Loyola or Depaul or UIC???

Question

Hi guys. Is there anyone who's attending Loyola, Depaul, IIT or UIC Part-Time MBA program in Chicago area? These are my comfort zone schools and I'm really interested and hoping to go to Loyola since my employer pays for full tuition if I decide to go to Loyola. Here are some of my questions for Loyola which can also apply to Depaul, IIT, and UIC.

1) Career Services: Is it that bad as it is explained in a lot of the college review articles?

2) Job Prospect after graduation: Are you guys worried or can't wait til you graduate? Are there a lot of companies recruiting on campus? even for Part-Timers?

3) I'm interested in MIS concentration. Which of these schools have better MBA in MIS concentration?

Thanks in advance!

TheDan666 · Answer

I just finished my part-time MBA from DePaul last Spring. Regarding your questions:

1) Career Services
Hard for me to say since I didn't use them since my company was picking up a large part of the tab for my tuition. From the communication from DePaul and talk with other classmates it seemed like there were companies coming and networking events etc. However, at Depaul at least I'd say part-time makes up almost 90% of the total MBA students. Most people I knew who were part-time weren't really looking to switch jobs (probably because the would owe their company money)

2) Had a job before I started. Still have that job. I will say that some of the of MS Finance people I knew weren't exactly having a lot of luck and that was in the Spring. Right now its gotta be horrible. But you're 2 years away so hopefully the market is better by then.

3) MIS concentration
I work in IT so I wasn't really looking to concentrate it. I did take one elective in IT Project Management. That class sucked heavily and was a waste of time. My impression of the classes offered in the MIS concentration based on looking at them was that they weren't particulary impressive. However, I think you could say that about any MIS concentration for someone who already works in it. I got the impression that there was nothing in those classes that I already didn't know. That's why I concentrated in finance. I didn't want to go to grad school for something I was already quite good at.

You might want to consider looking at the Depaul's CTI graduate programs. A lot more hardcore and technical. I've heard good things about it. (lloks like they just renamed it to the College of Computing and Digital Media)
https://www.cdm.depaul.edu/Pages/default2.aspx

Let me know if you have another questions.

I will say that free tuition is going to be a tough benefit for any school to overcome. I think DePaul is probably a better school than Loyola but not by a very large amount. Certainly not more than could be accounted for with a full ride. I can't really say a lot about IIT and UIC.

--The Dan

brandonslee · Answer

Thanks Dan. It seems like MBA in IS concentration is a waste of time? I don't know if this is specific to certain schools or it, in fact, is in general. If that is the case, I would consider doing something other than IS. Did you have to decide which concentration that you'll do right off the bat or can you choose later on? I know Depaul is a good school for business but if I have to pay out of my pocket, I have no choice but to choose Loyola. I'll apply to Depaul anyway so that I'll be covered in case I don't make it at Loyola. BTW, if you don't mind answering, what was your concentration, Dan? Did your concentration influence you what career path you're taking or what opportunities it brings?

Thanks in advance!

Thanks in advance!

TheDan666 · Answer

I can't speak for all people and all programs as it relates to IT concentrations in MBA schools. I'm a senior java developer. There is really not much they can teach me about IT that I already do not know. I chose to concentrate in finance because I work for a financial services company and it interests me. Basically, it would help in my current job and give me a way out of having to be a programmer for the rest of my life. I like where I work so it wasn't part of any plan to leave or anything.

At Depaul, you declare your concentration at the beginning but you can change it any time. I started off as Applied Econ and then switched. You can also do more than one concentration.

As for as picking between DePaul and Loyola, as I said before, you can't beat free tuition. DePaul is a probably a tad better than Loyola but no where near $60k better.

--The Dan

AM23Finance · Answer

Does anyone else have info on these schools as far as how appropriate each one would be for a student looking to get into investment management, corporate finance. I am looking for a couple good second tier schools in chicago after Chicago GSB and Northwestern, any other suggestions would be most appreciated. And to not hijack this thread please continue to answer the above posts, I thought creating a new post on this would be a waste but lets try and continue of this thread!

-Thanks!

-Thanks!

