OptimisticApplicant wrote:
Over the past few days, I have been thinking about the ROI of a MBA a lot. I am posting my thoughts here to see what you fellow GMATClub members think!
First, some background information:
- Here is a really brief post with my profile:
2013-profiles-w-admit-dings-results-no-discussion-136339.html#p1120371.
- I need to stay in the Northeast U.S. for family reasons and am planning to stay here long-term
- Ultimately, I would love to start my own venture, but realize that a leadership development program might be a more feasible career path (note, I definitely do not want to go into consulting or banking)
- In R1, I was dinged by two top 5 programs (HBS and MIT Sloan), but was admitted to Babson's one-year program with a full-tuition, books and supplies scholarship!
Now, I am just trying to decide whether it is worth it to apply to other top programs (i.e., Tuck, Columbia, and/or NYU Stern) in R2.
Basically, I'm trying to figure out if a top 15 program (vs. a top 50 program) would even be worth spending an extra $120K in tuition and an extra 3 months of foregone salary if I were fortunate enough to gain admission.The greatest benefit (for me, personally) that I can see is the breadth and depth of the current student body and alumni network at a larger, top 15 program. Is that really worth the additional cost? Is anyone else in a similar situation?
Thanks for your help!
OptimisticApplicant
Congrats on the scholarship!!
I am in the exact opposite position as you--admitted to a top 15 program (with no funds), but trying to figure out whether to apply to BU/Babson/BC in order to potentially get a large scholarship. I really like Darden, but it might be nice to stay in Boston and it'd be great to have less debt at the end of this ordeal.
A full-ride is nothing to scoff at, but you certainly may have more opportunities at a higher ranked program that would justify a higher cost (or who knows, maybe you'll get a comparable scholarship at a top 15--much easier decision). Ultimately, I agree with the previous poster--go ahead and apply, see what happens, and then you can make a final decision if the situation presents itself.
If you do get in to a top 15 and are still on the fence, I would take a critical look at the recruiting at Babson before making your decision. There are several very negative comments about their career advising on the most recent Businessweek report (worse than anything said about comparable BC/BU). I wonder if some of Babson's placements at good firms are a result of sponsored students as opposed to solid, on-campus recruiting. That said, it's obviously an amazing program for entrepreneurship, and if you stay in the area I'm sure you'll have some solid opportunities. The key difference is that you might have to put in more leg-work to find the same caliber of jobs that you might find during on-campus recruiting at a Tuck, Stern, or Columbia.
Plus, as you mention, your network and the caliber of the student body overall might be stronger at a top 15 (another point mentioned in Businessweek--definitely worth a read if you haven't seen it yet).
close
27 Dec 2012, 12:59
Apply to Babson/BU/BC in R2 and see if you can get a scholarship, then you can decide! 
