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Booth or HBS

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Booth or HBS [#permalink] New post 26 Dec 2009, 14:44
After withdrawing my application from the WL at Wharton, it's Booth or HBS.

Areas of interest post-MBA are IB, PE/VC, IM, HF. My prior experience is not related to any of these, so IB or IM is probably the most likely scenario coming out of school (someone can correct me if that is not the case). If I were able to choose, I would probably go with PE, but so would everyone and their mom.

On the surface, Booth appeals to me more. Flexible curriculum, non-cohort, non-100% case method, stronger reputation in finance from technical standpoint. However, HBS is HBS. It would provide a great education too, and there is the brand name and the network it brings. FWIW, I would have no problem with someone calling me a brand-name wh*re.

So, any thoughts here? Things I'm neglecting to consider, or things I have considered that I'm looking at mistakenly? I've heard rumors of people turning down HBS for Booth, but never met anyone.

Thanks!
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Re: Booth or HBS [#permalink] New post 31 Dec 2009, 11:20
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formerlyknownas wrote:
You've got to be kidding right. I could understand Wharton over HBS. But Booth over HBS. Nah mate. HBS!

False consensus warning here. Do not think that your perception is reality, please.


What people here do not see (and on BW forum even more) is that it is not only because one is in a good school (s)he will automatically have good offers. I have friends who struggled at H/S while people at lower ranked schools had more and more interesting offers. A very good friend of mine at Wharton is still looking for jobs, while my peers (Brazilians interested in banking an IM) had multiple offers in good companies at Booth. Just to give an idea, those who know me are aware that I was not actively looking for jobs as I am sponsored; however, I received without active involvement 5 invitations to interviews for full job positions in big consulting firms and some banks, and the message was: we liked your resume. They did not refer to the school. The school is a table stake, not a differentiator. Especially in a competitive environment I believe that experience counts more than the school brand in some industries (banking is the one I am most aware of).


When I referred that for IM and IB is the same, I wanted to say that one would have the generally the same opportunities from HBS and Booth, and not that it would be the same as the PE/VC/HF industries. Sorry, but 3 weeks in Brazil is already ruining my English :lol:
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Re: [#permalink] New post 30 Dec 2009, 19:53
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eminent wrote:
I think your opportunities will be comparable for IB and IM coming out of school. However, down the line, the HBS name will open far more doors in PE/VC if that is your end goal. HBS and Stanford grads dominate those two industries.


Right after school this is true; nevertheless, most people with previous experience in PE/VC go to HBS and Stanford, and that is why these 2 schools have more people going to PE/VC right after school. Both industries are hard to break into, especially if you want the big names (KKR, Blackstone, Carlyle, Bain Capital, etc). Same thing with HF, hard industry to get inside. IM and IB I would say that it will be the same.

I love Booth, but I have to admit that HBS will indeed open you more doors generally speaking, just beware that for PE/VC/HF people use to tell only half of the story, I am telling this because around 50% of the people nowadays going to MBA believe that they have a shot with these industries when the actual number it's way lower than this.
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Re: Booth or HBS [#permalink] New post 26 Dec 2009, 14:48
Also, these type of threads are a dime a dozen on the BW forum, and they usually devolve into some sort of p*ssing contest. Really hoping that doesn't happen here. I think we're a little higher class around here. :)

I'm aware these schools are both great too, so I'm not trying to present any kind of woe-is-me situation. The main reason I'm asking for input is because of the situation with the SO, and just wanting to make sure I've done my due diligence and not given into the knee-jerk reaction of immediately choosing HBS.
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 [#permalink] New post 26 Dec 2009, 15:22
I think your opportunities will be comparable for IB and IM coming out of school. However, down the line, the HBS name will open far more doors in PE/VC if that is your end goal. HBS and Stanford grads dominate those two industries.

