Find all School-related info fast with the new School-Specific MBA Forum

It is currently 28 Jul 2014, 02:56

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Interesting but pointless hypothetical, how much would you p

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Manager
Manager
avatar
Joined: 20 Dec 2009
Posts: 74
Location: United States (CA)
Concentration: Marketing, Entrepreneurship
GMAT 1: 710 Q47 V40
WE: General Management (Entertainment and Sports)
Followers: 1

Kudos [?]: 13 [0], given: 13

Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 13:33
How much would you pay for a top 5, top 10-15 acceptance to business school, in addition to the regular costs of tuition?
4 KUDOS received
Current Student
User avatar
Joined: 04 Nov 2009
Posts: 124
Schools: Tuck - Class of 2012
Followers: 2

Kudos [?]: 43 [4] , given: 1

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 16:32
4
This post received
KUDOS
One... Miiiiiiiiiiillion Dollars!

Image
1 KUDOS received
Manager
Manager
avatar
Joined: 20 Oct 2009
Posts: 170
Followers: 1

Kudos [?]: 25 [1] , given: 2

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 15:28
1
This post received
KUDOS
Jivana wrote:
Going by Rhyme's interpretation, I say $0 as well. For different reasons though.

Where is the honor in getting in by bribing, extra money, connections, or any other unethical means?

I would rather invest the 150K on a few Dunkin Donuts shop than do an MBA, if this is what it boils down to!


Honor? This isn't feudal Japan. How are "connections" unethical? An MBA is far more about the networking opportunities offered than the education itself. Post-MBA success will be dictated far more by the hands you shake than the grades you make.
1 KUDOS received
Current Student
User avatar
Joined: 04 Nov 2009
Posts: 124
Schools: Tuck - Class of 2012
Followers: 2

Kudos [?]: 43 [1] , given: 1

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 17:17
1
This post received
KUDOS
In all seriousness, I wouldnt be willing to pay all that much. Of course I am biased because I already have admits, maybe my answer would be different if I didnt have a shot in hell at a top program.

I also agree with Rhyme, or at least what I think he is getting at. I am unconvinced of the difference between the elites and the super-duper ranked schools. The top school may get you in the door, but its going to be up to you from that point to make yourself successful. There are plenty of people who go to top programs that dont "make it" and there are plenty of people without MBAs that knock it out of the park. A lot of it comes down to luck I would imagine.
Senior Manager
Senior Manager
User avatar
Joined: 20 Mar 2008
Posts: 455
Followers: 1

Kudos [?]: 65 [0], given: 5

GMAT Tests User
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 14:38
serenityprayer wrote:
How much would you pay for a top 5, top 10-15 acceptance to business school, in addition to the regular costs of tuition?


I don't understand your questions, can you rephrase it?
GMAT Club Legend
GMAT Club Legend
avatar
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5925
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Followers: 247

Kudos [?]: 1513 [0], given: 7

GMAT Tests User Premium Member
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 14:43
I think the question is "How much would you pay for a guaranteed admission to the school of your choice?"

In my case, I'd pay $0, since I'm no longer convinced there is a material difference.
Senior Manager
Senior Manager
User avatar
Joined: 20 Mar 2008
Posts: 455
Followers: 1

Kudos [?]: 65 [0], given: 5

GMAT Tests User
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 15:01
Going by Rhyme's interpretation, I say $0 as well. For different reasons though.

Where is the honor in getting in by bribing, extra money, connections, or any other unethical means?

I would rather invest the 150K on a few Dunkin Donuts shop than do an MBA, if this is what it boils down to!
Current Student
User avatar
Joined: 05 Aug 2008
Posts: 1262
Schools: Ross 2012
WE 1: 5 Years at Fortune 50 Company in Manufacturing
Followers: 17

Kudos [?]: 164 [0], given: 20

GMAT Tests User
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 15:35
i'll be less ethical

I'd say 5K since that's about how much I've paid for app fees, flights, hotels, and stuff.
_________________

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Manager
Manager
avatar
Joined: 20 Dec 2009
Posts: 74
Location: United States (CA)
Concentration: Marketing, Entrepreneurship
GMAT 1: 710 Q47 V40
WE: General Management (Entertainment and Sports)
Followers: 1

Kudos [?]: 13 [0], given: 13

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 16:53
thank you rhyme for the rephrase!

