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The MBA Thread

Discussion in 'Business, Careers & Education' started by Tarmac, Aug 28, 2008.

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  1. Grey

    Grey Well-Known Member

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    if you mention in an IB interview that you want to work for a HF or PE shop, you chance of getting a job with that IB is essentially zero. they want someone who is going to work their butt off and not thinking about how soon they can try to switch to another field (even though everyone is thinking about it).

    +1

    NEVER talk about exit opps, no matter how much an interviewer tries to draw it out of you.
     
  2. Lord-Barrington

    Lord-Barrington Senior member

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    True, I was in the top of my class, but I went to a very small state school and had no connections. I was screwed. I couldn't even get an interview at a bank for anything higher than a cold caller for a stockbroker. I tried HARD too. No such luck. Now, I don't work in the banking industry, and I work with ivy leaguers. I always ask myself if I am really smart, or they simply don't care, because they could be making a ton of more money at other places.

    Sounds like you're crippled by your insecurities, my man.
     
  3. newinny

    newinny Senior member

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    whoops, double post.
     
  4. newinny

    newinny Senior member

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    The chances for an MBA with no PE experience getting into KKR, Bain, Blackstone, blah blah blah regardless of whether you went to Harvard or Stanford are small.

    I've been told that Apollo has about three spots for summer associates (imagine 1,000 applications) and interviewees are explicitly told that they will not get a full time offer afterward. Tough industry to crack due to small size and level of demand.
     
  5. Souper

    Souper Senior member

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    Can anyone tell me which of these is more common for finance careers? I'm trying to figure out when I will be going back to grad school

    IBD Analyst -> MBA -> IBD Associate?
    IBD Analyst -> Associate -> MBA -> VP?
     
  6. jfclarky

    jfclarky Senior member

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    IBD Analyst -> Associate -> MBA -> VP?
    I skipped analyst and was hired as an associate. I have no intention of getting my MBA anytime soon.
     
  7. Souper

    Souper Senior member

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    That's fantastic. I can't imagine how I would go about doing that. So for the rest of us...

    I realize that I can make the jump from analyst to associate without the MBA. However, at this stage I am leaning towards getting an MBA for the life experience and varied exit opps
     
  8. jfclarky

    jfclarky Senior member

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    wtf, exit options? Being an IB is awesome and sux. until you get 100-200M in deals under your belt, you should be concerned with the next 10 deals to get that number.

    I work at a small boutique firm so it is cool but you start to know a lot people in the industry quick.

    You need to network, network, network, and network. That is how i got my job, and i used to work with my boss at another job like 5 years ago.

    This is also my opinion as well but I think the CFA might be a better choice than an MBA but both combined and you're a freakin power house. That is what i am doing now, life is fun.
     
  9. Souper

    Souper Senior member

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    Not sure if I'm shooting for a long career in banking or buy side exit ops after analyst years.
     
  10. jfclarky

    jfclarky Senior member

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    from what i've heard buyside is better than sellside. I work on the buyside and I couldn't imagine bringing a company to market and going through that process. It's like picking a prostitue at a whore house.

    I find the best part of this other that the paychecks are diversity of CEO's I get to talk to.
     
  11. Souper

    Souper Senior member

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    Not buy side advisory on deals; buy side as in PE, HFs, etc.,
     
  12. leftover_salmon

    leftover_salmon Senior member

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    IMO they're very different. Distressed debt has a huge credit focus. Sometimes they want people with PE experience ON TOP of credit experience. Even restructuring/bankruptcy experience. The lines are not as blurry as you would think. And what you do in a VC has nothing to do with an LBO.

    And in capital markets you had no experience with models, but what also is going to hurt you is that you don't have experience with structuring, documents, negotiations specific to that field (or maybe you do, I don't know). Working in excel is the bare minimum, not the golden ticket.

    Personally, I think you need to flesh out what you really want to do in life. Or at least where you want to focus on the capital structure. Which is a lot easier saying that than doing it. As an MBA grad, you'll be more expensive so the risk may not be worth it for someone. Just a thought.


