MBA Questions...
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14 Nov 2005, 12:57
Scott/Omari-
I plan to attend business school in the near future and have a couple of questions. Please take a look at my profile and let me know what you think.
Demographic:
White, male, 24
Education:
Top 25 U.S. University
GPA: 3.0
Major: Business
GMAT: 750 (99% overall; Quant 49-90% Verbal 42-96%)
Work Experience:
--Directly after graduation, I worked in my family's oil/convenience store business. Responsibilities were varied:
-Performed pro forma cash flow analysis for future c-store locations
-Performed regression analysis to create an effective pricing strategy against hypermarkets (Walmart, K-Mart, ect.)
-Led a team of 8 to develop marketing strategy for future grand
openings
-Developed a pricing strategy and spreadsheet to track wholesale consignment accounts.
--After 9 months or relentless pursuit, I landed a job at a large bank as an assistant portfolio manager. I currently assist 6 more seasoned Portfolio Managers manage high net worth individuals' portfolios.
-Current responsibilities include:
-Sole management of aprox. $50 Million in equities, $100 Million in Fixed Income.
-Assist in management of aprox. $3 Billion in assets.
-Developed and implemented hypothetical portfolio contest among PM's to encourage dialogue in stock/fixed income analysis
-Developed Discounted Cash Flow model tied to electronic financial statements to assist one "value" oriented portfolio manager make more informed decisions.
-Employed Markowitz's efficient frontier to individual equities in an effort to assist "momentum" oriented portolio manager in making more effective decisions.
-Developed screening spreadsheet for equities to allow portfolio managers to screen for criteria (various financial ratios) that they deem most predictive of future performance.
-In between major projects, I trade accounts, make recommendations for portfolios, and assist in risk management activities.
Community Service:
College:
-Founded and led a team of (5 at first, 15 by graduation) students to help middle school students with homework after their classes.
-Led a team of 5 students to develop a marketing strategy for a local non-profit organization that raises money for the arts.
-Participated as an energy analyst on a $250,000 fund that was started by a finance professor. Analyzed stocks within the energy sector and recommended one for purchase. Recommendation was one of 5 accepted out of 25.
Since College:
Previous 2 summers: Worked with local PGA professional to give golf instruction to those who otherwise couldn't afford it.
Last summer: Worked with YMCA to develop a golf program for kids in the area. Founded the program and led team of 4 that provides free golf instruction to encourage young kids to pick up the game.
Last 2 years: Led 2 groups of 10 on painting projects for 2 different non-profits in company sponsored "day of volunteering."
Other:
Passed Levels 1 and 2 of the CFA exam. Taking Level 3 in June 06
Scratch golfer
I have played Piano for 15 years
Started to earn my glider's license. (Airplane without an engine)
Reason for MBA:
I want to get an MBA for several reasons. I would like to pursue a career in private equity. I believe that a top program will provide me with the breadth and depth of knowledge needed as well as the networking opportunities necessary to break into this field. I love the idea of providing capital through the primary market directly to the company and also having the capability of making decision in those companies. PE, I believe, combines my love of small business with my love of finance. I also personally would like to continue my education in finance and general management. The CFA program has allowed me to do this somewhat, but I would like to be in an academic environment again to learn more about the industry and challenge myself in that way.
Target Schools:
Stanford, Harvard, Wharton, Columbia, Duke.
Here are my questions:
-My GPA is too low. Would you recommend retaking classes (ie. accounting, quantitave analysis) in which I didn't perform up to my ability, or does GMAT/CFA/work experience make up for it? Also, if you think I should retake classes, would I be better off retaking them at the undergraduate level or should I attempt to take classes in similar subject areas at the graduate level. (I haven't checked to see whether that's possible, though)
-Private Equity is a dificult industry to get into. Would it be more advantageous to wait on the MBA for a couple of years and try to find a job with an investment bank where I could hone my financial modeling skills and prove the sincerity of my interest? FYI: I have been an assistant PM for almost 2 years and expect a promotion to portolio manager in the near future) A promotion would mean a serious increase in assets under management. Would that increase in responsibility mean more than more to adcoms than slightly more relevant work experience?
-Also, do I have a realistic chance to get into these schools?
Sorry for the long post. If you've made it this far, I would really appreciate any insights that you may have.
Thanks!