Ask Natalie from Accepted about Business School Admissions
WSO is excited to have the experts from Accepted on board to answer applicant questions in the business school forum. Here are messages from Natalie and Jen who will be checking this thread every few days:
Natalie
I'm here to answer any questions you have regarding Business School Admissions. I am a former Admissions Dean and Director and currently a consultant with Accepted. While at Accepted, I've helped clients gain admission to top BBA, MBA, MFE, MF, MCF and PhD programs over the last 7 years and I'm happy to answer questions you have about Business School Admissions. - Natalie (@Natalie_Accepted")
Jen
I'm happy to answer any questions you have regarding business school admissions. I am a former Assistant Director of Admissions at Cornell who also worked in career services at Duke Fuqua. For the last six years as an Accepted admissions consultant, I've helped applicants gain admission to top MBA, EMBA, and MF programs. I'm delighted to answer your questions about business school admissions. - Jen (@jenweld")
If you would like a profile evaluation for schools, please provide the following info:
1) Brief description of your full-time work experience.
2) Your GMAT or GRE. Percentiles preferred.
3) College info: The name of the college, your GPA or grade average, your major, year of graduation. For any graduate degrees, please provide the same info. If you grades are low, please indicate if there were extenuating circumstances.
4) Significant college and post-college extra-curricular activities or community service, especially leadership experience.
5) Important certifications like CFA, CPA, FSA, or CA.
6) Your post-MBA goal.
Or if you just have a different question about MBA admissions, we'll do our best to answer it.
Hi Eskimo Brothers, I have successfully worked with part time clients for all three schools you list and also reviewed and made final decisions on applications for 12 years for part time applicants (also full-time and undergraduate) as an admissions director. Since GMAT isn't the only measure for schools, I'm happy to take this conversation off line and you can send me your resume. Just click on the link http://www.accepted.com/aboutus/nataliegrinblattepstein that says, "have Natalie contact me" and I can review your transcripts, work experience and we can chat about why you are interested in an MBA. I would also like to see your GMAT breakdown (Q vs. V) and if you want to share your AWA and IR, I'm happy to look at that as well. The Q has a much stronger correlation to your performance in the core courses. I realize that may not be a factor for Booth because they really only have one required core course. When you click on the link and get to me, please let me know that I met you through WSO. Warmest Regards,
Natalie Grinblatt Epstein Admissions Consultant & Former MBA Admissions Dean www.accepted.com/mba My bio | Contact Me www.accepted.com
I already have an MBA, but am thinking of applying again for another degree for a two year vacation, a chance to share some of my experiences with the next generation, and to flex my gray matter a little bit. Also, I intend to drink all of my classmates under the table. Of course, I'll write something more constructive in my essays.
I've had a succesful career in trading and senior management positions in a global investment bank. But, as you may know, I also faced some challenges along the way.
My GMAT is stale, but assume I will score noticeably above the average at any school. I am also a touch older than the average candidate. My wife doesn't work, so I can move anywhere.
My questions are:
Do you think MBA admissions folks will value my unique background or will they shun me because of some of the (undeserved, in my opinion) bad press I have received over the years?
What schools should I be targeting?
Hi Dick,
Some schools welcome students that have MBAs for refreshers into their EMBA programs (and some do not). I don't remember drinking "classmates under the table" as being a prerequisite to any program, but I can tell you that Wharton's San Francisco program overly emphasized the bar in the hotel they use at a recent information session I attended. I would like to know more about you, why your experience is unique and also why you received bad press. In aggregate, admissions directors are somewhat risk averse. I need to know more about you before I can suggest schools. Please contact me by clicking on "have Natalie contact me" on my bio page http://www.accepted.com/aboutus/nataliegrinblattepstein and we can discuss schools to target.
Warmest Regards,
Natalie Grinblatt Epstein Admissions Consultant & Former MBA Admissions Dean www.accepted.com/mba My bio | Contact Me www.accepted.com
Thanks for the response. I threw you an SB.
Click on the link in my signature for a little more detail on my background.
Hi Wilhug,
It's about the quality of experience that you have and how your public sector experience ties into your goals. I suggest you review our free special report http://info.accepted.com/mba-special-reports/ The MBA Action Plan. It will also depend on the schools to which you plan to apply (some schools like younger candidates and some schools like more seasoned candidates). You are welcome to get in touch with me for more information by clicking on the have Natalie contact me link http://www.accepted.com/aboutus/nataliegrinblattepstein
Natalie
Hi SuperAndy. The 11 months off is a concern. What did you do in that time? In terms of leadership, you're never too late. Get involved with your community or at work. Articulate your vision for the organization with your colleagues and subordinates and get buy in from your supervisors to push your vision forward. Admissions committees want to see that you've demonstrated leadership and can quantify your achievements. Did you increase revenues? Decrease costs? Increase efficiency? Increase market share? Increase shareholder value? If so, by how much. Think about your Deltas. What happened before Andy started with the organization and what happened after Andy left the organization (or completed the project). I also recommend you review Leadership in Admissions http://www.accepted.com/mba/application.aspx. You can also contact me directly by clicking the tab "have Natalie contact me" http://www.accepted.com/aboutus/nataliegrinblattepstein.
