Best MBA/ Bschools(rank 10-20) for IBanking
Which are the schools that are good for banking recruitment?
Specifically interested in schools ranked 10-20. I'm a career switcher with previous experience unrelated to finance, planning on doing MBA to get into banking associate positions.
Based on research in WSO, I've come up this list.
Darden,Duke,Yale,UNC,Cornell,Anderson,McCombs (I've ranked the list, but dont know how much this is accurate)
Not sure which of the schools above are heavy hitters for banking?
Looking at employment reports, I do see banks visit these schools, but not sure what functions they recruit for(not all banks seem to recruit for banking, but for PWM,corp strategy etc).
Assuming banks do recruit at these schools for banking, how "easy" is to get interviews for a career switcher, assuming one does networking and attends info sessions?
for the most part companies recruiting at those schools recruit regionally. I would recommend yale, cornell for NYC. McCombs for Houston or Dallas. Darden and Duke for NYC and south of that, anderson for west coast
I've heard that U of Phoenix will place directly into a managerial position at Goldman. Janitorial Services is a pretty risk-free career path.
Regional. Where do you want to work?
Thanks mikrbraddy and txjustin.
I'm not keen on location (though would prefer NYC for better career progression, down the road, but other than that I don't have any preference towards NYC). So, if location is not an issue, all these schools give a good shot at banking?
I'm more concerned about even getting the interviews(after which it's up to me) as a career switcher who has absolutely no work exp in finance.
Yes, all the schools you named will give you a shot at banking. Like I said, they are regional. Your best bet at NYC is a school closest to that area.
Thanks txjustin
Is it possible to get into I-banking with a 10-20 B-school MBA? (Originally Posted: 12/28/2013)
Hey! I was wondering, if I can't get into the MBA business schools">M7 or top 10 MBA schools, is a 10-20 school MBA enough to get myself into IBanking and other related financial industries?
Thanks!
yeah
Absolutely, plenty of associates from Johnson, Darden, YSOM, Ross, etc.
MBA to break into banking w/ no prior IB analyst exp? (Originally Posted: 05/27/2011)
here's my story, I went to undergrad at U of C economics major 2007 class with a 3.3 GPA (dragged down by some stupid stuff like French classes, so dumb in retrospect). I've worked for Bank of America doing mortgage finance for the last four years, specifically, working in the area (secondary marketing) responsible for hedging, trading, and pricing BACs 15bil/mo pipeline. i've had success at work but Ive decided that the work culture/area I'm in isnt challenging enough, competitive enough, high pressure enough or fast paced enough (that may sound cliche but i 100% mean all those things)
I've made up my mind to go back to Bschool and want some opinions about how hard it will be to break into ibanking. I've gained great Excel/analytical/modelling skills and 'soft' skills including having a direct report, group/communication skills blah blah. I am attacted to the competition, the challenge and the idea of working with high caliber people in a fast paced environment
my question is, assuming i do pretty well on the gmat (1470 SAT, confident I can get 680, shooting for 700+), how hard will it be to transition into banking? Is BB out of the question, and my best bet boutique? is it a lost cause and a waste of money to get the MBA at all? i realize a lot of this is contingent on caliber of business school (applying this fall to start next year).
thanks for any advice
Go to a top 7 business school and you will end up with a bunch of offers. No doubt about it.
How do MBA grads jump straight into IB? (Originally Posted: 02/04/2012)
if they dont have prior IB experience, how are they able to become an Associate? Shouldnt they be Analysts?
Do you really think you could convince an MBA graduate to take a bitch analyst job?
The point is that the post-grad pre-MBA experience + advanced degree supposedly makes you more qualified and thus worthy of a higher position.
I sometimes think about this myself though. My dad has frequently told me that the stuff I'm doing in my finance classes is exactly like the stuff he did at his MBA business schools">M7 b-school (didn't do business ugrad). If I'm an analyst and the associate above me has literally the same amount of IB-related experience I do, why does he get to act like hot shit?
They would have to do something like consulting, corp finance, or maybe big 4 TS or have worked at a valuation shop or they won't have a very good chance I wouldn't think. Banks are going to want someone that's already done banking before as an analyst, and one would be stuck in an awkward spot between analyst and associate. Maybe you could come in as a second year analyst or something at a smaller shop.
