There seem to be lots of online posts comparing careers in Finance such as investment banking to careers in Tech but very little info on what those tech jobs actually are and what the typical growth trajectory looks like. Surely even a top M7 MBA program won’t prepare anyone to become a software engineer so is it really mostly Project Management opportunities that are available for MBA interns and full time hires? What do the exit opportunities look like if that’s the case and what are typical salary averages in year 1 versus 10 years after getting your MBA? Often folks make comparisons between investment banking salaries and tech salaries as very similar but that really only speaks to the first 5-10 years of your career and doesn’t account for non-engineering functions. Is the ceiling in salary similar to what IB associates would typically make over the course of their careers? Where does one go after being a Project Manager for 20 years? Is that even a thing? curious and lost. thanks for reading. #career #tech #mbacompensation #mba
Agreed I don’t think all these functions pay more than IB. What’s the typical year 1 and year 10 at IB? PM at top companies may be competitive
At the bulge brackets or elite boutiques you’re making $250K as a first year associate. By the time you’re VP this could vary anywhere from $350K to $1.5M.
Lol MBA's that go to FAANG may make as much as their peers in IB.... per hour. But bankers work way more hours. Banking is up or out. Not many making it to a 20 year career in investment banking. Some of them make the jump over to PE, HF, VC, etc and keep earning but most last about 4 years then get a corporate job... a lot even at FAANG.
PM at FAANG is comparable to this. L8 (Director) and above make 1M +.
How many people actually make it to L8 as a non-tech PM role? Assuming that’s what OP is asking about. If it’s a tech PM role, it seems it would be much more difficult for someone without engineering experience to succeed at reach L8 or equivalent.
Yup exactly what I’m referring to, how feasible is this for someone without an engineering background but who has an MBA? Does a clear career path exist?
There’s a pyramid structure in finance and consulting as well to make partner where the big money is
I agree it is harder to get to L8 in tech. That said it’s not that easy in finance/ consulting as well. Both those industries will be disrupted by tech anyway
Thanks for sharing. Really helpful.
Product management, biz dev, Corp dev, finance, marketing are all functions where MBAs are recruited into FAANG. Satya, Sundar are both engineer + MBA.
I guess I just don’t see how corporate finance and marketing pay anywhere near as much as investment banking post-MBA. I’m really only referencing the T15 (slight stretch to top 20) programs. Typically folks who get into finance from a top MBA program are taking the investment banking route vs corporate unless of course they don’t pursue finance at all.
They don’t. Different strokes for different folks