What do you believe are some common characteristics (aside from the obvious good GMAT/GPA) that you see in applicants who are successful in getting acceptance at a top school?
Worklikeamachine, you ask a great question. What is the secret sauce? Applying to school is very similar to blind dating. On the adcoms side of the table, they are trying to figure out if they want to have a 5 course meal with you or a quick coffee. Why would you want to have a 5 course meal with someone? They're interesting. They do things that are unique. They inform you about things you didn't know (you can educate the adcom). They keep you glued to their every word (both in the application and in person). In creating a class, the admissions director must take his or her applicant pool and make a beautiful mosaic out of these incredibly diverse pieces. Each fitting together to make a class that will demonstrate their leadership, their creativity, their foresight. Each school has its nuances and you need to get to know what the school values. If its not what you enjoy, then you may want to think about other schools. To summarize: the candidates that stand out show initiative and drive, a demonstrated record of achievement, collaboration and leadership, passion (not just for work, but for hobbies, activities and/or service), strong communication and interpersonal skills, courage, creativity, maturity and self-awareness. They are proactive, fearless and loyal. They are open to advice and conduct their research. They know their strengths and weaknesses and want to or already have begun to address those weaknesses. The secret sauce: you need to intrigue the committee and set yourself apart from your competition because of who you are, not just what you do.
OvercomeAll, I'm so sorry about your illness. As a former director/dean, my concern would be that I know you are bright, but is your illness going to impact your school work at Stanford? You need to figure out a way to convince Derek Bolton and his team otherwise. Also, I'm not sure what you mean by "nice" recommendations. I hope you mean they tell Stanford that you are the best candidate they have ever seen. Nice won't cut it. Having said all that, one of my favorite and most successful students had a 2.2 GPA and 780 GMAT. He wasn't ill, but someone in his family was ill. He did make an appointment to see me and plea his case. He was incredibly convincing because I admitted him and he graduated top of his class, became student government president, class president, gained a job at a top consulting firm and is now an MD at that firm. He was proactive in taking courses that made me less concerned about his drive to complete our courses successfully. He also recently received an alumni achievement award from the school. If you want to take this off line, please contact me by clicking on the "have Natalie contact me" link http://www.accepted.com/aboutus/nataliegrinblattepstein and we can chat this week.
Natalie
Thank you for your comments, Linda. Glad to hear that I am on the right track currently, and I will look into the other schools you mentioned as well.
I actually listened to your podcast about GPA during a road trip a couple of months ago, and found it to be an extremely helpful (and calming) resource. Your blog, podcast, and notes on this site are all extremely valuable, thanks again!
Dear Willois,
You are correct that your stats as of now are not competitive for a top MBA program. Is there a reason you want to rush into an MMS rather than work for a few years and then apply to an MBA program? I have worked with several clients who did an MMS and then eventually felt they needed the MBA as well, so if the MBA is really what you want, it strikes me as getting the work experience and nailing the GMAT will go a long way towards making your profile competitive in a year or two.
Dear frenchvanillacreamer,
You will certainly be considered a viable candidate with your statistics and work experience at all the schools you are looking at. International candidates are always taken seriously as admissions committees want to put together the most diverse class possible. What you need to make sure you manage is expectations for internship/full-time job. As I am sure you are aware, placing international students in US-based jobs can be difficult, so you just need to keep that in mind as you prepare your application package and think about what your goals and objectives are for the programs you are looking at.
Hi TimBrad,
As I am sure you know there is much less pressure for top stats with part-time MBA programs. That said, you want to be sure you discuss the mitigating circumstances (working your way through school) in the optional essay. Looks like you have solid work and community experience, which is also good. Provided you can put together a good package, I see no reason why you wouldn't be considered a serious candidate. For tips on how to overcome your weaknesses, have a look at our resources related to that on our website: www.accepted.com/mba/applicationweakness
Hi ThisWay,
While the 700 score is not the greatest, it is still solid, and with the very strong 3.9 GPA at a top school I think there should be no concern about your academic ability. I would be sure to focus your essays less on work and more on personal stuff if the questions allow. It is hard to stand out from the pack at top schools with the work experience you've got, so focus on other aspects as much as possible. Have a look at our MBA special reports for more tips, or feel free to be in touch with me directly (contact info in my signature): www.accepted.com/mba-special-reports
Hi,
Thank you for taking the time to do this. I am looking to get into Columbia MBA and wanted to know what I could do to best position myself and if I have a shot down the road. Here is what my current bio looks like
I am considering doing the CAIA and CFA level1 to try and compensate for my low GPA. Is this recommended? Also what do you think my chances are of getting accepted to Columbia or similar strength MBA program after staying at my current firm for a few years.
Thanks!
