I’m planning on going back to school for an MBA after completing the CFA exams. The general consensus I’ve heard is don’t bother unless you get into a top 20 program. How does everyone feel about this? I would think graduating from even a top 50 program would have substantial value, but maybe I’m wrong? I took the GMATs about a year ago before I decided to go the CFA route and only scored a 640. I know I can pull that up if I put more time into studying, but I doubt I can get it all the way up to the 700 level.
Depends where you want to work. It’s getting more difficult across the board for MBAs. Firms that used to recruit top 20 schools now only recruit Ivy Leagues. Those that used to recruit Ivy Leagues now only recruit from Harvard, Yale, and Wharton. Those that used to recruit from Harvard, Yale, and Wharton now only recruit Harvard, Yale, and Wharton grads with 36DD’s.
I took the GMAT right after undergrad, and bombed verbal–ended up with a 650 even though I was scoring in the 700s on Kaplan practice exams. I retook it before applying to schools a few years later and got a 710. There is no reason you can’t improve from 640 to 700+. It got me into Chicago where I graduated in 07. Not sure why I am killing myself with the CFA at this point… Regarding top 20 vs top 50. I definitely think that you want to go to the best school you can get into. Had I not gotten in to a top 10 school, I probably would have skipped it. I think that second tier schools can be ok if you want to live in work in the same area post graduation as there is likely a significant alumni network in the community. If you want to work at McKinsey after you graduate from the Rutgers MBA program, you can forget about it (unless your Dad is a managing director there or something). In any case, an MBA is all about the brand cachet and building a network of highly driven, successful people. In terms of pure academics, the CFA exams are much more difficult. If anyone has any questions about schools or the application process, I’d be happy to share whatever knowledge I have. Ok, enough on this… back to the books.
People getting 640s can pull up to 700. w w w dot b e a t t he g m a t dot c o m I think anything above top 20 is a waste of money, but it depends on what you want to do with the degree. If you are seeking some position where you need an MBA and they are ok with top 50 , go for it. Most places aren’t like that though from what I have seen.
My opinion is that while a MBA from any top 50 school has value, the real question here is what is the NPV when taking into consideration of the money and effort you put in. I did my undergrad in finance from a top 50 school. My experience is that getting a job is much harder and recruiters respect you less when they hear where you are from. Not that you will absolutely end up doing fund accounting, but you pretty much will have to network your ass off for a decent job becuase the alumni base and career service simply ain’t there for 3rd tier schools. So get into the best school you can. I think a top 10 will pay some nice div for the rest of your life and a top 20 is acceptable.
if getting an MBA from a school ranked in the 40s or 50s improves your resume and skillset, it will likely pay off for you as long as you have reasonable expectations. For example, say you went to a crappy no-name undergrad school, then the MBA from a top 50 will improve your resume. But if you went to a top 25 school, then a 50th ranked MBA probably won’t help and might even raise more questions.
I find it difficult to believe that MBA is easier then a CFA considering the amount of money you have to pay. how are you guys financing your MBAs? those things are a huge investment. 2 years off work plus tuition plus other expenses.
“Hi mom and dad, can you pay for my school?” “Hi trader boyfriend, can you pay for my school?” “Hi hot mom that I have relations with, can you withdraw money from your husband’s account and pay for my school?”
I plan to do it part-time. It’s more advantangious going that route if you are aleady working in the biz and don’t want to make a major career change post-mba. My company provides reimbursement up tp 10K and I have some savings. Plus, since I will still be getting a salary, I won’t have to go into debt to pay for tuitions and living expenses.
How much does the MBA network cost? i think i’ll just subscribe to that.
JohnThainsLimoDriver Wrote: ------------------------------------------------------- > Depends where you want to work. It’s getting more > difficult across the board for MBAs. Firms that > used to recruit top 20 schools now only recruit > Ivy Leagues. Those that used to recruit Ivy > Leagues now only recruit from Harvard, Yale, and > Wharton. Those that used to recruit from Harvard, > Yale, and Wharton now only recruit Harvard, Yale, > and Wharton grads with 36DD’s. Dude, that’s such an exxageration. 36D’s are good enough.
