students who can get one of the internship opportunities can not only gain valuable experience, but also have the opportunity to establish contacts in the bank, which can give them a huge advantage in the final recruitment decision.


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