Will this hinder my MBA admissions chances?

cuddlypenguin
Tue, 19 Jul 2011 00:18:52 +0000

Hi there,

First of all, choosing which degrees to get and which job to take SOLELY based upon “What will help me get into a competitive MBA program later on” is sheer folly.

If you take a job that is not your true passion, you will never excel at it. If you never excel at it, you will never become a leader in your firm. If you never become a leader (or demonstrate significant leadership potential) then forget about getting into a top MBA program.

Alternatively, you may enter a field like finance or accounting and find that you love it so much that you don’t need an MBA (which has enormous opportunity costs).

Either way, your BEST bet – future MBA or no – is to figure out which profession is most likely to have you jumping out of bed in the morning; which profession will make use of your best self.

On a more tactical level, you should study whatever will give you the highest GPA while still allowing you to take significant leadership roles in extra-curricular activities. And I mean LEADING extra-currics; not just joining a club here and there and hoping it’s enough. Getting a high GPA is especially important if you’re not at an elite college (Ivy, MIT, etc.).

I’m also confused by your assertion at the end that perhaps you would like to eventually get a job in finance “(not quant, though)”? What exactly are you looking for, then? By this, do you mean Corporate Finance?

If quant isn’t where your heart is, then…I certainly wouldn’t advise you to get a CPA nor a Masters in Finance!!!

All of that having been said…a CPA can still apply for MBAs (assuming they kicked butt at their jobs and show initiative/leadership potential)…but you don’t see a lot of people who already have masters in finance applying…in part, because yes, it sort of would be seen as double-dipping, and also because once people get that degree, they do it because they want to work in Finance and then they don’t need to go back for an MBA.

Can you post any additional details that will help me with a recommendation?

My gut, based upon reading between the lines in your message, is that you’re not in love with accounting but you think it’s “safe”…and that you’re not that in to finance either (since you want an elusive finance job that is “not quant”).

Note that getting a CPA can certainly pigeon-hole you as a meticulous numbers-nerd, so unless you live and breathe the organization of numbers (is your desk immaculate? Are your bills always paid on time? do you create spreadsheets and budgets for yourself just for fun?), then I would tell you to cut your losses by getting the bachelor’s in finance and trying to find a job that you love and will excel at and taking it from there. Note though, that if you’re not even all that excited about the bachelors in finance, it might be worth adding an extra year and studying something like marketing or strategy or operations that actually does capture your attention.

In sum: studying accounting with a goal to eventually go back and get an MBA is a waste of your youth. If you’re not in love with accounting, you won’t be enough of a rock-star at your firm to get into a top MBA program, and then you’ll be stuck in a career you hate or find yourself trying to start over again in your 30s.

Why risk having to start over again when you can start over, er – well, you can “start” right now!

Step one then is to really think about what you want. Let me know more details if you’d like for me to elaborate.