Wharton vs. Chicago Booth

I've had the good fortune of being admitted to both of these schools in round 1, and I'm having a tough time with the decision-making process. I want to do strategy consulting after b-school so I am less concerned about the finance/wall street reputation. I'd love to hear from any alums from either school or any other prospectives making the same choice. I think my biggest question is, how big is the "prestige" edge for Wharton - would I regret going to Booth over Wharton 10 years down the line and/or would recruiting for top consulting out of Wharton be significantly easier? Is this a silly line of reasoning to go down?

My thoughts so far..

Wharton
-Arguably has a slight edge in rankings/prestige/recruiting/call it what you will
-More cutthroat reputation
-I like the idea of a cluster/cohort system
-Not psyched about the prospect of 2 years in Philly

Chicago
-Awesome faculty and sparkling new facilities
-Nerdy stereotype
-Concerned that the "flexible curriculum" and lack of a cohort system will make it tougher to develop a good social core
-Chicago is a cool city and with a relatively low CoL, from what I've heard

 

First of all, congrats on getting into 2 amazing schools.

Wharton places better than Booth with regards to MBB consulting, on a per capita basis. The difference is actually substantial from what I've seen. And although Booth is rapidly rising, Wharton still has a better name, worldwide reputation, and a stronger network. On the other hand, harper center is amazing, and Chicago is a much better city than Philly. From a social standpoint, my friends at Booth did not feel that the flexible curriculum impeded their social lives. The thing about b-school is that there's so much stuff going on, you can easily find activities and people to hang out with. It's basically non-stop partying and travelling for 2 years.

Wharton does have a better social scene than Booth though. The latter is definitely dorkier while the former has a lot more attractive girls and a student body that is much more inclined to excessive partying.

 

Agree with all of the above. And another factor here is the undergrad scene. Have a friend who summered on my desk now in his 2nd year at Wharton ... they reel in Penn undergrads easier than fishing with dynamite.

I am permanently behind on PMs, it's not personal.
 
A Posse Ad Esse:
Agree with all of the above. And another factor here is the undergrad scene. Have a friend who summered on my desk now in his 2nd year at Wharton ... they reel in Penn undergrads easier than fishing with dynamite.

Lol. This is absolutely true. The Wharton MBA guys are like demi-gods on the Penn campus. They do well with not just undergrads but nursing, law, med, etc. They basically get their pick of girls.

 
A Posse Ad Esse:
Agree with all of the above. And another factor here is the undergrad scene. Have a friend who summered on my desk now in his 2nd year at Wharton ... they reel in Penn undergrads easier than fishing with dynamite.

LOL. Wharton MBAs are actually known as the creepiest guys/girls on campus. ;)

 
seedy underbelly:
A Posse Ad Esse:
Agree with all of the above. And another factor here is the undergrad scene. Have a friend who summered on my desk now in his 2nd year at Wharton ... they reel in Penn undergrads easier than fishing with dynamite.

LOL. Wharton MBAs are actually known as the creepiest guys/girls on campus. ;)

Not true at all. The Wharton mba guys do extremely well with the girls. For one, wharton mba is the most prestigious program at penn, the guys go out a lot and are always partying, and many of them are charismatic and alpha.

 

Congrats on the admits. I was also admitted to Booth this month (I did not apply to Wharton)

In response to Brady4MVP, Wharton does NOT place better at MBB than Booth on a per-capita basis. In fact, it's the other way around.

Take a look at this chart and remember that Booth has a much smaller class size (~500 vs ~800): http://poetsandquants.com/2011/11/16/mckinsey-doubles-mba-hires-at-duke…

You seriously cannot go wrong with either school. Have you visited either of them?

 

Wharton has a great history and slightly better name. Chicago Booth is on the rise, look where was this school 10 yrs ago and where it is now.

If you're doing PE, Wharton has an edge over Booth, Booth is slightly better for IB and HF (especially if you want to stay in Chicago and deal with options) but for consulting it does not really matter. Both schools are great and are equally represented in MC.

