FAQ 1. Are US MBA programs necessary for investment banking, or can international schools suffice?
US MBA programs are generally preferred for investment banking because they offer much higher salaries. Even top European MBA programs pay $50,000–$60,000 less (after adjusting for purchasing power), and top UK programs pay about $40,000–$50,000 less than US schools.
FAQ 2. Why target New York MBA programs for investment banking?
New York is the global financial capital and has the largest number of bulge bracket banks (such as Goldman Sachs and JPMorgan), leading middle-market firms (like Jefferies), and boutique banks.
FAQ 3. What challenges do Tier-2 MBA candidates face in New York for IB recruiting?
Graduates from Tier-2 MBA programs in New York are often viewed as lower-tier and need to pass 4–6 interview rounds instead of just 2–3 like candidates from stronger programs.
FAQ 4. How does Chicago compare to New York for IB careers post-MBA?
Chicago is a solid alternative to New York. It has about 30% bulge bracket presence (JPMorgan, Goldman Sachs, etc.), 20% middle-market banks, and 50% boutiques.
FAQ 5. What opportunities exist in Texas for IB with an MBA?
Texas (mainly Dallas and Houston) is dominated by boutique investment banks (about 75% of the market), with only around 5% bulge bracket and 20% middle-market firms.