Q&A: Columbia MBA Admit

My background

This time last year I was studying for GMAT while putting very long hours at my Big4 job in NYC and luckily was able to pass the exam by the end of summer. I know some of you guys are currently in my shoes trying to pass the exam, determine which business schools you want to apply to, and evaluate your stats and fit at your dream schools. I left my job last week and will leave the US in a few weeks to travel internationally before b-school starts. Since I have some free time now, I wanted to do this Q&A to answer any questions you may have on any part of the application process to top MBA programs. Ask any questions in the comments and I should be able to respond on the same day or within a day.

Quick Stats About Me

Gender / Age / Race: White Male, 25 y.o. Nationality: Tajikistan (tiny country in Central Asia) Undergrad / GPA: University of Evansville (Accounting and Business Mgmt Major), 3.9 GMAT Score: 730 (q50, v38; awa 6; ir 8) Work Experience: 4 years at PwC in NYC, Risk Assurance Practice Target Career: Hedge Fund or Investment Banking Since leaving my job last week I also created a business related YouTube channel, in which I have one MBA video on How I Got into Columbia (more MBA related videos in the works now).

 
Most Helpful

GMAT was the most complicated part out of whole application process for me, but never thought about leaving my plan of pursuing an MBA.

What motivated me to push forward was the fact that I wanted to switch my career. I realized that the longer I stay at my current job, the more time I will waste. I will graduate at 27 and get a job I want, but if I didn’t get accepted this year I would get the same job as a 28 or 29. That’s why I wanted to make sure to give myself the best chance to get admitted this year since extra years of experience now wouldn’t add any value in my future career.

 

If I had to guess, I would say they are important and admission officers look for the following few items in them:

1) Was a recommendation personalized (better) or generic (worse)? 2) Specific leadership examples from the point of few of supervisors. 3) Do the recs tell the same story about you as you did in your personal essays and application? 4) Who the recs come from?

None of the schools report how exactly they evaluate recommendation letters, but I made sure to discuss the above points with my recommenders for them to be aware of how to help me get admitted. Probably only having good recs won’t help you get into a school, but a bad rec could get you dinged if other people had better recs.

 

Great question, applied to 4 schools but personalized my apps only for 2. Here are the schools I applied to and some details:

  1. Columbia - Admit.
  2. Wharton-Lauder Program - Dinged after interview. Spent a lot of time on this app and thought I had a good chance and interviews went well. Not sure what happened in the end.
  3. Harvard - Dinged without interview. Copied essays from Columbia and Wharton to complete this app, didn’t personalize but applied just for a chance.
  4. Stanford - Dinged without interview. Completed my whole application within 3 hours, applied just in case if I don’t get in any east coast schools. I want to stay in NYC so preferred to develop network in NYC, and Stanford was the only school I would’ve gone to in the US if I didn’t get into any of the other 3 above.
 

Sorry, don't want to seem like a jerk, but this "I want to stay in NYC/[or insert any city]" to "develop network in NYC/[or insert any city]" has been told time & time again, and this always sounds like a BS argument. After all, the MBA business schools">M7 MBA Programs have national influence & reach, in terms of employment outcomes. This geography argument is irrelevant in this context; especially given the weigh given to the school's perceived prestige by some selective industries. If by that you meant that an MBA student would go to Columbia/Stern VS Wharton, for instance, "for NYC", then this is definitely bs. Sorry for the negativity, folks. And congrats on the Columbia admit, especially considering your underrepresented nationality; good job! (really!)

 

Thanks for the questions. Some criteria I had for schools was as following:

  1. Top brand name of business school and its parent university both in the US and internationally.
  2. East coast location preferred.
  3. Strong in Finance (IB, AM, HF).

Based on these, I got to 5 b-schools I was interested in: Columbia, Wharton, Harvard, MIT, and Stanford. I visited all 4 east coast schools and didn’t see myself fitting in with MIT crowd, so decided not to apply. So ended up applying to 4.

In terms of work experience the schools look for, I believe it’s 4-6 average but with some exceptions with fewer years or more. IBankers and consultants are probable more preferred, but you will encounter quite a diverse admit pool that it’s really hard to tell if the admissions actually prefers any one industry. They try to build a classroom with people from different backgrounds, but the high number of consultants and ibankers could be due to high percentage of them applying for MBA (compared to folks from other industries).

