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MBA Candidate Applying for MBB Firms

MBA
Anonymous A asked on Jan 28, 2019 - 2 answers

Hello prep lounge community,

In regards with those of you who have MBA and is applying/working for MBB firms, i'm just curioys on how did you guy financed your MBA? Was it sponsored by one of the firms? Or did you dig from your own pocket?

Essentially i'm considering MBA, but it is very expensive and i am not sure is it worth doing, if it only helps you getting through the door. I'm sure you get to build good network and learn a lots of stuff through an MBA, but those can also be achieved through a good and suitable job/role?

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Guennael
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replied on Jan 28, 2019
Ex-MBB, Experienced Hire; I will teach you not only the how, but also the why of case interviews
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Do not apply for an MBA only because you want to join MBB => in the best of case, your odds are still pretty bad.

An MBA is an investment in time and especially money. At least in the business world, it will often open doors ("job opening or promotions basically requiring an MBA), and your comp will usually be much greater after the degree than before. It is not a guarantee however, and depending on what you do before and where you want to go, it may not be what you should do.

Can you give us more details on your background, what you do today and what your objective is? Is it strictly to join MBB?

PS: Honestly, if you get in MBB, paying for your MBA won't be an issue - regardless of how you financed it

Vlad
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replied on Jan 28, 2019
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Hi,

It really depends on your background, country economy and the school.

Top3 schools give generous scholarships if:

  • Your average salary was below a certain level (easy for a country with huge currency fluctuations)
  • The company is not sponsoring you (you don't take the sponsorship)

To give you some sense - my scholarship at HBS was 70% of the tuition. + I got an extra 20% scholarship while studying (90% of the tuition in total). If I had my MBA sponsored by McKinsey I would never get any scholarship.

On the contrary - if it is not a TOP Tier school / you are sure you want to go back to consulting - sponsorship is a good way to go.

Best