TheDan666 · Answer

I would imagine they are all are "appropriate" in that they teach the relevant information needed. Whether one is inherently better than others I can't really say with any certainty or without bias. You might want to take a look at this page which breaks down the finance concentration choices for an MBA at DePaul:
https://kellstadt.depaul.edu/Programs/MB ... ration.asp

You only need three for you concentration but you can certainly take more.

Also, you might also consider an MS in Finance as well if you're goals are specific enough.

Finally, here's an article about DePaul's new virtual trading room they just built:
https://www.pionline.com/apps/pbcs.dll/a ... 14/TRADING

--The Dan

AM23Finance · Answer

Hey Dan thanks for the info that trading room looks fantastic. I take it you are going to DePaul... Does anyone else have any insight, I'm basically looking to advance my career in finance, right now I do trustee work and have passed all III CFA exams so I looking to go to a b-school that would help me get into a front office type role easier...my first part time choice is Chicago GSB but I am looking at alternatives.

---Thanks again Dan!!!

---Thanks again Dan!!!

brandonslee · Answer

Wow~ That's pretty cool. Depaul is relly taking its steps to utilize technology in business. Virtual Trading rocks!

TheDan666 · Answer

Actually, I already graduated from Depaul's part-time MBA program last spring with a concentration in finance.

AM23Finance · Answer

Hey Dan congrats on getting that mba. Did you use the mba to enhance your current position, move into finance, or what exactly? And how was DePaul at providing you with resources to move into a career? I'm in a finance role now and am looking to get into a more front office investment decision making type role with an mba, I have already past all three CFA exams but the market is not great right now. But what I am worried about is getting pigeon holed into my current experiences and taking much less money for the type of role I am looking for. Any other insight would be much appreciated.

Thanks!

Thanks!

TheDan666 · Answer

I'd say I used the MBA at first as escaped mechanism from being a computer programmer. However, after I started working at my current company it began to be just to enhance my career there. I work at one of the big three credit rating agencies so having an MBA in finance certainly can't hurt.

As for DePaul helping me, I can't give you an answer as I was not looking to get a new job. I owed the company at a least a year of work for their tuition aid.

If you already have passed your 3 CFA exams I think you'll find MBA finance classes perhaps a little repetitive. You've kind of done it backwards in getting your CFA before your MBA. Take for instance getting a finance concentration at DePaul. Along with the Financial Management class that every student has to take, you need to take 3 finance electives to get your concentration. Compare that with the gigantic breadth of material that CFA exams cover. Maybe you just want an MBA now to get the more well-rounded education in other areas. You could also pursue an MS in Finance as well. You could also argue that having a CFA you don't need an MBA or any other graduatie degree. With the exception of a the elite schools (Harvard, Chicago, Wharton, etc) I would be more impressed by a person having a CFA certification than someone who had an MBA.

--The Dan

AM23Finance · Answer

Hey Dan thanks for the insight. I really appreciate it. Tough to tell if the CFA is really enhancing my job opportunities in this tough market, I only have 3 years exp. not the req. 4 so I can't use the CFA yet just that I passed all three exams so maybe that is hurting. Ideally I would like to go to Chicago GSB but I am not sure if I can get in, so I was trying to figure out which secondary school would be best Loyola, DePaul, or UIC. But yea I think the MBA will open more doors as far as networking and career help and becoming more well rounded, I mean maybe I'll concentrate on something different. Anyhow I need to do the GMAT here and then I would get a better feel for which schools would work. Thanks again.

brandonslee · Answer

Can anyone here attending or graduated from UIC's MBA provide some insight on the value of its MBA compared to Loyola's, Depaul's, or IIT's? In my thought, they're all in the same league in terms of academics but I'm more concerned with the value of its MBA and the career placement rating. My employer recently changed the tuition reimbursement policy due to economic hardship, so I no longer get the full ride to Loyola but a partial reimbursement of $10k/yr and mandatory 3 yrs committment after getting my MBA. After this recent change, Loyola is no longer my first choice. Instead, I'm leaning more towards UIC but would appreciate some feed back before I make my decision. Thank you in advance!

