B-School or no? Looking for some advice... | TigerDroppings.com

Posted byMessage
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

B-School or no? Looking for some advice...


I am currently a financial advisor employed by a regional bank. I started working here immediately out of college and I've been here for almost 3 years. I enjoy my job and the money is great (about $85k/year). I am 24 and it is likely that I will be a "senior" advisor in the next 2-3 years ($150k-$250k+). I've got my life & health, Series 6, Series 7, and Series 66 licenses.

On the B-school front, I graduated from a directional school with a 3.4 GPA and a major in Business Administration with a concentration in finance. I took the GMAT in the summer of 2009 and scored a 740 (50/40 quant/verbal). The only school I applied to out of college was Harvard, but I was not accepted.

So, here is my predicament. I want to have a job I enjoy (check) where I have significant upward mobility (semi-check). I also want to make as much money as possible (surprise). If I go the MBA route, I'd like to do it full-time. I've spoken to my employer and it is unlikely they would pay for the MBA as it is relatively useless in my current career. However, they are confident I would be welcomed back to my current position if I chose to do so, albeit I would have wasted some money and a few years in the process.

In your opinion, should I leverage more out of my current career or should I pack up and go get my MBA? Gather ye rosebuds while ye may? If so, any advice on where I should look to apply? I think I would enjoy being an analyst, but that opportunity is not present with my current employer.

Let me know if I'm leaving out any relevant information. I'm single with no children and relocation is not an issue. Any advice would be greatly appreciated. Thanks!







Back to top
Share:
jso0003
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
4795 posts

re: B-School or no? Looking for some advice...


If you're going to be making 150-250k before age 30 why in the frick would you even consider going to b school unless you hate your job?

Considering you're making good money now and are setup well to continue the only way I would go to b school is if you can go to a top 5 school. You're simply not going to get a great return compared to your current outlook from a top 25 b school.






Back to top
LSUTigers00884
LA-Lafayette Fan
Lafayette
Member since Oct 2011
753 posts

re: B-School or no? Looking for some advice...


Hey look at me!





Back to top
Teddy Ruxpin
LSU Fan
New Orleans, LA
Member since Oct 2006
18534 posts

re: B-School or no? Looking for some advice...


quote:

If you're going to be making 150-250k before age 30 why in the frick would you even consider going to b school unless you hate your job?


This is what I was thinking.






Back to top
11thACR
Appalachian St. Fan
Georgia
Member since Mar 2012
509 posts

re: B-School or no? Looking for some advice...


At 24 you are in a great place from a financial sense. If you like and want more formal education,
I would suggest part time and keep your job and cash flow. The double up trial will expand you and
perhaps lead to better decision in a few years. No need to rush into dropping everything and being a student again, unless you miss the old gig.






Back to top
ForeLSU
LSU Fan
The Corner of Sanity and Madness
Member since Sep 2003
33981 posts

re: B-School or no? Looking for some advice...


quote:

I am 24 and it is likely that I will be a "senior" advisor in the next 2-3 years ($150k-$250k+).


I certainly don't know the answer to this but you should strongly consider how much longer there will be senior financial advisors at regional banks making decent money. With the personal flexibility you have, think about the value of a few years at a regional bank vs. a top 20 mba. UT is still a top 20 program if you can get into it.






Back to top
  Replies (0)
foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29858 posts

re: B-School or no? Looking for some advice...


quote:

If you're going to be making 150-250k before age 30 why in the frick would you even consider going to b school unless you hate your job?



This, unless you are on track to make upper management at your firm. If so, you can probably get them to pay for it. And yes, at a top school. Given that you're in Houston, UT would probably work out. Otherwise go to NYC.

That is very much a career change though. You won't be an FA anymore, you'd be aiming for running a part of the business. Rigging LIBOR and explaining to Congress in such a way that you get away with it, that sort of thing.






Back to top
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

re: B-School or no? Looking for some advice...


quote:

If you're going to be making 150-250k before age 30 why in the frick would you even consider going to b school unless you hate your job?


Greed?

