From Goldman Sachs to Morgan Stanley, investment banks are among the biggest recruiters of MBA graduates. But what are the best MBA programs for investment banking careers?
According to the new research from Menlo Coaching, Columbia Business School tops the list, with more Columbia MBA graduates hired by investment banks than MBAs from any other business school.
As part of the elite group of M7 business schools, Columbia saw a total of 99 graduates from its MBA program find jobs in investment banking in 2020.
After Columbia, NYU Stern provided 77 graduates to investment banking, although this was a higher proportion of its overall class, at 21% compared to Columbia’s 13%.
The two best MBAs for investment banking are both based in New York, a sign that location is key if you want to land a top job in investment banking.
The third-largest provider of investment banking MBA graduates in 2020 was the University of Chicago Booth School of Business, with 61 graduates; 34 of them found a job in New York.
The top 10 MBAs for investment banking are all based in the United States; the highest ranked non-US school in Menlo’s list is London Business School in 12th place.
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Columbia has also placed more students at the world’s top investment banks than at any other school. A total of 56 Columbia MBA graduates have found jobs at top companies such as Morgan Stanley, Goldman Sachs and JPMorgan Chase, known as bulge banks.
NYU Stern has seen 51 students employed in bulge banks, while the University of Chicago Booth School of Business has placed 34 graduates.
Other schools had a higher proportion of bank students with secure roles in the competitive bulge bracket. Duke University’s Fuqua School of Business had just 25 students who found bulge-shaped jobs, but that accounted for a whopping 93% of all graduates who got into banking. The 56 bankers in Columbia’s bulge bracket accounted for 57% of all banking graduates.
Other business schools with a high proportion of banking graduates joining the bulge bracket were the University of Michigan’s Ross School of Business with 82% and the University of South Carolina’s Marshall School of Business with 78. %.
The best MBAs for elite investment banks
The bulge slice isn’t the only desirable destination if you’re looking for a career in investment banking. Places in elite boutiques specializing in specific areas of investment banking and offering a more personalized service are also in demand.
These boutique investment banks include Centerview Partners, Evercore and Greenhill & Co.
Menlo’s research found that Columbia also had the most graduates (35) securing elite boutique roles in 2020. The Wharton School at the University of Pennsylvania was second with 26, while Chicago Booth and NYU Stern came third and fourth with 18 and 17.
Wharton’s figure was 44% of all investment banking placements, giving it the highest proportion of banking graduates finding jobs in elite boutiques. The Kellogg School of Management at Northwestern University and the McCombs School of Business at the University of Texas at Austin came second and third with 41% and 38%.
Want one of the highest paying jobs in finance?
Elite boutiques and bulge banks are some of the most competitive areas of investment banking to aim for if you’re an ambitious student looking for a career in the industry.
Schools that send most of their students to work in these sectors are worth considering. All 100% of investment banking students at Duke Fuqua and the Marshall School of Business at the University of South Carolina have found positions in elite banks and boutiques. 97% of students at the University of Virginia Darden School of Business did the same.
If you’re looking to find a high-level job in investment banking, these MBAs are a great option.