<p>"The Wharton Alumni Survey was designed to get a snapshot of the career paths of alumni who had graduated with a Bachelors degree from Wharton 5, 10 and 15 years ago."</p>
<p>The most recent one was not conducted in 1996, it was done in 2002 (fairly recent). And what it is saying is that even for those people who are 15 years out of Wharton, an MBA was not necessary. I think you need to actually read the survey...</p>
<p>And if you knew anything about MBA admissions you would know that it is getting easier because LESS people are applying because they can't afford to take off 2 years from their job (also intl apps are down). So I think you will find in the surey that should be published this year (looks like it's done every 4 years) that the percentage of people going back for an MBA might be even lower.</p>
<p>Talk to some people you may know who work in finance and ask them about advancing without an MBA.</p>
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<p>If you stay in your field, you do not need to get an MBA. If you start as a banker, succeed as a banker and stay a banker, you get promoted to MBA equivalent and do not need an MBA. </p>
<p>If you try to change, you have no credibility in your new field- you need an MBA.</p>
<p>Have any of you heard about Wharton's submatriculation program where as a senior at Wharton undergrad you can start taking MBA courses and graduate with a Bachelors and MBA in five years?</p>
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<p>Sure, but it's not easy to get in. As of a few years ago, they still let in maybe 10 every year. It used to be 2-3.</p>
<p>"My brother's an associate at Goldman Sachs as a Wharton grad with no MBA."</p>
<p>The whole point of associate programs at major i-banks are for recent college grads to get some business experience before they get their MBAs. Of course your brother wouldn't need an MBA. But a liberal arts grad could also be an associate at Goldman without an MBA so Wharton doesn't really give you that much of an advantage (no advantage over Princeton for a comparable applicant).</p>
<p>"Donald Trump has a Wharton BS and no MBA."</p>
<p>Donald Trump also made all his money through self-employment where it didn't matter that he didn't have any advanced degree.</p>
<p>I'm a bit older than most of you. I can speak definitively about certain things in this thread:</p>
<p>a) The IBs tend to recruit at the same 15 top schools. They hire kids with liberal arts backgrounds of all types and kids with business degrees and/or econ concentrations</p>
<p>b) There is a lot of pressure to get an MBA at certain firms regardless of your type of undergraduate degree. It's like a stripe you need to earn and wear.</p>
<p>c) Not every firm is the same and there are plenty of kids that bypass b school. It's tough to go back to school when you are pulling down $350,000 a year.</p>
<p>d) Many of the kids who do go back are very bright kids who haven't been completely successful in their initial post college work experience or alternatively want to break into a new field e.g. private equity. Some simply want a couple years away from the grind.</p>
<p>e) Decisions between Wharton, Yale and Princeton should not be influenced by perceived ability to leverage the degree on Wall Street. The firms hire at all 3. In fact tons of kids from Penn who don't go to Wharton do very well because the campus attracts recruiters from just about every financial services company.</p>
<p>Go to Penn because you want to be there. It's fabulous. If you don't want to be there, make another choice.</p>
<p>"The whole point of associate programs at major i-banks are for recent college grads to get some business experience before they get their MBAs." </p>
<p>Studyless - you are wrong again.</p>
<p>Undergrads get hired as ANALYSTS, MBAs get hired as Associates.</p>