jainan24 wrote:
GMAT : 700 (Q 49, 90%, V 36, 80% overall 92%)
Background: Undergrad, Chemical Engg., IIT New Delhi, 3.67 GPA
Went straight to grad school to Rensselaer Polytech Inst (Top 25 Engg school) in 1996 (GRE was 2100, actually I am surprised that my GMAT is also in the same ratio)
and finished PhD in 2001 (4.0/4/0 GPA and lot of publications).
Came to IBM Research in Yorktown Heights, NY, very cool place but did not get the group and project I was hoping for, moved around between groups learning lot of new stuff but once you are a specialist and PhD, you want to do what you like. Anyhow worked in IBM till this June and got totally frustrated and left. Now working in a start up Solar Cell Company in New Mexico (kind of got into a hot field). But I love East Coast and my wife is still there in a job so want to apply in East Coast schools.
Now why MBA after PhD:
During IBM job, I got really interested in investing stocks. I had money saved up. Even took risks and borrowed money on credit cards to invest. I doubled my money in 2 years and that too with the full time job. Used to wake up 4 AM in morning to watch CNBC and follow markets, used to set up autotrades etc.
Any way I think I am made up for finance and given my strong technical and mathematical background can get into either Investment Banking, VC etc. but I need a good MBA b4 that. I could have applied earlier but I was waiting to get my Green Card (which I shud I have applied for earlier anyway)
I also have ex-curr experience: was the President of Cricket Club at RPI, helped my club win a big Inter college tournanemt, helped increased funding of the club and membership. Have done voluntary work for various organizations (helping seniors locally). Recently helped to make a cricket ground in CT and got TV and press coverage (the whole team got it, not just me individually)
Do I have chances in Wharton, MIT, NYU, Yale, Cornell, CMU, Columbia
jainan24,
I see two potential problems in your bid for the top schools: unclear how much leadership you've had in your career or extracurricularly and your reason for wanting to move into finance could backfire on you. First, regarding leadership, if you've got leadership stories highlight them. Don't emphasize the PhD; it's impressive but it means you weren't in the workforce and they may label you a "techie" if you push it too much. Regarding the "I love investing" theme, I would emphasize your countless conversations with IB and VC people already practicing in the industry, how you learned so much from them about what they do all day (if they have MBAs mention that too). Definitely can the stuff about maxing the credit cards to buy puts on DotBomb.com while everyone was asleep. You want to seem mature and savvy about the career change.
Assuming there are no red flags you didn't mention, then you have a decent chance at Cornell, Yale, and CMU and a slight chance at Wharton, MIT, CBS, and NYU. How you execute on the goals statement and the leadership profile will be critical.
Good luck,