I just came from an MBA admission even and I felt like I was talking to used car salesmen. I need some real advice concerning business school and career retrospectives based off of my experience. Basically would it be in my best interest to pursue investment banking or consulting or am I shit out of luck in both fields.
Background:
School: Regional state school
Major: Economics
GPA: 2.86 (3.33 Major GPA)
GMAT: 740
Work Experience:
1 year and 6 months in mortgage operations at Wells Fargo
1 year as a analyst in global securities operations at BOA - Merrill Lynch
1 year and 5 months experience as a senior financial analyst in corporate finance for BOA.
Philanthropy:
2 years as Board of director (Treasurer) for a 501 (C) that raised thirty thousand dollars for local non-profits
3 years experience volunteering with BOA Volunteers.
Eagle Scout
Softs:
One of 2% of former foster children to graduate college.
Active in philanthropy in undergrad.
What top 20 schools do I have a realistic chance of being accepted into? I know my work experience my first two years out of school isn't great. Also, the GPA is going to be a huge knock to my application.
I'm interested in management consulting post MBA. I was looking at investment banking originally, but realize that it would be a huge uphill climb coming from the back/middle office of a bank.
Schools I'm looking at (I'm from the south east region)
Emory
Vanderbilt
Virginia
Duke
Georgetown
Rice
Southern Methodist University (Adcom stated smu places well in investment banking in Dallas- I don't know how accurate this is)
Typed on my phone I apologize in advance for the spelling errors
I'm guessing you have a pretty good shot at some of those schools if you execute your application well.
More than commenting on your chance at schools (others will have better insight) I just wanted to point out that I'm pretty sure back and middle office IB work will not put you at a disadvantage for post-MBA IB recruiting....in fact, could help you frame a story solidly
I thought it would be easier to get into strategy or operation consulting based off my operations analyst and corporate finace experience. Also, looking at the above schools, it looks as if they place well outside MBB for consulting. The schools finance placement is very vague.
I'd also consider Wake Forest & UNC Kenan Flagler. If you're interested in TX IB, look at McCombs.
@"Betsy Massar" will have some good thoughts as well
thanks @"thebrofessor", you are always giving me great shout outs. I'm only going to comment on the OP's worry that he wouldn't be looked at by investment banking recruiters. WHY NOT? Let's think about this: the OP has an interest in and experience in financial institutions. OP knows different functions, and is fluent in some of the language of finance even before going to business school. So what if OP started in middle office -- operations is a clear functional part of the business, and there are possibilities to lead within such a group. But wait, there's more! OP was a corp fin analyst at BoA. What am I missing?
Also, there are plenty of jobs and recruiters in investment banking. In fact, with the PR problems with Wall Street firms and MBA students all wanting to go into product management at Amazon, investment banks worry that they are not getting the best and the brightest. So if you show interest and have some experience and exposure, why on earth not go in that direction ?
"One of 2% of former foster children to graduate college. Active in philanthropy in undergrad."
...and there's your golden ticket.
I'm sorry to be cynical but admissions officers are among the most politically correct people you can find, and if you can spin your foster children story and desire to help others story you'll get admitted.
A former colleague told me how his grades in high school sucked but that he was disadvantaged and what not, and would take the bus for an hour and a half to go to a better school etc. etc. ... he applied to U of Michigan ann arbor and ended up getting in on account of his sob-story.
Hmm I was hoping the foster child thing would just be a soft, because it's somewhat unique. I wasn't planning to use it in the essay's.
i'd give kellogg a shot. its a pretty big reach but they tend to take a more holistic approach to admissions than the rest of the m7 and they may go for the 740 GMAT and foster child story
Take some quantitative courses at a community college or Berkeley extension and get A's. That should offset your GPA. To be honest, I think you have a shot at M7, but someone correct me if I'm wrong. Great GMAT, great work experience (name brand companies), good extracurriculars, and the foster thing is definitely icing on the cake.
Would it be worth applying to Cornell or Tuck? I know Tuck isn't in the M7, but it's considered a top school.
I think Tuck would want to see a top undergraduate school however, especially with the low GPA.
Thank you for your insight!
id probably apply to 6 schools. 2 big reaches, 2 semi reaches, and 2 matches.
kellogg, tuck - big reach ross, johnson, fuqua, darden - semi reach (ross has a high acceptance rate for this tier) emory, georgetown, vanderbilt, unc - match
Thanks, I like the advice. I think my course of actions is going to be :
Big reach: ED Tuck, apply to Kellog Semi Reach: Johnson, Ross, UVA Match- Georgetown, Emory
I think you can also apply for 1-2 lower M7 / higher top10. Not everyone needs help but in your case I recommend using MBA consultant. But you need to find someone really know how to frame your story.
If I were you, I would try to connect foster child story with Philanthropy experience to make it natural. Or you can use that to explain your GPA. It may sound weird but your unfortunate early life becomes your biggest asset in bschool app. Try to think like politician in the thought process - how do i maximize my chance by using various stories?
Thank you for your advice everyone
Dude...I think you're seriously undershooting your targets. Go for M7! Your low GPA will be more than offset by your high GMAT. Also, don't do extra courses just so you can show adcom you can get good marks. wtf is that? Find something better to do with your time and $$$.
Just make sure you have a bullet proof application, and know how the school you're applying to will help you get your post-MBA goals. With that, you should easily get interviews, then you can show adcom how much of a cool, down to earth guy you are!
Youre welcome!
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