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need some career and MBA related advice

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need some career and MBA related advice [#permalink] New post 10 Nov 2010, 04:06
Hi Guys

Would need some serious advice. I've recently applied to 3 schools among the 15-20 ranked ones. Recently our firm shut down and we lost our jobs. I've a Masters in Financial Engineering and 3 yrs experience in prop trading. I'm in a fix as to whether I should just take up any job or I should wait for the one that is in line with my long term career goals in asset management. Obviously, a lack of job now is going to be seen as a huge negative for my application. Chances are high that I'll be rejected from all schools (that's the reason I applied to schools ranked between 15-20, as opposed to my initial plans of only top 10 when I still had my job). The problem is if I do get rejected and somehow I manage to take up just any job that comes along, then I won't even be able to apply for a MBA next year. Since I'd be working in an area which is not in line with my career aspirations. Would be really helpful if I could have some opinions.
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Re: need some career and MBA related advice [#permalink] New post 10 Nov 2010, 08:43
Having a job is overrated for applications I think, at least in the current economic climate. If the firm you work for closes unless you are a partner there is little you could have done.

I would apply to the schools you originally planned to anyway, otherwise you will continually wonder what could have been.

As for taking a job in line with your career aspirations, part of the point of an MBA is to do that. You are unlikely to be able to do so unless you work an internship (if you can, do). I would have concerns about how welcome a prop trader would be in Asset Management though (at least traditional asset management) - not sure how you will convince them you lost your belief in alpha.

Look for a job and consider each opportunity, much like you would if business school didn't exist.
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Re: need some career and MBA related advice [#permalink] New post 10 Nov 2010, 20:07
I have done b.tech in computer science...now i am confused about my post graduation....Please give me a advise either i should join MBA or M.tech....Which course beneficial for me...please give me your advises...
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Re: need some career and MBA related advice [#permalink] New post 10 Nov 2010, 20:24
3underscore wrote:

As for taking a job in line with your career aspirations, part of the point of an MBA is to do that.


My point in doing a MBA is exactly that. In my last 2 years, I have taken a couple of bad decisions (on hindsight) that has led me to here. Now I want to change all that and be more in control. I'm worried about a job only from the MBA point of view. If it was only for a job, at least financially I can still afford to wait. The only jobs available in finance are in back-office/middle-office, at least in my country. And yes, being from a prop trading background, you're pretty much not welcome anywhere I guess :)
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Re: need some career and MBA related advice [#permalink] New post 16 Nov 2010, 09:22
I don't think a lack of a job is going to hurt your B-School application, especially given that your entire firm shut down. Obviously there is nothing you can do about that, and given the current economic climate, job loss is fairly common and I don't think it's necessarily going to be a negative, but in your situation it's definitely not going to be a negative, as long as you explain it in your essays.

As far as taking a job vs applying for an MBA, obviously the first considerations are financial. If the finances are doable, I would say apply for the top 10 schools like you originally planned, or take a job in line with your desired career path. I wouldn't take a job that didn't advance my career unless I had no other option.
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Re: need some career and MBA related advice [#permalink] New post 16 Nov 2010, 09:38
It wasn't only abt the job that made me change my choice of schools. After being in trading for 2 yrs i went for my MFE. Then joined a trading firm after graduating in 2009 and changed jobs after 6 months, thinking I was joining a much better firm. But my timing was bad and we went down. So getting recos is also a problem for me. Though my boss from my last job has been very helpful and really gone out of his way to help me out. But realistically, the whole thing doesn't fit. Like the more time passes as I don't get an interview call, the more I keep thinking about the negatives of my application. If I don't get interviews with 15-20 ranked schools, I don't see why I should keep my hopes high for top 10.

Anyway, thanks for everyone's inputs. I still have hope.
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Re: need some career and MBA related advice [#permalink] New post 17 Nov 2010, 08:01
risin1phoenix wrote:
Hi Guys

Would need some serious advice. I've recently applied to 3 schools among the 15-20 ranked ones. Recently our firm shut down and we lost our jobs. I've a Masters in Financial Engineering and 3 yrs experience in prop trading. I'm in a fix as to whether I should just take up any job or I should wait for the one that is in line with my long term career goals in asset management. Obviously, a lack of job now is going to be seen as a huge negative for my application. Chances are high that I'll be rejected from all schools (that's the reason I applied to schools ranked between 15-20, as opposed to my initial plans of only top 10 when I still had my job). The problem is if I do get rejected and somehow I manage to take up just any job that comes along, then I won't even be able to apply for a MBA next year. Since I'd be working in an area which is not in line with my career aspirations. Would be really helpful if I could have some opinions.


Sorry to hear that, but don't worry you won't get dinged from any school because of the job loss. It's not your fault, unless the admissions committe are a bunch of savages, your application is fine.
Re: need some career and MBA related advice   [#permalink] 17 Nov 2010, 08:01
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