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27 Mar 2018, 20:24
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Hey Guys,
Long-time lurker, first-time poster, I could really use your help on this.
Profile:
- 24-year-old White American Male
- 3.7 GPA
- 328 GRE (168V, 160Q)
- Only 22 months of working experience, would be 27 months when classes start this year.
- My formal work experience has been at regional banks in mortgage banking/loan analysis roles
- Outside of that, I have founded a couple start-ups and worked as a digital/creative consultant for small business and local politicians (building websites, logos, messaging, etc.). I've also hosted/run weekly stand-up comedy shows and won a few major storytelling competitions.
- Degree from a respectable state school. Studied Econ and Political Science.
Current Offers and Scholarships:
Olin - $50k over two years
Kelley - $30k over two years plus teaching assistantship worth approx. $16k
Mendoza - $60k over two years
Goals: Short-term I am trying to decide between pursuing a consulting role (I love working with businesses to solve their problems) or pivot towards to the tech industry to work in marketing role (preferably product manager). After gaining experience and establishing myself financially I'd like to move into the start-up space and found my own company.
TLDR: I applied in a pretty rushed fashion this year without doing enough research. I have received decent offers, but after taking my time to research, I'm worried I may be selling myself short and should instead work these next few months to improve my profile and apply to better programs in the fall. What do you think?
Long Version: So I got to the game late. I was talking to a friend last Christmas about my current job and what I wanted to do moving forward, and he advised looking at MBAs now rather than later. I looked at the employment reports, promptly started drooling, and decided he was right. I applied at the January deadline for Kelley and Mendoza, which basically gave me no real time for in-depth research. Because of my general ignorance, I decided to apply to top 25ish programs that gave me the best chance of getting a scholarship, as I don't have a ton saved up and had to make the numbers work. Yeah, I know, most people spend a long time applying to school and this was dumb. I agree. After looking at employment reports I assumed that MBA programs were a lot like undergrad programs, where there is really not a huge difference income wise between the top 25. The difference between the median consulting starting salaries for Kelley and Tuck is only 7k, right? It was only after looking at salary info over time that showed me how different the degrees were. (I should've come here earlier lol)
So, despite my short work experience, state school education, and GRE in lieu of a GMAT, I have received the offers above. They are pretty good, any of them would elevate me out of my current job and get me closer to my goals. But now I'm starting to worry I've sold myself short. My gut is telling me to take this year, buckle down, improve everything on my application that I can, and shoot for better schools in the fall (Yale, Ross, Tuck, maybe Haas or Kellogg). At worst, I get rejected and just reapply to the schools above, right? However, I come from a pretty poor place and my parents are nervous about me turning down so much money.
What do you guys think? Any opinions would be massively appreciated, this site has already helped me a ton.
Thanks!
Long-time lurker, first-time poster, I could really use your help on this.
Profile:
- 24-year-old White American Male
- 3.7 GPA
- 328 GRE (168V, 160Q)
- Only 22 months of working experience, would be 27 months when classes start this year.
- My formal work experience has been at regional banks in mortgage banking/loan analysis roles
- Outside of that, I have founded a couple start-ups and worked as a digital/creative consultant for small business and local politicians (building websites, logos, messaging, etc.). I've also hosted/run weekly stand-up comedy shows and won a few major storytelling competitions.
- Degree from a respectable state school. Studied Econ and Political Science.
Current Offers and Scholarships:
Olin - $50k over two years
Kelley - $30k over two years plus teaching assistantship worth approx. $16k
Mendoza - $60k over two years
Goals: Short-term I am trying to decide between pursuing a consulting role (I love working with businesses to solve their problems) or pivot towards to the tech industry to work in marketing role (preferably product manager). After gaining experience and establishing myself financially I'd like to move into the start-up space and found my own company.
TLDR: I applied in a pretty rushed fashion this year without doing enough research. I have received decent offers, but after taking my time to research, I'm worried I may be selling myself short and should instead work these next few months to improve my profile and apply to better programs in the fall. What do you think?