 

If you don't mind me asking, did they give you a significant amount of scholarships? Are you taking on loans, and if so how much? The price tag for an MBA is insane these days, and I can rarely ever make sense of how people make the decision to take on six figure debt.

 

Totally cool to ask. I didn’t get any scholarships so will be taking out a loan for a full tuition amount. I bought a house a few months back here so spent all my savings, so that’s the only choice I got now lol.

MBA is definitely expensive but with my career choices I can triple and quadruple my current big4 salary when I graduate, so it is definitely worth it for me despite the heavy price tag.

 

Are there a lot of other applicants that you know of that worked in Assurance (especially PwC but the rest of the Big 4 too)? I understand your wanting to pivot out of assurance (as it is a complete hellhole and mindnumbingly boring), congratulations on sticking it out for so long.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.
 

Don’t know many applicants from assurance, a lot of management consulting folks from Big4 apply and get admitted. For assurance and tax, I heard that people mostly get into lower ranked top 15 or top 20 schools, not too common to break into Top10 or MBA business schools">M7.

And thanks for the congrats, 4 years in assurance were definitely long. In retrospect, it’s such a short period of time when I think that I still have ~40 years of work and career ahead of me after MBA.

 

Hey Rob, first off. Congrats on your acceptance!

Just was curious if you tried to lateral from your Big 4 to any BB's, EB's, etc.. or you just went straight for the MBA to try and re-brand yourself?

Only reason I ask is because I know sometimes going from the BIG4 to IB has happened and if that was your thought process, could you enlighten us as to why you went for the MBA? Did you try lateraling, etc..

Thanks!

 

Thank you! I tried early in my career to switch into a Hedge Fund industry but found it to be impossible because I didn't go to the right school / didn't have strong enough connections.

Since I am living in NYC and went to a small school that only has a few alumni here, I always knew that I needed to get an MBA to build the network and improve my credentials for the future, so didn't push for IB jobs knowing I would go back to school shortly anyway. Hedge Fund jobs will be harder to get even after MBA but securing an IB job will be a seamless process.

From your username, it sounds like you went to a non-target and pursuing IB. Are you planning to do your MBA or thinking to stay in IB for as long as your get promoted?

 

Ah I see, so HF is the long-term goal for you it would appear. Makes sense now as to why you pursued your MBA.

I actually landed an offer at a BB in NYC so I won't need to get an MBA just yet however, if I wanted to get into PE down the road I might need to go back unless I target MM or LMM funds where it isn't a requirement to have such a degree.

All the best with Columbia and hope it pans out as you want it to!

Cheers

 

Here are some suggestions based on what worked for me:

  1. Plan to intensively spend 3 months on GMAT.
  2. Take a free practice test that comes with your GMAT registration and see where you stand in terms of your score. The exam questions are similar to the actual exam and the score you get is typically the same as you would get in your actual test. Learn your strengths and weaknesses from your practice test.
  3. Buy all ManhattanGMAT prep books and all Official GMAT guides. Study topics in ManhattanGMAT (great for learning strategy and formulas) and solve all questions in Official GMAT guides (similar questions to the actual exam).
  4. Take online tests that come with ManhattanGMAT or from the GMAT company itself once every week or two weeks to see your progress or your weak topics that you should address.
 

I just took the GMAT and disagree with your advice on number 2. and 4.

  1. Unless you're already really good at solving GMAT math (which is very few people) then I wouldn't waste a full GMAT practice test without studying. What's the point of seeing your standing if you know you haven't studied at all.

4 . Similarly, I don't think it's a good idea to take practice tests once or twice every week unless you've completed your studying (or are very close to completing studying).

I found the best approach has 3 stages: Part one: Study math only for a couple weeks since you actually need to learn things and there's a ton of topics Part two: Slow down on math and add in verbal studying (especially sentence correction since you actually need to learn things here as well) Part three: Practice Test Phase - After you've completed all of the math studying and most of your verbal studying, now it's reasonable to start taking practice tests. The point of the practice tests is to see how you might perform on the real GMAT under real exam conditions. Since you've already done most of your studying by now, these practice tests will be way more useful and will allow you to pin point areas of improvement.

Don't waste Official practice tests early on in your studying. They are used for simulating exams and if you haven't studied much then it's not a good simulation.

 

Thank you! I left as a first year senior (would've gotten promoted to Senior 2 in July). PwC promotes to a Senior in 3 years unlike other firms, that's why have 4 years experience.

