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If you don’t get into a top 10 then you are wasting your money.
Applying is not that hard, and not that expensive. Just do it and see what happens.
You definitely don’t need a top 10 MBA. They are overrated. I you are foolishly paying 3x more for the same education just so you can have the name on your resume. You’ll learn nothing that you wouldn’t learn at any other good school. The people that say that an MBA from a non top 10 is a waste of money are idiots. I didn’t get mine from top 10 and I know plenty of people that didn’t go to top 10 or even 20 and they are working the same jobs as the elitist ivy MBAs. Go for it if that’s what you want, but don’t be fooled into thinking it’s required.
P1 is generally correct, but I disagree for certain careers. Strategy consulting at MBB or investment management are still very elitist and confined to a few select M7 programs. Others like IBD, tech, or non-MBB consulting on the other hand do not necessarily require Top 10 MBA.
It really all depends on what you plan to do post-MBA.
Senior with 2+ years of audit experience. CPA + CFA.
Independent consultant (unpaid) to my family friend’s tech start up + active member of a NGO (lead media/communication contact)
Weakness: 3.3 GPA from a Top 30 university+ Asian
Look into switching into an accounting advisory role. Our bill rates and comp are much better than MC. Only reason I'd do an MBA is if I want to do strategy consulting with a top firm.
Thanks SA1. Yeah hopefully it is not that scary as people think. If I don’t get into a Top 10, I will switch to finance and give up my MBA dream lol.
Plus 330 GRE, which translates to GMAT is 750 per ETS. (I know GMAT is a better exam but my consultant assures that my GRE is good enough to ignore GMAT)
Hey OP, did you complete all 3 levels of the CFA? Why are you even going for MBA at that point? What type of work do you do? Sorry for all the Questions!
Sorry for the confusion but I am just level 2 CFA.
I need a good MBA because I hate auditing. I want to switch to management consulting.
I am in Assurance with clients from start-ups to big multinational companies.
Agree with TM1. I know the importance of a Top 10 MBA. Just not sure whether I’m wasting time and money applying them if I am not even close to their standards.
With your CFA you can get out of audit and earn more
^ disagree with SA1. I have a friend at EY going through the process now and it’s extremely hard and expensive. You have to put in tons of hours of research, networking, info sessions, and writing essays (which takes several weeks). Plus the time off work and $ to fly to interviews, and each app is like $250.
That said, the time/$ paid off and they were recently accepted to a T15 program. They are in risk assurance (not too different than audit). Your GRE is good, but make sure you have a compelling story. My advice is to get out of audit ASAP if you want to move into MC. Best of luck OP!!
Thanks a lot EY1. Yes, it is very time consuming. I stay till 12:30 every night for my essays and resume. It is a very tough process and I hope every effort will pay off.
I know about the time commitment and cost of applying, but in comparison to the time and cost that will actually go into earning an MBA this is not a lot of time or money