INSEAD and career changing

Question

My background is in project management (construction) and real estate development. And my goal is to get into private equity with the focus on real estate. I realized that it's very difficult to get into PE (immediately after b-school), hence my decision to look at banking, maybe do banking for a few years and then network my way into PE. Is banking the only way? I am thinking maybe investment management might be the other viable alternative but I am not sure. Given my age (I will be in my early early 30s), IB may not be suitable but I am willing to do it if it means that I will get a shot at PE. So the question is whether INSEAD can place me, as a career changer, into IB or IM. Please advise. I don't necessarily need to have a career in the US so please don't tell me that it's harder to do so if I pick INSEAD :-)

. And speaking of a US career, will doing the Wharton Exchange help considering I am US resident (no work authorization issues)? I am an admit for the Jan 11 intake, so this means that there will be a 2 month internship opportunity; however, I am wondering how the internship will work out in terms of coinciding with the structured ibank recruitment schedule/calender; I am worried that I might not have enough time to really research about job opportunities. With respect to IM, I may not need an internship, but getting one will certainly help. Please advise. In addition to INSEAD, I have an admit from Georgetown. Unlike INSEAD, and in terms of b-school pedigree, Georgetown is by no means a top tier school. However, Georgetown is a strong US top 20 school and it places well in finance, especially in IB. That said, I am still somewhat considering Georgetown even though I am leaning very heavily towards INSEAD. The only plus side about Georgetown is that it is a 2 year program which gives me more time considering that I am a career changer. Please advise guys and thank you in advance.

HankScorpio · Answer

Congrats on your INSEAD admit! Re IB for INSEAD, they have changed their messaging compared to previous years. Before it used to be a "if you have no experience prior to INSEAD, you will have to try really really hard and prep for IB, then you have a shot when the recruiters come in P2. We will counsel you early on and support you through the process." Now the message is more of a "we have a lot fewer placements in IB, but the upside is we have lots of placements in industry." This is the messaging I got from the marketing ppl during information sessions from attending sessions in Fonty last year and in my home country this year.

So, bottom line expectations they are setting are that IB is a tough market to crack nowadays. Europe is on quite the rollercoaster in the banking and investment sector, so this message is probably going to take a further downturn. Since you are an admit for both schools, I would suggest reaching out to both career services directly and ask them what your chances are. The two year program sounds appealing in terms of the investment sector - it gives you a bit more runway to wait out the recession. For INSEAD positives, the wharton alliance also is something you'll probably want to take advantage of ... Europe may be in for a bad ride and may not recover by the time you graduate, or by the time your internship rolls around. INSEAD also has the positives in terms of possibly accessing middle east and asia, but you should do some direct research on this re: connectedness of insead towards banking in those regions.

Good luck!

GoBruin · Answer

For me, I would take insead in a sec. GT is just not nearly as strong in the US. If you pursue INSEAD finance route, it will probably be IB through london for 3+ years, or through singapore IB/IM/VC. Either way it's definitely doable and much stronger than your options at GT.

HankScorpio · Answer

From a pure school level, I would definitely agree with GoBruins. If it were not knowing anything about your career path, and not knowing anything about the current economic environment, I would pick INSEAD in a heartbeat. But just knowing what's going on with the EU, and repercussions due to Greece, Spain, and Portugal, I am a less sure about the London banking route right now - your mileage may vary. The SG path is definitely worth researching - as I said, I know very little about asia & mid east banking vs INSEAD. The strength of China is bound to have a halo effect, the Emirates are on a tear now, Australia is as solid as Canada, and Korea (despite what's happening in the north) is becoming quite the powerhouse with talks of a FTA between China, Japan, and S. Korea. All of that sounds a lot more promising than what's going on with the US now and how sickly it is. If I had to place bets on where to be for banking, it would be asia #1, mid east #2, US #3, then London.

HankScorpio · Answer

One last bit of thinking to add ... should you decide to change career paths mid-MBA or after, INSEAD keeps your options significantly more open. You'll have more recruiting to take advantage of, and a stronger alumni network to tap into. A GT MBA is, well, a GT MBA. You'll just have to weigh its merits based on your research. I don't know if regionally you can squeeze more out of it.

Jackryan2 · Answer

Thanks guys. I appreciate the advice. It's never that easy considering I am planning on changing careers and planning on doing IB/IM.

I will have to look into finance possibilities in Sg and HK, maybe recruitment will be less structured at the Asian IB offices. Do you guys know anyone (preferably INSEAD alums) who is doing IM/IB in Asia now? I think I may be able to get answers from current students once I get access to MBA Connect but by then I may have to forgo $500 as a deposit to Gtown.

Thanks again guys!

MrBrown · Answer

Guys,

I'm a newbie and I'd greatly appreciate your (collective) advice - I'm a techie working in IT Services the past 6 1/2 years. I'm looking to move into a Technology Consulting and then Management Consulting role over the next 3-4 years. I'm also looking to do a 1 year MBA and am undecided over whether to apply to Insead.
My main concerns over this are:
My profile - Indian Engineer, solid academics, decent extra curriculars/sports and having an active interest in local civic administration. I worked with a non profit local body to help improve voter turnout for local body elections . I've also had decent international exposure in Central and Western Europe.
I've got a 650 GMAT and not at all sure that INSEAD will be a good bet with this score.
I'd really appreciate if you could give me some pointers on 
- whether boosting score is the best way forward
- if so, any tips/tricks for a re-tester?
- Use score and build an app - what would I focus on more?

Many thanks in advance

INSEAD and career changing

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards