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Needs advice on job change

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Needs advice on job change [#permalink] New post 28 Jan 2014, 08:03
Hi,

I plan to apply to MBA in the fall this year for class of 2017 (or 16 if in accelerated programs) and I am faced with two choices that I need to make soon.

1. Stay with my current job, which is in consulting (large/2nd tier and reputable with all F500 clients, although I hate using the word "2nd tier/Non-MBB" it's what it is) - will have 2 years of WE in June since I started working at this company immediately after my UG.

2. Create/lead a new company in the US supported financially (relatively small amount: 8-10M~~) by my family's parent company based in Asia. While this may seem like "here is a few mill, see what you can do" type of thing, but it's really not. The company is not set up to rack in millions of profit in a short period of time but to grow at a healthy rate with a strong foundation (they actually expect losses in the first 2-3 years lol but look for upward trend). Of course I will receive support, supervision, and mentoring as I go along.

Once/if I am in MBA (in 2 years or so), someone else close in the family will come in and manages it. I can choose to return to this (if things work well) or go back to Asia and help with the parent company which is much larger and pressure will be more intense.

I would love the challenge of option 2. I believe I will grow more as a person, learn more as an entrepreneur and a leader, and take on more responsibility. However, my goal in 3-4 years is to complete a MBA at a respectable program to get me as ready as possible (although 2 years of MBA won't guarantee to make me CEO material but hopefully I can learn as much as I can and prepare myself to make more correct decisions than wrong ones) to actually help/lead the family business in Asia.

From what I have researched so far, it seems that top MBA programs value professional experiences at a large firm more than small startup that's not FB/LinkedIn/Twitter material.

My question is: should I stay with the consulting firm I currently work for to gain more professional experiences or if I choose option 2, how/if/will it hurt my MBA chances.

Thanks,
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Re: Needs advice on job change [#permalink] New post 29 Jan 2014, 02:11
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spearandpen wrote:
Hi,

I plan to apply to MBA in the fall this year for class of 2017 (or 16 if in accelerated programs) and I am faced with two choices that I need to make soon.

1. Stay with my current job, which is in consulting (large/2nd tier and reputable with all F500 clients, although I hate using the word "2nd tier/Non-MBB" it's what it is) - will have 2 years of WE in June since I started working at this company immediately after my UG.

2. Create/lead a new company in the US supported financially (relatively small amount: 8-10M~~) by my family's parent company based in Asia. While this may seem like "here is a few mill, see what you can do" type of thing, but it's really not. The company is not set up to rack in millions of profit in a short period of time but to grow at a healthy rate with a strong foundation (they actually expect losses in the first 2-3 years lol but look for upward trend). Of course I will receive support, supervision, and mentoring as I go along.

Once/if I am in MBA (in 2 years or so), someone else close in the family will come in and manages it. I can choose to return to this (if things work well) or go back to Asia and help with the parent company which is much larger and pressure will be more intense.

I would love the challenge of option 2. I believe I will grow more as a person, learn more as an entrepreneur and a leader, and take on more responsibility. However, my goal in 3-4 years is to complete a MBA at a respectable program to get me as ready as possible (although 2 years of MBA won't guarantee to make me CEO material but hopefully I can learn as much as I can and prepare myself to make more correct decisions than wrong ones) to actually help/lead the family business in Asia.

From what I have researched so far, it seems that top MBA programs value professional experiences at a large firm more than small startup that's not FB/LinkedIn/Twitter material.

My question is: should I stay with the consulting firm I currently work for to gain more professional experiences or if I choose option 2, how/if/will it hurt my MBA chances.

Thanks,



Actually option 2 COULD be potentially better and more interesting for you. It depends on a) What industry b) the company size (I mean the parent company) c) the growth potential d) what you would actually be doing.

Let's say that the profile of "heir apparant" if the firm is big enough can be much better and muuuch more interesting than "another dude who works in consulting", because if you are going to take over the family business, and if its pretty big, they have a guaranteed CEO graduate! So much better for them than yet another successful consultant! (not that that's bad either :) )
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Re: Needs advice on job change [#permalink] New post 29 Jan 2014, 11:43
You would probably learn a lot more leading a new company than spending more time in consulting. It is not going to hurt your chances of getting into a good MBA program, and will probably enhance your candidacy with a very different experience and learning from running your own business.

Good luck!

Christine


spearandpen wrote:
Hi,

I plan to apply to MBA in the fall this year for class of 2017 (or 16 if in accelerated programs) and I am faced with two choices that I need to make soon.

1. Stay with my current job, which is in consulting (large/2nd tier and reputable with all F500 clients, although I hate using the word "2nd tier/Non-MBB" it's what it is) - will have 2 years of WE in June since I started working at this company immediately after my UG.

