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Nov 2007:30 AM PST
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Learn what truly sets the UC Riverside MBA apart and how it helps in your professional growth
03 Feb 2011, 16:01
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josiebella
Hi Josiebella,
I completely understand why you're torn here, and I have a friend who may have to make this decision if she gets into a Consortium school with a tuition full ride after just having gotten into her #1 choice, Sloan, without assurances of scholarships yet. And if it's the difference of $100K, it's not a decision to sniff at. Most importantly, I don't think there is an absolute clear cut and/or right answer here.
There are few things to think about. First, think purely in a cold-blooded, financial way. Which option is best financially, long-term, after all is said and done. Of course, there is a whole lot of uncertainty with determining this, since all you really have is the average starting salary of both schools. You could build a DCF off of that and see if there's a difference. It's really hard to figure out exactly what the Columbia brand vs. the NYU brand is worth. However, I'm a big believer that for business school, the brand you have, the network you develop, and the first job you'll be able to get out of school (usually impacted by the first two) end up being the three most important things you'll gain from attending. In this case, I think the Columbia brand is worth more than the NYU brand, but I don't think anyone has quantified what the long-term value of that is specifically.
I also think you have to take a very long-term view of this situation. It's not enough to wonder how you'll feel 2, 3, even 5 years after you graduate, and I wouldn't be surprised if you feel bad if you accept the more expensive option since your day-to-day life will be impacted quite a bit with let's say an additional $500/month in loan payments for the next 10 years or so. This is where I think the non-financial decision comes in. If you believe that you'll always wonder "what if," I personally think you have to go take the financial hit and go with your top choice. Remember, this isn't like buying a pair of cheaper jeans - there are no returns, and there are no second chances. If you're not the "what if" person, then I think you may want to go with whatever your financial calculations say to do.
Best of luck with this tough decision - I think (and I know you know) both are pretty good choices.
03 Feb 2011, 22:11
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thanks for the great ideas guys. it's definitely worth considering this issue seriously! i am pretty certain at this point that I am going to stck with CBS though.
04 Feb 2011, 12:09
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I am in a similar position. I just got a call from Duke with an offer for 1 year tuition. I am really hoping something comes through financially from Columbia because I'd prefer to go there.
