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Newbie question [#permalink] New post 31 Jul 2008, 06:37
Hi Everyone,

I just joined the board today AND of course I have a few questions. I want to wish everyone the best of luck throughout the entire 2009 application process.

Here's a bit of some background on my situation.
Age: 25
GMAT: 680
Work Exp: 1 year operations at major I-bank / currently working as an Analyst on the Buyside with a FoHF (a bit more than 2 years)
Other: Currently awaiting my CFA Level II results (read sweating bullets)

Problem: Getting laid off soon

Question: Is 680 too low for top 20 schools? And am I screwed being unemployed?

My # 1 choice is NYU, followed by Yale, Duke, Columbia (definitely not in their range)

Thanks guys!
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Re: Newbie question [#permalink] New post 31 Jul 2008, 06:58
A 680 will be enough if you execute well and have some luck (this is going to be a bad year to apply). I don't know about your GPA, but your work ex seems fine for top 20. Besides getting laid off, what is your reason for pursuing an MBA? I think a key to your success will be your ability to positively spin your FofHF experience since that is a bit unusual for b-school. Do you want to get into a HF? Think this over clearly.

I don't think they will hold unemployment against you -- everyone knows the industry is brutal right now and that lots of good people are being shown the door.

Good luck on your CFA results... sweating bullets is right.
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Re: Newbie question [#permalink] New post 31 Jul 2008, 07:01
680 is not too low, but you might also consider the pool of applicants you will be applying with. You will be with a number of other recently laid off I-Bankers, and others that may have not been laid off, but are being sent back to school by their firm for promotion within the firm. How do you compare against those individuals? Depending on how much you studied for the 680, if you can score that, you can score in the 700s. I suggest that you take it again and SOON! You don't have much time. You will also want to concentrate on your Extra Curricular activities because those can set you apart. I won't comment on specific schools because I'm applying too and am in the research stage of my applications/essay writing so I really have very little knowledge in that area to base advice upon.

What is your goal post-MBA? Do you want to go back into I-Banking?

ValueAddict wrote:
Hi Everyone,

I just joined the board today AND of course I have a few questions. I want to wish everyone the best of luck throughout the entire 2009 application process.

Here's a bit of some background on my situation.
Age: 25
GMAT: 680
Work Exp: 1 year operations at major I-bank / currently working as an Analyst on the Buyside with a FoHF (a bit more than 2 years)
Other: Currently awaiting my CFA Level II results (read sweating bullets)

Problem: Getting laid off soon

Question: Is 680 too low for top 20 schools? And am I screwed being unemployed?

My # 1 choice is NYU, followed by Yale, Duke, Columbia (definitely not in their range)

Thanks guys!

_________________

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J Allen Morris
**I'm pretty sure I'm right, but then again, I'm just a guy with his head up his a$$.

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Re: Newbie question [#permalink] New post 31 Jul 2008, 10:21
Thanks guys.

To answer a few questions:

My GPA is not a problem. I graduated with an overall GPA of 3.6 and graduated with the highest GPA in my major (Finance Major / Econ Minor). Went to a slightly better than the typical middle of the road college. Think average SAT's 1300.

I have been planning to apply for MBA Admission for quiet some time. My initial vision was to work through the current bonus season and leave in February to concentrate on hopefully my final level of my CFA studies. Obviously this has accelerated my "exit strategy." I am still employed but had talks about a 9/30 or 12/31 exit. I am trying to hold out with management as long as I can until they drag me away from my desk.

I intend on using an MBA to position myself for a role on the buyside as a securities analyst (versus a FoHF analyst). I am very passionate about investing (Value investing to get specific). And I can articulate this very well in an essay as to the "how, why, and what's so interesting about" a career as a analyst/PM.

I-banking is not my choice to career post-mba although I realize that most MBA's that concentrate in Finance view it as the holy grail.
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Re: Newbie question [#permalink] New post 31 Jul 2008, 13:13
If you can last until 12/31, you probably do not have to indicate that you are unemployed; I don't think anybody asks if you plan to be employed through the start of school. I think it's legitimate to just list your dates of employment if you are still employed. If you apply in R1, even a 9/30 exit might work out alright.

Your grades and academic background are right in line for those schools. Your GMAT is definitely on the low side with averages moving higher at most of the top schools. 710 or 720 will probably be average for next fall with a middle 80% range starting at 670 or 680. If you can get another 30 points and hold your job through the end of the year, I'd say your chances are good at the schools you're looking at. Even if you lose your job, adcoms will know that the economy and industry are at least partly to blame. Unless 680 is the best you can do, you're really not maximizing your chances if you don't try to improve a bit.
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Re: Newbie question [#permalink] New post 01 Aug 2008, 09:25
pelihu wrote:
If you can last until 12/31, you probably do not have to indicate that you are unemployed; I don't think anybody asks if you plan to be employed through the start of school. I think it's legitimate to just list your dates of employment if you are still employed. If you apply in R1, even a 9/30 exit might work out alright.


I know that we're talking about "getting in" for the time being; but would the unemployment be viewed negatively for recruiting?
Re: Newbie question   [#permalink] 01 Aug 2008, 09:25
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