It all comes down to people. I would talk to the students and alums and see who do you like best.

Personally, I would disagree with Chicago's nerdy stereotype. U of C undergrad - yes, the dorkiest school ever, but business school is a completely different animal.

 

I endorse both pr0ficient and Rumata in their comments (and sent the OP a PM earlier).

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.
 

Agree with rumata. Booth is not that dorky at all. The students i know there are pretty outgoing and love to party. The girls are unattractive, but you're in Chicago, which is loaded with hotties.

Wharton is definitely better for private equity, but for banking, trading, hedge funds, and investment management, there isn't a noticeable difference. Socially I think wharton has a better scene than booth, and the girls are definitely hotter. Plus you get access to penn undergrads, nursing, and law chicks.

 
Brady4MVP:
Socially I think wharton has a better scene than booth, and the girls are definitely hotter. Plus you get access to penn undergrads, nursing, and law chicks.

You must not get out much if you think UPenn is the holy grail of partying/girls

 
CatsLHP:
Brady4MVP:
Socially I think wharton has a better scene than booth, and the girls are definitely hotter. Plus you get access to penn undergrads, nursing, and law chicks.

You must not get out much if you think UPenn is the holy grail of partying/girls

Penn undergrads = 18-22. You = 30+. Why would you want to date someone so MUCH younger than you?

 

Wharton is #5 in US News, Businessweek, and most other MBA rankings; Chicago, Northwestern, and Harvard have consistently been #1,2,&3 over the past 10 years. This isn't all that new. Wharton is strong for finance, but Chicago trumps it overall.

Bear in mind that Chicago is a different culture than many east coast schools. It's definitely an intellectual atmosphere, but folks are a little more quiet and arguably less pretentious by Midwestern standards. If you want a feeling like H/Y/P or even Penn, you really want Wharton or Harvard; perhaps Stanford. Booth is actually a little easier to get into than Wharton by the selectivity numbers, but some of it is self-selecting based on the difficulty of the program and the training is really high quailty.

Sounds like someone got into Booth. Congrats man. Study hard, remember that PBR and Leinenkugel's are perfectly acceptable substitutes to mixed drinks when hanging out with classmates, and take your friends where you can get them- they're all going to be pretty smart.

 
IlliniProgrammer:
Wharton is #5 in US News, Businessweek, and most other MBA rankings; Chicago, Northwestern, and Harvard have consistently been #1,2,&3 over the past 10 years. This isn't all that new. Wharton is strong for finance, but Chicago trumps it overall.

Bear in mind that Chicago is a different culture than many east coast schools. It's definitely an intellectual atmosphere, but folks are a little more quiet and arguably less pretentious by Midwestern standards. If you want a feeling like H/Y/P or even Penn, you really want Wharton or Harvard; perhaps Stanford. Booth is actually a little easier to get into than Wharton by the selectivity numbers, but some of it is self-selecting based on the difficulty of the program and the training is really high quailty.

Sounds like someone got into Booth. Congrats man. Study hard, remember that PBR and Leinenkugel's are perfectly acceptable substitutes to mixed drinks when hanging out with classmates, and take your friends where you can get them- they're all going to be pretty smart.

dont know what rankings you are looking at - harvard/stanford are always 1/2.

 
IlliniProgrammer:
Wharton is #5 in US News, Businessweek, and most other MBA rankings; Chicago, Northwestern, and Harvard have consistently been #1,2,&3 over the past 10 years. This isn't all that new. Wharton is strong for finance, but Chicago trumps it overall.

Bear in mind that Chicago is a different culture than many east coast schools. It's definitely an intellectual atmosphere, but folks are a little more quiet and arguably less pretentious by Midwestern standards. If you want a feeling like H/Y/P or even Penn, you really want Wharton or Harvard; perhaps Stanford. Booth is actually a little easier to get into than Wharton by the selectivity numbers, but some of it is self-selecting based on the difficulty of the program and the training is really high quailty.

