Non-H/S/W worth it?
I did IBD and work on the buyside in equity AM. I'm thinking about MBA and am applying to a handful of schools: H/S/W, UChicago and something else. I know quite a few people with similar backgrounds that only apply for H/S/W and are no-go with anything else. Assuming H/S/W doesn't work out, how do you guys think about other top b-school?
This isn't going to be an economic decision for me (I don't make HF money) and I'll probably be leaving finance to pursue something else. If I do go back to finance it'll probably be in a different space (e.g. private or special sits). My main interest in school is for building a network. Mine is very narrow right now and is mostly made up of finance people and I can see that broadening my network makes sense for the next 20+ years.
At this point, H/S are in their own tier (W is no longer in the same tier) and some finance people are H/S or bust. I only think that makes sense if your 100% set on MF PE recruiting as the opportunities tend to be concentrated at H/S. Given you are looking to leave finance, I think extending from H/S to some selection of H/S/W/Booth/CBS/Sloan/Kellogg/Haas depending on your goals still makes sense.
Why is W no longer in the same tier as H/S?
Honestly it will come down to where you think you might want to exit. The MBA business schools">M7 schools place similarly for consulting roles and they all place well in tech; there's little difference between H/S and the other schools on those fronts. PE is the differentiator, and you don't sound interested there.
For corporates, you can recruit anywhere from any MBA business schools">M7, but the OCR representation is different. It's not necessarily geographically based, so I'd look instead at who the OCR firms are at each school if you're looking at corporates. I went to Booth and emphatically believe they are now on par with Wharton; the average P&Q rankings over the last few years affirm this. There are clear trends in the aggregate rankings; it's H/S>B/W>KMC, if you care about that.
The biggest differentiator is in the coursework and structure of the programs themselves. Cohort vs Non-Cohort (which can translate to less flexible to more flexible), grade disclosure vs non-disclosure are huge lifestyle differentatiators. Put some thought into this. I personally loved being able to take challenging finance courses at Booth that drew on my prior experience, rather than having to take 101 level classes. Even though I wasn't targeting finance roles, it led to a very enriching academic experience that taught me how to not only use data to make decisions, but how to combine quantitative logic with my own business intuition. It has served me well post grad.
Good thoughts. I've been kicking around with a what-if scenario of: I only get into one non-H/S school and I have decide whether to go or not. If I don't go then I'll forgo b-school forever. I've been blinded by a few H/S grads I work amongst to think that only H/S are worth it and the outside perspective is helpful.
PE isn't a main goal although it's not completely off the slate. My chances for PE are likely limited as I've been in public markets for a while.
I've been eyeing Booth and I'm not informed on how they've been able to rise up in the ranks like they have but it's on my list. More research needed.
I was in the exact same position as you last year. Had only ever worked with H/W people in my prior life but decided to apply to 5 schools (H/W/Booth/Kellogg/MIT) as I was trying to get out of finance and broaden my exposure to industries/roles. I think once you get out of H/S, as mentioned earlier, rankings don't really matter within the MBA business schools">M7. I'd focus more on the student body at each school and what they are good at / if that aligns with your goals and purpose of being in school.
Good thoughts, thread, and answers. I'm in a similar position as OP. I think you need to apply and see what happens. If you're on the cusp for H/S and don't get it, chances are that you can get some $$ from some of the remaining MBA business schools">M7 options.
I’ll echo some of the thoughts above. Non-H/S is definitely worth it. The precise value that you gain from business school will depend on your profile going in and how you utilize your skills in school. That said, I don’t think there are many people out there in which a school such as Booth or Kellogg would actually be deterimental to your profile.
As a Booth alum from a few years back, I’ve tapped into my MBA network very heavily since graduating. The same is true of my colleagues who went to other top schools outside of H/S.
Interestingly enough, the majority of the people I work with are HBS alumni. They are the ones who are LEAST likely to use their networks in day-to-day interactions at my PE shop. I suspect it is because there are so many of them in the industry that the connection is simply not unique. The HBS branding instead serves a different purpose — it is a signal of capability rather than a discussion point. Still incredibly valuable, just in a very different way. Note: everyone’s experiences are unique and my sample set is relatively small, so take it for what it is worth.
Definitely not a step back to go non-HSW. Just hard for me to know the reality when you only interact at work with people from a handful of schools. H/S do a lot of marketing and info sessions where they go to all the big cities on both coasts. I checked recently and for Booth you have to be in Chicago or do it virtually to go to a session. This board also makes you want to chase prestige. I keep telling myself that a truly successful person will do well regardless of what school they go to.
I was originally only thinking HSW as well, but I've been looking at the ROI on programs outside of those and if you do your research you might find that depending on your career it could make sense to try for a program outside of HSW. Many of the top recruiters are going to appear at a bunch of top 20 programs. Also, the chances of getting a scholarship could increase for you if you open up your options outside of those 3 programs.
At the end of the day, it does depend on what you want to do / your career. Personally, now that I've been doing my research I do think it's worth adding a few top 20s to the mix.
I think this really depends on your goals as there is a substantial drop in opportunities and student quality when going from MBA business schools">M7/T9 to Top 20 programs. In certain situations, I could see the logic for choosing a Top 20 at close to full ride over full fare for MBA business schools">M7 and in my opinion choosing a non H/S/W MBA business schools">M7 with a sizable scholarship over Wharton is a no-brainer.
If you go into your MBA applications saying that you just want an MBA for the 'network' you are likely to come up short with H/S/W and probably most of the MBA business schools">M7 schools. Possibly even the T15.
Instead, think about what you are passionate about? You mention you see yourself leaving finance. What interests you? What impact do you see yourself making in 15-20 years? What might that dream job look like?
Once you know the answers to those questions, you can reverse engineer what skills, knowledge and relationships (not just 'network' - adcom doesn't love when applicants use the 'n' word) you need to get there. Do you need more exposure to other business functions so you can take on a more general management role? Do you need to develop entrepreneurial skills? Hone your leadership and soft skills so you can engage with business people beyond finance?
If you can't articulate 'what matters most' and show that you have a vision for changing the world, you're unlikely to find yourself at the GSB. HBS and Wharton are looking for similar backgrounds and goals but through different lenses.
It is quite likely that many schools offer the resources that will get you from where you are today to where you want to be in the future. I encourage you to do explore your aspirations so you can figure out which schools/programs those might be.
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