B-school chances?

romanov4561's picture
Rank: Monkey | 40

Hey guys - want a second opinion on this. Former NYC BB analyst here. Near the end of my second year as an analyst I was approached by some folks in a top group at an EB (Centerview / LAZ / EVR etc). As I wanted to be a career banker, they basically encouraged me to lateral and join them by promising a lot more deal flow, autonomy, potential for upward progression etc.. Once I got there it was very evident that they had misconstrued the role and the group had an awful culture (this is coming from someone who had spent two years in BB banking and knows the hours / demands of the job).

Two opportunities have come up for me - one is at a top BB on the west coast and the other is a top ranked MM in chicago (where I'm from). Both would keep me on my current career track (i.e. get promoted to associate this coming summer). There have been some health problems in my family lately and ideally I would like to go back home to be closer to my family, so the MM offer is tempting. Do you think these circumstances could harm my application if I ever want to go to bschool? Kind of feeling discouraged by the circumstances tbh.

Region: 
United States - Midwest
United States - West
United States - Northeast

Comments (21)

Oct 22, 2017

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Best Response
Oct 22, 2017

If the family situation is terminal illness (or something that is potentially so or could be on its way there i.e. a cancer diagnosis), make that a priority. Regardless of the career opportunities, you will hate yourself years down the line if you realized you put your career ahead of family situations like this. And that may not rear its ugly head right away. That kind of pain and regret is not something I'd wish on anyone - you can get through just about any career/job decision that went wrong (i.e. even your current situation where you took the job that you now regret). But you'l have a much harder time coping with regrets when it comes to family. Again, as a young person you may not even feel this right away, but can come back to haunt you years later in ways that no career decision can.

So let's say the BB offer is better objectively for your career, b-school admissions, recruiting down the line, blah blah blah.

But if that is the case, think long and hard whether it's worth making that trade off based on what's going on with your family.

Now, I know that some folks out there will try and justify it with "well the family situation isn't really that bad..." which may or may not be true in your case (but if the family health situation wasn't that important, then you probably wouldn't have mentioned it).

Here's the thing. I think if you take away the family situation, most people based on the info you provide would say take the BB offer on the west coast. So it's not really a career decision, but factoring in your family situation, which comes down to how important is it for you to be closer with your family at this time given their situation.

    • 11
Oct 25, 2017

It's hard to see early in your career, but put family first for your long term health and your family relationships. This is easily explainable on any future b-school applications. If you pursue banking as a career, you can always jump back to a BB in NYC from a MM in Chicago. I never worked for a MM firm, but I worked at 2 BBs and a boutique in a 2nd tier market. I liked boutique life way better and had more than sufficient earning potential.

Oct 22, 2017

you'll be fine for M7 either way assuming your stats are in line. put family first here.

Oct 22, 2017

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Oct 22, 2017

you can address it in your optional essay. Make sure to crush the GMAT given you're from a nontarget (the people at the M7 I attended who went to nontargets generally had 3.9+/740+)

Oct 24, 2017

Anything above 720 is fine for M7. I've seen someone with 690 score and non target(but high GPA though) get accepted to Kellogg. They worked at where I work right now (which is one of the big 4)

Oct 23, 2017

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    • 1
Oct 23, 2017

What do you hope to do with your MBA? Just advance in banking?

As long as you do very well at the MM you shouldn't hurt your chances

Oct 23, 2017

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Oct 23, 2017

I don't think you'll need it. If anything, part-time at Booth paid for by your MM. Then you have the credential and can move over as a VP. I don't think you'll need recruiting with your experience. Career bankers are rarer and rarer these days, I don't think you'll need the FT MBA at all

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Oct 24, 2017

yeah i think the non H/S M7 are fits for you

Oct 23, 2017

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Oct 24, 2017

I think it's dependent on a lot of things, but I don't see any reason (barring any huge changes in admissions standards or school reputation) that you shouldn't be competitive at Wharton/Booth/Columbia/etc. I agree that H/S would be a stretch, as it is for almost all pure banking candidates without an extra hook (URM, significant and influential volunteer work, compelling personal story, etc.). I would think the FT would only be necessary for a career switch, in which case you'll need to really sell your career switch goal

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Oct 24, 2017

I think you won't need MBA if you're already in IB and will be promoted to associate soon. I think you should take the MM offer. It will depend on your exit opps later in your career whether or not you need the reset button.

Oct 25, 2017

Take the MM offer. When it comes to writing b-school essays, weave into the story how family circumstances motivated you to choose the offer so you could balance your career with personal commitments.

In the end, it may end up making you come across as a more well-rounded individual, instead of the success at any cost type of individual that seems to dominate banking.

    • 1
Oct 27, 2017
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