You are going to have an issue getting into a top 20 business school for a number of reasons. The least of which may be your 680 GMAT score. It is a low percentage play to tell an admissions committee that you want to move from IT consulting and into banking - a field you have no meaningful experience within. Worse, it will make you look like you have very little understanding of how the world works. I hate to say it, but it could make you look like you are clueless.
Think of it this way - the admissions committee view. There are a lot of applicants who want to go into banking. The vast majority will have banking experience and even then, it will be a challenge to get into a top business school as the admissions committee evaluates all aspects of their candidacy. They will look at you and immediately realize that you lack the professional credibility the other banking candidates possess.
The recruiters view is a similar view to the how the admissions committee would view your candidacy. Sure, you could get a few banking interviews lined up for an internship, but why would a recruiter or a firm place their bets on you? There are plenty of banking candidates and a fewer number of highly sought after banking roles. You have to be a rockstar with a history of prior success in the industry. When you also consider the costs associated with sponsoring an international H1 visa (in the US), the odds will most likely favor another applicant.
You also have to understand the inroads that a school has into the banking industry. You can answer your own question by doing a little research. Take a look at the employment reports for each program you list above. What percentage of applicants go into banking or a related financial services industry? Again, I think this point is moot because even if a school does send a significant portion of its grads into banking, you stand little chance of being among this group. This would be across a European or US school.
You need to focus on new goals - at least realistic goals that you can lay out to the admissions committee. There is no problem with switching over to the business side, but that does not mean taking a leap of faith and telling them you want to go into banking.
With respect to a Masters in Management, are you referring to a complete program or a few courses? With respect to what would be more effective, this is a question that only you can answer.
To me, it seems that you do not have a clear understanding of what you want to do and how an MBA can get you there. Which is fine at this point in the application process and I am glad you asked them. The questions you are asking concern a direction that you cannot go down. Do more homework, readjust your goals and then hit me up with more questions.
My name is Adhithya and iam from India.I have been working Tata Consulatncy services(an IT major)since the last 1.3 years.I want to switch over from technical side to investment banking due to which i decided to give GMAT.Scored a horrible 640 last october but improved it upto680 (q=47,v=35) on feb 6.
I have a strong academic background.I have always been among the toppers(most often stood first)in my school and college and I topped my engineering stream as well.I stood 14th in my state during my 12th exams.
Iam quite aware that my low workex and low gmat(standardised tests have been my bane always) can seriously bring down my chances.But still want to get an opinion from you.
1)Do i stand a chance in US top 20 bschools or for that matter european B-schools such as IE-spain,HEC paris,IESE etc.
2)I heard about master in managemnet courses.Are these more effective than an MBA and if yes,do i have some chances in those courses.
Thanks in advance
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