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Is a full time mba worth it now?

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Is a full time mba worth it now? [#permalink] New post 01 Jul 2013, 07:21
Hello,

I need some expert advise from fellow GMAT club members. I know this question has been asked many times but I am still in a dilemma as to whether to pursue full time mba at this stage. Below is my profile-

Nationality- indian
Work experience - 8 yrs in cpl of months
Academics - Good ( Engineering)
GMAT - will write in August.

I am currently working in a large investment bank in Hong Kong and have 4 yrs international experience. Though am working in IT space I have extensive experience in business. I am looking to move into equity research or portfolio management after mba. However my concern is whether an mba will help me switch to the career that I desire.
Pls advise. Thanks a lot and looking for your feedback.
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Re: Is a full time mba worth it now? [#permalink] New post 01 Jul 2013, 13:04
Hi santas --

Based on the title of your post we thought you were going to ask about the cost of the MBA - or at least the opportunity cost of taking two years out of your career and foregoing salary for that time - or maybe an existential question about "Is the MBA worth it?" which seems to go around from time to time.

But, happily, it sounds like you're just wondering if you'll be able to pull off a big career switch through an MBA program. And the answer to that is pretty simple: Yes!!

It all depends on YOU of course - nobody gets an awesome new career without a lot of work, both in bschool itself and through networking and all the rest. But with that brief sketch you offered of your background, our guess is that some of the better MBA programs might be very interested in you - your international experience helps a lot, and if you've been at a well-regarded IB (almost regardless of position), then that helps too.

The transition to the two fields you named actually is one of the easier - investment management, for example, is one of the less competitive areas in finance. It's much easier to pull that off, even from an IT background, than it is to go into private equity or some other areas. We've had several clients in the past few years do exactly what you're describing; some of them are currently at Booth, another just finished at Wharton, etc.

The MBA is the ideal vehicle to make the type of jump you want to make. It's not easy, there's lots of hurdles along the way, but it's absolutely do-able.

Hope this helps - let us know if we can give more insights along the way.

EssaySnark

PS: You might try to accelerate your plans for the GMAT - if you don't test until August then you'll likely have to be starting essays at the same time as you're studying - this is not good. Try to get that out of the way in July if you can (provided that you're ready for it of course!).
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Re: Is a full time mba worth it now? [#permalink] New post 01 Jul 2013, 23:19
Expert's post
santas wrote:
Hello,

I need some expert advise from fellow GMAT club members. I know this question has been asked many times but I am still in a dilemma as to whether to pursue full time mba at this stage. Below is my profile-

Nationality- indian
Work experience - 8 yrs in cpl of months
Academics - Good ( Engineering)
GMAT - will write in August.

I am currently working in a large investment bank in Hong Kong and have 4 yrs international experience. Though am working in IT space I have extensive experience in business. I am looking to move into equity research or portfolio management after mba. However my concern is whether an mba will help me switch to the career that I desire.
Pls advise. Thanks a lot and looking for your feedback.


Hey there dude,
it's a good question you ask, and there is no clear answer exactly. Will an MBA help you for sure move into PE?? I dunno.. really hard to say. There aren't that many PE jobs out there, and as you might guess, lots of them go to people with experience. But an MBA will for sure open up a world of new possibilities, in finance and otherwise, (and perhaps PE too) and it's hard to say at this point exactly what. But let's say that without an MBA your chances of moving are pretty darn low, and with an MBA you are opening a whole wide world of opportunity. If you decide to go for one, then the key would be landing that right internship and then being soooooooo amazing that they offer you a job after you graduate. That's probably the easiest path for you.

What do you think?
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Re: Is a full time mba worth it now? [#permalink] New post 02 Jul 2013, 06:18
Thanks for your valuable feedback. I am working in one of the big 4 american Investment banks from past 6 years. I've been thinking of doing mba from past 3 years but due to personal commitments i was never able to concentrate on it. However now i believe i can devote the required time on it.
I cannot write gmat before august unfortunately as i've only started preparing for it 2 weeks ago, and my first practice test showed me i need to tremendously improve, got a dismal 590 (40Q,32V) (sigh...i thought i was brilliant in Quant :)). It turns out that i need to put a lot of time in improving both the sections to cross the magic 700.
I do believe an Mba will open the doors to lot of opportunities. However, i've seen ppl who did mba and nothing worked out for them and they returned to the same old job with a huge debt. I mean it's a serious money that we're talking abt and a valuable time and effort that goes into doing mba. I am sure this must be the concern for most of the ppl going for it.
Currently i am aiming for good schools in US/Canada & India. I know the job prospects in India, but i am not too sure of US & Canada for the kind of jobs i am looking for post Mba. I do agree the internship is a crucial part and thats precisely why iam looking for 2 year mba. From what i understand companies look for guys who have 4-5 years experience for internships, so i am wondering if companies would even care for guys like me who have 8 years (well 9 years if i join the school next year) of experience.
Thanks for your time in answering my questions! cheers
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Re: Is a full time mba worth it now? [#permalink] New post 02 Jul 2013, 06:30
Taking your comments out of order here...
santas wrote:
However, i've seen ppl who did mba and nothing worked out for them and they returned to the same old job with a huge debt. I mean it's a serious money that we're talking abt and a valuable time and effort that goes into doing mba. I am sure this must be the concern for most of the ppl going for it.
Currently i am aiming for good schools in US/Canada & India. I know the job prospects in India, but i am not too sure of US & Canada for the kind of jobs i am looking for post Mba.

