Should you get an MBA before a summer internship?

I am a highschooler and I think I want to go into the private equity business. I have looked at hundreds of videos, read many articles, and have studied the markets closely.

My question is: Should you get an MBA before you enroll in a summer intership at an investment bank like Merrill Lynch, Goldman Sachs, or Bank of America?

Background: I would intend to get an MBA at some point to prepare me for a career in LBOs or Venture Capital, and I have read that a few years in investment banking is always really helpful, whether you decide to go into private equity or decide to go into something like being a CFO.

Comments (37)

Jul 28, 2009

anyone want to take this or should I?

Jul 28, 2009

equityscion- This is a tough one, but I would suggest;

MBA --> Summer Intern --> CFO --> Career in LBO's

Jul 28, 2009

I appreciate your thoughts and you have cleared up that grey area for me. Which is better for a career in LBOs, an internship at an investment banking firm or private equity firm?

Jul 28, 2009
TheBenevolent:

equityscion- This is a tough one, but I would suggest;

MBA --> Summer Intern --> CFO --> Career in LBO's

ROFL

Jul 28, 2009

Ok, I give up. I've spent about 5 min looking at this computer screen trying to make sense of this this f*cking post.

OP, are you on crack?

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Jul 28, 2009

What makes you think I am on crack? I just asked what I thought was a simple question.

Jul 28, 2009

It seems as if you you've strung together a bunch of industry buzz words and put them all in a post, makes no sense. Its OK your in HS, you need to do about 6 more months of research buddy. Here's some advice, this is what I tell every HS'er or underclassmen who wants to get into banking: the only thing you need to worry about are your grades & in your case going to the best target school you can get into (if you are unfamiliar with what that means search for it in the upper right hand corner, or private message anyone on this board), period, end of story. Just having stellar grades wont guarantee a job, but it's the best start. Its basically the only leverage you have as a student. So all this other junk you've got yourself worrying about is fine if your rocking a 3.9 unweighted and smashing your test scores, but if not I'm sure there's some geography & BC calculus that needs some attention.

Jul 28, 2009

I just wrapped up my freshman year with a 4.0 GPA. Could you explain to me where I went wrong in my post?

Jul 28, 2009

Take it back. Here's what I think you should do:

Go get your MBA now, then get your Bachelor's degree, then, and only then, go back and finish HS. You have a 4.0 now, so you should be set in your b-school apps. I know it sounds counter-intuitive, but trust me, that's how all the big players do it.

Jul 28, 2009

Born in 1994 not yesterday.

Jul 28, 2009

^ No offense my man, but what you said really didn't make any sense. LBO's are something you "do", so if PE & IBanking are nouns then LBO's are verbs, those 2 parties execute LBO's. There are arms of banks & PE firms that specialize in LBO's but you really wouldn't tell people " Yeah I'm an LBO'er," really doesn't make a lot of sense ha. There are lots of different roles that involve LBO transactions. Its clear you really don't know what your talking about, totally fine you just need to keep reading. Seriously, go that site I linked for you and don't come back here till you've read every article on there ;)

PS: If your telling the truth, good job on the grades KEEP IT UP! You want to do your undergrad at one of theses schools in Economics, Finance/Accounting, Electrical/Computer/Mechanical/Chemical Engineering (good for VC & PE):
* Harvard
* Princeton
* The Wharton School
* Yale
* Stanford
* Columbia
* Dartmouth
* Cornell
* Duke
* University of Virginia, McIntire

Study what you need to get into these schools foremost if you want to get into IB/PE/working with LBO's.

Jul 28, 2009

I guess maybe I used poor wording or was misunderstood. I am fully aware that LBOs are something you do. I said I was interested in a career in LBOs @ a PE firm. I think Bain Capital specializes in LBOs or at least they did at one time.

I have been to the website and will continue to read articles from it.

I already have 1 year of AP Economics under my belt. I have heard of all of those wonderful schools, and would hope to be so fortunate to get it. Too bad you don't have Brigham Young on that list, because that is where I'll probably end up.

I am applying to this thing called Stanford EPGY which offers an online high school for gifted students. I think it might allow me to focus more on my interests.

Jul 28, 2009
equityscion:

I I have heard of all of those wonderful schools, and would hope to be so fortunate to get it. Too bad you don't have Brigham Young on that list, because that is where I'll probably end up.

Your a freshman, don't count yourself out just yet. Keep the grades up, there are a ton of resources out there that can assist at giving you a better shot of getting into those schools. Is there an International Baccalaureate close to you or respected private high that you can transfer to? That always really helps with top schools, your MD parents should be on board with that, although they may not be able to afford it after Obama gets em.

Jul 28, 2009

I thought 1994 WAS yesterday. Silly me.

Jul 28, 2009

it's like a blumie post but the english is all right

Jul 28, 2009

Blumie? I am just trying to learn and get some insight into the business. I cannot ask my parents because they are both MDs (doctors) and are almost clueless when it comes to finance.

Jul 28, 2009

OP-
As you can see, there are a lot of jackasses in this industry that will even rip into a high school student that is genuinely interested in a finance career. Pretty pathetic, eh?

I'll throw you a line. I think you're going wrong with the sequence of the MBA. You won't apply for an MBA until after you have 2-5 years work experience after you finish your undergrad. Here's the sequence: IB internship summer between junior and senior year year > full time IB after graduation for 2-3 years > 2-3 years at a PE firm > MBA > back into PE or whatever else you want to do.

