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Simon Rochester ($$$) or reapply next year to top 15 program

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Simon ($$$) or reapply next year?

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Intern
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Joined: 18 Mar 2018
Posts: 11
Location: Indonesia
Concentration: Finance, Strategy
Schools: Simon '21 (A$)
GPA: 3.53
WE: Investment Banking (Investment Banking)
Simon Rochester ($$$) or reapply next year to top 15 program  [#permalink]

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New post 27 Feb 2019, 23:10
Hi everyone, I only applied to one school, which is Simon, this year and I got accepted with a 75% scholarship.

Actually due to my unexpectedly low gmat score in December, I could not apply to other schools last January. However, Simon encouraged me to apply and submit a new test score within January so I submitted my application. It is also because I met with the adcom on an event and I became attracted to the school. I then retook my gmat test on January and submitted the new score (managed to score way higher but still less than 700) and got accepted with scholarship.

I honestly like the program. It is STEM designated, the career center is supportive, all current students have positive reviews on the school, and even every person I interacted with, including those from admission office, are very, very nice and supportive. The scholarship is such a big help because I most probably have to apply for a bigger amount of loan in top schools. There's also another thing to consider. I resigned from my job end of December 2018 so going for an MBA this year will be ideal for me instead of trying to find new job and then leave the job for MBA next year.

However, I am an international student and I want to enter Consulting or Investment Banking after my MBA. Getting my MBA from a lower ranking schools worry me a lot because I used to only target top 15 and I believe brand name of MBA is important. The consulting I'm talking about here is not MBB. I am only targeting the second tier consulting or boutique IB firm (though I realize it will be also hard to get into, especially if I come from a lower ranking school). If I go to Simon, I will have to hustle a lot more compared to if i'm going to top schools. There are also very few (if not none) IB firms/consulting firms coming to Simon for recruitment.

I am pretty sure that if I dedicate more time to study I will be able to get 700+ on gmat. I have an international experiences and I worked on cross border transactions. Here's my current stat. GPA 3.53, GMAT 670, WE 48 (consulting, investment banking).

If you were me, will you go with Simon or try applying to top schools (my target is Tuck, Fuqua, and Yale) next year?

Thank you everyone.

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Re: Simon Rochester ($$$) or reapply next year to top 15 program  [#permalink]

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New post 01 Mar 2019, 10:51
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Man, this is tough.

If it weren’t for you resigning from your job, I’d say it’d be worth rolling the dice to re-apply. But since you did, and your job future is uncertain, that might negatively impact your application (if you get an irrelevant job, lesser title, you hate it and have to spend a year in misery, etc.)

I understand your trepidation with Simon vs. trying a “better” program, but there’s really nothing wrong with going there with a scholarship. They seem to be trying to innovate over there, so it could pay off in the future. Not a bad program at all. Also, something *could* happen to you that’ll detract from your mobility in the next year (you get married, have a child, etc.)

But yeah, at this time, you’d have to hustle much more to get interviews compared to a Top 15 (in my opinion at least). That isn’t always a bad thing though. It might lead you to be more prepared during the interviews themselves.

Just remember that if you do decide to enroll and go to Simon (or anywhere else), there’s no going back. If you feel in your heart that you could get into other schools that fit your aspirations, it’ll be a thought (I could have ___) that’ll stick in the back of your mind for a while. Maybe forever. Sometimes it’s nice to know that you tried and failed than never trying at all.

PS. If you do decide to re-apply, apply to more than one school lol.

I think the lack of replies on this thread is due to this just being a tricky situation, but I thought I’d give my thoughts. Good luck.

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Re: Simon Rochester ($$$) or reapply next year to top 15 program  [#permalink]

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New post 01 Mar 2019, 13:34
2
Yeah.. this is a tough one.
Agree with ChipSkylark on the points. I thought about this yesterday but eventually didn't post because I wasn't sure what to suggest.

I think two more things you can think about while making this decision, apart from the regular stuff, are -
1) Jeff Bezos "minimizing regret" strategy towards life. Which decision is more likely to cause less regret later on?
2) Current self-esteem levels - how secure and confident are you about yourself currently (background, career etc)? If you think you really need the T15 "brand" & "prestige" to feel better about yourself, then it might be worth waiting it out. If you are generally pretty secure and self-confident, then you can go to Simon and work your ass off to get the best opportunities possible.
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Re: Simon Rochester ($$$) or reapply next year to top 15 program  [#permalink]

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New post 01 Mar 2019, 14:15
2
Congratulations on getting into Simon! and a scholarship too! Great job!
In no contradiction or agreement with previous opinions ;-) I would like to express mine:

1. Simon is good about finance but it is a bit old school in terms of research/etc
2. It has a very heavy skewed towards international students - 47% (half of the class)
3. They report pretty strong employment numbers but keep in mind that is not 100% of class reporting, that is reporting from people who chose to reply to a survey so someone who has not found a job may not have chosen to respond per se
4. As an international, you WILL have a harder time finding or converting opportunities - anything from Visa issues to small talk and interviewing skills (unless you are good at small talk, elevator pitches, interviewing, etc)
5. Your WE seems very strong from what this shows. However, the GMAT is the lacking part (not sure about essays or applications). YOu have to think whether you will be able to improve your GMAT and overall application to get into higher-ranked schools. I would say it would not be worth trading a full scholarship at Simon to a no-scholarship offer at Foster or Marshall for example but it would be worth it for an offer at a Top 10-15 school as the on-campus recruiting opportunities are significantly improved and your chances of a better internship, starting job, and starting salary are all better. So i would consider your application in light of - can you get a 740 to qualify for a Top 10-15 consideration? Can your application stand a chance? (an admissions consultant could offer you insight for a small fee potentially).
6. P.S. the rule of thumb is - don't apply to a school you are not willing to attend. In this case, you did apply to Simon, got a full scholarship and now having second thoughts. This would be something to consider ahead of time.

In summary, if you feel you can put the effort and improve your score meaningfully (at least 70 more points) and likely shore up your application somewhat, and you can wait a year, and you are comfortable, you could consider taking a risk of reapplying. There are benefits beyond just a nice name on the resume esp for someone who is trying to break into elite industry such as IB. (Consulting is more mainstream but MBB is elite as well.)
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Re: Simon Rochester ($$$) or reapply next year to top 15 program   [#permalink] 01 Mar 2019, 14:15
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