University of Maryland MBA for Investment Banking?
How's The University of Maryland Smith MBA for Investment Banking? I got accepted to UMD Smith (Full Ride) a few months ago and I plan to start in the fall. I know it's not a target school so I expect (and willing) to do tons of networking, whatever the means necessary. I'm spending this time before starting school to build my networking through LinkedIn and through the UMD alumni page, as well as brushing up on the technical aspects of IB. How much weight does the Smith School Brand carry on Wallstreet? The last few years UMD alumni #s have been growing on Wallstreet, which is awesome to see as an incoming MBA student.My ideal goal is to get into Investment Banking (Ideally in NYC, but I'm down to work anywhere else), but I wouldn't mind Asset Management or Investment Management roles too. Any advice or comments would be appreciated
im telling you this right now because nobody else will. 0% of this forum has ever heard of this school. meaning it is a total nontarget. meaning it will be nearly impossible to land at a respectable ASO gig doing IB post-MBA.
What you should do: (1) get your GMAT 700+ (2) get solid work experience for a few years (3) apply to T15 MBA programs.
Otherwise it will be incredibly unlikely that you land IB if you don't do something on that level out of UG (i.e consulting/PE/Corp Dev) or MBA at a T20 program. Realistically it should be T15, but it's still doable from a T20.
Not to disagree with you, but I think UMD (University of Maryland) many people know its business school, especially its finance program.
you either went to the school and are shilling or you want to see OP's downfall. DO NOT get an MBA at a NONTARGET. This is a super handicap. You get one shot at an MBA, it will cost hundreds of thousands of dollars, do it right.
No idiot, no one knows
There’s definitely a chance to get into IB but why take the chance? The non core recruiting cycle is widely unpredictable and unstructured.
As someone who went to T25 program and got to a BB, I used my undergrad network more than my MBA network. If you’re smart enough to get a full ride you’re smart enough to get to a top 15.
Also, half of banking recruiting is having other peers to support you in the process. Image there isn’t a lot of second years or fellow first years to support you in the process.
Carries about as much weight as Karen Carpenter
Too soon
ask the schools career center if they’ve ever sent anyone into IB, anyone in IB in NYC, etc. if they have they’ll be throwing those statistics at you. recruiting is an uphill battle from a T20. this would be nearly impossible.
I’m not sure if I met any Maryland MBAs in investment banking but I would think it’s good in my humble opinion
Please don't offer dangerously incorrect information to people asking for legitimate advice.
Sorry. I was just trying to share my own exp based on my memory. I thought about it more and believe I know at least one Maryland undergrad now an investment banker at Moelis
Yea sharing the sentiment above - especially due to heavy cost of MBA, unless you are going to M7 or at least T15, it would be very hard to justify the opportunity cost.
Rather than going to Uni of Maryland probably it is better to retake the GMAT and craft a good story to save time + money.
Just my 2 cents looking at my EB.
Do you have work experience? Or are you doing your MBA right after UG?
Curious on this point as well. Hopefully he has work experience
I have 3 years of work experience at a boutique asset management firm in my city, and I currently manage a private investment fund as well
Okay so you have experience...is the GMAT competitive (680+)? Is there some reason you specifically applied to UMD with the goal of IB? Or did the goal come after applications?
If you really want a post MBA IB role don't go to UMD. My guess is you have a less than 10% shot at EB/BB/UMM. It doesn't really matter how much networking you do if your program doesn't have alumni on the street or in the particular banks/groups you are recruiting. Not Maryland undergrad alumni. MBA alumni. If there are 6 super day spots for a group and you don't have a UMD MBA alum at the table saying to invite you, I don't care how nice the Columbia guy was to you, he is pushing for his alumni at the superday.
