I've been checking profiles of bankers as well as of senior associates and directors of major PEs in London, and I have noticed that just a few have MBAs. Most have Master degrees done directly after undergrad. (Brits usually have just an undergrad degree). I was wondering, is it enought to have a solid master (LSE, etc) for being promoted into higher ranks in London? Will NY follow that trend? I've read, i think in NY Times, that more and more young bankers are opting for NO b-school and just moving up the ranks. Any comments would be great.
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Yes, it is common in London. Undergrads go straight to IB and after three years may start to apply to PE funds.
I read that article also. The reason that these bankers were opting out of the MBA is because they had the opportunity to be directly promoted w/o the degree. These were candidates that had planned on staying in banking long-term, and, as the MBA is only useful for getting to the Associate level anyway, they saw the opportunity cost of the MBA (2 years + foregone salary) was not worth it. If, however, a candidate wants to switch industries, I still think the MBA will be useful. It also opens doors, regardless of whether one decides to stay in banking.
What about PE? i thought they required an MBA, but if you check the profiles of the people working there, they dont have MBAs.(frankly, i thought their profiles would be better, they werent all GS, MS, just regular folks from average IBs - i checked top PEs)
They were probably pre-MBA associates. Have you seen this thread?
http://www.wallstreetoasis.com/forums/carlyle-associates
1gs, 12ms, 1leh, 6ml, 5jpm, etc....
yeah, you are right, but still, not a lot of MBAs in the London office, i checked their website.
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