Getting MBA worth?

Originally Posted by Unregistered

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.

I agree that mba is not needed from a knowledge perspective, and what u said makes sense for undergrad engineering students. But if u r already working as an engineer for a few yr, hard to see how u can navigate a mid career shift into one of the roles u mentioned above w/o a mba.

I can't resist but to say my 2 cents.

I'm an engineer who also got my MBA last year. Intially, I also have the aspiration to join IB etc for the $. But then I realize, it's an uphill battle. I decided to pursue doing what I am doing (procurement) and move into a banking institution. Pay is good. Better than outside. A D in IB can earn high 6 digits. The D in my department i guess earn half of that but still, a pay check of that amount still makes life comfortable. You may not drive a Bently but I'll still settle for a BMW or Jag. Plus you have less stress and you get to spend more time with your kids. If any retrenchment going on, IB goes first as we are the ones that save money and makes the whole system ticks. Moreover, the interview is less rigourous. You don't have to sit for test. Just need to know your stuff well and how to relate

Originally Posted by Unregistered

I can't resist but to say my 2 cents.

I'm an engineer who also got my MBA last year. Intially, I also have the aspiration to join IB etc for the $. But then I realize, it's an uphill battle. I decided to pursue doing what I am doing (procurement) and move into a banking institution. Pay is good. Better than outside. A D in IB can earn high 6 digits. The D in my department i guess earn half of that but still, a pay check of that amount still makes life comfortable. You may not drive a Bently but I'll still settle for a BMW or Jag. Plus you have less stress and you get to spend more time with your kids. If any retrenchment going on, IB goes first as we are the ones that save money and makes the whole system ticks. Moreover, the interview is less rigourous. You don't have to sit for test. Just need to know your stuff well and how to relate

Man. I got side tracked. And yes, MBA helps in securign the post. Else, they won't even want me as I have no industry experience. With everyone nowadays studying masters, degree value is diluted. Do the maths

Originally Posted by Unregistered

I can't resist but to say my 2 cents.

I'm an engineer who also got my MBA last year. Intially, I also have the aspiration to join IB etc for the $. But then I realize, it's an uphill battle. I decided to pursue doing what I am doing (procurement) and move into a banking institution. Pay is good. Better than outside. A D in IB can earn high 6 digits. The D in my department i guess earn half of that but still, a pay check of that amount still makes life comfortable. You may not drive a Bently but I'll still settle for a BMW or Jag. Plus you have less stress and you get to spend more time with your kids. If any retrenchment going on, IB goes first as we are the ones that save money and makes the whole system ticks. Moreover, the interview is less rigourous. You don't have to sit for test. Just need to know your stuff well and how to relate

Cool story . How did u manage to land interviews, internship and eventually your job. I hv a few engr friends who are struggling just to get an interview for an internship .

Originally Posted by Unregistered

I can't resist but to say my 2 cents.

I'm an engineer who also got my MBA last year. Intially, I also have the aspiration to join IB etc for the $. But then I realize, it's an uphill battle. I decided to pursue doing what I am doing (procurement) and move into a banking institution. Pay is good. Better than outside. A D in IB can earn high 6 digits. The D in my department i guess earn half of that but still, a pay check of that amount still makes life comfortable. You may not drive a Bently but I'll still settle for a BMW or Jag. Plus you have less stress and you get to spend more time with your kids. If any retrenchment going on, IB goes first as we are the ones that save money and makes the whole system ticks. Moreover, the interview is less rigourous. You don't have to sit for test. Just need to know your stuff well and how to relate

High 6 digits is 999,999. Or do you mean high 5 digits?

Originally Posted by Unregistered

Cool story . How did u manage to land interviews, internship and eventually your job. I hv a few engr friends who are struggling just to get an interview for an internship .

I joined as experience hire. Less than 8 years exp in my field.

1. Never give up. Keep trying. Your chances to be noticed is 1/20. Not that bad as long as you have experience. Will be good to have referral, that's when MBA course helps as MBA tends to have quite a number of finance people.

2. I had the fortune to be in 2~3 industries doing the same function. So I shot down immediately any excuse relating to 'no background experience in finance' as I have proven my adaptability.

3. Be passionate about your work.

Originally Posted by Unregistered

High 6 digits is 999,999. Or do you mean high 5 digits?

It's annual package and not monthly salary.

Any idea whether MBA in NUS/NTU/SMU/INSEAD accepts Degree with only a 2nd lower/3rd class hons?

Originally Posted by Unregistered

Any idea whether MBA in NUS/NTU/SMU/INSEAD accepts Degree with only a 2nd lower/3rd class hons?

Your bachelor degree matters for little unless 1)you have no working experience, 2)little selling point, 3)degree obtained from correspondence studies.

2nd lower/3rd class/no honours doesn't matter when it comes to entry to B-school.

Originally Posted by Unregistered

Your bachelor degree matters for little unless 1)you have no working experience, 2)little selling point, 3)degree obtained from correspondence studies.

2nd lower/3rd class/no honours doesn't matter when it comes to entry to B-school.

Im studying Materials Engineering in a local U and completing it next year. Intending to take an MBA maybe 3 years after work to get out of engineering badly because i have no interests in engineering stuff

Originally Posted by Unregistered

Im studying Materials Engineering in a local U and completing it next year. Intending to take an MBA maybe 3 years after work to get out of engineering badly because i have no interests in engineering stuff

Why not you do non engineering base job when you grad from your degree? Fresh grad can go anywhere quite easily due to zero experience and typically 'cheap' labour. That way you can add value to yourself when you do your MBA.