Recently came across WSO during some career research and quickly realized this is a good spot to potentially get some advice. Sorry to everyone who is tired of these types of posts but in my research I couldn't get all the answers.
Some background, I'm 23 years old and graduated this past December from a below average public college in New York with a BS in Business Management, 3.2 GPA (finance major at my original university before transferring). I coasted through school and realize I have dug myself a massive hole to get out of. I have always been extremely curious when it comes to investing and am solid in math and have decided I want to pursue a Financial/Quantitative analyst role. Im fully aware how competitive and cut throat this field is and that I am no where near being qualified for this type of role but am determined to invest in myself and pursue this goal.
The way I see it is that I need to improve my knowledge base and resume substantially to become a candidate. I think there are three main ways to do this. First being certifications and self learning certain tools and skillsets. Second is furthering my education through an MBA/MS program. Third and most importantly is gaining pertinent professional experience.
First and foremost gaining the necessary knowledge. I've registered and began studying for CFA level 1. Ive also began learning Python for data analysis and financial modeling and plan on learning financial modeling for excel as well.
Secondly, I haven't taken the GMAT yet and am running out of time to apply for Fall 2020 admissions but do think I could register and study for 3 to 4 weeks and get an admissible score by some deadlines. Are the later rounds of admissions tougher to get accepted? My gut says, focus on early rounds for the Fall 2021 admissions. Baruch seems like the ideal destination as I don't think I'd get into NYU. I know it isn't nearly as easy to break into from Baruch but through networking with alumni and the CFA society it may be possible.
Lastly, professional experience. I have interviewed with a small financial compliance company and realize that this is probably the best I can currently do. I'm under qualified for most finance related roles. I massively underestimated the importance of internships. This plays into the paragraph above because I much rather get into Fall 2020 grad school rather than do a job that isn't relevant to my potential career path for a year and a half. I haven't been able to find much information on grad school internships and see that as the best case scenario for me to get experience.
So do I push for Fall 2020 or work a job I plan to leave after a year for Fall 2021. Is a Finance concentrated MBA better than an MS in Finance. I'm open to any suggestions on things I can do to increase my value as a future candidate and anything that may be more efficient than what I am currently doing or plan to do.
Thanks.
Regarding the MBA, you will need 3-5 years of work experience, so as a 23 y/o recent grad, you will not be able to apply. More concerning is your 3.2 GPA from a super non-target, which it seems like you recognize. Even if you had the work experience, that will seriously hamper your shots at getting into any moderately decent MBA program. Since MBA's extreme cost are offset by the job opportunity post-MBA, it is not worth to get a no-name MBA since it will not help you very much at securing a job worth the money and opportunity cost.
You seem to have a good idea of what you need to do. I would recommend focusing on the GMAT and get a 700+ score. Then apply for an MSF (or other similar masters program) to rebrand yourself and get good grades to demonstrate to your future employer/MBA admissions committee that you are capable of academic rigor. Use the on campus recruiting and networking opportunities to break into the field. you can apply for MBA 3-4 years later, ideally before the Sept Round 1 deadline so your GMAT score is still valid (its good for 5 years). Ideally, you'd want to time it so that you receive your MBA admit decision right before the score expires.
I would recommend apply for MSF/MSM/MS Fall 2021 because March 1 is Round 4 deadline, which you will miss due to GMAT, and most spots will long be filled by April 1 Round 5 deadline. Getting that 700+ GMAT is more valuable in your situation than applying to Round 5 at no name master's.
Good luck.
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