Thanks for the video. 45 year old Accountant getting an MBA/Finance from a local but reputable school. Undergraduate degree from Phoenix and have been low-balled for almost 15 years. Currently free-lancing for small businesses but looking to get back into corporate on the Finance side in a few years.
Oh that's a good one, maybe down the road. I think very poorly of the CFA to be honest. Feels like a pure waste of time. Successful people sometimes get it because they need it to do their job (e.g. in Canada you need it to manage money after a certain point), but virtually no one gets a job because of their CFA. There are much better ways to spend the money and time.
@@PeakFrameworks Thanks for the reply. Could you do a video addressing the CFA's pros and cons along with the alternatives? E.g. Masters in Applied Finance or Financial Engineering and its relevance to finance and investment overall. After watching the video, I was left wondering if there are better ways to deepen knowledge and application within finance. I believe MBA teaches more management with broader focus across each business discipline. Thanks.
@JS C I see. Thanks for the reply! I am looking at a career as a portfolio manager in the future. I did a double major in accounting and finance at an Australian GO8. Graduated in 2019, currently am working in asia as a corporate finance associate. I was wondering if you could provide me some pointers given your background. 1. What's the best way to enter the fund management industry? 2.Would a postgraduate in statistics or any other professional accreditation help? (P.S. I am looking to focus in Asia) Much appreciated.
I’m at a mid-tier big10 MBA program with minimal debt. The only risk I really have is purely the opportunity cost. I’ve never necessarily been Ivy material, but I am enjoying the process. This is coming from the angle of studying for the CFA and CFP.... the MBA is considerably more enjoyable.
Top business schools are still worth it- The networks are really powerful. Even regional powerhouses like USC and UCLA provide strong networks. In terms of learning, mmmm, it depends on your class choices. Top schools have great courses but you can also get away with easy classes as well. You can go golf or play almost every other day if you just take the easy classes.
I agree with most of what you said but I dont agree with an MBA being an efficient way to make a career change. Its effective but is time consuming and VERY expensive
As a non-american I must say that I am genuinely shocked right now. 200k USD of debt while people who refrain from attending business school can build up their wealth...I mean consider the compounding effect on investment returns.. BusSchool does not sound reasonable to me unless its really for a job switch. Sure, increasing your future earnings potential is definitely one of the perks but what happens when you become long term sick or disabled after Business school? Paying back the loans would be impossible.
Yeah I agree, it's a tough sell. You need to exit to a crazy high paying job for it work. It's a long-term investment that is hard to justify from a purely monetary standpoint in the short term.
Thank you for your great videos! I am currently reaching a sharp fork in my career and it's very difficult for me to choose frankly. I would love to hear your opinion. - I'm in a sovereign wealth fund ("SWF") working in the co-investment private equity space - I come from very small country, but do have special visas to work in the US - I am currently working in a SWF, and would want to eventually move over to the US or back to Asia - I do not have the American/British accent - I did HEC Paris for my Masters in International Finance and National University of Singapore in Economics - 5 years experience in PE, mostly buyside experience though.. - Self-funded and hence can be quite a hurdle My main reason for wanting to take an MBA is so that I can have a brand name education (Wharton, Harvard, Chicago or Columbia) and I would like to have more doors open by heading into bulge brackets for a year or two and return to SWF/mid-market PE or perhaps work on entrepreneurship Please advise, I really want to get an MBA but the opportunity costs, the energy to restart my career can be draining. I feel stuck in my current role, with a glass ceilings and what i really want meet really talented and motivate people (not like where I am now), and to do are more direct private equity so that eventually in the long run i can work my way up as a partner in a private equity, and not merely an public servant in a SWF
I think if you're pretty sure you want to stay in business / finance in the long run, the MBA makes sense. I think you have a good enough resume you can probably move around to different roles if you like. If you want to get a better job in the U.S., an MBA is probably the easiest option. If you want to do entrepreneurship, I think that MBA is not needed (for most paths).
Most important thing is not WHERE you get your degree But how you use your degree- if you put in the effort to learn and to apply- the mba isn’t relevant. You are the reason why you grew and climbed the ladder sorta speak
Great video! What if I go back and get a second bachelor's degree in finance? I'm 25, and seriously considering this. In banking, a lot of internships and positions seems open to undergraduates. Also, it's significantly cheaper. I would be going to a semitarget
Depends on your current degree and job. If you're already in finance, then I would try just switching directly to banking through laterals and working at boutiques. If not, then I think that would qualify as a career switch and would still recommend an MBA.