Definitely not everyone thinks about it this way; often people are starry-eyed and they get attached to the idea of the MBA without having a good reason. So it's great to see you kicking the tires on this the way you are. EssaySnark is a firm believer in hard work -> good results (maybe we're just idealists!) and yes, sure, sometimes things don't work out for people - but mostly they do. You have averages on your side. The MBA is a major feeder into equity research and investment management (not sure where the idea of PE came from since you didn't say anything about that). If you do your homework, as you are doing, and you bring your strengths - and you work hard - we're confident that you'll end up exactly as you need to be.

Also remember that the economies of the world have been in tough shape for awhile, but things seem to be stabilizing and picking up steam. If you're comparing yourself to people who graduated in the past few years, they didn't have the best of conditions to deal with in the job markets. Nobody can say what those conditions will be like when you graduate in 2016 but let's hope that everything is humming along well around the world by then!

You're not completely out of range with the amount of work experience you have, but this is the year to apply - you're headed to the older side. We talked about this issue in our answer to someone else's (unrelated) question on this post (where we talk about "the biggest hiccup"), you may want to check that out as it could apply to you.

santas wrote:
got a dismal 590 (40Q,32V) (sigh...i thought i was brilliant in Quant :)). It turns out that i need to put a lot of time in improving both the sections to cross the magic 700.

Yeah - this test is HARD!! You need to get into the mind of the GMAT question writers to do well at it. Good luck with it, it will be important to do well (obviously) in order to increase your chances for all of this.

If we can answer other questions please let us know!
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Re: Is a full time mba worth it now? [#permalink] New post 03 Jul 2013, 00:30
Expert's post
santas wrote:
Thanks for your valuable feedback. I am working in one of the big 4 american Investment banks from past 6 years. I've been thinking of doing mba from past 3 years but due to personal commitments i was never able to concentrate on it. However now i believe i can devote the required time on it.
I cannot write gmat before august unfortunately as i've only started preparing for it 2 weeks ago, and my first practice test showed me i need to tremendously improve, got a dismal 590 (40Q,32V) (sigh...i thought i was brilliant in Quant :)). It turns out that i need to put a lot of time in improving both the sections to cross the magic 700.
I do believe an Mba will open the doors to lot of opportunities. However, i've seen ppl who did mba and nothing worked out for them and they returned to the same old job with a huge debt. I mean it's a serious money that we're talking abt and a valuable time and effort that goes into doing mba. I am sure this must be the concern for most of the ppl going for it.
Currently i am aiming for good schools in US/Canada & India. I know the job prospects in India, but i am not too sure of US & Canada for the kind of jobs i am looking for post Mba. I do agree the internship is a crucial part and thats precisely why iam looking for 2 year mba. From what i understand companies look for guys who have 4-5 years experience for internships, so i am wondering if companies would even care for guys like me who have 8 years (well 9 years if i join the school next year) of experience.
Thanks for your time in answering my questions! cheers


Hey man,

Obviously I can't guarantee that you will get a better job when you graduate, but you probably will, and the statistics bear this out. And yes, some people who have dreamed of changing industries and trying something new end up going back to their industry or employer, but from what I have seen for the most part at a far better salary and position (and the stats bear this out). So worst case scenario is still a good scenario!

A lot of course also depends on WHAT school you gradate from. Graduate from one of the top 5, and network your butt off... you may well find that you are getting the job you want...


But let's say, in the meantime, just concentrate on kicking the heck out of GMAT.... first things first, and last things last my friend...
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Re: Is a full time mba worth it now? [#permalink] New post 05 Jul 2013, 10:31
I read through and am not clear whether you work on the investment banking side within the IT industry vertical (front office) or the IT function within an investment bank (back office)? I assume you mean the latter. Your ability to make the transition would be easier if you already have the business financial services experience.

Also, does your investment bank do equity research and portfolio management and is there any ability to make the transition without the MBA? I expect the answer to be no, but I have had clients move from the back office to the front office pre-MBA.

Like other posters have said retake your GMAT and there are no guarantees. The better the school, the better your chances. But even if you do not go directly into equity research or portfolio management, an MBA might help you transition into other areas of financial services that interest you. (assuming you are in the IT function now and cannot easily move to the front office pre-MBA).

Finally, you might look at Masters in Finance programs like the one at LBS http://www.london.edu/programmes/mastersinfinance.html which feed into your career area. There are drawbacks to Masters in Finance degrees as well (less flexibility and less established degree) but at least it is an additional option for you to consider.

Good luck,
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Re: Is a full time mba worth it now? [#permalink] New post 05 Jul 2013, 11:16
MBAPrepAdvantage wrote:
I read through and am not clear whether you work on the investment banking side within the IT industry vertical (front office) or the IT function within an investment bank (back office)?


The OP works in IT in a IB.

(Couldn't resist! ;-) )
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Re: Is a full time mba worth it now?   [#permalink] 05 Jul 2013, 11:16
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