Regular readers of this blog know that last Thursday I started a short series, “MBA in Finance: Forget It?” I posed a less provocative version of that question to several admissions directors and with their permission posted their responses. While their replies varied and emphasized different points, they were all thoughtful, and a few concepts were consistent for almost all:
- Don’t forget finance and investment banking! It is critical to business. It may be down, but it’s not dead. It will resurrect itself in a new form, but it won’t disappear.
- Be prepared to discuss intelligently the challenges in the field.
- Have a realistic plan for achieving your goal.
- Most indicated that a Plan B, especially for career changers, is a good idea.
To further the last point, we received several detailed interview reports today in the MBA Interview Feedback Database, including one for NYU. As if on cue, this applicant wrote in response to “What was the most difficult question [in your interview]?”:
Given today’s economy, what is your Plan B if you can’t get the summer internship or job that you are interested in? Even though I was prepared to answer this question, my interviewer mentioned that a lot of prospective MBA students are so locked into their plan that it’s almost like tunnel vision and they haven’t giving much thought to a back-up plan.