NT'ers with MBA's. Come in.

[nycknicks105]

I'm thinking of going for my MBA. Particularly an MBA in Finance. I was wondering if anyone on NT (I'm sure there are plenty) has an MBA and what they're currently doing with it. 
What school did you go for your undergrad?

What was you GPA in undergrad?

Where did you or currently going for your MBA?

What GPA did you come out with?

What kind of field did you get your MBA in?

What job do you have now?

Did you find work immediately after getting your MBA?

I know it's a lot to ask for, but im sincerely considering this path of education. 

Thanks NT!

 

[eiddyfouw]

I don't have a MBA...I'm finishing my Msc right now....and I'm considering going to get my MBA in another 5-6 years.  
From what I've heard from the majority of my finance friends (A bunch of investment bankers and asset managers)...they all say the same thing....MBA in finance isn't exactly necessary...but that CFA is.  If you're going into finance, skip the MBA, get the CFA (or become a certified actuary) and you'll be good to go. 

P.s...an MBA is only REALLY helpful if you have work experience already...as in, you're not going straight from undergrad.

 

[frankmatthews]

The good MBA schools don't accept people right out of undergrad. You need 2 years work experience at least.

In finance, an MBA opens a whole new world of job opportunities from what I hear. Most undergrads that didn't
get a "New York" job will go for the MBA in hopes of getting in at a bulge bracket. Only other way is working
your way up at a smaller firm.

 

[thegooch06]

Yeah, I have an MBA (graduated back in '06). Getting an MBA doesn't take that long (it's only 2 years full-time), but it sure is expensive. lol IMO, it's only worth going to a top 25 business school. The reason being is that you have best opportunity to meet the most attractive employers and be recruited for the hottest jobs. Plus, you want to make sure that you have access to top-notch classmates and alumni network. This is especially important when networking for jobs or looking to start a business.

Overall, I really enjoyed my time in business school, and I would definitely do it again. Before school, I had worked in investment banking and marketing/strategy, but I was interested in making a transition to real estate development. With that in mind, going to business school is best for those who are looking to change careers or to enter a field where an MBA is pretty much required like investment banking, consulting, some marketing and strategy jobs, etc.. If you are looking to stay in the same field, I would probably encourage you to stay where you are (especially given the current economy) and network, network, network. Funny thing is that in business school, you will go to class with students who would love to have the job that you just left...lol

OP--PM me if you have any other questions.

 

[shoehead117]

Originally Posted by eiddyfouw

I don't have a MBA...I'm finishing my Msc right now....and I'm considering going to get my MBA in another 5-6 years.  
From what I've heard from the majority of my finance friends (A bunch of investment bankers and asset managers)...they all say the same thing....MBA in finance isn't exactly necessary...but that CFA is.  If you're going into finance, skip the MBA, get the CFA (or become a certified actuary) and you'll be good to go. 

P.s...an MBA is only REALLY helpful if you have work experience already...as in, you're not going straight from undergrad.

I have to disagree. Although a CFA is a Excellent certification, an MBA is worth much more.


It really comes down to what type of finance you really want to get into. If you're aiming at "high finance" aka Investment Banking, Private Equity, Venture Capital then an MBA is the route you want to go to.

If you want to get into S&T or work at a Hedge Fund, then I can see the CFA becoming very valuable especially if you want to become a portfolio manager.


Regardless of what you choose, you still need a certain amount of work experience. Around 3-5 yrs to get into a good MBA program or log a certain amount of hrs (hundreds) to get through all 3 levels of the CFA.

 

[si3xers55]

Seton Hall
2.9
MBA Management
3.4??
I'm job searching now, but in a field not related to my degree at all. Most people with MBAs get interviews just because they have one now a days.
You can get a job relatively easy with an MBA, it just might not be 100k paying job like one might expect.

I went for my MBA (management) right after because I couldn't find a job and will be finishing up this summer. The way I see it is as long as you have one degree from a good school most employers don't care anymore unless your MBA is from a top program in the country. I have a GA position, so my MBA won't cost me a penny, but to answer your questions.

 

[thepointgod]

An MBA doesn't open up a "whole new word of job opportunities"--it's a rather useless degree in my opinion.  There are only a few top-tier B-schools that are worth going to, and if you have the credentials to be admitted into them, you probably didn't need to go anyway.  It's mostly for networking opportunities and to party (HBS, SBS, Wharton, Sloan, Kellogg, etc.).  Getting an MBA doesn't make you a businessman, nor does it make you qualified for a position.  My advice is to save your money and two years of your life.  Most people go to B-school after they've been established in business to get a formal education before going back into their original or a similar line of business.  It does't make sense to get an MBA and then, after graduation, start out where you would've been anyway.

