MBA Schools for Asset Management Careers
Hi all,
Does anyone have a list of what the top US MBA programs are to pursue a career in Asset Management; if this question has already been answered, can you please direct me to the list.
Thanks in advance.
There are two major competitions, one held at Cornell and the other at UNC, that each invite 10-15 schools to compete. Not surprisingly, Wharton and Chicago are good choices. You won't go wrong at Harvard or Stanford either.
Maybe consider Haas, UNC, Cornell, UVA, Duke, Columbia, CMU. I believe that Fidelity and Wellington post their recruiting schedules online as well.
I think if you go to any top school you'll be able to create your own opportunities. To be clear, at some schools you'll have to work harder to create opportunities than at others, but there aren't too many employers that will be completely closed to you.
Columbia's Value Investing Program is second to none.
lol
Dude, that is old news.
Getting an MBA to Change Careers to Asset Management with No Finance Work Experience (Originally Posted: 12/08/2013)
Getting an MBA to Change Careers to Asset Management with No Finance Work Experience
Found the article below.
Quoted from the zoominterviews dot com website:
That article pretty much nails it. Although I would also add on the classes part, recruiting/networking and stock pitches start so early that you really won't have much time to learn things in the classroom. Taking the classes is important but I would say expect to work outside the classroom on most of your learning to be ready. Also add to the mix the fact that IM recruiting occurs after IB and Consulting recruiting so you have to deal with the stress of all your friends getting offers while you are just starting out. It definitely isn't the easiest career switch to make but I'm gambling 2 years of time and six-figures of debt that it's possible!
Columbia, Chicago, Wharton - are the three best ones in terms of learning and pretty much everyone recruits there, you will always get recruited out of HBS and Stanford, although the finance education at HBS is pretty crummy - but you will get recruited because you will likely have had the right background before anyway. Other than that it gets tougher as major funds don't recruit as much outside of these 5 - but I have seen people with degrees from NYU, Kellogg, MIT do very well - just tougher to get into mainstream recruiting process
MBA + CFA (Asset Management) (Originally Posted: 02/11/2013)
Hi Everyone,
I am a CFA Level 3 candidate and have been a finance professional for the last 4.5 years, though most of the work I've done is in a Financial Back office.My future aspirations include working in Investment Management, but I'm more intrigued by the world of Fixed Income and Structured Products.
I had the following questions, 1. How would an MBA help me in an Asset Management role? 2. Which are the B Schools that are considered good for getting into an Investment Management type of role? 3. What kind of roles in Investment Management (or Fixed Income Management) can one look at after an MBA+CFA?
I know that prior experience counts, but thats the reason I want to use an MBA to make a transition in my financial career.
Hope to find some helpful suggestions :)
You are joined by the hordes of back office guys with a CFA (or close to it) looking to make the leap to front office. An MBA is your gateway to a recruiting pool so choose the school wisely. Tuck, Sloan, CBS, Wharton, Booth. These are the best schools if you want buy side research. Toss in Stern for sell side. HBS and Stanford guys and gals always have a shot but they are not finance focused schoos. Go outside of these schools at your own peril. You basically need to get a firm to give you a shot via on campus recruiting or get lucky with alumni.
Thanks for the advice. I am not someone who can get into any of the above mentioned schools. So I might have to take a shot outside those at my own peril :) Is there any alternative way or career path which might lead to Fixed Income Management after CFA?
If you want to work in structured products/FI I would suggest getting a job at one of the ratings agencies to get some FO experience. I know the ratings agencies get a bad rep but at least its FO and it does provide a good spring board onto the buy side. The pay isn't great but the hours are good and you might be able to get the job you want without the cost of an MBA. Obviously, if you get into an M7 MBA disregard my advice.
@Ovechkin08.. Thanks for the reply. I like the way you're looking at it. Guess I'll have to try my luck after CFA to see if I can get a foot inside the door.
CFA + doing my MBA top15 in the North East. Still very difficult to get into the buyside, the CFA will get you some interviews. In the end, they want to see if you live and breathe stocks. Sometimes the technical's are very simple, but have never been covered in CFA. Some of the questions asked are what you would naturally know from doing lots and lots of research on equities.
Doesn't get a lot of talk on these boards but the CMT (chartered market technician) would be helpful for this. Doesn't get the recognition of the CFA, but knowledge wise you should be able to talk about the technicals of any security and sound like you've traded before. Also find the things learned very applicable if you trade anything, even you PA. Know others in fixed income with a CFA and honestly 95% of it doesn't apply at all, where I use things learned in the CMT on a daily basis.
