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Talk me out of going to HBS/GSB & HYS
Poast new message in this thread
Date: July 3rd, 2012 12:52 PM Author: Chestnut Fat Ankles Serious question. URM PE associate at one of larger funds. Got into HBS, GSB, HYS. Already put deposit down for b school - deciding between 2 of the HYS.
Went to non prestigious ug for personal reasons.
Mid 170s LSAT Low 700s GMAT (don't ask)
Have an offer to go to a large hedge fund, but I can't fight the urge to do JD/MBA at one of these schools - especially given my undergrad.
I think I'll probably still have this and similar options once I'm done with school..just a question of whether I take it now.
Thoughts? |
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Date: July 3rd, 2012 6:12 PM Author: Federal slate principal's office haunted graveyard hbs unless HF is offering serious money right now (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010408) |
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Date: July 3rd, 2012 7:08 PM Author: Chestnut Fat Ankles They don't guarantee. Expectation is ~500k for first year though. Can grow to multiples of this depending on firm performance. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010740) |
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Date: July 5th, 2012 4:37 AM Author: Spectacular blood rage aaaaaand /flame (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21019745) |
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Date: July 3rd, 2012 6:30 PM Author: Overrated indigo mental disorder Do you have the opportunity to do JD/MBA? (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010539) |
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Date: July 3rd, 2012 7:06 PM Author: Chestnut Fat Ankles Yes. Edited above. JD/MBA is the idea (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010731) |
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Date: July 3rd, 2012 7:07 PM Author: House-broken Travel Guidebook how did you get into private equity if you went to a "non prestigious ug"? (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010735) |
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Date: July 3rd, 2012 7:09 PM Author: Chestnut Fat Ankles It's not an ivy -well known, good school though. Not all PE guys go to Ivies. I had good internships and worked at top banks. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010744) |
Date: July 3rd, 2012 6:32 PM Author: Obsidian contagious spot friendly grandma The JD adds nothing. Do an MBA alone or keep working. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010551) |
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Date: July 3rd, 2012 7:09 PM Author: marvelous becky Lol this is false (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010743) |
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Date: July 3rd, 2012 7:12 PM Author: bull headed filthpig explain (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010758) |
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Date: July 3rd, 2012 7:13 PM Author: Laughsome White Plaza Prole awful jd flame (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010764) |
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Date: July 3rd, 2012 7:14 PM Author: Federal slate principal's office haunted graveyard i think so too (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010769) |
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Date: July 3rd, 2012 7:22 PM Author: Chestnut Fat Ankles Actually - not at all. I have friends who have left the biggest PE firms (most programs are 2 and out) and some HFs to do JD/MBA at Harvard and Stanford.
Two ppl come to mind: look up one of former HUG class presidents and current HLS Law Review Editor. |
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Date: July 3rd, 2012 7:31 PM Author: Opaque antidepressant drug So you're black and wanted to go to Howard/Morehouse to be around black people, right? I'd say to just get an MBA. JD/MBA is a waste of time and $$$. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010862) |
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Date: July 3rd, 2012 7:35 PM Author: Chestnut Fat Ankles Nope. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21010888) |
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Date: July 4th, 2012 12:20 PM Author: Chestnut Fat Ankles None of the big buyout funds have associates from Howard/Morehouse (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21014101) |
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Date: July 4th, 2012 1:01 PM Author: bat-shit-crazy crimson den You'd have to be such a striver to apply to both law and b school (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21014268) |
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Date: July 4th, 2012 2:58 PM Author: Chestnut Fat Ankles I admit that I am... (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21014942) |
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Date: July 4th, 2012 1:04 PM Author: Magical alpha temple Shitty flame. No one actually considers grad school if someone is offering them a hedge fund at 500k starting out (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21014274) |
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Date: July 4th, 2012 3:05 PM Author: Chestnut Fat Ankles That's the funny thing about alot of ppl on this board. Money doesnt drive every decision.
I can make 500k now without JD/MBA at one of these schools or I can make 500k in 3.5-4 years after having a JD/MBA at one of these schools.
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Date: July 5th, 2012 4:38 AM Author: Spectacular blood rage money drives every decision when you're talking about fucking law or bschool, which people basically only go to for purposes of making more money (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21019748) |
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Date: July 5th, 2012 10:27 AM Author: Chestnut Fat Ankles wrong on many levels (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21020052) |
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Date: July 4th, 2012 3:15 PM Author: Electric ivory state Assuming this is not flame, you would be a moron to do either law or b-school instead of the hedge fund job. Not only do you have pay the grad school tuition, you forego earnings in the HF job--depending on the type of job you got, the opportunity cost of going to school could be in the 7 figures for you. The fact that you'd ask a question like this indicates flame, anyone working in any serious job at a major fund would understand trade offs a lot better. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21015084) |
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Date: July 4th, 2012 3:23 PM Author: amethyst space son of senegal ^THIS
Let's assume you did Y (or wharton or northwestern) and did your jd/mba in 3 years. you've forgone $1.5M in earnings. let me repeat this...
