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chromium73
Joined: 08 May 2011
Last visit: 21 Oct 2024
Posts: 216
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Given Kudos: 3
Location: United States
Concentration: International Business, General Management
Schools: Wharton '16 (M)
WE:Analyst (Finance: Venture Capital)
Updated on: 19 Dec 2013, 11:10
Originally posted by chromium73 on 18 Dec 2013, 18:29.
Last edited by chromium73 on 19 Dec 2013, 11:10, edited 1 time in total.
Last edited by chromium73 on 19 Dec 2013, 11:10, edited 1 time in total.
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As the dust settles over the MBA process, I am facing a quandry, albeit a good one. I was accepted to Wharton with no scholarship, and Booth with a $30,000 per year offer. I honestly expected to get nothing from any school, and was shocked and humbled to receive the Booth offer. My post-MBA goal is private equity or general management.
When I try to extrapolate what $60,000 really means, its an absolutely huge number that I feel could have a large impact on my life. I'd need to make $100,000 pre-tax to pay off the principal, not to mention the impact it would have on my credit score, monthly expenses, etc. I am married and there is a chance my wife does not work during my studies, so that is another consideration. The cost of living between Chicago and Philadelphia isn't all that different, but Chicago also does offer the possibility of rooting down long-term. Also, PE is very hard to continue in after an MBA, and there is no guarantee I can continue.
Thoughts?
When I try to extrapolate what $60,000 really means, its an absolutely huge number that I feel could have a large impact on my life. I'd need to make $100,000 pre-tax to pay off the principal, not to mention the impact it would have on my credit score, monthly expenses, etc. I am married and there is a chance my wife does not work during my studies, so that is another consideration. The cost of living between Chicago and Philadelphia isn't all that different, but Chicago also does offer the possibility of rooting down long-term. Also, PE is very hard to continue in after an MBA, and there is no guarantee I can continue.
Thoughts?
18 Dec 2013, 22:28
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Congratulations! I love this time of the year with all the choices. Reminds me getting a big box of chocolates and deciding which one to eat first.... not quite the same though. Quick question about your plans:
You said you wanted to get into PE after MBA
However, then you said this:
Both schools are financial power houses. Booth is very strong in Chicago and Wharton is strong on the East Coast. Wharton has been taking heat and criticism all the years since the 2008 financial crisis and I think there is still a cloud hanging over the reputation and the fact that placement numbers lag is not the problem with the cadre (don't think you will be special).
I think the lifestyle in Chicago would be better than what you would find in PHL. You can live in Chicago downtown which provides for all there is to offer in downtown, makes a great commute and keeps you plugged in with the students (I believe Aqua is one of the "official" residences for the bschool students... it ain't cheap though - around $2,500 for a one bed-room.)
Most folks don't stick around PHL, and even though Chicago is not the end point for all Booth grads, I have a feeling more people do stick around and call it home. If you graduate from Booth and stick around Chicago, you have a great support network.
Having said that, in the grand scheme of things, the differences between the schools are pretty minor. It is not like you are comparing a top 10 school and DeVry University. These are two amazing schools and programs and neither will be a mistake, will just lead you a different path, and there are many paths to the same end goal that offer different experiences that bored forum posters like me may not take into consideration
Congratulations and good luck!
I vote for Booth
You said you wanted to get into PE after MBA
Quote:
However, then you said this:
Quote:
Do I interpret correctly that subconsciously you are thinking about general management?
Both schools are financial power houses. Booth is very strong in Chicago and Wharton is strong on the East Coast. Wharton has been taking heat and criticism all the years since the 2008 financial crisis and I think there is still a cloud hanging over the reputation and the fact that placement numbers lag is not the problem with the cadre (don't think you will be special).
I think the lifestyle in Chicago would be better than what you would find in PHL. You can live in Chicago downtown which provides for all there is to offer in downtown, makes a great commute and keeps you plugged in with the students (I believe Aqua is one of the "official" residences for the bschool students... it ain't cheap though - around $2,500 for a one bed-room.)
Most folks don't stick around PHL, and even though Chicago is not the end point for all Booth grads, I have a feeling more people do stick around and call it home. If you graduate from Booth and stick around Chicago, you have a great support network.
Having said that, in the grand scheme of things, the differences between the schools are pretty minor. It is not like you are comparing a top 10 school and DeVry University. These are two amazing schools and programs and neither will be a mistake, will just lead you a different path, and there are many paths to the same end goal that offer different experiences that bored forum posters like me may not take into consideration
Congratulations and good luck!
I vote for Booth
chromium73
Joined: 08 May 2011
Last visit: 21 Oct 2024
Posts: 216
Given Kudos: 3
Location: United States
Concentration: International Business, General Management
Schools: Wharton '16 (M)
WE:Analyst (Finance: Venture Capital)
19 Dec 2013, 07:58
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bb
Thanks bb.
Here are my thoughts.
PE: A lot of money, interesting problems. Minimal job security, large execution risk post MBA. Brutal hours if its anything like my current gig where if I'm home before 11PM I'm celebrating.
GM: Operational exposure, top flight companies, opportunities for career progression. Opportunity to work in cities with lower cost of living and tighter communities. I may be crazy but I'd live in Minneapolis over New York if I could and have a backyard and two dogs. I guess I'm lame.
I won't decide on an answer to this question in the next 2 months, its more existential. I just want to enjoy my MBA experience. I think I leave both of these options open with either school.
