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Top 7 no money vs. $100,000+ lower top 20

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Current Student
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Joined: 11 Jan 2013
Posts: 22
Concentration: Entrepreneurship, Strategy
GMAT 1: 760 Q51 V41
GPA: 3.55
WE: Consulting (Energy and Utilities)
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Kudos [?]: 6 [0], given: 3

Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 25 Mar 2013, 09:08
At what point would you pass up a top 7 school for drastically lower debt (and likely a more enjoyable MBA experience, for better or worse)? I know I can't be alone out there in this consideration with a long-term goal of starting my own business/short-term goal of targeting a mid-size company with large upside to gain experience.

Specifically I'm curious to hear if anyone who has made the decision one way or another has any regrets or if they believe their decision really was the best for them?
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Status: Helping People Ace the GMAT
Affiliations: GMAT Prepster and Stratus Prep
Joined: 16 Jan 2013
Posts: 140
Location: United States
Concentration: Finance, Entrepreneurship
GMAT 1: 770 Q50 V46
GPA: 3.1
WE: Consulting (Consulting)
Followers: 7

Kudos [?]: 39 [0], given: 4

Re: Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 27 Mar 2013, 05:00
Can you be a little more specific about your options and your goals? This will help answer the question.
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Jim Kernan is the Director of GMAT Operations at Stratus Prep and author of GMAT Materials for GMAT Prepster.

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Concentration: General Management, Strategy
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Re: Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 27 Mar 2013, 06:46
Expert's post
It depends on what you want to do after b-school. For some careers, a top tier b-school is your only ticket of admission. For other careers, it doesn’t matter what school you go to.

In general, the career opportunity drops off a bit after H/S, drops off a bit more after top 7-8, drops off significantly after top 14.
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Current Student
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Joined: 11 Jan 2013
Posts: 22
Concentration: Entrepreneurship, Strategy
GMAT 1: 760 Q51 V41
GPA: 3.55
WE: Consulting (Energy and Utilities)
Followers: 0

Kudos [?]: 6 [0], given: 3

Re: Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 27 Mar 2013, 08:13
JimGMATPrepster wrote:
Can you be a little more specific about your options and your goals? This will help answer the question.


Of Course! Specifically for me I'm looking to jump out of consulting either into VC/PE or into a midsize firm (20-100 Million market cap) with high upside potential and a slant towards high tech industry and products (personally I have an interest in energy usage and efficient operation). Eventually the goal will be to spin-off into my own company.

Currently I'm weighing the accessibility, higher probability of greater earnings straight away and the likelihood of greater network strength at top 7 schools with the relative freedom of minimal debt, a still known commodity (at least at a strong regional level) and a focus on fostering start-up culture at lower-end top 20s.

Looking back on gmatclub I found several threads discussing similar issues for schools several spots lower relatively discussing classmates who regretted their choices (I hope everything worked out for them!). It seems fairly clear that the best choice is the best overall program (let's face it, most of us are hoping to make enough to pay back all our debts within a handful of years), but I was hoping someone who had experienced either side might weigh in!

I know I'm incredibly lucky to have this choice and really do appreciate any and all thoughts!!! :-D :o
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Status: CBS - Class of 2015
Joined: 05 Sep 2012
Posts: 147
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Re: Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 27 Mar 2013, 09:29
DCTech87 wrote:
JimGMATPrepster wrote:
Can you be a little more specific about your options and your goals? This will help answer the question.


Of Course! Specifically for me I'm looking to jump out of consulting either into VC/PE or into a midsize firm (20-100 Million market cap) with high upside potential and a slant towards high tech industry and products (personally I have an interest in energy usage and efficient operation). Eventually the goal will be to spin-off into my own company.

Currently I'm weighing the accessibility, higher probability of greater earnings straight away and the likelihood of greater network strength at top 7 schools with the relative freedom of minimal debt, a still known commodity (at least at a strong regional level) and a focus on fostering start-up culture at lower-end top 20s.

