Profile Evaluation

Question

Alex, I'd like to first thank you, as many before me have already done so, for being a tremendous asset to this community. Despite being new here, it's easy to see the impact you are making here. I've just started with my application process in the past month -- conducting research, laying out a game plan, and prepping for the GMAT -- so I thought it'd be helpful to gauge where I stand before I really delve in. First, a brief description of my profile and goals:

24-year old Asian-American male.

B.S. in Finance from private west coast university (3.63).

Nearly two years at small boutique IB, where I was recently promoted to Associate.

I haven't taken the GMAT, but did take a preliminary practice test (GMATPrep) at the suggestion of the "GMAT Study Plan for GMAT Novices" thread in this forum and scored a 720.

The bulk of my extracurricular activity is dedicated to church-oriented involvements. I've led my church's collegiate ministry for over six years, served as a worship leader both at church and school, co-led my campus' men's ministry for two years, and have formed and help lead various other small groups.

I plan to apply to HBS, Stanford, Wharton, Sloan, Columbia, Booth, Kellogg, and Tuck, with the hope that I'll be accepted into one of the first five.

And now, a few questions that have arisen as I meander my way through this process:

While HBS, Stanford, and Wharton are understandably ambitious, is my overall target range reasonable?

I'm entertaining the idea of applying R3 this spring to H/S/W (and maybe Sloan) and then trying for Columbia ED in the fall if that fails, but I also read that R3 applicants tend to face lower acceptance rates. Given that I'm still early in the application process (I'll probably take the GMAT in the next month or two), would you advise taking a shot this spring, or just applying for everything next year?

Does working at a lower middle market firm place me at a disadvantage against some other finance types? My firm clearly doesn't carry the name recognition of a BB, but working here -- as is often the case with smaller firms -- has afforded me the opportunity to be intimately involved in the dealmaking process while assuming responsibilities generally reserved for more senior positions. More importantly, for myself at least, I've actually been able to enjoy my job and take a personal interest in it. A friend cut from the more traditional BB fabric reminded me on Sunday, "People don't go into investment banking cause they like it."

I actually started off out of college as an Assistant Trader with a relatively well-known quant shop, but was let go three months in. The portfolio manager cited that I was not a 'great fit' for the company. While I was initially miffed about the seemingly unjustified termination, I can see in hindsight that I could have done many things differently at the job but also gained much wisdom from the entire experience. I've intended to keep this position on my resume (even though it probably requires explanation), but wanted to seek your opinion on the matter.

I headed up a couple of social media startups during and after college, but neither have really met any success. Are these worth mentioning in my application?

Thanks again for the great work you're doing here and I'll look forward to hearing from you!

AlexMBAApply · Answer

Don't apply R3 if you can afford to apply R1 the following year. If I were you, I'd wait, especially since you're still young.

As for your list of schools, they're ambitious - no real safeties, and most are likely going to be stretches. Your sweet spot will be schools outside the top 8, such as NYU, Cornell, Yale, Ross, Darden, Duke, Haas, UCLA. And yes, you would be at a disadvantage compared to other finance types not solely because of your employer name, but because most IB types will have bluer chip resumes overall (went to more prestigious undergrads, worked at more established or prestigious firms, etc.) - and yes that does matter especially in this environment where "employability post-MBA" is a bigger concern for many b-school adcoms (all the way to the top H/S/W - yes, they do care!) -- and by and large, those with bluer chip resumes tend to be more attractive to post-MBA recruiters *assuming* these folks with the blue chip resumes have reasonable expectations (which in these sobering times is happening more and more - gone are the days where some Goldman/KKR analyst thinks he can walk on water).

In any case, where you apply is really a personal decision. Some folks only want to apply to "stretch" schools and are comfortable with the possibility that they won't get in anywhere. Others really do want to get in somewhere, and will apply to a wider range of stretch, sweet spot and safety schools.

explicitus · Answer

Thanks, Alex. I'll plan to apply R1 next year, which will also give me a little more time to prepare for the GMAT. Are the top eight within reach in the regard that, if I apply to all of them and put forth strong applications (along with a hypothetical 750 GMAT), I stand a relatively solid chance to accepted from at least one?

AlexMBAApply · Answer

The only way the top 8 schools will be a "solid chance" is if you have a very blue chip resume (i.e. Ivy or equivalent, top tier firms in your industry, etc.). Again, even with a super high GMAT, you'll still be a stretch (but still within reach).

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