Do part-time MBAs at M7s place grads into IB?
Does anyone know if the part-time evening/weekend programs at top schools (e.g., U of Chicago, Northwestern, or other M7/top 15 schools in other cities) place grads into IB? I’m currently in tax at a Big Four and am hoping to use an MBA to pivot into IB, ideally in Chicago. I have a family to support, so I’d like to be able to keep my job at the Big Four until I start a summer associate position in this hypothetical situation.
I was in a similar boat but elected no MBA. NYU or if you are in Chicago, booth. I have seen it done from both, Booth much more so for whatever reason. The biggest thing is if you elect part time you have to do all networking on your own and won’t have access to the recruiting/interview process full time students do
Would you say it’s worth it in that case? Does it substantially improve my odds, or am I better off just going full-time and borrowing the extra money to cover living expenses?
Yes, I’ve seen part-time MBAs at Booth, Kellogg, NYU Stern, UT McCombs, and Columbia all place into IB. I’m sure other T20 part-time programs place too. Your opportunities won’t be as strong as full-time, but it’s possible to place well if you can craft the right story and you have a strong pre-MBA background. I sometimes wish I did PT as the curriculum is largely the same. I think a part-time program can even be a better experience because you can bring real world-real time application to the classroom.
Further, I agree with the aforementioned comment that you will have to do all the networking and jumping through the recruiting hoops by yourself as a part-time. This is due to the fact that a part-time is not eligible for a summer associate program (the main pipeline for new hires)
Do the summer associate programs not consider part-timers at all? Just curious. I think I could maneuver things with my current job to take an unpaid leave of absence during a summer associate internship. There’s not a lot of tax work going on between 4/15 and 8/15 usually, so I think the firm would be happy to not pay me for a few months.
I get what you are saying but your wording is kind of misleading - it's not factual that PTs are not eligible for summer associate - my firm hires a bunch of PTs every year and they are absolutely eligible
the issue is most are not able to leave their firm for 3 months and return, and people doing PT typically can't afford to lose income. but that is up to the candidate and often they can take a LOA or just take 1 year off from working, it's not an issue where they aren't eligible to do the internship
I've seen a ton of people work out a leave of absence with their current firm - especially somewhere like tax where the work is seasonal and they wouldn't mind sending an "alum" off to banking on good terms
Definitely not true, PT are definitely eligible for summer associate roles, the biggest obstacle is getting invited to the events but easy enough to do if you network with enough people, the banks don’t care if you’re PT or FT, they come to the M7 schools to recruit and are just looking for the right fit
This is just objectively false. Maybe it is true for Stern but def not for Kellogg/Booth. Also have heard from friends in Houston and LA that Rice/McCombs and UCLA/USC PT also places well if the student has good enough profile and puts in the same level of work that banks expect from recruits. Don’t know the details for these schools though, but for Kellogg/Booth it is a level playing field
I was in the same boat….went to part time mba cause had to support my family and keep paying the mortgage….decided on pursuing IB after my first quarter, got in with the banking clubs and then recruited the following year, there’s definitely more legwork as a PT student because you have to earn invites to recruiting events through your own networking, however the process is very similar as FT and lots of PT students from my school placed into banks across the full spectrum (BB, EB, MM)….the only warning I’ll give you is that your life is going to be very full, you’ll see your family very little between recruiting, work, and classes….guess it gives you a good preview of an IB career
I'm an exec MBA, currently interning at an IB. Its certainly doable, expect it to take a lot more legwork than for full time students as you wont be on campus for every recruiting event. Would also add that if your goal is BB or bust right out of your program, PT isnt your best bet.
Happy to answer any questions.
A lot of what is being said here is a bit outdated. Booth and Kellogg PTers have been getting access to on-campus recruiting just as much as FT students in the last 2-3 years with equivalent success ratio. No need to “network your way in” anymore because they have access to info sessions on campus and are included by HR in all communication. Know people who have gotten offers or superdays at GS, MS, JPM, Evercore, Centerview, Moelis, Lazard, and other BB/EB/MM.
Up until a few years ago it was true that PT students had to create their own opportunities, but at least at Booth and Kellogg that is no longer the case. There just aren’t that many PT students interested in IB relative to the FT classes.
I know Booth does very very well with PT program and has for a while - lots of people fly in every week just to attend if that gives you an idea of how strong the PT program is. I would not stray outside of the M7 for PT, top 15 is doable if you are full time but I wouldn't take a chance doing PT as well.
FT definitely has the best opportunities, but that is a lot of debt... if you can get into Booth PT I think you will be fine from there. You should also look on LinkedIn when networking for others who have done Booth PT (can tell by whether or not they had a job during MBA, kind of manual but if you can find PT program alums they will fight for you)
I don't know Kellogg well enough to comment so will leave that to others.
Yes, you can get into IB as a PT MBA candidate. Especially if you're looking for an IB job in Chicago.