Looking back on gmatclub I found several threads discussing similar issues for schools several spots lower relatively discussing classmates who regretted their choices (I hope everything worked out for them!). It seems fairly clear that the best choice is the best overall program (let's face it, most of us are hoping to make enough to pay back all our debts within a handful of years), but I was hoping someone who had experienced either side might weigh in!

I know I'm incredibly lucky to have this choice and really do appreciate any and all thoughts!!! :-D :o


have u applied to schools yet? are you deciding? if so, between which - it would be helpful to know more details? otherwise, is this just a hypothetical question?
Current Student
avatar
Joined: 11 Jan 2013
Posts: 22
Concentration: Entrepreneurship, Strategy
GMAT 1: 760 Q51 V41
GPA: 3.55
WE: Consulting (Energy and Utilities)
Followers: 0

Kudos [?]: 6 [0], given: 3

Re: Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 27 Mar 2013, 10:04
old1442 wrote:
DCTech87 wrote:
JimGMATPrepster wrote:
Can you be a little more specific about your options and your goals? This will help answer the question.


Of Course! Specifically for me I'm looking to jump out of consulting either into VC/PE or into a midsize firm (20-100 Million market cap) with high upside potential and a slant towards high tech industry and products (personally I have an interest in energy usage and efficient operation). Eventually the goal will be to spin-off into my own company.

Currently I'm weighing the accessibility, higher probability of greater earnings straight away and the likelihood of greater network strength at top 7 schools with the relative freedom of minimal debt, a still known commodity (at least at a strong regional level) and a focus on fostering start-up culture at lower-end top 20s.

Looking back on gmatclub I found several threads discussing similar issues for schools several spots lower relatively discussing classmates who regretted their choices (I hope everything worked out for them!). It seems fairly clear that the best choice is the best overall program (let's face it, most of us are hoping to make enough to pay back all our debts within a handful of years), but I was hoping someone who had experienced either side might weigh in!

I know I'm incredibly lucky to have this choice and really do appreciate any and all thoughts!!! :-D :o


have u applied to schools yet? are you deciding? if so, between which - it would be helpful to know more details? otherwise, is this just a hypothetical question?


Guess I was trying to avoid that part ha. In to Kellogg & CBS v. Mccombs for $$$
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Current Student
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Status: CBS - Class of 2015
Joined: 05 Sep 2012
Posts: 147
Location: United States
Followers: 1

Kudos [?]: 25 [1] , given: 96

Re: Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 27 Mar 2013, 10:30
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[/quote]

have u applied to schools yet? are you deciding? if so, between which - it would be helpful to know more details? otherwise, is this just a hypothetical question?[/quote]

Guess I was trying to avoid that part ha. In to Kellogg & CBS v. Mccombs for $$$[/quote]


Glad you shared.. we're in a similar boat. I'm happy to chat. I'll PM you.
1 KUDOS received
Manager
Manager
avatar
Status: Helping People Ace the GMAT
Affiliations: GMAT Prepster and Stratus Prep
Joined: 16 Jan 2013
Posts: 140
Location: United States
Concentration: Finance, Entrepreneurship
GMAT 1: 770 Q50 V46
GPA: 3.1
WE: Consulting (Consulting)
Followers: 7

Kudos [?]: 39 [1] , given: 4

Re: Top 7 no money vs. $100,000+ lower top 20 [#permalink] New post 29 Mar 2013, 07:16
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Having been through the process, I will tell you that non-traditional career paths are all about networking. Your best bet is probably to pack your bags for New York because it has the largest market for PE. The start-up community here is solid as well so I am sure there are VC opportunities if you look hard enough.
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If my response helps, please add throw me a kudos.

Jim Kernan is the Director of GMAT Operations at Stratus Prep and author of GMAT Materials for GMAT Prepster.

Re: Top 7 no money vs. $100,000+ lower top 20   [#permalink] 29 Mar 2013, 07:16
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Top 7 no money vs. $100,000+ lower top 20

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