3 Years in IB --> M7 MBA?

I will be starting as an IB analyst at a top MM firm (Jefferies/HL/HW) in June, and would like to get my MBA after 3 years. How is this viewed by admissions at MBA business schools">M7 programs? Would I be at a significant disadvantage relative to my peers who went the traditional 2+2 IB-PE route?

Also, my bank has a program in place to sponsor top ranked analysts through b-school which I could take advantage of. Would having employer sponsorship increase my likelihood of admission?

Note that I scored a 710 on the GMAT and have a 3.6 GPA from public big 10 university. My ultimate goal post MBA is to either stick with IB or transition into corporate development/consulting (in that case, forfeiting any potential employer sponsorship $$).

I know it's hard to plan out so far in advance, but I am curious how feasible this plan is. Any insights would be appreciated

 

I returned recently from an MBA business schools ">M7 admissions weekend. A sponsorship would make you very competitive. Same with your work experience and GMAT. I saw a decent number of people with this background (IB no PE). The only weakness I see in the application is 3 years of work experience. Most people have 4 to 5 years when they start b-school. Though this could be offset with the sponsorship.

 

You'll be fine - it's not uncommon for bankers to be applying after their 2nd year (so they have 3 years at matriculation). Yes, you'll be at a slight disadvantage compared to those with IB/PE 2+2 simply because they will have an extra year of experience at the time of application (3 years instead of your 2). But don't let that impact your application.

For now, just focus on getting ready for work. That's by far your most important thing right now (2 years is an eternity right now if you haven't started work yet). To be honest, business school shouldn't even be on your mind at this point. It's akin to a draft pick worrying about free agency before he's even played a single pro game as a rookie.

Alex Chu www.mbaapply.com
 

Just as a reference point, I have 5 years of IB experience (2 at BB, 3 at boutique) and got into 2 out of the 3 MBA business schools ">M7 schools I applied to. I think it's pretty common to see bankers go from analyst->associate then business school surprisingly after searching around LinkedIn and speaking with multiple, current students at the MBA business schools ">M7.

 

If you're sponsored, you're good to go. Without it.. 3 years experience, 710 GMAT...MBA business schools ">M7 will be a bit of a reach, although still possible. The way schools function, is they decide they want to have a class that is x% finance people. Unfortunately for you, finance people have on average very high GMAT's compared to the other buckets.

 

From the standpoint of experience I have seen one guy actually go from 3rd year to HBS. Same goes for a lot of consulting guys, they go after 2 years.

as for what your chances are at different schools, you should post in the Business School Forum.

I'm talking about liquid. Rich enough to have your own jet. Rich enough not to waste time. Fifty, a hundred million dollars, buddy. A player. Or nothing. See my Blog & AMA
 

Don't most consulting guys go to business school after 4 years? I'm pretty sure it's 4 years, not 2.

Definitely not asking for chances on business school, just saying that I am aware that my chances would to the two "best" MBA programs are pretty much non-existent if I were to pursue business school after only 3 years.

 

No, McKinsey usually makes their business analysts leave after 2 years to work somewhere else, be it a non-profit or go to business school.

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 

Yes, it's possible. A ton of people go to MBA business schools">M7 MBA after 3 years in less rigorous and "prestigious" jobs, so it's definitely possible from banking. I've actually seen few linkedin profiles where people went after 2 years of banking. I think having a lot of leadership activities in college, and crafting a good essay helps with that.

 

Where are you getting your information that being a business undergrad is a disadvantage. Doing 2 years in IBD and then MBA is a kind of standard path. I don't think you have anything working against you.

 

i know it isn't exactly a disadvantage, but my concern it that they prefer non business majors. Because it is such a standard path I am concerned that there are going to be hundreds of other applicant with the same background. And with people like the new dean of NYU Stern trying to ween themselves off Wall Street, my question is: is there any top 10 MBA safe haven for us finance guys to ?

