This question is not for me--I'm less than 2 years out of college. This question is for a former colleague and very close friend of mine at church. Is a top-10 MBA 1) worth the time/$ for this guy and 2) is admissions even realistic?
- The guy was a finance major at the University of Maryland - College Park
- Graduated with a 2.5 GPA--yes, 2.5 GPA.
- GMAT: 720
- White male; he's going to be 28 in a year (if he were to apply)
- Job title: senior affordable housing underwriter, multifamily (apartments)
- Fannie Mae Multifamily (formerly) --> Deutsche Bank Berkshire Mortgage (presently) (and is presently a part-time fund manager in an REO fund); very strong career progression, e.g. research analyst --> underwriting analyst ---> underwriter ---> senior underwriter. Comp from $35k when he graduated to $140k today (5 years)
- 6 years of affordable housing finance experience (expert level)
- Speaks Spanish/English fluently
- VERY involved in politics (Republican) - no debating please
- VERY active in the church, including overseas missions
- Other: acting, community service
- Guy makes $110,000 plus 25% bonus (almost $140,000/year)
- Guy is a brilliant technical writer, so his essays SHOULD be decent
So, on the surface, should this guy even go to graduate school if he could get in? Could he even get in to a top 10 or top 25 with that GPA? Guy wants to start his own bank (MBA --> credential to sell his services to investors) and/or become a U.S. Senator or president (LOL--what a douche. Love him though). Dead serious, those are his goals.
Any insight?
So he wants to become senator, president, and on top of that open his own bank? And I thought I was ambitious...
All I wanted to do was make a million dollars before the age of 30. Guess my aim is too low.
to be a senator , or bank head i would say yes definitely have an MBA.
No, these are his lifetime ambitions. Just wanted to point out that his purpose for getting an MBA wasn't to get a top MBA, but to sell himself to investors to start a bank.
Any insight into the question? Could he get in? Should he go?
He is very strong except for his awful GPA. His GMAT indicates brains, so he should be ok, if his essays explain his performance.
His career progression is great, and his ECs are solid. Yeah, I think he is a legit top ten candidate. Top 5 is a reach, though.
A 2.5 will be a significant deterrent and it does not appear that he has done anything to mitigate the deficiency (besides his 720). Adcomms reco taking 1-3 courses and getting As to demonstrate academic ability and discipline (although this isn’t always necessary). He will need to explain his low GPA in the optional essay.
You really cant answer whether someone should get an MBA as it is a personal choice that comes with sacrifices (opp costs, debt, etc) and rewards (prestige, increased comp and opps).
I think his other stats compensate for his GPA quite well. But your buddy really needs better reasons to go to B-school. Desire for prestige and credentials never made a good essay. Tell him he needs to have a good story.
One idea would be how he wants to transition from RE underwriting to a different area of finance, the buyside, improve his soft skills to suit his entrepreneurial bent (ie. start a bank)... Just not become POTUS.
This is obviously a joke. But, in case you didn't notice, most lawmakers will have a JD, not an MBA. It is like, most doctors will have an MD, not an MBA.
I highly doubt that more than 10% of our lawmakers (congress) have a JD.
I also doubt that more than half of them actually finished highschool.
Hey, it's his life--not mine.
BTW, our most recent president was a Harvard MBA, for what it's worth. Also think we need less lawyers and more finance and accounting persons, ya know, writing federal budgets. But that's just my humble opinion and I digrees from the original question.
So, yeah, his GPA--when he told me it I laughed out loud 'cause this guy is ridiculously smart. But it doesn't appear as though he will be making a new transcript (I kind of doubt he has time).
He probably sounds like a good candidate for a Georgetown-type part-time MBA, eh? This is what I've been telling him.
I realize the second part was some lame joke. But just fyi on the first:
"Out of the 540 current members of Congress (including 5 non-voting members), 236 hold law degrees (58 Senators and 178 Representatives). That makes 44%." Library of Congress's Congressional Research Service
Haha, I checked that too when I read it, but decided not to post that considering the "source" I found, and the one you cited, is actually second-hand from Yahoo Answers
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