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Not sure where to apply!

by preetsingh26 » Tue Jul 09, 2013 3:16 pm
Hello All,

So I am very confused on where I should apply and where my application stands vs. other folks. Let me give you the quick gist of it:

School: California State University Sacramento

GPA: 3.6 Cum Laude Honors

Degree: Business Admin with Accountancy Concentration

GMAT: Currently studying for it via Manhattan, OG 13, and the 60 day guide. So far it has been easy and everything from my earlier math classes is coming back to me. I am thinking my score will be 600+ (fingers crossed).

Work Experience: Working at one of the Big 4 accounting firms. I interned my junior year in college for 2 months at the same Big 4 and was offered a full time position for after graduation. Thus, I have been working since graduation. Since I hope to apply this December, 2013, I will have 18 months of experience at a Big 4 by then and 22-24 months by the time I hope to start school. Also, before joining the Big 4, I ran one of the family restaurants and have been helping my dad while the Company grows. We have expanded from 1 restaurant to 16 and I have been helping in one way or another during this expansion. Lastly, during my senior year in college, the family business ventured into real estate and again I played a role in this company.

So where do you guys think I have a chance of getting into??

Thank you in advance! �
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by CriticalSquareMBA » Tue Jul 09, 2013 6:25 pm
Hey there,

I would love to help but before I can, I have one very important question for you.

Why do you want an MBA? What are you looking to do?

Remember - an MBA is one of the biggest and most important stepping stones in your life so having an answer to that would definitely be useful before I listed any programs.

I look forward to hearing from you!

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by Jon@Admissionado » Tue Jul 09, 2013 11:06 pm
With 18-22 months by matriculation, you won't have enough work experience to get into a good program, and I suggest you wait another year at least, if not two. It's pretty rare for candidates to get into good schools with so little work experience, and when they do, it's at less good schools then they could normally have gotten into...

Soooo my advice: hold your horses my friend!

Work another year, get your experience, meet people, research those MBA programs, take the GMAT and see how you do, take it again if you need, and so on...

Don't rush things! You will get soo much more out of the process if you take your time.
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by preetsingh26 » Wed Jul 10, 2013 8:38 am
With my MBA I would like to get a position in a management role within the Real Estate industry. The end goal is to go back to the family business and expand it further. But with the MBA, I would like to open doors for myself to work in mamagement and after gaining 2-3 years of experience in management, I will go back to the family business.

And Jon, some people say I have plenty of experience. Running a restaurant since my senior year of high school may not be the same at working at some investment bank, however, the principals of leading a team are still the same. Further, my experience helping with growing the family business by helping my dad with strategy such as which market to expand into next are in my book great learning experiences. Lastly, working in the start up real estate business for 6 months was a great experience, from creating new contacts in the industry to actually flipping homes was a great experience. Sure I may only have 18 months of experience in a professional services job but I have worked in the family business for another 4+ years.
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by CriticalSquareMBA » Wed Jul 10, 2013 8:53 am
Hey there,

Let me expand upon what Jon's point was. Yes, you definitely have a lot of experience from the restaurant component - not questioning that. However, your progression as you go through life isn't linear. What I mean by that is another year won't mean you get incrementally better. If you're working with a Big 4 firm, another year or two will have exponential impacts on your profile in regards to both experience and impact. So yes, you have more experience than 18 months post graduation would suggest and it is interesting and you've clearly done well helping your father grow it to 16 restaurants. However, our caution here is to not overestimate its weight.

That said, you could get into an MBA program this year if you wanted to apply. But...why go to #17 this year if you can go to #10 next year?

An MBA is a huge investment. It's an important step in your career. Exponential improvement in your profile will mean you can target higher ranked programs and brand is extremely important. Get the best brand you possibly can (at a program that you're a good fit with, of course!).

If you wanted to apply this year, there are schools you could target that have good real estate programs (e.g. Emory) but you'll still need a good GMAT. Sure, you wouldn't need a 730 but you would want at least a 650/660 to not raise any red flags.

Honestly - I'm with Jon on this one. Wait a year or two. There really isn't a rush here and if you can get into a better program by waiting, the logical choice would be to do so. And focus on your GMATs - if you need to take it a second or third time, do so! You have the option so get the best possible score you can.

Bhavik
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by preetsingh26 » Wed Jul 10, 2013 9:16 am
Thank you for your response. One thing that I should note is, I do not like my job at the Big 4. It is not something I would like to do in the future but I am staying for the brand and to build my resume. I honestly am not sure if I can stay another 2 years. Do you guys think it would be a mistake to quit and find a real estate job? I would quit after applying to schools and hearing back to ensure it does not hurt me this year when I apply. In terms of waiting another year, sure I can do that, but I would have to switch jobs as I can not work another year in accounting.
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by CriticalSquareMBA » Wed Jul 10, 2013 9:22 am
Hey there,

My father was an accountant - I couldn't do what he did so I can sympathize with where you are. The short answer to your question is yes! If you can find a real estate job, go for it! It will show you're really committed to your story and hopefully you can use that career change as an opportunity to expand on some key skills while focusing in on your industry.

If you find the job switch would be a step down, however, then no, stay with the Big 4 for another year.

The way I view this opportunity is different than the way you've positioned using it. I wouldn't say quit AFTER you apply. I would say find a new job now, spend a year or two in it, and THEN apply. If you apply now, then everything Jon and I said before still applies and your job at a real estate firm doesn't factor into your applications at all.

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