Any success stories from non-top MSF programs?
Hello,
I was wondering if any of you had any major successes in MSF programs that are not necessarily considered top programs. By success I mean that you were able to make a complete turnaround, break into FO roles, be it in IB/AM/ER or whatever that you wanted to do. My problem is that for family related reasons I am applying only in cali (USC, UCSD, UCI, maybe Santa Clara), and besides USC my options aren't so great. I have been studying nonstop for 2.5 months to compensate my 3.0 gpa with a killer (750+) GMAT but you never know what might happen. I am currently 25 years old and by the time I finish a 2018 program I will be almost 27. I really don't want to wait another year to apply with a better resume. I have seen some people mention success stories from unknown MSF programs in these forums, but I wanted to get some opinions specifically for my scenario.
I have an ambitious 1.5 year plan wherever I go. I am sitting for CFA lvl 1 this summer, and lvl 2 next summer (assuming that I pass lvl 1). By the time the program starts I will use my CFA 1 to network to find any relevant internships (I believe this will be key since experience trumps everything else). I will try to get at least 2-3 internships throughout the year, network as much as possible, write ER reports/stock pitches. learn modeling, and continue reading finance books as I have for some time now. I want to build a career in AM/HF so I will consider myself successful if I am able to land either an ER, IB (not something I would like to do really), or anything in between by the end of all this.
I know money is what keeps most people away from such programs when they know that it will cost them another 60-80k, but for me prospects of success are priceless. I value my time and youth a lot more. So what do you think. Would it be possible to pull something off? Any relevant personal stories? I am very motivated going into the new year and wanted to hear some success stories. Thank you.
Happy New Years, Cheers!
The big difference between the top programs and secondary programs is the focus they place on career services. The programs you mention will have plenty of alumni in your area and you'll receive a fine education, but career services will be largely focused on undergraduate students and F500 type employers.
The key to success from these programs is networking, hustle, unpaid internships and preparation so you execute on the interviews you get.
You should also think incrementally. Maybe you don't get BB IBD right from Santa Clara. You can definitely get corporate banking, valuation, Big 4 TAS, credit analyst, etc.
From there, it is up to you to keep networking, move up, switch to banking, whatever.
As for the generic, shit advice of "just get a top 10 MBA", easier said than done.
1) MBA admissions is a function of UG GPA (in your case low) 2) Post UG work experience (it seems yours isn't great) 3) GMAT 4) EC's and Story
So if you went to a weak UG school, got a shitty GPA and have weak post UG experience, you can't "just get into a top MBA". You need something to bridge the gap. And in many cases, this is the MSF/MiM/MAcc/MFE, etc.
As far as MBA vs MSF, the MBA wins because it is older, more known and the best schools offer the brand. The material you learn in an MBA is a joke and the MSF is ACADEMICALLY far superior (as any specialized focused masters will be). The material you are taught in an MBA program is based on the lowest common denominator while the MSF should start much higher as all will have a similar finance background.
I know a large number of success stories from lower ranked programs. I also know a lot of people who didn't do much with their degrees. The deciding factor is are you going to hustle, network and do the things necessary to stand out. You need to get a great GPA, take full advantage of all the opportunities the school provides, and put yourself out there.
If not, it will be a wasted year and a lot of money.