NYU M.S. Real Estate vs. IE Business School Global (Online) MBA vs. Babson Two-Year MBA

I've thought about going to business school or pursuing a graduate degree for some time and can choose from one of these three programs. My goal is to start my own business, work for a startup or expand my family's business. While I have an interest in real estate, I'm kind of on the fence about the NYU M.S. in Real Estate mainly because I have a friend who just completed the program and works for one of the Big 4 in a real estate transaction advisory role and does not like the work. He also works a ton of hours but his base salary is quite low with minimal bonus. I'm concerned about the student quality because the program does not require GMAT or GRE scores and has an acceptance rate of 79%.

I'm drawn to the IE Business School Global MBA primarily due to its strong reputation (highly ranked by various publications such as Forbes, Financial Times, Businessweek, WSJ etc. with the #1 Online MBA Program according to Financial Times) focus on entrepreneurship, the fact I can do it online and stay in NYC, shorter time frame (15 months vs. 21 months for a typical two year U.S. MBA) and academically strong along with diverse student body (average GPA of 3.5 and average gmat score of 680) with students from 20 different countries

I know Babson is the #1 school for entrepreneurship but I'm a little worried by the lower admissions standards (3.2 average GPA and 630 average GMAT score with a acceptance rate over 50%) and small-town location that might be near Boston but still requires a car and commuting to campus.

I have worked in my family's successful business ($20MM in revenue/year) and have $200K in cash saved up to use for various investments and I do not want to work for a big corporate company.

I would like some feedback/comments. Thanks for your help!

 

If your family business is real estate related, I would actually consider NYU quit strongly. I studied at NYU Stern for 1 semester and got to know some of the real estate people (I am interested in real estate myself). While it is true that they are not (on average) as "smart" and driven as the regular MBA´s, but the stuff you learn seems to be pretty useful and you are in NY. I would not do an online MBA... If Babson is not for you, I would consider applying for other MBA´s as you do not seem too excited about Babson...

 

Although real estate is not our main line of business (we are mainly a supplier to industrial manufacturers), it is becoming an increasingly important part of our company as we are leasing warehouse space quite aggressively to tenants from various industries. The rental income is roughly $3MM per year. I personally would like to expand our real estate portfolio to include investing in different asset classes such as retail, office etc. I guess it's important for me to overlook the admissions statistics and focus more on the curriculum content.

 
Best Response

I just didn't like Columbia when I visited and after speaking with friends who are in the program it only reinforced my initial impression. I'm not looking for a typical MBA program with the "sense of community" or "lifelong friendships" that is important to so many people (I have a great set of friends already in NYC). Although Columbia might align well with that non-traditional environment compared to some other top schools, I felt Columbia was overwhelmingly focused on finance and while the administration has attempted to make the school more entrepreneurial-oriented, I still think a lot of work needs to be done. With $200K in cash saved, I would much rather use some of that money to start or invest in something than go back to obtain a degree that I'm not sure would be very beneficial for me and costs $130K. You clearly don't need an MBA to start a successful company and I have no desire to work for a massive investment bank (already did that), consulting firm etc.

I really don't want to leave New York since I grew up in the area, our business interests are not far away in the northeast region and I have a wonderful social circle in the city with friends who are graduates of some of the best schools and going places in finance, technology, startups, real estate, academia etc. It would be perfect if NYU Stern and Columbia were more entrepreneurially-focused but with their locations I can't blame the administration for targeting Wall Street firms and thereby attracting students who want to work at those firms.

 

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