Hi takesnotes08,
It looks to me as if you would have an interesting profile for Columbia. As long as you get a strong gmat score (720+), I don't think there will be any need to explain away your GPA. Since you were running your own business in college that seems like a pretty good reason to have not done as well as you might have liked (obviously this is something you would want to mention in an optional essay). It is hard to differentiate your work experience from the pack, but the fact that you ran your own business and worked in Africa will definitely warrant a serious look.
Hi freefly,
You obviously are a really solid candidate with top credentials (academically and work-wise) and strong extracurriculars. Do you have any international experience? If there are opportunities to take on an international project I could see that as one way of further solidifying your candidacy. Obviously a promotion between now and the application would be great, too.
Dear EE_cons,
I'll be honest that I am not feeling great about your chances at the schools you are looking at, primarily due to the low GMAT score and lack of extracurriculars. If the MBA will be company-sponsored and your plan is to return, you might want to think about waiting and doing an EMBA program in a few years. The GMAT score averages are lower and there is more emphasis on career progression to that point. If you excel in your career between now and then (promotions, increases in responsibility), you may be considered a more viable candidate. Here is a blog post on EMBA pros and cons that may be of interest to you: http://blog.accepted.com/executive-mba-pros-cons/
Regarding your specific questions: 1. As your profile stands right now, not great. 2. To improve your profile I would start getting involved with something you feel passionate about in the community as soon as possible, since you don't want it to appear as though you are padding your resume. 3. H/S/W networks are global and extensive, but probably in Eastern Europe I would guess there is less concern with the cache that comes along with those programs. As such, a more European-centric program could work for you.
Hi jenweld
Thanks for taking the time to evaluate everyone’s profiles! I was hoping that you might be able to provide some insight as to what kind of odds I might have at M7 schools next year?
1) I have spent 18 months in audit oversight at BNY Mellon/JP Morgan/State Street – it is a mixture of fund accounting, responding to client/auditor requests, and managing relations with audit firms. I have not yet been promoted as I have been trying to move into a research/trading/relationship management role, but my manager has intimated that he would promote me if I asked him to. I may do that quite soon since I haven’t been able to generate much interest in the job market. Prior to graduating from college, I had internships with a mid-cap insurance company in a project management role, and a federal agency in their congressional relations arm. 2) 730 GMAT – 96th percentile (48Q – 71%, 42V – 96%, 5.5 AWA – 81%, 8.0 IR – 92%). I took it almost 100% cold and am virtually certain I could hit a 50/51Q with some studying, and probably 44/45V. 3) Graduated in 2015 from a well-respected northeastern US liberal arts college with a 3.73 – double major in Math and Political Science. Phi Beta Kappa, Magna Cum Laude, Pi Mu Epsilon (math honors). Health issues my senior fall brought me down from a 3.85 but I doubt I’d mention that. 4) 4-year member of the rowing team, which was ranked 17th in D1 my senior year. 4-year member of an a cappella group. 4-year tour guide. Elected to Math/CS student advisory committee. Professionally, I have been involved in a taskforce group for my current employer which has overseen some business division initiatives (for instance, we started an exit-interview program). I am also a frequent speaker at employee onboarding events – usually twice a quarter. 5) I am taking level 2 of the CFA exam in June 2017. 6) My post-MBA goal would be portfolio management. I think I can sell my goal since I have generated a 34% return over the past 6 months (when I started investing myself) trading/holding equities, but my work experience isn’t obviously useful for being a PM. It's sort of a career change that I'm targeting, but I'm still starting out from within the financial services industry.
Thanks and Happy New Year!
Hi Europe Monkey, Can you shoot me a message off line at [email protected] and send me your marking papers? I need to see the subjects that you studied in school and your resume if you also had internships or worked while in school. Just going by this blindly, as a European you have a slight advantage in gaining admission to US programs. Consider MIT as a stretch or Brandeis and Washington University as safeties (my suggestions may change after I see your coursework). Other European schools to consider: HEC Paris and Oxford (stretch), Imperial College and Frankfurt (match/safety). You may also want to think about schools in Asia like University of Hong Kong because you could bring a tri-continent perspective to an IBank on cross-border investments. Good luck, Natalie
Dear NonAmericanPsycho,
To answer your question about evaluation of British candidates, most schools have a target percentage of international students they wish to enroll each year. Proficient English is obviously necessary, along with strong academics, good gmat score, strong work ethic, and good career placement opportunities. As such, British applicants are very well thought of.
In your case in particular, you will be considered a serious candidate, however round 1 in the next cycle probably works more to your advantage. By the time round 3 comes around, schools can be very selective in terms of how they round out their cohorts, usually going for more non-traditional candidates since they probably have a fair percentage of the more "typical" functions already enrolled (finance, tech, etc.). Since your work experience is solid but not all that differentiated, you probably have a better shot in round 1 next year. If you decide to wait, consider taking the GMAT again as well. While 700 is a good score, the higher the better at the schools you are considering!
Dear Michael90,
I am a colleague helping Natalie out on this forum. You appear to have solid credentials to be considered for a top 20 program. The experience in Shanghai along with the Chinese language is especially a good differentiator. The 720+ GMAT should definitely be the goal.