YOU'VE FORGONE $1.5 MILLION IN EARNINGS.
now, if you do a program that takes 4 years instead of 3, then the figure is now $2M. If you don't get a full ride, add loans to that figure.
so now the question becomes, are you literally and figuratively, a million dollar striver? |
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Date: July 5th, 2012 4:29 AM Author: Crusty Gas Station over lifetime, an mba from a place like hbs/stanford/wharton is worth well more than $2 million. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21019739) |
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Date: July 5th, 2012 4:28 AM Author: Crusty Gas Station not true. plenty of young hotshots at top hedge funds and PE go onto HBS/Stanford. I personally know people who worked at paulson/citadel/soros/SAC/KKR/Blackstone, etc., who have gone to those schools for the pedigree, network, social experience. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21019737) |
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Date: July 5th, 2012 4:39 AM Author: Spectacular blood rage SHUT THE FUCK UP JJC YOU COCKGOBBLING PATHETIC FAGGOT (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21019749) |
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Date: July 5th, 2012 9:19 AM Author: Electric ivory state Horseshit. While there might be a few from top HF/PE firms, you certainly don't know plenty. Average pre-MBA salary at HBS is less than 80K, there aren't droves of people leaving 200K+ jobs to go to b-school as they aren't retards.
http://poetsandquants.com/2011/08/03/hbs-nudges-aside-stanford-in-new-forbes-ranking/2/ |
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Date: July 5th, 2012 10:34 AM Author: Chestnut Fat Ankles Ok - I have first-hand knowledge of this. Historically, every mega PE firm, save for Apollo, has sent their associates to b school. A small minority forego business school and go to a hedge fund. Vast majority leave between 400-500k/year on the table (assuming they could've gotten a hedge fund job) to go to b school.
TPG, Carlyle, Blackstone, Bain Capital still send almost all of their associates to b school. KKR and Apollo still send a few every year as well. That's just the mega funds.
Also - that data you posted is just salary. Most of these places have salaries between 100-140k. |
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Date: July 5th, 2012 10:38 AM Author: Obsidian contagious spot friendly grandma "assuming they could've gotten a hedge fund job" Big assumption, bro. |
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Date: July 5th, 2012 10:54 AM Author: Chestnut Fat Ankles true - except that remember that the associates coming out of these programs tend to be the smartest amongst their wall street cohort and they have the background that these hedge fund want.
Of course not all of them will get a hedge fund job. Almost all of them will get the interviews based on solely on their resume, though. The rest is up to the individual. |
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Date: July 5th, 2012 12:03 PM Author: Obsidian contagious spot friendly grandma They had the background hedge funds want, but most people make that switch right after being an analyst. Going ibd->pe->hf is weird and by no means the sure course you seem to be suggesting. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21020461) |
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Date: July 5th, 2012 12:34 PM Author: Chestnut Fat Ankles 1. No route is a sure route to a hedge fund. 2. Neither of us will win the argument re: when the right time is to make the switch (i.e. post banking or post PE) bc we don't have the data to back anything up.
I can only say that I've seen plenty of people do both. Going ibd-pe-hf is def not "weird" though. Not sure where you heard this.
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Date: July 5th, 2012 11:05 AM Author: Electric ivory state Going for a MBA after an associate gig ends because of failure to move up/procure higher level position does not equal "send their associates to b-school". These PE firms are not picking up the tuition tab. In any case, these people are a small percentage of the class, even at HSW. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21020175) |
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Date: July 5th, 2012 11:08 AM Author: Chestnut Fat Ankles That wasn't the implication. Not even sure what it is you're arguing against. They don't pay for b school unless the associate comes back to the firm afterwards. It's also not an indication of "failure." The vast majority of these firms simply don't promote without MBA.
To your second point, was anyone arguing that they are a large percentage of the class at HSW?
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Date: July 5th, 2012 2:55 PM Author: Electric ivory state Arguing against the point that there are "plenty" of people from large PE firms at b-schools, they are more the excpetion than the rule. An MBA can help, but promotion without it is certainly possible. In fact, the your original post in this has stated that you already have a job offer at a fund, furthering my point you'd would be moron to go to grad school. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21021467) |
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Date: July 5th, 2012 8:13 PM Author: Chestnut Fat Ankles I didn't argue that there are plenty, but I would agree with the statement. Let's assume that there are 30-40 megafund PE associates eligible to either be promoted or pursue other avenues. TPG and Bain alone send 75-80% of their associates to b school. No one at these firms gets promoted from within - not even the unequivocally #1 ranked associate. KKR, on average, sends about half. Carlyle also sends upwards of 75%. Apollo (which has the smallest classes) sends between 0-1 a year, on average.
I would certainly argue that ~75% on a blended basis = plenty.
Curious - where are you getting your data? Mine is first hand knowledge since I am at one of these firms. |
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Date: July 5th, 2012 12:00 PM Author: nubile depressive Lol. You got pwnd in this thread. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21020439) |
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Date: July 5th, 2012 2:55 PM Author: Electric ivory state ???? (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21021470) |
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Date: July 4th, 2012 3:40 PM Author: Fluffy thriller range LOL sorry about your tiny pink Princeton UG, bro. (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21015278) |
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Date: July 5th, 2012 9:29 AM Author: Tripping nowag parlour (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21019894) |
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Date: July 5th, 2012 10:36 AM Author: Chestnut Fat Ankles Never said I was black. But this guy was certainly in a similar situation..
http://www.hf.com/team/Team.aspx?membercode=aBallard |
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Date: July 5th, 2012 4:48 PM Author: metal whorehouse plenty of top megafund PE and HF guys go to b-schools. why is this so hard to believe? (http://www.autoadmit.com/thread.php?thread_id=1985432&forum_id=2#21022054) |