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Chicago Booth with $ & MIT

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Chicago Booth with $ & MIT [#permalink] New post 04 Apr 2013, 06:53
Hi Guys, I was lucky to get two MBA offers in R2 this year: Chicago Booth with $50,000 scholarship, and MIT Sloan. I like both schools a lot, and it is really difficult to make a decision.

My background: Asian Female, top-tier university in Asia, Bachelor of Finance, Master of Public Administration, 4 year working experiences in a global investment bank. My husband is working in Texas now.
Career goal: still explore, possibly Private Equity or General Management (not necessarily finance). Plan to work in the US (possibly Texas) in the short term, and come back to Asia in the long run.

I visited both schools, and each school has its own characteristic. Based on my research:

Chicago Booth: (1) very strong in Finance, which matches my background better; (2) seemed to have more alumni resources in the finance circle in Asia; (3) the scholarship is attractive.
MIT Sloan: (1) stronger in entrepreneurship and general management, not finance;(2) does not have many alumni in Asia; (3) MIT as a university has a much bigger brand name, especially in Asia; (3) Might be able to open a door to the filed outside finance.

Would you mind sharing your insights with me? Thank you so much!

Last edited by courage2002 on 17 Apr 2013, 05:38, edited 2 times in total.
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Re: Chicago Booth with $ & MIT [#permalink] New post 05 Apr 2013, 04:57
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Alright, I've been holding off on replying to this until I had sufficient time. As you may know, I will be matriculating at Sloan and was invited to interview at Booth (and withdrew), so I feel like I have a decent grasp of some of the unique attributes of each school. Rather than list some pros and cons, I'll try to point out things that make the schools different so you can focus on the differentiators when you make your decision.

Curriculum: Booth has a truly flexible curriculum (no core) whereas Sloan has a very flexible curriculum (one semester core). Which do you prefer? Personally, I like the idea of having an ocean (cohort/cluster) and core team to get to know some people very well right off the bat. That said, lots of Boothies feel having no core is a distinct advantage, as it allows them to fully form their own social circles rather than being forced to "bond" with only the students in your cohort/cluster.
Class Size: Booth's class size is roughly 550, whereas Sloan's is 400 (350 if you set aside LGO). Would you rather be part of a small program (likely a more close-knit community across the whole class) or a large program (more diversity in electives, students, and a larger alumni base in terms of absolute numbers)?
City: Would you rather live in Boston or Chicago for two years?
Brand: MIT is one of the best-known universities in the world. However, a lot of the name cachet comes from engineering and the sciences. Think about it this way: when you tell someone you went to MIT (or Chicago), they will immediately assume some things about you. So, do you want to be associated with MIT (hard sciences, engineering, tech) or Chicago (brilliant finance minds)? Another thing to consider: what school are you more proud to tell people you got into?
Recruiting: PE is going to be very tough out of either school without pre-MBA PE experience. That said, Booth is more of a core finance school, so this is probably the biggest differentiator in favor of Booth. I'd reach out to folks pursuing PE from IB-only backgrounds at both schools and see what level of success they are having. You can get general management jobs from either school, so that's a wash.
Money: $40K is nothing to scoff at. I once read on here that money should be a tie-breaker, which I thought was really smart. If after doing more research into both schools, you feel like you'd be equally happy and would get the same job from either school, feel free to let the money enter into the equation.

As an aside, I'm not sure why you think the Sloan alumni presence in Asia is weak. I checked the last five employment reports for each school and here are the percentage of students going to Asia for both schools:

Sloan: 8.5% (c/o 2012), 9.9% (c/o 2011), 10.2% (c/o 2010), 5.7% (c/o 2009), 8.5% (c/o 2008)
Booth: 6.5% (c/o 2012), 7.2% (c/o 2011), 10.0% (c/o 2010), 9.6% (c/o 2009), 10.7% (c/o 2008)

I'd call the differences virtually statistically insignificant. More than that, I'd bet the percentage of students going to Asia is simply a function of the make-up of the class rather than the strength of either school's global reach.
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Re: Chicago Booth with $ & MIT [#permalink] New post 05 Apr 2013, 08:26
No expert here... But I think this is the perfect example for a situation in which money can be the tie breaker...
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Re: Chicago Booth with $ & MIT [#permalink] New post 05 Apr 2013, 11:01
kingfalcon wrote:
Alright, I've been holding off on replying to this until I had sufficient time. As you may know, I will be matriculating at Sloan and was invited to interview at Booth (and withdrew), so I feel like I have a decent grasp of some of the unique attributes of each school. Rather than list some pros and cons, I'll try to point out things that make the schools different so you can focus on the differentiators when you make your decision.

