3 Years in IB --> M7 MBA?
I will be starting as an IB analyst at a top MM firm (Jefferies/HL/HW) in June, and would like to get my MBA after 3 years. How is this viewed by admissions at MBA business schools">M7 programs? Would I be at a significant disadvantage relative to my peers who went the traditional 2+2 IB-PE route?
Also, my bank has a program in place to sponsor top ranked analysts through b-school which I could take advantage of. Would having employer sponsorship increase my likelihood of admission?
Note that I scored a 710 on the GMAT and have a 3.6 GPA from public big 10 university. My ultimate goal post MBA is to either stick with IB or transition into corporate development/consulting (in that case, forfeiting any potential employer sponsorship $$).
I know it's hard to plan out so far in advance, but I am curious how feasible this plan is. Any insights would be appreciated
Why 3 years? I thought the normal analyst stint was 2?
I would prefer 3 years so that I can spend one year abroad at a satellite office and receive a promotion to either senior analyst/associate.
I returned recently from an MBA business schools ">M7 admissions weekend. A sponsorship would make you very competitive. Same with your work experience and GMAT. I saw a decent number of people with this background (IB no PE). The only weakness I see in the application is 3 years of work experience. Most people have 4 to 5 years when they start b-school. Though this could be offset with the sponsorship.
You'll be fine - it's not uncommon for bankers to be applying after their 2nd year (so they have 3 years at matriculation). Yes, you'll be at a slight disadvantage compared to those with IB/PE 2+2 simply because they will have an extra year of experience at the time of application (3 years instead of your 2). But don't let that impact your application.
For now, just focus on getting ready for work. That's by far your most important thing right now (2 years is an eternity right now if you haven't started work yet). To be honest, business school shouldn't even be on your mind at this point. It's akin to a draft pick worrying about free agency before he's even played a single pro game as a rookie.
Just as a reference point, I have 5 years of IB experience (2 at BB, 3 at boutique) and got into 2 out of the 3 MBA business schools ">M7 schools I applied to. I think it's pretty common to see bankers go from analyst->associate then business school surprisingly after searching around LinkedIn and speaking with multiple, current students at the MBA business schools ">M7.
If you're sponsored, you're good to go. Without it.. 3 years experience, 710 GMAT...MBA business schools ">M7 will be a bit of a reach, although still possible. The way schools function, is they decide they want to have a class that is x% finance people. Unfortunately for you, finance people have on average very high GMAT's compared to the other buckets.
3 years should be fine.
Yeah, that is a better idea and a sign of your dedication towards your career.
best of luck !!
Business School after 3 year IBD analyst stint? (Originally Posted: 05/17/2013)
Has anyone done this? I'm aware that most MBA applicants have an average of 5 years work experience - how would a candidate with 3 years of IBD experience be view upon?
Some key facts for this situation:
Reason for aiming an MBA as fast as possible is due to a possible change in interests. (Suppose you wanted to quit banking and enter consulting).
Reason for doing a 3rd year analyst stint is a. 2 years work exp. seems WAY too low for possible MBA admission. At least after 3 years you could discuss on managing analysts below (basically like an associate role). b. Paying for B-School - a 3rd year analyst stint will give me additional income to help pay tuitionl. I've calculated it and considering living a moderate lifestyle, I could save up to $100k before B-School.
I obviously will have no shot at schools like HBS or Stanford. I feel like as long I keep up my GPA at a non-ivy target and ace the GMAT I can at least have a shot at Columbia, Booth and MIT.
Your thoughts? Do you find this feasible?
From the standpoint of experience I have seen one guy actually go from 3rd year to HBS. Same goes for a lot of consulting guys, they go after 2 years.
as for what your chances are at different schools, you should post in the Business School Forum.
Don't most consulting guys go to business school after 4 years? I'm pretty sure it's 4 years, not 2.
Definitely not asking for chances on business school, just saying that I am aware that my chances would to the two "best" MBA programs are pretty much non-existent if I were to pursue business school after only 3 years.
No, McKinsey usually makes their business analysts leave after 2 years to work somewhere else, be it a non-profit or go to business school.
Alright I understand, I'm guessing this is mostly for McKinsey since Bain and BCG both operate in 4 year schemes
Nope, even at Bain and BCG, they promote some top performers to Consultant, but the majority go somewhere else (whether b-school or another company) after 2-3 years.
Yes, it's possible. A ton of people go to MBA business schools">M7 MBA after 3 years in less rigorous and "prestigious" jobs, so it's definitely possible from banking. I've actually seen few linkedin profiles where people went after 2 years of banking. I think having a lot of leadership activities in college, and crafting a good essay helps with that.
know someone who did 2 years at a MM shop (william blair, HW, JEF) and went to wharton
Undergrad business school -> 2-3 year analyst stint (IBD) -> MBA finance (top 10) (Originally Posted: 02/12/2010)
How feasible is this, given that majority of MBA students are liberal arts majors ? I know that currently elite MBA Schools keep playing the 'diversity card'. So not only do i have the bsba major theoretically working against me, I also have the " Im in IBD, looking to go to PE/return to IBD as a big time associate" stereotype.
Where are you getting your information that being a business undergrad is a disadvantage. Doing 2 years in IBD and then MBA is a kind of standard path. I don't think you have anything working against you.
i know it isn't exactly a disadvantage, but my concern it that they prefer non business majors. Because it is such a standard path I am concerned that there are going to be hundreds of other applicant with the same background. And with people like the new dean of NYU Stern trying to ween themselves off Wall Street, my question is: is there any top 10 MBA safe haven for us finance guys to ?
