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CaliCpa
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Career switchers 06 Oct 2009, 21:03
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I have been thinking about and reading about the impact that the economy has had on career switchers. Apparently it is much more dificult now to switch industries, post-mba. I have also read that schools are concerned about employment stats. Wouldn't it be smart for a potential applicant to take an easy route for the goals in this economy. For example, I worked in public accounting. Obviously becoming a CFO is a common career path for of ex public accountants. If someone were to state that they wanted to get an MBA and take the CFO career path, wouldn't that be looked at more favorably than say public accounting to i-banking. I don't think it would be dishonest, b/c most public accountants would jump at an opportunity to be a CFO, but there might be something out there that interests them more than the CFO role. The same could be true for engineers, scientists, teachers, etc. Just curious to hear everyone's thoughts on the approach...
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Career switchers 06 Oct 2009, 21:40
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CaliCpa
I have been thinking about and reading about the impact that the economy has had on career switchers. Apparently it is much more dificult now to switch industries, post-mba. I have also read that schools are concerned about employment stats. Wouldn't it be smart for a potential applicant to take an easy route for the goals in this economy. For example, I worked in public accounting. Obviously becoming a CFO is a common career path for of ex public accountants. If someone were to state that they wanted to get an MBA and take the CFO career path, wouldn't that be looked at more favorably than say public accounting to i-banking. I don't think it would be dishonest, b/c most public accountants would jump at an opportunity to be a CFO, but there might be something out there that interests them more than the CFO role. The same could be true for engineers, scientists, teachers, etc. Just curious to hear everyone's thoughts on the approach...
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Seems easier, BUT I think if you were to talk about what you really want to do in reality, it might be easier to make logical transitions and motivation. Case in point, if you are a CPA and want to be CFO, and yet that's not what you want to do, it would be harder to answer why MBA, why not. Although you can make something up, you will have to carry it through the interview on "cross examination" I think you will lose some of that passion element of doing what you want to do.
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Career switchers 06 Oct 2009, 21:54
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Good point. I am just thinking that it makes more logical sense for public accounting to CFO than public accounting to IM or IB or PE. I guess there is the unique side to it as well. I dont know how many people are going back to be a CFO, but might be much higher than like IB for example.
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Career switchers 06 Oct 2009, 22:21
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that was fast. I think CPA to IB is actually pretty closely tied. You should talk to nink for last year. I think that's what he did.
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CaliCpa
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Career switchers 06 Oct 2009, 22:26
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In the end, everyone would like to follow their career path, but I guess all I am saying is that if its easier to "sell" a certain career path, then why not use it. That possibilty is always there and you just might end up as a CFO, VP of Engineering, etc.

Nink-any thoughts?
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Career switchers 07 Oct 2009, 09:01
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I am in the same boat, I have two completely unrelated thoughts on what I want my post-MBA career to be - Real Estate Development or Mktg/Product Management (in a very specific industry). I have been in marketing thus far and have no formal RE background, except from the exposure I received through my father's development company. I am going the safe route and talking about marketing, my "Why MBA" comes in at me wanting to change industries, have a more concrete and formal training in the marketing discipline, and develop more well rounded skills in quantitative and strategic areas to make sound decisions for mktg programs. I know quite a bit about the industries I'm interested in as I had accounts with these major companies in my old position, I also work in the emerging/online space which is a big plus being that it's the new "hot" thing in marketing. I feel like these factors will add more strength to my app than talking about my passion for RE Dev.

Although there is a greater stretch I'd like to go for in my MBA (RE and finance), I honestly feel like not having the prior experience to provide supporting evidence in my essays will hurt, no matter how much knowledge I have of the industry and can convey.

I don't think accounting to I-banking is a big stretch, the only obstacle this goal could face, if at all, is wariness about I-banking recruiting in general, not that you came from a CPA background.
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Career switchers 07 Oct 2009, 09:55
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CPA->IB seems very logical, especially if you were Transaction Services or highly industry focused.

However, the overall issue I see with this strategy is it coming across as contrived during interviews, or even in your essays. Maybe its just me, but I tend to think the adcoms will be able to smell it a mile away.
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Career switchers 07 Oct 2009, 10:23
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CaliCpa
I have been thinking about and reading about the impact that the economy has had on career switchers. Apparently it is much more dificult now to switch industries, post-mba. I have also read that schools are concerned about employment stats. Wouldn't it be smart for a potential applicant to take an easy route for the goals in this economy. For example, I worked in public accounting. Obviously becoming a CFO is a common career path for of ex public accountants. If someone were to state that they wanted to get an MBA and take the CFO career path, wouldn't that be looked at more favorably than say public accounting to i-banking. I don't think it would be dishonest, b/c most public accountants would jump at an opportunity to be a CFO, but there might be something out there that interests them more than the CFO role. The same could be true for engineers, scientists, teachers, etc. Just curious to hear everyone's thoughts on the approach...
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I definitely understand your situation because I am in a similar one, a cpa moving into a different function. But that being said I have to agree with the posts above me in that if your essays are not something genuine you run the risk of lacking that extra "ompfh" in your essays, and just being another beige candidate, as opposed to speaking of your passion or interest in IB. Plus don't discredit your CPA, accounting in the language of business :-D .
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CaliCpa
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Career switchers 07 Oct 2009, 19:41
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Very good comments from everyone...thanks and keep it up.