 

[e3lal]

If you want to get into finance, maybe go get a high level math/science degree instead.  IMO, you would be way more valuable.

 

[nycknicks105]

Originally Posted by Coolidge Effect

What school did you go for your undergrad? Florida State
What was you GPA in undergrad? 3.5
Where did you or currently going for your MBA? Davenport University
What GPA did you come out with? i have a 3.85 now
What kind of field did you get your MBA in? Finance currently
What job do you have now? Unemployed
Did you find work immediately after getting your MBA? Nope, applying for law school and hoping for a better outcome.

writing a paper on corporate governance at this exact moment.

All those credentials and unemployed?? That's scary 

 

[throwedindagame]

Originally Posted by nycknicks105

Originally Posted by Coolidge Effect

What school did you go for your undergrad? Florida State
What was you GPA in undergrad? 3.5
Where did you or currently going for your MBA? Davenport University
What GPA did you come out with? i have a 3.85 now
What kind of field did you get your MBA in? Finance currently
What job do you have now? Unemployed
Did you find work immediately after getting your MBA? Nope, applying for law school and hoping for a better outcome.

writing a paper on corporate governance at this exact moment.

All those credentials and unemployed?? That's scary 

OP, I'm going to be blunt. (and apologies for the poster who i am going to use as a sacrificial lamb for the sake of illustrating a point)



I've never heard the other poster's B-school. I doubt many employers have either. Furthermore, his undergrad school was not exactly stellar. Case and point, I would not use him as the end-all be all to someone who is super qualified, has all the boxes checked and is unemployed. Because, he does not have all boxes checked. Going to ANY bshcool is not a check in the box, You have to go to the right b-schools to get a check-mark. Then we proceed to everything else in your credentials. There is nothing scary, in-fact his situation is rather predictable.

I sound like an #%@ hole but this is how people in corporate America view resumes. It's better you hear this from me, than GE.
When I screen undergrad resumes, I screen by school / GPA / previous experience.  I also look out for people from my alma-matter. It's the same at the post-MBA level. School plays a major role. Business school is all about your pedigree...especially for you OP since you want to go into finance.

I'm assuming we are talking high finance i.e. wall street or something related to the capital markets? Otherwise, getting an MBA is probably a waste of time and money.
Pedigree is very important in high finance. My rule of thumb is this:

If you are going to B-school for the sake of working on wall street and you did not get into a top 10 business, change your plans.

A few questions
Are you an undergrad?
Are you a career switcher?

Do not try and get an MBA with no work experience.

 

[eiddyfouw]

^^^ Interesting viewpoints. I see a lot of truth of what you're saying.

 

[Gill Baka Esq. LLC.]

my sis got her mba from fordham about 6 years ago and she works for a major pharma company.

over the past couple years her company has been downsizing and firing people left and right and the only reason she still has a job at her place is because of her mba + experience as a biopharm major.

 

[sneaks23]

Truthfully, if you go back for an MBA expecting to come out landing a prestigious job, you better be in a top 10. Consulting, IB, etc recruit heavily from those schools. I would also look at trying to get into at least a top 25 if Harvard, Stanford, Wharton, Columbia, etc. are a long shot. Once you're in, network your but off. Anything else is a waste of time and money.

 

[jbnsoul]

What school did you go for your undergrad? UC, Irvine

What was you GPA in undergrad? 3.5

Where did you or currently going for your MBA? Santa Clara University

What GPA did you come out with? 3.5

What kind of field did you get your MBA in? Marketing

What job do you have now? Marketing

Did you find work immediately after getting your MBA? Same Job, more money

It all depends on what you want to study.  If you have a finance background, you should look for a B-school with a very good finance program, or at least a very good alumni/partnership in the finance industry. Obviously, you have your top B-schools like Harvard, Columbia, Stanford, USC that you're pretty much golden if you graduate from.  But for those of us who couldn't afford those schools, smaller schools like mine, have a very strong alumni that have been more than helpful in finding jobs. Also, don't get your MBA because you think adding education will get you a higher paying job.  Know what you're going to do with it.  For me, got my MBA in preparation to becoming a brand manager eventually staying in marketing.

