Kellogg vs. Booth - Private Equity 
(Chimp, 4 
Points) on 2/16/10 at 4:00pm
Harvard's admission black box didn't work out for me, but Kellogg and Booth have. I did 2 years in BB IB and 2 Years at a growth equity shop, both with a focus on a sector I am interested in. Post-B-School, I want to go back into PE, hopefully in the Chicago area. I'd be great if I can get people's opinion n which of the two options are "Better" for my goal and any thoughts on the programs themselves. Thanks guys.
Based on my experience in PE,
by junkbondswapBased on my experience in PE, I would strong reco that you attend Booth. The school has a far superior reputation within the finance community and is geared towards your background and future goals. Seems like a no brainer to me and Ive researched b-schools extensively for the past 2 years although Ive yet to apply anywhere. Good luck.
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wow...can't believe u werent
by 7Swow...can't believe u werent able to get into HBS with BB IB and PE
I'm just an undergrad (and at
by AlmqI'm just an undergrad (and at UChicago no less) so of course there is an element of bias involved, but I like to think I have a fairly strong grasp on certain industry dynamics, and I don't really think the decision is that close. Booth has a very strong presence in finance, and having taken classes there I have seen a very strong recruiting presence. Credit Suisse flew in several hundred Uchi grad employees (including the CEO, who is a Booth Grad) to strengthen their recruiting presence. I realize of course that this isn't Private Equity, but I think it's indicative of Booth's reputation in high finance as being in the same general league as HBS, Wharton, etc.
Almq wrote: I realize of
by reallycoolguyI realize of course that this isn't Private Equity, but I think it's indicative of Booth's reputation in high finance as being in the same general league as HBS, Wharton, etc.
False. H/S/W have significantly stronger reputations than Booth in finance, especially private equity. With regards to the OP's question, I was under the impression that Kellogg is more of a general management oriented business school. Booth's program is known to be quite quantitative. Consequently, if the private equity industry isn't simply paying lip-service to the idea of focusing more on operational streamlining within their portcos, it might make sense to go with Kellogg. Please take this with a grain of salt, as it is nearly pure speculation on my part.
Congrats on your acceptances,
by CashCowCongrats on your acceptances, Genuine.
I'm beginning banking myself and looking to also do PE then business school. Could you let me know your gpa and gmat so I have a better idea what is needed to get into b school?
If you take a look at the
by debrwilIf you take a look at the post MBA hire profiles at MDP (arguably biggest PE fund in Chicago) most come from Harvard and Kellogg. It could just be this certain firms allegiance to certain schools. Additionally, it's just a single data point, but one to consider if you want to stay in Chicago.
There are more or less equal
by macroThere are more or less equal numbers of people representing the two schools in Chicago PE, but I hear that Booth gets better recruiting. I would assume this to be due to self-selection (more people interested in PE going to Booth).
Thanks everyone; no clear
by GenuineThanks everyone; no clear answer, but the answers were informative. Kellogg now has a dedicated TRACK for PE and admittedly has a fairly solid alumni base in Chicago at firms such as GTCR and MDP. They also have a fellowship researved for people with previous PE experience with plans to continue in the industry. However, across the board Chicago (Booth) seems to be more widely known for their finance program (seems like mostly IB).
Instead of having me chose, maybe HBS can just interview me and end this the easy way....
Disclaimer: currently at
by IBPEHFVCDisclaimer: currently at Booth, MM PE pre-mba (and there are plenty of other PE pre-MBAs at Booth)
I don't think you can go wrong at either of these schools. My personal opinion is that for PE, your results will be driven more by yourself rather than the marginal difference from Booth or Kellogg. However, there are others of my classmates, who are more focused on PE than I am (I'm looking at public buyside), who strongly feel that Booth is much more powerful than Kellogg. If I were you, I would make an effort to visit the admit weekends and talk to as many folks as possible. Keep an open mind, and I'm guessing you will feel a stronger fit with one of the schools.
Is the sector you focus on
by h.e.pennypackerIs the sector you focus on healthcare? If so, then it's a no-brainer (Kellogg).
I'm hoping to dual Finance (PE track) and Biotech there when the time comes. The biotech concentration looks very interesting.
I know this is a single data
by Virginia Tech 4everI know this is a single data point, but I interviewed for (and was rejected from) a 1st-year analyst role in a RE PE shop in Washington, D.C. in 2007. The primary guy/associate was a Booth graduate.
Coolguy, When I said general
by AlmqCoolguy,
When I said general league I didn't mean equivalent to. I don't believe a Stern MBA, for instance, would be excessively condescending toward a Booth MBA student, although most of my interactions with Stern MBA's have come because there is a seemingly endless swarm of them each year at the US Open, all wearing their Stern shirts, so I could be wrong. Booth has a strong recruiting presence, and as mentioned it is perceived to be more quantitatively oriented.
I'm no expert on this stuff,
by fibowsI'm no expert on this stuff, but let's not split hairs and look at this from a common sense perspective:
Your Goal = Work in PE in Chicago
Both Schools = In Chicago
Both Schools = Send a good amount individuals to PE every year all across the country.
If you're good, getting into PE from either of these places will not be an issue (especially given your experience). At the end of the day your choice should be based on the other factors - how well you liked the students/faculty/campus, cost, extracurriculars offered, etc. - since the fact that one may be ranked by US News & World Report as #3 and the other as #5 will really mean nothing at the end of the day.
