Can a trader (market-making) at a top prop shop get into a top MBA program? (Profile included)
Profile:
GPA: ~3.9
Major: Math/CS
Employer: Top prop shop (Optiver/IMC/DRW/Jump/Citadel Securities etc.)
Work Experience: Have done internships in prop trading and one of FB/Google/MSFT/AMZN
ECA: Currently run one of the quantitative finance clubs at my university, but that's it. I'm pretty sure I'm quite weak in this aspect.
Targets: M7
Demographic: Male, Asian (Indian/Chinese/Korean)
I'm currently a senior in undergrad, graduating with a degree in CS and Math. I attend a non-Ivy (top 25 school). I will be joining what is regarded as one of the top prop shops in terms of market-making/HFT ( Optiver/IMC/DRW/Jump/Citadel Securities etc.) industry.
I know that trading is very risky due to the high turnover and can be very stressful, and I certainly do not anticipate staying in the trading industry for the rest of my life. One thing I have heard about trading is that there aren't many exit opps - one of the only viable ones is to go back to school.
I'm curious if it is possible for a trader at one of these shops to get into Harvard/Stanford/Wharton for an MBA, or if it even makes sense to go down this path. At the moment, I have no interest in a PhD or Master's degree. If I do stay in trading, I would like to go down the path of managing a desk, or overseeing the operations/long-term goals of a firm. That is where I see the value of an MBA come in to play.
From what I've read, it seems like almost all admits to top MBA programs come from top investment banks or MBB. Would a trading role at one of these top shops help me stand out if I do decide to apply?
The short answer is yes, you can be a compelling candidate to any of the top business schools but you have to tell the right story. Fundamentally, to get into any b-school you have to answer the 3 whys: Why an MBA? Why now? Why at a particular school? For you the key question is going to be why an MBA. While everyone recognizes you get an MBA to make connections, network, and (sometimes) make more money, you in particular have to highly specific on what your career trajectory looks like going forward – or more specifically what can you only do with an MBA?
What skills do you need to learn in business school? One way to do it is to haunt Linkedin or your own firm’s directory and see what MBAs are doing at your firm that you can’t now. “I need an MBA to have the skills I need to do what John Doe is doing at my firm.” Pretty simple, I want to be a firm leader, all the leaders of my firm are MBAs, so I need an MBA.
Another (harder) option is talk about how from your vantage point in business, you have seen the parts of business you really want to be in and to get there you need an MBA. Maybe you say given what you have done, you need to develop your leadership skills or strategy skills. This could be a compelling case for business school.
Remember there is a pathway for anybody to go to business school, whether it means doing your own job better, or get a bigger job in your current industry, or develop the skills you need at business school to do exactly what you want to do. Over the next couple of years think about where you want to be and then be able to explain why an MBA will help you get there.
There is nothing that you wrote that will prevent you from getting an MBA at an M7 program, including H/S/W. However whether you actually do get in is going to depends on what you do going forward:
For more on these points, and a few other tips, please see Prep for B-School: A 4-Year Guide of College Students & Recent Grads .
i had friends at the MBA program I attended (non H/S M7) that came from top prop shops such as susquehanna/jump
Were they traders at SIG/Jump or another role (SWE/Quant)? Do you happen to know what they ended up doing after the MBA?
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