@@PeakFrameworks how does that switch work though? Many people that apply have 4-6 years of working experience. I'm 2 years out of school. In two years I could hypothetically get an internship as an undergrad and hopefully a ft offer. Obviously that's the best case scenario. If I got a master's, i would have no income and I would hopefully have to get into a top school to have a shot. Even then, would I start as an analyst or an associate? Thank you for sharing your insights
@@ihurricane7 So honestly, it really depends on what your current experience is. If you're anywhere close to finance, I'd recommend trying to directly switch. I've seen people switch into IB from Big 4 accounting, transaction services, and corporate finance at F500. But some paths like marketing and operations are going to be too far in which case I would recommend going back to school. If you're debating between undergrad and MBA I would still think MBA makes most sense. You're not making income in either. MBA is going to be shorter. You'd be going for an associate position.
I work in financial aid at a university and I do not have a finance degree. I get paid well because I've been here so long. I know some employees with higher degrees who get less than me because I have more experience. I'm only looking into an MBA because my employer helps pay. I just don't know if I want it enough to do the work.
I’ve watched several of your videos and they are very insightful. I have a quick question. Do you see big 4 accountants make the switch to IB? If so, would you recommend going for an MBA at a top school, or is it possible to make the transition directly through referrals, networking, and grit? Thank you for the great info that you provide. Appreciate it a ton.
Thank you, that means a lot! Yes, I've seen a couple of Big 4 switch to IB. The best thing about Big 4 firms is that they have in-house M&A advisory / transaction services teams. My recommendation would be to lateral to one of those groups first. Then switching to IB should be much easier. To be honest, I've even seen some people on Big 4 M&A advisory teams switch straight onto the buyside. I wouldn't worry about getting an MBA unless you find yourself really stuck.
Peak Frameworks Thank you for the advice! I’ve heard so much that the only way into IB is through a top MBA program. Really the only reason I would pursue one after big 4 would be to get into IB or PE. I really appreciate your suggestions. There are not too many people in the industry on RUclips providing the info that you do. Hopefully this channel blows up. Thanks!
@@basketballhero84 mba isnt only way to IB. if you go to target school, they will recruit. if you dont, then network. if you work at Big 4, your accounting skills will give you an advantage and you can get a role. mba is another option.
Well yeah MBA applications are down because good programs cost a lot. $50k+ I got an undergrad in MIS and getting a masters in finance & business analytics.
Thanks for the great video! So, I’m trying to decide if I should get an MBA. If I did, I’d only apply to Harvard or Stanford. My background: 1. Stern undergrad in Actuarial Science 2. 2 years in data analytics work in P/C insurance in New York 3. Master of financial economics at Oxford 4. 2 years strategy consulting in P/C insurance in Asia Goal: Working in healthcare financing either by starting my own firm (I’m actively pitching my idea) or with an appropriate company (Verily, insurance companies, brokers) Would an MBA materially affect compensation and career trajectory for someone with my background?
I think if you have an MFE from Oxford you're probably pretty good from a credentials standpoint. I would probably just stay on your path and avoid the MBA. Especially if you're already in consulting.
My dude. Love your videos. I have a question for you. I've been thinking about making a career jump lately and your content has been really helpful for someone who doesn't have any contacts in the world of finance. I've been a product manager at a tech startup for about three years during my undergrad and have come to realize that I don't wanna be stuck in this field forever. I'm about to graduate with a degree in Econ and have a killer GPA. I know that making a switch can be difficult, but I do think I wanna try my hand in finance even though I have no prior experience. Is an MBA gonna be the easiest way to cross over into consulting, Ibanking or money management?
If I were you I would try going straight into finance right now. PM is a solid role that will be a good proof point of you being smart and you haven't graduated yet. If you go to a pretty good school, you can try to go straight into a VC or growth firm (e.g. Insight Venture, Silversmith, etc.).
I'm 35 year old working in Finance industry with only a BA in Economic making 150k+bonus in So Cal. MBA is straight overrated. I do know how to code though, so that probably help. When hiring someone, I would give a rat ass if he/she has any of those degree.
Does an MBA make sense after you’ve reached the Associate level at a BB? Me: Non-target school (2018 grad) -> corporate banking/credit -> investment banking associate at BB. Starting as an Associate 1 alongside predominantly post-MBAs
I wouldn't get an MBA if your goal is to just progress in IB. Maybe get one if you want to switch to a different industry (product) or if you're having a tough time recruiting for PE / HF. I think average age for MBA is ~27-29 so you've got time.
