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Learn what truly sets the UC Riverside MBA apart and how it helps in your professional growth
22 May 2011, 00:53
Kudos
Bookmarks
Hi all:
I am coming to a point in my life where I need life-changing advice, who would be better to give it than total strangers?
I am a 24 year old male. I graduated with my BBA (Accounting and Finance) from Wayne State University (regional school, Detroit, MI) in May 2010. I graduated with a measly 2.5 GPA. Shortly after (Fall 2010), I entered the MBA program, also at Wayne State University. I gained acceptance due to a decent GMAT score (only 570, although I've attained upper 600s in practice tests). I've been taking a full load of classes, and have 24 credit hours (including Spring/Summer semester). In my MBA classes, I am proud to say I have a 3.6 GPA!
With that being said, I am at a career cross-road. I do not know which route to take (whether Accounting or Finance). For the longest, I did NOT want to go into Accounting. This past March, I started working as a Staff Accountant for a retirement community. My views for Accounting have since changed, and day-by-day, I am appreciating the occupation more. Unfortunately, this job is only temporary, and may end in the next 3 to 4 months.
I've read many articles about MBA graduates earning nearly $100K salaries after graduation. What are the salary expectations for someone with little experience such as myself? None of the articles differentiate grads with experience from those with none. Furthermore, I know that Wayne State University is a Tier-2 school Nationally Ranked, but Tier 1 as far as Research Universities (along with UM-AA and MSU). It's not the best, but not the worst.
Maybe someone on here can analyze my likes and dislikes and determine what an ideal career would be:
Likes/Would Like:
***Stock market trading (part of a fantasy trading league with a few buddies)
***Work from home/independent opportunities (would be cool, but not a requirement)
***Staying in the Detroit Metro Area/South East Michigan
***Financial Analyst?
***Career in Investment Banking?
***Would love a PENSION! I know, hard to come by these days, but I would love to start in an organization now while I'm young, and put in ~20 years and work somewhere else.
Dislike/Wouldn't Like:
***Moving away from Michigan (need to take care of elderly parents)
***Jobs making less than $60K. Sadly, I make half that now. Although it pays the bills, I feel like a college graduate and soon-to-be MBA graduate is worth more than that!
***Sales
After failed applications with the automotive manufacturers and the Big 4 accounting firms, the job outlook (especially one making decent money) is very discouraging. I do not want to miss the Big-4 firm boat, as it is very hard to gain employment if you haven't done an internship with them. I've looked into other jobs such as Financial Advisor, seems like something I would like to do, but hate giving the sales pitch to people.
Please help!
Thanks.
Jon.
I am coming to a point in my life where I need life-changing advice, who would be better to give it than total strangers?
I am a 24 year old male. I graduated with my BBA (Accounting and Finance) from Wayne State University (regional school, Detroit, MI) in May 2010. I graduated with a measly 2.5 GPA. Shortly after (Fall 2010), I entered the MBA program, also at Wayne State University. I gained acceptance due to a decent GMAT score (only 570, although I've attained upper 600s in practice tests). I've been taking a full load of classes, and have 24 credit hours (including Spring/Summer semester). In my MBA classes, I am proud to say I have a 3.6 GPA!
With that being said, I am at a career cross-road. I do not know which route to take (whether Accounting or Finance). For the longest, I did NOT want to go into Accounting. This past March, I started working as a Staff Accountant for a retirement community. My views for Accounting have since changed, and day-by-day, I am appreciating the occupation more. Unfortunately, this job is only temporary, and may end in the next 3 to 4 months.
I've read many articles about MBA graduates earning nearly $100K salaries after graduation. What are the salary expectations for someone with little experience such as myself? None of the articles differentiate grads with experience from those with none. Furthermore, I know that Wayne State University is a Tier-2 school Nationally Ranked, but Tier 1 as far as Research Universities (along with UM-AA and MSU). It's not the best, but not the worst.
Maybe someone on here can analyze my likes and dislikes and determine what an ideal career would be:
Likes/Would Like:
***Stock market trading (part of a fantasy trading league with a few buddies)
***Work from home/independent opportunities (would be cool, but not a requirement)
***Staying in the Detroit Metro Area/South East Michigan
***Financial Analyst?
***Career in Investment Banking?
***Would love a PENSION! I know, hard to come by these days, but I would love to start in an organization now while I'm young, and put in ~20 years and work somewhere else.
Dislike/Wouldn't Like:
***Moving away from Michigan (need to take care of elderly parents)
***Jobs making less than $60K. Sadly, I make half that now. Although it pays the bills, I feel like a college graduate and soon-to-be MBA graduate is worth more than that!
