MSF then work then MBA then IB?
Hey guys,
Before I go into detail (there's a ton of detail in this post), I'm basically asking if I can break into IB with the 3 possible plans. It's really one plan that forks into whether I get into MIT's MFin program (I wish), an MSF program, or an MS in Applied Economics program.
-> The Background:
I'm an undergraduate at the Florida State University. I'm graduating this summer (2016) with the following:
1. B.S. Economics
- Minor in Math
- Honors in the Major
2. B.S. Political Science
- Minor in Business
- Research Intensive Bachelor's Certificate
3. Magna Cum Laude
- Overall GPA: 3.8
- Upperclassman GPA: 3.99
4. Garnet & Gold Scholar
The only internship I have is an academic one in which I was a research intern with a professor in the Political Science department. My other work experiences are fast food and tutoring.
I didn't apply for a summer internship because I was under the impression that I was going to continue pursing pre-med. However, after taking some classes this spring (2016) semester I realized this isn't for me. Although I'm making A's in all of my classes, I'm genuinely not interested in the material.
So I've missed all of the deadlines for summer internships, I missed the deadlines to apply for Master's in Finance or Master's in Applied Economic programs, and I haven't even studied for the GRE or GMAT. Looking forward, however, there's a way to get on track.
-> The Plan, before the fork in the road:
Florida State offers a SAS certificate program. Why is this relevant? I figured that I can't immediately break into IB, and possibly not at all. I need to hedge my risks of not breaking IB. I considered other careers that are of potential interests in case I don't break IB. One of which is economic consulting. The economic consulting firms I'm interested in require SAS experience.
In case people don't know, Florida State University is in Tallahassee, FL. There are jobs in Tallahassee that will pay up to 2 courses a semester. So I'm applying to these "OPS" jobs, and assuming I land a job by August, I'll be able to get the SAS certificate without having to pay for the courses. Even if I don't get the job though, it only costs $3,600 altogether.
Okay, so the plan below is broken up by semester:
Summer 2016:
1. Finish undergrad
2. Study GRE
3. Apply for OPS jobs in Tallahassee
4. Accept OPS offers
Fall 2016:
1. Work in OPS job
2. Take first 2 SAS courses
3. Study GRE
4. Take GRE in October or November
5. Apply to the following programs
- MIT, MFin
* If I got into MIT, it would be a dream come true
- UT Austin, MSF
- Vanderbilt, MSF
- USC, MSF
- WSU St. Louis, MSCF (basically the same as an MSF)
- Villanova, MSF
- Arizona State University, MSF
- Florida State University, MS Applied Economics
- Essentially all of the master's in economic programs I've looked into offer no funding, and seem to be more of a stepping stone for those who want a PhD. However, Florida State's master's program offers funding and essentially has a 100% placement rate, with people becoming economic analysts or economic consultants. The MS Applied Economics starts in the fall semester
- The MSF programs I've included all offer merit-based scholarships and/or fellowships, and claim that graduates have placed in the investment banking industry (probably boutique). The MSF programs and MIT's MFin starts in the summer semester
Spring 2017:
1. Work in OPS job
2. Take last 2 SAS courses
* receive SAS certificate
3. Accept offer from graduate schools
- Contingency 1: if get into MFin or MSF program, don't apply for summer internships
- Contingency 2: if only get into FSU's MS Applied Economics, apply for summer internships
Summer 2017 (depends)
contingency 1: Start MFin or MSF program
contingency 2: Intern somewhere, or even keep working in the OPS job.
--> Option 1: MIT
Assume I'm able to score super high on the GRE. Perhaps it'll persuade the admissions committee to overlook the fact that I did my undergraduate at Florida State University.
So now I'm in the MIT program. I'll do the 18 moth pilot, which allows students to do an internship over the summer. That summer off I'll do an internship with an IB and then after graduating break into IB.
If I can't break into IB, I'll try Boutique > Equity > Management Consulting > Economic Consulting. After working a couple of years in my lower preference industries, I'll try going to an M7 MBA program and then attempt to break into IB once more.
--> Option 2: MSF program
Assume I get full funding to one of the MSF programs. I'll enroll there and prior to graduating, I'll apply for jobs (in order of preference)
1. IB
2. Boutique
3. Equity
4. Management Consulting
5. Economic Consulting
If I get an IB job immediately, great.
If not, I'll work in one of the other 4 industries. In those couple of years of working, I'll study hard for the GMAT, try to score near perfect, and apply to M7 MBA programs. Then I'll try to break into IB once more.
--> Option 3: MS Applied Economics program
This is my worst case scenario. I'll graduate with an MS in Applied Economics, apply for IB > Boutique > Equity > Management Consulting > Economic Consulting. I'll probably only be able to get a job in economic consulting.
So I'll work for a couple of years doing economic consulting, study for the GMAT, and then attempt to enroll in an M7 MBA program, and then try to break into IB.
It is a ton of detail. I appreciate anyone who takes the time to read it and give me feedback.
have you concidered doing an off cycle internship etc? fall analyst internship for 6 months and then try hard to get into MITs Mfin next year.
You should look at UCal Berkely MFin with your math background, Princeton too.
Just in terms of work experience, a top economic consulting firm can get you into an M7 MBA program. Analysts can get exposure to and work with/for M7 b-school professors. I've read that analysts can get recommendations from the professors, and that those relationships are a huge plus for b-school apps. I've seen many LinkedIn profiles of people who went from undergrad to economic consulting to M7 b-school.
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