Hey CC,
so I’ve heard from a bunch of (kind of) sources that if I go to Wharton for an undergraduate degree then go into finance I don’t have to get a MBA anymore. I was just wondering if this is just a myth or if it holds some truth.
Any help would be appreciated!
Thanks!
You don’t have to get an MBA, although you may choose to do so.
If your question is “Does an undergraduate degree from Wharton suffice if the job requires an MBA?” then the answer is “No.”
I believe that Wharton offers a 3+2 program in which you can receive a M.B.A in 5 years . Not sure if that would be an advantage . Best of luck in whatever you choose !
Not many Wharton undergrads ever get MBAs because they are less and less necessary in finance now. In general, MBAs are networking degrees, and you don’t need that after Wharton.
OP: all of the first 3 posts in response to your question are correct to the best of my knowledge & belief.
This is a current hot topic in the world of MBA schools which are moving toward one year specialty masters degrees rather than the typical 2 year generalized MBA.
Several MBA programs have recently discontinued the regular FULL TIME MBA programs–including Iowa Tippie.
@NashSaddle Uhh what? According to the 10 year career reports from Wharton, about 40% of graduates get an MBA and 50% of graduates get some kind of graduate degree, including MBAs.
Most of the class goes into consulting or banking, which usually require an MBA at some point in order to progress through the promotions.
@Superpulsar To answer your question, it does not replace an MBA unless you end up in PE/VC/HF straight out of Wharton undergrad. In those cases, you wouldn’t leave to get an MBA, but if you go into consulting or IB then you’ll probably go back to school for your MBA after 3-5 years of graduating college.
@aoeuidhtns Historically maybe. Certainly not today. Very few recent alums intend to ever get an MBA. It’s a two year vacation which is nice, but the opportunity cost is massive.
Not many people stay in banking or consulting more than two years, and most places don’t ever require an MBA regardless.
@NashSaddle: OP: NashSaddle knows what he/she is talking about.
It is not just for Wharton graduates. Many jobs that used to require MBA degree are no longer that rigid. A lot of IB analysts get promoted to be associates/VP and higher without getting a MBA degree. People often get a MBA when they want to pivot.
My daughter doesn’t have a MBA and she is a VP at a major IB. My nephews were going to get their MBA after 2 years. They have changed their perspective after working for few years. My daughter’s roommate went back to get her MBA (Harvard) when she wanted to change her career.
By going back for MBA, you lose 2 years of earnings plus tuitions, and you still get the same job (associate) when you return to work.
There has to be a reason to make such a substantial sacrifice (two years of lost wages & two years of very substantial tuition payments).
The most valid reason, as noted above, is to switch careers/switch industries. Even so, many suggest attending an M-7 or bust. I do not agree with the M-7 or bust mentality, but it has some regarding switching industries.
@Publisher @NashSaddle Also a Wharton grad here — I think it’s easy to say recent grads don’t intend to go back to school, but once they hit the sweet spot age for b-school (27-29) and are thinking about switching industries, a lot of classmates will end up back at school.
Sure, if you do promote directly to the post-MBA position or are fine with your industry, then there’s no sense in going back to school, but a lot of the incoming MBA students also come from the associate level (i.e., want to jump ship even though they were at the post-MBA level). And, most of the class does end up going to an m7/t10 program — no surprise there — so the long-term cba usually checks out.
Makes sense to me.
@aoeuidhtns About ~20% get an MBA according to the latest report published: https://www.vpul.upenn.edu/careerservices/files/20062007WhartonAlumni5YearOutSurvey.pdf
That data is over 10 years old, but clearly shows the downward trend. It’s probably considerably smaller than that now.
@NashSaddle, Yeah not arguing with you there. But I quoted the 10 year report, not the 5 year report. Most people are applying for their MBAs right around the 5 year mark, so the number is obviously higher when you add years 6 through 10.
Anecdotal, but the number of Penn seats at t10 MBA programs has remained relatively unchanged for the last few cycles. That is, the cohort size of Penn alums at these programs is fairly stable year after year.
@aoeuidhtns " the number of Penn seats at t10 MBA programs has remained relatively unchanged for the last few cycles"
Perhaps many of those seats are CAS and SEAS grads? I do hear Wharton grads graduating with at least no immediate plans for an MBA unless it becomes necessary for some reason.
@Much2learn Could be the case. Guess we won’t really know until the next 10-year report gets published. The last 10-year report was published in 2013 with the following #s:
% of SEAS grads w/ MBA: ~27% (survey doesn’t give enough data to give the exact number)
% of SAS grads w/ MBA: 13%
% of W grads w/ MBA : 26% (down from 40% from the previous 10-year cohort)