I actually know a guy who thinks he's going to go and get a middle of the road MBA and then jump straight into an associate spot at a bulge bracket. I tried not to laugh and explain it to him that it doesn't really work like that.
I know a guy who did just this. Now, to be fair, he went from consulting to Wharton to banking. But.. basically the same thing.
I've seen a lot of people without finance or consulting experience become associates, after a top mba of course. The view from the banks is that people only need a certain level of knowledge. They are looking for people to train and most importantly people to get the crapped kicked out of them. IB is a sales job and what you do someone can be trained. Analysts and associates do the same crap except associates have a little more leeway in that they can tell the analyst what do to. All in all it's the same crap job except the associate takes the heat if shit hits the fan. I don't think analysts are ready for that type of crap since most analysts have little "real" experience and will probably go crying to mommy when he/she gets yelled at.
MBA--> IB is a better path than IB--> MBA? (Originally Posted: 03/15/2013)
Agree? Disagree?
I've seen people do both routes. Depends on opportunity/perspective/trajectory.
One isn't better than the other. They're just different.
Depends if you are doing IB as a career or if you're just doing it to gain entry into PE/HF/VC
What if you don't want to do IB/PE/HF after MBA, but instead MBB, F500 mgmt, or maybe even ER? Is it still worth it to do IB before MBA , rather than F500 corp fin FLDP?
EXIT --> what helps
ER --> IBD helps MBB --> Nope. anything goes PE/VC --> IBD/Start-up experience (for VC)/MBB/PE experience is helpful Corporate --> not much unless your trajectory is drastic (like luxury marketing wanting to do general mgt at say, Alcoa)
The stronger the school you attend, the less you have to use your background to justify you're a strong fit for the job. HBS kids go to PE without PE/banking experience because of the perceived value of the brand.
Wouldn't IB > MBA > IB > Buyside be the best?
No, best is IB > Buyside >MBA > Partner track Buyside. From what I've learned on WSO.
In my opinion, IB is the best possible bet out of undergrad (of course if you can get HF/PE/MBB, those count too). In my experience, IB Analyst gigs are way harder to get - getting into a target UG is way harder than a target MBA. Analysts are by and large smarter and more pedigreed than Associates. IB Associates for the most part are the ones that couldn't get IB out of UG and have been striving for it ever since. This is not good or bad, it just is.
Thus to the original question, IB->MBA trumps MBA->IB for the mere fact that you were IB out of UG.
I agree with this mostly, except your statement that most IB associates couldn't get an analyst gig out of UG. Most IB Associates that I know didn't even strive for IB out of undergrad (i.e. engineering degree), but maybe you've had different experiences. I honestly feel somewhat sorry for associates: they work marginally better hours than analysts in their late 20s / early 30s (i.e. not the hours I want to be working when I'm their age), are in a situation where their comp is tied more closely to their group's / bank's performance (unlike analysts, who are going to get paid competitively regardless) and ALL of them are under the delusion that they're all going to make MD someday, when, in reality, about 25% of them (if not less) are actually going to make it there.
What about consulting firms like LEK/Parthenon? How would they compare to an elite boutique like Lazard if one just wanted placement into an MBA program?
You need to provide more context.
If you are saying which one is better in skipping the gruesome works and ridiculous working hours, I'd say MBA--> IBD is the best route. However, the skill set that you obtain during the first few years being an analyst would help you go almost anywhere in the industry. But of course, a lot of people who have the chance to work in IB do not even bother it simply because they care more about their family, health and freedom , rather than money. They choose to earn back the prestige by entering into top 5 MBA program and use the opportunities to get into top firms like GS, JPM, M/B/B, Blackstone...you name the rest
As some have said, it really depends on what your career goals are.
If you are interested in doing IB for the long haul, then your best bet is to either join a shop that strives to grow its analysts into MDs (e.g. Parella) or join as a post-MBA associate. Most analysts get burnt out because of what they are put through.
Now, if you are interested in buyside, It makes the most sense to become an analyst, then move to the buyside and then possibly an MBA.
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