Hey guys, would really appreciate insight into what the experienced and educated individuals on this forum think my chances would be to get into a top 20 MBA program such as Cornell (Johnson school of Business) given my unique circumstances.
Here is my brief story and hopeful path to a solid Business school:
Right from highschool, I enlisted in the military and served for four years. I am in my final semester of undergrad studying business and finance and should graduate with a 3.85 GPA. I am 25 years old. My college is a non-target and it is looking like if I decide to take a job upon graduation I will be stuck with a sub-par position.
I love trading and the stock market and have been managing my money in the market since I was 19 (2008). If I don't get any job offers that look like they are worth it to me my plan is to trade independently (or potentially at a prop shop) work on earning my CMT, take the GMATS and then in 2015/2016 start the business school process.
As a veteran, there are a good amount of solid business schools I can attend for free including Cornell. Cornell is my #1 goal for business school. Assume I earn a gmat score between 700-720 with a 3.85 GPA.
My main concern and reason I have came here for opinions is: If I graduate undergrad and trade for a couple years would I have a chance to still get into Cornell without having a strong entry level finance position out of undergrad? How badly do you guys think it would harm my chances of getting into a school like Cornell if I don't get a really good job out of undergrad?
Thanks and I look forward to getting feedback.
Please, please don't trade in what you call a prop shop. Trading arcades will suck up all your money with exorbitant and useless fees. Instead, get any kind of relevant position you can (maybe private wealth management at a BB?) and then apply to B-School. You can trade on your own time outside of work.
I appreciate the feedback. Considering there has never been a student to come right out my school and go directly to BB I pretty much have no chance of that happening. I am working on some ER reports and have some asset management firms I plan on applying to. My goal is to earn a position at a long/short or global macro HF, but not sure how possible it is coming from my school which is why I want to go to a top B school.
The GI Bill I assume paid for your undergrad and will pay for business school, correct?
I mean, there's nothing that stands out as phenomenal in your background, but the US business schools LOVE military applicants. If I were you I would try to get 2-3 years of work experience. You won't be dinged for being 27 or 28 (a little older than the target MBA age) because of your military service.
Yes thats correct using the Post 9/11 GI Bill. How important do you think it would be to get work experience instead of trading?
Unless you are especially good (like, you made $1 million trading your own money) I don't think you will get any credit for it under work experience--it may qualify for "life experience." Is your goal post-MBA BB investment banking? They typically hire post-MBA at the associate level. Generally, associates have IBD experience, but not always--the wildcard in all of this is that business schools and employers love military veterans, so it's hard to say how an individual company or admissions interaction will be impacted by your service.
You would want to go into the process with a game plan. It's all kind of a moot point unless you can present the MBA admissions committee with a strong reason for the "why"---why do you want to get an MBA and why at this program? What do you plan on doing with it? Without a good story/plausible explanation nobody gets admitted--and obviously, "I can't get a job" is not a good explanation. Without work experience--in any post college field--it's hard to put together a plausible story for the "why".
Since you have a high GPA and since the GI Bill will pay for it, maybe consider law school (again, if you can piece together a plausible reason why).
DC - I appreciate the insight. My goal is to break into the hedge fund industry and someday become a portfolio manager. Cornell has a great Asset Management program that I have researched. I love the stock market and trading and I am currently working on putting together some ER reports because there are some firms I plan on applying to. My goal is to some day own my own Hedge Fund.
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