Indeed you literally pay for a two year harbor and recruiting oops...to really learn something I suggest at least enroll in a joint degree or do a PhD in finance/Econ at top bschool and exit after 2-3 yr with a master degree
Too any body that has advice: I plan on getting into Private Equity out of college as an Analyst. Would it still be worth it to get an MBA because I've read that since hiring out of college is becoming more common for PE that an MBA for Senior PE roles are becoming less needed. What are your thoughts on this cause I can get an MBA from my college in one year as a fulltime student and just enter work force at 23. My college is a top 50 MBA so no Wharton but still a great school.
Thanks for amazing insights! I had a question - I’m an IB operations analyst at a BB in India! I want to move to front office banking! Would an MBA be helpful in my case? Also, how does the adcoms of top b-schools view operations experience on a candidate?
I would desperately try for a lateral to a different division first. If after a year with no progress, yes MBA is probably your only bet. Operations isn't viewed very favorably.
Which one is a better option: MBA or MSF? Especially for people who already majored in finance/business administration during their undergrad study? Thanks!
Depends on the school, but I think MBAs are generally better. You get a stronger network, more opportunities to recruit, and there's a longer track record of success.
Great video man! I was wondering for someone coming from a Computer Science degree and already working at a big company doing Software Engineering. Would it be best for me to pursue a MBA concentration in Finance? I want to make a career move into finance but I’m outlining the opportunity cost of spending two years and not being able to get a position I’m interested in. A lot of people out there are saying do a MBA instead of a MSF due to it having a broad list of topics. Would love to hear your opinion! Thanks in advance!
Yeah I would personally do MBA over MSF, I just think the programs are overall stronger for MBA. You get to build more of a network and I think the recruiting is more systemized. You'll probably need an MBA coming from engineering.
I’m in my early 20s working for a private equity firm that’s offering to pay for my MBA with the contingency that I return for 2 years post graduation. What would you say in that case?
In a small liberal arts college now at 16, focusing on STEM. Hoping to transfer to a more prestigious school with a good business program, and then hopefully to a top MBA program. Basically the only reason I considered any of this was the fact I’ll leave all of these schools debt free, which I am insanely grateful for. Hope to have a career in the Finance / Entrepreneurship world… luckily have some family connections (COO @ DE Shaw and MD @ Goldman, both educated @ HBS), but I honestly don’t know if those are worth anything when it comes to future recruiting and opportunities. I’m very close to the person working at Shaw, so I kind of feel like that could maybe help? Any ideas? Thoughts?
Get real world experience before MBA. If you want to do finance then you should just transfer and go for it. If you're at college at 16 though then maybe you want to do something more ambitious than just investment banking...
It's my second year of working as a management consultant but I want to know if getting a MBA degree will outweigh the opportunity cost of working for those 2 years
Maybe if you do H/S/W or if you want to switch into product or the buyside. But generally I don't think you'll feel like the trade off is worth it until later in your career.
Thoughts on Wharton (at full price) vs an M7 (full tuition scholarship)? Currently making 170 at a no name company in an offbeat industry (like construction) and hoping to get into big tech. Is it worth even going? Didn't get into H/S
I think it really depends on the M7 if the goal is big tech. I'd probably just go to the M7 because I don't think Wharton's placement is going to be that much better for tech?
You mention that getting an MBA doesn't help you get into PE but what if I didn't start in Finance to begin with? I haven't worked for any large companies and my background is in accounting. I want to switch. Should I get an MBA?
Yeah if you didn't do finance, you need to get an MBA or do masters. If you're vaguely in business I would still try lateraling first a few times to break into finance though.
I personally wouldn't. I honestly probably wouldn't go to Wharton either even personally. It seems like there's a big quality cutoff between HS and W from my view.
@@PeakFrameworks Damn. Okay. I guess the difference is you have pedigree having done a commerce degree and IB experience and I don’t. I need anything I can to pivot. I got an interview to Haas and am waiting to hear back from other schools. One can dream.
Is it worth getting an MBA later in life? Im 27 now and thinking about it. Now I dont know if I will move to America ever but the only way in so far is thru studying at some University there. And that would be an MBA program. I am mainly focusing on accounting or management. Im not the best at math so
With a Masters in Financial Economics from Erasmus Rotterdam, do you think an MBA would make sense? I have some experience at a boutique tech investment bank in a DACH country, but I would like to pivot to consulting at MBB.
Hi I'm from Southeast asia Just wanna to ask. Do you think someone who came from IB background,top IB in Southeast asia (not wall street bank) + top regional PE firm +strong leadership n extracurricular will have a good shot at M7 schools..or there's clear disadvantage compare to someone who works in top BB/EB bank in USA?
Hello, I just recently graduated with a B.S. in Hospitality/Tourism Mgmt but I plan on making a career switch towards Finance due to Covid-19/other reasons. I plan on starting an MBA program with a concentration in Finance. Could you offer me some other brief advice/suggestions if possible?
