I'm a 27 yo working in corp dev. Should I at least apply to top 3 MBAs?
I finished my undergrad in a top 10 university, worked in investment banking for 2 years out of school and have been working in corporate development at a global bank (think CS, JPM, WFC, etc) for 2 years. While I’m satisfied in my current role, I’d like to eventually transition to management roles within the same industry.
Pros (if I am successful in being accepted into HBS/GSB/Wharton): Connections and perceived prestige / brand value (which surprisingly seems to be an important factor in when BoD considers C-suite contenders) Provides a flexible transitional point to change my career (currently M&A focused and reporting to CFO) into management-focused roles (strategy / COO) For a lack of better words, FOMO - at age 27, I am possibly looking at 1–2 more years until MBAs won’t make much sense to me anymore
Cons: Going through application process will be a big drain on my ability to commit to my current role and my manager may frown on it (If I am accepted and do matriculate) obvious financial and opportunity costs, especially in the early years in my career
Any thoughts would be appreciated. Thanks!
Why? I think you're overthinking it. There are several schools which are far less "prestigious" than H/W/S but have similar numbers of C-suite members among their alumni(with smaller class sizes too).
What opportunities do you think it will open that you don't have now? I'm simply not seeing any. As far as executive advancement a lot of companies will send you to an EMBA program when and if you actually need it.
Look at the individuals in the role that you want. Do they have an MBA?
Depending on GPA/GMAT, it sounds like you have a strong background for HSW, but given the costs of an MBA, it is really worth your time applying to Booth, Columbia, and maybe one more. Could consider LBS or Tuck - great alumni base - or possibly a second tier school like Duke, Michigan, UVA, Yale, etc if you are interested in possible full rides. Yea, no doubt that HSW will give you a great net work, prestige, and marketability with boards. The others may give you the opportunity to take some financial aid to reduce the cost.
An MBA may not open up many new opportunities for you, but consider that it will be 2 years to take a step back and explore various things. It will give you time to travel, expand your net work, build prestige, take an internship in something you're interested in, and really just give you some time to do all of the things you haven't had time to do over the past 5 years.
The application process is not great,but it;s only June right now so you have plenty of time. It will definitely take away from work, but that's just a reality you'll have to get comfortable with. I went through the same thing, but once you get in, it's all worth it.
Just start taking your GMATs and kill it, then start on the essays. I'd get them reviewed by a consultant as well (veritas and stacy blackman are good). It's definitely not necessary, but spending 1k or so on essay reviews is small compared to the opportunity in front of you. (note that 1k is for hourly services, the all in packages are much more).
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