***Sales
After failed applications with the automotive manufacturers and the Big 4 accounting firms, the job outlook (especially one making decent money) is very discouraging. I do not want to miss the Big-4 firm boat, as it is very hard to gain employment if you haven't done an internship with them. I've looked into other jobs such as Financial Advisor, seems like something I would like to do, but hate giving the sales pitch to people.
Please help!
Thanks.
Jon.
23 May 2011, 07:14
Kudos
Bookmarks
It's great that you're doing well in your MBA classes!
Right now you're probably not finding any MBA articles which show experience differentiation because most quality programs are comprised 100% of students with a job history.
You're in a tough situation with almost everything stacked against you. Recently low undergraduate GPA, a non-standout GMAT, unranked MBA program, zero work experience, economy is still recovering, and you live in Detroit!
So, with that said, my advice is:
1) Network your ass off. Meet with a mock interviewer and really practice your face-to-face pitch. And to quote Boiler Room, this is a contact sport - the more people you contact, the better you'll do.
2) Find something you can build up which sets you apart and ties-in to your interests. For example, start an investment club at Wayne State if they don't have one.
3) Don't mention your GMAT score. Leave your undergraduate GPA off the resumes you send in to companies above your head. Don't mention investment banking. Do mention your interest in the markets.
4) Figure out a way to personally resolve your interests in the markets and IB with your pursuit of a pension. That sits inconsistent with me. How come you don't want to manage your own IRA?
5) Be happy with a job that makes anywhere from $40k up if it'll be good experience. Use it to move later, but you need to get in the game.
Hope some of that helps, good luck!
Right now you're probably not finding any MBA articles which show experience differentiation because most quality programs are comprised 100% of students with a job history.
You're in a tough situation with almost everything stacked against you. Recently low undergraduate GPA, a non-standout GMAT, unranked MBA program, zero work experience, economy is still recovering, and you live in Detroit!
So, with that said, my advice is:
1) Network your ass off. Meet with a mock interviewer and really practice your face-to-face pitch. And to quote Boiler Room, this is a contact sport - the more people you contact, the better you'll do.
2) Find something you can build up which sets you apart and ties-in to your interests. For example, start an investment club at Wayne State if they don't have one.
3) Don't mention your GMAT score. Leave your undergraduate GPA off the resumes you send in to companies above your head. Don't mention investment banking. Do mention your interest in the markets.
4) Figure out a way to personally resolve your interests in the markets and IB with your pursuit of a pension. That sits inconsistent with me. How come you don't want to manage your own IRA?
5) Be happy with a job that makes anywhere from $40k up if it'll be good experience. Use it to move later, but you need to get in the game.
Hope some of that helps, good luck!
25 May 2011, 06:55
Kudos
Bookmarks
I agree with what method said. You may need to readjust your salary expectations. The $100K average is skewed by the HBS, Stanford and other top school grads, who have significant pre-MBA work experience (often 3-7 years worth) and go to work for top tier banks, PE/VC shops or consulting firms after graduation. The hard truth is that many of these opportunities are almost exclusively available to students at the top nationally/internationally ranked programs. Here's an article that gives a bit more realistic picture of MBA pay:
https://www.mymbacareer.com/mba-facts/mba-salary.html
So, getting past that doom and gloom, what can you do? Well first prioritize your list of wants. Which would you be willing to give up in order to get others? Would you be willing to move from Detroit for an IB job? Would you be willing to give up on IB if you could work from home? etc. There is no perfect job so you're going to have to make tradeoffs, especially in this economy. Once you have that list prioritized it will make it easier to choose among job opportunities and to see what your real dreams are. Then think about what skills and experience you'll need to get that dream job (Vault and Wetfeet guides can be helpful here) and don't be afraid of taking a less than ideal job (including a job that pays less than $60K which is an artificial and probably unrealistic barrier) if it gets you more of those experiences. Beyond that, do whatever you can to meet/talk to/network with people in your ideal field. Hit up friends, family, classmates and alumni, anyone who you can think of that can make an introduction.
https://www.mymbacareer.com/mba-facts/mba-salary.html
So, getting past that doom and gloom, what can you do? Well first prioritize your list of wants. Which would you be willing to give up in order to get others? Would you be willing to move from Detroit for an IB job? Would you be willing to give up on IB if you could work from home? etc. There is no perfect job so you're going to have to make tradeoffs, especially in this economy. Once you have that list prioritized it will make it easier to choose among job opportunities and to see what your real dreams are. Then think about what skills and experience you'll need to get that dream job (Vault and Wetfeet guides can be helpful here) and don't be afraid of taking a less than ideal job (including a job that pays less than $60K which is an artificial and probably unrealistic barrier) if it gets you more of those experiences. Beyond that, do whatever you can to meet/talk to/network with people in your ideal field. Hit up friends, family, classmates and alumni, anyone who you can think of that can make an introduction.
