M7 VS TOP 15

Look at this problem less from prestige of school, but what will you potential gain/risk by delaying start of MBA by 1 year for a potential at a better school.

Gain:
* Bragging right of attending Kellogg vs. Fuqua/Ross.
* More work experience, which may translate into better job opportunity post graduation. Every year of business related experience makes you much more savvy in navigating corporate politics. The difference between these school's ranking has minimal impact on your ability to get placed (all things equal).
* Potentially getting into higher ranked school.

Risk:
* Worst job market at graduation. Let's face it, 4 years from now, we are likely to be staring at a economic correction. Not to say the chances are lower in 3 years (matriculate 2018, graduate 2020).
* More competitive b-school market. Admission is based as much as supply & demand, as it is on candidate quality. I remember it was ridiculously difficult to get into top tier school during the great recession, because everyone (laid off bankers, etc.) were all applying to b-school. Acceptance back into Fuqua/Ross after you turn them down will be more difficult, because schools do play the yield management game.
* Life changes make you less suited for M/B/B. If you get married, or have kids, it's really tough to manage any consulting lifestyle as an entry-level consultant. Employers can't discriminate on age, but make no-doubt, it's considered.

Other Points:
Better students? Maybe, depending on how you measure student quality. You are thinking better students = better academics; my opinion is that the academic experience is probably very similar. You may even get better teaching at smaller top 25 schools than at bigger elite school. If you are thinking better students = better connection = better alumni, that's more likely true. The caveat is the alumni willingness to help current students. Also, connection your can leverage with your classmate depends on your true inner circle of friends who will pull for you.

Great points. I also think that delaying your next career move by a year is very costly from a lifetime value perspective. Going to business school one year later means delaying your post-school plans by a year, including your potential retirement. A year of your life is something you can never get back. If you think you should go to business school, go to business school early.

If you're MBB material, wherever you go you will be MBB material. The average student will be different, but you yourself won't. The advantage in going to a better school is you're surrounded by smarter, more accomplished individuals in general, an experience that may affect your inspirations and aspirations. That said, Fuqua is just as good as an M7 school. Not quite sure about Ross though.

What bothers me the most is that every student seems to defend their school and won't even share what they don't like about their school. A Ross student(my friend), told me that most of their students work in Chicago offices!
I started to understand that MBA selection process is not purely meritorious and several factors like diversity come into play. I think it would be foolish for companies to hire only at M7 schools assuming that they have better intellectual horsepower/leadership skills. My numerous conversations with students from Kellogg and Ross solidified that belief. That being said, I can clearly see the culture difference between Kellogg and Ross. My visit to Ross gave me an impression that students tend to hangout within their own cultural groups ( Asians hanging out with Asians, Indians with Indians etc), I may be wrong though.