In terms of being considered for a job in the US, I am sure you are aware of the strict Visa issues. Therefore, you can certainly have a US-based job as a goal, but have a solid non-US back up plan you would be comfortable with before applying, so you manage expectations during the application process (goals essay). I have had several international candidates who have been able to find US-based jobs, but have had to work hard to do so (in other words, don't expect a career services office to be able to hand you a job). Be prepared for that.
As for extracurricular activities, it matters less what you do and more the commitment you show towards your particular area of interest (animal shelter, Toastmasters, Big Brothers/BigSisters, etc). Don't just volunteer, take on an active role either on the board or committee within the organization. Do all you can to make a tangible difference.
Dear monkeybusiness99,
Obviously H/S/W look for the best of the best. You have great academics and solid work experience (though in an area of high-representation in the applicant pool). Creating your major sounds like a possibly interesting angle to pursue in the application process, as well as focusing on your extracurriculars to differentiate yourself from other candidates.
I am not sure what you mean by "first year college student?"
In terms of other schools to consider, I would look at Booth, Columbia and NYU.
Hi Aurelius9,
I am a colleague of Natalie's helping her out.
I think the biggest challenge for you is telling a cohesive story about your background so it all fits together and gets you to the point of aiming for an MBA. If you can weave everything together, you have good stats, so there won't be concern about your academic ability, and you should be considered a serious candidate at the schools you mention in that regard. If it's possible for you to engage in an activity outside of work I would encourage you to do so - most successful candidates to top programs somehow manage to fit extracurriculars into seemingly inhospitable schedules.
In terms of timing, it seems like putting in another year in the renewable energy sector strengthens your story about focusing on that post-graduation, so focus on taking on increased responsibilities to bolster that whenever possible.
Thank you for your time - I was hoping you could assess my profile and maybe help me decide for or against using a application consultant and to what extent.
White Male, 25 y.o., total 4 years experience upon entering Fall 2018 class. 1.5 years tier 2 strategy consulting, 2.5 years MM Tech-focused PE. Great project experience on the consulting side which helped lead the transition to PE. PE deal experience has been OK with one sell-side transaction, one secondary equity round with debt refinancing, but no new deals, but solid portfolio company work and fund that has a great reputation and performance. 740 GMAT but a 3.2 GPA in Economics from top 15-20 school, but near minors in all three math, comp sci, and physics - was late major switch from engineering to econ. Extracurricular involvement has waned since transitioning into PE but were formerly weekly tutoring at a local high school, leading a junior board of non-profit.
Ideally targeting Booth, Kellogg, Ross, and McCombs with potentially a reach to Stanford or Sloan and a safety of Tepper. Trying to center on midwest and look for a tech focus. Would pursue opportunities in strategy consulting and PE upon graduation trying to stay in the tech sector.
I was planning to hire a consultant, but when should I reach out to them? If I plan on applying to 4-5 schools how many essays should I have reviewed? Should I purchase counsel 1 application at a time to guarantee attention?
Also, I am worried that asking my current employer for a letter of recommendation will cost me my annual bonus because it is a small firm, and I have heard from former employees that went to MBA that it has happened to them. Is this common? How can I work around this or do I have to bite the bullet? (50% of comp is bonus)
Thank you in advance!
Hi Vincent,
I am sure you are aware that being a white male with a finance background puts you in a pretty big pool of MBA applicants. As such, an admissions consultant can be very useful in terms of figuring out how best to present your story in such a way as to grab the attention of an admissions committee. You have some positives in your profile that can and should certainly be highlighted (and no doubt there are more than what you wrote here).
In terms of when to book with a consultant, that depends on when you plan on applying (I would suggest round 1 and certainly no later than round 2 considering your demo). If round 1, all essay questions and application instructions for schools should be out by around June 1st, so whenever after that you are ready to get started is when you should sign up. I usually suggest working on the application that has the most essay questions first, as then you will have a library of content to adapt for subsequent schools (most schools have a question or two that are pretty similar in nature). Beyond that it depends on your budget and how confident you become after completing that first application. At Accepted we are sure to provide the attention you need for as long as you need it!
Finally, it is a big red flag to not have a recommendation from your current employer. Unless you have a convincing argument against that you put forth in an optional essay, you should bite the bullet (and unfortunately the chance of missing out on a bonus won't be a very convincing one).
Please feel free to reach out to me offline if you would like to consider working with Accepted.
Hi Natalie/Jenn,
Curious to hear your thoughts on my chances...