TheDan666 · Answer

Mandatory 3 years for only $10k a year seems hugely excessive. I think the standard is 2 years, and as I said at my company it was one year. Plus, you know that once you are done they can probably supress your salary because they know you can't leave otherwise you have to pay them back. I'm not saying your company is bad or anything but given their "deal" I might be of the opinion of just paying for it yourself with loans and having no strings attached. Given the schools you're looking at, they are going to be footing the bill for no more than 30-40% of the cost yet make you stay 3 years after you graduate (plus the 2 1/2 years you spend there while going to school). Sounds pretty crappy to me.

--The Dan

ZenMoney · Answer

Hi, I am hoping someone may be able to help me so I can decide if I should apply to graduate school now or later in life when I get more experience.

I am only starting my first real job out of college as a Revenue Tax Specialist for the states Department of Revenue. I am also a disabled veteran, I am fully functional and I am not disfigured (for your own information, whatever difference it may make). I graduated with a B.S. in Finance and a 3.4 GPA from a fairly good school. Also, I have done internships in financial planning and asset management.

I suppose my questions are the following:
Can I get into an MBA program with a good GMAT score now? or after 1, 2, 3 years of working this job? Do I need a better job and have to work it longer before I can be considered? I understand it depends on the particular school mostly, so let me consider ones in Chicago, since thats where I am, for example: University of Illinois is descent and is free since I am a Veteran on the other hand I would rather pay full-tuition to go to Northwestern or University of Chicago if I stand a chance in the near future. While DePaul, Loyola and ITT are better ranked then UIC I think I would take a hit in ranking for the fact it will be free for me. What do you guys think about my situation, or better yet, what would you do if you were me?

Any and all feedback are much appreciated and welcomed, thank you for reading.

brandonslee · Answer

I suppose my questions are the following:

Can I get into an MBA program with a good GMAT score now? 
--> Yes, but the chances are very slim for top 10 programs w/o any work experience.

or after 1, 2, 3 years of working this job? 
--> As far as I know, 3+ years of work experience is a minimum requirement for top 10 programs.

Do I need a better job and have to work it longer before I can be considered? 
--> If you want to go to either UC or NW, yes you'll need that minimum 3 years of experience. If you want to go anywhere else (i.e. Depaul, Loyola, UIC, ITT), I am pretty sure you can get by w/o any work experiences as long as you meet the avg. gmat score and good LORs.

What do you guys think about my situation, or better yet, what would you do if you were me?
--> I was in the same boat as you were exactly a year ago and now I'm at UIC's MBA program. The reason I chose UIC is because it offered me free tuition (I'm also a vet) and a joint degree program (MBA/MSMIS). I thought about going to NW PT program but I didn't want to carry another 100k of loans on top of my home mortgage, so I chose UIC. Although people say name value carries its weight for MBAs, I thought I can overcome the lack of UIC brand value with my experiences and a dual degree. Eventually, you'll have to make a decision based on a lot of data available to you. My two cent is you make a decision that you won't regret many years later. Good luck!

ZenMoney · Answer

brandonslee,

thank you for your response. Did you by chance use anyone in your military command to write LORs? Do you know if this would help us, or is it better to just stick to asking our undergraduate professors and/or employers? Any more non-personal information you would be willing to share about yourself would be greatly appreciated as well. Thanks again.

brandonslee · Answer

Personally, I got one recommendation letter from a doctor whom I knew through my little consulting business and one from work (from my boss). In my opinion, you get the best LOR from someone who knows you very well and knows you from business perspective. I think if you can get a great LOR from your commander or plt. sgt, you shouldn't really worry about it. Having honorably discharged from military tells admission committee that you're disciplined and getting a work-specific LOR from your commander or plt. sgt. would add an icing on the cake. You should be fine. If you are allowed to read the LOR before sending it off, please do so and read it as if you're an admission officer for that school. Based on what you've read you can provide some instructions on how to write your LOR to your recommenders. Good luck!

If you're interested in having a peek into my MBA journal, please visit my blog:
www.happysode.com

Loyola or Depaul or UIC???

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