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Going Cornell Johnson 2Y MBA vs. Taking a new job

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Going Cornell Johnson 2Y MBA vs. Taking a new job [#permalink] New post 24 Feb 2011, 08:32
Hello GMAT Club dudes and dudettes:

I started my MBA journey back on 1/1/10. I must say that it was humbling, as I was rejected from 5 schools STRAIGHT without interview. But God turned fair in 2011 - I was accepted to Johnson and also received a job offer a few days ago.

I would like some opinions on which would be a better option for my long-term career goal, which is getting into real estate IB or real estate investment fund (what the hell. I will take PE too if offered :wink: ). I would really appreciate those who work in those areas in finance.

The job is a senior analyst position with the transaction real estate practice of one of big 4 firms. I heard that making a transition from the position to banking (or RE fund) is quite common, but I'm not sure enough to base my decision upon it.

MBA will provide a solid transition into banking - but I'll be down $100K from the start. However, quite a few in finance told me that MBA is necessary for going up in the ladder of damn-so-competitive finance world. Also, I'm 28 right now, and deciding to go for MBA later may hurt my chance then, as top MBA programs seem to favor young ones.

I would appreciate ideas/opinions/suggestions. Thanks :-D
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Re: Going Cornell Johnson 2Y MBA vs. Taking a new job [#permalink] New post 24 Feb 2011, 09:04
First of all, congrats!

I'm relatively new to the finance world, but I do work at a fund (not RE). I think the question is whether you want to be at a fund long-term or in IB. Only 1 out of 7 analysts & PMs at my fund has an MBA (the other 6 all did Wharton UG, lol). It seems to me that if you can get into the fund world (and do well) then the MBA isn't much benefit. I can't speak to the likelihood of getting into a fund from the big 4, but, from what you say, it sounds like it's not uncommon.

On the other hand, if you want to get into IB, my impression is that the MBA, as you point out, is important for progressing. Hopefully someone with direct experience can chime in here.

Good luck!
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Re: Going Cornell Johnson 2Y MBA vs. Taking a new job [#permalink] New post 24 Feb 2011, 09:22
I agree that it depends on what exactly your career goals are. As for progressing upward in a company an needing an MBA that's what the invention of the EMBA has become for. If you have the opportunity to start working in the field that you want to work in and the pay is good my gut would tell me that that's what you should do. Do it and do it well, get recognized, and then when the time comes to get the promotion that requires the MBA or when you see it coming, explore the Executive MBA option. Another alternative would to be to attend NYU or Booth part-time as both have weekend programs and at that point in your career the brand equity and "check box" on your resume will help you better than recruiting efforts or changing careers/fields which since you'll be established in the field you want to work in.

I'm no expert on this though...just my two bits and based on you believing what people are telling you about transfering from Big 4 to IB and/or have done your own research on this.

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Re: Going Cornell Johnson 2Y MBA vs. Taking a new job   [#permalink] 24 Feb 2011, 09:22
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