Post MBA Career Options

In this post, I am going to brainstorm my post-MBA career options.

To state in one line, I am doing MBA to broaden the career opportunities available.

I have technical degree in Comp Sc / IT and 5 years of work-ex in Financial Software. I want to opt for Finance concentration during my MBA.

Three main categories of employers employ MBA's in huge numbers. I have opportunity to work in each of them considering my background and future plans:

1) Finance :

Even pre-MBA, I have background in finance. Yeah, I mean some coursework.

- NCFM Capital Markets & Derivatives - (NSE's Certification in Financial Markets)
- Investment Banking Foundation Program ( Conducted by I-Flex Solutions)
- I am also pursuing 6 months Post Graduate Diploma in Forex and Risk Management offered by World Trade Center (Mumbai)

In addition, books such as Monkey Business, Liar's Poker, Barbarians at the Gate,
Random Walk down the wall street offered good insight into various careers in finance and business life.

Although I have some background in finance, I do not have professional work experience in that area. So, if i get into finance that is going to be complete career switch.

For this career switch following things are must:

1) Top 15-20 MBA program in US.
2) Securing very good internship.
3) 2 year program.

Various career options in finance are:

(i) Hedge Funds & Private Equity :
- These industries are very tough to get in.
- Hires few candidates at B-school compared to I-Banking
- Not open to career switchers.
- In summary, this would be great but chances are slim.
- Jobs in HF and PE really pay well and employees report higher satisfaction levels.

(ii) Venture Capital:
- VC is also not very open to career switchers.
- But I believe I can do good in assessing business ventures in high-tech space.
- Recruit very less and very high competition for jobs.

(iii) Investment Management:
- Has similar advantages / disadvantages as category (i)
- Variable pay (In bull market swing you get paid well, in bear market you may get laid off)

(iv) Investment Banking: (Corporate Finance Associate, Sales & Trading ,Equity Research)
- Lot of Grunt work..Excel Sheets filled with models, Creating Pitch Books, Most of the times adjusted valuations to gain business.
- Long hours around 80-100 hours / week.
- Pay is good overall but hourly pay is really turns out not so good.
- Thrill of making deals...
- 2-3 years of work ex in S & T, Equity Research can give you openings in Hedge Funds and Investment Management.
- 2-3 years of work ex in M&A can give openings in Private Equity.
- Advantage is they hire in bulk @ B-School campus.
- Open to Career Switchers.

2) Technology :

Most importantly, careers in this space will utilize my 5 years of pre-MBA work experience. I will be career advancer.

Following are the critical factors :

1) 1 year MBA is sufficient.
2) Reputed but non-top 20 school is sufficient.(Purdue /UT-Austin McCombs / Texas A&M ) with some financial aid.
3) I will be highly competitive in job market since I have relevant professional work experience.
4) Good Work life balance.

In short, this investment is low risk moderate to high return.

Following are the career options available :

(i) Product Management :

I have worked predominantly with product companies. NSE.IT, I-Flex, their parent company Oracle. This all will come handy.

I am not much looking into this option very seriously. Microsoft, Oracle, Google, Yahoo etc recruit lot of MBAs in product manager's position.


(ii) IT Strategic Consulting :

Lot of traditionally MC Companies have ventured into IT Strategic Consulting specializing in ROI, business value of IT, and risk management. e.g. Accenture, Mckinsey, Bain , Deloitte & Touche.

I can work in Financial Services Practice lines. Finance and Telecom industries are the highest spenders on IT.

In long term one can get in to CIO / CTO path easily.



3) Management (Strategic) Consulting:

I have not been thinking about this career option. But I believe to get into strategic consulting no specific background is required.

At entry level it might be necessary to get MBA from top 15-20. But it is certaily possible to switch to MC at any time even after working in IB for 2-3 years or in IT Strategic Consulting.

Following are the key factors you need to have :

1) Problem Solving skills
2) people skills / communication skills
3) Ability to think on your feet
4) Presentation skills.

No intention to offend, but Management consultants are jack of all trades...
Some good books that give insight into MC are : Mckinsey Mind , Mckinsey Way

Mostly, strategic consultants take route to entrepreneurship in long term.

Cheers...