Getting into Harvard is no small feat, with just over 3.6% of the 54,008 applicants admitted into the College in the most recent class. However, incredibly low acceptance rates, intense applications, and extreme competitiveness don’t end with the College’s acceptance letter, especially if you want to join a pre-professional finance club.
In the first two to three weeks of school, the feeling of stress among freshmen applying to clubs was palpable. Entering a library on campus meant seeing hundreds of freshmen frantically pacing or frozen behind their computers researching companies and investments, working on slide decks with prospective pitches, and booking a quiet room for an interview. Harvard’s undergraduate student body seems to be overtaken by students wanting a career in finance, with many students seeming to think these clubs are the key to achieving their goals.
There are many different pre-professional finance-related clubs, each with hundreds of first-years who comp them and only a handful of spots. These clubs are incredibly popular and prestigious. Some of these organizations include Harvard Financial Analysts Club (HFAC), Harvard Undergraduate Consulting Group (HUCG), Harvard Undergraduate Consulting on Business and the Environment (HUCBE), and Harvard Undergraduate Venture Capital Group (HUVCG).
HUVCG takes the interest of hundreds of freshmen every year. “532 people signed up for comp. By the last round of the comp, we had around 100 compers, and we took 32 analysts,” said the Director of Recruitment, Harron Lee ’27. The number of students who applied for their comp would represent around 32% of the first-year class—a testament to the popularity and visibility of the club.
Jessie Pitsillides ’25, the Head of Education for HFAC, explained how HFAC differs from the other finance clubs. “We are a massive club, given just how many people we graduate every semester. We assume zero knowledge going in, which, I think, is pretty rare,” said Pitsillides. “And as such, it means that we are kind of people’s starting points.” HFAC is structured like a course at Harvard, with weekly sections and lectures to teach first years about finance. “This fall, which is my first fall teaching it, we have 374 [compers] currently,” said Pitsillides. Assuming most of these are freshmen, almost ¼ of the first-year class is comping HFAC.
These clubs are not without a rigorous process. Many students choosing to comp have to go through a written application, multiple meetings, research and preparation for investment pitches, and interviews—if they make it far enough. Yet, while these clubs might have some influence on securing a job in investment banking or venture capital, it is uncertain whether top firms actually prioritize participation in these competitive pre-professional organizations.
It seems the cycle of applying to incredibly competitive programs never ends. Goldman Sachs, a top finance firm, has an acceptance rate of less than 1%. Goldman Sachs CEO David Solomon explains that acceptance into Goldman Sachs is not just about one’s resume and intellect. “I’ll tell you one thing that we’re finding less and less inside the firm that I think is an important skill set, but actually we find it from students that come from Hamilton or other liberal arts backgrounds, is an ability to write,” Solomon answered during a panel in 2019.
Writing is one of the many skills that Goldman Sachs values, yet it is often overlooked due to the common assumption that only experience in finance and a background in math and economics are important. According to Solomon, Goldman Sachs values a diverse package of skills. Perhaps Harvard’s obsession with concentrations and clubs relating to careers in finance is not necessarily what firms like Goldman Sachs are looking for. If 300,000 students from top schools are applying for the job, maybe it’s more important to find a way to be different from the other applicants.
As Harvard’s overwhelming focus on finance clubs continues to shape its campus culture, it raises critical questions about the balance between ambition and authenticity in students’ academic and professional journeys. While these pre-professional clubs undoubtedly offer valuable experiences and networking opportunities, students must also consider the importance of individuality and the broader skill sets that top firms like Goldman Sachs seek. Maybe it’s not the resumé full of finance-related extracurriculars, but instead one that showcases a diverse array of interests that will truly stand out and secure a job at a top firm.
Pippa Lee ’28 (pippalee@college.harvard.edu) is comping the Independent.