Sounds like someone got into Booth. Congrats man. Study hard, remember that PBR and Leinenkugel's are perfectly acceptable substitutes to mixed drinks when hanging out with classmates, and take your friends where you can get them- they're all going to be pretty smart.

Nobody, including you, actually believes these rankings. Some of them put Booth over HSW, others put Stanford at 7th, right very reliable.

To answer the OP's question, Booth is a terrific school, but HSW is here to stay. Booth is a superb school though and you should be proud you are going there, if you are.

 

Booth sounds more American then Wharton imo. My younger brother has the stats and credentials for any IVY he wants and yet he still wants to go to Booth over Wharton for business. That speaks volumes to me.

 

Does it really matter? Booth has been known as a finance mecca for a long time but at the end of the day the recruiting opps at Wharton and Booth are very similar (not accounting for geographic preference of the graduates).

The acceptance rate at Chicago is too high and I know too many idiots that got in to think that the quality of the student body is as good as HSW but again its all a crap shoot and luck and adcomms wanting to build diverse classes plays a big part.

 
ModusOperandi:
Feel free to tell me I'm an idiot... but why would you go to an american mba program when you could go to one in europe? its usually less than a year and ends up being way cheaper overall (after you lose some to exchange rates)

In that case, would you rather go to LBS or INSEAD?

-MBP
 

A lot of people feel that Booth has trumped wharton for a number of years, and the rest of the field is just now starting to realize that they have been out gamed. Not only was Chicago Booth faster out of the downturn (amazingly high employment stats all the way through), but if you look at the folks who have been nailed for insider trading or other issues buy the SEC or DoJ during the downturn, a good number of them had wharton attached to their names and none have dragged Chicago Booth through the mud.

Over the last decade Chicago Booth has been displacing a lot of its peers alumni in the CEO suite on wall street, at the Fed and Treasury. I think that some of this was fueled by wharton grads rush to PE, which has now become a shrinking industry. While other schools rushed to "hot" areas like hedge funds and PE, Chicago Booth quietly continued to produce an army of bankers with strong quant skills. Each year CS, MS, GS, and JPM have each been snapping up 12-18 grads and have made Chicago Booth grads the largest block in each incoming associate class. It is simply a numbers game, if you replace 5% of a population each year, it does not take that long until the entire system begins to shift.

A huge chunk of folks from other schools tried to ride a PE wave that has shrunk, and now their schools have fewer spots in the mid-level at some of the larger IB shops. Sure, wharton will always be a great school, but any networking edge that it created during the 80s has evaporated. It is not a fluke that of GS's last 4 CEOs, two have been Chicago Booth grads, one has been HBS and one HLS. I do not think that wharton has a grad in a wall street CEO role anymore at all, but I might be wrong.

 
NavyMonkey:
A lot of people feel that Booth has trumped wharton for a number of years, and the rest of the field is just now starting to realize that they have been out gamed. Not only was Chicago Booth faster out of the downturn (amazingly high employment stats all the way through), but if you look at the folks who have been nailed for insider trading or other issues buy the SEC or DoJ during the downturn, a good number of them had wharton attached to their names and none have dragged Chicago Booth through the mud.

Over the last decade Chicago Booth has been displacing a lot of its peers alumni in the CEO suite on wall street, at the Fed and Treasury. I think that some of this was fueled by wharton grads rush to PE, which has now become a shrinking industry. While other schools rushed to "hot" areas like hedge funds and PE, Chicago Booth quietly continued to produce an army of bankers with strong quant skills. Each year CS, MS, GS, and JPM have each been snapping up 12-18 grads and have made Chicago Booth grads the largest block in each incoming associate class. It is simply a numbers game, if you replace 5% of a population each year, it does not take that long until the entire system begins to shift.

A huge chunk of folks from other schools tried to ride a PE wave that has shrunk, and now their schools have fewer spots in the mid-level at some of the larger IB shops. Sure, wharton will always be a great school, but any networking edge that it created during the 80s has evaporated. It is not a fluke that of GS's last 4 CEOs, two have been Chicago Booth grads, one has been HBS and one HLS. I do not think that wharton has a grad in a wall street CEO role anymore at all, but I might be wrong.

