I know a lot of people here think that an MBA from a top school is crucial but I recently looked at the syllabus of a MBA at a top school and was really disappointed. The material was not at all quantitative so I dont understand how they can justify thinking they can immediately join a trading team or even worse manage a group of traders when the MBA is not actually heavily financially based I know some people will say it is the soft skills here which are important like teamwork but surely this can be gained from actually working in a team environment?
They were probably talking about IBD or ER or PE or other things of that nature. I’d be surprised if whoever said “an MBA from a top school is crucial” was talking about trading.
The three most significant benefits of a top MBA: 1. Networking 2. Networking 3. Networking
an MBA is not an MBA
joey122 Wrote: ------------------------------------------------------- > I know a lot of people here think that an MBA from > a top school is crucial but I recently looked at > the syllabus of a MBA at a top school and was > really disappointed. > WHAT CLASS? A GENERAL SYLLABUS WILL BE VERY TOPICAL IN NATURE. I ASURE YOU THE CLASSES ARE NOT TOPICAL. IT DEPENDS, IF YOU DO MARKETING : ) I GUESS IT COULD BE WEAK BUT MY FIN CLASSES WERE RIGOROUS, MAN. WE WERE MODELING OUT RMBS ON WEEK 2. > The material was not at all quantitative so I dont > understand how they can justify thinking they can > immediately join a trading team or even worse > manage a group of traders when the MBA is not > actually heavily financially based > > I know some people will say it is the soft skills > here which are important like teamwork but surely > this can be gained from actually working in a team > environment? NETWORKING. I SPENT HALF MY DAY TALKING TO 2 ALUMS FROM MY SCHOOL. THEY FOUND OUT I WAS STILL ON THE JOB MARKET AND ARE TRYING TO GET ME INTO A FIRM IN NY…SO THERE IS VALUE. I DIDNT HAVE TO CALL THESE PEOPLE AT ALL, THEY TALKED TO SOMEONE WHO TALKED TO SOMEONE, AND BOOM, MY PHONE WAS BUSIER THAN A HOOKER IN NEW ORLEANS TONIGHT. OBVIOUSLY I AM BIASED, BUT THE BEST PLAN IS CFA AND MBA COMBINED. THE MBA WILL GIVE YOU THE ACADEMIC RIGOR BUT IF YOU SLEPT IN ANY CLASSES , YOU CAN CATCH UP WITH THE CFA. NOW, BACK TO MAGIC HAT.
haha daj … wasted? nice
doing an MBA you can learn from 3 sources: 1. learn from the books - anybody can buy the books and learn the curiculum - so the’re no value add there 2. learn from lecturers/professors - in most schools you just get hack academics - very little real world experience, and not at senior levels - so no value added there. But in the top schools you get ex-CEOs of major firms, Nobel Prize winners, etc - top schools are expensive, you get what you pay for. 3. learn from dealing fellow students - this is what it’s all about. You only get out what you put in - you’ll make contacts and friends for life - but the top students head for the top schools - they’re expensive, but well worth the price if you make friends and network - plus you’re buying into an alumni which you can tap into non-ivy league MBAs can be quite useful for career transitions - eg engineers trying to get into general management, etc. You get basic coverage of a wide range of areas - marketing, strategy, supply chain, HR, finance, etc, etc. But if you want to get into a major consulting firm, HF, IB, etc, then do an ivy league MBA or don’t bother. Far more important is results on the job, initiative, perseverance, tenacity, creativity, follow-through, etc. You can’t learn that stuff - you just do it. good luck…
projectplatnyc Wrote: ------------------------------------------------------- > haha daj … wasted? nice yeah, just me and magic hat and bo sox game on. doing a lot of models re fonts and thank you notes in between innings. this site is way too addictive.
So lets get this right - You re saying that you are prepared to pay 100K plus losing two yar potential salary to make FRIENDS? Surely you can network at work? If you neeed a job and are confident on your skill set then surely a job agency is the place to go
joey122 Wrote: ------------------------------------------------------- > So lets get this right - You re saying that you > are prepared to pay 100K plus losing two yar > potential salary to make FRIENDS? > comes down to less depending on region and awards given…there are top 20s that will cost you > 100, there are top 20s that will cost you 70. > Surely you can network at work? Not if you worked in one tier of the biz and want to move up another ladder rung in the food chain. plus, at work networking can be limited, since you are talking to people you already know. now, if you are in a client heavy role, consulting for ex, you can leverage your current job to get a new one, but some people are trapped in their current roles, esp if they work in a back office. hence, people applying to B SCHOOL is at an all time high. > > If you neeed a job and are confident on your skill > set then surely a job agency is the place to go I agree, but you need to be in the career you want and have the right skillset. not everyone is in that situation
Yeah, an MBA isn’t the best way to become a trader. Seems like you would need more of a math background, perhaps a PhD. Finance MBA kids will usually trend more to IB, PE, VC, corp finance, and research roles. But overall, I think most MBA programs are relatively quantitative. It’s not like you’re doing math proofs, but you’re using stats in nearly every class, with a little bit of calculus thrown in. The adcoms will certainly be looking for people with strong quant skills.
joey122 Wrote: ------------------------------------------------------- > So lets get this right - You re saying that you > are prepared to pay 100K plus losing two yar > potential salary to make FRIENDS? > > Surely you can network at work? > > If you neeed a job and are confident on your skill > set then surely a job agency is the place to go I used to think this way myself. Networking will only get you so far. If you don’t have the skills foundation for the job, then there is not much more your contacts can do for you. Can I ask how old you are? Assuming an MBA is something you have been considering, if you don’t do it now, then when? Most MBA programs prefer 2-5 years of experience before admission. 10+ years of experience would have a very high opportunity cost to attend versus the 2-3 year experience candidate. To each their own. Job agencies are nearly worthless. Read others view of them as well on the board. Putting alot of faith in one of these to land a new gig is foolish at best. Also, one has to look at the externalities. Personally I enjoy learning, school was a good time for me, and I think taking a break from the back office rut to puruse an MBA is just what I need.