Going from a credit analyst with a regional southeastern bank to a top MBA
I’m currently a 2nd year credit analyst with a regional bank in the southeast. I graduated from a state school in the south with an average gpa and I’ve gradually been working my way up. I’ve gone from temp accountant, to an analyst in a community bank’s credit training program and currently a credit analyst with a regional middle market bank in the southeast. I’m currently getting exposure to EV models, syndicated loan underwriting and underwriting related to management buyouts and private equity sponsored deals. It’s my goal to get into a top MBA program and use that as an opportunity to get an associate position with an investment bank.
I’m interested in either New York or Los Angeles but I’m curious to whether I’ll even have a fighting chance. It seems like many of these opportunities are reserved for those with top undergraduate degrees and prior experience in consulting and investment banking. Knowledge wise I’m not worried but I am competing with their pedigree and even for me that’s a tough fight. How much of a chance do I have of being admitted to a top MBA program? Which programs should I target? Also, should I apply for a few upcoming investment banking and corporate banking analyst positions to see what happens before pursuing an MBA?
Before i reply, can you tell me what "an average GPA" is in your mind? What was your major? Did or do you have any leadership experiences? Any experience or background to distinguish you from other analysts?
I had a 3.2 so I probably should’ve said well below average compared to the competition. I was extremely unprepared so I had no internships while in college. Once I realized how the recruitment process works it was too late. I was however in a few accounting and finance student organizations.
Also, my major was business administration with a minor in both accounting and finance.
Dollarbill,
Given the information you provided I see several obstacles to your acceptance at a top MBA program:
To improve your chances at an MBA program that will lead to an IB position post-MBA, I recommend the following:
You may be interested in Accepted's free guide, Prep for B-School: A 4-year Guide .
Keep in mind that many 'top MBA' programs offer a variety of formats to get the same MBA degree. Be open to something other than the traditional 2 year MBA program. We've worked with a number of clients whose stats (school, gpa and gmat) were below the averages for Kellogg but they were accepted into the Kellogg 1Y program. (I suspect that you would be eligible for this program since you have a business degree from undergrad.)
There are also many flexible part-time programs. While you may not make the direct move to your dream job, you could continue to work while attending a top MBA program on alternate weekends or once a month. Once you complete your degree, you could make a transition in a new direction.
Keep in mind that admissions committees grant a bit of leeway for part-time students with respect to some of the stats and 'outside activities' that they value very highly for their 2 year full-time programs. UCLA's FEMBA program comes to mind.
Coming from a regional bank in the South may be a differentiator as you compete against applicants who have all been chasing the same dream in NYC.
Wishing you the best on your MBA application journey. Susan
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