Career Path Advice

Hi WSO Community,

I’m reaching out for some honest advice on whether I should pursue a masters in finance to break into investment banking/ asset management, or possibly pursue an MBA later instead:

Background:

• Economics Major, 3.7 GPA
• Rising 3rd at non-target in the midwest
• Switched majors/ career path 2nd year winter quarter (Quarter system)
• No internships, two on-campus jobs (RA and Desk Receptionist)
• No campus extracurriculars/ clubs, plan to join 2-4 relevant clubs fall quarter
• Up-and-coming short term study abroad in Asia for financial services this December (If helpful in my situation)

Dilemma:

I am aware that my current profile is not exactly what is needed to break into IB or AM. So I am between pursing the following:

1. Pursue a MSF
   1. Pursue a Math Minor (to gain the prerequisites needed)
   2. Gain 2 relevant internships (1 on and 1 off-cycle)
   3. Take GRE Fall 4th year
   4. Apply to MSF programs: MIT Sloan, UChicago Booth, UIUC Gies, Vanderbilt
      1. If admitted, apply for IB and AM in New York/ Chicago
      2. If not admitted, apply for finance rolls related to internships in Chicago
2. Pursue an MBA or Lateral
   1. Pursue a Finance Minor (For relevant classes for internships)
   2. Use alum network to gain 2 internships (1 on and 1 off-cycle) in Commercial/ Corporate Banking or Private Wealth Management
   3. Hopefully graduate with a job in CB or PWM in Chicago
      1. Use my experience in the given fields to lateral into IB or AM
      2. OR Work in given fields for 2-4 years, then apply to T15 MBA and go for IB Associate in New York/ Chicago

Further Background:

• Since I switched majors, I have a limited amount of space for my classes so I can only have 1 minor
• Many alumni work in CB and PWM at large banks in Chicago
• With my location I am able to work off-cycle internships in Chicago as a plus

What would you do?

1. Shoot for a top MSF program?
2. Start off in CB or PWM and work up from there?