I am coming up to the end of my analyst program and I am saying fuck B School. I got a 3.2 UG so I can't go HBS or anything. Fuck it. I've built I life here in NYC and I vowed I would never go back to school. Here's to direct promotion. Here's to never ending the grind. Here's to 4 more years of monkeyism. Here's to retiring at age 30. Fuck B school.
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Seriously, going back to school and incurring a shitload of debt and wasting time should not be the automatic solution to, "Well, analyst stint is over. What do I do next?"
I totally agree that if you have any desire to retire early/build up your net worth as fast as possible, going to b-school is REALLY going to slow you down.
Conversely, in my mind, b-school for someone who's coming out of an analyst program at a top I-bank only makes sense to change career fields entirely. If you wants to move to a top strategy consulting firm, for example, b-school definitely makes sense.
Otherwise, why? If private equity is the next step, the best possible next move is to be an analyst or associate or whatever the title is at a private equity shop. Then, perhaps, b-school is the right step, as there certainly are private equity shops in which having an MBA is absolutely required to move up. (This definitely varies; look at the team lists at various shops you'd want to work at. If a shop's associates all worked at bulge-bracket firms without an MBA but all of the VPs and/or Principals have MBAs, that says something. If several or most of the VPs/Principals lack MBAs and clearly worked their way up from the associate position, that says something else. If some (or most or all) associates have MBAs--i.e., there are no "pre-MBA" positions of any kind--that says something else entirely.)
Again, everyone else wants to do what we do. Unlike private equity, I am aware of no firm in which having an MBA is a de facto or de jure prerequisite for moving up (except, possibly, if you think you want to become a CEO of a bulge-bracket firm someday, but you might as well wish for the moon as well). If as an analyst you like (or can tolerate) your job and your career field, if there are opportunities for promotion, I'd go for it.
But surprisingly, I find that relatively few people in my school actually want to go into banking.
i am goin for it. F b-school.
Fuck B-School. I hated my undergraduate experience. The thought of having to learn in a class room environment again makes me cringe. I've busted my ass as an analyst and now an associate at a regional boutique...and if I can get in the door at the bulge level as a 3rd year analyst or 1st year associate...I'm going to strive to climb the ladder without an MBA. I'm not suggesting that an MBA is a waste of time...EVERYONE, regardless of their talents and analytical capabilities, would benefit from attending a top program. However, it makes no sense to me to get out of the game for two years...only to have to fight your way back in again. And it certainly doesn't make sense from a monetary perspective. As a value proposition the MBA is a total waste of time.
I think an MBA is perfect for someone who needs to rely on the "brand" value of their education to garner respect from their peers and superiors. Fuck that...I rely on my intellect and talents to gain respect...and they haven't let me down yet.
As a final comment, from time to time I do meet senior bankers/MDs who look down upon those without MBAs. I say Fuck Them! Most of them are far from rainmakers...simply average producers who are completely caught up in the MBA cliche. I would never work for an MD with that mentality.
The guys I work with are sharks. Producers. Intelligent and grounded. They want problem solvers. They would hire a state college kid over a harvard kid any day of the week if the former possessed the right mentality, hunger, ambition, and intellect.
SF
Can you tell me how to get hired coming out of the military if I'd rather not go to MBA school?
If so, lemme know.
If you have the GI Bill you should use it in my opinion. Vets have a great acceptance rate at the Top B-schools.
This was over 15 years ago. Did you make MD now?
I did an undergrad degree in business and after looking at the courses that are necessary for an MBA, its pretty apparent that I would essentially be redoing my undergrad, albeit it at a supposed higher level. Totally useless. I don't need to redo financial accounting or basic finance.
Fuck BSchool
Yeah, I'm already majoring in business administration, what redo it again?
i agree with you guys -- if you're destined to be a BFL (Banker for Life), and you can get promoted without an MBA, you are saving yourself a lot of $$. On the other hand, having an MBA makes it easier to switch industries further down the road if you decide ibanking is not what you want to do with your entire life. for the MBA you're really paying for the "stamp of approval", flexibility in career choice and contacts. it's expensive, but so is all education.
Why do b-school when you can work in pe doing 5.5x ebitda leveraged recaps on peak earnings?
nt
i think MBA would help a little in getting that promotion later on in your career. I mean how many MDs are there that don't have an MBA?
if you come from the military you are def. going to want to do the MBA. you want to come in as an assoc. you didnt take orders all these years to be bossed around by some IB bastard.
Chicago and possibly Columbia?
Wharton is quant and I presume nerd intensive.
Harvard and Stanford are the gold standard and are strong in all aspects.
I think NYU would be more I-bank analyst types in transition to associate.
"How many MDs are there that don't have an MBA"
And frankly, some might suggest that peers would look down on you if you don't have an MBA at a senior associate/vp level...but it's the other way around. I would be LAUGHING at those WITH an MBA...because I attained the same level of success without having an arguably worthless certification with meritless perceptional value.
There is the "fun" aspect. I know a lot of MBA's who are former bankers who just needed a fuckin break. Kick back, relax, get laid, take a load off. I'm not arguing that the payoff is worth it if all you want to do is continue up the banking ladder, but I'm just saying there are a lot of people who want to relax for a couple of years after 4-5 straight years of banking. If you don't need that and just want to go straight to the top, then go for it.
Fuck B-School
truth
I mean... thats why 'why do you want to go to b school?' is an essay question for any program. If you can accomplish your goals without an MBA, why go, and why should the school waste a slot on you? Yes, if you're happy where you are, and don't need the MBA, why get one? Frankly, a bizarre thread
I wonder how this guy is doing
MBA is not worth it at all IMO, even when considering HBS, CBS, Stanford. It's basically a really expensive ticket to a career change, when you could do the same thing with some elbow grease and networking. screw B school and honestly screw most UG finance programs lol
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