I graduated in 3.5 years from one of the smaller business focused UG schools in New England (Bentley/Bryant/Babson). I did this because I got married to my wife, at a pretty young age (21). I graduated in December of 2009 (obviously a tough year for finance majors) with a ~3.3 GPA. I struggled to find direct finance work (nor did I have a family who knew anything about business or finance pushing me to the "right" jobs) and took a fund accounting role for a year, then moved to another state for 2 more years (all while supporting my wife while she completed her UG program). During that time, I completed 2 of the 3 CFA exams and was able to land with a strong regional firm investing in private credit (senior secured, mezzanine+ private equity co investments). I also finished my CFA and received the charter. After spending three years there, we moved (for my wife's work) and I took a job in a similar role at a bank (think SunTrust/Regions/Capital One/Wells Fargo), but focused on senior secured lending to middle market and large corporate clients where I have been for the past year as an Associate. I am on track to be promoted to Assistant Vice President by the end of 2017 (with a bump in compensation to ~$150k inclusive of bonus).
I know I am getting old for an MBA program as I will be 30 in October,, but wanted to get your thoughts on my chances at Tuck/Yale (want to be in Boston long term) and would be seeking an Associate in an IB role. I think the value to me would be more marginal if it were a Cornell/Emory/UNC/UT/etc... and not as interested in Stern due to my desire to be in Boston. I fear Sloan might be out of reach and obviously know HBS is approaching 0%.
Only other interesting/unique note, is that I have also run a side internet business that generated $70-$80-$100k in the last 3 years.
I am confident I could achieve a 700+ gmat score, but was curious where you thought I needed to be and interested to hear your take on my likelihood of success.
Hey Natalie and Jen, Thanks for taking the time to review profiles. I would love to get your thoughts on my candidacy for top-15 schools with a focus on Stern, Wharton, Columbia, Duke. I would prefer to stay on the East Coast.
1) I am currently a real estate private equity associate at a publically traded mid-sized firm ($1-2bn AUM in real estate, $20 bn overall). I have 6 years of post-undergrad experience. I started my career in real estate Asset Management and gradually moved to an acquisitions track by switching to another firm and have been promoted to a senior associate. It took hard work and dedication to get my current role, especially starting with a non-transactional background. As we all know, finance can be a petty. Currently, I am a cradle to grave associate, leading the real estate acquisitions process on all asset types which include: underwriting deals, vetting potential partners, developing investment thesis on markets nationally, structuring jv partnerships, and asset managing a portfolio of $300M+. In my career, I have completed over $800M of acquisitions and dispositions and asset managed over $1BN of real estate. 2) 710 – unsure whether I will take again but I am open to suggestions 3) Mid-level school in the NE region – I want to be intentionally broad (UConn/NYU/Binghamton/Boston College/Northeastern). Graduated in 2009-2012 with a business degree. I have a 3.15 GPA due to having to pay my way through college. I consistently worked 30-40 hr weeks. My major gpa was higher at 3.3 and my last semester, I got a 3.5, while overloading on credits. I am extremely proud of my current success, and I have attributed it to extreme dedication of learning on the job. OCR and my academics did not help me and I believe I was able to overcome my mediocre grades with my job experience. I have taken 1 graduate level course and got an A. I plan to take another one the semester before I apply. 4) Director level at my fraternity in college and currently mentoring underprivileged youths in the inner city. I grew up underprivileged and hope to give back to those who have a similar background. 5) My last 2 years of college included a ton of extra credits so I could achieve the necessary credits to sit for the CPA exam. I took graduate level courses in accounting and actually did well while overloading (taking 5 classes instead of 4 every semester). I graduated with extra credits and passed the BEC portion of the CPA. I switched careers and there was no more value-add in the CPA.
6) I want to stay in real estate and build a portfolio of my own in the future. I want to focus on development in secondary and inner-city locations. I also want to pursue opportunities to work overseas in Asia. I think an MBA degree and network will help me achieve that.
7) My 6 years post-graduation was dedicated to bettering myself but I know my GPA is a severely limited factor. I think my ability to get a job post-grad is reflected in my success in switching to a private equity career and working hard every day whether it be GMAT studies, researching real estate market trends, staying late to underwrite deals, resume building, networking, etc.
Hi GSB or bust,
I think the key to your question would be in educating the admissions committee about the future of VR and your place in it. You need to be able to "predict the future" and think about why and how VR will change the way we live. Once you think about the future, move your story backwards chronologically and offer examples of how each component has led you to VR. Threading your work as stepping stones to your future will hold merit. Discussing your desire to be in the start up space generally will not be as compelling as offering a the committee a lesson in VR. I hope this help you think more strategically about the various components, but if you get stuck, this is where Accepted could help you, so feel free to contact us for advice. Natalie
Hi Goldmanboy,
Do you have a serious partner in your life now? The internal rationale doesn't work so well with these extremely family friendly schools where married students make up a good chunk of the population. In fact, if you had asked this question of my colleague, Jen, she would have told you that she attended Cornell with her husband. Waiting one more year could put you in the running and still give you plenty of time for marriage and family in your late 20's. I know its not what you want to hear, but I think waiting an additional year would be worth it for you. Good luck! Natalie
Gratisfaction,
A 10 point improvement won't make a huge difference to M7s. Other items (the holistic viewpoint as you noted) are really important to M7s.