I decided to do the CFA during my third year (night school) of dong the MBA at a non-target. I imagine the recruiting benefits from a target school are worth getting the mba otherwise most of what you learn there is a waste of time for Asset Management. The second year of the mba in finance and investing was very helpful in preparing for the CFA ( i passed all 3 levels first sitting) but for asset management the value is in the CFA.
thanks for the info guys. any feedback about Ross's MBA program with regards to AM careers?
EMBA or MBA for Hedge funds/Asset Management (Originally Posted: 12/26/2012)
Contemplating between EMBA (Columbia/Wharton) and Full Time MBA (Booth/Columbia/Wharton). I need to move to hedge funds are asset management post MBA. I have 5-6 years of experience in Derivatives Pricing/Risk in a financial services provider and a Masters in Financial Engineering. But I am not/ don't intend to be a hardcore quant. Is it better to do EMBA or FTMBA to get into the fields mentioned above? Its not total field change post MBA but slightly different/better than what I am doing right now. With EMBA I won't be able to do an internship. Is Internship really that important to get into hedge-funds /asset management?
My long term goal is to be a Portfolio Manager.
If the field is only a little different then what you are doing right now, then an EMBA should be doable. It really depends on things such as your age, total work experience, and your current field. For the Wharton program, if you only have 5-6 years total experience, it may be tough as you would be considered a fellows applicant and need full sponsorship from your company. However, I had a buddy who was under the age requirement and a lot of his questions were answered when he called the admission office directly.
I came across this thread on the businessweek forums when doing some research on the Wharton EMBA, and it has at least one person who has been considering full time vs. EMBA. It has some interesting perspectives.
http://forums.businessweek.com/discussions/BW_Business_Schools/Business…
Oh yeah, you might get more hits on this if you pose the same question in the business school forums instead of the hedge fund forums.
Thanks. As I mentioned before, long term goal is to be a Portfolio Manager. Currently I am just into derivatives pricing and Risk in a financial services provider. Clearly, I am not on the right track to be a PM in buyside. In that case will EMBA work or FT MBA is a must. With EMBA there is no internship..
This isn't one of my areas of expertise, so I would rather point you in the right direction.
Call the admissions offices at the Wharton and Columbia's EMBA programs. Trust me, they are really nice and down to earth. I reached out to them a few months back and was pleasantly surprised at at their willingness to discuss my concerns. It is a bit different than the full time programs since they have far fewer applicants then the full time programs. Let the admissions officer know your concerns and ask to be connected with some students/grads that are portfolio managers or on that track. The best bet it to find out if it is possible from people in the program who are working in the field.
Probably targeted by local money managers - don't see a lot of those folks at the bigger shops
Best MBA Program in 11-25 range for Asset Management/ Pe (Originally Posted: 08/23/2015)
I'm applying to Columbia, Uchicago, Cornell, Duke, and Michigan for round 1. I might throw in Wharton if I boost my GMAT. I talked with a recent cornell grad who seemed to think that it was difficult to get a job in PE/HF coming out of Cornell.
I'm praying that I get into Columbia or Uchicago as either would help me tremendously but its probably a slim chance.
Anyone know any MBA programs that do well on the buyside outside of the top 10?
This might be a stupid question, but is AM considered a common field for switching careers post MBA?
Be more specific. Are you targeting hedge funds, private equity, or mutual funds? They are all very different.
At the M7 mba programs, you will get a lot of ocr from the major long-only mutual shops such as fidelity, capital group, wellington, t rowe price, mfs, dodge and cox, etc. However, they hire a few MBAs per year nationwide, so it's insanely competitive. Hedge funds and PE don't generally do OCR with few exceptions, regardless of school. With a few exceptions, you really need the right background to get a serious look. PE is more pedigree obsessed than hedge funds though; there are some funds out there that would hire a less "traditional" candidate if they offer something the fund needs (i.e., experience in a certain sector, language skills, etc.), and the person delivers a a solid investment pitch. I think by and large, HF/PE/MF are all pretty difficult if you don't have the right background.
Amongst the 11-25 schools I highly recommend UCLA Anderson. They place pretty well at california shops. After that probably nyu stern, cornell, and maybe yale/uva. I've seen those schools place some people into solid buyside shops, but by and large it's going to be difficult.
Buy side jobs in PE/HF are notoriously hard to get out of any business school if you don't have pre MBA buyside experience. Even the lower part of the M7 it would be extremely hard for you to get a PE/HF job if you don't have the right pre MBA pedigree. If the only reason you are going to b school is to career switch into HF/PE I wouldnt waste my money.
