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Profile Evaluation: Front Office to Failed JV

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msnlivees
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Profile Evaluation: Front Office to Failed JV [#permalink] New post   Updated on: 11 Aug 2011, 21:46
I like how you're blunter (but still supportive) about our chances to make it to our target list of B-schools, and honesty is what I need right now to realistic assess my chances and review my target school list. Would love to hear your insights. I start out with a typical Ivy finance background until two years ago I chose to branch out on a JV that although ultimately failed, still gave me a taste for being my own boss.

In terms of what demographic I belong to: I'm Chinese, Male, 30.
(I recognize the fact that I'm in a competitive demographic and I'm a bit old, born late 1981)

Academics:
• GMAT: 750 (Q50, V42)
• GPA: 3.4 (Ivy League School) Double Major in Economics and a Humanities Major

Professional Experience:

Prior to Uni Graduation:
A) Selected for OCS and commissioned as an Infantry Officer in the Armed Forces
(My country has compulsory 2 year national service requirement)

B) Funded Ivy tuition with online (Ebay) and campus reselling of electronics. Grossed nearly 10-15K in sales per month with margins of over 40%. (this was before everyone and their grandmothers were reselling Dell computers and electronics on Ebay)

Post Undergraduate School:
A) 3 years in a front office role in a top tier investment bank in NY (however not a quant role) which also included constant interactions with CFOs, Corporate IR, and Hedge Fund / Long-only PMs and analysts in both the US and Asia Pac. Evaluation Reviews each year were within the top quartile of my peer group and received top tier bonuses in the two seasons I was eligible for.

B) Left IB in late 2009 to start a Import/Export (mainly high demand electronics) JV with PRC nationals and based in Shenzhen. Grossed over USD450K revenue in 2010 but due to changes in regulatory and tax environment (basically we got into a little conflict with a bureaucrat and he basically forced us out), we amicably dissolved the venture in June 2011.

Extracurricular:

College:
- Business manager in charge of fund raising activities and maintaining operating expenses for Chinese Orchestra
- Organized a concert-fair (concert with accompanying food and ticket sales going back into group coffers) with audience participation of over 200 students.
- Ran a resell business as stated above

Post College:
- Mentored New Hires to adopt supporting roles for senior staff at IB
- Joined company internal outreach program to counsel NY high school seniors on how to apply to college
- Events OIC (Officer-in-charge) of my reservist unit, organized social night for over 400 strength Battalion post training.
- consulted and helped co-ordinate changes in School Act for a private school. (Oh well, to explain this my mother was on the board of directors)

Professional Certifications:

1. Currently studying for CPA as I want to add accounting/regulatory knowledge into my skillset.
2. Series 7 / 63 Certification (however no longer valid as I am no longer with the firm)

Fluent in English, Chinese and Korean, currently studying Japanese.

*** Continued in next post due to character limit ***

Originally posted by msnlivees on 11 Aug 2011, 13:14.
Last edited by msnlivees on 11 Aug 2011, 21:46, edited 2 times in total.
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msnlivees
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Re: Profile Evaluation: Front Office to Failed JV [#permalink] New post   11 Aug 2011, 13:14
Short Term Goal:
I feel I rushed into the JV because of a unique opportunity and while we initially started with a business plan and projected milestones that we were supposed to adhere to, once we got down into the trenches, it dissolved with the focus on day-to-day affairs and constant putting out of fires. Want to go to a business school to compare experiences and relearn entrepreneurship principals as I feel I did things a little haphazardly due to inexperience.

Long Term Goal:
To restart a venture playing on luxury good consumption by the Chinese. The demand is insane, the problem is on the supply side and getting it through customs and government red-tape which is also easy if you don't attract official attention but insane once you do...

Target Schools:

Wharton, Harvard, Columbia, Sloan, Kellogg, NYU, Ross, INSEAD, Duke, Tepper

Now I know many on my list are stretches for anyone just because they are what they are, but do you think its worth my time to apply at all or does my choice to go out of finance means I have to readjust my expectations. I'm hoping the differentiating characteristics (officer experience in the army, embarking on a JV even if it did ultimately "fail", and my constant entrepreneurship experiences since college) will help distinguish myself in the applicant pool.

