MBA or MS or BA even worth it?

I have BS in Exercise Science that is doing me nothing in my current profession (lolretail banking). I'm questioning if going back for a more relative or advanced degree is going to be NEEDED taking into consideration it will NOT be from a target school; in order to break into IB/PE/HF or even a boutique with potential. I also currently live near Denver, CO and I am coming to realize that my market segment is terrible for finance positions. Would it be worth getting a Finance BS and then trying to intern-> for a FT position? Also, given my work experience (7+ yrs) and age(26) is this even feasable to break into finance?

 
Best Response

Ok

1) By retail I am sure you mean commercial. What have you done in commercial. Are you a branch manager? Are you on the credit side? Are you doing sales? Each has relevant skills and can add to any advice given.

2) Go the MBA route. You have way too much work experience to do another UG. I think a 1 year masters wont help and you are really looking to change careers. A solid MBA with a couple good internships and you could break into a boutique. Start looking at the GMAT, rec's, etc. I am sure with a decent GMAT you can be competitive at a T10-20 school if not better.

 

Thanks for the quick reply- I have managed branches, but i am currently in a sales segment. The reason I am interested in a switch is solely income potential and long term career opportunities. I have been advised from several previous co-workers that unless I go to a top MBA program (which would have to be out of state) that really anywhere else is looked at the same. So, that's why I had brought up a Finance UG + where I work will reimburse the cost partially for any schooling and it would be an easy transition into the MBA program at the Univ. of Colorado. Unfortunately, their Biz school has dropped 30+ places in the past decade. Is an MBA even needed if I can network and tell a story though?

Thanks in advance-

 

I also think MBA route suits you since you already have so much experience. As for the cost of MBA, it varies from place to place. The best idea is that your employer can sponsor your MBA studying. I met a lot of friends who are sponsored by their companies. Alternatively, you can go to Asia to study MBA, such as http://www.businessbecause.com/nanyang-business-school.htm. It is ranked 27th by FT in the world. It would be a good choice to get a MBA. If you want to know more about MBA, please visit http://www.businessbecause.com/.

 

PM me when you get a chance.

I agree and disagree with the MBA statement. I think obviously a top 10 MBA would be ideal, but if you went to Vandy, UT Austin, Rice, USC, Indiana, whatever, a T10-25 school you could easily break into something else. Maybe not IB, but you could be a VP level person at a F500 company. You might be able to go back to your bank or another bank in a higher level position. You could also break into a boutique or middle market firm.

Other option, since you have sales experience is to try and get into institutional sales. This might require more schooling and a BB rotational program is going to be a stretch, but you could probably find a local player, something regional and come in as an assistant. Since you have a sales background I dont think it would be hard for you to shine and then progress up the ladder to full sales person.

1st step should be to take the GMAT. You have leadership experience and a wide variety of roles with your company. With good rec's, some solid EC's and a good GMAT I could see you being competitive at a bunch of schools. I mean you do have 7 years work experience and being a branch manager, while being shit on here, is still a role which requires a lot of responsibility, leadership and effort.

 

IMO... get an MBA, use your "leadership experience" and exposure to other industries to shape your "why banking" story and go the "career switcher" route into finance from b-school

its cookie cutter, thousands do it every year, you're not blazing any new paths here so just follow the trail and you'll be fine

 

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