Currently in the middle of a pre-MBA PE role and thinking about what will happen at the end of my two years.
Would it be crazy to prep for business school apps and for buyside role interviews at the same time? The cost of business school is a huge negative for me, and ideally I would like to jump to another shop after my two years. But if I get into HSW, then I think the rebranding opportunity would be attractive enough for me to consider the MBA, given that nothing in my background is that compelling. My biggest concern is would it be realistic to study for the GMAT, prep, write essays, etc. while studying for buyside interviews at the same time? I don't want to half ass both and end up with nothing in the end.
It would help if someone with experience can look at my background and let me know if there is like a MM IB
- LMM PE (~$500 fund size)
Any idea of GMAT?
FYI the acceptance rate at GSB is 6%, at HBS it's a 10.4%. So getting your chances under 10% is pretty easy. Wharton's acceptance rate is a more robust 20.7%.
Dang, didn't realize they were so low. No idea about GMAT. I don't want to commit to studying for it unless i'm actually going through with the process. That being said I'm a good test taker, but not sure how hard a 710+, 740+, etc. will be for the GMAT as my critical reading/comprehension is probably my weakest point, with math and logic being my strongest.
Just a thought, if I were to mass apply to the MBA business schools">M7, do you think that there's a >50% chance I'd at least get into one of them with my background? A vacation sounds nice, especially if I were to get some financial aid.
If you were to get an above average, balanced GMAT score, you would have a >50% chance in the M7, provided you provide compelling context for the 3.3., which is also below average for the M7, and have as unique a story as you think along with above average progression on the job, which it looks like you have. You also need a goal that requires an MBA, and that goal has to be more than just rebranding.
If you'd like my thoughts on when is an MBA worth it or not, please see Is an MBA Worth It, or Is the Sky Falling Down on the MBA Degree?
"Mass apply" sounds like you are under the impression that there is a common app on which you could click 7 buttons and submit the same materials to each of the M7 school.
With a 730+ GMAT (to counter your softer UG GPA) and a compelling narrative which connects your background and goals to resources at each of the individual programs to which you are applying, you should be a contender.
Much of this will come down to your GMAT, the effort you put into articulating your story and your goals and doing your research on each program.
Even if you don't plan to apply until R2 (so you can weigh MBA options with new career options) you should get started now. See this article for what you should be doing in February .
HSW are going to hinge on how unique/interesting your story is (and a 740+ GMAT). As a general rule, State school --> MM IB --> LMM PE candidates are a hard sell for H/S, and increasingly for Wharton as well, but there are always a handful of exceptions ever year if you've got a truly remarkable story and are a strong enough writer to convey that in your application. Kellogg, Booth, and Columbia will be much easier, but the value proposition is a toss-up at that point. You'll have a great time and be able to recruit for MM PE, but likely not anything you can't land on your own already.
Anyway, a lot of people will dual track their MBA/recruiting process. It's easiest to do this when you apply to b school round 2 (so you have until May to make your decision), but ideally you'd get most of your essay/gmat/recs work done by early December. I wouldn't worry too much about recruiting and applying to school at the same time as recruiting tends to be just-in-time / short cycle at this stage (much more so than pre-MBA recruiting), so if you're recruiting for a post-MBA PE position to start summer/fall 2021, you're likely not kicking off those processes until spring 2021 at the earliest.
Had no idea about the timelines, so that's super helpful!
But yeah, you confirmed my thoughts exactly. Unless it's HSW, I'd imagine it would be an uphill battle to recruit for decent PE gigs coming out of the other MBA programs. Why pay $200k for a hard recruiting process when I'm already expecting a hard recruiting process without it.
But it's a good thing to note that it's possible to do both at the same time. Thanks!
My 2 cents as someone who just finished the MBA process and is going to one of Booth, CBS, Kellogg with the goal of PE. If you came from MM PE, it'd be doable to go to a firm with $5-15B AUM. Still a grind but definitely possible.
This will all hinge on your GMAT and strength of story/essays. People with your GPA, race/gender, and work history have gotten into every MBA business schools">M7 certainly but the differentiators are high GMAT (710 will look very different from 740 which in turn is very different from 770 for the adcom) and how convincing and unique your story is.
And of course, this is to say nothing of whether an MBA is worth it. If your goal is to move up a tier to UMM PE, any of MBA business schools">M7 will do the trick. If the goal is megafunds, H/S is needed and even then will be very challenging (but easier route to the UMM funds).
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