Long Version: So I got to the game late. I was talking to a friend last Christmas about my current job and what I wanted to do moving forward, and he advised looking at MBAs now rather than later. I looked at the employment reports, promptly started drooling, and decided he was right. I applied at the January deadline for Kelley and Mendoza, which basically gave me no real time for in-depth research. Because of my general ignorance, I decided to apply to top 25ish programs that gave me the best chance of getting a scholarship, as I don't have a ton saved up and had to make the numbers work. Yeah, I know, most people spend a long time applying to school and this was dumb. I agree. After looking at employment reports I assumed that MBA programs were a lot like undergrad programs, where there is really not a huge difference income wise between the top 25. The difference between the median consulting starting salaries for Kelley and Tuck is only 7k, right? It was only after looking at salary info over time that showed me how different the degrees were. (I should've come here earlier lol)
So, despite my short work experience, state school education, and GRE in lieu of a GMAT, I have received the offers above. They are pretty good, any of them would elevate me out of my current job and get me closer to my goals. But now I'm starting to worry I've sold myself short. My gut is telling me to take this year, buckle down, improve everything on my application that I can, and shoot for better schools in the fall (Yale, Ross, Tuck, maybe Haas or Kellogg). At worst, I get rejected and just reapply to the schools above, right? However, I come from a pretty poor place and my parents are nervous about me turning down so much money.
What do you guys think? Any opinions would be massively appreciated, this site has already helped me a ton.
Thanks!
You'll get responses from people far better versed in your path but from my perspective you have a really good profile (I believe that's a solid GRE as well but have you tried gmat?) and you definitely rushed into MBA applications, presumably out of excitement like I did a year ago myself haha.
Now those are good schools, and you definitely hurt your future chances by getting in this year and rejecting their acceptance so you may have burned those options if you wait. BUT I concur with your feeling that you are likely better off giving it one more year of work, honestly you're several years below the average age but I know the feeling you have and it's very much a "I'm not waiting more than one year" feeling. But with what you've told us I think you can get into a few top 15 if not higher programs next year.
Piece of advice though definitely remember not to obsess with rankings as a lot of these schools can get you where you want to go. Some are a bit easier and obviously ranked higher for a reason but if you're saving close to $100k and think you can get where you want to go anyway that matters.
Now those are good schools, and you definitely hurt your future chances by getting in this year and rejecting their acceptance so you may have burned those options if you wait. BUT I concur with your feeling that you are likely better off giving it one more year of work, honestly you're several years below the average age but I know the feeling you have and it's very much a "I'm not waiting more than one year" feeling. But with what you've told us I think you can get into a few top 15 if not higher programs next year.
Piece of advice though definitely remember not to obsess with rankings as a lot of these schools can get you where you want to go. Some are a bit easier and obviously ranked higher for a reason but if you're saving close to $100k and think you can get where you want to go anyway that matters.
27 Mar 2018, 21:44
Kudos
Bookmarks
You come off very accomplished and seems you have done a lot.
However, you will be one of the youngest guys in the class. That will have an impact on the overall experience you’ll have during your MBA. Nothing hard work can’t fix and sounds like a sense of humor for it but still, connecting with the more established and mature candidates will take some time.
It really depends if you can wait a year and grow your profile. It doesn’t sound like you’ll have a problem with that but if you’re thinking of changing jobs or you feel that your industry may result in you getting laid off in the next six months, I would reconsider. However, I think you can do great, esp if you get planning early end get extra umph using a skilled consultant.
When I was applying, I could not wait. I was in a dead end job and needed to get away. My choice was pretty easy. I had three years of work experience at matriculation and even then I felt a bit lightweight compared to those who had five years of experienced and managed multiple teams. I have missed out on a lot of learning and reflection opportunities due to lack of experience (maturity too perhaps). Intimately, I have not failed enough by the time I was matriculating to get the full potential and benefit of an MBA.... food for thought.
Check out a few other discussions like these. They come up from time to time to see how things turned out.
Congrats on your admits and scholarships!
Posted from my mobile device
However, you will be one of the youngest guys in the class. That will have an impact on the overall experience you’ll have during your MBA. Nothing hard work can’t fix and sounds like a sense of humor for it but still, connecting with the more established and mature candidates will take some time.
It really depends if you can wait a year and grow your profile. It doesn’t sound like you’ll have a problem with that but if you’re thinking of changing jobs or you feel that your industry may result in you getting laid off in the next six months, I would reconsider. However, I think you can do great, esp if you get planning early end get extra umph using a skilled consultant.
When I was applying, I could not wait. I was in a dead end job and needed to get away. My choice was pretty easy. I had three years of work experience at matriculation and even then I felt a bit lightweight compared to those who had five years of experienced and managed multiple teams. I have missed out on a lot of learning and reflection opportunities due to lack of experience (maturity too perhaps). Intimately, I have not failed enough by the time I was matriculating to get the full potential and benefit of an MBA.... food for thought.
Check out a few other discussions like these. They come up from time to time to see how things turned out.
Congrats on your admits and scholarships!
Posted from my mobile device
