Cornell Johnson (full ride) v. Yale SOM (40k a year). What would you do?

Hello,

I've been going through this decision in the past week and I wanted the forum's perspective. I had an initial thread over the same issue a few weeks ago, but Yale came back with a revised offer that changes the calculus. Essentially, I am in a fortunate position with two great offers, but I face a dilemma because of the following factors:

About me:

-I will be on the younger side when I commence my MBA (25-26)
-I am a bit of a "poet" so I've spent my experience working mainly on policy-related work (with private sector organizations)
-I am often referred to as a intellectual type, so I would actually enjoy an academic MBA experience that will truly hone my technical understanding of all aspects of management (with the full understanding that that is not the purpose of an MBA)
-I don't really care about location, but I want a student body filled with more "non-traditional types" whose sole concern is not landing a banking or consulting job (there is nothing wrong with that! I am a proud capitalist and I'll probably be recruiting for one of those jobs).
-I am generally debt averse...completing the MBA at Johnson will leave me with 25-30k in debt, at Yale it will leave me with 80-90k in debt.
-Though I will be recruiting for traditional roles, I will be doing my own recruiting on the side because I want a post-MBA job that strikes a good balance between pay and life. I can do something that I don't necessarily 'love' as long as it pays me enough to enjoy life.

In summary: Cornell has given me a prestigious fellowship that will make the financial burden inconsequential (I could probably pay it back within 6 after graduation). As a person from a limited family background (economically speaking) , I do not have a fallback, so the debt burden is important to me even though I know that a 60K difference is inconsequential in the long-term. I just get the sense that I will have a better intellectual experience at Yale SOM. In terms of post-MBA career: I have such an array of interests that are hard to pin-down. The only thing that I know is that I would rather live well in a second tier and easy going city (Philadelphia and DC) than running the rat race in NYC.

Any advice would be deeply welcomed.

 

Classwise you have a lot more options at cornell. You can take classes from pretty much any of the cornell schools which is an extremely wide variety. I'm not really sure if Yale does anything much better than cornell in terms of recruiting besides nonprofit. Yale moved up in the rankings this year but based on recruitment stats it seems about the same as cornell still. Although it would be interesting to hear how responsive the Yale undergrad network is to the Yale MBA students. I do think the Yale students will be a tier above the cornell ones though.

Unless there's something you want to do that Yale specifically offers and Cornell doesn't, I'd probably go to Cornell with the money they've offered. If it was Columbia or an M7 then I'd do that over cornell.

Then again Yale does give you the Y bomb. I'd try to visit both places before you make your decision.

Also, i will be matriculating to Cornell in the fall.

 

Like you, I went into my MBA at age 25, and more specifically as a world-traveled backpacker, idealist, curious intellectual with a storied past in policy-related international development consulting. I came to Cornell with plans to do the Sustainable Global Enterprise immersion and pursue consulting. I had limited to no experience in finance--I thought it might be over my head, but I wanted an MBA to give my at least a conversational, borderline professional level of understanding in the subject. But completely out of nowhere, Cornell's program immersed me in initiatives to reflect on my values, principles, drivers, and the tools I needed to introspect and to calculate that at this stage in my life, in fact, investment banking offered me the best opportunity to achieve my goals. It was the chance, the encouragement, the support and mentorship of dozens of 2nd years and faculty to help me identify that I wanted to work in a high-intensity, client-driven business, with the chance to hone and develop a technical skillset I had never had before (coming from a liberal arts background). Cornell made it possible for me to explore and test my limits, and within four months of intensive recruitment and interview training, I walked away with multiple offers from the best of the BBs and EBs. But in all honesty, more importantly, I walked away with a cohort of 50 of the best friends I have ever had, and the confidence in myself to hit the pavement this summer at the EB I ultimately selected with the hard and soft skills relevant to IB and add value. The immersion and these people set this school apart, and that is why Cornell IB interns have a 90% internship-to-FT conversion rate, above the Street average of 70%. We consistently rank among the top of intern classes within the groups where we place students across the street. We root for each other and help each other--it's been the best experience. To your point about people--before coming to school, I worried about the close-mindedness and potentially my inability to connect with the typical finance and consulting types. But I can absolutely, 100%, totally and absolutely (again) assure you that this school, this Investment Banking Immersion program (unrivaled across business schools), and the collaborative, friendly, authentic, selfless, and interesting people in this program have absolutely and unequivocally exceeded my expectations. Youtube "Kenny REDtalk Cornell Johnson" and watch "Be More than your resume" for an example of this authenticity.

Finally, re: fellowship, are you referring to Park? The fellowship is prestigious, yes, but more importantly, it is truly unique and offers significant value above and beyond a resume rubber stamp. Individualized training, a cohort of another 25 best friends sprinkled across the program, the chance to take time to reflect on your life during what is likely the last long-term period of unemployment you will have in your working life, and the encouragement and tools to make a significant impact on the community. It's an incredible complement to the MBA experience.

PM me if you want to chat further :-)

 

If I were you, I’d take Johnson. Despite Yale’s recent rise in the USNWR ranking, I’d consider them basically peer institutions. While neither of those loan burdens are horrible, everyone has their own tolerance, and if the amount from Yale would make you uncomfortable, then don’t do it. Also Cornell’s wider MBA alumni network may provide useful if you aren’t chasing the more traditional finance and consulting positions.

Are/were you able to attend any of their Welcome Weekends?

 

I attended a Cornell weekend event for 'top' applicants but not the official admitted students weekend. I am leaning towards Cornell so I'll probably not head to Yale's.

 

If you got the Park Fellowship choose Cornell. You'll get all of the support you need to have as intellectual an MBA experience as you'd like. And since you don't quite know what type of job you're after and seem to value work/life balance, you'll have the freedom to opt out of being herded into a typical Finance/Consulting gig, either of which would leave you miserable. You also have no safety net, as you've admitted. Why have a stressed out MBA experience on top of it?

Take advantage of the optionality the full ride offers you. Go to Cornell and don't look back.

 

sillymonkey123

This guy is a prestige whore.

Are you an MBA student? If you are, you wouldn't be saying these things. I passed up on Wharton-Lauder, in order to attend Dartmouth's Tuck School of Business, and I absolutely have no regrets.

Sillymonkey,

You need help!

 

I'd attend the Yale admitted students weekend so that you feel comfortable knowing exactly what you're walking away from, but I'd probably choose Cornell. Yale might have a higher USNR ranking, but I'd say that there's alot more opportunity to be had because of their Immersions.

"Even if you're on the right track, you'll get run over if you just sit there" - Will Rogers
 

I understand the dilemma, but Cornell seems like the right choice. In short:

  • Same tier (ie. quality), but you're getting one at a massive discount.
  • MBA debt is always more than you expect
  • and it takes longer to pay down than you expect
  • Visit both Admit Weekends to compare the vibes. Unless Yale really conquers your heart, Cornell makes more sense.
The truth is you're the weak. And I'm the tyranny of evil men. But I'm tryin', Ringo. I'm tryin' real hard to be the shepherd.
 

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