McCombs MBA vs. M7 MBA
Hey!
I graduated from a non-HYP ivy in May 2013 with a B.A. in Applied Math. I'm a female URM with a 2.77 gpa. I've been working as a teacher for the past 3 years and would like to transition into IBD. I know that my gpa is poor so I'd have to do incredibly well on the GMAT, and even if I do, a top b-school may be a stretch. I just figure that I'm not dead so I might as well try and pursue this goal anyway; if it doesn't work out I can teach math forever (not ideal)/ OR start studying for actuarial exams and pursue that instead.
At this point, since I have no relevant internship or work experience, I think b-school would be my best bet at making this career switch (though I could be completely wrong). As such, I'd like to apply McCombs, and as many schools in the top 20 as I can afford.
I have a few questions:
- Provided I perform well on the GMAT, do I have a shot at being accepted to any top 20 b-school?
- I can attend UT tuition free (dad served in the military in Texas), and if I attend part-time I also can keep my job, thus lowering the opportunity cost. If by some random act of God, I get into an M7 school, would it be worth it for me to attend the higher ranked school at sticker price instead of UT?
- Am I better off just trying to network my way into an IBD role?
All of this is hypothetical. Just trying to think things through. Any thoughts/ advice would be appreciated.
I won't speak to your odds of admission or career switching, but you should read up on benefits for being a child of a veteran in Texas. Im pretty sure that you can't claim any of those benefits after you're 25 and that it only applies for UG.
Additionally, I'm not trying to be rude but are you certain of what IB/finance is? The reason I ask is because you said if you didn't make it after an MBA, you'd either teach math or become an actuary. Getting an MBA would be a huge waste if you pursue either of those, fortunately there are a million different jobs in finance other than being an investment banker.
don't go part-time, you need the internship
If you get in the 700s for GMAT and nail your story for "why MBA" (which sounds like you still need to figure out... You can't just say "I want to do banking," but have to show evidence for why you are interested, why you would be successful, basic knowledge of the industry, etc.), I think you would have a shot at some top 20 schools. I didn't use one, but if you are serious maybe hire an admissions consultant if you can afford it since you are coming from a non-traditional background (teaching). I had much better statistics and work experience, and I couldn't crack the M7 but got into several top 15. I am coming from an over-represented group through, so being a URM female definitely helps. You should look into applying through the Consortium.
You cannot get a solid IB job by doing a part-time MBA.
You cannot network into a solid IB job from teaching.
Hey, I was in a very similar situation as you. I did my undergrad in History with a 2.75 GPA but scored in the top 14% of the math section of the GRE. However I barely got into Texas Tech MS Finance program, I didn't apply to UT because I didn't think I had a chance there. AMA
First and most importantly - do not do part-time. It is not worth it unless you need it for a current job.
I think you will be fine on admissions with that background. Being a female MBA applicant is practically on par with being a racial minority from an MBA admissions preference standpoint (even better if you are both!). Applying as a teacher is an advantage IMO because that will be seen as differentiation to the class profile - they love that shit. GPA isn't great but also isn't a killer for MBA like it would be for law school where most come straight out of undergrad. With the above in mind, i think you have a decent shot at most places with even a marginal GMAT (650). Essays are very important - but that is true regardless of your GMAT.
Don't get tied up in the rankings (within reason). An MBA program isn't about what you will learn - they aren't teaching DCF any differently anywhere and you could get the educational component of an MBA at a bookstore in a month of weekends. MBA is about the network, which is largely driven by geography. So the question should be where do you want to live and work post-MBA. For example, if you want to live and work in Seattle, UW (#27 in latest US News) is going to give you a more valuable network than YSOM (#8 on US News) - and that's not even taking into account the in-state tuition discount. Drives me crazy when kids on here are legitimately having trouble deciding between something like UCLA and Tuck when their stated goal is to work in Los Angeles post-MBA.
In sum, if you want to work in TX i would take McCombs over just about anything outside of H/S/W. You can definitely get IB out of McCombs assuming you speak English, get decent grades and can tell your story.
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