untar614 wrote:For what I've been told, MBAs are largely networking opportunities, and most of the people coming in have very solid work experience that will help them in getting those good jobs upon graduation. I would guess the best option would be to go get the necessary math prerequisites and then get a masters in finance/financial engineering/mathematical finance/etc from a top school like Princeton, Berkeley, Columbia, NYU, Stanford, Chicago, MIT and Carnegie Mellon. Those, I believe, are more geared toward people with very little work experience. They'll probably get you entry level jobs as a financial analyst, though the best students at Princeton may be able to get better stuff. But the important thing is you should be able to get relevant work experience in finance with decent pay, and a chance to work your way up a bit. Then later on, once you've sort of topped out as a quant and have a lot of experience, going to an M7 may do more for you in trying to get into a higher managerial position in finance.
This makes sense and its a solid explanation of the distinction, although clearly getting your BA or BS in math/econ/stats/finance would avoid the redundant masters. I would go for a Ph.D fellowship(fully paid with generous stipend) in Economics at HYPSCC if you have the grades and profs for LoRs, then take terminal MA after 2 years and leaving for a position in finance (these programs are well connected). Then you'll have the pedigree and job for free. Paying $100K for a masters that teaches you undergraduate work -- someone mentioned black sholes, we did that in metrics II -- seems a bit trite. Id be hard pressed to advise it unless you are doing the jd anyway and its the same cost (dual).
The MBA is for people who have completed their entry level experience and need to transition to a higher level in the same line of work, or who seek to shift (obviously this is more challenging). Remember the plurality of every top b-school ends up in consulting anyway.
I already have a BA in Economics, from an Ivy. Econ or Finance majors at college level are 'soft' majors and teaches you very little quant/ math skills.
PhD programs in Econ at top schools look for strong math/ stats skills and they'd rather admit people who were math majors in college, rather than Econ majors at college.
Not to mention, even if I get into Econ PhD, I wouldn't do it anyway.
Regarding masters in Fin. Engineering: I suck at math and don't have the mathematical ability to get into top programs. Also, regarding finance, I am looking to get into M&A (I-banking) or Restructuring (where top MBA's feed into), not trading or risk (where Fin Engineering largely feed into) As a result, a top JD or top MBA makes more sense for me.
The value I see in a top MBA is that it enables people to make major career changes (ex: go from IBM's IT consulting -> top 10 MBA -> Morgan Stanley IBD or MBB Consulting)
However, I keep hearing that MBA's employment outcomes have been very murky nowadays and it seems to be a big gamble for me to take.