You are not viewed as a "worse" version, but you are looked at differently. Feeder firm applicants have an issue with trying to differentiate themselves because the work looks so similar. You may have an advantage by demonstrating your impact on your firm. The disadvantage is that you may not have the connections (i.e. partners/mds who graduated from the programs you are considering and can put in a good words for you). Hope this helps, Natalie
Hi Natalie and Jen,
Curious where you think i could go.
GPA 3.2 from an avg (middle 60's ranked) State Undergrad University in Economics 17 years ago (now 40)
Worked at 4 investment banks on Government Bond Trading desks over 12 years (UBS, Morgan Stanley, Credit Suisse, etc..) (1st bank in IT as a programmer, 2nd bank as a desk analyst building excel models and doing some light programming - implementing other peoples ideas, then the other 2 banks as a bond trader - market maker and prop trader...the bank ultimately decided my product was too capital intensive and not profitable enough to continue with, so i was let go, and have not been able to find another similar position)
Spent the last 5 years unemployed doing independent research on a interest rates trading strategy...and realized that even if i execute it perfectly, i don't have enough capital to invest in the strategy to make this economical on my own (20-30% returns are great if you are trading 10mm+...but you can't live off that if you are trading 100k).
So, i'm looking to an MBA for a pivot. What are my options?
No Fund,
Things get complicated in your 40s and even more complicated with a lengthy unemployment record. Are you looking at full-time programs? That will be challenging. EMBA programs will also be challenging and they are not really structured for pivots, they are structured to enhance your role in a company. I welcome you to contact us (Jen or me) through accepted. I need to understand what you are thinking to tell you what is realistic for you. Natalie
Hi JP,
Ouch on the broken back and foot. Certainly not worth walking on for any sport. Are you a Sun Devil or a Wildcat (both have the party school rep)?
CFA will help with MF admissions, but you have chosen schools with huge differences in selectivity. Villanova and Warwick don't attach the same students as Columbia and LBS. Aim higher on your GMAT and keep getting As in your finance classes and the stretch schools are within your reach. You may have an easier time gaining admission for a school in the UK because they don't have many Americans applying to their programs, so you'll get points for uniqueness. And getting experience in London will set you up nicely when you want to return to the US. Good luck! Natalie
Hi Reddevil,
This is Natalie. Jen will be back later in the week. My own feeling is that I think you run face a disadvantage in pursuing an MFin when you apply for MBA programs later down the road. Many schools feel there is too much overlap in the curricula. As for the analyst positions, the MFin is great if a. you have no work experience and want to break into banking or sales & trading and you could not get that kind of position right out of undergrad. b. you love modeling and you want to be a quant. Hope this helps you as you sort through your decisions. Natalie
Hi Tony,
I'm the first one to say that I love athletes. Athletes understand leadership and teamwork, they have drive, determination and grit and they know how to size up the competition...all very important characteristics for business success. Having said that, MFin programs are more interested in your academic indicators that all these other traits. Thus, I would want to see your finance courses and the grades you received in your finance courses to give you an accurate assessment. A 3.1 with a criminal justice major/ finance minor is not the profile MFin programs seek. My feeling is that you will need to score in the mid-700s to be considered by the better MFin programs. Feel free to touch base with me via accepted by clicking on the contact me link. Natalie
Hi BigGun,
I think you have contacted me through Accepted. Your background is quite complex. Please reply to the email I sent you this evening and we can set up a time to chat later in the week. I look forward to speaking with you. Natalie
Natalie, thanks for taking out time. The thread is insightful. I am an international student and want to apply for MSF 2018. I would like to get into IB (preferably M&A) or on the business side of tech firms. Here is my profile:
I am targeting MIT, Vanderbilt & Simon, Rochester. My plan is to stay in the same job for another 4-5 months and have an IB/ PE internship for 4-5 months before I begin the course. What do you think of my chances?
Also, do you think I should wait and apply for a MBA down the lane? Would a CFA degree help me?
Hi FinDroid,
I think you plan is good and I think all your schools are within reach. If you decide to pursue an MBA later on down the road and MFin may be disadvantageous, but the CFA will be advantageous. Good luck! Natalie
Hi televisual,
That's quite a list of schools! I am glad that you did so well on the GMAT, because the GPA is quite an issue. You will definitely need to address it in an optional essay, even if it's just to say you slacked off and regret it. On the surface I don't see anything in your profile that jumps out in terms of differentiation from the rest of those applying with a similar background, so you really need to focus on that aspect with your application to get noticed. Here are some resources from our website related to the schools you are considering that you might find helpful:
Harvard http://reports.accepted.com/mba/harvard-business-school Stanford http://reports.accepted.com/mba/stanford_graduate_school_of_business_we… Wharton http://reports.accepted.com/mba/wharton Chicago Booth http://reports.accepted.com/mba/chicago_booth_mba Columbia Business School http://reports.accepted.com/mba/columbia_business_school
And here is a podcast on addressing low GPA:
5 A’s for Your Low GPA: http://media.blubrry.com/admissions_straight_talk/www.accepted.com/hubf…
1) 1 year right after college at a F50 company in FP&A. After masters degree, 2.5 years at a relatively small consulting firm focused on data analytics specialized in one industry. I have been promoted once and would likely be promoted once or twice more by the I'd apply to programs. I have significant international experience at my current job. 2) 730 (49Q, 41V). I will have to retake this by the time I want to apply. I could probably do better. 3) Undergrad at a state school along the lines of Rutgers/Pitt/UConn/UMD/etc, Major was applied math, GPA was 3.4. Masters degree from UVA in commerce with a concentration in financial services (essentially a broader version of an MSF program), GPA was 3.7. 4) Was a member of a fraternity for 4 years and served in a few leadership positions. Nothing post-college. 5) None 6) I think I would work in banking for a bit after the MBA. Long term I think I'd like to work in corporate development.
