Kellogg with money vs Wharton
Hi all - looking for advice. Was fortunate to be admitted to two programs. Kellogg with 100k in scholarship and Wharton with no money. I want to do MBB post MBA and both feed similarly. Is the Wharton prestige worth no money? Could you please advise which you recommend? Thanks!
I'd probably take Kellogg if you know you want to do management consulting. However, if you want to work in the NY office, it would likely be easier coming from Wharton (likewise with Chicago and Kellogg)
Don't care about working in New York. In fact would prefer not to be in NYC. Spent four years there and want something new and to get away from finance. Looking at management or consulting. Am curious if Wharton is worth ignoring the 100k. Kellogg is a top program too.
I'd say it isn't worth ignoring the 100k. I can really only see the argument of H/S being worth it, especially if you know you want to do MC and don't want NY.
Lifetime earnings difference between these two schools, on average, is only about 300k. Since you want the same job out of both, and can get it out of both, I'd say that 100k and Kellogg is worth it. With even modest assumptions it will more than make up the difference.
Go Kellogg. Unless for whatever reason you personally want the satisfaction of attending a marginally better school. I don't think there's anything wrong with that. If it will give you a mental edge in your career, go with Wharton. Plus, Wharton will provide more options, which you come to need once you get in.
Wharton is absolutely as good as it gets
^ this kid's in high school, and he's already an expert on MBA programs. That's impressive guys.
I go to a peer school and in your circumstances, I would go with Kellogg. Business school is an expensive proposition and the ROI on a full price tag is really not there, in my opinion (disclosure: I also got a heavy scholarship and I still found b-school expensive; I can't imagine paying the full price tag). If you were going for private equity I would say you need to take Wharton despite the price tag, but for consulting there is zero difference (especially since you got into two great schools, one with an insane scholarship - CONGRATS), and $100k in after-tax savings is a massive deal.
Thanks yea I worked as an fx trader at a top bank for years and just do not want to do finance anymore. It has lost its luster to me and I currently have no desire to do PE at all. (Furthermore given my Prior work history It would also be nearly impossible as I do not have a banking background). As for money, I have enough to pay for business school and maintain a lifestyle and graduate with 100k leftover. So money isn't an issue paying for school. However if I had the choice, is rather not pay for something I can get for free. Plus MBB all recruit somewhat equally at M7 schools. I am also looking management programs as well. I'm not sure what additional edge Wharton would give me.but always happy to hear peoples insights.
Hi, I am interested to know how this 100K was awarded to you? Was it provided to you via their admission email? Or did you have to apply separately?
Your chances of landing MBB from Wharton will be no better than from Kellogg. Take the money and run. Also, ignore the BS from people who say recruiting for NYC from CBS would be easier. Kellogg (and other M7 schools) are not geographically limited in the offices which you can recruit for.
Would any M7 school with a scholarship be better than H/S/W with no money?
Absolutely take Kellogg. It'll be way more fun than Wharton too, since you get away from all the soulless finance people. I got into a few different places, and I went out for drinks and such in NYC with all the schools - Kellogg by far had the best people. Several people took Kellogg over Wharton with no money, so with $100k, I think it's easy choice.
Thanks for replies. Thought about it more and leaning Kellogg. I don't care about saying I went to Wharton. And I went to an ivy undergrad. End of the day both feed into MBB.
If you are already comfortable with your current level of brand prestige, you're through with finance, you want consulting, you want to have a good time, and you're an arbitrageur by nature and trade, then.... this one is pretty obvious. The reasons to go to Wharton over Kellogg just don't really apply to you.
Thanks- does Wharton or any school for that matter match offers from other schools? I haven't asked yet as I don't know if it would just be jn vain.
I'd think much more carefully about this. Kellogg might fit better into what you do now, but think of the possibility that you'd like to change your career in the near/mid future and how this decision will impact that situation.
Kellogg is a top 5 school, it's not like he's choosing to go to regional school....
No ones cares 10 yrs into your career or five years where u went to school. It's how you perform once you get the job.
As someone in bschool, if you want to do consulting, Wharton will probably not help you out any more than Kellogg. I would tell Wharton about your Kellogg scholarship money though. I would bet they will not match 100%, but will give you 25-50% of whatever Kellogg is giving you. There is also no harm in asking, they've already admitted you and that won't change.
Good advice- yea doubt they will match. I heard Wharton is quite cheap with fellowships.
Whether one thinks Wharton is better than Kellogg or not, the fact is the difference in overall reputation (if any) and career opportunities is small enough compared to the money.
Take the money and go to Kellogg. Whether a $100K is a lot in the long-term is not really the issue here. $100K is a LOT of money in the short-term, and having a smaller debt load coming out of b-school in your first few years out can make a world of difference. Simply put, post-MBA it frees up your ability financially to put a down payment on a home/condo/whatever earlier and/or with more wiggle room, as well as other expenses you may incur (engagement ring, wedding expenses, child care/baby stuff, etc.). Even if this kind of life seems like an eternity away and it may not happen within the first 5 years for you post-MBA, you at least have that option or flexibility (with less financial stress), which may mean a lot more than the difference between on top school and the next.
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