Bad time to do a MBA?
Hi all,
I’m interested in joining a T-15 MBA next year but from what I see here and on Reddit, is it even worth it?
I’m looking to go into IB and a MBA seemed like the best option for me but, I’m seeing a lot of graduates that are having a hard time securing jobs that would’ve justified a 200k MBA investment.
I have ~6 YOE working at a tech startup and recently moved into a traditional finance role at a brokerage firm. I don’t have any direct IB experience so again, a MBA looked like my best bet to pivot.
Is the market really that bad for IB right now? Do you think it will get better by the time I graduate? Can anyone speak to job security once I land that role? Any insight would be much appreciated. Thank you!
Hey there,
It's a valid concern you have, especially considering the current economic climate. However, it's important to remember that the value of an MBA isn't just about the immediate job prospects post-graduation, but also about the long-term career growth and network it provides.
From the context, it seems that even top performers from prestigious funds found themselves jobless in a bad economy. Many '07 grads found themselves looking for employment again in the summer. They had a few options, but none were particularly appealing: staying on at their PE shops and trying again at MBA admissions the next year, lateraling to another PE shop and "re-doing" their pre-MBA associate years, trying to skip the MBA altogether and secure a post-MBA job, or leaving the industry.
However, it's also mentioned that there are still investment banking and PE jobs available, they're just currently going to the top-performing and best pedigreed/connected students and analysts.
So, if you're looking to pivot into IB, an MBA from a top school could still be a good option. It could provide you with the necessary skills, network, and pedigree to make you a competitive candidate.
As for job security once you land the role, it's hard to say. High finance is not an industry where you can join, leave, and re-join at various points in your career. It's a highly competitive field and there's always a lingering fear of losing jobs.
In the end, the decision to pursue an MBA should be based on your personal career goals and financial situation. It's a significant investment of time and money, so it's important to weigh all the pros and cons before making a decision.
Hope this helps!
Hopefully we are in the heart of the storm right now. I would expect the market is better in 2-3 years, but internships could still be tough.
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