MBA for HF/Asset Management: Kellogg or Tuck? Decision Time
I applied and was admitted to a few MBA programs for the fall, only seriously considering two: Northwestern Kellogg and Dartmouth Tuck. Tuck has offered a significant scholarship (~66% tuition), while Kellogg has offered $0.
I am aware that neither Kellogg nor Tuck are "finance" schools. I didn't apply to "finance" schools, wanted to try something a bit different given I don't NEED an MBA. For me, getting an MBA is all about: 1) adding "prestige" to my resume, 2) expanding my network, 3) taking my foot off the pedal for 2 years. While important, cost is not a crucial factor for me.
Currently, I am an associate at PE-style investment firm, previously did 2 years in consumer MM IB in the East Coast. We do mostly MM consumer/healthcare buyouts but also have a small ~$100M concentrated public equity portfolio.
My near-term goal is to work for a L/S fund for an summer internship and for 2-3 years post MBA, ultimately transitioning to a long-only after that. Long-only is my plan B if HF doesn't happen. Post-MBA, I am open to NYC and Chicago but would prefer to move away from the city for 4-5 years. Also open to Dallas, LA, SF.
My questions for you all are:
- For HF, does one school have a significant advantage over another? Both aren't traditional finance schools but I have noticed more summer interns / post-MBA associates and analysts coming out of Kellogg versus Tuck.
- Same question as above, but for long-only / asset management
- Given the difference in attending schools (~$100k), is the Kellogg brand, reputation, and ranking advantage worth the additional cost?
- If I decide to leave finance or there is a major downturn in the market rendering positions like the one I plan on pursuing obsolete, is a Kellogg MBA worth more than a Tuck MBA? If so, is the difference worth the additional cost?
Thank you all in advance. Looking forward to the responses.
Congrats! Both are great schools, but they will be much more challenging to attain your goals versus the finance schools which are by far the biggest feeders into IM. For context, I'm at a large MF where Wharton and Booth grads make up 80%+ of the analysts.
I would say that Kellogg has a slight advantage over Tuck, and if you have any interest in working in Chicago, the advantage becomes significant. HF recruiting is networking driven, so being close to a city is important. At Tuck you would likely have to commute to NYC on a regular basis to network, so your preference for Chicago vs. NYC will be a determining factor.
MF recruiting at both schools will be challenging. Many major MFs go to Chicago to recruit at Booth but bypass Kellogg altogether. Reach out to current students to see which MFs come to campus and what placement has been like in recent years. I would guess that Kellogg will have a slight edge here.
Lastly, I wouldn't overthink the scholarship. HF/AM is a lucrative career and $100K is not a big deal in the grand scheme of things, so you want to position yourself to get the best job possible. Also, if you haven't done so already, definitely let Kellogg know that you received a scholarship from Tuck in case you are able to leverage a scholarship out of Kellogg as well. Good luck!
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