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Apr 2909:00 AM PDT
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What’s in it for you- Live Profile Evaluation Chat Session with Jenifer Turtschanow, CEO, ARINGO. Come with your details prepared and ARINGO will share insights! Pre-MBA Role/Industry, YOE, Exam Score, C/GPA, ECs Post-MBA Role/ Industry & School List.
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Apr 3010:00 AM EDT
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Applying to business school from a finance background? Personal MBA Coach is here to help with this quick tips video on how to set yourself apart during the MBA application process!
Apr 3010:00 AM EDT
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Sia Admissions Founder Susan Berishaj will walk through why reach/target/safety produces the wrong list for many specific profiles, how admissions committees at different programs read the same background differently, and more...
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Starting at $975 and offering up to $545 of savings, our new Amplify Hourly Packages offer structure and support in certain high-value areas (story development, resume, essays, interviewing) to help get your applications across the finish line.
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Thinking about PE/VC? Most consultants are. Few actually make it. Learn how to position your profile, build the right skills, and break into Private Equity & Venture Capital.
May 0108:30 AM EDT
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Get the inside scoop on what makes Emory’s Goizueta Business School great, learn how you can present a strong MBA application, and connect with an Admissions Director to get your questions answered.- May 01
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Get the inside scoop on what makes Emory’s Goizueta Business School great and how you can present a strong MBA application. Explore the difference between our One-Year MBA and Two-Year MBA programs, talk to our admissions team, and meet students. 
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28 Apr 2008, 13:33
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terp06
What I said is 100% accurate, no clue why you say its untrue. I said short term because if he works instead of school he will be pulling down around 200k a year vs -75k a year. So his cost of attending is going to be over a half a million compared to someone who might only have a 200k or less cost...its going to take him a lot longer to pay it off. A corporate lawyer at a big firm with 4+ years of experience will be pulling down more than almost every 1st year associate. Long term, a managing director will make more than a partner. Much like law though its tough to make it that high up, you have to gut out terrible hours and loads of stress.
Still dont get how anyone can talk like a million a year wouldnt be enough. I guess I am in the minority here.
28 Apr 2008, 13:48
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riverripper
I'm pretty sure raises at big law firms are tiny compared to IB. I don't believe that most 4th years would make over $300k. Yes, the opportunity cost of forgoing this income is huge, and it probably doesn't make sense short-term, but if you want IB long-term, its worth every penny and the pay off will come soon enough.
It all comes down to what you want and how badly you want it. Opportunity cost should be evaluated if you're a lawyer, but it shouldn't be enough to deter you from attending B-School if you want to enter Finance. It should deter you from entering, and rightfully so, if your proposed career track is middle management/MC/etc.
Lastly, I don't think the timeframe needed to earn a good ROI is 20 years like you mentioned. I would estimate it at 6-8 years tops. You'd be making more in IB once you hit the VP level and your debt will be a long-gone thing of the past.
28 Apr 2008, 14:20
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I wasnt saying 20 years for ROI, I was making a generic observation that for someone that stuck out corporate law vs someone who stuck out IB for 20 years that the banker most likely will be making far more. There are doctors and lawyers at all top programs so people definitely find it worth the lost pay and cost of attending but its a longer pay back since he will be getting the same pay as a former engineer who was making a third of what he was.
Remember when you hear of guys at Goldman making 20+ million that is a very small minority of bankers. I know career folks at IB and for every making 5+ million there were a lot making closer to a million. Thats a ton of money either way but dont go into banking assuming you are going to be pulling down 50 million a year when you are approaching retirement. Thats one way to be sorely disappointed with your career.
Personally I think the money shouldnt be the driving factor, if a lawyer hates the life he has in corporate law and has a strong desire to do something he loves more then more power to him. I mean if someone wants to go from law to CPG and its more about quality of life then I have a lot of respect for that decision. I dont think anyone aims at going to b-school to be middle management...thats why I found the long term goal to be an odd question. I know my goal is to be senior management (read C-level), at which point if I make that I will be pulling down far more than I can even imagine now...I know any executive vp and above in my desired industry are in the 1+ million in total compensation and top CEOs are 15+ million. Yes the pay trails banks up to that point but I am not a person to sneeze at 200k.
Sure far fewer people make the huge bucks in most fields than will at banks but the exit options are a lot better if you hate your job in 5 years than if you are an IB.
Remember when you hear of guys at Goldman making 20+ million that is a very small minority of bankers. I know career folks at IB and for every making 5+ million there were a lot making closer to a million. Thats a ton of money either way but dont go into banking assuming you are going to be pulling down 50 million a year when you are approaching retirement. Thats one way to be sorely disappointed with your career.
Personally I think the money shouldnt be the driving factor, if a lawyer hates the life he has in corporate law and has a strong desire to do something he loves more then more power to him. I mean if someone wants to go from law to CPG and its more about quality of life then I have a lot of respect for that decision. I dont think anyone aims at going to b-school to be middle management...thats why I found the long term goal to be an odd question. I know my goal is to be senior management (read C-level), at which point if I make that I will be pulling down far more than I can even imagine now...I know any executive vp and above in my desired industry are in the 1+ million in total compensation and top CEOs are 15+ million. Yes the pay trails banks up to that point but I am not a person to sneeze at 200k.
Sure far fewer people make the huge bucks in most fields than will at banks but the exit options are a lot better if you hate your job in 5 years than if you are an IB.