Peter_27,
Take a look at the stats of the schools you're interested in applying to. Generally they list undergrad major as one of the buckets. From what I can recall, typically somewhere between 15-30% of the class usually has an undergrad major in business. I agree with Anthony, I don't think it is a disadvantage.
You need to take a look at what % of applicants for their class is comprised of business majors. If they work anything like UG admissions councils, you WILL be bucketed and measured against people in your own "group".
MBA programs are often a huge duplication of the material at the undergraduate level so consider that.
Isn't it a bit like paying $40 grand a year just to meet people, since you won't be learning anything too new. MBA classes are UM-Ross recycle BBA materials and vice-versa
I'm a little curious as to whether CanYouHearMeNow and cj88 pursued an MBA and, if so, where? I'm a business double-major and that has not been my experience at all.
well, i have yet to pursue an MBA but most of my undergrad business courses utilize MBA -level textbooks, which aren't that different from undergrad level texts. i mean yes, MBA-level texts go into more detail about certain theories, but the underlying material remains the same.
To be honest, as a finance major, I don't really see any academic value in an MBA. The only reason to get one is the vast networking/career opportunities. MBA finance courses are basically just a rehash of bachelors-level courses and a lot of the top MBA programs don't even disclose grades. But this is old news- people get an MBA to switch careers or b/c their employer requires it. Of course people will talk about how getting an MBA at z school will enable them to take their knowledge of x and y to new a level in their admissions essays, but come on, they are lying through their teeth.
If I really want to delve into the advanced quantitative side of corporate finance and investment theory, I'll get an MSc finance at a top European masters program that actually requires me to write a thesis paper and then maybe pursue a PhD.
For the record, I'm not knocking MBAs, and I intend on getting one in the future. I just don't think you really learn anything new or useful (at least in finance)
IBanking to Top MBA... how to spin it? (Originally Posted: 06/23/2010)
I am entering my second year in a two-year IBanking analyst program at a bulge bracket bank. I am hoping to apply to the top business schools this Fall (Harvard, Wharton, Stanford), get an MBA, and switch over to a career in either private equity or a hedge fund. I know that I could move to PE/VC/HF straight from my analyst program, but I want to go to a top business school to get some general management courses and develop a substantial professional network that I can use throughout my career (something I don't have now, because I came from a mid-tier school that has little to no presence on Wall Street)
What strong reasons have been used for an IBanker to go to business school? How should I spin my application to make it known to admissions officers that I need to go to business school (something more substantial than the reasoning I provided in the paragraph above)?
Sounds like it would be very difficult to get into any of those schools with such little experience. Most go to PE before getting their mba so that they can get the experience the top schools look for (think average is around 4 years). By applying earlier you don't have much differentiation and may come across as the dime a dozen BB analysts that apply. This would be a very tough spin... try to come up with some way to sell yourself that separates you from the rest, but will be tough, can't say I would know how to sell that without knowing your outside activities, etc. Good luck
plus, much more difficult to get into PE without and pre-mba PE experience...
I second this motion. The OP is writing like they have a PE/HF spot lined up when they get done.
You are taking a HUGE risk by going to b-school so 'early'. There was a post the other day where someone mentioned friends that were graduating with a Wharton MBA and several years of IB and PE experience but were taking jobs in F500 corporate development and going to small PE shops or even back to IB because there are soo few opportunities. Plus the more experience you have the better your chances of getting into the aforementioned schools.
I'm in PE now (recently started) and I am already thinking of changing my plans of getting my MBA in 2 or 3 years because I'm not sure if I will be as competitive as I would like to be for bigger buyside shops during recruitment. Good luck.
Regards
If you want to do PE post-MBA, you'd be wise to get some PE experience (1-2 years) first before getting an MBA as others have said here.
IB can help people get into top B-Schools (Originally Posted: 08/21/2008)
I've heard this, but not sure if it is just a rumor.
I heard that if you are a top performer, coming from either ER or IBD, the firm can actually help you get into top b-schools.
Probably just a rumor. One you should not continue to perpetuate as you will poison the young minds of aspiring b-schoolers and provide false hope to monkies everywhere.
Obviously, top performers at BB are highly coveted by b-schools as BBs serve as both screens and training centers for hard working type A personalities. IBD is highly competitive and Darwinistic in nature. The only downside to being in IBD when applying to b-school is having to differentiate yourself from other candidates with similar backgrounds. B-schools seek diversity and can only have so many IB guys in their class.
wrong. there is no possible way to get in from the outside. you have to be BORN into these bschools.
I have no idea what that means.
Why does investment banking help for top mba? (Originally Posted: 04/01/2010)
I was wondering why? i read that investment bankers all have similar experiences which helps for mba. Is this true whether you are at goldman vs. boutique?
If your goal is a top mba school and not to stay in banking, is it wise to take IBD job over a regular job like consulting or marketing or something?
assume gpa and gmats are all equal.
consulting>>>banking for IBD especially MBB but IBD+PE> or at least = just consulting
Didn't understand what you tried to say (or maybe I did and it just doesn't make sense). Please explain.
he meant for MBA
u got a link to that? i used to help u on our q's so excuse me if i'm questioning ur answer
MBA's are networking and skill refreshment degree's. Thats it. Top schools love IB/ MBB because with that experience coming in you will have no problem doing even better with an MBA.
You make a million bucks with a Harvard MBA you will donate, make the program look great, be a prominent person, increase prestige.
If Harvard admits kids with McDonalds background they will fall on their face once they get done, bitch about the degree, not achieve anything amazing and no one will wanna go to that program. Thats it.
Kind of like the original USA Dream Team. You let all the best NBA players on the team, you win a gold medal. You let all stars into top schools and all stars will graduate.
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