Georgetown w/ $$$ or Reapply

Question

I currently work in the DC area. I've recently been accepted to the GT Part-Time MBA program starting Fall 2016. My current employer is offering to pay $25K a year for me to complete my MBA at GT; however, this also means a two-year retention upon completion. The GT MBA Est. Time to Completion is 3 years from start.

Ultimately I would move into consulting. Ideally with a top firm.... Bain, McK, etc... Currently I work for a large Aerospace & Defense Corp.

So my question is this. Should I attend GT part-time while continuing to work with my current employer for the next 5 years (3+2 Year Ret.) for the added benefit of nearly free tuition + reg. Salary or Re-apply to the top 5 MBAs for the Fall of 2017 and potentially go into debt for a Full-time MBA from a Top Tier business school?

My stats are:

Bachelors in Mech. Eng. - Major GPA 3.57 - Overall GPA 3.41 - (Cum Laude) - Auburn University

Masters in Mech. Eng. - GPA 3.90 - Georgia Inst. of Technology

GRE Q:168 V:164

Excellent LORs & Leadership experience both inside and outside of work

Your thoughts, questions and opinions are welcome

Thanks,
Nathan

Thanks, Nathan

Mo2men · Answer

Hi Nathan,

1- What is your total work experience till now?
2- Suppose you do not accept GT offer this year, and apply in top 5 next year but rejected or not get what you need, would your employer withdraw his sponsorship in future for any MBA part time programs?

nsullivan · Answer

Thanks for the response Mo2men.

- As for work experience I have 3 years with a Fortune 100 Aerospace & Defense Corp. including my time as an intern and an internal promotion. Prior to this I interned at a Nuclear Facility and worked part time as a Research Assistant at Auburn.

- While I'm not sure if I can defer my admission at Georgetown for a year, my employer will sponsor me next year should I decide to go part-time then.

Mo2men · Answer

Hi Nathan,
It is good to know that your employer will sponsor you any way, if it is part time decision.

Your WE might be a concern for some universities as average WE is around 5 years, unless you have solid and exceptional story. From my view, you can wait a little bit to reinforce your resume. You have already done a great job with GRE score. When you get seasoned in business, you maximize the benefit from MBA. This was an advice I got from my mentors.

You can post the same inquiry in ask admission forum. You may get another view that help you.

ask-admission-consultants-124/?fl=menu

nsullivan · Answer

Thanks for the advice! I think you make a great point. I'm hoping my WE won't be a weak point in my applications, but its definitely worth more consideration.

-Nathan

bb · Answer

You need to figure out a strategy for your re-application as it has a number of risks, steps, and consideration:

As to waiting another year, it is always hard to estimate. You may get into HBS next year or may not get to Georgetown full time even. Really depends on your profile and how you feel about chances. Keep in mind that PT is easier to get in usually and is less competitive and more people get dinged from Top 5 than admitted... many factors are involved.

On the positive side, you are likely to get admitted again next year as long as you exit gracefully this year (if you don't, they won't waste their time again).

Something else to keep in mind is that PT programs usually do not try to help applications with Job placements since you do have a job already. This is not bad per se as you can usually attend networking and other sessions but they won't invite you to the on-campus hiring events or such. Keep this in mind about PT programs.

Congratulations and Good luck!

nsullivan · Answer

Thanks, that's really great advice. I've ran through the numbers a few times trying to calculate the risk to reward ratios between the two options as well as the overall ROI for each school. From my calculations, it seems as though GT will definitely offer the LOWER RISK option as well as the higher INITIAL ROI.

However, assuming I am accepted to a top 5 MBA School, picked up by a top consulting firm and that my calculations are correct, then the ROI would flip to favor this route around my early 30's. Essentially HIGHER RISK but HIGHER REWARD option.

I think you make an excellent point on exiting "gracefully this year". By hedging my bets or deferring my enrollment 1 year at GT, hopefully, should I not be accepted to a top MBA, I could at least return to GT next year.

I have one more question for you guys. I have a M.S. in Mechanical Engineering from GATECH (Top 5 program). Is there any chance I could leverage this degree to my advantage, ideally landing a TA/RA position in the engineering school (i.e MIT) for a tuition reduction???

Thanks,
Nathan

bb · Answer

I don't think you will have a chance to jump from one school (Bschool) to another (e.g. Engineering or something else). Your only option for a TA position would be within the Business school, and yes, many schools offer them but the rate is not something to write home about. I think you will get $25-35/hr at best, and then you will only be getting 10 hours a week of work time. It is worth it but not a major budget supplement.

Good Luck!

P.S. Georgetown is unlikely to offer you a deferral. Most schools won't.

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