A 3.5 GPA is fine, especially for a quant-heavy major. Admission committees (adcoms) sometimes worry if potential students can handle the math of 1st year courses and your education puts that to rest. I do know that some adcoms can be a little weird about accountants so I would definitely stress the corporate finance side of your work experience. Speaking of which you're in about the sweet spot as far as work experience is concerned. With a decent GMAT and story, an elite MBA is within arm's reach imo.
As a random note, I don't know how common this is, but, I didn't have to take any examinations (GRE or what-have-you) to get into a Master's program (and I actually attended two different universities during my Master's - transferred a couple of semesters in, to get into a program that was a better fit for me - and neither of them required it).
Only thing I can really think of is that, since my Master's was in Education, that since there are already a set of teacher licensure tests that are required to be passed, they figured that was enough.
Honestly kind of disappointing if anything, considering I've always done fine on tests. For the teacher licensure tests, I finished half-way through the time we were given and was the first one done. And I passed on my first attempt, while plenty of other people I know had to take them multiple times. But, I guess, if nothing else, it was less money to have to put out for tests, so, that's something.
It probably depends on the state since I had to take my GRE, along with Praxis 1 and 2.
Did terrible on the GRE, the praxis exams on the other hand I slept-walked through and still crushed.
A 3.5 GPA is fine, especially for a quant-heavy major. Admission committees (adcoms) sometimes worry if potential students can handle the math of 1st year courses and your education puts that to rest. I do know that some adcoms can be a little weird about accountants so I would definitely stress the corporate finance side of your work experience. Speaking of which you're in about the sweet spot as far as work experience is concerned. With a decent GMAT and story, an elite MBA is within arm's reach imo.
I have my PhD in bio, currently slaving away as a postdoc. Looking for industry jobs.
General. Sorry, I'm in a bit of an anger tonight because I can't for the life of me concentrate on the reading comprehension section. ARGH.
Good to know. My issue is that my job title is called accounting analyst but the work I do is highly related to business analysis, cost structuring, production analysis, etc. Hopefully they don't get caught up in the job title.
Do you have any advice on full time vs. part time? My dream school is UCLA, and they have solid program in both... It's hard for me to swallow the idea of quitting my job and having no income for two years.
I'm coming from a Big 4 background (2.5 years audit, 1.5 years business valuation consulting by matriculation) with a 3.6 GPA in finance and accounting from a top 30 undergrad, a 740 GMAT, a CPA, and a CFA level III exam candidate. I feel like getting in is a huge uphill battle for me because of the time in audit. Unless you're a female minority, I feel its easy for adcom to dismiss an auditor's application.
The hearsay is that adcoms don't like how auditors 'think' and aren't particularly interested in the work experiences auditors have had within the first 4-6 years of their careers. Also, the problem is compounded by the sheer number of people in the Big 4 nationwide, many of which are interested in getting an MBA. Whenever my time in audit comes up, I feel I need to dance around it very, very carefully.
So far I've had 3 school interview offers, and I'm waiting to hear back from 2. I chose schools across the spectrum of the top 15. I'll update this post when I know final results.
I've an MBA. Wasn't aware there was need for a specific community.
I'm graduating from a top 5 MBA program this Spring. I'd be happy to answer any questions about admissions processes if people have them.
Some somewhat subjective advice:
- Go to the best school you can get into, regardless of cost. The ROI for the top schools is historically impressive. Of course there are exceptions to every rule, but the consensus is that employers really only value MBA degrees from top 10 programs. This may sound harsh, but if you can't get into a top program, I would seriously reconsider getting the MBA, and go with a more specialized degree/ certification option.
- Once you get in, take full advantage of the Career center at your school.
- Get involved in as much as you can. This goes with the previous advice. Network your ass off. Studying and working hard is important, but networking and taking advantage of opportunities is much more valuable. Remember the goal is to get a good job. Getting good grades, while a factor in getting a good job, is really a very small factor. MBA grades are somewhat meaningless. If you get into a top MBA program, employers know you're intelligent. They now want to see how you work with others and if were you involved and outgoing.
- If you're worried about getting in, look into part-time opportunities and weigh the pros and cons. Part-time programs are typically a little easier to get into and you still get the same degree. You also don't have the massive opportunity cost of not working for 2 years. Some employers even offer some sort of tuition reimbursement. However, be advised that the recruiting opportunities for part-time are usually limited. If you're looking to switch careers, part-time can be rough. Also, play close attention to the stipulations that go along with tuition reimbursement, it can be quite hampering once you get out of school.
If you have any specific questions, feel free to PM me. I loved my MBA experience. While it is a lot of work, it has been extremely rewarding and has provided me with a lot of opportunities I would not have otherwise had.
how much more difficult is the GMAT compare to the GRE? I didn't study for my GRE test at all and the only part I struggle was the writing.
In terms of difficulty:
LSAT>GMAT>>>GRE>>>>>SAT
Go to the best school you can get into, regardless of cost.
Could not disagree more, while I will not dispute a top program will make employers sit up a little straighter, you can absolutely get a great graduate degree without acquiring a 6-figure student loan debt in the process.
When looking at M.A. Communications programs, I gave serious consideration to USC in Southern Cal, but the tuition for the 2 year program was over 120K. Ended up proceeding with Gonzaga University, a private Jesuit university based out of Washington for a third of what USC was asking for.
My experience was great and the degree earned me consideration and ultimately an offer at one of the top management consulting firms in the country.
Moral of the story is that you don't need to overspend for the sexy name schools when there are a number of excellent options that are not obscenely overpriced.
