I'd like to hear from people who are working at firms,VCs, corporate finance teams, etc. but didn't go to business school. What has your career path been like? If you could do it over, would you go the MBA route?
Currently an associate who was promoted directly from analyst at a boutique investment bank. I haven’t and won’t get an MBA at this point, and I wouldn’t do so without some rare exceptions like a) being at an elite PE shop where MBA was expected after two years and I could reasonably expect to make it back into PE based on resume and B-school, b) I wanted to change careers heavily and couldn’t see a clear path to get there through 1-2 moves, or c) maybe if it was paid for by my company. Opportunity cost + monetary cost is too high, and I’m optimistic I could move somewhere in two steps if I applied myself and wanted to move
While I’m more so in growth equity, I have a strong VC network and most have MBAs from top schools. It’s definitely important for anyone hoping to making the switch from IB or consulting into VC, as top schools will also come with a strong network of entrepreneurs and investors. Even If you were able to get into VC as an analyst out of undergrad, an MBA is still a standard at most funds to be promoted past the associate level (next level being principal) Hope this helps!
What is the TC like without MBA at your levels? Is it possible for Developers or DS/AS folks with an interest in finance and investing to break into the VC/PE industry?
MBA generally doesn’t impact comp in investment banking and private equity. It just provides people with entry to the field
I did not get an MBA, and not all senior people at my firm did. I think an MBA is good for people wanting to switching to a business like career or environment. For people already in finance or consulting I personally don't really see the point. I have seen so many people going from consulting going for an MBA and coming back into consulting with hardly no value added.
I work at a very large hedge fund (millennium). Hedge funds don’t care about MBA’s, in fact they place a premium on experience. Point72 historically has formally discriminated against MBA’s on the grounds that it’s generally not applicable knowledge and shows too much risk aversion. Other hedge funds probably informally discriminate against, too. Private equity loves MBAs. VC is probably indifferent Corp finance probably loves them All depends on which silo of finance you’re in.