MBA prospects in CF?
Hey, I'm a little new to the world of finance so I'm sorry if my question is full of ignorance - I'm putting all the information that I think might be relevant in the question, so there might be superfluous information (or maybe additional info is needed; I'll be happy to provide it if some other info is needed)!
I'm a student at a highly regarded northeast university (non-ivy, but target for finance jobs), and I'm an incoming analyst intern in the finance department of a F50 in a "tier 2" city (according to this forum, but the city is quickly becoming more and more of a hotbed for corporate HQs and major branches).
I was wondering what the opportunities look like a few years post-graduation for someone who begins their career as an analyst in finance for a large corporate non-finance company. My GPA is lowish to average at best, around 3.2-3.3, in a very difficult major in a notoriously tough department.
If I'm able to move up over the course of 5-7ish years and get a top GMAT score, would I still be considered for top MBA programs, and would I be able to get into something like PE/HF/VC post-MBA? I ask this because I know that I'll be competing against people with more traditional pre-MBA backgrounds (BB, EB, MM front-office jobs and pre-MBA consultants). If not, how does the lifestyle/comp/hours of someone from a top MBA in corporate finance look?
I'm in a similar situation and have done a bit of research on this. I suggest you check out Poets & Quants for more discussion on getting an MBA and accepted candidate profiles at top business schools.
PE/HF/VC post-MBA is going to be tough without relevant experience (i.e. IB/PE/etc.) beforehand, regardless of the MBA program that you get into.
3.2-3.3 isn't that much of a dealbreaker for a top-tier MBA, if you can crush the GMAT and perform excellently at your job (i.e. get glowing recommendations and promotions). H/W/S might be out of reach, though.
Corp Fin post-MBA is highly dependent on company/industry. Typically, you will be looking at a base salaries between $105k-$130k.
To add to the above comment PE/HF/VC is difficult to recruit for from any top MBA. They are the hardest industries to get into
As far as corp finance, some of the programs that come to mind are: Chevron FLDP, General Motors Finance, Microsoft, Exxon Mobil, Google Strategic Finance, Amazon Finance LDP, etc
There are a ton and these jobs and are by no means easy to get. Base pay is going to vary by industry. I would guess that the range is more like $115 - $150k.
$150k base salary would be at the very high-end of the spectrum. They exist, but probably best to temper expectations. Amazon is known for paying MBAs quite well at the beginning, and I believe their post-MBA FLDP starts you out at $130k base. I've heard Chevron's pays extremely well, and I've seen something like $200k (all-in, though), but haven't been able to verify it.
Agree that $150k is at the top of the spectrum. The range provided was from my experience recruiting in Fall 2019 for full time 2020.
The $150k base was acutally for a general management program, but I assume there has to be finance programs out there that pay similarly.
I came from a similar background (FLDP) and grapple with this question of going back to school, but that would be to get off the CF track. I'm curious why you would go back to school (full time) to return to CF? You're already at a F50 FLDP and will likely be making close to post MBA CF salary by the time you went back to school. Are you thinking you're that limited by your semi-target background? Seems to me if you decide you want to stay in corporate finance, you're well positioned to focus on your work product and let that open doors for you rather than looking to drop some serious time/$ on bschool.
You make a great point, and if I were to pursue an MBA, I would definitely do it to change paths. I don't know whether or not I'll end up liking CF, so the thought is way at the back of my mind right now (it's a decision I'll make years from now), but if I am to apply to business school, it would definitely be because I want to pivot out of CF.
I'm sorry if I wasn't clear, but I was wondering more about what things would look like in the corporate finance world if I were to fail in getting a job in the PE/HF/VC world post-MBA. I realize that this would be a less-than-ideal situation, and I might be making a comparable amount of money in CF post-MBA than if I would have just stayed on, but would there be any room for optimism, i.e. having an easier time working up through management?
Thanks so much for your insight!
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