Brutally honest advice needed
Goal: I want to pivot into asset management for a large fund (Blackrock/ Pimco/ JPM) however considering how competitive the space is I’m concerned my undergrad institution is holding me back and I have no network to lean on. Every time I look at the "meet the team" section of any firm I'm interested in or go on the LinkedIn page its full of people that went to at least a T50 school and I'm so outside of that it's not even funny. I also didn't start applying myself until late college so there's a part of me that wants to keep learning, prove it to myself that I can do it, and have tangible evidence of my hard work. Thinking about going back to school even gets me excited but the price tag is the only thing that gives me pause. So motivations are (1) career enhancement and mitigate undergrad (2) network (3) learning and self-improvement.
I'm on L3 of the CFA now and though I think it helps I'm not delusional enough to think it’s a golden ticket by any means.
Circumstances:
- 28yrs old
- Live in NYC
- Graduated from no name undergrad ranked somewhere between #180-#210 US News
- Transitioned from a brokerage role at VG/Fidelity/Fisher to corporate finance, eventually landing a fortunate opportunity in private credit at age 26. Started as a leveraged finance analyst and achieved promotion to associate in September 2023.
- CFA L3 candidate
- Salary is $200K
I've brought up the situation to a handful of people but everyone tells me I'm overthinking it and that it's not worth the money. My logic is that is maybe if I went to a T50 school it wouldn’t make sense but the gap between my undergrad and my target schools (even if PT or online) is so large that it would be a difference maker. Especially when you consider how competitive the finance industry is in NYC.
I'm on a good path and could keep progressing through Private Credit making good money but I'm not so sure I want to be in the private markets forever and hate the idea of being constrained. FT MBA is a brutal idea bc of the $400K+ in forgone salary plus $200K in tuition would set me back a cool ~$600K. Well aware this makes little to no sense but I want to think through every scenario.
The way I see it I have 4 options:
A) MBA full time
B) MBA PT (only option is really NYU for $170K)
C) Online MBA (Ross, UNC, USC so ~$130K)
D) No MBA and ride it out
Truly open to any kind of advice either in the comments or offline