My advice: Take HBS and don't look back ever again. The only reason to even think twice about this is if you had a full-ride to Booth.
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Re: Booth or HBS [#permalink] New post 26 Dec 2009, 16:17
Putting aside all ranking/branding comparisons, I don't think that the academic experience would be necessarily better at either school, but definitely very different. You already mentioned the cohort system, case study, and flex. curriculum as distinguishing factors. One aspect of the Booth's academics that they highlighted during Booth live was their experiential learning classes, including a PE/VC lab class that offered a hands on role in a real firm during the school year. That being said, I think you're being realistic when you say that PE/VC is unlikely without prior experience. That checks with everything I've read or discussed with students about PE/VC recruiting from any top school.

Judging from your original post, it sounds it really comes out down to possibly better fit (Booth) vs. HBS being HBS. I'm sure that everyone will say HBS but it's cool that you're keeping an open mind right now and at least examining your options. Keep us updated!
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Re: Booth or HBS [#permalink] New post 27 Dec 2009, 18:30
I was in the same position last year (Booth vs. HBS and finance career objectives). I chose HBS. From a short-term perspective both schools will allow you to reach your objectives. However, you never know what careers you are going to pursue in the next 10 or 20 years. From that perspective I felt HBS to be much safer choice.
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Re: Booth or HBS [#permalink] New post 28 Dec 2009, 11:01
On the simple basis of Alumni ties into HF and VC houses, it would have to be HBS. They are very tight circles that these things move in, and while Chicago is a great school you are sort of betting on it building up the presence in these industries, whereas HBS already has that established presence.
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Re: Booth or HBS [#permalink] New post 29 Dec 2009, 14:57
I'd have to agree with 3under. I'm currently working at PE shop (west coast) and the number of HBS alumni I run into far exceeds that of Booth. However, having worked in banking as well, I think either school will provide you a good platform to secure a good banking offer.
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Re: Booth or HBS [#permalink] New post 29 Dec 2009, 19:20
congratulations on your acceptances.

I'm a HBS '10.

Don't worry about the finance case-method. If you want to do the hard-core finance learning, there's enough weekend offerings (TeachTheStreet, clubs etc.) that give you enough modelling practice.

If you want to really learn the theory behind CAPM, or why the efficient market line is so important, then Booth is for you. If you want to understand how to make a decision as a manager, then it's HBS.

Think about it from a PE Associate's role. Are you going to be super precise calculating beta to get your unlevered equity returns, or is the partner/MD just going to give you the firm's WACC (my guess is 10%) to use?
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Re: Booth or HBS [#permalink] New post 29 Dec 2009, 21:03
Congrats on getting into both schools. I applied to both and prematurely thought about what I would do if I was in your situation. I liked my visit to Booth more than my visit to Harvard, but saw Harvard as the choice I'd have to make. HBS is so much safer than choosing Booth, and there's no added reward for taking on the risk of going to Booth over HBS. I'm sure you'll do very well coming out of either school, but passing on HBS with your goals doesn't make sense to me.
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Re: Booth or HBS [#permalink] New post 30 Dec 2009, 05:17
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Re: Booth or HBS [#permalink] New post 30 Dec 2009, 06:25
The value of an MBA is so much more than in the academics. Chicago is a better school academically, but are no parallels to the HBS brand and network.
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Re: Booth or HBS [#permalink] New post 30 Dec 2009, 19:21
from everything i've read.. there are very few situations where someone would choose school X vs. HBS. i don't think this is one of them, though, and if i were in your position i would take HBS over booth
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Re: Booth or HBS [#permalink] New post 30 Dec 2009, 19:37
Big-O wrote:
congratulations on your acceptances.

I'm a HBS '10.

Don't worry about the finance case-method. If you want to do the hard-core finance learning, there's enough weekend offerings (TeachTheStreet, clubs etc.) that give you enough modelling practice.

If you want to really learn the theory behind CAPM, or why the efficient market line is so important, then Booth is for you. If you want to understand how to make a decision as a manager, then it's HBS.

Think about it from a PE Associate's role. Are you going to be super precise calculating beta to get your unlevered equity returns, or is the partner/MD just going to give you the firm's WACC (my guess is 10%) to use?



