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Getting MBA worth?

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  #61 (permalink)  
Old 06-03-2012, 09:24 AM
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Am in front office in a bb. But believe me, it was an incredibly difficult and frustrating process to get here since i was a career switcher .
It sounds impressive. Mind sharing where were you previously from, what have you done (aside from MBA) and finally landed at FO in a bb?

Thanks.

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  #62 (permalink)  
Old 06-03-2012, 09:31 AM
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Not directly after MBA and it also depends on which FO role you are in. Portfolio, job performance and economic cycle.

Assume an associate role (straight after MBA) in a bulge bracket investment bank. M&A, ECM/ DCM. Your base salary would be around $140-150k per year. Assume a normal year bonus, total compensation is only about about $300k+

Above 500k total compensation is more like SVP, D, MD level. And again largely dependant on deal flow.


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Possible but Heavily dependent on bonus.


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  #63 (permalink)  
Old 06-03-2012, 07:46 PM
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Not directly after MBA and it also depends on which FO role you are in. Portfolio, job performance and economic cycle.

Assume an associate role (straight after MBA) in a bulge bracket investment bank. M&A, ECM/ DCM. Your base salary would be around $140-150k per year. Assume a normal year bonus, total compensation is only about about $300k+

Above 500k total compensation is more like SVP, D, MD level. And again largely dependant on deal flow.
Yes that's exactly right . Am referring to vp payscale. At D, possible to hit high 6 digits, and MD can hit 7 digits.

Then again bonus these days are more skimpy ...

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  #64 (permalink)  
Old 06-03-2012, 07:50 PM
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Yes that's exactly right . Am referring to vp payscale. At D, possible to hit high 6 digits, and MD can hit 7 digits.

Then again bonus these days are more skimpy ...
Whoa high 7 digits? Do you know what you're talking about?
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  #65 (permalink)  
Old 06-03-2012, 08:21 PM
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Not directly after MBA and it also depends on which FO role you are in. Portfolio, job performance and economic cycle.

Assume an associate role (straight after MBA) in a bulge bracket investment bank. M&A, ECM/ DCM. Your base salary would be around $140-150k per year. Assume a normal year bonus, total compensation is only about about $300k+

Above 500k total compensation is more like SVP, D, MD level. And again largely dependant on deal flow.
How do you get in? I am an engineer who just completed my MBA. I am thinking of switching to IB.
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  #66 (permalink)  
Old 06-03-2012, 10:15 PM
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Whoa high 7 digits? Do you know what you're talking about?
Read again, I said "At D, possible to hit high 6 digits, and MD can hit 7 digits."

No one mentioned anything about high 7 digits.

And all figures cited are total comp numbers including bonuses.
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  #67 (permalink)  
Old 06-03-2012, 11:15 PM
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How do you get in? I am an engineer who just completed my MBA. I am thinking of switching to IB.
Frankly, that's not the easiest switch cos there are so many engineers wanting to do the same.

Its possible - I did that. But the internship is absolutely key, and you need to hunt it down by whatever means possible. Cold calling, family and friends, alumni etc etc etc. For me, I heard about an opening at an IB thru a friend, and I absolutely hounded the hiring manager shamelessly for weeks on end until they offered me the internship.

Reality is, there's got to be a degree of shamelessness in chasing these roles, because of the number of people applying for these jobs. If you can't beat them in credentials, just have to beat them in persistence.

And luck plays a big part as well. A lot of times, you hear of these roles thru the grapevine. Cos just relying on your career office is not sufficient for non-conventional CVs. But by being persistent, sometimes you create your own luck.

Remember, as an engineer, you are at a severe disadvantage compared to those who went into the MBA from banking RM jobs, or banking mid or back office roles , who are looking to get into the meatier front office roles via the MBA route. So you have to put in an extraordinarily greater effort in order to even stand a chance.

So pound away and good luck.
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Old 07-03-2012, 12:08 AM
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Frankly, that's not the easiest switch cos there are so many engineers wanting to do the same.

Its possible - I did that. But the internship is absolutely key, and you need to hunt it down by whatever means possible. Cold calling, family and friends, alumni etc etc etc. For me, I heard about an opening at an IB thru a friend, and I absolutely hounded the hiring manager shamelessly for weeks on end until they offered me the internship.

Reality is, there's got to be a degree of shamelessness in chasing these roles, because of the number of people applying for these jobs. If you can't beat them in credentials, just have to beat them in persistence.

And luck plays a big part as well. A lot of times, you hear of these roles thru the grapevine. Cos just relying on your career office is not sufficient for non-conventional CVs. But by being persistent, sometimes you create your own luck.

Remember, as an engineer, you are at a severe disadvantage compared to those who went into the MBA from banking RM jobs, or banking mid or back office roles , who are looking to get into the meatier front office roles via the MBA route. So you have to put in an extraordinarily greater effort in order to even stand a chance.

So pound away and good luck.

Thanks for the great advice. I'm another wannabe who wants to do the same. Could you kindly advise: if you were to do the same thing again, all things equal, what do you think is the theoretical chance of succeeding?

I would just want to hear your estimation of how much luck is needed. Thanks for all the great advice!
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Old 07-03-2012, 07:32 AM
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Thanks for the great advice. I'm another wannabe who wants to do the same. Could you kindly advise: if you were to do the same thing again, all things equal, what do you think is the theoretical chance of succeeding?

I would just want to hear your estimation of how much luck is needed. Thanks for all the great advice!
Very hard to say. If you know someone who can promise you an internship (even unpaid) in the area you want (even in a non-BB bank), that will help your chances greatly.

Depends on timing of your internship / graduation as well - if u graduate in 2006 or 2007, you'd have a fair chance as the average MBA grad from a top school received multiple offers upon graduation. If you graduate in 2008 or 2009, it would have been almost impossible.

Sorry I cannot be more exact - really is a crapshoot. Wasn't like I had a hundred options in my time. Was just going after hundred different leads and only had one offer, and that worked out.
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Old 07-03-2012, 08:08 AM
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To clarify, there are more roles in an IB than the typical corporate finance role.

As an engineer, you may have an advantage if you apply for more quant roles (e.g structurer, trader) Or, apply for an investment research role covering tech sector. In my team, half of them are engineers. Other half are grads with finance discipline. No one has a MBA. As the MD puts it, he doesnt have one and doesnt think it necessary to have one in our role.
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