Hope that helps.

Jul 28, 2009

That looks like what I have been reading for the most part. I'll admit that I have not heard of 2-3 years of IB and 2-3 years of PE and then an MBA. It seems like a long time to be away and then spend money on an MBA.

Jul 28, 2009

FYI equityscion guys on this site are pretty unforgiving. So (from experience) backlash can be avoided by refraining from posting the following:
* Comments or questions that have been discussed, hashed, & re-hashed. If you have a question search it first, if its not there fire away.
* There is such a thing as dumb questions, avoid at all cost (again, personal experience). This is a good thing to be mindful of ESPECIALLY if you want a career in IB, & less kids in college will want to beat the shit out of you.
* Its obvious you have no experience & haven't done enough reading, it doesn't help if you haven't at the very least read everything in your ability on the subject matter. A sound knowledge base can also help one to steer clear of dumb questions.
* Seriously no offense bud, but even if you read every single thing on IB/PE/LBO's whatever, you still don't know anything until you at least have a SA stint (even then....again first hand knowledge).

PS: BYU's accounting program is one of the most respected in the country, Jon Huntsman (strong ties to BYU I think) is one of the most respected and famous alum's from Wharton, the school resides in a building with his namesake.

Jul 28, 2009

Actually the Huntsmans are closely tied to the University of Utah, which is an option of mine. Friendliness towards Mormons is key for me when applying to college. Harvard and Stanford are the only two top-rate schools that I can think of that make certain accommodations for 2-year missions. BYU alums I can think of are Jim Quigley at Deloitte and Gary Crittenden, who just left Citi today and joined Huntsman Gay in SF and SLC. Kevin Rollins, who I think is at TPG in Texas is an alum. Of course Mitt Romney is the most notable alum.

Jul 28, 2009

The only reason people dont disclose that information is because anonymity allows people to act like d-bags on a message board, which makes for entertaining posts and a few nice mental breaks throughout the day.

OP,
Let me explain something to you, you have no fcking idea what you want to do with your life (and shouldnt as that would make you incredibly boring). I would focus on maintaining your high GPA, get involved in school ECs (sports, clubs etc.), community involvement. Your primary goal should be to develop into a well-rounded, active leader so that you can get into a good enough school to break into the career of your choice. I would also recommend having some fun and slaying as many girls as possible (I assume you are precluded from doing so based on your religion so you can scratch that one if necessary).

Your ambition and focus is certainly commendable at such an early age. At your age I was chasing girls around and training around the clock so that I could play a sport at a D-1 program.

Best of luck to you. Feel free to PM me if you have any specific questions

Jul 29, 2009

Hey just curious is Investment banking = International Baccalaureate? Like IBD is International Baccalaureate Diploma? Also do people go to gym when they are in PE?

Jul 29, 2009
nokia:

Hey just curious is Investment banking = International Baccalaureate? Like IBD is International Baccalaureate Diploma? Also do people go to gym when they are in PE?

I hope you're joking. Otherwise, you're in for a treat from other members.

Jul 29, 2009

BWAHAHAHAHA

Jul 29, 2009
equityscion:

My question is: Should you get an MBA before you enroll in a summer intership at an investment bank like Merrill Lynch, Goldman Sachs, or Bank of America?

Strong

Jul 29, 2009

equityscion, you're way behind. you should've done many LBOs when you were in middle school. Now you have a lot of catching up to do. I suggest that you do an internship at wharton immediately.

Jul 29, 2009

Are Richard Wilson, the Hedge Fund Group (HFG), and richard-wilson.blogspot.com reputable sources of information?

Jul 29, 2009

You're 15 years old man, just relax and enjoy life. You'll have enough time to worry about IB & PE later. Maybe you and General Thade can nerd it up together and play WoW or something.

Jul 29, 2009

Most colleges let you take a leave of absence. I know a ton of people who do that, and most top universities allow it for things like missions etc. If you are a mormon and want to go to BYU that's fine, but I would encourage you to look at Ivy's and other top 15 schools which are usually considered targets or semi targets for investment banking. Keep getting good grades in high school and get involved in some clubs.

Most people wait a few years to get their MBA, and it is not necessary to get an MBA before entering banking/PE.

Most people do an internship the summer after their Junior year in college, then work full time at a bank in a 2 year analyst program, then either get an MBA, or more likely go work for a PE shop for a few years. It is more and more popular to get an MBA in late 20's now, and its used mostly for networking.

If you can't get into banking right out of college, then a good way to get into the industry is to go to a top 10 business school, and do an internship after your first year of b-school.

Jul 29, 2009

I think your explanation/recommendation is perfect.

I do plan on applying other schools like Stanford and Harvard in addition to the University of Utah and BYU. Both of my parents did not go to BYU. My dad to Northwestern and my mom to a seven sisters school.

Jul 29, 2009

You do the summer internship DURING the MBA program, and also during your undergrad. Not afterward.

Jul 29, 2009

If I were you I would apply to Northwestern, as well. If they factor in family ties to their admissions process like they do at Notre Dame, that'd be good for you. NW is a great school.

May 10, 2013

Just thought I would bump this hilarious post... Any updates equityscion? Are you CFO yet?

May 11, 2013
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May 14, 2013
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