However, as far as finance in general, the best programs for OCR outside the top ten are NYU, Yale, Cornell, and UCLA. UVA/Tuck have good options at the lower part of the top 10. Beyond that I feel it gets pretty rough unless you have a specific geographic area you want (UT is great for smaller Texas shops).
Keep in mind that there is a "law of averages" to some extent. I know of one Associate at a BB firm who got hired into a PE firm despite being (I quote)"terrible".
However also keep in mind that just because someone else did it does not necessarily mean you will be able to duplicate the feat. They may have had connections, opportunities, or just plain luck that you can't count on having.
For Asset Management outside top 10, UCLA, NYU and Cornell are probably the best choices for the alumni strength and recruiting opportunities within AM.
I'm primarily looking at hedge funds but I wouldn't count out private equity. Right now the plan immediately post MBA is to go into IB research side and hopefully use that to transition to HF. I received a message from a somewhat recent cornell grad who was dissing their AM immersion and the school so that has me worried that it wont prepare me as much as a different MBA program.
What I like about Uchicago and Columbia are their internship programs where you can get experience working for HF or PE during the school year which seems invaluable for a career switcher like myself and might allow me to skip IB altogether if I were extremely lucky.
Would echo the above statements. Don't think Duke or Michigan will help your chances at the buy side.
Outside the top 10 it's very hard to get into the buy side.
But....you really should consider NYU. NYU gives you the ability to do an internship during your school year. I know a few students who worked for free at HFs during their NYU time to get the name / experience on their CV, and it worked out very well for them. Also, it's probably 'easier' to get a banking job from NYU than Cornell, Duke, Mich due to location and NYU's finance focus. NYU recently launched a student run investment newsletter (it may be called evaluation or something) , you should dig it up and contact its editors.
I would stay away from Cornell, it seems the school's putting all its energy / money into expansion MBA programs and not its core full time Ithaca program. Everyone I meet there is very unhappy.
Duke / Mich are excellent MBA programs, but not sure about buy side placement. I"m sure you can dig up a few current students to chat with on this. I've met a two or three ppl from Duke that ended up in S&T and then moved to the buyside, though this was a few yrs ago when S&T had larger programs.
What about UT Austin? How do they do ? I've got to believe being the strongest school for 1000 miles would help them nab the PE jobs
rice and SMU are different kinds of rivals.
thanks very much.
Asset Management post MBA without prior Finance background (Originally Posted: 07/22/2013)
How likely is it for a Top 15 MBA post-MBA student?
Are there any 'target' business schools for Asset management?
It's definitely doable. Top bschools for Asset Management would be some of the usual suspects: Wharton, HBS, UofChicago, and Columbia.
Just FYI I think that Betsy in the MBA forum said something like 10% of the incoming MBA Wharton class expressed interest in AM/HF, 15% applied, and 5% got in. MBA does not sound like the holy grain.
Any international schools you would recommend?
Which is the best 1 year MBA for Asset Management? (Originally Posted: 07/31/2013)
We all know that Columbia, Wharton, HBS, Chicago and Standford are the best. However, they cost a lot and they last for two years. Many people, like me, will pay for the MBA themselves and need to get back to work ASAP. Considering this, whichs is the best 1 year MBA for Asset Management. I found this link http://poetsandquants.com/wp-content/uploads/2012/07/newtab2.jpg .
kellogg?
Kellogg is good for marketing. Not for Asset Management.
It's far and away the best school offering a 1-year MBA these days. I don't see how any other American 1-year program would place better than Kellogg into Asset Management, even though the school might not have a very strong reputation in the field.
you need a 2 year MBA because youre a huge career changer
best one-year MBA for anything is INSEAD
You are correct.
In my post above, I was referring only to American schools.
agreed
EDIT: boldened text
Holla_back we can read. Of course you were talking about USA, otherwise you would not have said "in the US". LBS has a 15 months MBA that may help (location, brand name in finance, networking opportunities, etc.)
Guys, is it just me or do you think its bullshit that top universities claim that the 2 years are needed for better social or integration experience. think they prefer that people take two years just to milk them from their hard earned cash.
Obv. it may depends on your background. People who have been studying business administration or have been working in management consulting, ibd, etc. usually don't need 2 yrs of finance and accounting classes to learn what they already know. If you could tailor the program according to what you need to learn it would probably take you less than 2 yrs but, since some people have not been studying business or working in the industry, 2 yrs may help. Plus, the 2 yrs thing is a huge pro in job searching since it give your more spots for internships, networking, etc.
