MBA, my chances, possible options? Please advise me.

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Hi

I would appreciate if you can advise me on my best possible course of action.

Background
I am from Singapore. Chinese. 27 years of age. Good command of english. Served mandatory National Service in the Civil Defence Force for 2 years.

Undergrad
Initially, i was enrolled in a Polytechnic as an Engineering student but didnt like it so i dropped out and I did the University of London External Degree in Accoounting and Finance in Singapore but only graduated with a second class lower honours. the reason for my low grade is not because i played too hard but becuase i took my first year part time while i was serving national service and had to work part-time as a waiter to fund my second and final years.

Current situation
I have 2 yrs of work experience. 1 year in the sales team of a mutual fund house. 1 year corporate banking role at an int'l bank. although both roles were in front office teams, i was mainly restricted to a support role.

i have been told by industry insiders that my 2nd lower external degree is the thing that is holding me back from jobs which i would like to pursue such as investment banking or consultancy.

Now, i have saved enough to fund my further education. and i am preparing for my GMAT. Assuming i score 650-7XX, do i have a decent chance in being accepted to the top 15 MBA progs?

If not, realistically, what MBA progs should i consider?
&
Are MBAs not from the tier1 programmes even worth it? i dont want to spend only to find out that it does not add value to my career prospects.

Sorry for the long post. I woudl greatly appreciate your input.
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by Lisa Anderson » Fri Jun 06, 2008 7:45 am
Dear jontan81,

In order for you to be competitive for top 20 MBA programs, your GMAT score will need to be as high as possible and start with a 7. You need to show evidence of your academic aptitude and make up for your lower GPA in your undergraduate studies. The career paths you mention are the two most competitive industries for MBA graduates, especially if you are an international student wanting to stay in the US or EU. Basically, you have quite the mountain to climb but it is possible to climb it if you expend the effort. Even with a high GMAT score (750-800), there is still no guarantee of admission so your application as a whole will need to be stellar.

It is possible to get into investment banking and consulting from schools outside the top 20, and some of these schools might be more interested in your profile. I would encourage you to do some research on other potential programs in the top 50. Whether or not you feel those have a negative impact on your career prospects is something you will have to evaluate. Keep in mind: where you want to be geographically and industry-wise will greatly impact your evaluation.

Best of luck,
Lisa
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by jontan81 » Sat Jun 07, 2008 12:23 am
Thanks Lisa,

Assuming i can get into a top 40-50 b school, would the MBA add value to my prospects in your opinion?

leaving the top tier firms out (bcg, mckinsey/ goldman, ubs) would i be able to get a i banking, consulting type job with a smaller firm or in one of the big4 in the US/EU?

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by Lisa Anderson » Sat Jun 07, 2008 5:26 am
I think the best way to enter any bank or consulting firm, regardless of size, will be to get your MBA. You want to identify programs with established connections to these industries as potential target schools.

Good luck,
Lisa
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Stacy Blackman Consulting

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