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Go to an MBA business schools ">M7. You'll have more opportunities
Thanks for the response. I see your point, but would my opportunities really be limited if I went to LBS or INSEAD? I guess I should also add that my fiancé recently landed her dream job in Switzerland.
Sorry if this is too personal, but do you mind me asking, what made you decide to want to get out of banking and go into mgmt consulting or healthcare?
If you're looking to stay in Europe for the kinds of jobs you're looking for (consulting/healthcare), going to LBS/INSEAD as good if not better in some respects compared to a US top 8 school. In terms of MBA recruiting for mgmt consulting it tends to be more regional in that the European offices tend to focus their efforts on the Euro schools (there's enough of a pool that they don't have to go overseas to the US to do that), much like their US offices tend to focus on US MBA programs for recruiting. Doesn't mean you can't go cross-continent either way, but it's natural that the focus is regional. As for healthcare, you'll also likely be in as good if not a better position being at a Euro school if you're looking to work at say Roche, GSK, Novartis, etc just given the proximity (compared to being an ocean away). And given that your fiancee is in Switzerland, it's going to much easier on the relationship as well (assuming you value your relationship with her, that is).
Thank you for your insightful response. You seem incredibly knowledgable about the process. Yes, I am planning on remaining in Europe for the foreseeable future. My parents have moved here and my fiancé is Swiss, so I don't really have any definite attachment to the States besides through birth. That's interesting regarding recruiting for management consulting, but makes perfect sense. The ultimate goal is doing something in healthcare. A part of me believes that the management consulting might be a necessary step in getting to that point though. Haha yes, moving back to the US would put quite a strain on the relationship.
Would you say that LBS and INSEAD are the two most highly regarded? I was surprised to see that IMD was not as highly ranked as I thought it would have been.
In Europe, it's essentially LBS/INSEAD, and then everyone else. IMD is it's own thing -- traditionally it's more like a full-time executive MBA program, with a lot of folks who were sponsored by their employers. That I believe has changed somewhat over the years, but if you look at their class profiles, you'll see that it looks quite different than traditional top MBA programs (where 2/3rds come from mgmt consulting or finance) - at IMD, it's overwhelmingly industry. And while consulting firms do recruit at IMD, again most people tend to go back to industry - it's not better or worse, but just a different kind of student body than a traditional MBA program.
Given your personal situation though, IMD is probably best for you. However, in terms of recruiting and the MBA experience itself, you'll likely get a more traditional "full-time top MBA" experience at INSEAD or LBS. While IMD doesn't skew as old as it used to, if you look at the class profiles it still skews towards early 30s, whereas INSEAD and LBS will be a few years younger (more folks in their mid- to late 20s).
Beyond that, you're looking at Oxford and Cambridge - both newish b-schools (less than 20 years old) but given their parent university's resources and reputation, they certainly have made amazing strides in such a short time that few other universities could do. They're not quite at the level of LBS/INSEAD (yet), but have been able to attract big consulting and finance recruiters (being close to London, where a lot of the post-MBA jobs in Europe cluster, also helps as well).
My suggestion is to apply to LBS, INSEAD and IMD - and then decide (you can't decide if they haven't given you an offer). Look into Oxford and Cambridge as well - or even pop in to visit and see whether they're worth your time to submit applications.
For you, Stay in Europe
Are you interested in the academics of an MBA program as well or would it be purely for rebranding? You seem to have a very solid reasoning for wanting to transition out of banking and if you decide to go the management consulting route I am not sure you need an MBA. If I were you, I would reach out to consultants at the top 6 or so houses in Switzerland (I'm assuming that's where you'd prefer to go) and talk about your reasons for wanting to transition to mgmt. consulting and if they have any tips for applying. See if you can find any that you have something in common with (someone who went to school in the US, someone who transitioned from banking etc.). Chances are someone will like you and help get you an interview.
You may start at a lower rung on the ladder than if you transitioned from an MBA (though I'm not sure about this). However, after 2 years, I'm sure you'll be at the same place, and I believe you'll learn much more from 2 years in consulting than 2 years in business school. Even if you want to transition in to pharma, I believe 2 years of consulting (hopefully with pharma-related projects - I would assume that's likely in Switzerland) will put you in a better position.
If you are passionate about the academics and want the brand on your resume, then it's a different discussion of course. Just wanted to make sure you considered this opportunity. Worst case, you apply to consulting while you apply for business school as well and don't get interviews. It doesn't take much of an effort to pursue this opportunity.