Curriculum: Booth has a truly flexible curriculum (no core) whereas Sloan has a very flexibly curriculum (one semester core). Which do you prefer? Personally, I like the idea of having an ocean (cohort/cluster) and core team to get to know some people very well right off the bat. That said, lots of Boothies feel having no core is a distinct advantage, as it allows them to fully form their own social circles rather than being forced to "bond" with only the students in your cohort/cluster.
Class Size: Booth's class size is roughly 550, whereas Sloan's is 400 (350 if you set aside LGO). Would you rather be part of a small program (likely a more close-knit community across the whole class) or a large program (more diversity in electives, students, and a larger alumni base in terms of absolute numbers)?
City: Would you rather live in Boston or Chicago for two years?
Brand: MIT is one of the best-known universities in the world. However, a lot of the name cachet comes from engineering and the sciences. Think about it this way: when you tell someone you went to MIT (or Booth), they will immediately assume some things about you. So, do you want to be associated with MIT (hard sciences, engineering, tech) or Chicago (brilliant finance minds)? Another thing to consider: what school are you more proud to tell people you got into?
Recruiting: PE is going to be very tough out of either school without pre-MBA PE experience. That said, Booth is more of a core finance school, so this is probably the biggest differentiation in favor of Booth. I'd reach out to folks pursuing PE from IB-only backgrounds at both schools and see what level of success they are having. You can get general management jobs from either school, so that's a wash.
Money: $40K is nothing to scoff at. I once read on here that money should be a tie-breaker, which I thought was really smart. If after doing more research into both schools, you feel like you'd be equally happy and would get the same job from either school, feel free to let the money enter into the equation.

As an aside, I'm not sure why you think the Sloan alumni presence in Asia is weak. I checked the last five employment reports for each school and here are the percentage of students going to Asia for both schools:

Sloan: 8.5% (c/o 2012), 9.9% (c/o 2011), 10.2% (c/o 2010), 5.7% (c/o 2009), 8.5% (c/o 2008)
Booth: 6.5% (c/o 2012), 7.2% (c/o 2011), 10.0% (c/o 2010), 9.6% (c/o 2009), 10.7% (c/o 2008)

I'd call the differences virtually statistically insignificant. More than that, I'd bet the percentage of students going to Asia is simply a function of the make-up of the class rather than the strength of either school's global reach.


kingfalcon, thank you very much for your thorough, insightful analysis.

I am slightly biased to MIT Sloan, because of the curriculum arrangement, diverse student body (different industries, high international student percentage act), and learning and living environment (most Sloan students can live in or near campus, whereas most Booth students need to live in downtown for the security issue), and the overall brand. But I also asked myself: would these factors be more valuable than $40,000? It is a tough decision.

Anyway, thanks a lot.
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Re: Chicago Booth with $ & MIT [#permalink] New post 05 Apr 2013, 11:06
It certainly is a difficult decision! Have you reached out to Sloan to see if they'll extend you any money? They may not match $40K, but they may give you enough to make the money less of a factor.
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Re: Chicago Booth with $ & MIT [#permalink] New post 05 Apr 2013, 11:13
kingfalcon wrote:
It certainly is a difficult decision! Have you reached out to Sloan to see if they'll extend you any money? They may not match $40K, but they may give you enough to make the money less of a factor.


No. Some of my friends advised me to do that, but I heard MIT rarely granted scholarship. I asked some fellow students from my country, and they said they never heard anyone from my country got any money. Do you think it is worth a shot? I really need the money, because currently I am unemployed for the family reason. thank you.
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Re: Chicago Booth with $ & MIT [#permalink] New post 05 Apr 2013, 11:41
courage2002 wrote:
kingfalcon wrote:
It certainly is a difficult decision! Have you reached out to Sloan to see if they'll extend you any money? They may not match $40K, but they may give you enough to make the money less of a factor.


No. Some of my friends advised me to do that, but I heard MIT rarely granted scholarship. I asked some fellow students from my country, and they said they never heard anyone from my country got any money. Do you think it is worth a shot? I really need the money, because currently I am unemployed for the family reason. thank you.

I haven't heard of many folks getting money from Sloan, but it's absolutely worth asking them. What do you have to lose? It's not like Sloan is going to revoke your admission because you inquired about scholarship funding.

