Choosing between 2 MBA programs
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Anonymous
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Thanks again.
The Exec MBA program wouldn't be paid by the same program enabling me a tuition waiver for the MBA. Staying in my current job while I get an EMBA would be really difficult; I don't want to do an online EMBA, and I live far out in the suburbs. I will look more into what companies recruit from the small school and talk with more people at both schools. I will also visit classes at the ranked school (I've already sat in on classes at the smaller school). |
Anonymous
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I went to a top 5 program, perhaps even top 3 depending who you ask.
I would personally go for the higher ranked recognizable program assuming we are talking Duke (Fuqua), Darden, Tepper, Cornell, or similar, and especially if we talking about Ross or UCLA (Ross in particular is severely under ranked and likely to move up in the coming years). I am of course biased, but in my experience the name has substantial value, particularly in getting you the first interview (after that, its on you to get the job), and for that reason and that reason alone you should absolutely consider the higher ranked recognizable program. Do not underestimate the value of a brand name and associated alumni strength. This isn't just true for Harvard - ask any Ross alum, or Duke or Johnson and you'll find similar discussions about how powerful the alumni database can be when properly wielded. The same might be true of a smaller unranked regional program, but i doubt its as comparable. Second, do you have copies of the employment reports? If not, go download them. It sounds we are comparing an unranked program to a prestigious one. You haven't talked about salary as a primary motivator, but you should look at this seriously. The difference between earning $100,000 a year and $60,000 a year over the next 30 years of your life is non-trivial. Or hell, post the names of the schools here and I'll do the analytics for you. Third, do you have a unwavering understanding of what it is you want to do or are you considering alternatives? A unranked regional program with some strength in a highly focused area may be sufficient if you have NO desire to pursue "path B" - but if you are even remotely unsure what you want to do post MBA, the benefit of going to a school with reach and brand strength outside of just "green" (whatever that exactly entails) is substantial. In my experience, even the most dedicated of dedicated - the people who come to an MBA with a crystal clear understanding of exactly who they want to work for, doing exactly X, - even those people end up getting at least a little interested in other options. Maybe 5% - and I really think its no more than 5% - come in with a post mba goal and don't change their perspectives at all. You might be in that 5%, but odds are, you aren't (even if you think you are) -- and I can think of nothing sadder than getting to school and realizing that the higher ranked program would probably have given you a shot at a career you didnt even know you were interested in, but by then its too late. A lot of MBAs have a better understanding of what they dont want to do, than what they do, whether they admit it or not. Fourth, there's an old adage that goes "location, industry, function, pick two". In general, thats true - most people I know, even those coming from top top top tier programs don't usually get to pick their dream job coming out. Going to school X because it happens to be in a city that you might want to live post MBA, feels to me, like you are playing incredibly long - and poor - odds. Especially if the city isn't a traditional magnet for MBAs. You have to seriously accept the risk that you may find yourself having to pick between the job you want in the city you don't and the job you dont in the city you do. It happens to a LOT of MBAs. Personally, and again, this is just my advice and experience - its relatively easy to change cities three or four of five years into a career (or even 10 or 20), its much much harder to change job function or industry. Again, for this reason, I'd advise you to go to the higher ranked program thats more likely to give you a breath of opportunities - whether those are in your desired city or not. Fifth - I dont know what your expectations are, but similar to #4, you should consider the very very real reality that you dont get to go do your dream job, or even your 2nd choice or 3rd choice job. Schools like to pretend that they've got a formula that guarantees six figure incomes and a lifetime of earning potential. They don't. I've seen a lot of kids have to accept pretty substantial changes in their career plans - either because they were unlucky, the economy moved or shifted, they graduated in the "wrong" year, or they just werent cut out for a specific path. Sixth - and im now kind of repeating myself, but I'll make this point as well. The "magic" of an MBA is that is a tabula rasa. You start over. A pastry chef can be a banker. A swimmer a consultant. An engineer a marketer. It doesnt matter what you did, how you did it, when you did it - an MBA gives you credibility in any field, anywhere. No other degree does that - and, again, in my experience, the value of a brand will open doors you didnt even know were there. Noodle on that as well. FYI - I run my own MBA admissions consultancy , so I speak from years of experience and with nearly a thousand applicants under my belt. Follow your heart, but heed my advice. If you want to chat more via email or on the phone happy to (no charge, just happy to help). |
Anonymous
