Which MBA programs would be the best fit for me?
Hello everyone,
I'm in the pre-planning/consideration stage for the whole MBA process, and I really wanted to get some expert opinions. I don't think that an MBA will be a do-or-die scenario for me, as I've been advancing my career just fine so far, but I would really like to attend a full time program (before it's too late) for the experience, knowledge, connections, and fun. I'm familiar with who the top schools are, but my knowledge in B-school cultures and curriculums is lacking.
About Me:
I'm a 27 yr old white male from NJ. I completed my undergraduate education at Rutgers Business School (New Brunswick) in 2010 with a BS in Finance, 3.25 GPA (I know, I know), and I held leadership positions on campus. I wasn't cognizant of how the recruiting game was played at the time (100% my fault) so I didn't graduate to a job right away, but I managed to figure it out the hard way after a few months of trying, so I now have about 5 years of work experience (some finance, some management). I currently work in NYC in a decently high profile (but not "elite") finance role that I like very much, and would not leave just because. From everything I've seen my job's exit opportunities are pretty solid; doors to a wide variety of buyside/sellside are open to me without an MBA, if I chose to pursue them. I think that my extracurriculars are pretty unique. Given my past standardized test scores, I'm very confident that I could break a 700 GMAT with the proper preparation. My goal is to get a great scholarship and to get into a VC (I know how difficult this is, but I'm up for the challenge) or maybe Corporate Strategy. I definitely don't want to do IBD ( its not my M.O.) or MBB (the work itself would be fun but I'm over the whole "constant travel" thing at this point in life), so recruiting numbers for those roles are not important to me. Though I'm happy I went to Rutgers, the fragmented nature of the campus and the city of New Brunswick itself (ugh) added up to something that was nowhere close to the "storybook college experience", which makes schools like the University of Texas at Austin/USC/Stanford that much more appealing to me. That said, I absolutely love New York and wouldn't mind attending CBS or Stern if I managed to get a good scholarship. I'm a very outgoing person so I'd want to be in similar company and not surrounded by stiffs. Also, I'm single so I have no spouse to consider and would definitely like to be where the action is. Given that I studied finance already, I want to attend a program that would allow me to level-up my finance skills (now that I have some actual real world experience) while also building a well rounded skill-set. Maybe if I test out of some of the first semester courses, I could pursue a double concentration in finance and entrepreneurship or strategy.
Thank you for reading this far and I look forward to hearing your opinions. Let me know if I left out any useful information.
If you want significant scholarship you need to aim lower. You definitely aren't getting into Stanford. CBS you are a borderline candidate depending on how high your GMAT is (will need 730+). Stern, Texas, Michigan, Duke, Cornell, etc are all targets with a 700+ but I doubt you'll get any significant scholarship. 18-25 will be where you will have a better chance at good scholarships. Think Kenan Flagler, Olin, maybe USC, etc.
Fair enough. I'm going to do everything I can to crush the GMAT, and then evaluate from there. Regarding Stanford- what are the glaring flaws that are keeping me out? I'm not salty about it haha, but the more I know, the more I can fix in order to increase my chances of admittance elsewhere. I'd be pretty damn happy with a solid T25 scholarship; any recommendations/anecdotal info you can share regarding where to look into fit-wise? Thank you for the response btw.
Stanford has a 7% acceptance rate and average GPA of 3.7+ (and GMAT of 732...probably around 750 for a white finance male). It's the most selective business school. You went to a non-target undergrad, where you got a below average GPA, and don't work at an elite firm.
Not trying to be harsh, but overall you're really under-estimating the difficulty to get into most of the schools on your list. I'd need more color around you're exact job to give you exact odds, but you need to aim for a mid-700's GMAT. A 700 with your profile won't get you into a top-15 school.
To put this in perspective, I am also a white finance bro, but was a college athlete at a D1 school, had 3.4 in a quant major at what is a top 15 school, a 730+ GMAT, and had a top brand name on my application (though mediocre WE at that top brand). I applied to three of the above schools, got into two and wait listed at the other, but was completely shut out of HSW and got zero scholarships.
It's hard in general to get money as a non extraordinary white/asian dude. We are so plentiful as to be almost commodities. The aid is much more focused around attracting top minorities/women/service academy vets. The main thing you should be doing right now is getting involved with extra curriculars that help refine your story and kill the GMAT. Also look to take on more leadership roles at work if you can. If you are set on needing a big scholarship and want that big school experience I'd focus on ND, USC, Vandy, Gtown, Indiana, UNC, and Texas (though I have doubts if some of those schools are worth the opportunity cost). At least a couple of those will likely throw some big money at you if you do actually get that 730 GMAT.
It's pretty hard to comment without more specifics on what your job actually is. There's a huge difference between say banking at a smaller shop vs BO/MO type work at a BB. I agree with AllDay_028 though - Stanford won't happen and CBS could possibly happen ED if you crush the GMAT but you won't be getting money there. The schools suggested in the his post are good ones to target.
Also don't mention in your application that you want to go into VC.
Sorry I can't share more about the role- it's a pretty unique gig and I'm throwing a lot on here as is. I do work closely with big name clients though; it's a solid analytical/client facing mix.
I'll definitely look into the schools he mentioned. Regarding the application- noted, I'll use the corporate strategy goal (which won't be hard because its also true). Any particular reason not to mention it though?
If you want, you can PM me your exact role, and I can give you more guidance (I've worked with the admissions committee in my b-school, so I know what's up).
I wouldn't mention VC because schools are going to look at your background and realize it is going to be impossible for you to get into VC and will be worried about you not getting a job. Schools want you to go down the structured paths because it's easier to get hired which boosts their employment stats and rankings.
No schools outside of the M7+Haas really feed into VC at all but Ross is probably the best bet if I had to choose as they have Wolverine Fund and some ties to some of the midwest VCs. Stern and UCLA are the others given their locations in major cities.
So would you say the wiser move would be to transition into corporate dev, then a finance/business role at a startup, and then try to break into VC? Also, do you know how VCs view experience in equity capital markets groups?
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