    Thanks for the advice. I've had a lot of experience - at least, as much as anyone at the analyst level - with structuring/docs/negotiations (not sure what we'd do if not those? Maybe it's just the way my group operates; we pretty much run the deal from sourcing to execution).

    I'm definitely more interested in the credit side. I can see pros and cons to both trading and investing, however: My personality probably suits trading better (I'm pretty comfortable being decisive/thinking on my feet and I have a math degree), but my skills are better suited to investing (I'm very good at conducting and synthesizing research). At the same time, I feel that trading is too short-term and there's no broader goal or project to finish, while all the research for investing leads to paralysis by analysis.

    I guess the question is: How do I get buy-side opportunities coming from an investment-grade capital markets group, even one that handles all the sourcing, structuring, docs and negotiation?
     
  13. Star

    Star Senior member

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    Looking for feedback from anyone who may have done the Veritas 42 Hour full prep GMAT course?
     
  14. medtech_expat

    medtech_expat Senior member

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    Looking for feedback from anyone who may have done the Veritas 42 Hour full prep GMAT course?

    I used Kaplan, bumped my score by about 60 points.
     
  15. Flambeur

    Flambeur Senior member

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    Looking for feedback from anyone who may have done the Veritas 42 Hour full prep GMAT course?

    I used Kaplan, bumped my score by about 60 points.

    I highly recommend Manhattan GMAT (combined with a couple of other resources) for self-study. Can't comment on classes because I never felt the need to take them - I feel that it is much better to go at your own pace and difficulty level assuming that you're disciplined and have all the right materials.
     
  16. Star

    Star Senior member

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    I highly recommend Manhattan GMAT (combined with a couple of other resources) for self-study. Can't comment on classes because I never felt the need to take them - I feel that it is much better to go at your own pace and difficulty level assuming that you're disciplined and have all the right materials.

    I bombed out recently with self study. Could do all the Official guide questions with ease but either I am missing another layer of understanding or pressure got to me on exam day. I am also going through the motions of self reflection and whether I should divert my energies to moving forward without an MBA or give it another crack.
     
  17. Coors Light

    Coors Light Member

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    I self studied for 2 months, then took a 6 week kaplan course, then studied for 2 weeks and took the test.

    The class give you little "cheats" that I hadn't learned on my own. I took probably 15-20 practice tests.
     
  18. calispec

    calispec Member

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    I highly recommend Manhattan GMAT (combined with a couple of other resources) for self-study. Can't comment on classes because I never felt the need to take them - I feel that it is much better to go at your own pace and difficulty level assuming that you're disciplined and have all the right materials.

    This. I couldn't agree more.

    I recently took the GMAT and came out with a 720. And I have to say, my biggest battles with the test were not the material, it was the mental aspects of the test (timing and just relaxing). I was killing the practice tests, but it was hard to "let go" of questions on the actual test day. To realize when you aren't going to get it, and just move on (I think this is the biggest thing one can do to prepare for success on the test).

    But as far as study materials go, the MGMAT series are fantastic. And their online practice tests are fantastic for humbling anyone that dares get cocky based on the official GMAT practice tests (I was hitting 770-780 on those every time, and then 670 on the MGMAT tests, lol)
     
  19. Haryer

    Haryer New Member

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    I didnt think the "experience" part counted when going for an MBA degree. I mean, sure it helps a lot if youre in a MBA program that is in line with your current profession, otherwise youd be wasting time not being able to understand what everyone else is talking about.

    But if you have the money to enroll in a good college or university, would they not let you in given that you do have a Bachelors degree?
     
  20. Lord-Barrington

    Lord-Barrington Senior member

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    I didnt think the "experience" part counted when going for an MBA degree. I mean, sure it helps a lot if youre in a MBA program that is in line with your current profession, otherwise youd be wasting time not being able to understand what everyone else is talking about.

    But if you have the money to enroll in a good college or university, would they not let you in given that you do have a Bachelors degree?


    The only thing experience counts for is helping you get a job after your MBA. Aside from that, you're right--it's pretty much useless.

    [​IMG]
     

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