We’ve debated it endlessly here — is an MBA worth the investment for a career in finance? In the most recent episode of the Open Door interview series, hosted by finance career site OneWire, Ian Snow, the CEO of private equity firm Snow Phipps Group, weighs in.
After earning a BA, with honours, in History from Georgetown University, Snow’s finance career took off, beginning with a job as a financial analyst at Salomon Brothers. He then went to work for Ripplewood Holdings, LLC, where he remained for 10 years. In 2005, he co-founded Snow Phipps, a mid-market private equity firm, where he serves as CEO, Managing Partner, and Partner.
Now for the crucial question:
“I didn’t get an MBA myself,” said Snow. “By the time I was at the point in my career where I should have gone to business school, I had progressed so far along that the opportunity cost I viewed as too high.”
Just because he didn’t get one himself, though, doesn’t mean Snow doesn’t believe in the value of an MBA.
“I think an MBA is an excellent choice for someone looking to switch careers,” he says. “It’s a great networking vehicle. But I think there’s no substitute for on-the-job training and experience.”
Snow’s interview also touches on the qualities he looks for in junior candidates when hiring. Watch the interview below to learn more!