Work experience for MBA app?
A bit of background information: I am 26-year-old material science PhD student from the UK who will graduate next year. I want to break into IB, and I guess the only way to do such a big career switch is through an MBA. I have a few questions related to MBA and school selections, hope you guys could help!
1. Upon graduation, should I try to get a"finance" role in big Pharma or stick with my science research? Which one is better for MBA application? I guess I need to get a 3/4 years of exp before applying.
2. I have plenty of internships and a full-time job prior to starting my PhD, but they are all science-related (in Pharma/research organisation) instead of finance/business one. Will this affect my MBA app?
3. Given my weak CV and weird background, is there any chance of getting into a good MBA (say T15/good program in Europe)?
Thanks!
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What's your university? If Oxbridge/Imperial/UCL, you'd probably have a shot at Associate positions with a bit of networking - think more technical IB coverage groups (industrial, pharma, mining, etc. depending on your background) are possible, but you'd have a particularly good opportunity at ER if you can find a niche related to your experience. Project finance/real asset management could also have a space for you too, sometimes having specific technical teams alongside people from more financial backgrounds (MIRA is an example of this). Only problem is getting pigeon-holed in a narrow space.
MBB consulting would also be a real option, again assuming you're Oxbridge/Imperial/UCL - materials is very well respected at McKinsey and BCG especially and I know quite a few materials PhDs at those firms.
If you're not from one of those four targets, it's going to be a real uphill struggle to recruit directly and the MBA is probably your best bet.
Not from the top unis, I did my undergrad (and doing my PhD) at the same average Russel Group uni. This is why I am planning to get an MBA, just to get a brand name on my CV... Obviously that depends on whether I am capable of getting into a good programme...
Others will have be better placed to comment, but not sure if an MBA would be a great investment before work experience - especially as you probably won't have much in savings after a PhD and 100k+ in debt isn't a great place to be. Recruiting out of a US MBA will not be easy at all without WE.
I think you'd probably be better trying for an ER position through networking (possible out of a RG) and if you still want to go IB later go for the MBA after two to three years working (by which time you'd be 28/29 so not that much older than average for some of these programmes). Alternatively, perhaps consider a business-related MSc at a UK target or HEC/Bocconi etc. which will give you the name brand and may give you a full scholarship as a PhD is quite an interesting and unusual background. Cost of that is going to be much less than an MBA.
My MD has more or less the same CV, did his PhD in a science role and then went to a Big4, and from then to a MM bank. It is possible if you want it.
Big4 Audit grad scheme?
PhD -> Healthcare consulting -> Healthcare IB
They won’t get into a good consultancy from a non-target. Big 4 will take pretty much any RG graduate though and may be with a look per the comment above.
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