Tried to do a search and couldnt find much on this topic, but I am curious how an ER background is viewed in the top-10/M7 MBA program admissions process? Treated the same as IB or viewed as "Tier 2"?
What would make a applicant more appealing with an ER background? CFA? Coverage in specific sectors? BB over MM or Boutique?
Would appreciate any M7 MBA's or candidates comments - looking to see if I could be competitive.
Thanks
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You're thrown in the same bucket as with IB because you both came from a FO finance role and it doesn't really change the makeup of the class. CFA is nice as it show you have the aptitude to do the work. If you have coverage that's indicative your a bit senior so maybe like VP level so I don't know why you would want to get an MBA unless to switch careers. Can't speak about BB vs MM but I think name recognition is part of it because you are already deemed a "screened" candidate because the process of getting an offer from these larger banks is definitely challenging. I've seen a couple of colleagues entering business school right now with only about 3 years of ER experience and they've manage to go to MBA business schools ">M7 or top 10 schools.
I just have the inclination that ER is viewed as subpar due to the fact that the MBA business schools ">M7 schools are filled with people with IB backgrounds and not necessarily with ER backgrounds. I know the IB base is much larger/more turnover and therefore would hint at a larger applicant pool, but ER still seems to be under represented.
How is the CFA viewed in MBA applications? What about progress (Level 2/3 candidate)?
The MBA really doesn't fit into the ER career progression. In banking, you have a clearly defined break at the end of your analyst career. A lot choose business school. In ER, that break doesn't exist.
Also, what would the MBA be good for? If you want to move to a L/S equity fund or AM, you are already in good shape. You could probably get a F500 job without the MBA too. And the MBA won't magically qualify you for a job in PE or distressed.
I'm not sure it would be so easy to get a F500 job without an MBA because I don't think there's much visibility into the relevance of ER experience in non-IR roles. Consultants and bankers go on to F500 roles in development, strategy, etc., and while ER guys certainly have the tools to make this transition, I would expect it'd be much harder for them to get attention.
Though I'd love to hear examples of people who have done this successfully.
I'm in ER and am applying to b-school to transition to corp strategy, FYI.
I saw one person move from ER to strategy after 2 years. I think it depends a lot on your ability to network, and your visibility to management. If you are just cranking out models, it could be difficult. But if you are actively participating in that company's coverage, I think it is doable. Of course, there is some variability: getting into strat at Disney will be tough no matter what.
I guess a MBA could help via OCR. But I don't think you see that transition too much just because the jobs are so different. It would be like going from IB to consulting.
What's it matter? Not something you can change anyway.
DCFwacc - Have you taken any parts of the CFA? What schools are you applying to? Would be interested to know your background and which schools you think you are competitive
Completed all three levels of CFA, charter pending..should be in the next couple of weeks.
I'm applying to Columbia early decision. If that doesn't pan out then I'll pick one or two on a similar level for round 2, but there are very few schools I'm willing to apply to for a variety of reasons. I'd rather pass on the MBA in most cases.
Do I think I'm competitive? Barely. I'm not expecting to get admitted to Columbia but I wanted to give it a shot. I have average stats (3.5 gpa, 710 GMAT) and I'm a white male, and while I think I'm putting together a good overall application, I know it's usually a longshot for guys like me. But I think it's still worth applying.
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