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06 Jun 2023, 01:38
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Hi Experts,
Greetings!!!
I recently got an admission offer from the Iowa State Ivy MBA/MSF Dual Degree for Fall 2023. After scholarships and assistantships, I will have to pay only around $300 per semester and my dual degree will be completed in 24 months. But I also have an offer from Boston College for MS in Quantitative Finance (1-year full time) and to complete this program (fee + living costs, after accounting for scholarships and assistantship) I will have to take a loan of 55-60K with 15.5 APR from Prodigy. I am an international student from Nepal, and have a business background (BBA 3.7 GPA); I have a 700 on GMAT if that's relevant. Which program shall I choose? Personally, I want to go to Boston College, as I think it will be easier for me to get interviews with finance firms. I could not find many international Alumni from Iowa State MBA. I could not judge and compare both programs, so I need your help.
I understand that the program in Boston is very costly for me but a lot of people and websites say that (including ChatGPT), given its prestige, alumni network in finance, and program strength, it has a high chance of helping me in landing multiple interviews in finance firms, if not a job, in the hardcore finance roles (especially the investment roles). With that, I assume (which could be absolutely wrong) I may be able to cover the cost of the loan in 2-4 years. After that, I can have good growth prospects, given the Boston degree and the quality experience, eventually helping me get into Private Equity or Hedge Funds. But getting a job with a Boston degree is still not guaranteed, which nowhere is, and being an international student, its even harder, as I have heard.
And in the case of Iowa State, I do not know about the prospects. I talked to two MBA/MSF alumni from Nepal itself, and they first told me about the missed opportunities for not applying to better universities with a 700 on GMAT, and then they told me about their not-so-good experiences of not getting a single interview in financial service firms for even their internship. I myself could not find someone international with MBA from Iowa State, working in the field I desire. And to be honest, considering the cost, I want to go to Iowa State, (Full funding vs Loan), as I come from a cash-strapped family in remote Nepal. Taking a loan without any financial backup is gonna be a huge burden for me. Hence, if I can be assured that, given the right amount of networking and hard work and doing the CFA, I will be able to get similar career growth from Iowa as I would get form Boston, then Iowa State is a brainer for me. That's why I want your perspectives. Can I still make it into Wall Street (ideal) even if I get into Iowa State? If yes, how hard it would be compared to graduating with MS in Qt Finance from Boston College? What would you do if you were in my place? Please advise me, taking into account the long term. (say 20 years of career). Thank you.
Best Regards,
Mck2023
Greetings!!!
I recently got an admission offer from the Iowa State Ivy MBA/MSF Dual Degree for Fall 2023. After scholarships and assistantships, I will have to pay only around $300 per semester and my dual degree will be completed in 24 months. But I also have an offer from Boston College for MS in Quantitative Finance (1-year full time) and to complete this program (fee + living costs, after accounting for scholarships and assistantship) I will have to take a loan of 55-60K with 15.5 APR from Prodigy. I am an international student from Nepal, and have a business background (BBA 3.7 GPA); I have a 700 on GMAT if that's relevant. Which program shall I choose? Personally, I want to go to Boston College, as I think it will be easier for me to get interviews with finance firms. I could not find many international Alumni from Iowa State MBA. I could not judge and compare both programs, so I need your help.
I understand that the program in Boston is very costly for me but a lot of people and websites say that (including ChatGPT), given its prestige, alumni network in finance, and program strength, it has a high chance of helping me in landing multiple interviews in finance firms, if not a job, in the hardcore finance roles (especially the investment roles). With that, I assume (which could be absolutely wrong) I may be able to cover the cost of the loan in 2-4 years. After that, I can have good growth prospects, given the Boston degree and the quality experience, eventually helping me get into Private Equity or Hedge Funds. But getting a job with a Boston degree is still not guaranteed, which nowhere is, and being an international student, its even harder, as I have heard.
And in the case of Iowa State, I do not know about the prospects. I talked to two MBA/MSF alumni from Nepal itself, and they first told me about the missed opportunities for not applying to better universities with a 700 on GMAT, and then they told me about their not-so-good experiences of not getting a single interview in financial service firms for even their internship. I myself could not find someone international with MBA from Iowa State, working in the field I desire. And to be honest, considering the cost, I want to go to Iowa State, (Full funding vs Loan), as I come from a cash-strapped family in remote Nepal. Taking a loan without any financial backup is gonna be a huge burden for me. Hence, if I can be assured that, given the right amount of networking and hard work and doing the CFA, I will be able to get similar career growth from Iowa as I would get form Boston, then Iowa State is a brainer for me. That's why I want your perspectives. Can I still make it into Wall Street (ideal) even if I get into Iowa State? If yes, how hard it would be compared to graduating with MS in Qt Finance from Boston College? What would you do if you were in my place? Please advise me, taking into account the long term. (say 20 years of career). Thank you.
