The qualifications question

22 February 2008

3 minute read

Do you really need a first from Cambridge and 500 UCAS points to scoop a job as a graduate trainee in an investment bank?

The answer is no, but you'll still need to be fairly hot academic stuff. How hot? We wrote to every bank asking what they look for exactly. They didn't all respond, but here's what we got from those that did...

Citigroup

UCAS points: All programmes require 320 points, except technology which requires 298, or operations, which requires 240.

Degree class: 2.1. A strong master's degree and extenuating circumstances may help eclipse a 2.2.

Dresdner Kleinwort

UCAS points: Dresdner requires candidates to achieve a minimum of 320 UCAS points.

Degree class: Candidates are required to have a 2.1 or above. This holds for all business lines. Mitigating circumstances will be taken into consideration, but typically a 2.2 would not be overcome by a student continuing study with an MSc.

Goldman Sachs

UCAS points: No minimum.

Degree class: No minimum.

Greenhill

UCAS points: Minimum of 360.

Degree class: 2.1. A 2.2 will be considered where there are extenuating circumstances.

JPMorgan

UCAS points: Minimum of 320.

Degree class: 2.1 unless there are extenuating circumstances. A 2.2 may be overcome with a strong postgraduate qualification, but this isn't a given.

Human beings (instead of computers) are used to process all of JPMorgan's online applications. This allows it to take into consideration nuances that might be missed by computers programmed to reject anyone who doesn't fulfil certain criteria.

Lazard

UCAS points: Minimum of 320.

Degree class: 2.1. A 2.2 will be considered where there are extenuating circumstances.

Merrill Lynch

UCAS points: No minimum, but 'good' A level grades are expected.

Degree class: 2.1 or above. The bank is open to applicants from all degree disciplines. However, in areas like HR, a 'relevant' degree will be required, and applicants to technology roles will need to demonstrate a 'genuine' interest in technology.

Morgan Stanley

UCAS points: Morgan Stanley does not stipulate academic minimum standards. However, it would consider 320 and above a good UCAS result. If a student has fewer UCAS points than this the bank will seek to understand their abilities through other activities highlighted in their CV.

Degree class: Morgan Stanley does not stipulate a minimum class of degree.

UBS

UCAS points: All programmes require 300 UCAS points.

Degree class: UBS does not stipulate the class of degree to be achieved and this holds across all business areas.

AUTHORSarah Butcher

Global Editor

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Amy
9 June 2008
anyone has any idea about how to convert asia high school qualifications to UCAS points? i was always at the top in my country, but how shall I convince the recruiters abt. it? also am doing my MSc. in Fin at birkbeck. is there any chance for me to kick off?
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Franibal
15 May 2008
Ahem, I've just been moved to intervene by this debate. I'm in the 3rd year of my degree and I went to a school which has subsequently been turned into an infamous academy. It is, and was, officially one of the worst schools in the country. I made the choice to take things into my own hands and I came out with a string of A*/A's at GCSE and 3 A's at A-level and I will come out with at least a 2:1 from UCL. I'm not tooting my own horn; I firmly believe that if you are motivated and intelligent enough, no matter what school you go to, you WILL achieve the highest grades possible. Rich kids have a head-start, undeniably, but anyone can catch up.
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An
Anon
7 May 2008
I went to a state school/college, got 240 UCAS points, went to City University, and I got into Citigroup and Barclays Capital (I have now worked for both), and have been turning down other banks such as Deutsche, Goldmans and UBS. I was taken in due to confidence and extra curricular activities.. It just shows, doesn't matter what grades you get, or what school/university you go to, you can still get into investment banking if you try hard enough...
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Ca
Calisto
15 April 2008
Hi I am trying to get into the banking industry with little success. I cant even succeed in applying for back office jobs. Can anyone recommend banks I can approach or try applying to? thank you
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Lu
Luke, Educated at a bottom 10%
12 April 2008
excellent! some fantastic points made here which i see raised elsewhere all too rarely! As my name suggests i attended a state school where the GCSE pass rate of 5 A-C was just 23% in my year. I went on to attain 340 UCAS points, again at an average state 6th form college. I entered university at lancaster, usually a top 20 in most league tables, so by no means a top institution, and almost immediately was astounded at the lack of intelligence amongst many of my peers who possessed similar A Level grades to me. The entire system, perhaps inadvertantly, constantly places huge obstacles in the way of working class offspring like myself, particularly the lack of guidance received when considering university applications and longer term career prospects. Consequently, i have found it difficult to try and secure an internship or any work experience, as for me it isnt as simple as one of my parents "having a word" with an old friend.
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