Re: Advice Please - Tippie or Kelley
[#permalink]
25 Feb 2008, 16:09
Some fun numbers to play with:
I like to multiply starting salary by placement rate
e.g. $100k with 75% placement rate = $75k
but $80k with 100% placement rate = $80k
Then you take those numbers and figure out how long it would take for the more expensive school to pay itself back.
In your example, (ignoring the placement rate for the moment because I am lazy) the diff is $17k a year, but ~$75k
That means in 4.4 years you will make up the difference (which oddly is within the usual rangefor the number of years it usually takes for the MBA to pay for itself. So, whichever school you went to, you would "break even" at the same time. Just one would have higher loans)
In the end, this is what I did with the numbers
I run the numbers - then figure out if Ican afford the loans at the more expensive school, but with the salary you get at the lower school.
The reason for this being - what if I went to the "better" school (it seems like you really prefer kelly, which costs more), but still got the same job as if I went to the "worse" school. If I could still make ends meet in the short term, and come out ahead long term - then I would pick the "better" school.