Where I stand - IB / PE (hopefully) - 3.9 / 740
I'm thinking about applying to MBAs 3-4 years down the line so I'm still looking to refine my story a bit over the next few years, but would love to hear general thoughts as I build out my profile. I'm also an ORM.
Education
Top 25 undergrad - 3.9+ GPA
740 GMAT (50Q/41V) - seriously thinking of retaking...
Extracurriculars-- was on the exec board of finance club, led mentorship program for another club, did a lot of tutoring
Work Experience
I am currently a first year analyst at a bulge bracket investment bank (BAML/Credit Suisse/Citi) in a "top" group. I've been indicated that I am ranked at/near the top of my analyst class. I am set to move internally to a different group in the investment bank for my second year to broaden my skillset. I plan on staying in banking for the next 1-2 years and then making a transition into PE. Obviously a lot here is still TBD, but those are my current goals.
I won an award for being a "top performer" based on my technical training scores during analyst training... I don't know if that counts for anything...
Extracurriculars
In undergrad, I was a leader of our university's largest investment club. Did a lot of mentorship for underclassmen and led finance training programs. Also was involved in tutoring and mentorship programs for a variety of clubs and classes.
Haven't done much since graduation given the COVID environment and my job keeping my busy, but I am currently volunteering time to a local organization that advises entrepreneurs, particularly those from underprivileged backgrounds.
I'm also quite involved in my group's recruiting team for my alma mater-- mentoring potential candidates, screening resumes, interviewing, etc.
Post-MBA Goals
This is still a bit TBD depending on how the next few years go, but the idea would be to continue down the path of being an investor. An MBA isn't an absolute requirement for my career path, but many PE firms still prefer it if I do pursue the partner track. Potentially looking to move into a corporate role as well. Happy to talk more, but given that I'm still only 1 year into my career, don't want to over-extrapolate.
School Targets
Focused on the M7. Do you think Wharton / Booth / Columbia are doable? Pretty sure I'm SOL for H/S, so really focused on those 3 given their strong finance programs.
I feel like the biggest thing that's been nagging me is my GMAT. Quite honestly, 740 is definitely where I was scoring on my practice tests, so it really wasn't a surprise. I think a 750 or 760 are within reach though. There's obviously some area of improvement around my verbal score. Is it worth going through a retake given I have plenty of time? No guarantees I can hit those scores though. Any other thoughts around my profile are welcome.
Moreover, I'm curious about the implications of going to a non-HSW school for a future in private equity.
I'm pretty sure you'll get in to Wharton, Columbia and Booth as long as you write a somewhat compelling essay. I'd also throw my hat in the ring for H/S because it is honestly a crapshoot. I don't think retaking the GMAT is worth it. A 750 or 760 won't materially improve your chances and you already have an exceptional quant score.
Not to hijack your thread but...why do an MBA? You are already on the career trajectory that can get you to your post-MBA goals, so why spend 6-figs plus the 6-fig opp cost to get you to the same spot?
In retrospect, I would not have chosen to embark on my M7 MBA journey if I wasn't switching careers into banking or consulting. The tRaNsFoRmAtIvE eXpErIeNcE that the schools love to sell is really overblown.
It's a fair question. Some PE firms require it. If I do pursue PE after banking, many funds are still 2-and-out programs or explicitly prefer associates get an MBA before the Senior Associate role. It's by no means the goal, but it there is a possibility that the MBA might be my best option down the line.
Assuming you'll be applying from PE. 99% chance you get into one of Booth / Kellogg / MIT / Columbia, probably Booth. 50% chance you get into Wharton. 10% chance for one of Harvard and Stanford, unless something changes significantly. These odds go up slightly if top-tier PE and down slightly if unknown PE.
There's a lot of good intel on WSO on this topic but you really need to dig for it.
Source:
semi-target, IB -> PE, weak extracurrics, strong LORs, 750-760 GMAT, 3.9+ GPA, got into Wharton, got wrecked by Covid
Note:
My personal calculation was do not attend anywhere besides H/S/W without money. Wharton without money is a hard go or no-go decision. H/S is an easy decision, go (but realistically as an ORM PE guy, you probably aren't gonna get in)
I got 75% to Columbia, which would have been an easy decision if I was going HF -- but going PE, still didn't make sense. I took Wharton, largely for the break but also because the PE network is bonkers.
Thank you, much appreciated. Anything you would've done differently ahead of the application process?
What tier IB/PE firms were you at? Also curious who are the people (other than the ones targeting the handful of firms who recruit at H/S) that get into Wharton and then decide not to go, since as you said Wharton's PE network is still A+
Did you take Wharton with or without money? Would you have taken it without money if you didnt receive it?
What are the funds that are supposedly GSB / HBS only? People refer to this but I dont see names posted...want to understand how much worse off the Wharton brand is vs HBS / GSB
Mostly agreed with above - you’ll get into Wharton and below but def retake if you want a shot at H/S.
Wharton isn't guaranteed imo. It is still extremely competitive because almost everyone from IB/PE that wants an MBA applies. So OP is bucketed against them since they have quotas for people in finance at all the top MBAs.
Thanks Analyst 2 who doesn’t have an MBA.
Hardoo
Current Wharton student here with an IB/PE background, also ORM. Don't think about your odds of admission at these schools too much (yet). You don't know what PE firm you'll be at yet, and pre-MBA employer is probably the single most important factor that influences your odds. Try to land an associate seat at the biggest name PE firm you can manage, and secondarily try to get a 750+ on the GMAT, and you'll have a good shot at Wharton. H/S are probably out of reach but no harm in applying. The rest of the M7 would arguably be a net-negative to a long term PE career and likely not worth it, especially at sticker price.
Out of curiosity, how do you think W shakes out for a pre-MBA MF associate? I know historically Wharton has had a big PE applicant draw, but in recent years it seems like most MF PE associates are H / S or bust (other than Carlyle which seems to send a decent amount to W). How do you think a MF PE associate attending W would be perceived (positive, neutral, negative)? Any issues in recruiting out relative to going to H or is it really more based on pre-MBA experience?
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