Best Response

Why does everybody insist on asking "for a friend"? You're allowed to tell people that you're the one asking the question.

In any case, if I were in your "friend's" shoes, I would forgo business school at the moment and join the workforce for 2-4 years (provided you can get a decent banking / consulting / whatever job). Breaking into PE / HF post-mba is already very difficult if you have no prior buy-side experience, let alone ANY experience. I wouldn't say it's impossible, but I can't think of a single fund that would hire someone with no relevant experience whatsoever. So, as it relates to your end goal of working on the buy-side, I think getting your MBA now is a very bad idea.

Ideally, you'd follow the traditional route of working at a bank or consulting shop for a couple years and move to the buy-side from there. Like you said, you'll likely be able to get into a better school if you do well enough and get decent experience (if you still even want to attend at that point). However, a lot of this depends on your job prospects immediately out of undergrad. If you're facing unemployment, it might not be the worst thing in the world to hide out in school for a couple more years. Though, if you're able to get into a top 10 school right now, I'm sure you can find a decent job.

 

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