Consider this, though:
Fair points but nobody needs to find a job between summer associate and full-time. Kellogg does not like PT students who are unemployed but if you have a full-time offer locked in, that should eliminate any issues with the school. Booth, on the other hand, does not care whether PT students are working or just studying full-time.The difficulties associated with summer associate recruiting are merely self-imposed (e.g. your job is not flexible so you aren't able to schedule coffee chats during business hours) rather than anything coming from the school or banks themselves. Also good point on Chicago. Nearly every group in Chicago has at least one PT alum, so there is no extra hurdle there. Most PT students tend to recruit in Chicago anyway.
By summer associate to full time recruiting pipeline, I am specifically referring to there being a 9-12 month gap between the end of your internship, and the start of your full-time job. I don't know how common it is for Chicago banks to roll summer associates directly into full-time positions, but in New York at least it seems like 90% of full-time spots are filled by returning interns.
So OP would have to work out some sort of arrangement with his job to let him work elsewhere for 3 months, come back for 9 months, and then go off to his new job. That, or find some 9-month long temporary gig to pay the bills.
Let's put this to rest (source: PT MBA graduate who did IB internship / got offer / didn't go back):
- It is 100% possible from most PT programs to recruit (Chicago-based schools, Ross, likely others)
- It is very hard to balance recruiting with a full time job - you need to make time for 50+ coffee chats and often attend employer events in person
- Banks largely look at you the same - in general, I actually thought I had a leg up / could stand out saying that I worked in finance while doing an MBA and was still recruiting
- Employers will occasionally, but rarely allow you to return after a summer internship. Better bet is planning on not working (you will have to make up classes) or do some part time work
Damn he just ether’d this thread.
Move along. Nothing left to see here.
An observation having done part-time:
I really wouldn’t recommend doing part time unless you are having your degree paid for by your current firm and/or you plan on staying at your firm.
How long ago did you do PT MBA?
Last year. I’m all for choosing alternative paths, so here’s a few points I’d diligence:
Interesting. Agree with pretty much all you said except "less pedigreed banks". As I said above, have seen PT from Kellogg/Booth land superdays/offers at all "top" banks. Maybe if expand this to T20 schools that is true? Your comment on average PT student having weaker academics/scores is correct, but worth noting that the average PT student pursuing IB tends to be stronger than the overall PT population. Bottom line is if a PT student has similar academics/resume as FT student, they will have similar chances.
That I don’t disagree with. There are some ringers in the part time program—I was one of them. I also had pre IB and PE experience in the part time, but that’s not the norm.
I think it’s possible to do, just there are a lot of things working against people. If you are indeed smarter than average and more motivated, you can pull off a lot of things. My experience was that wasn’t the majority of people who did IB. Most were less capable people unaware of how competitive getting a job in the field was.
Should have included this in my post as well - spot on with regard to grades/work experience etc. I would also throw in EQ. I've fielded plenty of calls from other PTers asking about the path to an IB internship--most don't have the discipline or understanding to pull it off. The schools give you the tools to be successful but it's 100% on the candidate to make the time and do things the right way.
Since I think this is good to see and I want to add more balance too:
I think for someone more deterministic, the part time program can be great. I stayed in PE while doing my degree at booth and am very glad I did it. I’m further along in my career than people who got their mba full-time, have several hundred thousand more in savings, a network I can use in addition to my undergrad, and a brand that adds pedigree and that people do like to see for senior levels of management.
It was painful to complete while working a demanding job, but being credentialed matters. People can blow shit at all non-Harvard/Stanford/wharton degrees on this forum, but they just are wrong. When you look at a leadership bio, seeing booth or Kellogg adds credibility/ checks the box. Are there certain firms that really will only hire from hbs/ gsb? For sure. But, an mba isn’t just about getting a job. There is a level of professional credibility that comes with someone having an mba much like someone having a solid undergraduate institution for their entire career. My reason for going was checking a box and adding credibility when I raise money or speak with someone—it does that. I don’t need the wow factor of hbs because I know what I’m talking about and everyone can tell when they speak to me professionally.
Further, in the Midwest the brands are equal with anywhere else. No one gives af if you went to hbs or booth, what matters is if you are good at your job and have professional experience. Part-time gave me 2 years extra experience on everyone else my age and the people that didn’t get their mba at all I think will always appear more junior than they are.
That’s the pro side of why a part time degree makes sense—but again you gotta be more self-deterministic.
Booth PT tuition: 20 x 100-unit courses @ $8,096 per = $161,920
https://www.chicagobooth.edu/mba/part-time/admissions/cost
Booth FT tuition: $161,922
https://www.chicagobooth.edu/mba/full-time/admissions/cost
Kellogg PT tuition: $167,352
https://www.kellogg.northwestern.edu/programs/part-time-mba/tuition-and…
Kellogg FT tuition: $162,030
https://www.kellogg.northwestern.edu/programs/full-time-mba/tuition-fin…
Booth fees turned out closer than I expected, but Kellogg charges a little extra for part-time. And these fees are only going up, and up, and up...
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