Mid-level (10 yrs exp) getting a MBA?
Hi all, wanted to get some advice here. I left my VP role at an investment shop last year… won’t get into details but apart from strategy and management, I was a little burnt out with health issues so took a career break.
Have been looking around recently and interviewing with some shops although they don’t seem to be really hiring and market has been terribly slow as you all know.
For profile, I have a non-target UG, went into MM banking before transitioning to the buyside. A little unconventional profile since I didn’t do the 2+2 but stayed in each path a little longer. Have close to 10 years of work experience now and thinking about going to business school while waiting for the market to turn.
I’ve personally wanted to do a top MBA program given my no-name UG for awhile but needed the $$ for family before. Now I’m hitting mid-30s and I feel like I’d be quite old compared to the mid-20s crowd with 2+2 IB and PE experience so feel like I might be at a disadvantage plus the notion of starting from close to the bottom rung level again once I’ve completed my post-MBA seem a little discouraging.
I’ve considered EMBA but it seems like EMBA is for the currently employed, generally part-time, and consensus seems to think it’s not as great as a full time MBA program. Main reasons why I want to do an MBA are because of the top tier brand name education (if I get in) and expansion of my personal network, all while waiting for the market to recover. I still want to stay in the buyside post MBA (maybe try HF for a work term or at MM/MF shop).
Do you think trying to pursue a MBA is advisable in my situation? I’d ideally be applying this Fall in the hopes of getting in the 2024 class.
Am a little lost so appreciate all for the advice.
Given you’re already at the VP level, I don’t think getting an MBA is the right move for you. Firstly, you would be uprooting your family and moving to wherever you get in. Secondly, it may almost look a little strange to future employers for a 35 year old to be pursuing an MBA when they’ve already experienced success in the industry that they want to stay in post-MBA.
My 2 cents: don’t pursue an MBA but instead use the money to either pursue an entrepreneurial venture or go on a short vacation to clear your mind. In the mean time, continue grinding on networking and interviewing as something will break your way. Good luck.
MBA is a vacation with some learning and networking opps. If you don't treat it as such, you will come out disappointed.
I didn't enjoy my ivy league undergrad exp, but had a great top MBA one and made a lot of good friends/professional contacts.
I was working on my entrepreneurial venture while doing my MBA. Saw my MBA as my "downtime" as I was meeting new people, going out for events, etc.
I wouldn't be concerned about your age if you decide to do so, especially as a guy. Plenty of people in their mid 30s (I think the average age is 29).
Might find a wife too if you're not married. I do have to say, I think my top MBA helped on the fundraising aspect.
Really comes down to what you want out of the MBA. I feel like I beat the MBA drum on here more often than not, but I really think it's a case by case type of situation. For more experienced folks, my general rule of thumb is, If you:
Then yes, it makes sense to consider. As a Mid 30s VP, if you are looking to switch out of banking, then yes, it might make sense. You're not too old depending on your temperament and stage of your life. Are you single and do you like being social? Yes, you'll get poked fun at a tiny bit for being the old man, but age is relative. I've been mid 20s folks who are super boring and unsocial and folks into their 30s that (in the best sense) feel young at heart. With that said, if you have a family and kids, you need to understand that your experience will be different, which is fine, but again, you just need to do your research and understand what you're getting into.
As far as career goes, if you like banking and are happy with where you are, I can tell you that it's unlikely you're going to get a big boost from an MBA if you're going back into banking. Most people start back as Associates. Now, you'd probably be able to uplevel firms and maybe progress faster, but it wouldn't make sense to me if you're just going to roll back into the same career path. Now if you want to switch and do Asset Management or something like that, then yes, you might start off on a slightly lower rung, but you're leveraging the MBA to explore something you would have a tough time doing now.
All-in-all is generally a pretty big luxury to go, if you have the means and the time if your life to do it, you might as well try. I have an amazing experience and wouldn't trade it for anything. That said, I've seen plenty of folks not seen the ROI as they've gone and either made poor use of their time, or didn't have a great reason for going besides it being the next step on their path.
Edit: Apologies I misread you being a VP on the buyside and not in banking. Same advice applies though, unlikely you'll level up out of B-School given the non-trad background. If you're going to re-recruit for the same jobs you're looking at now in two years time, then you're likely going to be dissapointed. If you fundamentally want to try something new and need the space to explore for a bit, then an MBA makes more sense.
It’s not the worst idea in the world, but definitely sub-optimal consider you won’t start until next year. If you are going to do it, consider doing it at Kellogg or Columbia, do a 1-year program, and position it as “this is something I always really wanted to do, so while I did it late, the window was closing and I didn’t want to regret it.”
If it were me, I’d stick to trying to recruit for a new full-time role rather than focusing my energy on preparing for applications and sitting for the GMAT.
Thanks everyone for the helpful feedback here – OP here. I agree that it might seem a bit odd to head back to a MBA when I’m hitting this age and with 10+ years of experience, but frankly, have been networking and going through few processes for quite some time but no results have shown to date. Been really frustrating and disappointing on all fronts given firms and funds have significantly slowed or paused hiring, or pushing things out in the future. I’ve seen similar threads on here that others have or are experiencing the same thing as well.
I guess I can just keep trying – but I’m worried if in 8-12 months time, the market and economy remain stagnant and there’s minimal change on the hiring front, I would have been out of the market for a good 1-2ish years which I feel like it’s going to be harder and harder to get in.
At least if I apply to some schools and get in, I have the option of pursuing that and wait it out before getting back in the workforce. Yes, I know I’ll be more behind financially given the tuition and the opportunity cost of forgoing a potential opportunity, but really hard to just keep my fingers crossed and ‘hope’ the right opportunity will come along when nothing’s in sight.
Definite down side and you have it right @Compbanker, I don’t know if I have the energy to prepare for applications, study and sit for the GMAT for the fall in a couple months time. Whenever I think of it, it just pains me and I just put it on the backburner.
Then I spend my time doing some networking (potential job related) to push off the thoughts of GMAT/MBA school, but then don’t see the tangible results of getting close to an opportunity… ugh, it’s a never ending cycle and grind with no light at the end of the tunnel.
Not to be a downer, but most top MBAs have a soft cap on age to avoid skewing the cohorts and experience. I believe the oldest starter in my H/S/W business school class was ~32, maybe 33. If you're much older, you get funneled into EMBA (which I'll be biased in agreeing is less prestigious / diluted experience / more academically focused).
I'd encourage you to research my point a bit, but if true, I especially don't think it's worth your time if you're not going to go to a top program.
The b schools tends to focus on WE, rather than age, though - so if you were a 34 yo with 4-5 years YOE (due to some life circumstances or military), it’s a different from being a 34 yo with 12 YOE after undergrad
I think MBA is a good idea, in the short term, gives you a break and useful networks and toolkits, and in the long term definitely a brand name whose coat-tails you can ride upon to partnership. Hopefully market recovers by the time you finish.
Just a thought, why don't you think about 1Y MBAs. You have Kellogg, Cornell offering in US and INSEAD (they have Jan intake as the core, so you can apply now) in Europe (if you are adventurous). To some extent your age prb gets solved cause 1Y age band tends to be wide.
I can point to at-least a couple of senior partners in TPG and TB who did Kellogg 1Y, so although non traditional it's a viable strategy.
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