willispierre Wrote: ------------------------------------------------------- > I took the GMAT right after undergrad, and bombed > verbal–ended up with a 650 even though I was > scoring in the 700s on Kaplan practice exams. I > retook it before applying to schools a few years > later and got a 710. There is no reason you can’t > improve from 640 to 700+. It got me into Chicago > where I graduated in 07. Not sure why I am > killing myself with the CFA at this point… > > Regarding top 20 vs top 50. I definitely think > that you want to go to the best school you can get > into. Had I not gotten in to a top 10 school, I > probably would have skipped it. I think that > second tier schools can be ok if you want to live > in work in the same area post graduation as there > is likely a significant alumni network in the > community. If you want to work at McKinsey after > you graduate from the Rutgers MBA program, you can > forget about it (unless your Dad is a managing > director there or something). > > In any case, an MBA is all about the brand cachet > and building a network of highly driven, > successful people. In terms of pure academics, > the CFA exams are much more difficult. If anyone > has any questions about schools or the application > process, I’d be happy to share whatever knowledge > I have. > > Ok, enough on this… back to the books. Can you share with us your background? University of Chicago Part-time MBA is my top choice of any program out there. I heard UofC was pretty rigorous in terms of quant, where did you end up going after finishing the MBA? What about your peers? Did the part-timers get the same opportunities as the full-timers in terms of career placement? Would obtaining the CFA help with admissions?
FrankArabia Wrote: ------------------------------------------------------- > I find it difficult to believe that MBA is easier > then a CFA considering the amount of money you > have to pay. > > how are you guys financing your MBAs? those things > are a huge investment. 2 years off work plus > tuition plus other expenses. Loans + Savings = Negative Net Worth
For what it is worth- I am in the Kellogg part-time program and I wouldn’t have done it unless I got into a top 7 MBA. Anything below top 10 is generally only useful in that geographic region. IE, you can take a top 7 (or 10) degree anywhere in the world, but a UTexas MBA, while a good school, won’t help you much outside of Texas. It all depends on what you want to do post-grad. If you are trying to get onto a different career track, you need to go to as good a school as possible.
Top 7? Top 7 by whose account? There is enough variance amongst the rankers (and even between years with respect to US News and World Report) that I think top 7 seems a bit nit-picky. In terms of part time programs, graduates of NYU’s part-time progam will be quick to let you know that they are the #1 ranked part time program, but I doubt NYU is a top seven school.
There is a group of top 7 MBA programs that are often referred to as such. On Linkedin, for example, there is a Top 7 group that only alumni from those 7 schools can get into. The rankings you tend to read in magazines are mostly BS, IMHO. Remember, they need to sell their “rankings” issue every year, so they constantly change the rankings so you will buy their magazine. Here are what are considered the Top 7 (the order is my opinion only): 1) Harvard 2) Stanford 3) Wharton 4) Kellogg 5) UChicago 6) Columbia 7) MIT 8/9 NYU, Tuck Anything after these is pretty much in the second tier. Again, that doesn’t mean they aren’t great schools, but you they are probably more regionally focused.
BiPolarBoyBoston Wrote: > > Can you share with us your background? University > of Chicago Part-time MBA is my top choice of any > program out there. > > I heard UofC was pretty rigorous in terms of > quant, where did you end up going after finishing > the MBA? What about your peers? Did the > part-timers get the same opportunities as the > full-timers in terms of career placement? Would > obtaining the CFA help with admissions? I work with a couple guys that went to Univ of Chicago part time. I actually asked one myself about the quant. He said it is as tough as you want to make it. Many courses are electives so you can get by with little quant-intensive stuff if you really want to.
CFAdetroit Wrote: > I work with a couple guys that went to Univ of > Chicago part time. I actually asked one myself > about the quant. He said it is as tough as you > want to make it. Many courses are electives so > you can get by with little quant-intensive stuff > if you really want to. That’s true. For example, each person has to take a statistics class but can either be Business Statistic, Applied Regression Analysis or Financial Econometrics. You can choose the class to take depending on your background and how hard you want to work.
soma80 Wrote: ------------------------------------------------------- > Top 7? Top 7 by whose account? There is enough > variance amongst the rankers (and even between > years with respect to US News and World Report) > that I think top 7 seems a bit nit-picky. > > In terms of part time programs, graduates of NYU’s > part-time progam will be quick to let you know > that they are the #1 ranked part time program, but > I doubt NYU is a top seven school. Ya but recruiting for NYU’s parttime is horrible. I think networking is so crucial for biz school.
ValueAddict Wrote: ------------------------------------------------------- > FrankArabia Wrote: > -------------------------------------------------- > ----- > > I find it difficult to believe that MBA is > easier > > then a CFA considering the amount of money you > > have to pay. > > > > how are you guys financing your MBAs? those > things > > are a huge investment. 2 years off work plus > > tuition plus other expenses. > > Loans + Savings = Negative Net Worth The real question is whether: Present Value of Future Earnings with MBA - PV Future Earnings W/o MBA - Loans > 0