Anyway, since INSEAD is doing a good job with a 1 yr program, I do think that a 1 yr program can be enough and that should be the way to follow...
What about Columbia's J-term? Longer than a year but not a bad option. I still think the summer internship is important for career changers. Holla_back, you meant in the US right?
Value of MBA in Asset Management (Originally Posted: 01/16/2013)
This is in reference to a top MBA's part-time program. We all know that full-time allows for better recruiting, career-switching and networking opportunities. This question is about people that work in the industry, are happy with their current firm and will have part or all of the program paid for by their employer.
How valuable is an MBA for climbing the corporate ladder if you already work in the industry? Specifically, the goal is to 1) move from analyst to strategy/PM role and 2) increase comp.
My thoughts are that it could be a way to create leverage for responsibility/compensation. After you are finished with the program, you will have more comp data points to reference and may be able to ask for more money than if you do not have the advanced degree. It could also give you more ops to change companies and make a change or leverage offers within your current firm.
Value everyone's input, and especially hope to hear from SirTradesaLot on this topic.
so if i wanna leverage the mba degree, i would basically ask hr, "look, i just graduated from booth and i think im more qualified for that pm role. i mean at least raise my comp!"
is that right?
I reckon it goes something like 'this looks better to potential clients and/or I have an offer from urafag llc down the street and would like more or I go there'. Just spit-ballin' here, of course.
Blackhat -- I am referring to a part-time program.
No real value. Perhaps negative value, actually. The pay bump, good pitches, and overall experience you'd gain from 2 more years at your AM firm far outweigh whatever positives would come from going to get your MBA and returning. Nobody is going to say "oh, he has an MBA now, let's give him at least $250M to dick around with now that he spent 2 years jerking off with other HBS kids," the question is going to be "what have you done for us lately, and can I trust you to make good picks?"
The general rule of thumb in AM is that if you're good at your job you shouldn't have to go to grad school, and if you went to grad school it's probably because you weren't that good at your job.
You know I'm anti-MBA but to play devil's advocate:
Why are some of the most desirable MBA hires those with prior SS and BS experience?
Grad school --> asset management (Originally Posted: 04/24/2012)
I'm at a complete non-target but have a 4.0. Still, I'm having considerable difficulty getting interviews and landing internships.
My question is, if I nailed the GRE and was able to go to grad school, what schools are programs would be the best for AM? I understand MIT and Princeton's programs are very good but quant heavy. What about Columbia? I'd like to end up on the east coast if possible. Should I be looking at only m.fin. or msfe as well?
Thanks, guys.
Are you asking about Columbia's MSFE or their MBA? Any MSFE/MFE is quant-heavy like Princeton and MIT.
Columbia's MSFE has this questionnaire to test your comfort with the math in their program: http://www.ieor.columbia.edu/pdf-files/MSFE_Prereq.pdf
[quote=Inception]Are you asking about Columbia's MSFE or their MBA? Any MSFE/MFE is quant-heavy like Princeton and MIT.
Columbia's MSFE has this questionnaire to test your comfort with the math in their program: http://www.ieor.columbia.edu/pdf-files/MSFE_Prereq.pdf[/quote] This is pretty shocking. I'm an accounting major and I'm comfortable with that math. Can anyone who has been through an MSFE program confirm/deny that pdf is a realistic preview of the math required for one of those degrees?
Thanks for the response.
My suggestion would be to go for a brand name with good career service and relatively easy coursework (unless you're super brainy)
I've never been through a MSFE program, but I've taken a math finance course and I don't think that that pdf is a realistic preview of what to expect. If you want an idea of what to expect, look up stochastic calculus (Wiener Process, stochastic integrals, Ito's Lemma) and the Black-Scholes model. You should have a familiarity with PDEs. Also these courses are very theoretical and involve lots of proofs, so you're proof skills will have to be at the level of a real analysis student. I can't speak for Columbia though.
Best b-schools for AM (Originally Posted: 11/28/2009)
I'm not sure if this belongs in the AM forum or under bschools, but I was wondering (after seeing some informal rankings for banking schools, VC, entrepreneurship, etc) if there were any programs noted for either their curriculum directed towards a career in AM (specifically PWM/PB) or any that had a significant edge for recruiting? I'm gunna assume that the usual suspects for "banking"/finance (HBS, Wharton, Columbia, and on down the line) would be up there but tha'ts just an assumption.
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