I am not going to mention Stanford of HBS because they are in a class of branding that despite not being geared for it, you can get a banking job easily from the school.

When it comes to schools that are geared to cranking out sell-side IBD associates, Booth, Wharton, and Columbia have no advantage over one another. It is that simple. They wil all get you the same interview and the same reverance of prestige--and after that it is all on you.

If you want to say Booth gives a better education, than I won't argue with that. I will say though that getting an education is not usually the first priority for people wanting an MBA or changing careers into banking. You don't need a PhD-level education in economic or financial acdemic theory or amazing numerical quant skills to be an investment banker. If you want to go work for Citadel or SAC, then Booth will probably give you a better chance at that. If you want to be a Value Investor however, Columbia's Heilbrunn Center for Graham & Dodd Investing is the winner.

Kellogg & MIT are also top programs with equal prestige but Kellogg is more geared toward marketing and MIT is more about producing consultants and managers. You can still get a banking gig, but the network is smaller.

Talking about Booth "taking over" Wharton and trying to rank one over the other is pointless, and it is an exercise in futility. You go where you fit, and where you enjoy yourself more. No school, be it Wharton, Booth, or Columbia, will produce any more opportunity for you than the other when it comes to sell-side plain vanilla investment banking. For PE, Wharton will probably give you a slight advantage--but you still need pre-MBA experience for that to matter.

Ok I'm done.

 
Military_MBA_Banker:
I am not going to mention Stanford of HBS because they are in a class of branding that despite not being geared for it, you can get a banking job easily from the school.

When it comes to schools that are geared to cranking out sell-side IBD associates, Booth, Wharton, and Columbia have no advantage over one another. It is that simple. They wil all get you the same interview and the same reverance of prestige--and after that it is all on you.

If you want to say Booth gives a better education, than I won't argue with that. I will say though that getting an education is not usually the first priority for people wanting an MBA or changing careers into banking. You don't need a PhD-level education in economic or financial acdemic theory or amazing numerical quant skills to be an investment banker. If you want to go work for Citadel or SAC, then Booth will probably give you a better chance at that. If you want to be a Value Investor however, Columbia's Heilbrunn Center for Graham & Dodd Investing is the winner.

Kellogg & MIT are also top programs with equal prestige but Kellogg is more geared toward marketing and MIT is more about producing consultants and managers. You can still get a banking gig, but the network is smaller.

Talking about Booth "taking over" Wharton and trying to rank one over the other is pointless, and it is an exercise in futility. You go where you fit, and where you enjoy yourself more. No school, be it Wharton, Booth, or Columbia, will produce any more opportunity for you than the other when it comes to sell-side plain vanilla investment banking. For PE, Wharton will probably give you a slight advantage--but you still need pre-MBA experience for that to matter.

Ok I'm done.

I think this is an excellent comment that does not dredge up every little miniscule detail about stats, placement, rankings, or endowment. I would even add that if you want a sell-side IB job opportunity, if you're a strong cadidate from a "local" school like UCLA, Ross, Texas, and UNC you could be just as competitive for near by offices.

 

Wharton and Chicago both have their strengths.

Wharton is better for finance and Chicago is better for more quantitative and more generalist stuff.

Your career interests seem to be at the intersection of these two. I don't think there is a clear winner here, and I think Chicago and Wharton are running neck and neck for your situation.

One thing you may want to think about is where you want to end up after graduation- do you want to be in the Midwest or the East Coast?

Relax; this is a high quality problem.

 

As a current MBA student, I'd have to say Wharton. Agree it doesn't matter all that much if the goal is banking, although location could still play a role. For PE, I'd give the advantage to Wharton.

