Appreciate all the feedback, guys. This is probably the most important decision I've had to make in my 26 years. Each proponent of each route brings up valid points, and I figure I should clarify some issues by creating a list of pros and cons for each path:
The case for FT:- Financial sunk costs. Yes, I know that shouldn't matter, but for someone so focused on ROI of everything I do, it affects me. In total, I've paid around $4k in app fees, travel costs for school visits/interviews, etc. Not to mention, Cornell has a $1,500 deposit from me.
- Time/energy/goodwill spent getting recommendations from current and past supervisors. Having these incredibly busy people write my recommendations was not an easy thing to do, and if I were to apply to PT programs a year from now, I run the risk of them not being as willing to help me out (I do think there's such a thing as recommender burn out!)
- I do want to switch careers. My background is 2 years Big 4 public accounting/CPA/2 years Corporate Finance in a planning, analysis, and budget role with a small public company in Silicon Valley. I'd like to move into IB/MC/IM, but obviously, those positions will be INSANELY difficult to transition into given this climate and the fact that I won't be going to a top 5 school. Nonetheless, I will obviously have a much better chance at transitioning into those industries than I would doing a PT program.
- I did receive a $30K scholarship from Cornell, which will help immensely in bringing down the cost to attend.
- I've created some pretty nice bonds with both current students in the program and potential classmates I met at the Park Fellowship finalist weekend.
- Networking...I'm not a HUGE believer in the notion that a FT program offers that much more in the way of networking (and whether such a nebulous concept is a reason to ante up such a huge financial investment), but it is something to consider.
- While a PT program is significantly easier to get into than FT, there's no guarantee I'll get into Haas/Anderson next year should I apply (26/m/3.6/710)...I know those stats are above the mean, but my age and relative inexperience in the workforce compared to the profile at a typical PT program could hurt me (Haas avg. age is 32 and UCLA 30). So part of me doesn't want to 'risk' passing up a Cornell admit w/ $$...
- I honestly can't wait to leave my current company. Bored of the work, not a fan of the people, not a fan of the salary. I don't know if I'd be happy being here beyond July (which is when I planned on leaving).
- I wouldn't be getting tuition assistance if I stay w/ my current company.
The case for PT:- ROI, ROI, ROI. I'm a numbers guy, and nothing means more to me than the ROI of any decision I make. People talk about the "intangibles" of doing a FT program vs. PT, but if it's unlikely that I'll be able to land an IB/MC/IM job, my ROI of doing a PT program trumps that of doing a FT program but coming back to a similar role in corp finance.
- Company I work for now is stable, and I don't foresee layoffs happening.
- Although it's a risk as I mention above, I'm pretty confident I could get into Haas or Anderson PT given my stats and profile.
- I don't have a family so the time sacrifice of doing a PT program wouldn't impact me much.
- I'd like to stay in California short and long-term...was waitlisted at Haas and didn't apply to Anderson FT this year..but if I get into one of their PT programs next year, the Haas/Anderson names trumps Cornell in California.
This is so tough....