How much can someone with my skill-set make in the business world?

Graduate School Business School - MBA
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<p>In high school I had about a 3.7 or 3.8 g.p.a., and I scored a 28 on the ACT. I had a lot of great extracurriculars (highest math course I took was pre-calc, got A's), so I got into a top 5 public university. I spent my first year there as a pre-med student, sort of struggled with the large classes, had about a 2.9 or 3.0 g.p.a. I transferred to our state's top private school the following year, and later switched majors to History (thought I'd like being a teacher/fball coach). I just recently graduated from there with about a 3.2 or 3.3 g.p.a (highest math course I took was Stats101, got an A). </p>

<p>So, I've been a graduate for about a month or so now. Taking a little bit of time off to relax. Really trying to think hard about what my next move is going to be. I'm basically down to two options:</p>

<h1>1) Child Psychiatrist (I did my senior thesis in psychology and really got interested in the field in my last couple of years of college...too late to switch my major though). Post-bacc pre-med program (1-2yrs), med school (4yrs), psychiatry residency (4yrs), child psychiatry specialty (2yrs). Total, 12 more years, wow. lol. But, I would be getting paid decent for the last six years. And after it was all said and done, I would be making about 200k a year.</h1>

<h1>2) Something in the business world. I am really interested in investment management as a whole, and if I got a chance, hedge fund management. Private Equity is something that interests me as well. And there are some areas of management consulting that I think I would enjoy working in. I might be able to get a good job as an analyst somewhere right now...if not, I could get a masters in economics and then try. Then, 3-5 yrs working there. Study my hump off for the GMAT. And I might be able to get into a good business school, though probably not super elite (top 5 or whatever). 2 yrs of business schoool. Then I'm on track.</h1>

<p>My question is this...based on all the relevant information that I can think to tell you...where do you think my earning potential is the highest? Med-School, about 200K/yr. Or the business world...where there is a much, much wider variation in salaries. I know it's really really hard to say, and a lot of luck comes into play. But please, just give me your opinion...not too optimistic...not too pessimistic...just honest.</p>

<p>Thank you very much in advance,</p>

<p>Blue</p>

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<p>since you missed on-campus recruiting for wall st, unless you are well-connected into that industry your chances of breaking in are pretty low. I would go the medical path, as the business ship may have sailed, believe it or not.</p>

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<p>“since you missed on-campus recruiting for wall st, unless you are well-connected into that industry your chances of breaking in are pretty low. I would go the medical path, as the business ship may have sailed, believe it or not.”</p>

<p>…I’m sorry, but that sounds kind of ridiculous. I went to a small (but highly regarded) liberal arts school in the midwest that only had about 1,500 students. We didn’t even have “on-campus recruiting for wall st.”</p>

<p>…It seems like, if wall st. was what I wanted to do…I could get a masters in econ at NYU or something and get myself started somewhere. Or even if I stayed here in the midwest, I could probably get recruited as an MBA student, right?</p>

<p>…That sounded a little overly pessimistic. Could you explain your response a little more thoroughly. You seem like a really knowledgable guy based on your responses to my last thread.</p>

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<p>wall st has an addiction to prestige. i guess there are enough people that “did it right” the whole time (ivy undergrad, econ major, get internship, get ft offer) that there is no reason to look outside the bubble.</p>

<p>the best chance is a graduate program that has solid wall st placements, as you have mentioned. unfortunately, even if you get into one of those programs, they are often looking for prior finance experience, especially in a down-time economy. </p>

<p>as far as I know, “MS Econ” might not be a great wall st feeder, at least not nearly as much as an MBA or an MFE (masters financial engineering). Before you attend a graduate program make sure you look at their placement record for career switchers.</p>

<p>i don’t mean to be harsh, and of course there is always the story of the person who worked up from the mailroom to become ceo or whatever. but for the most part to get the “good jobs” requires either enrollment in the right programs w/ successful on-campus recruitment or prior connections to wall st somehow. </p>

<p>the other option is to network into it by trying to find those connections, perhaps by people w/ the same undergrad who are already working on wall st.</p>

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<p>This bodes even less well for you, as it means that your school is either not as highly regarded as you think and/or not a target for finance, which further means that students from your school that have entered the banking world will be even smaller in number, lowering your chances of networking. </p>

<p>A Masters in Econ will help you in no way, shape, or form for IB. Further, with your GPA getting into any of the top MFin programs-- which could supply you with the required OCR-- is also gone. </p>

<p>Your best bet for breaking into finance would be getting a job in something meaningful and interesting to you right now, and working there for 4-6 years. Work hard, move up the hierarchy in whatever it is that you’re doing, and take the initiative to make an impact. Then, apply for an MBA, and try and get into a T20 or so, or a top MBA for your regional area. Doing so will at least lead to great jobs in the surrounding area in management or something else you specialized in (real estate, health care administration, etc), and can lead to a very comfortable upper middle class salary (definitely upwards of $100,000 eventually). </p>

<p>If you had to enter business, those would be my suggestions.</p>