@ADommM Laughing at Boomers so basically if it isn’t a target school I shouldn’t even start an MBA Finance program? I was going to try and volunteer at smaller firms to network and get the hang of things
Do you think someone with a healthcare degree backround would do well with a MBA in Finance. I'm in an online program and I need to pick a specialization. I'm in between healthcare management and Finance. I like the more opportunities with finance for international jobs and also the content is very useful for opening my own business in the future. Healthcare management would fit well with my degree but l dont want to settle.
It's kind of hard to answer without more information about yourself. I don't think finance is a good career path to sort of "stumble into" to be honest. It's a big time commitment and the roles are very intense. I think healthcare and finance are sufficiently different that you should try talking to specific people in those fields. I'm not really sure what healthcare management is to be honest.
im currently an oncoming senior in highschool aiming to get into Wharton or Harvard Business. Do you recommend any advice on how to gain experience and how to start networking early so I can be ahead of the game. My goal is to one day own a hedgefund.
Honestly, just focus on getting into a good school for now. If you get into either Wharton or Harvard, the amount of networking you have to do is so much lower. You should reach out to people with similar backgrounds as you to see if they'll mentor you (same high school, clubs, community, etc.). Most people don't open their own hedge fund until they're 40+, so you have many years of hard work until that will be viable!
MBA meme is hot garbage, don't fall for it unless you are going to a global top tier school (Oxford, Cambridge, Harvard, Stanford, Wharton etc...) I'm a business undergrad but will be moving to Masters of Data Science if ever go back to school.
@@PeakFrameworks Thanks for the reply! I'm already currently in my 2nd year at Big 4 audit and brought up to my director that I was interested in switching over to our valuations group. She told me that internal transfers to the valuations group isn't available until the end of my 3rd year. Do you think I would be better off doing Big 4 audit 3 yrs --> valuations 1-2 yrs --> IB analyst, or Big 4 audit 3 yrs --> MBA (start fall 2022) --> IB Associate ? I want to stick around another year before doing my MBA because I've already missed round 1 for MBA apps for 2021, and due to the rona job market, there are more MBA students for 2020 and 2021 compared to "normal" years which would increase the competition for the available IB associate spots. Thanks for your thoughts.
Hey I’m an Indian Teenager, 17, im about to finish how school here in India and am not able to decide whether to do my undergrad in the US at a decent school or do undergrad here in India and go to USA for MBA. I’m looking to get into IB btw
@@PeakFrameworks It is really not that hard. Not compared to some medical schools or getting into some top tier PE firms etc. I know many very average candidates at Harvard MBA. Good but nothing special.
Found this incredibly helpful - thank you!
Two of my favorite you tubers
Thanks for the video. 45 year old Accountant getting an MBA/Finance from a local but reputable school. Undergraduate degree from Phoenix and have been low-balled for almost 15 years. Currently free-lancing for small businesses but looking to get back into corporate on the Finance side in a few years.
Get that $$$!
Can you touch on the CFA and your thoughts about it in your future videos. Thanks.
Oh that's a good one, maybe down the road. I think very poorly of the CFA to be honest. Feels like a pure waste of time. Successful people sometimes get it because they need it to do their job (e.g. in Canada you need it to manage money after a certain point), but virtually no one gets a job because of their CFA. There are much better ways to spend the money and time.
@@PeakFrameworks Thanks for the reply. Could you do a video addressing the CFA's pros and cons along with the alternatives? E.g. Masters in Applied Finance or Financial Engineering and its relevance to finance and investment overall. After watching the video, I was left wondering if there are better ways to deepen knowledge and application within finance. I believe MBA teaches more management with broader focus across each business discipline. Thanks.
@JS C I see. Thanks for the reply! I am looking at a career as a portfolio manager in the future. I did a double major in accounting and finance at an Australian GO8. Graduated in 2019, currently am working in asia as a corporate finance associate. I was wondering if you could provide me some pointers given your background.
1. What's the best way to enter the fund management industry?
2.Would a postgraduate in statistics or any other professional accreditation help?
(P.S. I am looking to focus in Asia)
Much appreciated.
@@josephwjs .. by Asia, do you mean the extreme east? East and South-East Asia (this includes Oceania)
@@KBS_ar Yes. APAC region. Currently based in SEA.
I’m at a mid-tier big10 MBA program with minimal debt. The only risk I really have is purely the opportunity cost. I’ve never necessarily been Ivy material, but I am enjoying the process. This is coming from the angle of studying for the CFA and CFP.... the MBA is considerably more enjoyable.
Minimal debt really is a game changer. Glad you're enjoying it, hope you crush recruiting!
