Research programme of Elite Careers StrategyEmployer Census - 31 banks and advisory firms - Official-source research
Do investment banks have GPA cutoffs?
No single cutoff exists in what banks publish. Of the 31 investment banks and advisory firms in the Employer Census, 11 publish a university grade standard on at least one official route, and 8 state it as a requirement or minimum somewhere. The standard is set per programme and market: Bank of America publishes a hard minimum on one route and softer wording on another. For 15 no published grade statement was located, which does not mean no threshold is applied.
Investment banking and advisory: the census in numbers
| Investment banking and advisory | Employers (of 31) |
|---|---|
| Researched at least once | 31 |
| Any published grade evidence | 11 |
| Stated as a requirement or minimum | 8 |
| Stated as preferred or ideal | 2 |
| Described as usual or typical | 0 |
| Holistic, contextual or flexible wording | 3 |
| Explicitly no minimum | 0 |
| Process or scope note only | 2 |
| Evidence under evidence-chain review only | 0 |
| No published grade statement located | 15 |
| Official pages inaccessible | 5 |
| Not yet researched | 0 |
Rows overlap because one bank can publish different wording for different programmes and markets. UK degree classes and US GPA figures are not equivalent measures. Evidence retrieved 14 September 2026 to 16 September 2026.
What the banks actually publish
Stated as a requirement or minimum (8 employers)
- Bank of America (London; Global Investment Banking 2027 Summer Analyst - London): "On track for a minimum 2:1 degree classification (or equivalent)" Official source · SIG-369.
- Citi (United States / New York; Financial Strategy Group Full-Time Analyst 2027): "with a GPA of 3.5 or above" Official source · SIG-240.
- Citi (London; Banking, Investment Banking, Summer Analyst, London - United Kingdom 2027): "Expected to achieve or have achieved a 2:1 (or equivalent) at undergraduate level in any degree discipline." Official source · SIG-452.
- UBS (United States; Summer Internship Program): "You have a cumulative GPA of 3.0 or higher" Official source · SIG-236.
- UBS (London; 2027 Summer Internship - Global Banking - London): "is on track for a 2.1 (UK grading system) or equivalent in their first undergraduate / bachelor degree" Official source · SIG-917.
- UBS (London; 2027 12-month Industrial Placement - Asset Management - London): "is on track for a 2.1 (UK grading system) or equivalent in their first undergraduate degree" Official source · SIG-918.
- Deutsche Bank (United Kingdom; UK early careers eligibility (Let's Prepare page)): "You should also be on track for a 2:1 or First (or equivalent) in your undergraduate degree." Official source · SIG-519.
- BNP Paribas (United Kingdom; Global Banking Summer Internship): "You'll need to be on track for a 2:1 degree in any subject, and in your penultimate year" Official source · SIG-335.
- BNP Paribas (United Kingdom; Securities Services Summer Internship): "You must be in your penultimate year on track for a 2:1 degree" Official source · SIG-336.
- Lazard (London; London Intern and Analyst recruitment (2026 FAQs)): "You must have a minimum predicted or obtained 2.1 university degree classification (or equivalent if you studied outside the UK)." Official source · SIG-997.
- Lazard (London; London Financial Advisory graduate recruitment (Analyst, Internship, Industrial Placement, Spring Insight); historical cycle): "You must have a minimum predicted or obtained 2.1 university degree classification (or equivalent if you studied outside the UK)." Official source · SIG-681.
- Rothschild & Co (London; 2027 UK Global Advisory Summer Analyst Programme - London): "On track for a minimum of a 2:1 or equivalent in your university degree" Official source · SIG-826.
- Houlihan Lokey (London; Summer internship programme (Europe)): "We look for highly motivated individuals with a strong academic track record who are on course to achieve a 2:1 degree or equivalent." Official source · SIG-602.
Stated as preferred or ideal (2 employers)
- Bank of America (United States / New York; 2027 New York GCIB Regulatory Summer Analyst): "3.5 minimum GPA preferred" Official source · SIG-238.
- Barclays (United States / New York; Banking Associate Summer Internship Program 2027): "Ideally you'll have A GPA of 3.2 or above." Official source · SIG-242.
Holistic, contextual or flexible wording (3 employers)
- Deutsche Bank (Global; Programme Eligibility (students and graduates)): "We're looking for people of outstanding academic achievement, but we take a range of factors into consideration, not only a GPA or equivalent." Official source · SIG-517.
- Lazard (London; London Intern and Analyst recruitment (2026 FAQs)): "If you do not meet the criteria but there are extenuating circumstances pertaining to your results, we recommend that you submit an application and explain the situation on your form in the relevant section provided." Official source · SIG-998.
- PJT Partners (Global; Student programs): "We select well-rounded candidates who have strong and interesting academic backgrounds, have demonstrated curiosity" Official source · SIG-799.
Process or scope note only (2 employers)
- Deutsche Bank (Global; Programme Eligibility (students and graduates)): "In some countries, a minimum academic level is a requirement." Official source · SIG-518.
- HSBC (Global; Students and graduates programmes (FAQs)): "Academic requirements vary depending on the programme and location you're interested in." Official source · SIG-584.
Across the whole census
| Sector | Employers | Any grade evidence | Requirement or minimum | Preferred | Typical | Holistic | Explicitly no minimum | School-grade requirement |
|---|---|---|---|---|---|---|---|---|
| Investment Banking / Advisory | 31 | 11 | 8 | 2 | 0 | 3 | 0 | 3 |
| Private Equity / Private Capital | 33 | 3 | 0 | 0 | 0 | 3 | 0 | 0 |
| Hedge Funds / Quant / Trading | 24 | 1 | 0 | 0 | 0 | 1 | 0 | 0 |
| Asset Management | 20 | 6 | 4 | 0 | 1 | 0 | 2 | 0 |
| Venture Capital / Growth Investing | 22 | 1 | 0 | 0 | 0 | 1 | 0 | 0 |
| Strategy Consulting | 13 | 2 | 2 | 0 | 0 | 0 | 0 | 0 |
| Corporate Law | 42 | 24 | 20 | 0 | 2 | 9 | 0 | 9 |
| Professional Services (register context only) | 5 | 1 | 0 | 0 | 0 | 0 | 1 | 1 |
The census covers 190 employers. School-grade requirements (A levels, UCAS points, GCSEs) are counted separately from university grades.
Signals under evidence-chain review: SIG-176, SIG-226 are excluded from the counts and quotations on this page because their register passage does not yet fully support the published observation. They remain visible in the register with that status. Review opened 16 September 2026.
What this does not prove
- No published statement located does not mean no threshold is applied in screening.
- Preferred, ideal and typical wording is never counted as a requirement, and general phrases such as strong academic record are never converted into a grade.
- A published standard does not show how heavily grades are weighted against other evidence.
- Every code applies to the named programme and market only.
Data and method
Employer Census (JSON) · Evidence-strength codebook · Employer universe (CSV) · Methodology · Register
Codes are assigned per signal from the verbatim official passage by two blind coders, with disagreements settled under written rules that choose the code that claims less. An employer can appear under more than one code because codes describe individual programmes and markets, never the employer as a whole.
How to cite
Akram, H., Who Gets In? (Elite Careers Strategy), Do investment banks have GPA cutoffs?, Employer Census, https://whogetsin.com/questions/do-investment-banks-have-gpa-cutoffs