‘THE MONEY I’M GETTING AT TUCK ISN’T THAT MUCH IN THE GRAND SCHEME OF THINGS’

More often than not, last-minute doubts about pursuing the MBA have put many candidates in a quandary over which offer to accept, especially when one school tosses a generous scholarship in one’s direction and another school gives nothing. One applicant, also writing on Reddit, claims that Dartmouth Tuck has given him an $80,000 scholarship, while Kellogg has weighed in with just an admit and no money. The person wants to use the MBA to land a job with McKinsey, Bain or BCG and eventually end up in private equity.

“I love both schools, with a slight bias for Kellogg – had a chance to visit both when I flew down to the U.S. for school tours. I love how both are known for being nice, and collaborative. Kellogg is a consulting powerhouse/behemoth – they send over 150-200 people into MBBs in a year. It’s in Chicago where self-directed recruiting for PE will be easy too. Kellogg has a slightly better ranking than Tuck because of the M7 prestige. The money I’m getting at Tuck isn’t that much in the grand scheme of things, I guess.

“Tuck just got described as ‘The Jedi Order’ and it’s true in so many ways. Their alumni are the most accessible out of all the other business schools. Tuck also is a truly immersive experience and a big change in the environment from the tropical heat I’m used to. The money is good and Tuck traditionally is very well known in the Private Equity circles. Tuck has strong recruitment in the MBBs too. The only slight disadvantage is – small school but way up in Hanover with only your classmates to socialize with – it sounds amazing as well as scary at the same time. HELP ME! Heart says Kellogg, Head says Tuck.”

WEIGHING THE PROS AND CONS OF STERN VS. ANDERSON

The candidate accepted to both Stern and Anderson happily shared his thinking about both schools that have accepted him with generous scholarship offers:

Stern Pros:

– Always wanted to live in New York. I love the city more than anything. I grew up (until 18) on the east coast and always had a dream of living in New York.

– Full Ride (as well as Forte Fellow) — more access to school being “up top”

– From what I can tell – more “technology media” city and Stern really does leverage NYC connections

– Strong Entertainment Program

Stern Cons:

– New York City is expensive, even with the full ride

– Majority of the program is for “high finance” — i-banking, hedge funds, etc. — which is not my world and different than the industries I want to be in.

Anderson Pros:

– LA Weather and lifestyle

– More technology/consulting/entertainment types at Anderson, which I believe I will connect more with

– Family is in Denver so long term think I will end up out West — although this is not for certain.

– Parker career center has sounded much more impressive to me

Anderson Cons:

– LA feels more spread (esp in Westwood) out so I am worried it won’t feel like I am moving to a big city (being in Chicago for the last 6 years — that is my baseline)

‘WOULD I BE CRAZY TO TURN DOWN THE LOTTERY I JUST WON THAT IS STANFORD?’

The candidate who racked up five rejections last year, only to be accepted by Stanford and Berkeley is in the same boat, having landed a full-tuition offer from Haas and no money from the GSB. The detail he is willing to publicly share in exchange for advice is extraordinary:

Background:

My entire career so far has been in public sector consulting on the east coast

I’m fortunate to have academic leave through my (non-MBB) consulting firm who would reimburse loans after a few years; I can switch out of the public sector upon graduation

I want the best business school experience that will maximize my potential and transform me as a person

My longer-term goal is entrepreneurship and creating and growing businesses that positively impact the world.

Specifically, my passion lies at the intersection of health and technology

I have $140K in existing student loan debt from previous degrees

Berkeley Haas

+Lower student loan balance would allow me to feel more comfortable taking risks and potentially not coming back consulting upon graduation

+More flexibility with the curriculum which would allow me to take more interesting classes sooner

+Quicker access to downtown SF, where I could network more easily between classes or pick up an internship during the week

+Loved the culture when I visited, people are down to earth, humble, and outdoorsy

–Alum network not as strong outside SF. Entire family on the east coast, I may want to settle there

–Fewer entrepreneurship and innovation resources

–Students live more spread out across Berkeley, Oakland, and SF – less bonding

Stanford GSB:

+most first years live in B school dorms 300 feet from the B school – more opportunity to develop deeper relationships

+The brand and caliber of alum cannot be beat, better East coast presence

+There is no better place to be for entrepreneurship and innovation, including over 150 classes and so many experiential opportunities

–More pressure to return to consulting and take fewer risks due to student loan balance at graduation ($300K+)

–Stuffier – I am from humble means and might not fit in as well culturally with ultra-wealthy students who jet-set across the world every weekend

He ultimately concludes: “Would I be crazy to turn down the lottery I just won that is Stanford? Would it really make a difference 30 years down the road?”

For many candidates, these decisions can be made on a coin toss. There often is no ‘right’ or ‘wrong’ decision. An MBA from Stanford or Berkeley would allow any applicant to pursue his or her individual dreams. But the public hand-wringing goes on.

DON’T MISS: THIS MBA PROGRAM MAY BE THE BEST WAY TO PREP FOR YOUR MBA EXPERIENCE or WE CAN’T BELIEVE THESE EXTRAORDINARY APPLICANTS WERE REJECTED BY HARVARD BUSINESS SCHOOL THIS YEAR