To be fair, Drey was talking about MBA programs specifically, not Masters degrees in general. I'm actually still in agreement with you, but just wanted to point out the minor difference.
Could not disagree more, while I will not dispute a top program will make employers sit up a little straighter, you can absolutely get a great graduate degree without acquiring a 6-figure student loan debt in the process.
When looking at M.A. Communications programs, I gave serious consideration to USC in Southern Cal, but the tuition for the 2 year program was over 120K. Ended up proceeding with Gonzaga University, a private Jesuit university based out of Washington for a third of what USC was asking for.
My experience was great and the degree earned me consideration and ultimately an offer at one of the top management consulting firms in the country.
Moral of the story is that you don't need to overspend for the sexy name schools when there are a number of excellent options that are not obscenely overpriced.
Could not disagree more, while I will not dispute a top program will make employers sit up a little straighter, you can absolutely get a great graduate degree without acquiring a 6-figure student loan debt in the process.
When looking at M.A. Communications programs, I gave serious consideration to USC in Southern Cal, but the tuition for the 2 year program was over 120K. Ended up proceeding with Gonzaga University, a private Jesuit university based out of Washington for a third of what USC was asking for.
My experience was great and the degree earned me consideration and ultimately an offer at one of the top management consulting firms in the country.
Moral of the story is that you don't need to overspend for the sexy name schools when there are a number of excellent options that are not obscenely overpriced.
I'll avoid using a PM because I think any responses can be helpful for the group.
- How do you feel about your first comment without a significant savings plan in place? As in I've been in my professional career for close to three years now, however my extra income has gone mostly to existing debt (undergrad/car). By the time I want to go to get an MBA I plan on having this completely paid off (should be done within the next year and a half), however my actual savings is very limited and will not last long. Going into a full time program with no financial support and no incoming income scares the fuck out of me.
- Absolutely. I think people should do this even in their undergrad. It's scary how few people actually utilize what a school provides them. You're paying for this shit people.
- This is what I'm afraid of from the part time perspective. The networking ability seems to drop off a cliff compared to the full time opportunities. If I do go to get an MBA I want to leverage it to switch industries, and I'm afraid a part time will not offer this and will just leave me with where I am but with the ability to negotiate higher promotion.
- Kind of goes into my previous comment, if I'm looking to switch industries, how likely is that with a part time program? Today I could probably easily convince my employer to relocate me to where I want to go for part time (UCLA), and they would pay around $15K, but I wouldn't plan on staying with them in the long term. I want to switch to media/entertainment which is why LA is my target geographically... if I did the part time route would it make more sense to attempt to get a new job with an employer I want and then plan on going to get a part time MBA?
Thanks for everyone's help.
QFT.
I got my MBA from an "unranked" but respectable school, got it 100% paid for through scholarships, and have reaped the benefits from day one.
Colleagues actually bring it up somewhat regularly that I have an MBA, but no one asks or cares where I got it. Of course this is only my experience, but I had the chance to go to a ranked program and turned it down due to the cost. Turned out really beneficial for me.
This is hard to answer, as everyone's situations are quite different, but personally, I still think it's worth it regardless of your current savings level to accept an offer to a top MBA program. If your concerned about savings, a lot of good programs offer part-time and and Saturday options.
However, as you're looking at career switching, i would very much try to do full time. Even if your savings are scarce, you always have options for loans (not idea) and other things to help you get by for the two years, and if you're in a top program, you should be good for jobs when you get out.
With a little less than 3 years work experience, you're on the low end for most top programs. I would try to get a few more years in the real world under your belt. Focus on making yourself a strong candidate and and saving in those years, and then look into applying. Be wary of employment reimbursement. Every little bit helps, but it's very unlikely that there wouldn't be a stipulation attached that you will have to stay with that organization for some time after graduation, typically a couple years. For a career switcher, that's going to be a major issue when you graduate.
Graduated from NYU Stern with my MBA last year. Went part time for 2.5 years and networked a job change to a Fortune 50 company midway through the program.
GMAT is BS, get 700+ and forget it. GPA was 3.5 from a public university with a B.S. in Finance. I interviewed for full time at Duke, UNC, Chicago and Cornell before my situation changed and part time made more sense at NYU.
Its really all about networking. Made a bunch of friends that I will have for years to come, all of which are spread across various functions and industries. We partied in NYC every weekend and made a couple overnight trips to Atlantic City. I learned a lot and thoroughly enjoyed the classes but the content there pales in value to the network I made.
Your background sounds a shit ton like me. We're you broke in NYC though? Are you carrying a ton of loans now? How do you feel about network opportunities in a part time program?
I'm not saying that you can't be successful outside the top programs. All i'm saying is that under normal circumstances, I personally would try to stick to top schools only. Of course having a full scholarship somewhere is definitely a major factor in any decision, and it appears you made the right one.
I've been considering an MBA, but man it is pricey. I'm debt free now and have been studying books--Personal MBA, but the networking thing is priceless and you can't get that from books.
My fears is that best opportunities are full time and getting out of the work force for two years, plus I'm 33 now. No spring chicken, so I don't how good it would look getting out of the workforce at my age for too years.
I fear doing an executive program since the networking is limited.
I'm a software trainer now and while I like my job, I'm finding it hard to advance.
Anyone had similar concerns?
Awesome dude! What area?
I'm in my third year of a neuroscience phd, really don't wanna teach so I may be setting myself up badly but we'll see
MSc in International Public Policy. Then I delivered sandwiches for a year.
You hiring?