Hey all,
I need some advice with regards to Business School. I am from the UK and am starting as a 1st year analyst in London this coming July.
Just so it is very clear - in London the IB process is different from NY, business school is 100% not a requirement for promotion- in fact most firms actually encourage the analyst to complete their 3rd year and proceed onto the Associate position. This being the case, business school is not necessary for me - but I wonder would it act as a catalyst for faster promotions in the future....and would a lack of an MBA make it less likely to reach the higher / more senior banker roles?
I am fairly confident that I can get into HBS for the class of 2012 - and wonder is it worth the $$$$ and the time taken out of employment?
Your thoughts will be appreciated.
What exactly makes you confident that you can get into HBS after 2 years as analyst?
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What exactly makes you confident that you can get into HBS after 2 years as analyst?[/quote]
Is it really that unbelievable?
I already have 1 year of IB experience and 2 summer internships, all at BB under my belt. I have also owned and sold my own company by the age of 20. In addition to the above I have received numerous academic excellence awards, with an impeccable GPA, not to mention playing sport for my country.
And I forgot - I WAS ACCEPTED FOR THE 2008 INTAKE STRAIGHT OUT OF UNDERGRAD- but I decided that a 2 year analyst stint would prepare and expose me to the industry before jumping ahead of myself.
So considering that the entrance to such a program is not an issue - what are your thoughts?
What exactly makes you confident that you can get into HBS after 2 years as analyst?[/quote]
Is it really that unbelievable?
I already have 1 year of IB experience and 2 summer internships, all at BB under my belt. I have also owned and sold my own company by the age of 20. In addition to the above I have received numerous academic excellence awards, with an impeccable GPA, not to mention playing sport for my country.
And I forgot - I WAS ACCEPTED FOR THE 2008 INTAKE STRAIGHT OUT OF UNDERGRAD- but I decided that a 2 year analyst stint would prepare and expose me to the industry before jumping ahead of myself.
So considering that the entrance to such a program is not an issue - what are your thoughts?[/quote]
So you were already accepted to HBS and are deferring for 2 years? So why did you say you were confident of being accepted in the future? Shouldn't you already be in the class of 2012 if you got accepted for 2010 and they let you defer for 2 years?
I thought every undergrad who got in had the option of deferring for 2 years. In fact, I think they encourage it.
All that sounds great. I am sure you're a strong candidate, but I don't think anyone gets in with 100% certainty.
But yeah, if you're the superstar you say you are, you shouldn't be wasting time in B-school or IB for that matter. In fact, I think owning and selling companies will be a much better experience for you. You can even play the sport for your country on the side!
I'd be interested to hear about how accelerated 1-year MBAs at e.g. INSEAD are viewed versus 2 years at Wharton/Harvard etc.
plus1: if you're going to stay in finance short term (i.e. not just IB, but including research, sales/trading, private equity, hedge funds, etc.) then you're not going to miss a whole lot by not doing an MBA, particularly if you're staying in Europe. However, if you are looking to get out of finance, then an MBA can be valuable. Practically speaking, you haven't even started working yet so an MBA or not shouldn't be your concern - you'll have a much better idea of whether banking or finance in general is a career path you want to take after doing 1 year as an analyst. As for whether you think you can get into HBS, don't be so confident...
joefish: it really depends on what you plan on doing with it. INSEAD's reputation in Europe is as good as any of the top schools, including HBS and Wharton - helped by the fact that there's tons of INSEAD alums based in Europe. In the US though it's still under the radar: folks in industries with tons of MBAs like mgmt consulting or IB may know about it, but beyond that it's just not as well known. So it's less about the 1Y vs. 2Y and more about the awareness (or lack thereof) with INSEAD.
Alex Chu
If all of the above is true, why not skip it and do something better with your time?
Joe the 2008 intake is also known as the class of 2010 - because that is the year the 2008 intake would graduate. Easy mistake - it is just the way they call the classes in the US.
I can and have deferred my 2008 offer till 2010. The point of this post was to see if Business School really is relevant?
In that case, congratulations.
I think you're in a good position to simply find out for yourself. I mean, you've already been admitted so there's no "cost of applying" or even thinking about it. In two years, if you think you need it -- didn't get that promotion, feel like you're hitting a wall in terms of responsibility, want to move to another industry -- you have a ready-made option.
You're in such a position that you don't even need to think about whether it's useful 2 years out. You can make the decision on the spot in 2 years.
oops, my bad
Cheers for the advice - I really appreciate it. I realize that I am in a very fortunate position, but it only came with a lot of hard work!
To be honest it is not a big issue for me at the moment, I have just heard a lot rumors and chat on forums that to be a CEO etc or a top banker an MBA....is all necessary!
I have heard that the HBS is extremely rigorous, almost as bad as an analyst stint! Can anyone here clarify that?
Some Large Cap PEs may require an MBA, but I think that's more of an American thing. Not sure about how stuff works in London. Anyone care to shed light on this?
HBS, like all other business schools, is a joke. It's a two-year vacation.
This is way out in the future for me, but assuming I made it into a top-5 MBA program, would it be irrational for me to pass up on any of them to attend Tuck so I can go skiing all throughout the 2 year vacation? I am completely serious by the way.
Isn't Tuck a top 5 program?
I think they're all very similar in terms of opps, except for H/S which are a cut above and to some extent, Wharton.
I basically meant Harvard...
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