TLDR my father works in a company which will cover up to 25% of his kids' education costs - which really attracts me to the MBA path. I've just started my 2nd year as an analyst in a BB in London, and was thinking about doing an MBA in Europe / US starting next summer.
What are your thoughts on this? Is it worth it? I'd potentially go back to IB, or PE, or even consulting as it's something I'd like to try out as well.
IMO there is no reason to go IB-> MBA-> IB. You are essentially paying to cut two-three years off your career. If you want to stay in IB just go A2A.
As a career switcher who started as an MBA associate last year I would only recommend an MBA post-IB in a few scenarios, especially if PE is the ultimate goal:
1) you get into HSW. Outside of these three schools PE recruiting will be very difficult. It’s not to say you can’t get an offer, but it is harder than getting the offer straight from IB. You will be making your own luck in a much less formalized recruiting process.
2) You cannot get your desired PE offer from IB. Again, if you can meet your goal without the time off, then don’t waste your time.
3) you want to change industries. If you want to completely leave finance and go to, say, PM in tech this is a solid route.
4) you want a 2 year vacation. Can’t fault you for that
Thank you, makes sense!
75% is still a pretty huge cost to bear, not to mention the missed earnings from the 2 years, plus you will start as an associate 1, losing 2 years of seniority.
At least in the US, you can't get to PE directly post-MBA without having done it pre-MBA. You can easily switch to consulting from IB if you want to, and MBA is not required to move up in any of those careers.
I don't think an MBA makes sense at all in your shoes. If you want a break, negotiate a long unpaid break before your associate promote, or before you switch to consulting if you want to do that
Thank you
Can’t comment on the US, but if you want to stay in Europe don’t do it.
IB Associate positions favor laterals over MBAs, so if you get anything it would be bc of your past in IB. And that may raise flags (i.e. did you try to switch careers, failed, and are now trying to get back to IB?).
The only time I would recommend an MBA in Europe is if your goal is to go to the US, for which a top US school is needed as sponsorship is an uphill battle (and trust me, it REALLY is since 2017ish), or if you come from a different industry. For your case you are better off staying in IB.
And what if I want to move into consulting? Would a European MBA not help? Or do you think that AN3 (IB) can move into consulting relatively easily?
I do believe that MBAs would help for consulting in Europe but I can’t comment on transferring rn as I have little idea of how the industry works.
Maybe someone else can shine some light.
have personally seen / heard of many people who move from IB to consulting. but generally the years of experience isnt matched. mck london for example would probably put you as a junior associate (equivalent to 1-2 years out of uni) if you have 2-3 years of experience in IB. not to mention the massive salary reduction you'd see.
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