Hi Everyone,
Last month I accepted a job at a Fortune 25 company in corporate finance straight out of undergrad. My long-term goal is to work in corporate development / strategy or any "high finance" position. Most importantly I'd like to have many options available to me and have an exciting career.
I realize that I've just started my corporate career, but I'm already looking ahead to MBA programs, because I can see myself taking a risk for a better salary in the future. So what do most people do with themselves while they rack up the 3-5 years of work experience before a top 25 B-School?
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Go for the CFA? I feel like this would be just something for me to have, just to have it, and I'm not interested in investment management. At the same time, I have the extra time on my hands, so why not? Would this help be get into B-School? Or higher level Finance?
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Get a "Specialized 1 yr Masters"? - Sounds like school are using this as a cash cow. Is there any value added if I already have a masters for MBA program admissions? Could I use this as a catalyst to set me apart from the rest of the crowd?
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Kick butt at my current job? This is a given, but how much time should I devote to this and other priorities?
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Start a business? Would this maximize my chances at getting into a top MBA program?
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Chill out, relax, and crush the GMAT?
I think I already know the answer to this post. It depends on the situation.
Anyway, do you guys have any insight on what can set me apart? What did you do for 3-5 years before your MBA? What should I do with mine?
YellowRanger
If you don't want to be investment management or equity research, the CFA is a waste of time. Starting a business may be a rewarding option if you actually want to be a career entrepreneur and break out of the rat race. Business school in that situation can serve as a hedge if the company fails (don't start a company just to impress MBA admissions). I say your best bet is to be a top performer at your job and ace the GMAT.
Be more interesting.
Find a hobby.
Read good books.
Exercise.
Make new friends.
Get a girlfriend.
Travel.
Learn to cook.
Visit an art gallery.
Hike a mountain.
Go kayaking.
Learn to ski.
Catch a fish.
Shoot a gun.
Wake up on the beach.
I agree with YoungHedge -- it would take you, at the fastest possible speed, 2 and a half years just to pass the exams, and with just starting your career, more likely longer. 3 tests and roughly 8,000 - 9,000 pages of reading just for letters that wouldn't help you more than an MBA in corporate finance doesn't seem worth it. Congrats on the job and enjoy!
Thanks Golfer23 & YoungHedge, both good points.
Having the CFA sounds flashy, but it's not worth it for my career path. As much as I love a challenge, my time could be better spent elsewhere.
I'm in a similar position: I came to finance expecting 100 hour weeks but in my current role I have a lot of free time and don't know what the best thing to do is. I've made it a point that for the next few years I'm going to sacrifice leisure time for career advancement [I'm 30, so I don't get a 'do over'].
Can you tell me more about "Specialized 1 yr Masters" programs? I haven't heard of this before
http://msfhq.com/
A specialized masters is typically a one year program. It a relatively new concept (in the US anyway) which specializes in one segment of business. You can get a specialized masters in just about anything.
Masters in Finance / Accounting / Human Resources / Management
Whether or not it's worth going just for a specialized masters or just an MBA or both, is debatable. To each his own.
THANKS! I'm looking for a way to strengthen my grad school application by getting a master's at night.
Be careful as you will have to explain why you need an MBA when you already have a master's degree in applications.
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