The misconception that good grades are enough

The fallacy: "You go to a top university, everyone will be begging for you to work for them."

Maybe up to 10 years ago, graduating with a first-class degree from a top-ranked institution would have been enough to guarantee a great job.

The majority of students graduate with a first or 2:1

Source: HESA higher education student statistics

However, when 28% (and rising) of students are receiving a first, and over 75% at least a 2:1, this is not sufficient to qualify for the most competitive roles. Your classmates will be competing for the same positions, and so will those at other institutions. The majority of these roles have acceptance rates of less than 1%.

Your competition

Let's say McKinsey (top-ranked consulting firm) graduate recruitment receives 2 consulting applications:

1. A first-class Cambridge Economics graduate.
2. A UCL English graduate with a 2:1, 50+ volunteering hours, a revenue-generating startup, and a previous marketing internship at a FTSE 100 company.

The latter is far more likely to pass their gruelling CV screening process.

Now take a Cambridge Maths graduate with such a CV:

• Consulting internship at BCG (another top-ranked consulting firm).
• President of the Downing College May Ball committee.
• International Maths Olympiad Team Member for UK.
• Founder of a social enterprise increasing access to Cambridge.
• First-class degree.

You might think that students like this don't exist, but they do, and there are quite a few of them. Don't lose hope: you can get a great job by ensuring all aspects of your application are solid rather than relying on the "Predicted First" on your CV.

For many firms, applications are scored using a points-based system, with your educational background given the same number of points as one 300-word essay question response. If your response is poor, this is equivalent to skipping the past 15 years of education that you've endured. Don't put in less effort because your CV has a fancy university's name written on it.

Sometimes, even in the short term, you may need to sacrifice a coursework grade or two. All too many times I have heard my peers say that they've been putting off their internship applications because their classes are getting tough. You will always have classwork you could be doing. Application season tends to last only a couple of months, so think about whether you would rather graduate with a high mark in a piece of coursework, or a job.

Don't I need a first AND everything else?

Sure, a first-class degree and a sparkly CV is ideal, but graduating with a 2:1 is not a deal-breaker. Bain (top consulting firm) uses a points-based ranking system to screen CVs and the difference between a 2:1 and a first is only 1 point (source: a Bain employee, 2021). Meanwhile, volunteering, entrepreneurship, and leadership roles rack up points for each quality position you hold.

In careers like banking and consulting, nothing you learn at university will be as relevant as the knowledge you require on the job. Hence, your first-class degree does not indicate that you have the required knowledge; it indicates that you could handle a rigorous course of study and manage your time well. However, working on things outside of your degree indicates this just as effectively AND you gain additional skills and enjoyment from these activities.

Finally, there are 3 things to note

1. Before you graduate, your university grades don't have to matter at all. If you can handle good grades alongside everything else, then sure, go for it. However, the majority of positions don't require a transcript, simply a predicted grade. Especially before your third year. Predict yourself a first and move on.
2. It is true that for the majority of roles you must graduate with at least a 2:1, and so do work towards achieving at least this.
3. Some industries care very much about grades, such as commercial law. Moreover, if you are planning to do a master's, then your grades will matter for grad school. However, remember that even if you're doing a master's, extracurriculars and work experience are still important to secure a grad role after. Many employers don't regard candidates with a master's degree above candidates with a bachelor's, so don't assume that a relevant master's degree will be sufficient to secure the role.

In summary, make use of all the opportunities presented to you at university, not just the academic ones.

The CV review scores the parts of your CV beyond your grades, the ones screeners give points for.

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