I am interested in the academics as well. I think it could be a good way to explore what I believe I'm truly passionate about. Do you think it might be difficult to go straight from IB to say Novartis/Roche without having the management consulting experience? Yes, I would prefer to be in Switzerland and that's an excellent point regarding connecting with someone who also went to school in the US.
I might as well apply for both of them. Thank you for the suggestion.
I am still doing undergrad in europe, so take my opinion with a grain of salt.
I think that as recruiting is not structured in most parts of europe, you can definitely get your m7 degree if thats something you would personally prefer and than just send your resume to companies you want to work at and they will for sure give you an interview. You do not need the whole recruiting thing. The question you have to answer is if you need an mba at all (from BB IBD in London you can transition to MBB "easy"). And if you do want to get one (which will not give you that much of a salary bump compared to the us) where do you want to get it? Do you want the fun of living in NY for 2 years while going to columbia or whats your angle? Careerwise you can go No MBA, MBA business schools ">M7 MBA and LBS MBA without much of a difference in my opinion. From IBD BB in london you don't need an mba to land any job of the ones you covert.
That's good to know. I most likely do not need the MBA for MBB, but I'm not sure about pharma/biotech. I already have a masters in management from a school along the lines of LBS/HEC/ESADE/LSE. I was not aware of the fact that an MBA does not significantly increase one's salary in Europe. Thanks for mentioning it. I would probably only consider going back to the US for an MBA if it were at Harvard, Stanford, Wharton, or Booth. If I stay here and get one, then it would probably be LBS, INSEAD or IMD (maybe Saïd or IESE). My angle is primarily to rebrand myself, I enjoy school, and it would enable me to explore what I really want to do with my life. Although a part of me believes that an MBA would be somewhat pointless considering I already have an MSc in management
If you do have a top master in management already I would not do the mba thing unless its a dream come true for you (which probably would be more m7 than the european school) In your situation the debt is not worth it right now. You are successful across the board and If you want to do something finance related at Roche I am sure they will take you in a heartbeat! MBA is only worth it as a european to transition into the states. In Germany/Switzerland it might add an extra 10k to your Salary but nothing to significant. MBB does like MBAs but once again I don't think you really need MBB to transition and even if you do you don't need an MBA to get into MBB!
Attending Harvard or Stanford for an MBA would be a dream come true, but I'm slowly starting to realize that the opportunity to do that might have past due to where I'm currently at in my life. I had no idea that it essentially did nothing for increasing one's salary. Great insights! Thanks for the information.
In what role do you want to work in Pharma? Do you aim for Corporate Development, or what's your goal? If so, I don't see the value-add of some time at MBB. You can make the jump straight from M&A to Corp. Dev. For roles such as Project Management etc. MBB experience might be helpful, but those roles often go to "real" pharma people with a relevant degree and relevant experience.
Furthermore, I don't see the value of an MBA for you. Academically it is pretty much the same as your MiM. MBAs provide you with significant networks, a unique experience, a nice lifestyle for some time, etc., but you won't learn that much new. Moreover, MBAs are definitiely not as common and as important as they are in the US. Your Master's should be enough for you.
I would just try to speak to some people in Pharma in Basel (people in the business + headhunters) to get a sense what they are looking for and how you could best position yourself for your new desired job. As mentioned above, the route M&A banker to Corp. Dev. at Pharma company is definitely viable. Plenty of Pharma firms have major operations in Basel, from European powerhouses like Roche, Novartis and Bayer to Valeant, Teva and Genzyme. Just try to get in touch with people and prepare your applications, I'm sure you will get sth. w/o doing an MBA or switching to MBB first.
And if you were to go down the MBA route, I would try to get into INSEAD / LBS / Judge / Said as others have mentioned.
Most likely Corporate Development since that's what I would be most qualified for. Unfortunately, I'm starting to realize that my lack of a science degree could potentially hurt me if I want to climb the ladder at a place like Roche. I did a quick Linkedin search and it looked like most of the guys (non-IB experience guys) had PhDs or masters in a science related subject.
Excellent insight. Thank you for that and I'm starting to agree with what you and everyone else has been saying.
I'm starting to compile a list for my networking. It's just a matter of finding the time. Switzerland would be the ideal situation and Basel is not particularly close to where my fiancee is working, but definitely manageable.
I think it would really be between INSEAD and LBS. I did some more research about IMD and I don't think it's really what I want if I do decide to get an MBA.
It depends on your personal situation, i suggest you take decision based on you and what your fiance decide PS: Switerland have also good reputation MBA
Thanks. We spoke about it and let's just say that she wouldn't be "thrilled" about me taking two years off to essentially network and have a good time while she works 70+ hours a week to support us both financially.
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