I'd be looking to apply in 2018 or 2019 (I'd be 28/29). M7 is probably out of reach for me so I'd be targeting schools such as Darden, Yale, Stern, possibly Tuck and Columbia as reaches. Main concerns are lack of post-college extracurriculars and lack of any differentiating factor (I'm just an average middle class Jewish dude). An alternative would be to just forgo the MBA altogether if I'm not competitive to get what I want. My motivation for getting an MBA after the masters is I feel like the masters degree gave me some baseline knowledge of finance and I ended up with an okay job afterwards but I still feel that I'm missing something I need to get to my ultimate career goal. My current job doesn't involve finance and is very specific in analytics for one particular industry. I'd like to broaden what I know and what I can do beyond where I am now.
Dear thatswhatsup2,
You look like a very interesting candidate. You have strong work experience and involvement in the community. The academics look pretty good as well. If you could bump that GMAT score up a little bit (700+) that would make your candidacy that much stronger, but as it stands I'd say you have a decent shot at your target schools. In terms of your dream schools, these resources might be of interest to you:
Harvard http://reports.accepted.com/mba/harvard-business-school Stanford http://reports.accepted.com/mba/stanford_graduate_school_of_business_we…
You're welcome!
There is no doubt that EMBA programs are easier to get into than FT MBA programs and that they will weigh your experience more than your undergrad GPA, especially given that stellar GMAT. Even the elite FT programs will take a good look at your app given that GMAT. BUT, they will need to know what's changed in terms of your academic ability. Clearly you have the talent, but do you now know how to study... to apply yourself in a demanding academic curriculum.
Did you blow off undergrad? Was there trend, hopefully upward while you were in college? Have you had to study for anything in a sustained way since college?
Hi Blablablabla,
Applying to US schools is worth the try only if you want to attend school and possibly work in the US. I suggest you contact Eastern European students at the schools that interest you (you can typically get in touch with them through the schools' clubs pages). I think your lack of leadership/extracurriculars and community service may be an issue, so will the limited work experience. You many want to cast your net a little further if you plan to pursue an MBA this year. Happy Holidays, Natalie
HI Mr. Iorn,
Why do you need a one year Master prior to an MBA? I think the Fall 2020 without a additional master degree makes more sense. Your 6 months as a research assistant as an exchange student will not count toward your experience. MBB consultants are abundant at H/S/W. What are you doing to differentiate yourself. Sponsorship will help, but its not a guarantee. You should listen to Linda's podcast on getting into HBS https://reports.accepted.com/mba/harvard-business-school?utm_campaign=B…. Good luck and contact us directly if you need help with your apps. Happy Holidays, Natalie
Hi Mountainguy, When you say "top MBA" do you mean M7 or top 25? Your grades may be an issue with M7 particularly given your business undergrad. You will also be competing with candidates in FO roles, so transitioning may make sense. Maybe take on a leadership position in community service. While reading scholarships is noble, it doesn't demonstrate leadership. Feel free to contact me through Accepted. Happy Holidays!
Hi IDon't_Even_Go_Here
I think the triple major, more specifically the Philosophy part of it, helps to distinguish you from the many business majors and quant jocks who do not have a humanities or social science interest or expertise. They will expect you to have certain communications skills and qualitative analytical skills that others won't necessarily have or certainly won't be educated to have.
Your personal preference may have professional and admissions advantages.
Happy Holidays!
zyxvzyxv,
I think it makes sense for you to apply to HSW and also to apply to CBS and Booth and MIT given your goals.
In terms of ways to spice up your profile, that's not something I can really address in a post because everything is general here. That's the kind of thing https://www.accepted.com/mba/services</a">we work on with our MBA clients one-on-one. .
But I can tell you that it's the specifics that spice up a profile. What challenges did you overcome? How did you overcome them. What difference did you make? How did you change as a result of the experience? It's those stories that frequently differentiate a successful from a non-successful but competitive applicant. .
Prince Fresh,
Thanks for your post. To answer your questions:
First of all, what will really determine your competitiveness is what you accomplish in your position, not the difference between these two types of positions. That being said, and all other things being equal, I would give an edge to the PE analyst position. Regarding the second part of your question. I assume you are applying to the deferred admission programs and want to know what to write for your anticipated job. My answer is the same.
