I'll be sending out MBA applications next fall, and my current plan is to apply to all top 10 schools + UT (I'm a Texas resident). My current goal is to work at a long/short shop and possibly move to a hedge fund some time down the line. Do I have a decent enough shot at HSW, or would I be wasting an application there?
Undergrad: Non-target, nothing special
GPA: 3.3 (3.6 major GPA; I have ~75 hours of biology classes because I switched to Finance my junior year)
GMAT: 780
Other: CFA Charterholder
WE:
- 2 years as a fixed income analyst at a financial data firm (along the lines of Bloomberg, IDC, IHS Markit)
- 2 years (as of matriculation, 1 as of applying) as an investment analyst at a wealth management firm with ~$400mm AUM. Main responsibilities are researching companies, analyzing client accounts and strategies, some portfolio management.It's a young-ish company, and when I started out a lot of my work involved re-doing the whole back-end system, client management, and leading a project to create a new website. Basically getting the stones in place to set up rapid expansion in the future.
Extracurriculars:
- Leadership position in Habitat Young Professionals, organizing philanthropic events
- Volunteer as a mentor to underprivileged high school kids (1 per year) and encourage/help them get into college
- May be involved in a startup non-profit, but nothing is set in stone yet.
I know my GPA is on the low end and work experience isn't anything spectacular. I'm hoping the CFA helps offset that a bit, but from what I've read it's not very likely to do so. Would blanketing the top 10 be my best bet? Do I realistically have a shot at M7? Thanks!
You're probably just below the 27-75th gpa percentile range for MBA business schools ">M7 schools but just above for GMAT. From a pure stats perspective, you aren't out of the running by any means.
That's what I was hoping to hear. Anything else I can do for the next year or so to improve my application?
I'm not an MBA guy at all just know the stats. You can easily look them up. From my understanding the next best thing you can do is to make sure you craft a compelling story about yourself that will catch the eye of admissions
Wow, you have an interesting profile. 780 will definitely give you a shot at Wharton. And Texas - God bless! - is definitely underrepresented at these coastal educational institutions, so we could definitely use more (although I don't think it is a consideration for adcoms). I think a school like Columbia would snap you up, and you'd have a good shot at Booth. A school that is just below there in rankings but that loves high stats will probably offer you a scholarship if you put together a strong app (such as NYU, Yale, etc.), but you'd have to think carefully about which school best supports your career goals in that instance.
This basically nails my thoughts on your profile. I don't know about Wharton, I think for them your GPA and GMAT combined will be about average and your work experience wont be up to the mark so it will be close.
If you are a woman or URM you prob have a decent shot at HSW. If not you should be able to get into at least one MBA business schools ">M7 if you blanket apply.
If I were able to get a job at a more well known firm (in PWM, if nothing else), would a year or so of experience help with that? I'm not sure how 3 jobs in 4 years would look to schools/post-MBA employers.
CBS likes high GMATs , I'd apply ED there. H/S are extremely unlikely given low gpa at non-target and non elite WE
Would applying ED at CBS disqualify me for scholarship consideration?
You'd have to ask CBS but I don't think so
You have a shot. Tip: don't talk about wanting to get a hedge fund job. Adcoms know the odds are low. Say you want to do health care consulting.
Huh? I don't disagree that the odds are low for hedge funds but - why does that mean he should indicate health care consulting? Am I missing something in the original post?
Schools are looking at a few things related to your post MBA goals: 1. Are they reasonably achievable based on your background coming out of the program? 2. Will the degree help you make the step (i.e. why MBA)? 3. Can you articulate why you want to make that transition?
If you have no desire to do healthcare consulting, I wouldn't BS that, your story will come across weaker.
There are something like 200 people in the investment management club at Booth across all the different categories. I think your background and profile would tell a perfectly fine story as to why you're transitioning to Asset Management and why the degree will help you make that transition. If you say that you're only interested in l/s hedge funds in the Texas area, yeah, the school will think your weak in area 1, because now there's a good chance that you won't find a job. But asset management is a totally normal and perfectly acceptable target industry when recruiting for b school however, and your experience/credentials make that an easy story to sell. I think you'll be a stronger candidate selling a story that makes sense for you and that your background shows progress towards rather than just throwing down a hot industry that hundreds of other applicants are also going to be indicating.
One thing that hasn't been brought up - PWM is sort of a 'semi-target' for MBA business schools ">M7. You see a handful of folks from top 10 firms each year at each school; I don't, however, know of many people that come from small funds (and $400mm is probably well under the radar for b school admissions). If your job before was at a big brand name that might help. This might be a question for a professional admissions consultant but, you could also explore the option of transferring to a major wealth management shop before you apply. Of course, if you think this will blow your references, that's valid too.
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