You've probably slaved away the past four years working in finance. Go somewhere that you ENJOY.
I agree with fibows, as fit
by jb32I agree with fibows, as fit with the school is more important than anything else. Where would you enjoy yourself more? You'll have opportunities at both. Also, finance reputation matters very, very little for PE. It's more about who you know and what is your background.
As a first-year student at Kellogg with many PE friends at school, 90% of PE recruiting is up to you. It is non-structured and all off-campus. So, the only advantage Booth may have is more alumni to reach out to as a place to start recruiting. Although, I would bet that they really don't have that many more alumns in PE than Kellogg. Anyway, go where you feel most comfortable as the schools do have very different cultures.
Fibows, IBPEHFVC, jb32 all
by numiFibows, IBPEHFVC, jb32 all have it right -- PE is a hard nut to crack anywhere, even if you're at HBS or at Stanford. Most of the time, the people who get these jobs post MBA did PE before business school or had stellar experiences in investment banking.
For what it's worth, I applied to Harvard, Stanford, Wharton and Kellogg in round 1 this year, and am now considering two of those schools (will have to make a decision soon though). My decision not to apply to Booth was because I already have five years of experience in finance, namely bulge-bracket equity research and middle-market private equity, and I was looking to broaden my experiences. Wharton was really the only "finance school" that I looked at, but the fact is they have very good programs in management and marketing as well.
My interest in the general management programs (Harvard, Stanford, and Kellogg) was largely driven by the fact that as a pre-MBA associate in private equity, I felt like I had all the transactional stuff down cold but I really had no idea about what made a potential target company "great" and how we could go about improving it. Sure, one can always say that the company would yield a fantastic IRR if only we could grow sales by X% and flatline R&D at Y% of sales while incrementally increasing sales and marketing expense by Z%...but what does that really mean? How does a company actually do that? And post-MBA, if I decide I want to keep doing PE, how can I possibly sit on the board and advise a portfolio company's management about what to do when I have no experience or education in general management myself?
Basically, it's possible that other people that have worked in private equity are much more comfortable with the operational elements of a company. However, running a business is something I was always tangentially curious about, and I had thought that leaving equity research for private equity would give me more exposure to that area. Indeed, that's true to the extent that I had a lot more access to data vs. when I was on the public investment side, but even so, it was really just more number crunching and analysis, except we could crunch more numbers and analyze more stuff. At the end of the day, I'm quite confident that I will be a smarter businessperson and investor by getting a general management degree. That's certainly no knock on Booth, MIT, Columbia, and the other fantastic schools in the top tier...but those were the reasons for why I decided to apply to the schools I did.
To get back to the original poster's main point, I think Kellogg and Booth are sufficiently close in rankings that you really need to consider (1) which of those programs will best fill the voids in your knowledge, and (2) where you'll enjoy school the most. I knew I'd probably have a good time at any of the schools I applied to. Fit is incredibly important because it will dictate not only how great an experience you'll have at those schools, but also how well you can assimilate and utilize the school's network. You can't go wrong either way, but one choice will probably be more "right" for you than the other. Ultimately, both Booth and Kellogg will create great opportunities for you; the rest of the equation is about how much you're willing to take advantage of those opportunities.
Hope this helps and sorry if this post was a bit long and verbose. Need to run and catch a flight to Australia...got a vacation to take and kangaroos to feed.
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fibows is absolutely right.
by jhoratiofibows is absolutely right. Visit the schools, hang out with students, party with them, imagine yourself living in the neighborhood - where you'd go for entertainment, food, etc. You are well on the track to a career in PE and going to either Kellogg or Booth over the other isn't going to materially affect the outcome for you. Go to the school you like, get in with the other PE guys, get involved and have a great 2 years. Good luck.
I would prefer Evanston area
by M-001I would prefer Evanston area (Kellogg) over Hyde Park area (Booth)...
Also, socially, Booth sucks and females arent 10s at either... All hearsay.
I dont live too far from Evanston,and I really like the downtown area (where Kellogg is located). Nice area, restaurants, shopping etc. Never been to any bars around the area, but im sure there are a few good ones!
Edit: I know this post isnt relevent to your original question and has nothing to do with your goals. But since whatever choice you make will be great for your future goals, I think the area and social aspects of the school will play a much bigger role in your decision.
I agree with MC 002. Since
by Virginia Tech 4everI agree with MC 002. Since both choices are excellent for your future, frankly, Evanston is so much nicer than Hyde Park. If lifestyle is a consideration, it's got to be Evanston.
If you go to Booth, the only
by indenturedprimateIf you go to Booth, the only reason to live in Hyde Park is if you have a family that you want to have close to campus. Over half of the class, and virtually everybody that goes out with any consistency, will live downtown, in Old Town, Lincoln Park, or Lakeview. Proximity to the bars is more important than living close to campus, and the upside of going to school at Booth is that you get to experience living in Chicago with all the free time of a student. You'll eventually have more nights that you go out than days you're going to class on a weekly basis.
not sure the creditability
by wintonheightsnot sure the creditability buts its the only PE ranking that ive stumbled over:
http://www.pedatabase.com/blog/2008/11/top-schools-when-it-comes-to-priv...
note the publishing date AND the summary atop.