Advice needed - small/local bank or more prestigious non-local bank? - and MBA admissions implications?
Hi everyone.....looking for some advice here. Let me give you some background about myself:
-Graduated (undergrad) in 2012 from a non-target school as an accounting major (graduated Summa Cum Laude – top 1% of class)
-Worked for 2 years as an audit associate at PwC
-Have worked the past 10 months as a Senior in Transaction Advisory Services at EY where I am currently doing buy and sell side financial due diligence work.
-I have my CPA (won a prestigious award from the AICPA for having one of the top 30 CPA exam scores in the country in 2012)
-Passed Level 1 of the CFA Exam in December 2014 and am currently studying for Level 2 – registered to take it in June.
-Have not yet taken the GMAT but am confident I can pull a 700. Plan on starting to study once I take the Level 2 CFA exam. Targeting to go to business school in Fall 2017 (I will be 27 then).
My goal is to jump into investment banking this summer. There are only four-to-five IB’s in my city, all of which are small and are not nationally recognizable. I’ve lived in the same city my whole life and am struggling with whether or not I should try to get an analyst position at the most prestigious IB possible – regardless of location – or if I should settle for one of the local banks for now and then try to break into a BB post-MBA. While I’m pretty confident that I would be able to get an analyst job here in town, I am afraid that working at a small, unknown IB will hurt my chances of getting into a top MBA program and will hurt my career/resume. How do top business schools look at applicants coming from smaller banks? The thought of leaving the city where I’ve lived for 25 years and moving to a city where I would not have any family or friends has me questioning what I should do. Ultimately, I want to do what is best for my career, but unless the value of leaving is clearly worth it I would prefer to stay local.
What would you do if you were in my shoes?
Thanks in advance for your help
Define "city"
Question: if you want to do an MBA at a solid school and go to BB banking after, won't you be leaving your city and moving away anyway? Why not do it a bit earlier in that case, and reap the rewards of the better brand etc?
City = Cleveland, OH. Only banks really are Key Bank Capital Markets, Brown Gibbons Lang, Western Reserve Partners, and Harris Williams (small office).
Right - obviously going BB post-MBA would mean moving. You think the advantage of moving now to get to a better brand would be worth it in the end when it comes to both MBA admissions and my ability to jump to a BB post-MBA? What types of banks would you think I should be aiming for right now / do I have a solid shot of getting interviews at?
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