What do you guys think will better prepare me for top MBA admissions after two years of experience?
-
Family Business
(head of international business development as a start, and head the company as CEO later on)
$5M ~ 10M revenue, green technology manufacturing business, 40+ employees -
Venture Capital
(Associate)
$20M~50M AUM, early stage technology (internet) focused VC
Both are in line with my long-term career plans, thus making both equally smooth in terms of story telling. Same location. I don't care for the compensation. Target MBA: M7 and top European business schools.
Right now, I am an investment analyst (2+ years) for global equities at one of the larger asset management firms.
Thanks! WSO Rocks!
I think both experiences will give you a great shot at your target schools. Cant say much about the VC position, but Business Schools love family business experience (because you won't be unemployed after the program). From a personnel standpoint, I would do VC and family business later.
Thanks. Great point in that the adcom won't have to worry about my employment after the program, if I come from a family business background. I'm guessing the samething applies for entrepreneurs with an established business before going to MBA?
Family business connections, no matter what position or how impressive the experience, always come off as a position of privilege. That said, it will depend on your ability to (quantifiably) boost company performance.
@Esuric I'm quite surprised how most people say family business > VC. But you're right in that the company performance will really determine the merit. I thought adcoms love VC people, but I guess they love family business people even more? (given the business isn't a complete failure)
@Personal MBA Coach Assuming CEO may take a while and may or may not happen pre-MBA, but the chance of assuming CEO pre-MBA at the family business is higher than the chance of getting a promotion at the VC, pre-MBA. When you say "craft" a perfect role, what could be an example? I'm not sure if I know what exactly you're talking about. Thanks!
Out of curiosity, what's your long term career goal and why wouldn't you just make it building and growing the family business and skip bschool altogether? Maybe money isn't your primary goal, which would be odd since you work in finance, are considering VC and want to go to bschool, but you can make more money running and growing a company, and perhaps eventually selling it, than any job where you're going to work for someone else post bschool. And have more fun and have it be much more interesting work than if you go into IB, consulting or anything post MBA. Hell, if things work out you'll hire investment bankers and consultants, and if you were to sell it you could be your own VC and/or PE investor.
If you're doing it for the actual education, you'll almost certainly learn more building and running a company (not denigrating MBA's) and if it's for the network, you'll be able to build a great network running a company. If you just want two years off to enjoy the social aspects of bschool, you'd be much better off just enjoying your time growing a company and reaping the benefits. Even if you personally wouldn't financially benefit greatly if the thing became a success you'd be able to parlay your experience into many different roles. And green tech is a growing field now and will most likely be for the foreseeable future.
Like I said, just curious.
@Dingdong08 I sent you PM! Thanks!!
@Personal MBA Coach Thanks for your input. I will email you, definitely.
If the family business is running just fine without you (and since it's the family business, my guess is given your background you will have some involvement to some degree, whether in a formal/informal advisory or consultative capacity - maybe even a Board seat or at least keeping abreast of what's going on at the board level) -- then for your career, you are better served working for a VC (or getting external experience). Especially if there's a reasonable chance you'll be CEO eventually in your family company. The VC job will give you greater access to people -- and that is critical. VC is a job about networking, and you will come across a lot of tech executives and deals all the time (regardless of whether your VC firm closes the deals, chasing the deals in an active way at least gives you knowledge of what's going on in the market, and knowing the major players).
Forget about how it impacts b-school admissions, as that may not be relevant.
From what little you wrote, the VC job in the short-term seems to be the better bet from a career standpoint in terms of positioning yourself for the medium to longer-term.
@MBAApply Thanks I will PM you!
When you look at the roles:
CEO: you're a decision maker, you lead the business, etc. (proven leadership/etc etc skills that attract adcoms) Associate: what do you do? Build models for other people to make decisions? Sit on meetings and learn from how other people make decisions? (potential leadership because you could be in a CEO role, unproven but high probability)
Obviously the CEO role looks better (proven vs unproven but possible) but you don't need to sacrifice anything here and can do both because your family job gig isn't going to disappear any time soon:
1) you work as a VC associate & build skills/contacts 2) moonlight as a consultant for your family business 3) eventually you go back to your business as a CEO with all the skills/connections as a VC
@Viktri Thanks for your comment. This is gold!!
You can slot in the MBA between point 2) and 3) and you'd still have both companies on your resume with the potential unproven and proven leadership on your resume.
Again this is gold!! Thanks :)
Im not sure how you go from CEO of the company to MBA without selling the company or some event where it relieves you of the CEO role. Think about if that'll be an issue, I assume full time right?
@amach3 Yeah, I've thought of that. It's a family business so I'll just be delegating the job to another family member or one of the hired senior executives. If required, hiring a professional CEO would be another option.
If you don't go with the family business immediately, just make sure to stay involved. Have family members send you company emails, reports, analysis, etc. and ask your family for some type of board seat or at least to be able to listen in on the advisory meetings.
You don't want to be the guy who randomly shows up after disappearing for a few years and then jump everyone on the hierarchy. Plus you'll learn the business and people over the course of that time period. Make sure to ask family members constantly about who's doing well and who's not working out. Then ask why. You'll learn a lot from your family's perspective because I imagine they are top of management so they have unique insight compared to someone mid level. I'm in a similar position and have definitely learned the hard way by getting too involved early or committing to unrealistic roles given experience/other commitments.
If you know a role is going to be there, it really isn't a bad thing to spend some time elsewhere in a more structured environment and bring that experience into your family's business.
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