 

Peter_27,

Take a look at the stats of the schools you're interested in applying to. Generally they list undergrad major as one of the buckets. From what I can recall, typically somewhere between 15-30% of the class usually has an undergrad major in business. I agree with Anthony, I don't think it is a disadvantage.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

You need to take a look at what % of applicants for their class is comprised of business majors. If they work anything like UG admissions councils, you WILL be bucketed and measured against people in your own "group".

MBA programs are often a huge duplication of the material at the undergraduate level so consider that.

 

well, i have yet to pursue an MBA but most of my undergrad business courses utilize MBA -level textbooks, which aren't that different from undergrad level texts. i mean yes, MBA-level texts go into more detail about certain theories, but the underlying material remains the same.

To be honest, as a finance major, I don't really see any academic value in an MBA. The only reason to get one is the vast networking/career opportunities. MBA finance courses are basically just a rehash of bachelors-level courses and a lot of the top MBA programs don't even disclose grades. But this is old news- people get an MBA to switch careers or b/c their employer requires it. Of course people will talk about how getting an MBA at z school will enable them to take their knowledge of x and y to new a level in their admissions essays, but come on, they are lying through their teeth.

If I really want to delve into the advanced quantitative side of corporate finance and investment theory, I'll get an MSc finance at a top European masters program that actually requires me to write a thesis paper and then maybe pursue a PhD.

For the record, I'm not knocking MBAs, and I intend on getting one in the future. I just don't think you really learn anything new or useful (at least in finance)

 

Sounds like it would be very difficult to get into any of those schools with such little experience. Most go to PE before getting their mba so that they can get the experience the top schools look for (think average is around 4 years). By applying earlier you don't have much differentiation and may come across as the dime a dozen BB analysts that apply. This would be a very tough spin... try to come up with some way to sell yourself that separates you from the rest, but will be tough, can't say I would know how to sell that without knowing your outside activities, etc. Good luck

 
Best Response
WallStreetOasis.com:
plus, much more difficult to get into PE without and pre-mba PE experience...

I second this motion. The OP is writing like they have a PE/HF spot lined up when they get done.

You are taking a HUGE risk by going to b-school so 'early'. There was a post the other day where someone mentioned friends that were graduating with a Wharton MBA and several years of IB and PE experience but were taking jobs in F500 corporate development and going to small PE shops or even back to IB because there are soo few opportunities. Plus the more experience you have the better your chances of getting into the aforementioned schools.

I'm in PE now (recently started) and I am already thinking of changing my plans of getting my MBA in 2 or 3 years because I'm not sure if I will be as competitive as I would like to be for bigger buyside shops during recruitment. Good luck.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

Probably just a rumor. One you should not continue to perpetuate as you will poison the young minds of aspiring b-schoolers and provide false hope to monkies everywhere.

Obviously, top performers at BB are highly coveted by b-schools as BBs serve as both screens and training centers for hard working type A personalities. IBD is highly competitive and Darwinistic in nature. The only downside to being in IBD when applying to b-school is having to differentiate yourself from other candidates with similar backgrounds. B-schools seek diversity and can only have so many IB guys in their class.

 
philliesphan:
consulting>>>banking for IBD especially MBB but IBD+PE> or at least = just consulting

Didn't understand what you tried to say (or maybe I did and it just doesn't make sense). Please explain.

 

MBA's are networking and skill refreshment degree's. Thats it. Top schools love IB/ MBB because with that experience coming in you will have no problem doing even better with an MBA.

You make a million bucks with a Harvard MBA you will donate, make the program look great, be a prominent person, increase prestige.

If Harvard admits kids with McDonalds background they will fall on their face once they get done, bitch about the degree, not achieve anything amazing and no one will wanna go to that program. Thats it.

Kind of like the original USA Dream Team. You let all the best NBA players on the team, you win a gold medal. You let all stars into top schools and all stars will graduate.

 

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