Joining In

Since I have not previously posted to our family blog, I thought I would join in.

Emma and I are both thrilled about the baby. I am humbled at the prospect of being a father. However, I take comfort knowing that Emma was the oldest in her family and that she grew up helping her mom take care of her younger siblings. Emma and I have a lot to learn about parenting, but we’re confident we will figure it out with time.

I thought I would also take a moment to update everyone on my career progress and the MBA application process. As you may recall, I was considering attending business school this fall. My main goal was to use business school as a way to reposition myself and my career (to become an acquisitions associate at an investment bank or private equity firm).

Last fall, I took the GMAT and began putting my applications together for Harvard and Wharton. In December, when I was in the middle of writing my application essays, a vice president of acquisitions at Lehman Brothers, John Randall, asked me if I would consider transitioning internally to become an acquisitions associate instead of going to business school. The transition to this post-MBA acquisitions role would take place once someone was hired to replace me in my existing role. John essentially said the position was mine for the taking so long as I would commit work at least one year and not attend business school this fall.

After some serious thought, soul searching, prayer, and consultation with Emma, I decided to take the offered acquisitions associate position and commit not to go to business school this fall. I was thrilled by the acquisitions opportunity. I really liked the people I would work with and was especially pleased with the money Emma and I would save by not going to business school. I made this decision in December 2006, just before my applications were due. So I've known for quite some time I would not be attending business school this fall.

I then thought long and hard about whether I should still submit my MBA applications. And believe me, that was a tough decision. I wanted to stop the whole process so I could freely enjoy Christmas with Emma instead of cramming through the holidays to get my essays just right. Sadly, in the end, I decided to go ahead with the applications because (1) my acquisitions offer was not documented in writing, (2) I knew the transition could become political and that the bosses in my existing group could try to obstruct my transition, and (3) my recommenders had already invested a considerable amount of time with me. Submitting the applications became a backup plan. Assuming my transition went well and I was admitted to Harvard or Wharton, my plan was to apply for a deferral so I could keep the option open for 2008.

As it turns out, I didn't get into either Harvard or Wharton. Although the rejection was disappointing (read: injury to pride), it was really a footnote in terms of my career development. It didn't make a difference in terms of my near term career progress. So there it is. Closure at last.
Now, I am in the midst of transitioning to acquisitions, and I love it. I've already worked on several deals this year, and I am currently staffed on two live transactions (one of which will be fund's largest transaction to date). I really think this group may be a long term fit for me. I really like the people I am working with in acquisitions and the potential for a satisfying, rewarding, and challenging career is definitely there. I feel very fortunate, in a way, to have achieved a post-MBA acquisitions position without the expense of business school.

The bosses in my previous group are still working to hire my replacement, and that seems to be progressing well, albeit slowly. In the mean time, I am performing both roles. So if you’re wondering why I haven’t keep in touch as much over the past few months, now you know why.

Anyway, I thought I would give you an update. Although the transition to the deal side is exciting, Emma and I are really just focused on the baby and becoming good parents. We’ll be sure to keep everyone posted when we find out the gender of the baby (scheduled for May 8th). Now that I’ve kicked things off with my inaugural post, I’ll try to keep the posts coming.

John