"How much would you pay for a guaranteed admission to the school of your choice"

please understand that the intent of the question is really to understand how much material value to YOU personally 2 things

1. guaranteed admission - yes all of you probably will get in to at least 1 school, but what is the price of the security of knowing right now
2. school choice: what is the perceived material value of attending your #1 choice vs your backup, and why?


rhyme - can you explain why you think for the school choice it doesn't really matter materially? remember i'm asking from an ignorant newbie perspective of never having attended bschool, but really curious to know your thoughts...
also understandably, guaranteed admission doesn't really matter for you right now (since you're already at a really good top school), but perhaps when you were an mba hopeful just like the rest of us?

--

also i should add this question isn't really about ethics, pretend you're in world where you're paying some higher being for these magical gifts, and that higher being accepts nothing in return and also by any known or unknown rule or moral law what you're doing is fine =)
Senior Manager
Senior Manager
User avatar
Joined: 20 Mar 2008
Posts: 455
Followers: 1

Kudos [?]: 65 [0], given: 5

GMAT Tests User
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 18:22
merkin wrote:
Jivana wrote:
Going by Rhyme's interpretation, I say $0 as well. For different reasons though.

Where is the honor in getting in by bribing, extra money, connections, or any other unethical means?

I would rather invest the 150K on a few Dunkin Donuts shop than do an MBA, if this is what it boils down to!


Honor? This isn't feudal Japan. How are "connections" unethical? An MBA is far more about the networking opportunities offered than the education itself. Post-MBA success will be dictated far more by the hands you shake than the grades you make.


Let me put this another way: I'm not against networking or building connections, but what I'm against is getting in because you are some bigshot's son, or someone 'high up there' pulls some strings for you.

All I am saying is that the playing field gotta be level, so that everyone gets a fair shot at greatness. Just because one is born into a rich / well-connected family one should not have an unfair advantage over someone who works his way up from the bottom of the food-chain.

And, if the process cannot be fair to all then why even bother having it in the first place? let's just go back to the old days, where only the son of a king has a shot at the crown...for everyone else it's blasphemy!
Senior Manager
Senior Manager
User avatar
Joined: 20 Mar 2008
Posts: 455
Followers: 1

Kudos [?]: 65 [0], given: 5

GMAT Tests User
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 19:31
serenityprayer wrote:
thank you rhyme for the rephrase!

"How much would you pay for a guaranteed admission to the school of your choice"

please understand that the intent of the question is really to understand how much material value to YOU personally 2 things

1. guaranteed admission - yes all of you probably will get in to at least 1 school, but what is the price of the security of knowing right now
2. school choice: what is the perceived material value of attending your #1 choice vs your backup, and why?


rhyme - can you explain why you think for the school choice it doesn't really matter materially? remember i'm asking from an ignorant newbie perspective of never having attended bschool, but really curious to know your thoughts...
also understandably, guaranteed admission doesn't really matter for you right now (since you're already at a really good top school), but perhaps when you were an mba hopeful just like the rest of us?

--

also i should add this question isn't really about ethics, pretend you're in world where you're paying some higher being for these magical gifts, and that higher being accepts nothing in return and also by any known or unknown rule or moral law what you're doing is fine =)



Ok, seems like I might have taken our initial question a little out of context. So here's what I would do in case of a confirmed admit.

I would pay around 6k, here's the breakdown:

  • The total cost incurred for the apps of the other schools
  • The traveling costs to other schools
  • The time I saved by not applying to other schools.


I put the figure roughly around 5k. Another 1k premium for the peace of mind. So total 6k or so.
Manager
Manager
avatar
Joined: 21 Sep 2009
Posts: 163
Schools: Ross '13
Followers: 3

Kudos [?]: 16 [0], given: 4

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 01 Mar 2010, 19:32
if this is one of those questions where you start off going....

"how about $1,000 for admission" - some people would be like "thats a no brainer, hell yeah"

"well how about for $10,000" - "oh i'd have to think about it..."

"well what about paying $100,000 to get in?" - "Are you joking!? what kind of person do you think I am???"

