Top investment banks like Goldman Sachs, JP Morgan, Morgan Stanley are always hunting for top talents from target schools. Schools like Wharton, NYU Stern, Columbia, Cornell are favorites for their strong alumni network and close proximity to Wall Street. However, rankings don’t tell the full story. Schools like UMich have been rising while Columbia and Yale dropped off top 10 in recent rankings. Success also depends on early career planning, networking and interview preparations.
Wharton and NYU Stern have the strongest IB alumni presence
According to recent research by College Transition, Wharton and NYU Stern have the strongest alumni presence among top 9 investment banks. Together they make up over 15% of total bankers. This strong network facilitates recruitment and mentorship. Their location in NYC also allows frequent campus events by banks. However, Columbia dropped off top 3 this year despite its NYC location and strong alumni in Citibank.
Schools like Cornell and UMich are rising stars
Despite not having undergraduate business programs, Cornell has risen to top 3 in recent rankings, ahead of Columbia and Yale. Cornell has worked closely with banks by setting up dedicated finance career offices in NYC. UMich Ross has also jumped from #7 to #4, reflecting its growing talent pipeline to Wall Street.
Banks still heavily target some non-top ranked schools
School rankings do not fully reflect banks’ target schools. For example, UCSB and UT Austin are heavily recruited by tech firms and boutique banks like Evercore despite lower rankings. Location and alumni presence matter more than rankings for some banks.
Early planning and networking are key for IB prospects
Beyond target schools, IB prospects need proper planning such as identifying interests early, networking with alumni, and preparing for interviews well ahead of deadlines. Success requires seeing MBA as part of a career rather than just passing entrance exams.
In summary, recent investment banking feeder school rankings show Wharton and NYU Stern dominate with Columbia falling off top 3. However, target schools vary by banks and non-top ranked schools may be highly favored. Early career planning, networking and interview prep are essential regardless of target status.