Overall, Wharton simply has a stronger name -- if that's important to you, then I'd give the edge to Wharton. More people from large funds go to Wharton. More of the large PE firms recruit at Wharton. I'd recommend asking to take a look at the job boards at each school. Right now is the heart of recruiting season, so you should get a good idea of what opportunities would be available to you.

Good luck with your decision. I know it's cliche, but you really can't go wrong either way.

 

Definitely a high quality problem to have. If I were you (and I sort of am, with a different set of goals and a different set of schools), I would do some power-networking with people in finance recruiting right now. Try to find people that are going both traditional and non-traditional routes, and pick their brains. Do your best to have them put you in touch with someone that they think may be more knowledgeable/experienced with your goals. Every data point helps to clarify when it's such a close call.

My goals are much more straightforward than yours, but with a few nuances. From doing what I said above, I've gotten a bunch closer to figuring out what might be better for me on a recruiting level. Other than that, and with the relative equality between my choices, it really does come down too where you want to be more, which is also a question that seems easier to answer than it really is.

Good luck, and no wrong choices here.

 

Go with Booth.

You have your partner in the Midwest. Do something for life rather than prestige.

- Bulls make money. Bears make money. Pigs get slaughtered. - The harder you work, the luckier you become. - I believe in the "Golden Rule": the man with the gold rules.
 

I'll echo the sentiments above ... it sounds like your gut is telling you to go to Booth. As someone who has done long distance before I can tell you it sucks and that the difference between "driving distance" and "flying distance" is absolutely huge. On top of all that, I have "a friend" who was placed on the waitlist at Wharton that would very much like to get off. Thanks.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

If your relationship is important enough to you, go to Booth. Yes, I'm sure most people will say Wharton is arguably the better school overall, but that's besides the point really. Put it this way, even if the decision was Booth vs. Stanford/Harvard, it would still come down to how much you value your relationship (i.e. yes, job opportunities may be more dynamic at H/S, but it's not like you're getting shitty jobs out of Booth).

Alex Chu www.mbaapply.com
 

This is kinda like arguing MS M&A vs GS TMT imho. They're both amazing schools and if you perform well at either of them you will have great exit ops. It sounds like you'll have a better time at Booth, though, taking SO and your liking the city into account.

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

Personally I feel that the Wharton brand has been ingrained in domestic and global culture as the top finance program. Booth isn't recognized as such, especially on a global level. You should choose what you would regret the least. But by the end of the day those are both great schools.

P.S. I also have "a friend" waitlisted at Wharton and would love to get off that waitlist. This friend is currently choosing between Booth and Columbia.

 

Congrats. Either school will give you roughly the exact same exit ops for MBB or BB NYC as both are phenomenal programs. Some might disagree with me here, but the network that you're referring to will be immaterial for recruiting at this point in your career. Both schools will have hundreds of alumni at top tier banks and consulting firms and those alumni will come visit the school (both booth and Wharton) for recruiting. So no I personally don't think that it would have an impact on recruiting.

Also, don't worry if you don't have a finance background. I know tons of people who had no finance experience and went into consulting/BB NYC gigs. Recruiters know people are switching careers and they assume that since you're going to a top school that you'll be able to learn it fairly easily.

Keep in mind that those costs you've already paid to booth are sunk and pretty small in the grand scheme of things. I wouldn't let those impact your decision.

 

Congrats! As a current W student, I can echo what mba2014 said. Both schools will get you interviews at MBB and top BBs, after that it's up to you. If you were looking to get in a smaller market, such as hedge funds focused in either city, the school choice might make a difference. Career services doesn't have a huge impact on MBB or BB recruiting, since its run by the companies - in fact MBB first round interviews were run at the firms offices rather than on campus.

Happy to answer further questions via PM.

 

No difference in your case. I know a good number of grads from both schools who've got the exact jobs/careers you're after: both of those schools are well regarded pipelines and the ball will be yours to drop. Go with the one you find yourself wanting to attend more; you'll be alot happier and won't spend too much time focusing on "what ifs". Truth be told, once you get to campus and start making friends and building your network, you "forget" about any other schools that were ever on your list anyway. That's certainly been the case for me.