And there were plenty of people in my program who graduated and landed a "prestigious job" specifically at places like Sequoia Capital.  My school was known for it's finance and entrepreneurial programs.  The connections my school had with Angel investors was crazy.  Research the school, and really look at their resource as far as alumni, post graduate career help, and if it aligns with your interests.

 

[secretzofwar]

I haven't (and probably won't) received an MBA, but like others have said the cost/benefit sucks if it's not a top school and you don't make a bunch of friends.

If you're just looking for a pay bump...

CFA > MBA


If you already work in finance, the CFA isn't awful IMO.

 

[Betonblck]

What school did you go for your undergrad?  Temple U

What was you GPA in undergrad?  3.2

Where did you or currently going for your MBA?  LaSalle University

What GPA did you come out with? 3.5

What kind of field did you get your MBA in?  Accounting

What job do you have now?  Internal Audit

Did you find work immediately after getting your MBA? Worked while getting MBA

 

[jookz]

any engineers with MBAs? curious, cause i'm working towards that second full year of experience in a solid engineering spot, and wanna know what the prospects are like after.

 

[bhzmafia14]

Most of the people I know with MBA's didn't have to go to a top 25 or probably not even top 75 business school. Most of those people are pulling in over a $100,000+. It depends on what market you're in and who you know. Sure, if you want to live in a big city, it may be best to go to the best school possible. I'm in Memphis and its really all about who you know. The only thing you need is that piece of paper, networking skills and some knowledge. 

 

[ricky409]

dont have an MBA... but i beg to differ about CFA > MBA-fin..

i'm actually going about my path a little bit differently...

Undergrad GPA: 2.78

School: T A&M - Kingsville

i'm attending a small college in the fall to get my Masters of Science - Finance... its fast.. only 30 creds, so i can knock it out in a year and a half easy...

i'm looking for a job to work while i'm gaining the MS-FIN... and i will gain exp. for about 3 years before i try to head of the business school...

i talked to a guy that has an MBA from Harvard and he gave me some good advice on how to go about making those moves...

people arent COMPLETELY right about schools not in the top-25 are useless...

you arent going to just walk into a 100K job, but its VERY VERY plausible...

 

[jordanhendrix]

Originally Posted by ThrowedInDaGame

Originally Posted by nycknicks105

Originally Posted by Coolidge Effect

What school did you go for your undergrad? Florida State
What was you GPA in undergrad? 3.5
Where did you or currently going for your MBA? Davenport University
What GPA did you come out with? i have a 3.85 now
What kind of field did you get your MBA in? Finance currently
What job do you have now? Unemployed
Did you find work immediately after getting your MBA? Nope, applying for law school and hoping for a better outcome.

writing a paper on corporate governance at this exact moment.

All those credentials and unemployed?? That's scary 

OP, I'm going to be blunt. (and apologies for the poster who i am going to use as a sacrificial lamb for the sake of illustrating a point)



I've never heard the other poster's B-school. I doubt many employers have either. Furthermore, his undergrad school was not exactly stellar. Case and point, I would not use him as the end-all be all to someone who is super qualified, has all the boxes checked and is unemployed. Because, he does not have all boxes checked. Going to ANY bshcool is not a check in the box, You have to go to the right b-schools to get a check-mark. Then we proceed to everything else in your credentials. There is nothing scary, in-fact his situation is rather predictable.

I sound like an #%@ hole but this is how people in corporate America view resumes. It's better you hear this from me, than GE.
When I screen undergrad resumes, I screen by school / GPA / previous experience.  I also look out for people from my alma-matter. It's the same at the post-MBA level. School plays a major role. Business school is all about your pedigree...especially for you OP since you want to go into finance.

I'm assuming we are talking high finance i.e. wall street or something related to the capital markets? Otherwise, getting an MBA is probably a waste of time and money.
Pedigree is very important in high finance. My rule of thumb is this:

If you are going to B-school for the sake of working on wall street and you did not get into a top 10 business, change your plans.

A few questions
Are you an undergrad?
Are you a career switcher?

Do not try and get an MBA with no work experience.