I'm in a good situation, I understand that, but there is a sense of finality in the possible promotion. It is great money, but there is no where else to go and my job is not very mentally stimulating. As much as I'd love to be actively managing money, my clients are not remotely interested in things of that nature. I don't know how long I can sell fixed annuities and still enjoy myself, but the money helps for sure.






Back to top
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

re: B-School or no? Looking for some advice...


quote:

Hey look at me!




Thank you for your contribution!






Back to top
  Replies (0)
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

re: B-School or no? Looking for some advice...


quote:

You're simply not going to get a great return compared to your current outlook from a top 25 b school.



That's my worry.

quote:

the only way I would go to b school is if you can go to a top 5


How well does my profile set up for a top school?






Back to top
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

re: B-School or no? Looking for some advice...


quote:

I would suggest part time and keep your job and cash flow. The double up trial will expand you and perhaps lead to better decision in a few years. No need to rush into dropping everything and being a student again, unless you miss the old gig.



Thanks for the advice. I'm not sure if I want to try both at once, but it makes sense strategically.






Back to top
  Replies (0)
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

re: B-School or no? Looking for some advice...


quote:

That is very much a career change though. You won't be an FA anymore, you'd be aiming for running a part of the business. Rigging LIBOR and explaining to Congress in such a way that you get away with it, that sort of thing.









Back to top
saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
21052 posts

re: B-School or no? Looking for some advice...


I would stay on the same track you are one. You are way ahead of the game if you are making 150-200k by your 30th birthday. Get your MBA on nights/weekends if you want to add something to your resume to increase the number of places you can work.





Back to top
GaryMyMan
USA Fan
Lower Garden District
Member since May 2007
10640 posts

re: B-School or no? Looking for some advice...


quote:

Get your MBA on nights/weekends
Yeah I don't know why he would choose to be a full time student when he can have his cake and eat it too. There are plenty of decent programs that have this option. Unless he can get into a top 5...



This post was edited on 3/4 at 8:24 pm


Back to top
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

re: B-School or no? Looking for some advice...


quote:

Get your MBA on nights/weekends


Seems to be the consensus around here...

I guess I should look into that route a little more.






Back to top
GaryMyMan
USA Fan
Lower Garden District
Member since May 2007
10640 posts

re: B-School or no? Looking for some advice...


You're in Houston? Rice has a night/weekend program. I'm not sure how their business school is but it sounds good. UT's is very good and they have a bunch of options, including a Houston based program. LINK





Back to top
  Replies (0)
Chris Farley
Maryland Fan
Regulating
Member since Sep 2009
3662 posts

re: B-School or no? Looking for some advice...


Look into taking the CFA(if you want to be an analyst) or CFP(if you want to stay in your current profession). You could do either of those while working and not have to sacrifice a ton of income over it.





Back to top
  Replies (0)
jso0003
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
4795 posts

re: B-School or no? Looking for some advice...


quote:

How well does my profile set up for a top school?


Gpa is meh, but your GMAT is elite.

You would need to have killer extracurriculars, civic involvement, something that really makes you stand out. Honestly if you're something other than a white male that would REALLY help

Your job while very well paying isn't exactly going to do you any favors. Especially considering the bankers that are going to top 5 b schools are mostly coming off Wall Street firms like Goldman, etc






Back to top
slackster
LSU Fan
Houston
Member since Mar 2009
6122 posts

re: B-School or no? Looking for some advice...


quote:

Honestly if you're something other than a white male that would REALLY help


Damn.

quote:

Your job while very well paying isn't exactly going to do you any favors.


I figured the same.

quote:

you would need to have killer extracurriculars, civic involvement, something that really makes you stand out.


I'm proud of my other activities, but I don't think they stand out in regards to a top school.

quote:

your GMAT is elite


Wish it was more important...






Back to top
  Replies (0)
MSU4ever
Mississippi St. Fan
Member since Aug 2011
1683 posts

re: B-School or no? Looking for some advice...


Hey man I don't have any advice for you (because I'm younger) but I'm on the same track you are and want to do exactly what you do so seeing this helped me out a lot. Best of luck in whatever you decide





Back to top
  Replies (0)


Back to top