Is it bad that I don't understand what 80% of the abbreviations that you guys are talking about mean? I might should grab a MBA for dummies before I take my flight to visit...


PS: Congrats. Definitely a good problem to have. Working on getting in for R2 as we speak.
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Re: Booth or HBS [#permalink] New post 30 Dec 2009, 19:39
shadowsjc wrote:
from everything i've read.. there are very few situations where someone would choose school X vs. HBS. i don't think this is one of them, though, and if i were in your position i would take HBS over booth


Agreed. Only reason to turn down HBS in my opinion is when a person really wants to go to the west coast or get into the tech industry. Then GBS may get the nod.

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Re: Re: [#permalink] New post 31 Dec 2009, 03:38
That is very true kwam. There is a high level of causation. People in big name PE go to H and S and then return to big name PE. Thus begins a cycle where these two schools dominate folks in big name PE. As a non PE b-school student you need these things to break in :
- Superb banking experience (deal making / modelling etc.)
- If not banking then superb MC experience
- Ability to network and fit in with the PE types
- Some connections in the PE industry

At Harvard you will be competing with a lot of superstars for the same PE jobs. So by no means assume that Harvard is a golden ticket. Go there for the right reasons (stronger brand, opens more door, case method does it for you, the crowd is right for you etc. etc.)

I have met people who have turned down Harvard for LBS (yes it happens). They do it for various reasons. Fit (they like the older crowd here), personal situation (girl friend wants to stay in London, all the networks are located in London) or financial (full scholarship). So see what applies for you, if you were to turn it down. It could be as simple as fit. You will be spending two years there - you want them to be the best two years of your life.

Good luck with the decision.

kwam wrote:
Right after school this is true; nevertheless, most people with previous experience in PE/VC go to HBS and Stanford, and that is why these 2 schools have more people going to PE/VC right after school. Both industries are hard to break into, especially if you want the big names (KKR, Blackstone, Carlyle, Bain Capital, etc). Same thing with HF, hard industry to get inside. IM and IB I would say that it will be the same.

I love Booth, but I have to admit that HBS will indeed open you more doors generally speaking, just beware that for PE/VC/HF people use to tell only half of the story, I am telling this because around 50% of the people nowadays going to MBA believe that they have a shot with these industries when the actual number it's way lower than this.
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Re: Booth or HBS [#permalink] New post 31 Dec 2009, 05:56
You've got to be kidding right. I could understand Wharton over HBS. But Booth over HBS. Nah mate. HBS!
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Re: Booth or HBS [#permalink] New post 01 Jan 2010, 09:12
True because it is more 'competitive' at H/S. Maybe I was a little overzealous on my previous post; but if I was Mr. Bateman I would be strongly leaning towards HBS.. which I suspect he is. Either way, nice choice to have.

kwam wrote:
formerlyknownas wrote:
You've got to be kidding right. I could understand Wharton over HBS. But Booth over HBS. Nah mate. HBS!

False consensus warning here. Do not think that your perception is reality, please.


What people here do not see (and on BW forum even more) is that it is not only because one is in a good school (s)he will automatically have good offers. I have friends who struggled at H/S while people at lower ranked schools had more and more interesting offers. A very good friend of mine at Wharton is still looking for jobs, while my peers (Brazilians interested in banking an IM) had multiple offers in good companies at Booth. Just to give an idea, those who know me are aware that I was not actively looking for jobs as I am sponsored; however, I received without active involvement 5 invitations to interviews for full job positions in big consulting firms and some banks, and the message was: we liked your resume. They did not refer to the school. The school is a table stake, not a differentiator. Especially in a competitive environment I believe that experience counts more than the school brand in some industries (banking is the one I am most aware of).


When I referred that for IM and IB is the same, I wanted to say that one would have the generally the same opportunities from HBS and Booth, and not that it would be the same as the PE/VC/HF industries. Sorry, but 3 weeks in Brazil is already ruining my English :lol:
Re: Booth or HBS   [#permalink] 01 Jan 2010, 09:12
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