Would I have IBD Opportunities Post MBA (M7)
So I am currently working in B2B SaaS sales for the fastest growing enterprise software company of all time (no joke), and long term I don't see myself being in B2B Sales for my whole career and I am hoping to get an MBA and hopefully after my MBA work in Investment Banking.
I graduated Summa Cum Laude from a Top Private School (not Ivy League, but ranked around 13-16 in US News), 4.0 in my Major (Economics)
Currently have one promotion within 7 months (Sales Development Role (working with companies under $ 1 Billion in Revenue to Enterprise Development Role working with C Level/ VP Level in $1 Billion+ revenue companies). Basically the job at this point is meeting with these companies seeing if they have a need for our product, help identify which solution would be best, and then connect them to their designated seller. (not rocket science)
I will likely get promoted to a selling role next year (to mid market companies), and a year after that to a higher selling role (higher revenue companies).
The job requires great people skills, and technical knowledge considering it is a new innovative software product.
The pay is good and I am performing really well, but I feel like I am coasting and want something more challenging.
I also feel like I would able to perform well at a Top MBA program (M7) and would be a great fit in Investment Banking hopefully at a top firm.
I have briefly studied for the GMAT and am around the high 600's with no studying. I think if I study I could get a 740+.
With all that being said if I am able to get 2 more promotions (3 total) with 4 years of Work Experience at a fast growing tech firm. Get a 730+ score on the GMAT, get into a top 10 or M7 MBA program, would I have a solid shot at getting into Investment Banking at a top BB/ EB.
Let me know your thoughts, and any advice along the way.
Thank You!!
I would also be hoping for an Associate Role in IBD
Of course you would, you seem like a stellar candidate if you do get the 740+ gmat score, you might not be a slam dunk but you would have a very good shot. If your not Asian, I would say you have a decent chance at a top 2 school as well.
*cries in Asian male*
If OP is a white male even with a 740+ H/S will still be hard
No matter what your background is, you have a good shot at BB/EB IB out of an M7 (and honestly, T15) MBA. Your background is very impressive and will definitely help, but the MBA is an ultimate reset that gives a (mostly) fair shot to everyone.
Yes, definitely competitive but you need to keep an eye on the summer associate timeline and be networking heavily during your first semester.
Would recommend targeting tech or comms roles if that interests you and you want to stay in California, but generalist opportunities in NY won't discount your background either.
if I go to an M7 or top 15, would I be competitive for a Summer Associate role even without previous Finance Experience?
Yes without question. Majority of summer MBAs do not have finance experience. Coming from a name brand tech company is more than enough, you just need to think about why finance/IB and be able to articulate why you're making the switch in interviews.
The hard part will be getting those work promotions and the GMAT. If you do those and go into any T15 program with 4 years WE, 740 GMAT, you have a great shot at BB/EB.
Only a second year analyst, but I don’t think the work is going to be more challenging in investment banking. Until you make it to director level, the work is pretty mundane and process oriented. From what I have seen, most post-MBA associates don’t make it. At the director level, your job is essentially sales and relationship building again. Seems like you have a pretty good job right now that is probably equally as challenging than banking and you’re on a good trajectory. Banking isn’t more challenging, it’s just more competitive and entails a pretty bad lifestyle (the “rainmaker” MDs in my group are always working, it’s just a very different type of work than analyst work). Seems like you should spend more time talking to post-MBA associates to get a better sense for their work and lifestyle before you spend two years of your life and a lot of money to start at a bank in a junior position.
Think you should have a good shot if you get into a T10 or T15 MBA even (does not look like most MBAs are gravitating towards IB, in comparison to what it used to be like - funnily most prefer Consulting or Tech but I digress).
The only thing I would say is motivation. You mentioned coasting and work being easy/wanting more challenging work. In terms of the actual work, that’s... not gonna happen, sorry. Sure, you can get a lot of stress through artificial/synthetic deadlines but the actual work won’t be the cause. High school arithmetic, superficial knowledge of TVM/CAPM and a $500 course on basic Excel/Modelling will level your knowledge (technical) deficiencies and bring you to a level playing field with most An2/An3 people.
The actual “process” is what is the real deal, which you cannot read in books. This is what you’ll learn on the job but after you’ve seen one or two... gets pretty vanilla unless you go to a shop which has knack for courtroom drama inspiring acquisitions/defence work. Also, most banks do sell-sides mostly. Which means even within the realms of advisory work, they work on (practically non-technical) projects.
Just make sure to connect with post-MBA associates, preferably those who came from a technical background, to learn whether the perception you have of the job matches any/all cognitive challenges you wish to undertake. Good luck! :)
I really appreciate the insight, thank you!
Off topic but if this is true, what accounts for the "MBA Associates can't pull their weight" trope that gets perpetuated on here? Seems like this is all stuff that one could learn quite easily before hitting the desk
Intern’s perspective but you sound like you’d be a great candidate. If I was you, I’d start with the banks and specific groups that did your company’s IPO and try and network with associates who came out of B school. That could be an interesting way of building your IB network out and talking to the people who built models and slidedecks on your company.
Thanks! That is great advice. I'll be sure to do that!
I'd like to amplify an upstream comment. You are doing quite well in a corporate sales track. It will eventually lead to a senior corporate sales track with excellent comp, travel perks, senior exposure, etc. Nobody gets into to banking for the thrill of associate work. They either want a path to the buyside OR a significant career in banking. Director level and above in banking is all about relationships and selling. You are already doing that. You will get to do a lot more of that during the climb than you will in banking. The stimulating work in banking won't be there until you get to that director level. Other than long term compensation, what is it about banking that you find appealing? Is it just the perceived prestige? Seriously, you're at a good spot and will grow into a ton of compensation. Perhaps there is a future leadership role for you where you currently reside. Or a lateral within the tech world for different opportunities?
I could see myself in banking long term. The only reason I would go into Investment Banking as an Associate would be to stay in banking and hopefully become an MD after many years. Is that not a good long term plan? Also of course the compensation is something to consider as well.
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