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Looking at MBA, but over 30 and need some advice !!

This topic has 2 expert replies and 5 member replies
ems215 Just gettin' started! Default Avatar
Joined
26 Mar 2012
Posted:
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Test Date:
May 8, 2012
Target GMAT Score:
700
GMAT Score:
610
Looking at MBA, but over 30 and need some advice !! Post Mon Mar 26, 2012 6:39 pm
Hi,

I am 32 right now and I did take the GMAT in March, but I canceled my score as the center was very noisy and I couldn't concentrate. I lost a lot of time re-reading questions.

I took the GMAT previously, but it was more than 5 years ago so that score is not longer valid and I need to retake.

I have worked in the financial industry in NYC for a while and completed my undergrad at NYU Stern with a good GPA.

I was involved with the community as an undergrad and my industry as a professional. I ran a couple of events for NYSSA (New York Socity of Security Analysts).

I have had trouble in the financial industry as I graduated during an incredibly poor time in the market. I had been accepted to Owen at Vanderbilt and a few other schools in 2006, but didn't attend as I was scared of another economic meltdown and slim job opportunities. I saved myself a lot of grief as I would have graduated in 2008 when Bear Stearns and Lehman fell apart.

I am thinking of MBA programs again as the finance industry in NYC is not cooperating. I had an 8 month contract position and now I am unemployed again. I have 7 years of continuous experience after my NYU graduation (in a ad-hoc research and projects group and in market risk control) with only 2 firms, but after 2008 there was lots of volatility. I worked as a commodity broker for a period of time where I convinced people to trade in volatile commodity options (regulated by NFA). I had a great rate of return and enjoyed earning money for people. I would like to continue that, but I don't want to work on a commission as a broker. Therefore, I could see myself as a portfolio manager on a salary. Unfortunately, it is hard to make the transition in this job market as most people are pigeon-holed into their current line of work.

I also have a tremendous interest in the video game industry and could see myself as a finance manager for a gaming/tech company. I think that finance jobs in non-banking firms rely more on accounting knowledge; therefore, I have looked at dual degrees for MBA and Master's of Accounting. Given my interests, I think an MBA program on the West Coast would best suit my interest in the gaming industry.

I have also thought about the online program at UNC as I would get the same degree as those who go to the physical location and the university has a great reputation. My goal is to switch careers, would an online MBA facilitate a switch? I think it is better for people looking for a promotion.

Does anyone have any advice??

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Post Mon Mar 26, 2012 11:41 pm
Given your story, yes an MBA makes a lot of sense. If you get accepted to a good program, it can certainly renew your knowledge and help you make the jump you need. Being thirty two is gonna make things a bit tougher, and being unemployed even more so... but hey, if there weren't obstacles, it wouldn't be fun! Smile So really the important thing is that you build a very good reasoning and story as to why you are applying now. And it needs (for the AdCom) to be more than "I'm pigeonholed and I need a job", so the narrative you will provide them is absolutely key, and the best thing you could do yourself is to a) get the highest GMAT possible b) Find a position and c) take some responsibilities in a volunteer position.

Hope this helps!

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Harvard MBA, 2005
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Amanda Owens Just gettin' started! Default Avatar
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Post Thu Apr 05, 2012 4:11 pm
I'm really glad you posted this, I'm also in my early 30's and feeling a little nervous about this process. Thanks for sharing your story and thank you Precision Essay for your insight.

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campbellronald7 Rising GMAT Star Default Avatar
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Post Mon Apr 30, 2012 2:35 am
If you are looking for a graduate program with a strong reputation, the Business Executive Education at Babson College is great for those looking to further their career![/url]

appking Just gettin' started! Default Avatar
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Post Tue May 01, 2012 3:30 am
Jon@PrecisionEssay wrote:
Given your story, yes an MBA makes a lot of sense. If you get accepted to a good program, it can certainly renew your knowledge and help you make the jump you need. Being thirty two is gonna make things a bit tougher, and being unemployed even more so... but hey, if there weren't obstacles, it wouldn't be fun! Smile So really the important thing is that you build a very good reasoning and story as to why you are applying now. And it needs (for the AdCom) to be more than "I'm pigeonholed and I need a job", so the narrative you will provide them is absolutely key, and the best thing you could do yourself is to a) get the highest GMAT possible b) Find a position and c) take some responsibilities in a volunteer position.

Hope this helps!
Hello,

One more question

1) Do you think students (with 30+) face difficulties in getting placed once they complete their MBA ?

2) What should be an ideal GMAT score (i mean in terms of plus/minus to average, e.g. if the average of a schools is say 700, do you think someone who is 30+ must get 20 to 30 points more than the average )

thanks in advance

Post Tue May 01, 2012 11:56 pm
Honestly it depends on the company and their outlook and what they want etc. If you want to start off at a huge Consulting firm, and they want you to work 15 hour days and fly around the world, but you are the age of family and kids, they will know that it won't work from the start. If you are going for a mid-level management position that is more inline with your age, it probably wouldn't have any affect at all. But 32-25 is not too old to start a new career. Not at all.

Ideal GMAT score is the best score you can get! Smile Crack a 700 and you are in very good shape, a 730, excellent.

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Harvard MBA, 2005
Founder and CEO, Admissionado

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ems215 Just gettin' started! Default Avatar
Joined
26 Mar 2012
Posted:
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Test Date:
May 8, 2012
Target GMAT Score:
700
GMAT Score:
610
Post Fri May 11, 2012 4:46 pm
Hi I am back! I finally took the GMAT before the Integrated Reasoning section went into effect. I was disappointed, but I think the situation is not awful. I got a 610 which is similar to the score when I applied 5 years ago. I can still get into some schools.

I think given my situation and age it would probably be better to do an online program, specifically I was looking at UNC Chapel Hill so I can stay working. I am also close to getting a new position. Does anyone know the GMAT range for UNC's online program?

Also, I think my GMAT score could improve as I was rushing at the end and needed to click a few answers. I never take enough practice tests and I was having an even worse time on those.. I got a 520 on one test as I don't pay enough attention and don't take the practice tests seriously.

For people who tend to have lower test scores, how to you explain that? My SAT scores were not great either. I did my undergrad at NYU Stern (with a good GPA) so I have a BS in Finance and Info Systems.

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mbaover30 Just gettin' started!
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Test Date:
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Post Fri Oct 26, 2012 11:23 am
My blog is focused largely on people who are 30+; however, it is relevant to any MBA applicant. Go to http://www.mbaover30.com.

Best of Luck to you.

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