This channel is too underrated!
I’m studying international business but I’m hoping to pursue accounting / finance so I might look into mba so thank you for the insights!
Consulting no longer requires an MBA
love this guy
so clear and honest
Top business schools are still worth it- The networks are really powerful. Even regional powerhouses like USC and UCLA provide strong networks. In terms of learning, mmmm, it depends on your class choices. Top schools have great courses but you can also get away with easy classes as well. You can go golf or play almost every other day if you just take the easy classes.
You're super helpful man! One of the best channels I've found
I agree with most of what you said but I dont agree with an MBA being an efficient way to make a career change. Its effective but is time consuming and VERY expensive
As a non-american I must say that I am genuinely shocked right now. 200k USD of debt while people who refrain from attending business school can build up their wealth...I mean consider the compounding effect on investment returns.. BusSchool does not sound reasonable to me unless its really for a job switch. Sure, increasing your future earnings potential is definitely one of the perks but what happens when you become long term sick or disabled after Business school? Paying back the loans would be impossible.
Yeah I agree, it's a tough sell. You need to exit to a crazy high paying job for it work. It's a long-term investment that is hard to justify from a purely monetary standpoint in the short term.
NPV baby!
@ADommM Laughing at Boomers 100k without bonus 🤑
Thank you for your great videos! I am currently reaching a sharp fork in my career and it's very difficult for me to choose frankly. I would love to hear your opinion.
- I'm in a sovereign wealth fund ("SWF") working in the co-investment private equity space
- I come from very small country, but do have special visas to work in the US
- I am currently working in a SWF, and would want to eventually move over to the US or back to Asia
- I do not have the American/British accent
- I did HEC Paris for my Masters in International Finance and National University of Singapore in Economics
- 5 years experience in PE, mostly buyside experience though..
- Self-funded and hence can be quite a hurdle
My main reason for wanting to take an MBA is so that I can have a brand name education (Wharton, Harvard, Chicago or Columbia) and I would like to have more doors open by heading into bulge brackets for a year or two and return to SWF/mid-market PE or perhaps work on entrepreneurship
Please advise, I really want to get an MBA but the opportunity costs, the energy to restart my career can be draining. I feel stuck in my current role, with a glass ceilings and what i really want meet really talented and motivate people (not like where I am now), and to do are more direct private equity so that eventually in the long run i can work my way up as a partner in a private equity, and not merely an public servant in a SWF
I think if you're pretty sure you want to stay in business / finance in the long run, the MBA makes sense. I think you have a good enough resume you can probably move around to different roles if you like. If you want to get a better job in the U.S., an MBA is probably the easiest option. If you want to do entrepreneurship, I think that MBA is not needed (for most paths).
Most important thing is not WHERE you get your degree
But how you use your degree- if you put in the effort to learn and to apply- the mba isn’t relevant. You are the reason why you grew and climbed the ladder sorta speak
Great video! What if I go back and get a second bachelor's degree in finance? I'm 25, and seriously considering this. In banking, a lot of internships and positions seems open to undergraduates. Also, it's significantly cheaper. I would be going to a semitarget
Depends on your current degree and job. If you're already in finance, then I would try just switching directly to banking through laterals and working at boutiques. If not, then I think that would qualify as a career switch and would still recommend an MBA.
@@PeakFrameworks how does that switch work though? Many people that apply have 4-6 years of working experience. I'm 2 years out of school. In two years I could hypothetically get an internship as an undergrad and hopefully a ft offer. Obviously that's the best case scenario. If I got a master's, i would have no income and I would hopefully have to get into a top school to have a shot. Even then, would I start as an analyst or an associate?
Thank you for sharing your insights
@@ihurricane7 So honestly, it really depends on what your current experience is. If you're anywhere close to finance, I'd recommend trying to directly switch. I've seen people switch into IB from Big 4 accounting, transaction services, and corporate finance at F500. But some paths like marketing and operations are going to be too far in which case I would recommend going back to school.
If you're debating between undergrad and MBA I would still think MBA makes most sense. You're not making income in either. MBA is going to be shorter. You'd be going for an associate position.
I realize I am quite randomly asking but do anyone know of a good place to watch newly released movies online?
@Deacon Shane flixportal :P
I work in financial aid at a university and I do not have a finance degree. I get paid well because I've been here so long. I know some employees with higher degrees who get less than me because I have more experience.
I'm only looking into an MBA because my employer helps pay. I just don't know if I want it enough to do the work.
Your channel is amazing!!!
I’ve watched several of your videos and they are very insightful. I have a quick question. Do you see big 4 accountants make the switch to IB? If so, would you recommend going for an MBA at a top school, or is it possible to make the transition directly through referrals, networking, and grit? Thank you for the great info that you provide. Appreciate it a ton.
