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Maryland ($$) or wait for a year

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noname007
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Maryland ($$) or wait for a year [#permalink] New post   19 Jul 2016, 09:19
Dear All,

I am a south african citizen but currenly working in investment strategy (but open to move to banking/consulting) for a niche firm in London and been wanting to move to the US for the last few months. After some chats, i was advised that directly getting a job (in banking or consulting) is close to impossible as i would need to be sponsored and I am much better off doing my MBA at a US school which should land me a job.

So did gmat last year (620), applied to quite a few schools in R2...got waitlisted at Tepper/Georgetown/Mccombs...re-took GMAT and got 690!!:). UNFORTUNATELY, that wasnt good enough to get admitted which was very disappointing as i was sure that if i got waitlisted at 620, i should get accepted at 690. However, I have been accepted at Maryland...and i could tell from the interview itself that they loved me so wasnt surprised with the offer.

So the question is:
1) Do i accept Maryland (something i need to decide asap to sort out visa etc.), graduate in 2018 and find a job afterwards
2) Wait to apply in R1 for 2017 with my improved score with the view to get admitted at a better school (no guarantee that i will get admitted). Also, in the meantime, try to job hunt directly in US through contacts/networking/referrals. If i get a job, great..else have MBA as the fallback option


So i have NO idea what to do:(

The second option seems the more sensible option but then i ask myself, is the gamble of getting into a better school worth it? will a better school make a big difference to job prospects post-MBA. Looking at employment reports, maryland seems to have a good job offer rate but i guess every university advertises it that way.

The other factor in my thinking is that i am turning 30 this year and since i have decided to move to the US and re-start my life there (after a break-up unfortunately), id rather do it sooner rather as opposed to wait for another year...

Sharing both my personal and professional dilemmas:-/ :)

Thanks in advance for any guidance!

Regards
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Maryland ($$) or wait for a year [#permalink] New post   19 Jul 2016, 11:22
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noname007 wrote:
Dear All,
Hi noname007,
Thanks so much for sharing your situation- and let me say on the personal side I'm sorry to hear about your broken relationship. While it is true that so much of the MBA journey is all about the work, your situation reminds us all that each candidate comes with a complex web of both professional and personal "situations" to be managed. As far as what to do, there is something to be said about being "wanted" as in the case of Maryland's offer to you.
However, your odds for this coming year are better in 2 ways- that 690 will open more doors and also being in Round 1 will open more doors also as in general your odds are improved. So while it is tempting to just start the new chapter, you have to ask yourself in the long run what "brand" do I want to be associated with and where do I want to network for the rest of my professional career. Only you know the answer- are your funds sufficient that you'd be ok paying for attending a higher ranked school if you get in next year? That extra year of work if you save more will help pay the cost. You may also secure another scholarship if you apply to some other safety schools in this upcoming R1. If it were me, I might want to roll the dice and see if I can go a little higher- but it really comes down to what feels right for you. And if you apply yourself you can get a good job from Maryland or from a higher ranked school so while it is painful to make these choices- at least you do have some great options to consider. If you really want to go for the gold ring, a firm like ours at Stratus Prep can help you put together your most compelling story and emphasize your key themes- you would have to do the introspection to best understand yourself and hopefully get clearer on whether you seek banking or consulting post MBA-- if you can drill into this more and really understand yourself better, that extra year to put forth your best application and get admitted to some really top programs might be your best move of all. We'd certainly love to do a free consult with you to explain how we help candidates- our website is StratusPrep.com.

Once you decide however, let me caution you to not look back. If you take the money and go to Maryland, embrace all that is there. Get involved, seek out hiring firms, drink it all in and don't look over your shoulder at what was behind door number 2.... And if you go back to Round 1 this year- forget about the $$ at Maryland and the what-ifs if you go through this again. You have even more experience this time around and with an earlier admit date you should present even better.

A lot of life is making the most of the opportunities in front of you and not playing the "what if" game. So best of luck making your decision and try to put the love life on the back burner... no need to let that broken relationship define you or get you to make another bad choice and hurry up and move on to something at Maryland just for the sake of wanting to get your life moving faster. Life has a way of moving on no matter what and I would really ask myself which option is going to position me best for the next 5- 10 yrs- not for just one year. Best wishes to you and seek us out if you'd like to talk more!
I am a south african citizen but currenly working in investment strategy (but open to move to banking/consulting) for a niche firm in London and been wanting to move to the US for the last few months. After some chats, i was advised that directly getting a job (in banking or consulting) is close to impossible as i would need to be sponsored and I am much better off doing my MBA at a US school which should land me a job.

