Cox students - tell me about your experience

[CalallenStang]

And 3) many people who don't like their jobs just go get an MBA and don't have true experience necessary for upper management

If you think about it, that fits in well with the #2 thing that I stated

[Digetydog]

And 3) many people who don't like their jobs just go get an MBA and don't have true experience necessary for upper management

If you think about it, that fits in well with the #2 thing that I stated

If anyone is serious about going to Wall Street, they need to get their MBA early from a top tier program. They are not going to hire a 30+ year old for a MBA level I-banking position. They want people with quant skills and they want them young.

During my interviews, my age (30) came up more than once.

[SMUvet]

There is nothing quantitative about an MBA program. You can gain more quant skills from an undergrad finance degree especially if you get the +1 (MSF/Financial Engineering). You generally need 3-5 years post undergrad experience to get into a good MBA program. McCombs class of 2016 average age is 28.

I personally know many people who are 30+ and I-Banking for BB that went to great MBA programs around 30 and graduated around 32. None of them were business undergrads. Mostly history/art/etc and some economics but never worked in that field.

If you are getting an MSF and have an undergrad in finance there should be no reason to ever get an MBA. Most great bankers never get an MBA. Maybe consider a CFA if you are looking for more finance speciality. If you take a back-mid office role MBA/CFA will probably be required to move up. Front office roles are the way to go. Some mid office roles can be unique but be skeptical. You will never use your degree in BO. Avoid back office (BO) at all costs.

Remember the reason MBAs command a higher pay is they are experienced and have management skills. In the end management generally pays more than technical work (trading excluded).

Keys to work:
-Read the journal daily
-Be on time and reliable --> gain trust
-Get along with others --> network
-Dont turn in incomplete/unreliable work --> gain trust
-Be proactive
-Have a voice
-Have integrity --> gain trust
-Evaluate your strengths and weaknesses (know your worth)
-**Work hard**

No MBA required. I just saved you a ton of money.

[Digetydog]

There is nothing quantitative about an MBA program.

If someone wants a job on Wall Street, they better take all the finance courses available. If they can't convince the Wall Street recruiter that they can do the hard math, they won't get hired.

In my program, the recruiters wanted to see how students did in a course known as "bond math."

[tristatecoog]

I don't think the OP was trying to get into IB.

What I remember, to get a job at a bulge bracket IB from an MBA program, they wanted:

1. prior analyst experience
2. strategy consulting experience or
2. prior credit, bank analyst, leveraged loan experience

in that order. To get an associate gig and not have any of those, you needed a top 10-20 undergrad, good MBA quant skills and strong knowledge about the business. High GMAT was a must and college grades also factored in highly.

Now it seems that Wall Street is much less in vogue except as a conduit to get into private equity. Tech firms are the way to go.

[RebStang]

I don't think the OP was trying to get into IB.

What I remember, to get a job at a bulge bracket IB from an MBA program, they wanted:

1. prior analyst experience
2. strategy consulting experience or
2. prior credit, bank analyst, leveraged loan experience

in that order. To get an associate gig and not have any of those, you needed a top 10-20 undergrad, good MBA quant skills and strong knowledge about the business. High GMAT was a must and college grades also factored in highly.

Now it seems that Wall Street is much less in vogue except as a conduit to get into private equity. Tech firms are the way to go.

I think a lot of people forget (not saying that you are) that there's more to investment banking than the corporate finance and S&T side. I'm not in the business but a friend of mine has told me that the best "back door" into a great job at an investment bank is research... equity being preferred but even fixed income is "good".

I'm starting my MS in Finance this summer and that's actually the track I'm really concentrating on. Sure, the income potential isn't the same as the corporate finance side but I think that, at the end of the day, either track has the potential for 'life changing' incomes.

[tristatecoog]

If equity research is your passion, consider taking CFA Level I this December. That combined with the MSF will help.

[Digetydog]

I don't think the OP was trying to get into IB.

What I remember, to get a job at a bulge bracket IB from an MBA program, they wanted:

1. prior analyst experience
2. strategy consulting experience or
2. prior credit, bank analyst, leveraged loan experience

in that order. To get an associate gig and not have any of those, you needed a top 10-20 undergrad, good MBA quant skills and strong knowledge about the business. High GMAT was a must and college grades also factored in highly.

Now it seems that Wall Street is much less in vogue except as a conduit to get into private equity. Tech firms are the way to go.

I think a lot of people forget (not saying that you are) that there's more to investment banking than the corporate finance and S&T side. I'm not in the business but a friend of mine has told me that the best "back door" into a great job at an investment bank is research... equity being preferred but even fixed income is "good".

I'm starting my MS in Finance this summer and that's actually the track I'm really concentrating on. Sure, the income potential isn't the same as the corporate finance side but I think that, at the end of the day, either track has the potential for 'life changing' incomes.

There are definitely different ways to get yourself in the door (persistence and networking is key), but anyone going down that path needs to know what they are getting into.

When I was interviewing with one of the Big Banks, their recruiter was selling me on the "positive" aspects of the job. His pitch: "if you go to our office on any Sunday afternoon, everyone will be in the office working [deleted] deals." In his mind, working 24/7/365 was a positive.

During the Summer, one of the banks took its Summer Associates to a night game at Yankee Stadium. After the game was over, everyone went back to the office to work.

[RebStang]

I don't think the OP was trying to get into IB.

What I remember, to get a job at a bulge bracket IB from an MBA program, they wanted:

1. prior analyst experience
2. strategy consulting experience or
2. prior credit, bank analyst, leveraged loan experience

in that order. To get an associate gig and not have any of those, you needed a top 10-20 undergrad, good MBA quant skills and strong knowledge about the business. High GMAT was a must and college grades also factored in highly.

Now it seems that Wall Street is much less in vogue except as a conduit to get into private equity. Tech firms are the way to go.

I think a lot of people forget (not saying that you are) that there's more to investment banking than the corporate finance and S&T side. I'm not in the business but a friend of mine has told me that the best "back door" into a great job at an investment bank is research... equity being preferred but even fixed income is "good".

I'm starting my MS in Finance this summer and that's actually the track I'm really concentrating on. Sure, the income potential isn't the same as the corporate finance side but I think that, at the end of the day, either track has the potential for 'life changing' incomes.

There are definitely different ways to get yourself in the door (persistence and networking is key), but anyone going down that path needs to know what they are getting into.

When I was interviewing with one of the Big Banks, their recruiter was selling me on the "positive" aspects of the job. His pitch: "if you go to our office on any Sunday afternoon, everyone will be in the office working [deleted] deals." In his mind, working 24/7/365 was a positive.

During the Summer, one of the banks took its Summer Associates to a night game at Yankee Stadium. After the game was over, everyone went back to the office to work.

I've heard similar stories and really wonder why anyone would want to subject themselves to life as an associate on a deal team at a big investment bank. Oh, sure, those who survive and get promoted in 4 or 5 years make a ton of money but, from what I've heard, most burn out in 3-4 years and escape to something else. Of course, it seems like exit opportunities are the real reason anyone wants to go into that area of investment banking.