My understanding is that there's nothing as good for getting a job in PE as being in PE. And PE MBA grads make the most money in general. This profile would match the programs with high placement rates in PE and the curriculum that matches that placement rate -- like HBS, Stanford, Wharton, Columbia, Chicago, and Kellogg. MIT and Haas are up there too, but I don't think they have quite the same placement. as the other programs I mentioned.
You might find helpful: https://reports.accepted.com/mba-4-year-guide</a">Prep for B-School
Happy New Year!
Dear jamkub,
In terms of getting the degree right out of undergrad or after, it really is a question of what you feel you need the degree for. If you have defined what you want to do and the career is not attainable without an MF, then by all means, go right into the best program you can get into. If you are not sure what you want, but feel that getting a degree is just "what you should do," then that is not the best reason to go. Obviously you will be investing time and money to get this degree, and at the end of it you want to have the most positive outcome. If working for a few years to figure out what you really want will help you decide, then take that time to work in the field you have some interest to ensure that making the investment is worth it. Does that make sense?
Hello Team, many thanks for doing this! I would greatly appreciate an evaluation.
Goal schools/programs: Kellogg, Duke, Darden, McCombs, Vanderbilt. Please let me know if there are any others that are more suited to my experience, scores, and goals.
1) Brief description of your full-time work experience.
By the time I will matriculate, I will have ~6 years of finance/risk/analytics experience. - 1.5 years in FP&A at a small private company in the hospitality industry focused on financial forecasting and competitive analysis - 2.5 years in a credit risk role within consumer lending (credit card portfolios) at a moderately sized private bank where I started managing acquisition strategies for one business segment. My responsibility grew to the point that I was in charge of all acquisition related financial and loss forecasting, while overseeing (in responsibility only) a team of 4 analysts who were responsible for the individual business segments. I was also responsible for designing our entry strategy into new credit segments from a risk-based perspective (pricing, acceptable losses, and segmentation). - 1 year in a credit risk role at a F100 developing portfolio management strategies for their credit card, mortgage, and auto portfolios.
2) Your GMAT or GRE. Percentiles preferred.
650 GMAT - heavily considering a retake.
3) College info: The name of the college, your GPA or grade average, your major, year of graduation. For any graduate degrees, please provide the same info. If you grades are low, please indicate if there were extenuating circumstances.
Undergrad: Tier I regional state school in the Western US (non-California). Cumulative GPA: 3.45. Major: Business Management. Graduated: 2013.
4) Significant college and post-college extra-curricular activities or community service, especially leadership experience.
Undergrad: Fraternity president and other internal leadership roles, club soccer, Business Plan Competition participant (responsible for market analysis and strategy).
Post college: Financial literacy volunteer experience for individuals aged 13+ and semi-routine volunteer work at local food banks.
5) Important certifications like CFA, CPA, FSA, or CA.
N/A, though I have considered CFA and FRM
6) Your post-MBA goal.
Strategy consulting or corporate strategy
If you think you can raise your GMAT, I strongly encourage you to prepare again and retake. Yes your experience is solid, but not extraordinary at the schools you are aiming for. Unless you have some major diversity angle that you didn't want to write about, I'm not optimistic about your chances at any of the programs you list. Get 30-50 points more, and Duke, Darden, Vandie, and McCombs become more realistic options. Kellogg would still be a stretch.
FYI I https://blog.accepted.com/admissions-tips-for-vanderbilt-owens-mba-prog…</a">recently interviewed Christie St. John, Vanderbilt's Dean of Admissions, for our podcast. Check it out.
Dear Resipsa1,
I am guessing that the reason for the dings is that if you want to stay in the same area, schools are thinking that a fulltime MBA doesn't make sense for you, especially considering your age at this point. If you decide to continue trying the fulltime path, you really need to convince the admissions committee that you need to go that route to transition in your career.
We do offer rejection review services, if you are interested. I could review one of your applications to give you a more detailed analysis. Please contact me offline if you'd like to discuss.
Before I reply, I have a few questions:
Linda
Hi the Love Doctor,
To answer your questions:
You might be interested in https://reports.accepted.com/columbia_bschool_webinar</a">Get Accepted to Columbia, a webinar I gave a few months ago.
Best, Linda
If you raise your GMAT, you'd be competitive at your target programs, and maybe even if you don't. Also consider CBS, Darden, and Ross.
Given your start-up goals I don't see your age as being an issue. If you think the dual degree program will help you achieve your goals, then I don't see a problem with it.
Do you have two years of FT experience now so it would be 3 years at matriculation?
3/19/18 - 11:10pm
Hi Quixoticelixer,
Some schools require all transcripts and others require just the school of record (the school that gave you your degree). Study abroad grades will not be a big factor even for the schools that ask for all transcripts. However, that doesn't mean you can coast through your SA curriculum. If you want to contact me by clicking on the "contact me" tab below to let me know the schools you are considering, I can tell you the schools that currently require transcripts from all schools (rather than school of record). Good luck! Natalie