Dear friends, I'm sincerely asking for your advice, feel free to share your thoughts.
I'm currently working in the Asset Management division at the largest investment bank in China, focusing on ABS structuring and debenture (ABS is categorized as asset management business by regulation) and also some alternative fixed income investment. I also did some CDO transactions (I'm not sure if that's the term, in China we call it "trade-type ABS), which is using trusts to issue loans to firms and repackage all the debt obligations into ABS and sell(given that there is a huge interest rate spread between trust loans and bonds in China, this proves to be very profitable, the annual IRR was over 11%). I'm also the youngest ABS structurer in the firm's history, but ABS structuring is really not that hard in China because investors don't understand these stuffs and you can't make it too complicated. I have been working for a year and planning to apply for MBA programs in the Fall of 2018.
Before I started working, I did a Master's at Georgetown University, GPA 3.92, and I think I can get a good recommendation letter from one or two professors. I did my undergrad at a Top2 university in China, double majoring in math and economics. My school calculates GPA separately for major and double major. My GPA of math was terrible, around average in the department, which is about 3.0, but economics was fine.
I consider MBA as a step stone to transfer to foreign markets. I hope to find a job at a HF in Hong Kong, Singapore or US in a few years, which could be very hard if I've only worked in a Chinese bank. I think MBA gives me a better chance to move to the more advanced markets. I haven't taken GMAT yet, and I wish to have a better evaluation on my chances at M7 before I proceed.
I'd really appreciate your suggestions, both encouragement and discouragement are welcomed. I just want a better understanding on my situation.
find a specific set of goals. and if you must need professor's recommendation, you have about no chance. Your geography is also messed up with such many choices, and US MBAs aren't near your 2 of 3 locations
Actually US MBAs are very hot in those areas, especially in Hong Kong. I've talked to professionals in HK and learned that a MBA business schools ">M7 MBA almost guarantees a decent job in HK.
Could you be more specifics about the professor's recommendation?
LOL. it's not a big on-campus placement focus, and you network the way yourself.
chinese MBA business schools ">M7 admissions are competitive, but you seem to have a solid profile. You'll need to do very well on the GMAT to stand a chance (740+). good luck.
Could you kindly provide some insights on the key attributes that MBA business schools ">M7 look for? Suppose I managed to score over 740 on GMAT, how much will the Chinese firm's brand hurt me in the application, after all, even the biggest bank in China does not stand a chance against Goldman, Morgan, etc.
im not entirely sure but the adcom reviewing chinese applications will be very familiar with the big banks in china
You should get professional recommendations not academic ones.
Sure, actually that would be easier, I have a really good relationship with my bosses and I'm sure they will give their best recommendation. Thank you for bringing it up .
Any other advice? I'd really appreciate it
If it doesn't work out, you should go to Baruch because its great opportunities.
-MikeFromBaruchII Son of a VP at a Boutique "If you cant work transactions why not advisory?" - Quote Leverage Leverage Leverage - Motto
I absolutely will try Baruch, I've heard so much about it and loved it. I think Baruch would give me a decent chance to lock down an opportunity in US. On the other hand, if I couldn't solve the Visa issues I would have to come back to Hong Kong, but unfortunately a great school like Baruch has not gained the reputation it deserves in Hong Kong.
Hoggie,
Assuming you get a high GMAT score, I see nothing in your profile that says "No way M7." Use this year to ace the GMAT, clarify your professional direction, and research the schools. If you don't already have one, consider making a non-professional commitment so that you don't come across as work-obsessed or uni-dimensional.
You might be interested in the panel discussion I am moderating on Wednesday for WSO: https://www.wallstreetoasis.com/event/webinar-panel-discussion-how-to-c… .
Best, Linda
Thank you Linda, I feel more confident now. I definitely will check out the panel discussion!
MBA admission judge you on 4 things: goals, leadership, academic and community
Goals: I wouldn't mention HF or PE in your MBA goals, those are traditionally recruited at MBAs an are long shots nonetheless. Do something safe that the ABS bankers often exit the industry to do and make sense (I don't know cause I wasn't one)
Leadership: being the youngest ABS banker wouldn't phase them, tell them you lead like a 200 bankers deal, help restructure finance for 5000+ company, blah bah something to lead
Academic: Top 2 university in China should be Peking or Tshingshua, either schools are big Chinese feeder to MBA business schools ">M7 schools. Lots of respect for both school in this side of the world. Your high GPA for MS at Georgetown definitely . Your GMAT needs to be 740+ (like the above post said) for you to have a good chance
Community: Finally, you need to break out of the Asian stereotypes: quant nerds who won't do anything for the community or anything fun. Pick up lots of fun/weird/competitive hobby: weight lifting, competitive tennist, etc. Being a tutor in quant or finance wouldn't do it
Source:I am an Asian/Finance admit at MBA business schools ">M7
Thank you sooooo much for your kind advice. Let me picture myself a little in the 4 aspects you listed.
Goals: I do want to find a job in HF at some point down the road. Although my title would be ABS banker or something like that, a large portion of my job is alternative fixed income investment. I have be building a knowledge background of credit analysis through my work, and I'm thirsty to learn the macro stuff to prepare for a career in secondary market investment. But I will think of something more suitable for the essay.
Leadership: I don't have a solid professional leadership yet, because I've only worked for a year. But I'm confident I will get more of that in the next year. It won't be leading 200 bankers (neither ABS nor alternative investment needs that many people), but it will be a good experience that I can put on my CV. Fairly speaking, I gained a lot more exposure to the work comparing to other people at my age (I have to learn fast to take more responsibilities, my team has been short on man power, I've been doing VP's work even though I'm just an associate), I think I can find some leading experience out of it.
Academic: Yes man I went to Peking University! I double majored in applied math and economics in undergrad. My school calculates GPA for major and double major separately and my math GPA is terrible, around 3.0, which is the average of the math department. I'm worried this could hurt me a lot, it has caused me an offer from MA Econ of Duke two years ago. I did really well at Georgetown though.
Community: I'm nothing like the typical Asian stereotype. I live an American life style my whole life and never experienced any cultural shock when I was in America. I used to be an amateur athlete, still in good shape. I also do guitars and compose a little bit. Also I got 30 on speaking test of TOEFL.
Thank you again for you detailed advice. Hope we can talk more!
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