how important is the post-Mba internship?

Question

I know this is stupid question, post-mba internships are always important, but my question is in different context. I have been searching Bschools for some time now. I read some info on 1 year MBA programs and found out that internships are not part of the program. The Schulich and Simon bschools both are 18 months programs but those too don't have internship included. So my question is if i do mba from these schools will i get job in some reputed firms, as I have heard that most of the time internships are converted into full-time job positions. I am in dilemma of choosing between 1yr Mba program and 2 yr Mba program. Help me out please.

jontron · Answer

It depends on why you are pursuing an MBA. If the MBA is a checkbox in your company that is holding you back from advancing, 1 yr programs are great. You go in, come out, and stay with your current company or industry. If you are a career switcher, it is hard to see the benefits to doing the 1-yr especially in traditional post-mba industries such as banking/consulting if someone does not have prior industry experience.

CriticalSquare · Answer

Hi there,

Jontron put it very succinctly. If you're looking to switch careers - an internship is great!

Another component of the 1 year program is how they structure core classes and electives. So, if you're looking to specialize in any particular field or want to explore new topics, you may have less time to do that!

Bhavik

daviesj · Answer

Thanks Jontron and Bhavik for your prompt reply.
Yep, I am looking for a career change from IT consulting to Finance, but I want to do it with one yr MBA. so is internship absolutely necessary to get perfectly adequate full time job in finance?

CriticalSquare · Answer

Good morning,

Unfortunately, the real answer is "it depends" and I know you hate hearing that! I'll put forward a couple of options below. Some might be more likely, some less likely, some might not even match your goals. But they'll at least give you the option to pick the ones that do align and we can discuss those in more detail.

Before I do that, one of the most difficult pre-MBA careers to switch out of is generally IT. Some of this is rooted in stereotype (which may be very accurate depending on the type of IT you do) and the exposure you probably had to larger business problems. Unless you're one of the few that did strategy within IT, most of what a recruiter would think probably isn't that far off the mark. So essentially, wherever you want to switch to, you have to make a case. And that case is, "compared to that other guy over there who was already finance or ex-consulting or in a general position at a business, this is why you should pick me". You can make that case in a few different ways:

Personal network: sure, MBA programs have a great established recruiting process but if you feel you can't quite make the case above when compared to your entire graduating class, do you have a strong enough personal network to get you staffed where you want to be? The answer to this could easily be no - at this stage in your career your network, even if strong relatively, is still starting out. It's possible, however, that you have a few highly placed people you know in finance. That could be an option.

MBA network: there are many ways to plug into the MBA network. Unfortunately, with the 1 year program, these options are inherently limited. So for example, two great options are clubs focused on finance (they may host speakers, hold events, etc.) or working directly with professors within that field (helping them with research or being a TA). Both of these strengthen your exposure and establish you as someone not messing around. Essentially, it serves to differentiate your resume in the eyes of the recruiter either through academic dedication or through sheer number of interactions.

Career Fair: last, but not least, is the standard route. You go to the career fairs your school hosts. Here, your resume must make the case for why you versus the stack of other resumes. The clearest way to make a strong case for the "career switch" story is to say, "I'm really dedicated, look at this internship and how cool it was and all the things I learned!".

If you want to go into corporate finance, you might be ok with a 1 year program using one or some combination of the above options. However, if you're looking at investment banking, PE, or hedge funds, then no. Your chances diminish drastically in a one year program. Sorry, not trying to be negative but that's the truth.

So - which path are you looking at?

Bhavik

mappleby · Answer

I think CriticalSquare covered it pretty well but I will re-iterate his main point as well. This is not a good plan. The 1-year program is not meant for career switchers and switching into a finance job is going to be almost impossible with just IT experience and a 1 year MBA. The recruiting process for Investment Banking is pretty well set. You start recruiting in the fall of your first year for a summer associate position. At the end of the summer associate internship they extend full-time offers to those who they liked. Some accept and some don't but most of the spots are filled with this process. The banks then recruit to fill whatever full-time positions are left. So you would have to start recruiting for full-time positions in the fall. You will have no finance work experience, no experience with the recruiting process and you will just be starting out your MBA courses. At the same time you will be competing with students who have already completed a year of their MBA, already done some sort of internship and already been through the recruiting process at least once. I'm not going to say it is impossible but you are certainly stacking the deck against yourself.

daviesj · Answer

Thanks mappleby and Bhavik for your detailed explanation. That helped a lot. 1 yr MBA is now out of my mind.

how important is the post-Mba internship?

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