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How Hard is it to Get Into Investment Banking? - YouTube
Channel: Wall Street Mastermind - by Sam Shiah
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Why would you need a coach just to help you
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get a job? Why can't you get this job on your own?
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Like I never had a never had anyone help me
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get my job, right? And this is exactly why...
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So I want to show you guys some pretty mind blowing
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data, okay? Specifically around just how selective
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it is to break into investment banking because
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as we all know investment banking is extremely
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hard to get into. And even though everyone
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kind of knows that after having spoken to
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thousands of students and parents of the students,
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I think what most people don't understand is
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just how difficult it to actually break into this
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specific industry, okay? So I'm going to compare the
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acceptance rate of some of top investment banks
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in the world to the acceptance rate of some of the
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most elite institutions in the United States, okay?
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So the first group I want to start with is the M seven
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MBA program. So these were widely considered to be
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the top seven business schools in the country, right?
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And so that's this blue group right here that you see
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on the on this chart and the most selective one is
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Stanford, and they only accept about 6.7% of
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their class. And this is based on class of 2021, okay?
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Which is the most recent year that we have data for
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all the way to Kellogg, which is, basically Northwestern,
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right? Northwestern University's business school
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they accept up to 26% of their applicant pool so
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that's actually one out of four which is not too bad,
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right? So you'll see that the top seven business schools
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it's anywhere from 7 to 26% and the average or the
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median actually is about 19%, okay? So about one
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out of five which is pretty selective but not too bad.
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Then you look at the underground level and so
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for the underground level I think, the best group
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to look at when it comes in the elite institutions
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obviously the Ivy League schools, right? So driving
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the schools, it's not a surprise that the hardest one
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to get into is Harvard, right? And they come in
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with 4.5% that's what the percent of applicants
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that they actually accept all the way up to Cornell
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which is go include the easiest one to break into
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and they accept 10.6% of their applicant pool and
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this is based on their class of 2023 acceptance rate
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which again is the most recent data that we have
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as of today, okay? So okay, that looks a lot lower
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than some business schools so getting in college
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is actually... the top colleges is harder and look
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that's not surprising is because these colleges are
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also getting a lot more applicants than the top
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business schools, right? And so of course the
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percentage is gonna be lower in terms of acceptance.
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Now, let's look at the third category which is
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professional sports, okay? The percentage of NCAA
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division one athletes that actually get drafted
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into either the NBA, NFL, NHL or MLB, okay?
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So there's the four major sports, right?
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The lowest is the NBA at 1.2%. The NFL follows
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that at 1.6%, the NHL 7.4%, MLB, 9.9%, okay?
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And so anywhere from 1.2 to 9.9%, but specifically,
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I want to call your attention to the NBA and NFL
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this is the two most popular sports leagues, right?
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there in the 1 to 2% range, okay? And so I know that
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that growing up, I always... was funny I actually,
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my childhood dream was to become a professional
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basketball player in the NBA, right? until I quickly
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realized probably when I was a teenager that
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I'm probably just not talented enough and don't
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have the God given abilities to play in a league like
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that right? However, you know, we all know just how
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difficult it is to break into a professional sports
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league right? Now, let's look at how difficult it actually
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is to break into some of the top investment banks
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in the world, okay? Again this is only based on publicly
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available data, right? Because not all banks disclose this.
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So first, let's look at Goldman Sachs, okay?
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Goldman Sachs had 270,000 applications in 2019
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and they hired about 2,800 people, Okay, so that's
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a 1.3% acceptance rate actually, lower than even
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the MBA, right? then we look at Morgan Stanley
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they had 96,000 applications where... and out of
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that pool they hired 1,300 people and so that's 1.35%
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slightly higher still, right? In line with the acceptance
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rate or the percentage of people that get drafted
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in the NBA and the NFL, right? Then we look at
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Citi which is another bulge bracket bank, right?
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this data is just for their London location because
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they didn't disclose the data for the global numbers
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but even just in the UK alone they got over 22,000
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applications. They only accepted 256 people that's a
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1.14% acceptance rate. Last but not least Deutsche
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Bank, okay? Even Deutsche Bank which is a bank
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that's been, you know... cutting headcount recently
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and not doing so hot in the last couple of years.
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Even back in 2018 they still got over 110,000
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applications and out of that pool of candidates
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they only hired 800 people which is 0.72%, okay?
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So just in case you think I'm making all these numbers
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up, I've clearly listed all of my sources at the bottom
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of the slide so you can see the exact articles or
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websites that I got these statistics from these are
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not made up numbers, okay? And so the take away is
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that look, to get into investment banking it's actually
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harder than breaking into a top business school.
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Getting into an ivy league undergrad and its on par or
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even slightly harder, statistically speaking not saying,
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you know from a physical standpoint but this is
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statistically speaking It's on par or even slightly harder
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than going from being a college athlete to becoming
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a professional athlete, okay? So this really answers
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the question that I actually get from a lot of parents
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because a lot of times after the students speak
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with us and they wanna work with us and they want
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Wall Street Mastermind's help in terms of breaking
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into investment banking they have to go speak to their
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parents about it and parents don't understand
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like well, why do you even need help? Like why do you
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need to use something like Wall Street Mastermind?
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Why would you need a coach just to help you get a job?
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Why can't you get this job on your own? Like I never
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had anyone help me get my job, and this is exactly why
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because if you look at all these different categories
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that I just showed you, think about top business schools
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It's very, very common for business school applicants
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to actually hire MBA consultants, MBA admissions
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consultants who previously used to work in the
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admissions offices of these schools, right? Because
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it's very, very hard to get into these institutions.
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But if you can get in it's worth a lot, right? The ROI
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is massive on that investment. Now, same thing
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for undergrads, right? Like a lot of people would
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actually hire college admissions consultants.
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Same idea, right? To help them get into the
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Ivy League schools and what not.
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Even, you know, professional athletes, right?
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We don't ever hear people question why professional
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athletes need coaches to help them along the way
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like even if you're Lebron James, okay? Tom Brady,
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or pick whoever you want. To go from you know,
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being an amateur athlete to becoming a pro athlete
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and being at the pinnacle of your profession even
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the most gifted athletes in the world, they've all had
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help from coaches, strength trainers, nutritionists, just
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you know, all sorts of mentors along the way, right?
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Because anybody who wants to be successful has most
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likely had a mentor along the way who helped him
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get there, right? Most people don't get to the top
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of the mountain on their own right? And so this is
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not kind of like a popular thing to do or a widely
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commonly seen thing yet as far as investment banking
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recruiting goes. But you know, here at Wall Street
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Mastermind our goal is to change that right?
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Because we know how many students are out
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there who just totally struggling with knowing what
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to do to break into this industry and struggling to
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stand out from all the competition that's out there and
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they just need a little bit of guidance, they're very
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hardworking, talented they're very.., they're very
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ambitious and if they just had some one point them
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in the right direction, they're gonna put in the work
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and they know that they can break into even the most
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elite and prestigious firms, you know, in the world,
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right? And once they're able to do that, that's gonna
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help their entire career take off completely, right?
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It's gonna alter the trajectory of their career we're
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basically making the slope of that trajectory a lot
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steeper, okay? And so just wanted to share this
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with you guys. these numbers were pretty mind
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blowing when I first came across them and I think
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hopefully you found this to be informative too.
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All right.
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Hey, there.
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I hope you enjoy this video.
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If you're looking for more customized devices
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tailored for your specific situation thin,
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I invite you to book free strategy session
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with our team at the link below.
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We'll talk to you soon.
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