Thank you for going through my conflict. I need your advice on this very critical decision!
I have been admitted to Michigan Ross (no scholarship) and UNC's Kenan Flagler (full ride). I am an international candidate, and interested in a career in consulting or non-IB finance. Hoping for a placement either in NY or California.
The points that matter to me in both schools are:
Program and course structure
Return on Investment
People and culture
Brand value (in and outside US)
It would be great to know your views on this! If you think of some important criteria I should have considered, please feel free to add.
Thanks a lot
These are great programs, so congratulations on your acceptances and the scholarship offer! To me this is a problem that can be approached mathematically: to attend UNC you will need about $25k in living expenses each year; to attend Ross will cost you about $74k each year in tuition and living expenses. That's a difference of $98k in two years. So how long will it take to earn that difference?
Graduates of UNC who enter consulting earn an average salary of $117k per year, while Ross graduates earn $125k. So, each year the difference is $8k. It would take you over 12 years to "earn back" that $98k investment into Ross. Of course, this assumes that you (and the rest of the foreign student body) has no problem obtaining the necessary visas to stay in the US for that employment. If you work abroad, the average salary (not broken down by industry) for UNC is $88.5K and $101k for Ross. That difference of $12.5k will reduce the years required to earn back your investment in Ross to just under 8. Ross clearly has the stronger global reputation, but you must ask yourself if you need that or have the individual success and network abroad that mean you don't require Ross's name.
My advice is that you approach the Ross admissions office with your current conundrum and ask if any tuition reduction can be offered to you to make your decision easier. Obviously, do this with respect and humility. If they can help you make this mathematical formula easier to digest, great. If not, then this calculation needs to be combined with your own impressions of the students and life you will experience on both campuses to decide which is the better investment of your money and 2 years of your life.
Good luck with your decision and let us know what you do decide!
Jennifer Bloom, CPRW
Follow Accepted on Twitter
Friend Accepted on Facebook
Subscribe to Accepted's Blog