srjaidev wrote:
DardenFY wrote:
Can you write a bit about your background and post MBA interests? I'll try not to be (too) biased.
Thanks and congrats!
The cliched stuff you hear from almost every Indian IT MBA candidate.
I have 4 years exp in Software Engineering and would like to move to MC.
I understand that on face value, Darden is much better than EMory but there is a huge increase in the loan I would have to take if I go to Darden.
I am from India and for an Indian that is a really huge amount of money. I plan to work in the US post MBA and am open to staying there till I pay back the loan. So what I wanted to know is what does say 90-100K additional loan mean in the US? How much time does one usually take to pay off this additional amount? Does Darden's brand and other (if any) advantages over Emory cover for this amount of money and time (time I may have to wait in case I wanted to change my plans and move to India or do something financially straining like an own business)?
Here's my take before the other Darden student jumps in. Management consulting is a tough field to get into, first of all and I'm sure you're aware of that, so always have a backup just in case things don't pan out. I quickly glimpsed through the employment statistic at Goizueta and found out that a healthy list of the same consulting firms recruit at Goizueta as they do at Darden (e.g. Accenture, Deloitte, McKinsey, Bain). However, while being completely objective, I don't see some other big names on there, names such bas BCG, AT Kearney, or Booz (note: not Booz Allen Hamilton, which actually goes to Goizueta but not Darden, but not anyone I know would trade commercial engagements with federal ones). So I'm seeing some disadvantage in Goizueta. Surely there are opportunities at Emory since 33% of its student enter the consulting practice, which may or may not be the traditional management consulting (could be internal consulting) but nonetheless, still an impressive statistic. Darden has a huge brand name, and I'm not trying to boast, but definitely carries a "stronger" name than Goizueta. Darden has a bigger list of consulting firms coming to recruit. So from a career standpoint alone, Darden should be your first choice.
To answer your other question: 100k (assuming you can pay for your own personal expenses, otherwise, tag on another 60k on the 100k and make it 160k for tuition + personal expenses), you're looking at around $1,100 to $1,200 a month of loan payment for 10 years (you can get this number using any of the online calculators for student loans). At 160k, you're looking at around $1,700 to $1,900. So you definitely need to consider how much scholarship you're getting at Goizueta. Again, a quick glimpse from Emory's employment statistics tells me that that
average MBA salary between Goizueta and Darden is similar, at around $105,000 a year. You will be able to pay off even $1,900 a month for 10 years if you're making a base salary of $105,000. So I think at the end, it will really depend on you in terms of how comfortable you are with 100k loan and how much you want the brand name. Glad to provide more perspective if you wish.