Currently in Big 4 public accounting - Transaction Service (second year senior). Don't really have passion for accounting and would like to explore more finance or consulting side of the world. Does it worth to go to B-school for the purpose of changing career? I'm located in Chicago so thinking about applying for Booth and Kellogg. I have seen some threads on WSO that says it will be difficult to land a buy side job post MBA if you dont have buy side experience prior to MBA. Is that true? Since my background is in accounting, what's my optimal career choice post MBA? Do not want to do accounting anymore lol...
Given it's a pretty significant investment (200K plus no income for two years), want to make sure I make the right decision. Appreciate everyone's advice!!
Ima 321,
You're asking good questions.
I'm not going to opine on your buy side question. However I do want to point out that while the cost of attending is slightly over $100K that includes about $25K for things like room and board and health insurance and 'Personal' and "Transportation" most of which you have to pay for whether you earn an MBA or not.
Furthermore, a significant percentage of applicants get financial aid in the form of merit scholarships. At Kellogg that figure is 36%. I couldn't find the number for Booth. Unfortunately the only way to find out if you can get merit aid is to apply.
Finally realize that while you may not get that buy-side position immediately after you MBA, you might get it at your second job after the MBA and that the average salary for 2018 grads in financial services is $136K with a $39K signing bonus (Kellogg) and for Booth the median salary for 2018 grads in financial services (I don't see the average) is $125K with a median sign-on bonus of $40K.
I don't know what you're making now, but you can do the math and determine if it looks like a worthwhile investment. Do talk to people about how to make your buy-side dreams a reality, but given your background and lack of passion for what you do, an MBA may be a good way to do something you want to do.
Best, Linda
Thank you! Appreciate your response!
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