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Writing a coherent Plan B as an MBA goal

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Intern
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Joined: 07 Jan 2013
Posts: 46
Location: India
Concentration: Finance, Strategy
GMAT 1: 570 Q46 V23
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Writing a coherent Plan B as an MBA goal [#permalink] New post 24 Jan 2013, 01:18
Hi,

I would like to know something about Plan B for your short-term goals. I have done a lot of digging to find out how to align your plan B goal to
Plan A goal so that they don't seem incoherent, but was not successful.

I believe most B-schools ask this so that they can ensure that the candidate is able to payback his finance(just a guess not sure about that :?, but that is what came to my mind as a reason for the question).

Say I am basically interested in investment banking - have done a lot of research on that so I know it is not the easiest to get into and future prospects look even worse from various sources I referred to - and know some dynamics of it but want to be in realm to know it better and that is why I want to learn the technical knowledge it is comprised of. So in this case, how can I articulate my plan B or to put it in other way how do technical knowledge acquired can help me in finding some other job.

Also I would like to know if I can answer the long term goal also in sync with my short-term goals as most long term goal of the candidates that I have come across seem forged. I am not being cynical, but I don't understand how do you think that far.
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Re: Writing a coherent Plan B as an MBA goal [#permalink] New post 24 Jan 2013, 08:19
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You just have to show some creativity - some every school wants in their candidates. If banking is your dream, then don't give up on that. Maybe your A plan is to work for a bulge bracket firm, but if that didn't pan out you would work at a boutique or middle market player. These are two very different jobs with different recruiting processes, making the second route a legitimate plan B. You don't need to think way outside your field for a plan B.
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Re: Writing a coherent Plan B as an MBA goal [#permalink] New post 27 Jan 2013, 16:51
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adg142000 wrote:
Hi,

I would like to know something about Plan B for your short-term goals. I have done a lot of digging to find out how to align your plan B goal to
Plan A goal so that they don't seem incoherent, but was not successful.

I believe most B-schools ask this so that they can ensure that the candidate is able to payback his finance(just a guess not sure about that :?, but that is what came to my mind as a reason for the question).

Say I am basically interested in investment banking - have done a lot of research on that so I know it is not the easiest to get into and future prospects look even worse from various sources I referred to - and know some dynamics of it but want to be in realm to know it better and that is why I want to learn the technical knowledge it is comprised of. So in this case, how can I articulate my plan B or to put it in other way how do technical knowledge acquired can help me in finding some other job.

Also I would like to know if I can answer the long term goal also in sync with my short-term goals as most long term goal of the candidates that I have come across seem forged. I am not being cynical, but I don't understand how do you think that far.


adg142000 wrote:
Hi,

I would like to know something about Plan B for your short-term goals. I have done a lot of digging to find out how to align your plan B goal to
Plan A goal so that they don't seem incoherent, but was not successful.

I believe most B-schools ask this so that they can ensure that the candidate is able to payback his finance(just a guess not sure about that :?, but that is what came to my mind as a reason for the question).

Say I am basically interested in investment banking - have done a lot of research on that so I know it is not the easiest to get into and future prospects look even worse from various sources I referred to - and know some dynamics of it but want to be in realm to know it better and that is why I want to learn the technical knowledge it is comprised of. So in this case, how can I articulate my plan B or to put it in other way how do technical knowledge acquired can help me in finding some other job.

Also I would like to know if I can answer the long term goal also in sync with my short-term goals as most long term goal of the candidates that I have come across seem forged. I am not being cynical, but I don't understand how do you think that far.


Most schools ask about a Plan B because they want to have realistic students who will end up as happy alumni and graduates. The ability to pay back loans is certainly part of that equation, but I don't think it's primary. After a couple fo financial busts (dot com bust and the Great Recession), schools realized that goals students enter b-schools with may not be realistic when they exit. Particularly after the financial crisis in 2008, then began to ask about Plan B.

So what would you do if you could not get the IB job of your dreams? Got to a smaller firm? Work in a corp finance position or perhaps business development in the industry where you have most experience? Would you try to use that position as a stepping stone to your IB position?

Realize that changing function or industry via an MBA is feasible, assuming the job market is cooperating. Changing both in your first post-MBA position can be very difficult.

And yes, your long-term goal should flow naturally from the short-term positions you are now aiming for. The long-term goals however can be more fuzzy.

You might be interested in:
.

Best,
Linda
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Linda Abraham
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Co-Author of: MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools

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Intern
Intern
avatar
Joined: 07 Jan 2013
Posts: 46
Location: India
Concentration: Finance, Strategy
GMAT 1: 570 Q46 V23
GMAT 2: 710 Q49 V38
GPA: 2.9
WE: Information Technology (Computer Software)
Followers: 0

Kudos [?]: 9 [0], given: 23

Re: Writing a coherent Plan B as an MBA goal [#permalink] New post 27 Jan 2013, 22:54
Thanks for your answers! Really appreciate it :)
_________________

Help with Kudos if I add to your knowledge realm.

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MBA Admissions Consulting
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Joined: 20 Apr 2003
Posts: 4836
Location: Los Angeles CA
Followers: 42

Kudos [?]: 339 [0], given: 64

GMAT Tests User
Re: Writing a coherent Plan B as an MBA goal [#permalink] New post 28 Jan 2013, 21:20
Expert's post
adg142000 wrote:
Thanks for your answers! Really appreciate it :)


You're welcome!
_________________

Linda Abraham
Accepted
310-815-9553

Co-Author of: MBA Admission for Smarties: The No-Nonsense Guide to Acceptance at Top Business Schools

Follow Accepted on Twitter
Friend Accepted on Facebook
Subscribe to Accepted's Blog

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