..."I already know what you are, now we're just negotiating price" :)


but this isnt an ethical dilemma so yeah...i'd probably pay upwards of $10,000, cause I'd value that as the opportunity cost of all the stress/pain/anxiety/vacation days/arguments/etc during applications.
_________________

My profile

Manager
Manager
avatar
Joined: 27 Aug 2009
Posts: 51
Followers: 0

Kudos [?]: 2 [0], given: 1

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 02 Mar 2010, 10:58
Assuming I could gain entrance into at least one of my choices by studying hard, I would pay the amount I paid for prep materials, estimate the hours of prep work plus a little extra for the security. Maybe $3,000? Any more than that and I figure I could just study my way to it.
Manager
Manager
avatar
Joined: 10 Aug 2009
Posts: 123
Followers: 3

Kudos [?]: 12 [0], given: 13

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 11 Mar 2010, 00:29
Probably nothing. The amount of debt I'd have to rack up is not worth it.
Current Student
avatar
Joined: 10 Nov 2009
Posts: 248
Schools: Emory 2012
WE 1: 1 yr proprietary trading
WE 2: 2 yrs global ibank in municipal derivatives
Followers: 6

Kudos [?]: 49 [0], given: 11

GMAT Tests User Reviews Badge
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 12 Mar 2010, 21:21
Let's look at this another way. Suppose HBS charged 100k per year in tuition. Do you think they'd still be able to fill their class? I think they would be able to (hopefully without drastically changing the make up of their population).

I might be willing to pay more than others because my process has been quite painful, but I think I'd easily pay 10k for the b-school of my choice, and I think the real number is closer to 40 or 50k.

I'll risk sounding awful, but I think I'd be willing to pay 40k over Stanford's 2-year sticker price rather than going to Emory at a discount (or CMU).

I actually really like this topic, as hypothetical and unfair/unethical as it may be. I'm also assuming that I'm the only person who has this offer, and that me being in the class doesn't change the make-up of the rest of the class. I.e. I'm not in class with the 200 kids who are willing to pay the most, but rather, the kids who got in fair and square. I'd also want to stipulate that nobody else in the class would know about this agreement, and they'd think I got in fairly. Given those conditions, I think it's a good deal.

Rhyme, I'm very curious why you think there isn't a material difference? Can you elaborate on when you think the drop off happens.
_________________

http://www.mbavolunteers.org - check it out

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Senior Manager
Senior Manager
avatar
Joined: 04 Dec 2009
Posts: 376
WE: Consulting (Consulting)
Followers: 10

Kudos [?]: 71 [0], given: 4

GMAT Tests User
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 13 Mar 2010, 03:43
Ginetta wrote:
One... Miiiiiiiiiiillion Dollars!

Image


This has got to be the best response.
Expert Post
Founder
Founder
User avatar
Affiliations: UA-1K, SPG-G, HH-D
Joined: 04 Dec 2002
Posts: 12021
Location: United States (WA)
GMAT 1: 750 Q49 V42
GPA: 3.5
WE: Information Technology (Hospitality and Tourism)
Followers: 2164

Kudos [?]: 7669 [0], given: 3627

GMAT ToolKit User Premium Member CAT Tests
Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 13 Mar 2010, 16:02
Expert's post
I would actually say it could be worth $10-20K extra when you are getting a job. So, potentially at least 2-3x that.
Just as having Coca Cola or Apple on your resume will be a strength, so will a top 10 school.
_________________

Founder of GMAT Club

Just starting out with GMAT? Start here... | Want to know your GMAT Score? Try GMAT Score Estimator
Need GMAT Book Recommendations? Best GMAT Books

Co-author of the GMAT Club tests

Have a blog? Feature it on GMAT Club!

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Intern
Intern
avatar
Joined: 15 Mar 2010
Posts: 8
Followers: 0

Kudos [?]: 0 [0], given: 0

Re: Interesting but pointless hypothetical, how much would you p [#permalink] New post 15 Apr 2010, 23:25
two million dollar
Re: Interesting but pointless hypothetical, how much would you p   [#permalink] 15 Apr 2010, 23:25
    Similar topics Author Replies Last post
Similar
Topics:
1 Experts publish their posts in the topic 3 hypothetical GMAT scores, which would you submit? jtyee 15 25 Apr 2014, 15:29
If hypothetical, Would Vs Will vinay3 1 08 Oct 2010, 16:11
6 Experts publish their posts in the topic Interesting but pointless hypothetical, how much would you p serenityprayer 17 01 Mar 2010, 13:33
Please evaluate and let know how much you would score me? sang5650 3 12 Feb 2010, 11:38
Hypothetical For You johnnyx9 18 06 Jun 2007, 05:33
Display posts from previous: Sort by

Interesting but pointless hypothetical, how much would you p

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.