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

Figure out where you wish to apply
This topic has expert replies
Junior | Next Rank: 30 Posts
Posts: 13
Joined: Mon Mar 26, 2012 4:47 pm
Followed by:1 members
GMAT Score:610
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??

GMAT/MBA Expert

User avatar
Elite Legendary Member
Posts: 3135
Joined: Fri Apr 01, 2011 8:55 am
Location: Everywhere
Thanked: 589 times
Followed by:332 members

by Jon@Admissionado » Mon Mar 26, 2012 10:41 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! :) 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!
"Hands down the best MBA admissions consulting firm of all-time, and boy, what an incredible founder!" -- Raj Patil, Founder of Admissionado

Something for everyone:
https://admissionado.lpages.co/admissio ... nter-2018/
https://admissionado.lpages.co/50-essay ... ked-vol-4/
https://admissionado.lpages.co/case-studies-lp/
https://admissionado.com/mba/reviews/
https://www.glassdoor.com/Reviews/Admis ... 700945.htm

Reach out, and let's gab. Our only requirement is that you don't prefer warm milk over cold milk. Everyone else, 100% welcome.
Email: [email protected]
Phone: 866-409-4753
Hit us up on WhatsApp.
Ping our satellite: 0884#&@-2#101101
Contact us via web form you lazy git: https://admissionado.com/contact/
Mostly, email Claudia.

Newbie | Next Rank: 10 Posts
Posts: 2
Joined: Fri Mar 30, 2012 7:32 am

by Amanda Owens » Thu Apr 05, 2012 3:11 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.
Wouldn't it be great to gain admission for the MBA without GMAT? Well a girl can dream...

Senior | Next Rank: 100 Posts
Posts: 80
Joined: Wed Apr 18, 2012 11:14 pm
Thanked: 3 times

by campbellronald7 » Mon Apr 30, 2012 1:35 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]

Junior | Next Rank: 30 Posts
Posts: 17
Joined: Fri Dec 09, 2011 4:22 am

by appking » Tue May 01, 2012 2:30 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! :) 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

GMAT/MBA Expert

User avatar
Elite Legendary Member
Posts: 3135
Joined: Fri Apr 01, 2011 8:55 am
Location: Everywhere
Thanked: 589 times
Followed by:332 members

by Jon@Admissionado » Tue May 01, 2012 10:56 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! :) Crack a 700 and you are in very good shape, a 730, excellent.
"Hands down the best MBA admissions consulting firm of all-time, and boy, what an incredible founder!" -- Raj Patil, Founder of Admissionado

Something for everyone:
https://admissionado.lpages.co/admissio ... nter-2018/
https://admissionado.lpages.co/50-essay ... ked-vol-4/
https://admissionado.lpages.co/case-studies-lp/
https://admissionado.com/mba/reviews/
https://www.glassdoor.com/Reviews/Admis ... 700945.htm

Reach out, and let's gab. Our only requirement is that you don't prefer warm milk over cold milk. Everyone else, 100% welcome.
Email: [email protected]
Phone: 866-409-4753
Hit us up on WhatsApp.
Ping our satellite: 0884#&@-2#101101
Contact us via web form you lazy git: https://admissionado.com/contact/
Mostly, email Claudia.

Junior | Next Rank: 30 Posts
Posts: 13
Joined: Mon Mar 26, 2012 4:47 pm
Followed by:1 members
GMAT Score:610

by ems215 » Fri May 11, 2012 3:46 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.

User avatar
Junior | Next Rank: 30 Posts
Posts: 13
Joined: Sun Apr 22, 2012 8:10 am
Location: Los Angeles, CA
Thanked: 1 times
Followed by:18 members
GMAT Score:700

by mbaover30 » Fri Oct 26, 2012 10:23 am
My blog is focused largely on people who are 30+; however, it is relevant to any MBA applicant. Go to https://www.mbaover30.com.

Best of Luck to you.
https://www.mbaover30.com
Get into a Top B-School after 30 (or at any age)

Junior | Next Rank: 30 Posts
Posts: 13
Joined: Mon Mar 26, 2012 4:47 pm
Followed by:1 members
GMAT Score:610

by ems215 » Sat Aug 15, 2015 10:14 am
Hello, I am back. I decided not to go for an MBA since I went to undergrad business school at Stern and would like to learn something new. MBA has very similar classes. I can always pick up the CFA again if I need to (I passed some of the levels already).

I was accepted to the Macc program at the University of Michigan for the Fall and gave my deposit, but I having reservations. The deposit was only $400.

I am 36 now and Have continued to struggle in the financial industry as I am not good at brown-nosing and sucking up. I guess I have been working for the wrong people as they keep treating me poorly. My boss wouldn't let me transfer internally at my last company and give me arbitrary performance ratings. I am not quite sure what to do with myself now. I think going back for a masters in accounting and getting my CPA might provide me with more opportunities outside of the financial industry.

I am a little worried as most of the students will have just graduated from undergrad and not sure if there all be anyone else my age. Also, the average salary after graduation is below what I am making now but I assume if I have more experience those ranges would not apply to me.

Has anyone else gone back to school later in life? Any experiences that I should be aware of?

Newbie | Next Rank: 10 Posts
Posts: 4
Joined: Thu Jul 30, 2015 6:29 am

by flipit13 » Tue Aug 18, 2015 2:06 pm
EMS,
The University of Michigan has a great startup network and there are a lot of grads making waves in gaming and mobile startups here in CA. Definitely do it on campus though so you can really benefit from all the networking. Join as many groups as you can. Learn to code in your free time.
You should also look at an MBA/MSx program at Stanford or Berkeley if you want to work in finance at a gaming startup. People talk a lot about Silicon Alley but California is where it's at. Too much Wall Street meddling in NYC. Plus, the weather out here ain't bad :-) Also, you may have to start with lower expectations. But, with solid experience and a good degree you will get to where you want to be. It's really an entirely new career.
Final question, what have you done in the past 3 years to further your career in the gaming industry (or another industry)? For example, I know people who want to work for tech startups so they uproot their family and move to Silicon Valley. Creating opportunity leads to better opportunities. Excuses are a dime a dozen but AdComs and employers want to see results. Age is just another excuse. If you aren't happy with how far you've gotten by letting other people make your decisions then break free. Take initiative. Listen to some inspirational Les Miles videos on Youtube and make it happen!
(I am 34 and I've been through some of the same struggles you are going through. I'm doing an MBA as way to create opportunity.)
Best of luck, keep us updated on your progress.

User avatar
Master | Next Rank: 500 Posts
Posts: 381
Joined: Wed Aug 19, 2015 9:49 am
Thanked: 13 times
Followed by:7 members

by Michael@VeritasPrep » Sat Sep 12, 2015 1:22 pm
If you are looking for west coast, you might want to consider USC Marshall. A tad less competitive, but still very strong and a great location for the work you are looking for.