I'm the PP w/ the consultancy. I didn't see this post before I wrote. You absolutely should go to the higher ranked program, without question or even a moments hesitation. I have worked with so many people like you - torn and unsure of exactly what they want - and I genuinely cannot think of a single person who regretted going to a higher ranked program because of the flexibility it affords. I can point to many however who were swayed by a slightly better stipend, or marginally better tuition break, or some very specific benefit: "XXX has a mock trading floor, I'll get real life experience!!! I'll go there!" (the appropriate response fyi would be 'who gives a shit? Recruiters certainly don't'.) and ended up at regional no-name universities and regretted the choice. I say again: Tabula rasa. You get to do this once, and only once. |
Anonymous
| PP: Thank you for taking the time to write such a helpful response. Are you willing to share the name of your consultancy here? |
Anonymous
I work entirely on word of mouth. No website even. Odd, I know, but honestly there's more business than I can handle already. My general model is different - most firms charge you $5,000 for 5 schools and hand hold you theough each essay. I used to do that and discovered that most people "get it" after one or two schools. Problem is, the first school takes up 100 hours and the last 10. So, no consultants offer single school packages, or if they do they make it so expensive that you are naturally inclined to go with the 5 school package. Smart business perhaps, but not great for the customer. So I stopped that approach and simply started offering general guidance - in my experience most folks can write their own essays just fine - they just need a little help getting the right story crafted and started. That can be taught in relatively short order, so I switched focus and started doing online webinars giving people the right tools, but without the handholding (and of course it's also a much more affordable option). It's partly driven by a firm belief that really 90% can be taught to an applicant in the span of ten hours or so, and also frankly, a desire to provide an option for those who are perhaps not "rich" and applying from China,etc. I make less of course, but its more satisfying and provided the applicant understands that (unlike some other firms) we aren't going to write or essays for you, the product meets a need. If you want the whole package I highly recommend MBA exchange. I can be reached at cplwebinar@gmail.com. Incidentally, I've been thinking of launching a website and perhaps hiring some staff, if you know any decent web designers, I'd be interested. |
Anonymous
| Typing on an iphone makes for poor clarity. MBA exchange is not my firm, but an example of the 'full service' companies I would recommend (if thats what you are after). |
Anonymous
| I have worked in career services at a good MBA program (also have an MBA from a top 5). To be honest, there are two factors - 1) education 2) placement. Let's be honest - while intellectually stimulating and awesome, education you can get most places. Yes the professors might be more engaging etc, but you'll get the skills at any good MBA (financial modeling, marketing etc). Placement is the variable you need to understand. Have you decided what you want to do post MBA? that is entirely what should drive this decision. Average salaries swing wildly from top ranked schools to top 10 to top 20 schools. Who recruits at those schools also swings wildly. Before making this decision, I'd think what job do I want, what salary do I want, and what do the schools provide. Ask about average salary at graduation, top employers, placement statistics (what % has a job at graduation and 3 months out). Career services at these schools should absolutely be willing to speak with you in detail. |
Anonymous
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There is a huge cost difference with exec MBA vs regular. And it's not like you get much more from the exec MBA. Sounds like OP has 2 good options and shouldn't go the exec route.
When I did my MBA, I went to a top 20 school. It is no longer in that bucket. So I don't put a ton of stock in those rankings. The makeup of your classmates and recruiting opportunities are far more important. If the unranked school is in the city you want with the recruiting you want, that sounds like a no brainer to pick that one. |
Anonymous
| 20:10, what do you think of NYU Stern and Yale? By the way, everybody in the 10-18 level thinks their school is underrated. |
Anonymous
+1 |
Anonymous
I think this is because they are better thought of as a 'tier.' None is really better than the other, just different. Some might have better placement numbers or starting salaries from year to year, but generally they have the same caliber of academics and are placing students at similar employers. |
Anonymous
I guess part of the problem is, I think, that there are not very many recruiters who go to the unranked school -- students get jobs by going out and networking, from what I can tell; the ranked school has 200 or 300 recruiters come (can't remember exact numbers now). Also important (and I just looked into this again last night) is that at the unranked school, 37% have jobs at graduation; at the ranked school 89% have jobs at graduation. 3 months out, 76% have jobs at the unranked school, whereas 95% have jobs at the ranked school. That seems like a pretty big (and important) difference. |
Anonymous
+1. I think Harvard and Stanford are tier 1. Wharton and Chicago tier 1a. Tier 2 is MIT, Kellogg, Haas, Columbia and Tuck. 10-18 are still very good schools but like you said, splitting hairs. |