P.S. I keep hearing from current students that there are many, many opportunities to lower your tuition bill as soon as your second term by volunteering to become a teaching assistant or research assistant. Maybe you won't be able to reduce it by $40K, but it's something worth keeping in mind.
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Re: Chicago Booth with $ & MIT [#permalink] New post 05 Apr 2013, 12:26
kingfalcon wrote:
courage2002 wrote:
kingfalcon wrote:
It certainly is a difficult decision! Have you reached out to Sloan to see if they'll extend you any money? They may not match $40K, but they may give you enough to make the money less of a factor.


No. Some of my friends advised me to do that, but I heard MIT rarely granted scholarship. I asked some fellow students from my country, and they said they never heard anyone from my country got any money. Do you think it is worth a shot? I really need the money, because currently I am unemployed for the family reason. thank you.

I haven't heard of many folks getting money from Sloan, but it's absolutely worth asking them. What do you have to lose? It's not like Sloan is going to revoke your admission because you inquired about scholarship funding.

P.S. I keep hearing from current students that there are many, many opportunities to lower your tuition bill as soon as your second term by volunteering to become a teaching assistant or research assistant. Maybe you won't be able to reduce it by $40K, but it's something worth keeping in mind.


Thank you for your advice. I will definitely keep it in mind.
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Re: Chicago Booth with $ & MIT [#permalink] New post 09 Apr 2013, 04:19
No problem. Please come back and let us know your thought process and decision once you've made it!
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Re: Chicago Booth with $ & MIT [#permalink] New post 01 May 2013, 14:50
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kingfalcon wrote:
No problem. Please come back and let us know your thought process and decision once you've made it!


Hi kingfalcon, I finally decided to go for MIT. I have to say, giving up Booth and the scholarship is really painful...

Looking forward to seeing you in Boston!
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Re: Chicago Booth with $ & MIT [#permalink] New post 01 May 2013, 15:06
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courage2002 wrote:
kingfalcon wrote:
No problem. Please come back and let us know your thought process and decision once you've made it!


Hi kingfalcon, I finally decided to go for MIT. I have to say, giving up Booth and the scholarship is really painful...

Looking forward to seeing you in Boston!

That's fantastic news! PM me if you want to chat further! :-D
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Re: Chicago Booth with $ & MIT [#permalink] New post 03 May 2013, 10:12
kingfalcon wrote:
courage2002 wrote:
kingfalcon wrote:
No problem. Please come back and let us know your thought process and decision once you've made it!


Hi kingfalcon, I finally decided to go for MIT. I have to say, giving up Booth and the scholarship is really painful...

Looking forward to seeing you in Boston!

That's fantastic news! PM me if you want to chat further! :-D


Just got a call from Tuck, and off the WL. Tuck used to be my favorite school, sigh...
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Re: Chicago Booth with $ & MIT [#permalink] New post 03 May 2013, 10:24
courage2002 wrote:

Just got a call from Tuck, and off the WL. Tuck used to be my favorite school, sigh...

When it rains, it pours, right? :lol:

I and many of my future classmates (7+ that I can think of off the top of my head) were faced with the exact same decision (Tuck vs. Sloan). I'd be happy to share my rationale with you if you'd like (or connect you with any of them that I know).
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Re: Chicago Booth with $ & MIT [#permalink] New post 03 May 2013, 10:32
kingfalcon wrote:
courage2002 wrote:

Just got a call from Tuck, and off the WL. Tuck used to be my favorite school, sigh...

When it rains, it pours, right? :lol:

I and many of my future classmates (7+ that I can think of off the top of my head) were faced with the exact same decision (Tuck vs. Sloan). I'd be happy to share my rationale with you if you'd like (or connect you with any of them that I know).


I would be very happy to listen to your rationale. Thank you so much. I will PM you.
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Re: Chicago Booth with $ & MIT [#permalink] New post 04 May 2013, 07:47
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courage2002 wrote:
kingfalcon wrote:
courage2002 wrote:

Just got a call from Tuck, and off the WL. Tuck used to be my favorite school, sigh...

When it rains, it pours, right? :lol:

I and many of my future classmates (7+ that I can think of off the top of my head) were faced with the exact same decision (Tuck vs. Sloan). I'd be happy to share my rationale with you if you'd like (or connect you with any of them that I know).


I would be very happy to listen to your rationale. Thank you so much. I will PM you.


Errr...I hope Kingfalcon was able to sell you on Sloan so that Tuck WL admit can roll down my way.... :-D
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Re: Chicago Booth with $ & MIT [#permalink] New post 12 May 2013, 11:50
Hi Kingfalcon,

I found your Booth vs. MIT rationale useful. If it's not too private, can you please share your MIT vs. Tuck rationale here as well?

Thank you.
Re: Chicago Booth with $ & MIT   [#permalink] 12 May 2013, 11:50
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