Choosing between 2 MBA programs

[Anonymous]

I was offered admission to a top-20 MBA program (out of the DC area) and tuition is waived because of a state program because I'm a veteran. I didn't get other funding.

I was also offered admission, tuition waiver, and monthly stipend (through an assistantship, working with a professor) to a small, unranked MBA program but one that is highly regarded for its green-focused programs.

The unranked program is in a city I would eventually like to settle in one day and has good connections to those local businesses, though the city itself is not really an MBA city.

I'm not sure what to do. (Oh, and please don't try to dissuade me from getting my MBA; I'm in a dead-end career, tired of living in DC, and have thought long and hard about going back to school.)

Any advice or insight?

[Anonymous]

I'd do the top 20 program. Maybe you can do work study there to offset the costs? I did work study and earned quite a bit in my summer internship in my MBA program, in addition to loans and grants. I had some debt coming out but paid it off quickly with a substantially increased salary (although I was coming from a very low salary so could only go up).

[Anonymous]

How high top 20? Like top 10? I think it's probably worth it to go for the top 20 program if you can manage it.

[Anonymous]

Top 20

[Anonymous]

Thanks. The top 20 program is ranked in the teens, not in the top 10. It's in an area of the country that I don't want to settle, but (being a Top 20 school) does have national reach.

Are you advising the Top 20 program because of my earning potential afterward?

The monthly stipend is less than $1000K/month.

I am also an older student (late 30s) and wonder if I will have a hard time fitting in at a program where most people are about 10 years younger than I am. I feel like the small program is a better fit for my personality but wonder if I would be missing out on the intellectual challenge of a better-ranked program, as well as a wider range of post-school job prospects.

We have a young child who will be starting kindergarten, and part of me wants to go to the small school just to be settled and done. But I am a little concerned about job prospects and salary after the smaller school.

[Anonymous]

Small, unranked MBA.

The no-brainer seems to be top-20, but I think your personal goals of getting to your dream city and staying there is very important. The stipend will also help if you have a family to support. I went to a top 5 and it was a great education but it really turns out people for big-name corporations willing to pay $$$ for salaries.

[Anonymous]

Wow, thanks PP. I was hoping to hear from other people who've gotten their MBAs from top programs. I have to admit that it's hard to think that I am foregoing working for a big corporation for a lot of money, but I don't even know if that's what I want, you know? I don't know if I'm being naive or idealistic in being drawn to the smaller program (which in many ways is anti-corporate), or if I need to (as they say) follow my heart. The two paths are so different, and I feel like it's a hard choice because I have to really know myself and what I want for myself.

[Anonymous]

Anonymous wrote:Wow, thanks PP. I was hoping to hear from other people who've gotten their MBAs from top programs. I have to admit that it's hard to think that I am foregoing working for a big corporation for a lot of money, but I don't even know if that's what I want, you know? I don't know if I'm being naive or idealistic in being drawn to the smaller program (which in many ways is anti-corporate), or if I need to (as they say) follow my heart. The two paths are so different, and I feel like it's a hard choice because I have to really know myself and what I want for myself.

Most of my young adulthood was spent at top-ranked universities far from home. I'm now pretty stuck in DC which isn't where I want to be, so that is my perspective. Top ranked schools will open many doors, but might not in the town you want to be in. Since its free either way (and a little pocket money for the small town) I say go for the 'better life' prospect. After your years of service (thank you!) and moving around you deserve to settle somewhere.

[Anonymous]

If you're in your 30's, why not do an Executive MBA? You can work at the same time (so lower opportunity cost) and your cohort will be similar to you in age and experience.

Between your current 2 choices, go Top 20 for the academic rigor. If you're going to put your career on hold for 2 years, make it worth it.

For comparison, go to both and ask to sit in on a class. I think you'll find the Top 20 is just a better cohort and quality of instruction.

Had a good friend who went to a lower-ranked (not in top 20) program because they gave him $$, instead of another program (top 20) in the same area (same city). I can tell her regrets it. You don't want to be the smartest person in class.

[Anonymous]

Here's my take. Non top 10 but top 20 and worth going to include Yale, UCLA, Virginia, Duke, NYU Stern, Michigan, Cornell and Carnegie Mellon. Texas and North Carolina are also good. After that, it's really not worth it unless it is a very specific skill the school is known for (eg supply chain at Michigan State and Arizona State).

[Anonymous]

Here's my take. Non top 10 but top 20 and worth going to include Yale, UCLA, Virginia, Duke, NYU Stern, Michigan, Cornell and Carnegie Mellon. Texas and North Carolina are also good. After that, it's really not worth it unless it is a very specific skill the school is known for (eg supply chain at Michigan State and Arizona State).

[Anonymous]

Thanks everyone. So much to think about.

The ranked school is one that you mentioned, PP.

(p.s., not doing Exec MBA because I'm doing a career change and need the experiences that come along with a full-time MBA, including an internship.)

[Anonymous]

Here's my perspective: I went to a top 20- really top 15 school in another city but knew I would most likely be settling here in the DC area. There was absolutely no recruiting for companies outside of that city other than consulting companies, at which I didn't want to work. So, I had to do the job search on my own. In retrospect, I wish I had gone to Georgetown or Maryland because they get recruiters from local companies and it's much easier for them to find jobs around here than it was for me, even though I went to a higher ranked school.

[Anonymous]

I don't buy that you go top 20 or you don't get anything from your MBA. I went to GW - not highly ranked - but did well and was recruited by a top firm in my desired field. I was able to break into a new career and nearly doubled my income. The most important thing outside if the curriculum is what companies recruit at the school and are they companies you'd want to work for.

[Anonymous]

Anonymous wrote:

(p.s., not doing Exec MBA because I'm doing a career change and need the experiences that come along with a full-time MBA, including an internship.)

Think this through. This is the decision I faced, as I was late 20's but with a lot of experience (was running a small startup at the time). I'm glad I chose my school's (top 10 worldwide) exec MBA vs MBA program. The MBA students (who I did interact with in some electives) were just too "green", as the average age was mid 20's and their experience level was lower. My cohort was mostly early 30's and were at a different stage in their career.

The best way to find out is to sit in on a class if possible. I had a few classmates who were also changing their career, but I still thikn they fit better in the exec MBA program due to career experience at that point. Remember you're going to learn about 50% of things from your fellow classmates not the teacher. At least at my school, the career services was equally open to exec MBAs, so we could also find an internship if we so desired.