So did gmat last year (620), applied to quite a few schools in R2...got waitlisted at Tepper/Georgetown/Mccombs...re-took GMAT and got 690!!:). UNFORTUNATELY, that wasnt good enough to get admitted which was very disappointing as i was sure that if i got waitlisted at 620, i should get accepted at 690. However, I have been accepted at Maryland...and i could tell from the interview itself that they loved me so wasnt surprised with the offer.

So the question is:
1) Do i accept Maryland (something i need to decide asap to sort out visa etc.), graduate in 2018 and find a job afterwards
2) Wait to apply in R1 for 2017 with my improved score with the view to get admitted at a better school (no guarantee that i will get admitted). Also, in the meantime, try to job hunt directly in US through contacts/networking/referrals. If i get a job, great..else have MBA as the fallback option


So i have NO idea what to do:(

The second option seems the more sensible option but then i ask myself, is the gamble of getting into a better school worth it? will a better school make a big difference to job prospects post-MBA. Looking at employment reports, maryland seems to have a good job offer rate but i guess every university advertises it that way.

The other factor in my thinking is that i am turning 30 this year and since i have decided to move to the US and re-start my life there (after a break-up unfortunately), id rather do it sooner rather as opposed to wait for another year...

Sharing both my personal and professional dilemmas:-/ :)

Thanks in advance for any guidance!

Regards
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Re: Maryland ($$) or wait for a year [#permalink] New post   20 Jul 2016, 05:10
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noname007 wrote:
Dear All,

I am a south african citizen but currenly working in investment strategy (but open to move to banking/consulting) for a niche firm in London and been wanting to move to the US for the last few months. After some chats, i was advised that directly getting a job (in banking or consulting) is close to impossible as i would need to be sponsored and I am much better off doing my MBA at a US school which should land me a job.

So did gmat last year (620), applied to quite a few schools in R2...got waitlisted at Tepper/Georgetown/Mccombs...re-took GMAT and got 690!!:). UNFORTUNATELY, that wasnt good enough to get admitted which was very disappointing as i was sure that if i got waitlisted at 620, i should get accepted at 690. However, I have been accepted at Maryland...and i could tell from the interview itself that they loved me so wasnt surprised with the offer.

So the question is:
1) Do i accept Maryland (something i need to decide asap to sort out visa etc.), graduate in 2018 and find a job afterwards
2) Wait to apply in R1 for 2017 with my improved score with the view to get admitted at a better school (no guarantee that i will get admitted). Also, in the meantime, try to job hunt directly in US through contacts/networking/referrals. If i get a job, great..else have MBA as the fallback option


So i have NO idea what to do:(

The second option seems the more sensible option but then i ask myself, is the gamble of getting into a better school worth it? will a better school make a big difference to job prospects post-MBA. Looking at employment reports, maryland seems to have a good job offer rate but i guess every university advertises it that way.

The other factor in my thinking is that i am turning 30 this year and since i have decided to move to the US and re-start my life there (after a break-up unfortunately), id rather do it sooner rather as opposed to wait for another year...

Sharing both my personal and professional dilemmas:-/ :)

Thanks in advance for any guidance!

Regards


Hello noname007,
I just want to keep this simple. Talk to people who are in the job you want, and find out of Maryland 690 will work. This might make the decision a lot easier.

1) Get clear on your career goal. This is important for many reasons. For investment banking (generally) and consulting (for MBB - always) there's a GMAT cutoff of 700 if you attend top ten schools and 720 top 20 schools. So you might actually need to retake it again to accomplish your goal.

2) Also, you really need to be clear (and excited) about your goal in order to write a compelling essay for the admissions committee. If you try to fake it, it shows, and they know. Work with a career coach if you need to.

Good luck to you~ PM me if you like
Farrell
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Re: Maryland ($$) or wait for a year [#permalink] New post   21 Jul 2016, 22:17
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If your goal is a career on wall st I would consider applying next year and trying to improve your GMAT score. A higher score will make you competitive for schools with better access to Wall St. jobs and higher rankings. Whatever your next step is make sure you are passionate about it because you really do not want to live with regret!
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Re: Maryland ($$) or wait for a year [#permalink]
21 Jul 2016, 22:17
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