Congratulations on not being able to make a bad or wrong choice!

 

Will echo what everyone has said. W is often considered to have a superior reputation but I doubt the difference in the quality of the program is significant and you will have no material difference in BB or MBB opportunities. Go w/ whichever school you like more. If you prefer W, don't fret over a few thousand $. But if you like Booth, don't go for W just for th ename.

 

Wow, that's great! You must feel very lucky. Yes, sunk cost, and sorry about the trip if you give it up. Indeed, those are small prices to pay if Wharton is what you really want. One way to look at the decision is to figure out what is the best diversifying experience from what you already have. To take an extreme example, if you had gone to Penn undergrad, I would have to say, forget going to Wharton, you already have the network and the brand on your resume. Same with Chicago. If you are from the midwest, get out of there! Go to Wharton -- enjoy something new. You are right to consider Philly and New York within spitting distance. (Thank you Amtrak!). Again, and vice versa. The more you will be able to broaden your horizons, the more alpha you will get from business school. But then, if you are not from the US or from the west coast (I live in San Francisco and sometimes I feel it's like another planet), then I've got a whole bunch more questions for you.

Fabulous news in any event.

Betsy Massar Come see me at my Q&A thread http://www.wallstreetoasis.com/forums/b-school-qa-w-betsy-massar-of-master-admissions Ask away!
 

As others have said, the recruiting opportunities for consulting and banking will be the same (and very strong) at both schools. My advice would be to find some other aspect of the two programs that you like or are interested in to make your decision... e.g. maybe the Healthcare Management program or New Venture Challenge stands out to you, I don't know.

Once you make a decision just dive in and make the most of your two years. Either place will be good and either place you'll see as the best school ex-post. Congrats!

 

Thanks for all the comments!

It does bother me ever so slightly that Wharton has traditionally been viewed as the more prestigious school (Call me a prestige whore!), but I'm not sure it's enough to dissuade me from Booth at this moment. I've already met so many cool people from admit weekend. In addition, everyone's been telling me Chicago is such an amazing city that I am so excited for it. It's never been on my radar to live in Chicago, but the prospect excites me. Whereas Philly doesn't excite me as much.

 

Yes Wharton is slightly more prestigious but its still not HBS or GSB and if you prefer Booth just go for Booth. There really isn't a big difference. And going to a school you like matters more than prestige/brand name on your resume.

 
MBA2MBB:

...I'm not sure it's enough to dissuade me from Booth at this moment. I've already met so many cool people from admit weekend. In addition, everyone's been telling me Chicago is such an amazing city that I am so excited for it. It's never been on my radar to live in Chicago, but the prospect excites me. Whereas Philly doesn't excite me as much.

Dude, it sounds like your mind is made up and you came here for confirmation that you aren't crazy for passing on a school with a bit more historic prestige. If that's the case, I hope you've found affirmation. The advice above is pretty much all spot-on. Go with your gut. You won't find many objective markers that either school is "better," and certainly none that will outweigh the qualitative factors.

Good luck with whatever you choose. Once you get sorted out, if you want some insight on consulting recruiting at Booth, shoot me a PM.

 

If you do care about reputation / brand on your resume for the rest of your career, then it's pretty clear you should take Wharton. If your only goal is to get into Consulting / IB, then it doesn't matter. Either way you'll end up where you want to be, just saying that if you care about your "brand" then the Wharton name is superior.

 

They are both top schools. You will have equal opportunities at both schools to get into BB or MBB based on the people I know at both schools. There may be fewer kids at Booth looking to go out to NYC than at Wharton which could give you a better shot at the firms that recruit who probably still want a mix of Booth and Wharton grads. I would just make a decision based on fit especially if you give weight to the relationships that you will generate in school. Wharton may have more old prestige but Booth has been quite a fast riser over the past few years and seems to have solidified itself near the top (maybe not H/S but certainly when compared to Wharton in my opinion).

