All,
I have an interesting opportunity that I figure I know what the answer to the question already is, but I wanted to post it here. I'm an associate in a relatively good BO job at one of the top BBs (think Risk/Treasury/etc). My goal has been IBD but it hasn't worked out until recently. I just got an offer from an MM IB to join as a second year analyst. However, I also just recently got a 750+ GMAT and being promoted to associate with my firms name and the gmat + having gone to a good undergrad I'm pretty certain I will get into a MBA business schools">M7 MBA this year.
So my question is should I take the MM IBD analyst job when I could matriculate at an MBA business schools">M7 instead and likely get into a BB post b school at the associate level. Especially when there are no guarantees I'll move from the analyst to associate level at the IBD job and may have to do b school anyways. Also note that the MM offer is not in NYC which I feel disadvantages me going forward.
Thanks for the input in advance.
@"OpsDude" tagging you in this, sounds a bit like your story, I know you're probably still getting settled at Kellogg, but help this dude out.
Sorry for the delay, I just got back from KWEST in Aruba with my classmates (it was awesome). To answer the question - getting into BB from a M7 is ridiculously easy nowadays due to the fact the banks are losing most of the top talents to consulting/tech/start-ups etc...plus with finance recovering, and analysts leaving for PE/AM/HF stuff, there's a huge need for post-mba associates. Although, its possible demand on campus will increase due to the recent pay bumps.
If I were you, I'd take the MM IB job and still apply to business school. Go to Business School, and take a GS/JP/MS BB job once you get out (with 9 months front office experience, you'll have a major leg up on your peers).
Also, business school is more fun than you could ever imagine, so it's worth it for that fact also.
I would do MBA personally. Should be pretty straightforward for you to get IB at a BB (perhaps even top given your work history).
Thanks for the input. Interesting though as I figured everyone would say take the IB job you have now.
Net/Net it seems like you will save a year and end up in the same place post-MBA regardless. Keep in mind there are a lot of bankers that dont ever go back for MBA school and just stay in the industry forever. If you think that might be you then I would accept the offer and forego additional schooling.
Id do the MBA and then try for a NYC BB spot. That'll open a lot more doors down the road than a MM IBD role at a regional office.
I feel like I say this in every thread but it depends on what you want--if your ultimate goal is to advance within IB, the go to the M7. The BB will open many more doors and having your MBA behind you obviously means you never have to take the two years down the road (which may still be the case if you do MM IB). If you want to get to private equity, there's more to consider. I wouldn't say automatically take the MM position but do consider it's harder to transition to PE/HF once you're an associate. Ultimately, you're in a pretty good spot.
Congrats on both the GMAT and the offer. Good luck!
Thank you (and everyone else) for the response. Could you expand on it being tougher to go into private equity at associate? Is this true across the board and at banks? Do you have to have done pre mba PE?
Thanks in advance.
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