Thank you, that means a lot! Yes, I've seen a couple of Big 4 switch to IB. The best thing about Big 4 firms is that they have in-house M&A advisory / transaction services teams. My recommendation would be to lateral to one of those groups first. Then switching to IB should be much easier. To be honest, I've even seen some people on Big 4 M&A advisory teams switch straight onto the buyside. I wouldn't worry about getting an MBA unless you find yourself really stuck.
Peak Frameworks Thank you for the advice! I’ve heard so much that the only way into IB is through a top MBA program. Really the only reason I would pursue one after big 4 would be to get into IB or PE. I really appreciate your suggestions. There are not too many people in the industry on RUclips providing the info that you do. Hopefully this channel blows up. Thanks!
@@basketballhero84 mba isnt only way to IB. if you go to target school, they will recruit. if you dont, then network. if you work at Big 4, your accounting skills will give you an advantage and you can get a role. mba is another option.
habibbi alikafe thank you for the advice! 😁
Well yeah MBA applications are down because good programs cost a lot. $50k+
I got an undergrad in MIS and getting a masters in finance & business analytics.
Thanks for the great video! So, I’m trying to decide if I should get an MBA. If I did, I’d only apply to Harvard or Stanford. My background:
1. Stern undergrad in Actuarial Science
2. 2 years in data analytics work in P/C insurance in New York
3. Master of financial economics at Oxford
4. 2 years strategy consulting in P/C insurance in Asia
Goal:
Working in healthcare financing either by starting my own firm (I’m actively pitching my idea) or with an appropriate company (Verily, insurance companies, brokers)
Would an MBA materially affect compensation and career trajectory for someone with my background?
I think if you have an MFE from Oxford you're probably pretty good from a credentials standpoint. I would probably just stay on your path and avoid the MBA. Especially if you're already in consulting.
My dude. Love your videos. I have a question for you. I've been thinking about making a career jump lately and your content has been really helpful for someone who doesn't have any contacts in the world of finance. I've been a product manager at a tech startup for about three years during my undergrad and have come to realize that I don't wanna be stuck in this field forever. I'm about to graduate with a degree in Econ and have a killer GPA. I know that making a switch can be difficult, but I do think I wanna try my hand in finance even though I have no prior experience. Is an MBA gonna be the easiest way to cross over into consulting, Ibanking or money management?
If I were you I would try going straight into finance right now. PM is a solid role that will be a good proof point of you being smart and you haven't graduated yet. If you go to a pretty good school, you can try to go straight into a VC or growth firm (e.g. Insight Venture, Silversmith, etc.).
You said an mba is good for switching career fields, etc. So does that mean if you're not in a target school, you should get an mba
Can someone get into finance after MBA, while having an engineering background and experience in engineering itself.
yes, a lot of STEM majors apply for MBA's and can definitely get in.
I'm 35 year old working in Finance industry with only a BA in Economic making 150k+bonus in So Cal. MBA is straight overrated. I do know how to code though, so that probably help. When hiring someone, I would give a rat ass if he/she has any of those degree.
Master I. Finance grads from top schools are better , added with experience. MBA are often fluff.
Does an MBA make sense after you’ve reached the Associate level at a BB?
Me: Non-target school (2018 grad) -> corporate banking/credit -> investment banking associate at BB. Starting as an Associate 1 alongside predominantly post-MBAs
I wouldn't get an MBA if your goal is to just progress in IB. Maybe get one if you want to switch to a different industry (product) or if you're having a tough time recruiting for PE / HF. I think average age for MBA is ~27-29 so you've got time.
@@PeakFrameworks thank you!
Once someone pointed out to me that an MBA is an inferior good by economic definitions it really changed my perspective on it.
Indeed you literally pay for a two year harbor and recruiting oops...to really learn something I suggest at least enroll in a joint degree or do a PhD in finance/Econ at top bschool and exit after 2-3 yr with a master degree
Too any body that has advice:
I plan on getting into Private Equity out of college as an Analyst. Would it still be worth it to get an MBA because I've read that since hiring out of college is becoming more common for PE that an MBA for Senior PE roles are becoming less needed. What are your thoughts on this cause I can get an MBA from my college in one year as a fulltime student and just enter work force at 23. My college is a top 50 MBA so no Wharton but still a great school.
Thanks for amazing insights! I had a question - I’m an IB operations analyst at a BB in India! I want to move to front office banking! Would an MBA be helpful in my case? Also, how does the adcoms of top b-schools view operations experience on a candidate?