Are you not working for a big4 anymore? I think many people say that you need to hit at least a Manager position to get into good MBA programs, which could be the case and may help even more with b-schools. As a manager, you get experience with managing teams, budgets, timelines, etc., which definitely sets you apart from other applicants who have not done that. But there is also a point when you could have too much experience for a regular MBA when it makes more sense to pursue an Executive MBA program.

 

Where in Central Asia have you been to? I have a mix of Russian in me so I don’t look like a Central Asian at all and report myself as Caucasian. Can’t report myself as Asian or anything else.

 

Hello Rob ! Firstly, a huge congrats for joining one of the MBA business schools">M7 for your MBA ! Actually I wanted to know your perspective on my case. I would be finishing up my MBA from a Top 20-25 ranked IIM in India (which I joined straight out of undergrad as a fresher). I actually wanted to do a second MBA from an MBA business schools">M7 in the US, not only to settle abroad (after 4-5 years of work ex in India, of course) but also to study from a ranked B- School that gives you those fresh perspectives and growth opportunities which my current college is not able to provide.

So what's your take on this ? Would it be possible for me to do a second MBA from the elite B-Schools ?

 

Hey, thanks for the congrats! And yes, after a few years of work experience you could get admitted to top MBA programs to re-brand yourself. I've met a few people who got admitted at Columbia and Wharton who've already had an MBA, but it wasn't from prestigious schools at all. Admission officers from top schools must definitely realize that their MBA offers completely different things than lower tier programs, so they accept qualified people who already have MBAs.

The only time it doesn't make sense to go for a second MBA is if you already have a reasonably good MBA degree. For example, if you have an MBA from Cornell or UT Austin, you most likely won't get into Harvard or Wharton for a second MBA regardless of how much you may want to have those names on your resume.

 

This is my next move. I'm approaching 30 and looking to jack up my earnings - also want to get married and start a family and simply cannot on my current package. Just left my job (Junior Corporate Finance) to focus on the GMAT and apply for an overseas stint in Europe (Denmark/Norway/Netherlands). Does anyone (including yourself Rob) have an idea about which course one could take to making the move to another country and doing the MBA from there?

Corp. Fin. Analyst currently working two finance jobs (and a teaching gig and trying to save my music production solo career). I love avocado's. And yes Cape Town is the most beautiful place in the world. Don't believe me, come thru and find out.
 

Hey Rob, yes I want to do my MBA there. I currently live in South Africa and want to go do my MBA in Europe. What is the process like in acheiveing that, do you have an idea?

Corp. Fin. Analyst currently working two finance jobs (and a teaching gig and trying to save my music production solo career). I love avocado's. And yes Cape Town is the most beautiful place in the world. Don't believe me, come thru and find out.
 

How have other international students without guarantors funded their programs?

Big hurdle for me is the huge costs involved - don’t have too much saved up and seems like would require at least 200k loan in funding (with high interest rates too)

 

Impedit voluptas vero voluptatem repudiandae sed. Ut quo corporis sint sunt dignissimos. Ullam sapiente corporis aut dolor molestiae est corporis. Id ut voluptatem dolorem vitae esse repudiandae praesentium quo. Officiis neque explicabo sed aperiam optio aut fugit quo. Sit alias quis optio deleniti aliquam ad. Ut aut excepturi omnis saepe aut iusto. Eligendi corporis beatae nisi impedit inventore.

Quo repellat ipsa recusandae recusandae nesciunt veniam quia omnis. Consequatur minus consectetur ut quo aut et odio. Voluptatem dolor quis non quo.

Deleniti natus rerum ullam molestiae sed. Natus architecto maiores numquam omnis et. Et dignissimos impedit tenetur reiciendis distinctio. Facere consequatur tempore est et.

Array
 

Ad maxime possimus voluptatem fugit enim sapiente quidem enim. Excepturi possimus doloribus velit expedita in. Ullam blanditiis tempore vero eligendi.

Rem occaecati aut inventore eos ut. Autem dolores rerum porro veniam tenetur accusantium aut. Voluptatem vitae ea rerum exercitationem. Ut magni consequatur inventore.

Ab et debitis facere placeat. Laborum culpa odio blanditiis. In delectus sapiente non perspiciatis et odit est. Rem delectus unde et sed error aut.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”