 
Gunga Galoonga Looper:

They are both top schools. You will have equal opportunities at both schools to get into BB or MBB based on the people I know at both schools. There may be fewer kids at Booth looking to go out to NYC than at Wharton which could give you a better shot at the firms that recruit who probably still want a mix of Booth and Wharton grads. I would just make a decision based on fit especially if you give weight to the relationships that you will generate in school. Wharton may have more old prestige but Booth has been quite a fast riser over the past few years and seems to have solidified itself near the top (maybe not H/S but certainly when compared to Wharton in my opinion).

I have nothing to add to this conversation, but saw the username and had to automatically +1

 

It's been said a million times above, but I'll repeat that you should not consider school placement in the decision. Either will give you the same exact outcomes.

I'll make a plug for the city of Chicago: I absolutely love it after having lived in a whole bunch of different U.S. cities. It really is a different experience living in the heart of a big city surrounded by 600 classmates. I'm not from the midwest but the idea of midwestern charm and more relaxed attitude can certainly be felt in both the city and the school.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 
CompBanker:

It's been said a million times above, but I'll repeat that you should not consider school placement in the decision. Either will give you the same exact outcomes.

I'll make a plug for the city of Chicago: I absolutely love it after having lived in a whole bunch of different U.S. cities. It really is a different experience living in the heart of a big city surrounded by 600 classmates. I'm not from the midwest but the idea of midwestern charm and more relaxed attitude can certainly be felt in both the city and the school.

What would you say to someone concerned about crime/safety in Chicago?

 
Best Response
snakeoil:
CompBanker:

It's been said a million times above, but I'll repeat that you should not consider school placement in the decision. Either will give you the same exact outcomes.

I'll make a plug for the city of Chicago: I absolutely love it after having lived in a whole bunch of different U.S. cities. It really is a different experience living in the heart of a big city surrounded by 600 classmates. I'm not from the midwest but the idea of midwestern charm and more relaxed attitude can certainly be felt in both the city and the school.

What would you say to someone concerned about crime/safety in Chicago?

It really isn't an issue where most of the students live (downtown). The crime in Chicago seems to be in the outskirts of the city (particularly south and southwest). I've walked home alone through the city drunk at 2am plenty of times. The campus itself is in Hyde Park, which isn't a great area. However, the school employs one of the largest private police forces in the country to stand on every corner between the business school and the train station (which is just a 6 minute walk away). On top of this, classes all end by 4:30pm (night classes are held downtown) so there is very little reason to be in Hyde Park past late afternoon. I'm not aware of a single classmate of mine who has been robbed or even threatened anywhere in Chicago (sample size 600 people over the course of one year).

So yes, Chicago has a lot of crime, but it doesn't really impact Booth students materially.

Caveat: if you go looking for it, you will find it, so don't be an idiot.

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Also, I could be wrong, but I heard that crime in Philly surrounding the UPenn campus is a very serious issue as well. I'm not sure either school wins in this particular category.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

(Almost) funny story: I was visiting a friend at Columbia (goes to grad school there) and somehow the 1 Train was not working and I ended up getting a few blocks to the east because I took the 2 Train.

When I got out of the station, I looked around and decided I did not want to get shot or robbed that day and went back into the station. So I guess, without proper knowledge every city can be dangerous.

 

Wharton is heavily recruited. But so is Booth which is also in Chicago, don't underestimate how valuable it is to be one cab ride away from meeting with a contact.

I'm biased, but Chicago is an awesome city.

 

I used to live in Chicago and a lot of my friends went to Booth. Some of my friends look at Wharton as a better program in terms of prestige only and access to recruiting. If you put MBB and BB investment banks aside, you have much greater chances to work at a PE/VC out of Wharton with an unconventional background. I would say screw the deposit and go to Wharton. $5,000 is insignificant at this point.

 

I have never really considered PE/VC as an option for me since I come from a non-profit background. I hear it's super difficult to break into PE/VC. A HBS grad of mine told me he went through the whole PE recruiting process, but didn't get an offer anywhere.

 

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