Stay another year at your job, get the GMAT up to a 700 if you can, go to a T25 at a minimum. Even if you have scholarship elsewhere down the rankings. T25 is kind of the cut off for post MBA IB target schools. If you have a T15 and T25 acceptance and you prefer scholarship, at least you will still get interviews at the T25. Your chances at a T25; Georgetown, Emory, Rice, Vandy, Washington, and even Kelly, will give you at least a 5x better chance than UMD. Outside of Georgetown the rest of those schools primarily place regionally but you still have a good chance at breaking into the industry. If you do get the 700+ and land T15, NYU, Virginia, Cornell, Duke, Michigan, then you have alumni at almost all the banks and groups. Chances are probably 75%+ as long as you talk to every bank and don't do anything stupid.
TLDR: higher the school is on USnews MBA rankings the better your chance at breaking in.
I think it’s possible, but I don’t think the question is can you get IB, it’s more so what kind of IB role are you getting? It’s probably not a Goldman, BofA, Evercore, etc. it’s probably a small boutique shop in the DC/NoVA or something like a mid size accounting firms investment banking division. I say that to say it’s possible, but you might have to manage expectations a bit.
That said, others’ advice about going to a T15 makes sense in that it gives you the best shot at a more recognizable bank. (Especially with schools like Darden and Duke close by) However, your personal circumstances might not let you wait a year.
Can PM me for more details.
I think it’s possible, but I don’t think the question is can you get IB, it’s more so what kind of IB role are you getting? It’s probably not a Goldman, BofA, Evercore, etc. it’s probably a small boutique shop in the DC/NoVA or something like a mid size accounting firms investment banking division. I say that to say it’s possible, but you might have to manage expectations a bit.
That said, others’ advice about going to a T15 makes sense in that it gives you the best shot at a more recognizable bank. (Especially with schools like Darden and Duke close by) However, your personal circumstances might not let you wait a year.
Can PM me for more details.
Not sure about AM or IM as I don't know those industries. For IB though, it's near impossible. Recruiting as an analyst from a nontarget is possible. I've seen a few people from Smith undergrad end up in IB in NY. But when firms recruit associates, they're looking for people who want to stay on and move up the ladder. And they have thousands of people to chose from from M7 and T15 schools with proven track records of success from those programs. With your MBA, prestige and ranking matter 10x more than your undergrad. And Smith doesn't cut it.
Damn OP was all excited about starting his MBA this fall and y’all just killing his dreams. It’s the truth, but so painful
Who gets excited by starting an MBA at some shit school?
Dump people like OP who thought this was a good idea in the first place probably
I honestly think it would be a challenge to even get a F500 job. But sure go ahead and break everyone's skepticism. Tom Brady was selected 199th overall by the Patriots in the sixth round of the 2000 NFL Draft. So good luck ;)
Come on. Exaggerations are not helpful. Any MBA at a decent school will at least get them a F500 job. It's not like no one has ever heard of Maryland.
Tom Brady got drafted
Trying get into IB with an MBA from Maryland is like being an off the radar undrafted free agent who had to play in the arena league to get a chance. OP is more Kurt Warner than TB if he gets an MBA from Maryland.
x
If I were you, I would not waste my money doing this when the job market is so hot and you could theoretically do much better getting into B school because said market is hot.
Update: Broke into investment banking as an MBA summer associate
Go terps
congratulations!!!
Typical WSO extremes. While I agree that IB is going to be more difficult (but not impossible) to obtain from that school, did someone really say they’ve never heard of UMD and that this person would struggle to even secure a F500 job? That is ridiculous.
And no, I didn’t attend UMD.
While it was difficult to break in, I networked like crazy since June to break into IB. So many zoom and phone calls, but it allowed me to sharpen my TMAY and why IB, and the technicals. I grinded and built relationships, starting with alumni and then reaching out to those who have the same background as me. So yeah going to a great school makes things easier, but after you get your foot in the door for an interview, it's all up to you.
Now I don't have to worry about the crazy amount of debt that some of the top MBA guys have to worry about.
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