BrainFog wrote:
Hello all,
Lets for the purpose of discussion assume I get into both these schools.
I'm a non-EU (South Asian) student
WE: 6+ years (including 1 years with a Fortune 500 Financial Firm)
GMAT: 700 (though it can be improved as I have a relatively low score in Quants, but I'm not Indian so that 730 average profile doesn't apply)
CFA Level 2 Pass (If I start my MBA in Sep 2016, I plan to sit in Level 3 exam in June next year and I'm really hopeful I'll pass it)
Undergraduate from a top 10 British Uni
For the past five years I have been involved in family business at important managerial positions but now I want to switch to a career in Finance & Investments, in particular fund management. Even if I do not go into fund management straight after MBA, I'm open to taking a long route but investment management is what I see myself doing in the long-run. In addition to my regular work life I have been doing some freelance equity research for over 2 years now. I'm good in financial modeling. So I would like to think that I have acquired at least minimum skills required for a career in finance. I believe MBA can help me with this transition and I would like to work in Europe or the U.S. post MBA at least for a few years. At the moment I'm considering INSEAD (Jan 2016 intake) and Booth, Wharton, Stern, Columbia, Kellogg and LBS (for Sep 2016 intake).
I really like INSEAD's program and its diversity. I highly value INSEAD's experience and I think its the most international MBA program. But I have strong reservations about its placement in finance especially for career switchers and Non-EU students who require work authorization. This factor is very important for me. INSEAD has its advantages too, especially its one year format as age is a factor for me. If I start MBA in 2016 at Booth or at any other top Finance school I'll be in my early 30s at matriculation, so I don't know how adversely it can affect my chances of landing a job in the U.S. post-MBA. On the other hand I can start INSEAD in January 2016 and finish in December 2016. About LBS, I have a feeling that age might not be that big a factor.
I'm sort of in a research/confusion phase, so I'm looking for some valuable inputs. I would really appreciate expert opinions, especially those who have been in my shoes. Even if you're not I would really like to read your opinion. Any finance industry placement statistics for international students who require work authorization would be great.
Thanks!
Hey,
I was in a similar position last year. I got into both, Booth and INSEAD, and had a hard time deciding between the two (you can search for my old posts). I thought i might want to try a career in finance, but I wasn't completely committed to it. I also really wanted to work in Europe post-MBA, but I had the same concerns as you - that INSEAD is questionable at placing students that require work authorization. I think what speaks to the power of Booth is that I've never seen a financial statement before coming here, and I successfully secured a summer internship in investment banking, and on top of that it's going to be in London! As of right now I'm hitting all the points I was hoping to hit coming in. Booth is very serious academically, more so than I was expecting, and you can find very advanced finance courses here. If MBA-level courses are not enough for you, you can always take a PhD-level course too.
You should be aware, though, that recruiting for investment management is incredibly competitive even at a place like Booth, and a summer internship does not always translate to full time offers (I actually heard the conversion rate is something like 30%). There were definitely people with suitable backgrounds that couldn't get an internship in IM this year. I think it may also be a bit harder for international students to get an internship in the US too due to the intangible cultural differences...
Also, if you want to expedite your studies there's a possibility to graduate Booth in 18 months if you take 4 classes each quarter, and if you don't want to do an internship and keep studying through the summer I suppose you can even finish in 15 months. Still not quite the 10-12 months of INSEAD, but Booth is a higher quality experience, I think.