I would desperately try for a lateral to a different division first. If after a year with no progress, yes MBA is probably your only bet. Operations isn't viewed very favorably.
Which one is a better option: MBA or MSF? Especially for people who already majored in finance/business administration during their undergrad study? Thanks!
Depends on the school, but I think MBAs are generally better. You get a stronger network, more opportunities to recruit, and there's a longer track record of success.
Great video man! I was wondering for someone coming from a Computer Science degree and already working at a big company doing Software Engineering. Would it be best for me to pursue a MBA concentration in Finance? I want to make a career move into finance but I’m outlining the opportunity cost of spending two years and not being able to get a position I’m interested in. A lot of people out there are saying do a MBA instead of a MSF due to it having a broad list of topics. Would love to hear your opinion! Thanks in advance!
Yeah I would personally do MBA over MSF, I just think the programs are overall stronger for MBA. You get to build more of a network and I think the recruiting is more systemized. You'll probably need an MBA coming from engineering.
@@PeakFrameworks Thank you for the advice! Glad I am making the right decision.
I’m in my early 20s working for a private equity firm that’s offering to pay for my MBA with the contingency that I return for 2 years post graduation. What would you say in that case?
In a small liberal arts college now at 16, focusing on STEM. Hoping to transfer to a more prestigious school with a good business program, and then hopefully to a top MBA program. Basically the only reason I considered any of this was the fact I’ll leave all of these schools debt free, which I am insanely grateful for. Hope to have a career in the Finance / Entrepreneurship world… luckily have some family connections (COO @ DE Shaw and MD @ Goldman, both educated @ HBS), but I honestly don’t know if those are worth anything when it comes to future recruiting and opportunities. I’m very close to the person working at Shaw, so I kind of feel like that could maybe help? Any ideas? Thoughts?
would leave the MBA program at ~22
Get real world experience before MBA. If you want to do finance then you should just transfer and go for it. If you're at college at 16 though then maybe you want to do something more ambitious than just investment banking...
It's my second year of working as a management consultant but I want to know if getting a MBA degree will outweigh the opportunity cost of working for those 2 years
Maybe if you do H/S/W or if you want to switch into product or the buyside. But generally I don't think you'll feel like the trade off is worth it until later in your career.
@@PeakFrameworks Great, thanks for the insight!
IM IN A small private college in the Philippines taking accountancy and want to switch in finance , does school matter?
really liked your video, but I had one question. Which school did you go to before getting into investment banking?
I went to Ivey in Canada. My co-founders went to NYU.
Thoughts on Wharton (at full price) vs an M7 (full tuition scholarship)? Currently making 170 at a no name company in an offbeat industry (like construction) and hoping to get into big tech. Is it worth even going? Didn't get into H/S
I think it really depends on the M7 if the goal is big tech. I'd probably just go to the M7 because I don't think Wharton's placement is going to be that much better for tech?
what is you start college late, at 25?
Yes, that sounds late to me
You mention that getting an MBA doesn't help you get into PE but what if I didn't start in Finance to begin with? I haven't worked for any large companies and my background is in accounting. I want to switch. Should I get an MBA?
Yeah if you didn't do finance, you need to get an MBA or do masters. If you're vaguely in business I would still try lateraling first a few times to break into finance though.
I noticed you only have HSW in your circle - would you not even consider the rest of the M7/Haas/Tuck?
I personally wouldn't. I honestly probably wouldn't go to Wharton either even personally. It seems like there's a big quality cutoff between HS and W from my view.
@@PeakFrameworks Damn. Okay. I guess the difference is you have pedigree having done a commerce degree and IB experience and I don’t. I need anything I can to pivot. I got an interview to Haas and am waiting to hear back from other schools. One can dream.
Is it worth getting an MBA later in life? Im 27 now and thinking about it. Now I dont know if I will move to America ever but the only way in so far is thru studying at some University there. And that would be an MBA program. I am mainly focusing on accounting or management. Im not the best at math so
27 is fine, that's the average age for MBA.
@@PeakFrameworks nice!
With a Masters in Financial Economics from Erasmus Rotterdam, do you think an MBA would make sense? I have some experience at a boutique tech investment bank in a DACH country, but I would like to pivot to consulting at MBB.
I think IB to consulting is fine, wouldn't get an MBA.
Is Columbia a good university for Investment banking? And are there any in the Uk ?
Yeah Columbia is nice. Not sure about UK, probably LSE and Cambridge from what I've seen.
@@PeakFrameworks what about LBS - London business school (and I study international business management)
@@dancooper4742 good masters from any top Russell group university like Oxbridge, LSE, Imperial, York, Warwick
I love your videos man but why keep our voice so deep...