It really depends what you did before before. The top 25 schools love F500 experience and the top 10 want BIG names on your resume to be considered, along with top numbers (GPA, GMAT/GRE)
I hate to agree with someone who uses the phrase "case AND point" (btw Case IN Point is required reading at many a b school)

It sucks but he's right, things are getting better out there for the top 30-40 schools as the economy turns around, i got to a top 20 and some companies are recruiting here and other schools down the list because they have too many spots to fill. That said, those job are in the industries where they churn and burn MBAs, consulting and IB.

 

[antbanks81]

Originally Posted by nycknicks105

I'm thinking of going for my MBA. Particularly an MBA in Finance. I was wondering if anyone on NT (I'm sure there are plenty) has an MBA and what they're currently doing with it. 
What school did you go for your undergrad? I wwnt to Hampton in VA

What was you GPA in undergrad? 2.7

Where did you or currently going for your MBA? National Louis (finished two weeks ago)

What GPA did you come out with? 3.6

What kind of field did you get your MBA in? No specific area of concentration

What job do you have now? Same sales job for Comcast

Did you find work immediately after getting your MBA? I just started sending out resumes after updating my resume

I know it's a lot to ask for, but im sincerely considering this path of education. 

Thanks NT!

I think its worthwhile. I coasted through undergrad doing just enough. The MBA program made me go the extra mile to perform and do well. I feel better for having completed it, and definitely feel the increased debt. I would suggest that anyone interested in an MBA work a few years first so that they have meaningful contributions to classroom discussions.

GB
  

 

[jordanhendrix]

Originally Posted by JBnSOUL


What school did you go for your undergrad? UC, Irvine

What was you GPA in undergrad? 3.5

Where did you or currently going for your MBA? Santa Clara University

What GPA did you come out with? 3.5

What kind of field did you get your MBA in? Marketing

What job do you have now? Marketing

Did you find work immediately after getting your MBA? Same Job, more money

It all depends on what you want to study.  If you have a finance background, you should look for a B-school with a very good finance program, or at least a very good alumni/partnership in the finance industry. Obviously, you have your top B-schools like Harvard, Columbia, Stanford, USC that you're pretty much golden if you graduate from.  But for those of us who couldn't afford those schools, smaller schools like mine, have a very strong alumni that have been more than helpful in finding jobs. Also, don't get your MBA because you think adding education will get you a higher paying job.  Know what you're going to do with it.  For me, got my MBA in preparation to becoming a brand manager eventually staying in marketing.

And there were plenty of people in my program who graduated and landed a "prestigious job" specifically at places like Sequoia Capital.  My school was known for it's finance and entrepreneurial programs.  The connections my school had with Angel investors was crazy.  Research the school, and really look at their resource as far as alumni, post graduate career help, and if it aligns with your interests.

I just had to post that USC should not be in the same sentence with those other schools, its a great program but not even close to the others. In Cali it has a strong brand, and some of the best alums.
I would like to know what the person is doing Sequoia, thats very important, we have a girl who won't shut up about going to Goldman, but she's doing HR!! And don't tell me that person is an associate....im calling BS until you post a linked in profile.
Sequoia is one of the toughest places to get in. 

go ahead prove me wrong, its possible but the FUNCTION is relevant.

 

[omgitswes]

I feel like it's a better idea to have a job first then go to b school and get your MBA.
Because they'll pay for it. That's what I plan on doing

 

[jordanhendrix]

Also something people are neglecting to consider...scholarships.
if your a minority check out the consortium for graduate studies in management, I'm in it, all but 1 of the students who went through it have scholarships, at least half rides, many full
if your a female, check out the Forte foundation
lots of students at my school are getting partial rides......that changes everything.

my story:

I'm a first year MBA with an internship lined up at a F50 company in boston, i go to a top 20 b school (hint if it were 15th i would say top 15 b school)
i was making 45K plus bonus before coming in, topped out @ 52K
Im going to be paid at a rate of 105K for my internship (10 weeks), its a tough one to get out of my school but easy out of top 10 programs.
We have kids who worked at IB/MC and career changers who are headed there for the summer and full time.
THe best salaries for full time offers are from the big 3 consultin companies....135K base 20K signing, up to 25K performance based.
IB is very similar for your 1st year after graduation but skyrockets soon after.

my GPA was garbage but I worked in a boutique PE shop and crushed the GMAT, thats how i got in.
It is about networking, I'm good with people when i need to be and I'm up there as far getting interviews, i could have gone into finance, marketing or consulting, i chose consulting.

 

[ricky409]

^^^^

What was your gmat score...

Plus some tips on the test would be nice.