You work for 2-3 years, get promoted to associate, then work for 0-1 years and decide MBA. You're 25-26 (normal age of any MBA applicant).
How does this look to top MBA's?
I'm assuming any investment bank would still only hire you as an associate...is moving to the buy-side possible?
Also interested in this question for VP's (eg, you work in banking for 5-6 years, hit VP, and decide you want to get an MBA--would another investment bank still only hire you as an associate?).
This situation seems really bizzarre to me and it doesn't seem like anyone has ever asked about it on these forums before.
I'm your standard white, male 27 year old banker with a high gmat score (750+), strong grades, strong extracurriculars and top 30 undergrad. I have 5 years of banking experience (2 at a BB and 3 at a boutique) and was just accepted by one of the M7 MBA programs. Waiting to hear back from other schools. Hope that gives you some color.
Interested in this topic as well. I am a first year associate in M&A (promoted after 3 years in ECM) and looking to apply to H/S/W in the fall of next year.
masterg: What are you post-MBA career goals? Also, can you describe briefly what your 'strong' extracurriculars are? ECs are the weak point in my application and I am trying to figure out a game plan to address that over the next year.
Bump
umm most get mba to get to associate what does this serve you at all?
Also interested - if you are an associate at a bank and want an MBA for non-promotion reasons, but want to return to your bank post-MBA, do you know if they would take you at a higher level than post-MBA associate? For example, if you get an MBA after being a 3rd year associate and want to return to your bank post-MBA, would they take you on as a VP? Aware that this is a very specific question and someone in the scenario would do better to just speak to the bank, but I'm an incoming analyst so not really in a position to ask my bank this.
I personally know of one person who did that - basically he was working at a BB up to a 3rd year associate (A to A promote), got an MBA then returned to the same group as a VP.
I asked him about it and he said it's all about negotiations but it's much easier to do if you are returning to the same group you were in as an associate - much harder to do if you plan on switching groups / firms. Again this is only one sample size so take it with a grain of salt.
Awesome, thanks for the info - I assumed it would be possible if you are a top performer and express interest in returning to the same group post MBA but it's great to have anecdotal evidence proving it.
This is not that straightforward. Hiring at the first year associate level is not idiosyncratic, ie the numbers vary but banks always hire at that level each year. Hiring at the VP level is idiosyncratic. Teams will hire when they have headcount and a specific need. No one will guarantee that two years out, and even if you are well regarded, your coming back as a VP is dependent on specific headcount need that may or may not exist. Particularly, since if you leave, the team will have hired someone to replace you. Be careful with this move.
So would you recommend analyst ---> MBA ---> associate instead, or if you want to stay in banking would you recommend skipping the MBA?
If you are the MD who did the AMA (believe you are - hope you've recovered from your surgery well) I believe you mentioned you don't have an MBA but would have done so if you redid your career - in that scenario, assuming you mean analyst ---> MBA ---> associate. Can you elaborate on why you would do it if you could do it again?
I'm in top shape, thank you.
The optimal time to pursue an MBA is after three years as an analyst or 2+2. Opportunity cost gets higher and higher relative to the benefits and I said, earlier, there is no guarantee you will be able to come in higher than post MBA entry level even if you have had more experience. I remember hiring someone with three years of BB banking and three years of top tier PE as a first year associate in banking, for example.
I did not get an MBA and have worked straight through. In retrospect, I think I would have appreciated those two years off, which I will never get again in my career, and I also believe that an MBA can give you a very holistic perspective on business that is valuable as time goes on in a banking career. The skillset for a senior investment banker involves corporate strategy, organizational management and leadership, marketing and many other topics that are not pure finance. Of course you can learn these over time and with experience, but I've been impressed by a lot of the B-school professors I've met at HBS, Wharton, etc., and I suspect I would have learned a great deal from them.
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