I'm currently working in North America on a transfer from our London office. Over there, I got a direct promote to Associate (M&A) after 2.5 yrs of pain. Life as an Associate is much better - average around 50-60 hours a week...and the occasional weekend appearance.
Anyway, I digress...what I'm really interested in is the importance of the MBA. In London, its really not as pushed as over here - its seen more as a career changer (why pay for 2 years education to get the same job you had to begin with?). So, my question is: how feasible is it to stay in IB without the revered MBA, especially if you (as I do) come from a commerce background (2 degrees, one abroad, lots of mgmt courses etc)
depending on where you are, an MBA is not always necessary to move up the ranks in iBanking. I think the MBA becomes an issue in more "relationship work." For example, you should have no problem getting promoted to VP in an iBanki if you're good, because you're still usually just an execution guy, whereas in order to get promoted to director or MD, the bank wants to see deal origination skills. Deal origination "skills" usually aren't "skills" but good Contacts. If you don't have the contacts, then going to B-school is one way to get them. and expensive way, but effective no doubt.
I think in private equity an MBA is more of a necessity because it is the "stamp of approval" for fundraising / marketing purposes...whereas in ibanking, if you're smart and you work like a maniac the bouses and promotions should keep on coming. i don't think it is a "must have" for iBanking at all. good luck.
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