MBA options / Help Needed
Hi, monkeys! I’m preparing myself to apply for an MBA next year, and I would really appreciate some help on defining my targets (given my background, GPA, GMAT and post-MBA goals).
• South american, white, male, 30 yo
• GPA: 2.4 (sad) in business (local top business school)
• GMAT: did not take yet, but expecting 720+ (based on mock exams I took)
• Work Experience:
- 4 years / Structured Finance (Asset Backed Securities) in a middle-sized well-known local investment bank / promoted yearly / participated on several interesting deals, some of them as the the main responsible analyst (one of the deals was a ~USD 200M public offering)
- 1 year / Associate - Structured Finance in a very small boutique / resigned on March
- Probably going to receive an offer as an Associate in a new small investment boutique (Structured Finance again)
• I’m going to take the CFA Level I exam in December (pretty confident that I will pass)
• Voluntary Work: responsible for the financial management in an NGO which helps refugees (started 1 week ago)
• My post-MBA goal: Investment Banking / US
From what I’ve read and given my profile, I’m trying to find out my best options from: Booth, Columbia, NYU, MIT, Yale, Tuck, Ross, Darden, UCLA Anderson, Duke.
I would really appreciate your insights!
as long as your GMAT is a slam dunk to help your GPA weakness, it really depends on the execution, fit and how you sell your potentials to the MBA programs. you're aiming lower M7 and top 15 range, it's not as extremely competitive as H/S/W.
Thank you for your insight!
I excluded H/S/W from my targets exactly because of my low GPA.
Considering the fit, I'm wondering if NYU, Columbia and Booth should be the best shots. As they are known for good placement in IBD, and are strong in finance/banking, my background (100% finance, CFA, and post-mba goal) should fit. But, on the other hand, these are probably the most competitive ones (considering GPA/GMAT) from my list, aren't they?
Tuck is one that I'm really tending to put on the top of my choices. Strong placement in Finance/Banking, they value international students (specially from under-represented regions), some data showing that they most value GMAT than GPA... and I have a friend, who worked with me for 4 years (in the first company I worked for) that is studying there.
generally, the recruiting representation, "fit" among the same tier of MBA is nearly equal, and people only go to certain careers because they chose to do so before applying to MBA. e.g. If you're accepted into NYU Stern and UCLA, you'll probably go to UCLA for Tech, Stern for Finance... or if you want to be summer california @ UCLA or big apple NYC @ Stern, etc
That's a different story for you when you're applying to programs. Your fit question would be - characteristics that makes you blend in, makes you succeed and recruit-able upon internship/full-time recruiting. For example, Kellogg is known for interpersonals - they're usually the nicest MBA out there, according to recruiters. Booth is known for quantitative thinking..... Columbia/NYU are known for experiences in the tough NYC, and H/S/W are more likely to take prestige candidates because they can afford to do so with their ultra elite candidate pool. That's the fit you want to know and prepare about......... and certainly having people who are alums/ currently in the programs is a big big help.
I think the question you will have to answer in a very convincing fashion is why the Adcoms should select you over the other finance types with 730 GMATs and 3.5+ GPAs. I think if you can do that, network heavily and have a 750+ GMAT, you have a shot at a T15.
I don't want to sound too harsh and I would never tell anyone not to apply to a school. Things can happen, but just as a frame of reference, the lowest GPA at NYU was 2.51 last year, (only school I found that published the full range of GPA) and my gut feeling tells me that wasn't a finance guy.
Thanks for your insight!
About the GMAT, as I have enough time until the application, I can study hard and score a +750!
Within the schools I listed above, which ones would be the most forgiving about the GPA? From what I've read it should be Ross, Tuck, Booth and Darden...
I think that's a question best for a consultant. My take is it might be more forgiving at larger schools since they accept more students. That's just my theory.
In the mean time, I would take the GMAT first and get that 750+.
Then I would start networking now. Go visit the schools if you can (it may be tough since you are abroad) and reach out to alumni and students. This has really helped me understand the fit of the schools and get beyond the superficial stuff you can find online.
If you can do that, you'd be in a better position to convince the Adcom you really want to be at that school and overlook the GPA.
I just don't know if a 2.4 can be overlooked by any of the M7. You are in banking so you're competing in a crazy hard category and nothing stands out, plus the only area that could save you is the refugee thing but you've only been involved with that for a week. I'd talk to a consultant to see where you should target but my total ballpark guess would be the programs ranked 15-25.
GPA: Extremely low GMAT: a 720 will be normal for most of those schools you listed W/E: good but again, competing in a crazy competitive bucket and likely won't really be able to point to any leadership ECs: Weak
Hope i'm not coming across as too harsh but given that you have a solid job and want to stay in the industry I don't get why you want an MBA.
Thanks for the help!!
As I'm going to apply on oct/nov 2017, I think the best way for me is:
Maybe with this a can get into a 15-20 ranked school.
you have a lot more due diligence yourself to check your tier. people get in with 500 GMATs, so don't be stupid by disqualifying yourself. You have a catch-up game just like the other low-GPA-GMAT people before you, who applied and got in.
I'm no expert, but this is just based on some trends that I've seen. The way I grade you is your GPA is low, your GMAT will hopefully be excellent (720+ and hopefully 750+ so it's above what it needs to be at some of the schools you're looking at). Work experience is so-so and extra curriculars are a ?.
If I were you I'd do a great job on the GMAT, find people who will write great recommendations, figure out how you're craft compelling essays and potentially discuss why the undergrad GPA was so low, potentially take some classes to build an alternative transcript, try to build some quality ECs over the next year.
M7 is going to be really tough, but I think that you definitely have a shot at some of the top 20s which will put you on the banking path that you're looking to get on.
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