Recommendations: 1 Rec to be written by an MD at old IB (for 4 applications), VP for the rest, & another to be written by my Chinese JV partner

Thanks.
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Re: Profile Evaluation: Front Office to Failed JV [#permalink] New post   11 Aug 2011, 23:03
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Ah you're not so old! I'm even older than you! :)

First of all, leaving the stats aside, you have a very interesting story. I do like the whole "Funded college through ebay" thing.. it's a rare story that PROVES you have real entrepreneurship capacities... you didn't just say you DID.

Things I love in your profile:
GMAT
Ivy League
Pan-Asian linguistic skills (this can be super useful if you have goals related to Asia)
Real Entrepreneurship
Military Leadership (this one is an ace in the hole)

Now, as for your age, it can be more of a problem as some schools than others (i.e. Harvard, Stanford, which are going more and more for young 'uns). A good place to look is at the "Average Age upon entrance" stat for each school.

But I have seen people get in as older candidates. The key is: To SHOW them that you really really NEED this MBA and that now is really really the perfect time. Other than that, the one thing that needs a lot of thought with your application is your goals: Is it clever to leave off Finance? Should you anyways revolve your goals around finance? etc. etc. This is something that won't become clear till we get to know each other better, but it's VERY important for you.

So, should you apply everywhere? If you have the time, absolutely. If not, maybe leave off Harvard. Maybe add another European school (which seem to be far more flexible in terms of age). Have you had a look at LBS, IMD?

Hope aaaaaalll this helps
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Re: Profile Evaluation: Front Office to Failed JV [#permalink] New post   11 Aug 2011, 23:50
Thanks for the super fast response! Within 12hrs of my post no less. Really appreciate your input, but if you don't mind a question, I wasn't sure what you meant when you asked if "is it clever to leave off Finance? Should you anyways revolve your goals around finance?"

The theme of my application would be that I would be going to business school precisely because I want to reattempt an entrepreneurial effort with a stronger knowledge foundation on how to run and manage a business. Wouldn't it weaken my message if I said I might possibly be interested in going back to finance (my first preference will always be to start my own venture, but I wouldn't mind putting the time in an investment bank to build more capital - I cashed out profitably in the volatile equity markets during 2009 where I bet all my bonus money. This was a big factor in explaining my risky career decision)

Thanks for the suggestion of LBS and IMD but because I intend to continue to offset the cost of my studies with reselling activities on my part, studying in Europe where I have absolutely no idea about the sourcing channels would be unlikely. I don't want two years of business school to empty out my bank account. :( Insead is only in my list because they have an Asia campus which would allow me to be closer to HK/Shenzhen (cheap 3hr air flights)

And agreed. I didn't consider Stanford at all because of their reputation for picking young blood. Did not realize Harvard was as bad.

Sorry for such a windy post. After this clarification I will only request more help if I decide to engage your services. One should always be compensated for one's efforts. ;) Cheers and thanks again!
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Re: Profile Evaluation: Front Office to Failed JV [#permalink] New post   12 Aug 2011, 23:13
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Well, one of the reasons I suggested having a look at European schools is that tend to be more global than US schools, so it may fit your needs, and usually spending a year or two is enough to get you connections. But that's up to you.

As for your question r.e. your goals, the point is that sometimes your goals need to be strategized to give you the best chances possible of getting accepted. And I wrote questions and not answers because it's something that requires both work and thought, so we would only figure it out once we start working together.

Hope this helps you good sir!
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Re: Profile Evaluation: Front Office to Failed JV [#permalink] New post   12 Aug 2011, 23:30
deleted. wrong post.
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Re: Profile Evaluation: Front Office to Failed JV [#permalink] New post   13 Aug 2011, 23:06
Thank you, that helps so much. I think I understand what you mean, especially since the strength of some of these schools lie in their placements with bulge brackets and consulting firms. By the way, your website is excellent, and I especially like your analysis of the application questions for the top schools. I'm really conflicted as to whether or not to retain your services. I'll start my essays first and make the decisions once I have the rough drafts ready.
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Re: Profile Evaluation: Front Office to Failed JV [#permalink] New post   14 Aug 2011, 01:49
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Well, you let us know. And thanks for the compliments on the Website. If there's anything we can do to help you resolve your conflict, i.e. any questions whatever, just shoot us an email.
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