Q&A: Put your questions to a banker turned MBA student

17 December 2007

3 minute read

Q&A: Put your questions to a banker turned MBA student

Tully Helmer started an MBA at London Business School in 2006. Here, he answers our questions, and he'll answer yours if you ask nicely...

Can you provide a brief history of your career?

I've only worked at one bank - Standard Bank, a South African firm. I worked in their international investment banking division in London after starting as a graduate in 2001 and going through a two-year rotation programme across their divisions. I settled in M&A and spent around three and a half years covering the metals and mining industries.

What made you decide to study an MBA?

Timing played a big part. It's something I've always wanted to do and I knew that if I didn't do it now I was never going to. I'd also reached a stage of my career at which I was interested in other areas of finance and I wanted to use the MBA to help make a transition to principal finance or private equity. Additionally, I also wanted the knowledge that comes from actually studying finance, accounting and strategy, the opportunity to network, and the ability to step back and take stock of my career.

What do you plan to do when the MBA finishes?

I'll graduate this summer and following an internship last summer I already have a job offer to work in the Hong Kong-based equity capital markets business of a major European bank.

Why Hong Kong?

There are fantastic opportunities in Asia - the Chinese growth story, in particular, has a massive appeal. A lot of the mining work I did involved emerging markets, and I really enjoyed it. They are very dynamic, and there's a feeling that you're doing something that hasn't been done before - it's a world away from doing a deal in London.

What are your feelings about the state of the MBA hiring market?

My group has had a very successful summer - I can't think of anyone who didn't get the job they wanted following an internship. The bigger concern is for people who are graduating in 2009 and applying for summer roles at the moment. However, it's worth bearing in mind that in 2006 65% of the LBS MBA class went into banking and consulting and in the difficult year of 2001 that only fell to 55%. It's not as if banks and consulting firms will stop hiring MBAs - the cost benefit ratio is too compelling.

Want to ask Tully a question? Add a comment to the box below and he will be available to answer you between 17 December and 21 December.

AUTHORSarah Butcher

Global Editor

J
J
21 December 2007
what mba programmes are out there that require no prior qualifications...
Reply
Tu
Tully Helmer
20 December 2007
Hi,
I knew that emerging markets were a key aspect of my former employer's business model.
My undergraduate degree was in Political Science/Economy and I had done some work with a Russian angle to it. So, I pitched myself as having skills relevant to their emerging market business.
Also, as a graduate without any experience or formal training in finance, I attempted to demonstrate that I would do whatever it took to climb the learning curve.
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Tu
Tully Helmer
20 December 2007
In my opinion, the top US Business Schools do have stronger brand names than their European counterparts. But, ultimately it's the individual that is hired, not the school.
So, I don't believe there is any systematic bias against London Business School graduates. Lehman Brothers, for example, hired more students from London Business School in 2007 than it did from Columbia, despite there are twice the number of students to choose from at Columbia.
As for my choice, there isn't much that separates the banks at the top of the revenue and league tables in Hong Kong, American and European both.
Reply
Tu
Tully Helmer
19 December 2007
Hi Max,
I would be less concerned about future market conditions. It's anyone's guess what the state of the market will be like in two years. A more important question is whether you will get the most out of the MBA now or whether you will gain more from staying in the workforce for a longer.
As for transitioning from markets to IBD, my classmates have demonstrated that it definitely can be done. PE, on the other hand, is far more difficult. Roles are scarce and from what I have seen, firms look for very specific skills and experience.
Good luck with your application.
Reply
Tu
Tully Helmer
19 December 2007
Hi,
There are many different motivations to pursue an MBA and plenty of London Business School students are career changers. As I mentioned in an earlier post, the majority of graduates that went into full-time finance roles in 2006 were career-changers and the same is true for those who chose to go into consulting.
From my perspective, the MBA is worth it. It's one of the best decisions I've made.
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