Cornell-Queens vs. Stern vs. McDonough vs. IE
Hi All -
My company is sponsoring me for an EMBA program, need some advice on which school to attend. I am using this to spring-board into a CFO role - have a JD and BBA in Finance, and will be taking over the finance/accounting department at my current firm. Really looking for a program with a strong finance focus that will supplement my real-world experience. I am committed to staying with the company post-MBA (at least for the immediate future), so recruiting is not a huge concern at the moment. That being said, the brand is certainly important to me as I look at the long-term value to my career.
I'm based in the DC-area, so am limiting myself to this region for the sake of convenience. Also am looking at programs that don't require the GMAT as I just don't have time at the moment to prepare for the exam. With all that being said I've narrowed down to the following schools:
Cornell-Queens: The format of this program is the most convenient, with boardroom classes in DC and just 3 weeks out of office. Also is a relatively quick program at 16 months. My concerns are 1) it is a lock-step program with no electives, so not sure if it will provide the depth in finance and accounting that I am looking for, and 2) the involvement of Queens (I think) waters down the teaching quality here a bit. I understand at the end of the day you get a Cornell MBA but I'm just not sure this will be the same calibre of teaching.
Georgetown: Again, conveniently located in DC. More flexibility than the Cornell-Queens program, and should afford ample opportunity to network in DC. The down-side is that this is the lowest ranked of all the programs I am considering and wouldn't let me walk away with an "elite" MBA on the resume.
NYU: Great brand and offers a finance concentration, so from an academics perspective is great. Would have to make the drive to NYC. Another consideration is cost - my company will pay for up to $130k, so unless I get some scholarship here I will have to go out of pocket for a portion. Is the Stern brand worth the extra financial investment over the others?
IE: I've been tracking this program for a while now. On the positive side - very flexible program, opportunity to spend time in Spain, does very well in rankings, has a finance concentration. On the flip side, not sure how the brand is perceived in the US, and have heard conflicting reviews about the level of the students in the program.
I have also looked at Duke and would strongly consider if they would waive the GMAT requirement, but would be a 5 hour drive to Durham every other weekend. Not considering Darden as I did my JD at UVA and would want to expand my alumni network.
Any thoughts and suggestions from you guys would be very helpful. Thanks!
DCA to RDU is an easy flight on USAirways, what about Wharton's EMBA?
Wharton would be ideal, but would have to take GMAT and looking at significant cost out of pocket. Probably could work the GMAT in if that was the only obstacle but not keen on spending another 60-70k or so after already taking out 100k+ for law school.
CFO role? I think you are an old dog asking puppies for advice.
TwoThrones - old knees and gray hair but still a few years shy of 40! And advice is advice regardless of what age you get it, right?
I think if you plan to stay in the US,there is not sense to apply to European MBA,especially IE ,which is definitely not on par with LBS/INSEAD/IMD/Oxbridge.
Georgetown has a good program ( I visited their campus couple of times and now I strongly regret that I study in GWU) and it's convenient for you as you live in DC area... Also, I think you really can try taking GMAT without much preparation.I am sure you are good with both math and English, so just a week of going through couple of practice test + revising some theory and you ll get a 600+ score which is enough to apply other EMBA programs.
Yeah I would strongly advise you not to limit yourself only to EMBA's that don't need GMAT scores as part of their application. Depending on your priorities, and how much you want the prestige/potentially better network, it might be worth it to shell out extra cash for a better EMBA.
My options would be:
1) NYU 2) Georgetown 3) IE (wayyyy down, if you do plan on staying in the US).
If you're going to be paying out of pocket anyway, I would also seriously consider something like Wharton's above NYU etc.
Take the GMAT it isn't that painful, get Manhattan GMAT and Sackman's Math book, take a free test from Kaplan or Princeton and see where you are sitting, the EMBAs are not as exacting as are standard MBA admissions for that and since you may be paying out of pocket for part of it go to the best school you can go to also look into Booth, if you're willing to drive down to Durham the flight is no worse to Chicago.
Just to clarify, I'm heavily leaning towards a program where I won't have to pay out of pocket, but hear the reasoning that if I was to do so, would make sense to take the GMAT and do a Columbia/Booth/Wharton over NYU. Duke may be the most attractive option at that point since it would be completely covered.
Any thoughts on the Cornell-Queens program? Not worth the time? Appreciate all the feedback so far, thanks all!
Interest to know whats your end game after the MBA and a few years as CFO? Are you trying to transition into an industry/role that requires such elite branding that its worth taking on XXX debt as a 40 something year old?
Also have you looked into Harvards AMP program? Not sure what the requirements are but I believe its a mini MBA for execs.
http://www.exed.hbs.edu/programs/amp/Pages/default.aspx
$75k for 2 months and no GMAT. Probably wont learn too many hard skills in 2 months, but if this truly opens you up to the Harvard network then...buy some BIWS courses or something
I think you need to decide how much the prestige is worth to you, and whether it is worth paying out of pocket. If the prestige will help your career more than paying will hurt it, definitely go for a Wharton/Booth/Columbia type.
I would highly recommend against picking one that doesn't need a GMAT- give up a few weekends if you have to, but go to a better program after getting a good GMAT score. Duke could be a good option, and in my opinion would be better than Georgetown/Cornell-Queens etc.
Thank you all, lots of good advice here. I think I will invest some time to take the GMAT and open up some other options. Brand is important to a degree, but I don't ever see myself on Wall Street or in the banking/VC/PE world. The firm I'm with right now is on a 5 year sell plan, so I'll likely take my equity from that and start my own firm at that point.
Thanks to all!
Thank you all, lots of good advice here. I think I will invest some time to take the GMAT and open up some other options. Brand is important to a degree, but I don't ever see myself on Wall Street or in the banking/VC/PE world. The firm I'm with right now is on a 5 year sell plan, so I'll likely take my equity from that and start my own firm at that point.
Thanks to all!
Final follow up: I can only imagine that a stronger brand name (ie an EMBA from an 'elite' school) will be extraordinarily helpful if you have plans to start your own firm. If that is a serious goal of yours, if I were in your position I'd definitely look into one of the best programs and pay out of pocket a little if necessary.
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