Hi everybody,
this is my first post here, so bear with me if I do something wrong.
My profile: 25 years old, 3 years risk analyst, from Eastern Europe, masters degree in business administration (double major: finance, technology management), GPA: 3.9, CFA L2 candidate, started investing at the age of 15.
Comming from Eastern Europe nobody even thinks about reading your CV. More or less... That is why I have been thinking about MBA or MiF at LBS (provided I get accepted). Which program would be better to break into Asset Management, hedge funds, PE? At LBS they say that MiF is better, since it is focused on finance. But several years of employment stats suggest that MBA would be better. If I am not mistaken, nobody from MiF found a position in HF and PE in recent years. I would prefer doing MiF, since it is more finance focused, but would I even have any chance breaking into HF and PE with MiF?
I looked at both programs at LBS. Got into LBS MIF but turned it down after researching career placement and talking to career services. The MIF there is mostly marketing hype; they boast that it's the #1 finance program for experienced professionals, but that's misleading since they're not lumping in the top U.S. programs or even Oxford and LSE in that ranking since those cater more to younger professionals. Given that the quantitative skills needed to get into and do well in the program isn't too high, they can't compete with the top MFin or MFE programs and also lose out to MBAs for buyside jobs because LBS does not have separate recruiting channels for MFins. And financial firms almost always prefer the MBAs since it's more prestigious and selective than MIF.
The job placement and median salary is pretty bad. Very few are getting decent buyside gigs, and even sellside is rough. I talked to several of their career service people and was deeply disappointed at how bad the placement and recruiting are.
If you want to break into HF or AM, go to a top MBA program. It's by far the best path.
Thank you for this, appreciate it. Did you latter do an MBA at LBS or MIF at some other school?
I would also like to ask you what is your opinion on IE? I like their double degree (Masters in Advanced Finance and International MBA). I know that IE is a rank lower that LBS but it’s a double degree. Would their double degree mean anything? Or would it be better just to go for an MBA at one of top tier schools?
I'm currently at an M7 MBA program. I did not apply to LBS MBA, mainly because I ran out of time after doing like 6 MBA applications.
IE is not a respected school. Hate to be blunt or sound elitist, but it's not the school that will open doors to the buyside. Yes, its double degree program sounds "sexy," and I'm sure they offer some interesting courses, but coursework doesn't matter too much in b-school. What matters is the prestige, perception by employers, network, recruiting access. And IE Is very weak in all those areas.
I work every day for 10-12 hours, go home and study for the CFA. Since CFA exam is only in June, I have plenty of time to do other things. I plan on doing CAIA and maybe even FRM. This is why its hard to find any time for GMAT and comparing the materials among these options I can say that GMAT is the least appealing. But there is no other way than to do it, if I want to get into one of these programs.
Thank you for all the help. I see you are really well informed about these topics. If I have any other question, I will maybe ask you in the future.
Life is all about time management and priorities. Which do you value more? If the answer is collecting designations, then study your heart out. I decided that focusing on GMAT, extracurriculars, MBA applications, was a more valuable time and focused on those. Of course if you can do CFA, CAIA, FRM, and kick ass on the GMAT, then more power to you.
In my opinion though, (many on wso will disagree), the CFA is overrated IF you want to use it to break into the buyside.
I thought that my path is pretty much decided. But after reading your arguments, which by the way are simply great, I am having second thoughts. I am already reading all the materials of M7 schools and I like what I see. It will take some time to think this through and getting to know these schools and their admission process/criteria. Now I’m hoping for a good gmat score and maybe for some advantage, since I am a foreigner. Another challenge will be getting a letter of recommendation from current direct supervisors. Nobody in the company would like to see me leave. Fingers crossed to get over all these challenges.
I had the same problem recently. I sent my CV to MiF recruiters and sent me an email saying that I should apply immediately. It sounded quite desperate to me… as if they had no applicants… even if they told me that only 30% of CV senders receive the email advising to apply…
Do you guys think that LBS MBA is better than Booth / Columbia / NYU if I want a HF/AM (fidelity, BlackRock…) career in London?
Thanks in advance.
LBS MBA vs NYU is a toss-up; probably a slight edge to LBS.
Against Booth and Columbia, LBS can't even stand a chance. Those schools utterly PWN LBS in all areas of finance and location, including London. Put it this way. Pretty much every finance person at LBS would rather be at HSW+Columbia+Booth but were unable to get in. The caliber of students, prestige, network, and recruiting access, are on a different level.
Hello everybody,
I like the posts of this thread. Many thanks.
Maybe you can give me some feedback on related questions to the above:
1) I understand you recommend doing a top-tier MBA instead of LBS's MiF for getting into AM, HF, PE. Would you maintain this recommendation for the career goal of buyside Equity Research / Port.Mgt.?
2) I'm considering only one-year programs. Only M7 with a one-year MBA is Kellogg. For sure a great school, but maybe not so stron in finance I guess. Does Kellogg make sense for candidates who want to work in finance (more specifically, equity research/PM) post-graduation?
3) Given my aforementioned career goals, what do you think about getting an MBA from INSEAD?
4) Lastly: I'm 32 years old. Is that too old for getting a one year MBA and then trying to get into Equity Research / PM?
Aganin many thanks!
A lot of wrong information here. It's going to be an uphill battle without prior (relevant) PE / HF experience, regardless of whether you come from LBS or M7. If you want to work in EMEA, it's total bullshit that 'every' M7 trumps LBS. This mbavsmfin guy is obsessed with M7 - take his advice with a grain of salt, particularly statements such as "every LBS student wishes he were at Booth / Columbia".
Would be interested in hearing experiences of getting internships while at LBS?
Personally i think that's the bests way to use the MBA as a jump to something better, i.e., leverage the MBA / LBS name to get some time at a places with a strong name and take that elsewhere if necessary.
Main point i've noticed with LBS, is that most LDN banks don't have associate MBA programmes, let alone funds. That said, BX seem like the LBS brand.
mbavsmfin you are factually incorrect in so many ways..... (1) LBS is really strong for finance in europe and asia .... I work with one of the largest PE funds and apart from Sloan and Wharton we recruit exclusively from LBS. LBS is in the same leagues as M7 outside of US (2) MiF is equally strong for conventional profiles..... the average salaries are lower as a good number of MiFs go to central banks and government agencies...For BB IB and AM profiles MiFs get the same salary ..... I think your understanding is limited by that fact that you study in a part time MBA of an M7 ..... I think your understanding of M7 is not appropriate because you study in a part time program in M7..... you will never understand what is full-time recruiting.
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