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With my savings, if I choose Texas A&M or Vanderbilt, it will take one year to repay the cost of the entire program (cost of living, tuition, insurance,etc). However, these schools are not as highly ranked as NYU or Darden.
Darden and NYU will take roughly 3 and 4 years to repay, respectively. Is it worth it going to these schools?
I applied to several of those schools as well and have been having the same cost vs ranking dilemma. I will say one thing-- most people who say "Go where you want and worry about money later" are on the front end of things. Post- MBA professionals usually have a different take, though not always. If you look at ROI for some top schools, it's reeeeeeally long, like Chicago Booth, at 14 years. So money should not be the only factor, but as a business investment, it should be A factor.
Second, look at where you want to work, geographically speaking. That's where your alumni network will be strongest as well as brand recognition for your school. For example, I am originally from Atlanta, where Emory, Duke, and Vanderbilt are super strong brand names. When I told my friend I got a big scholarship at Darden as well as Vanderbilt, her reaction was: "You got into Vanderbilt?!" Point being- everyone else in the world hasn't spent the last 6 months agonizing over lists of rankings like we all have.
Darden is a fantastic school and well recognized. However, one of my buddies from California got a full-tuition offer there, but he's concerned because his friends in California aren't familiar with the U of Virginia. Almost all schools are regional to some extent. However, some of that is by choice, as they draw regional students who prefer to stay in the area. Just take it into consideration. You are not limited by your school or location, and having a lot less debt may give you more freedom after graduation to take the job you really want over the job that pays more but isn't where you want to be.
what do you want to do post MBA and where do you want to be?
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Re: Top 20 B-School: Cost vs Ranking
16 Dec 2016, 12:03