2. Create/lead a new company in the US supported financially (relatively small amount: 8-10M~~) by my family's parent company based in Asia. While this may seem like "here is a few mill, see what you can do" type of thing, but it's really not. The company is not set up to rack in millions of profit in a short period of time but to grow at a healthy rate with a strong foundation (they actually expect losses in the first 2-3 years lol but look for upward trend). Of course I will receive support, supervision, and mentoring as I go along.

Once/if I am in MBA (in 2 years or so), someone else close in the family will come in and manages it. I can choose to return to this (if things work well) or go back to Asia and help with the parent company which is much larger and pressure will be more intense.

I would love the challenge of option 2. I believe I will grow more as a person, learn more as an entrepreneur and a leader, and take on more responsibility. However, my goal in 3-4 years is to complete a MBA at a respectable program to get me as ready as possible (although 2 years of MBA won't guarantee to make me CEO material but hopefully I can learn as much as I can and prepare myself to make more correct decisions than wrong ones) to actually help/lead the family business in Asia.

From what I have researched so far, it seems that top MBA programs value professional experiences at a large firm more than small startup that's not FB/LinkedIn/Twitter material.

My question is: should I stay with the consulting firm I currently work for to gain more professional experiences or if I choose option 2, how/if/will it hurt my MBA chances.

Thanks,

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Re: Needs advice on job change [#permalink] New post 29 Jan 2014, 12:37
Hi Jon,

First, thank you for the kind reply and wonderful insight.

I would like to clarify for a few things and see if they change your views.

1. My family-business is by no means super big or famous. It's considered mid-sized (above $20M and below $70M in annual revenue). It has potential for growth (construction, architecture and engineering) but it's not in flashy/trendy industries such as tech/medicare.

2. What I will be doing will be in real-estate and properties so it's not exactly google or amazon.

3. I have taken multiple leadership roles in UG and I have founded a non-profit that organizes trips to provide assistance to underprivileged schools in third-world countries. HOWEVER, I have encountered plenty of setbacks and made many wrong decisions (upon self-reflections afterwards). I realize that I still have much to learn and improve if I were to take on a significant leadership role and eventually the leader at the parent company.

How will a non-trendy and non-F500 family business impact what you suggested me earlier? I think I am close to take option 2 but I'd love to hear what you have to say.


Thanks in advance!
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Re: Needs advice on job change [#permalink] New post 29 Jan 2014, 12:39
[quote="MarvelAdmissions"]You would probably learn a lot more leading a new company than spending more time in consulting. It is not going to hurt your chances of getting into a good MBA program, and will probably enhance your candidacy with a very different experience and learning from running your own business.

Good luck!

Christine


Thank you Christine! I hope to make that decision very soon!
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Re: Needs advice on job change [#permalink] New post 31 Jan 2014, 00:01
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applebees wrote:
Hi Jon,

First, thank you for the kind reply and wonderful insight.

I would like to clarify for a few things and see if they change your views.

1. My family-business is by no means super big or famous. It's considered mid-sized (above $20M and below $70M in annual revenue). It has potential for growth (construction, architecture and engineering) but it's not in flashy/trendy industries such as tech/medicare.

2. What I will be doing will be in real-estate and properties so it's not exactly google or amazon.

3. I have taken multiple leadership roles in UG and I have founded a non-profit that organizes trips to provide assistance to underprivileged schools in third-world countries. HOWEVER, I have encountered plenty of setbacks and made many wrong decisions (upon self-reflections afterwards). I realize that I still have much to learn and improve if I were to take on a significant leadership role and eventually the leader at the parent company.

How will a non-trendy and non-F500 family business impact what you suggested me earlier? I think I am close to take option 2 but I'd love to hear what you have to say.


Thanks in advance!


Hey there,
You got it. Well first of all it doesn't have to be HUGE (but bigger is better), and your company sounds like a nice solid mid-sized company, which probably is a bigger deal than most jobs you'd pick up still. How many workers do you have? Would you be managing/leading? If so, that's really a big added bonus, and would look very strong. I'd say don't worry about things in terms of the MBA because no choice is the wrong one. Instead choose what you REALLY would prefer for "life/career" reasons, and then the MBA thing figure itself out.

Best,
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Re: Needs advice on job change [#permalink] New post 03 Feb 2014, 07:07
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I agree with Jon here - do what's right for you, not what you THINK an MBA program wants to see. What it will all come down to is how you weave everything together. You already have the consulting brand on your resume, and then (hypothetically) you left to work on option 2. So why did you do that? What was your thought process? Did it turn out like you expected/hoped for? After doing that, why is an MBA right? Why is it right NOW?

For what it's worth, it seems you're looking for us to tell you that option 2 is the right one because in your heart you've already chosen to do it :). Am I close on that? So if it helps, I think option 2 is better too!

Bhavik
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Re: Needs advice on job change   [#permalink] 03 Feb 2014, 07:07
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