Hi I'm from Southeast asia
Just wanna to ask.
Do you think someone who came from IB background,top IB in Southeast asia (not wall street bank) + top regional PE firm +strong leadership n extracurricular will have a good shot at M7 schools..or there's clear disadvantage compare to someone who works in top BB/EB bank in USA?
There is a clear disadvantage to someone who works in top BB/EB but you can probably still get M7.
Hello, I just recently graduated with a B.S. in Hospitality/Tourism Mgmt but I plan on making a career switch towards Finance due to Covid-19/other reasons. I plan on starting an MBA program with a concentration in Finance. Could you offer me some other brief advice/suggestions if possible?
@ADommM Laughing at Boomers Thank you for the advice!
@ADommM Laughing at Boomers so basically if it isn’t a target school I shouldn’t even start an MBA Finance program? I was going to try and volunteer at smaller firms to network and get the hang of things
@ADommM Laughing at Boomers Thank you! I definitely needed this advice
What about distance mba?
I would avoid, I can't think of a good one.
Do you think someone with a healthcare degree backround would do well with a MBA in Finance. I'm in an online program and I need to pick a specialization. I'm in between healthcare management and Finance. I like the more opportunities with finance for international jobs and also the content is very useful for opening my own business in the future. Healthcare management would fit well with my degree but l dont want to settle.
It's kind of hard to answer without more information about yourself. I don't think finance is a good career path to sort of "stumble into" to be honest. It's a big time commitment and the roles are very intense. I think healthcare and finance are sufficiently different that you should try talking to specific people in those fields. I'm not really sure what healthcare management is to be honest.
Great videos
im currently an oncoming senior in highschool aiming to get into Wharton or Harvard Business. Do you recommend any advice on how to gain experience and how to start networking early so I can be ahead of the game. My goal is to one day own a hedgefund.
Honestly, just focus on getting into a good school for now. If you get into either Wharton or Harvard, the amount of networking you have to do is so much lower. You should reach out to people with similar backgrounds as you to see if they'll mentor you (same high school, clubs, community, etc.). Most people don't open their own hedge fund until they're 40+, so you have many years of hard work until that will be viable!
Peak Frameworks do you suggest options trading, swing trading or day trading. And what do I do if my community does not have the proper resources ?
@@shayanshivji swing trading, 99% of day traders don't make money
@@shayanshivji What the hell are you talking about.
So what if you're an ib associate, not able to move to a corporate you'd like, nor PE/VC - what would you do?
Could try pension, investor relations, tech. I would say corporate development is the most common though.
MBA meme is hot garbage, don't fall for it unless you are going to a global top tier school (Oxford, Cambridge, Harvard, Stanford, Wharton etc...)
I'm a business undergrad but will be moving to Masters of Data Science if ever go back to school.
No offense but Ox and Cam are nowhere near Harvard, Stanford and Wharton on the MBA scene
@@sli958 Cool but in the EU, you will still get into private equity/IBs/Buy side with an Ox, Cam MBA.
you gotta blow up asap
Do you think it’s worth it to get an MBA to go from Big4 Audit to break into a BB IB?
Try Big 4 Audit --> Big 4 financial advisory services --> BB IB first. Only consider MBA if you can't make that first jump after a year or so.
@@PeakFrameworks Thanks for the reply! I'm already currently in my 2nd year at Big 4 audit and brought up to my director that I was interested in switching over to our valuations group. She told me that internal transfers to the valuations group isn't available until the end of my 3rd year. Do you think I would be better off doing
Big 4 audit 3 yrs --> valuations 1-2 yrs --> IB analyst, or
Big 4 audit 3 yrs --> MBA (start fall 2022) --> IB Associate ?
I want to stick around another year before doing my MBA because I've already missed round 1 for MBA apps for 2021, and due to the rona job market, there are more MBA students for 2020 and 2021 compared to "normal" years which would increase the competition for the available IB associate spots. Thanks for your thoughts.
imagine saying net net unironically
Hey I’m an Indian Teenager, 17, im about to finish how school here in India and am not able to decide whether to do my undergrad in the US at a decent school or do undergrad here in India and go to USA for MBA. I’m looking to get into IB btw
If you can afford it and you get a decent US school, that's probably a better bet to IB.
Join the Army, and get paid to go, then it’s worth it :).
How hard is it to get accepted at a top MBA School?
Very hard. You need to have a spotless resume / compelling story / 730+ GMAT. Even people coming from the buyside aren't guarantees.
@@PeakFrameworks It is really not that hard. Not compared to some medical schools or getting into some top tier PE firms etc. I know many very average candidates at Harvard MBA. Good but nothing special.