Best Regards,
Mck2023
06 Jun 2023, 07:36
Kudos
Bookmarks
Mck2023
Glad to see the amount of efforts you have put to evaluate both the admits! I think you have pretty much answered the question yourself, Boston College will be a better bet given its location and regional presence. The Iowa program will put you at disadvantage given the regional nature and lack of any financial hubs in the vicinity.
Would suggest you negotiate more aid, given your strong GMAT, from Boston College as that would make it a more obvious choice.
All the best!
06 Jun 2023, 11:50
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Hi. Congrats on your admits!
Great job!
I am not ChatGPT, and I would be curious which program it recommended but I think the choices a little complex for our poor artificial intelligence fellow. 😂
You are looking at an MBA and a masters program which tend to have different audiences and employers as well. Masters programs in the US traditionally are for people with little work experience and those going straight from undergrad. As the result of the recruiting and interviews and all the other opportunities are more geared towards junior associates basically starting out at the bottom. You have not mentioned the length of your work experience in your post so it’s hard for me to judge but if you are on the more experienced side, I would say the masters program is not the right choice.
Another aspect that makes the recommendation harder is that you have not mentioned your background or at least I have not found it in the post that you made. I would highly recommend structuring it and making sure you provide the details of your background, your goals, and what choices you have and then you can write all your thoughts about the choices and about cost and so on and so forth which honestly does not matter in my recommendation.
The structure in the topic kind of makes me wonder if you are switching industries into finance? Are usually finance people are very organized 😂
Here’s the thing, I’ve talk to a person from Kellogg and Columbia who have sent out the résumé to over 100 companies for an internship and they heard back from three. If you expect a company to give you an internship just because you went to a certain school, that’s not Quite accurate. It doesn’t matter if you want to Iowa or Chicago booth, if your résumé sucks, there are other applicants from Tepper or Ross who will have better resumes and who will get an invitation for an interview. It’s not very accurate to think that just having a school name will make a difference. What makes a difference is talking to the school alumni, networking with them, Learning more and getting referrals and applying intelligently. The school name matters in all the ways except the résumé. No one will recruit you just because you went to a certain MBA program or a masters program.
You have to ask yourself, why would an employer hire you? Why would they give you an internship, someone from a rural Nepal? What are you bringing to the table that someone from downtown New York is not? When you can answer that question, you’ll find a path to recruiting.
If you were young and looking to be a junior financial analyst role, you can go to the masters program. If you’re more experienced and you looking to be more on the business side, I would choose the MBA.
However, looking at the scholarships and cost consideration, I don’t think it’s even worth bothering with the MS degree.
Posted from my mobile device
Great job!
I am not ChatGPT, and I would be curious which program it recommended but I think the choices a little complex for our poor artificial intelligence fellow. 😂
You are looking at an MBA and a masters program which tend to have different audiences and employers as well. Masters programs in the US traditionally are for people with little work experience and those going straight from undergrad. As the result of the recruiting and interviews and all the other opportunities are more geared towards junior associates basically starting out at the bottom. You have not mentioned the length of your work experience in your post so it’s hard for me to judge but if you are on the more experienced side, I would say the masters program is not the right choice.
Another aspect that makes the recommendation harder is that you have not mentioned your background or at least I have not found it in the post that you made. I would highly recommend structuring it and making sure you provide the details of your background, your goals, and what choices you have and then you can write all your thoughts about the choices and about cost and so on and so forth which honestly does not matter in my recommendation.
The structure in the topic kind of makes me wonder if you are switching industries into finance? Are usually finance people are very organized 😂
Here’s the thing, I’ve talk to a person from Kellogg and Columbia who have sent out the résumé to over 100 companies for an internship and they heard back from three. If you expect a company to give you an internship just because you went to a certain school, that’s not Quite accurate. It doesn’t matter if you want to Iowa or Chicago booth, if your résumé sucks, there are other applicants from Tepper or Ross who will have better resumes and who will get an invitation for an interview. It’s not very accurate to think that just having a school name will make a difference. What makes a difference is talking to the school alumni, networking with them, Learning more and getting referrals and applying intelligently. The school name matters in all the ways except the résumé. No one will recruit you just because you went to a certain MBA program or a masters program.
You have to ask yourself, why would an employer hire you? Why would they give you an internship, someone from a rural Nepal? What are you bringing to the table that someone from downtown New York is not? When you can answer that question, you’ll find a path to recruiting.
If you were young and looking to be a junior financial analyst role, you can go to the masters program. If you’re more experienced and you looking to be more on the business side, I would choose the MBA.
However, looking at the scholarships and cost consideration, I don’t think it’s even worth bothering with the MS degree.
Posted from my mobile device
