Evaluate my GMAT profile and career advice

Question

I am in the final year of my undergraduate in Mechanical Engg. at IIT Bombay. CGPA- 7.92, GMAT score- 770
I secured admission at IIM Lucknow which is in the top 4 b-schools in India. I have a job offer at a leading automobile industry. But, I am interested in finance. Should I pursue my interest by joining IIM Lucknow or should I wait and try for an MBA in one of the leading schools abroad. 
Extra curricular- Organisation of event at college fest, hostel cricket team (nothing much)

P.S: I would really appreciate any advice cause I am really caught up and have no idea on what to do. Thanks a lot in advance

MBAAdmissionsCoach · Answer

Congratulations on your superior GMAT performance! Wow! This score can open the door to remarkable opportunities for you - if you use it strategically.

I urge you to hold off on pursuing your MBA at this time. It's too early in your career. Furthermore, if you do pursue your MBA at this time, when you complete your MBA, you'll be competing for jobs with others who have their MBA plus 3-5 years of professional experience. You'll be at a significant disadvantage due to the lack of experience.

Take the position you've been offered, and gain as much managerial experience as you can. Try to get assignments that have a finance component in them. During this time, be planning financially for your MBA.

After you've gained at least three years of professional experience, then apply to top business schools. Your GMAT score is good for 5 years, so you've got a nice window to work with.

Here's the advice I always give to individuals who are just graduating from college:

You can only do your MBA once in your career.

The primary value of an MBA comes at an early stage of your career - but only after you've completed a few years of professional experience.

Hold on to that fantastic GMAT score, and pursue the MBA after you've gained experience.

I know it is hard to wait, but when you consider the long term return on the investment (ie, the MBA), pursuing the MBA after professional experience is the right path.

Good luck!

Wendy

InterviewBay2 · Answer

Hi fedex913,
Congratulations for getting such a high GMAT score and securing a job offer. With a score like this, you can get admission in the top B-schools of the world. This would be far better than pursuing MBA right away.
You need to get work experience and demonstrate potential to lead teams. Also, associate yourself with organizations of your interest to show ability to do multi-task. As you are looking forward to finance role, you need to know what investment banks look in prospective I-Bankers.
They look for:
1. Hard working people: It can be demonstrated with high GPA, working hard to achieve results in a project etc.
2. Multi-Tasking ability: In a finance role, you would have a lot to do in your plate. So, demonstrate that ability while working for 2-3 years.
3. Team Skills: If you are good in sports or associate yourself with other people in social events, then it shows that you would god in teams

Best of Luck!
 https://www.InterviewBay.com

jumsumtak · Answer

I'll jump in with a different perspective.

I sympathize with you because it is not an easy decision. Questions for you:

1.) Why did you write the GMAT in the first place?
2.) Where do you want to work? If in India, IIM L is a better option than to wait out. If outside, it is a no-brainer - wait for sometime and apply to schools.
3.) Have you considered a double MBA ? I'm not saying that is the optimum way to use your education, but many people do it and I've seen quite a few from L/XL in top 10 US schools. 
4.) Would you be able to manage the finances if you are planning to go out ? We are talking about ~8x times the investment in L.

As far as your profile is concerned, it looks solid for a top - 10/15 in 3-4 years (if you don't screw up at work). You have plenty of time to build up some extra curriculars and have some leadership experience.

Finally, there is a TON of difference between 'finance' opportunities you will get at L and a top 10/15 in US. 
L will be mostly commercial banking and a (very) few back/middle end premium IBs (check out the placement reports and talk to a few L people if possible). On the other hand, though opportunities do exist outside, it is hard to get into the elite roles without prior relevant experience. I will encourage you to research more before you take the plunge.

AbhiJ · Answer

I would suggest you to wait for 3-4 years, do your CFA and get an MBA from Top 5 Finance Business School. Else if you are in a hurry try CAT 1, 2 times more and get into IIM A, B and then you should able to get into Finance in Singapore, Hong Kong.

fedex913 · Answer

Thanks a lot for your suggestions. My main problem is the job offer I have is a technical (mechanical engg.) one, not related to finance. My undergrad CGPA isn't that great too. Could you throw some light on the type of Extra-curriculars or leadership experiences you referred to? Is it very hard to work my way up after landing a decent fin job from L? Would really really appreciate your inputs...Thanks again

Admissionado · Answer

Well if you really really don't want to do what your job offer offers you, can you afford to look a bit more for a more appropriate job? I know first jobs are tough to land so your choice may not always be the ideal one. But anyhow whatever you decide, I think it's better in general to work for a few years before continuing your studies. Because you come back to your studies more serious, more secure, more confident, more sure about your goals. And all of these are good things.

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