UCLA Anderson with $50k vs. NYU Stern with $0 for a management consulting focused international student

TL;DR: International student with investment banking background switching to management consulting choosing between UCLA Anderson with $50,000 fellowship and NYU Stern with $0 scholarship.

Hi there,

Right now, I’m choosing between Anderson with $50,000 fellowship and Stern with no scholarship and would greatly appreciate input form you guys and any advice or own experience you could share. I’m especially interested in the perspective of international students who stayed on in the US after their MBA.

My background: 28 years old, born and raised in Eastern Europe, CFA Charterholder, 4+ years as an investment banker at a local IB shop (mostly DCM and M&A), 2+ years before that as an auditor at Big 4. BBA from local university.

MBA situation: 720 at GMAT, planned major/concentration: finance and entrepreneurship.

Post-MBA plans: join MBB and stay in the US for 4+ years, then go back to the old country as a senior executive. Fallback plan: corporate finance.

Student loan: will have to take out a student loan to cover 100% of costs. I’m very sensitive to taking on too much debt. Minimizing the loan size and maximizing US visa/job chances is a priority.

Here is my analysis so far:

Financing: over two years Stern costs c. $20,000 more in tuition alone compared to Anderson. Add $50,000 fellowship to that and Stern will cost me at least $70,000 more. So, Anderson is clear winner here.

Career prospects: Stern is located right next to Wall Street and is a top MBB recruitment target. Anderson is not as well known and while some students go to MBB, more go to Big 4 and other ships.

Visa: Stern’s MBA has a STEM designation which means that on top of one year working right afforded to every F1 visa-holder I can also apply for Optional Practical Training program and get two more years of work in the US. UCLA Anderson does not have this designation yet, but they say its all but assured that the class of 2022 will graduate with this designation. This is pretty huge for me as H1B visas are getting a lot harder to obtain nowadays. However, I’m not sure if MBB jobs qualify as STEM or what kind of jobs would – need to do more research on this.

Location: living costs are probably comparable - housing seems more expensive in NY, but I’ll have to get a car in LA. I’m ambivalent on this one.

Any point I’m missing or got wrong? How would you guys choose in my place?