Stay (Anderson) or Move (anywhere ranked higher than UCLA)

Question

Hey guys I need some advice. I am trying to decide if I should apply to Haas and Booth. I looked at the admissions average GMAT scores and GPAs and I really feel I have a shot at all 3 of those schools. I will be attending their respective PT programs since I do not have $100k saved up (not including tuition, just bills i.e. mortgage on current home etc x 24) I live in Los Angeles and obviously UCLA is close by, but considering that Haas/Booth/Kellog etc are ranked higher and offer PT programs I was thinking about possible moving to attend school.

I am not married, have a GF, but no kids or anything. I could request a transfer to pretty much anywhere in the US since I work for T-Mobile.

I took my GMAT the first time and got an awesome score of 580 =( but it was 45Q/25V. I didn't study verbal for more than 2 hours since I figured "hey it is english, can't be that tough"...oooooooooppppsssss! Obviously I am doing much better now, practice tests high 600s and I have about 8 weeks left.

LA to Berkeley move doesn't make much sense IMO, but then again it is Berkeley, but LA to Chicago/NY/etc... (if accepted obviously) seems like a smart move...what do you guys think? Any specific PT MBA programs I should look into?

Additional info:
Undergrad Major: Business Economics
GPA: 3.8
School: UC Riverside
Work experience: 12 Years, 10 years in management
Would like to get into consulting or finance in NY
If you need any other info let me know...

thanks for the input...

TheMBAist · Answer

With no disrespect whatsoever, why do you feel that your GMAT score would be sufficient for UCLA and/or above? The reason why I'm asking is because I have the same score as yours, and I have already assumed that UCLA and/or above is out of my reach.

As for your choices of school, if your goal is to get into consulting or finance in NY, I think it would be best for you to relocate to a school in the East Coast.

Av · Answer

UCLA has a solid part-time program, but (as always) it depends on what your post-MBA goals are. If finance is your primary interest, you should definitely be looking at Booth and UCLA.

With 12 years of work experience, your GMAT will probably be slightly less important, but you'll still want to get as close to 700 as possible.

feellikequitting · Answer

What's up Bro, Frankly in my opinion, because I'm in your own shoes; here's my honest and frank opinion.

1. Consider taking the GMAT again, score at least a 660+ the low gmat score will be offset by a good essay, and good gpa. Naturally a 700+ is the cherry on top.

2. As far as UCLA, or booth? booth, is good but for what? You have to determine what school is the best option for what you want to do in life. What's the point to attend a top notch school if mostlikely you won't attend a good program. 
Booth's management program is superseeded by a entreprenuership program that's known worldwide. Frankly, I had booth on my sights, but I dropped it, it's not worth it. For me, I'm a Finance Undergrad, with the same or more work experience, with that being said, you and I are both prime candidates for applying to these programs. If Management, you should consider the following schools.

Stanford/Manag
Wharton/Finance/Real Estate 
Columbia/Manag or Finance
Kellogg
HBS/Management
Yale/Management
Darthmouth (Why them, because they can offer full fellowships)
USC(Location)
UCI (Location)
Peperdine 12-18 Month full time MBA program (location)

I guess you need to assess your situation, but as for me. I'm ready to move across the country if Wharton Say's yes. 
If you wanted to stay, consider the westcoast schools, but if you want to see what your really made of, take a leap of faith bro. And Apply to at least 8/9 schools, apply for grants and fellowships, who ever say's yes to all these request from you, this should better determine your decision. IF HBS SAID YES TO ME, that brand itself is worth me leaving over there tomorrow.

xcobrax · Answer

None taken, I am retaking the GMAT September 17th...I know I didn't really express that point clearly...it was assumption my argument was relying on

As of right now I am getting High 600s on practice GMATs and just recently started studying for verbal i.e. today. My verbal sucks! English was the 4th language I learned,(I was 10 when we came here 29 now), not to use it as an excuse because it has been so long, however I never took English class seriously, and I am paying for it now. I took the GMAT Prep 1 today, (1st time in 8 weeks or so, been using Kaplan and MGMAT CATs and OG homework) and verbal improved slightly.I must say that I didn't see more than a handful of repeats. I scored Q46/V36 660, still have ways to go with verbal though... SO since I have about 8 weeks, I do not see a reason not to hit 690-700 since I study about 2 hours a day for it. From what I hear, learning the Verbal is a lot easier than the quant (I don't think so) but looking over some problems, the Verbal section seems more "systematic"

xcobrax · Answer

Thanks boss...I really like your analysis...I looked into Pepperdine, but they are not even ranked anymore =( plus for the money I would rather attend USC...I have been doing retail management for soooooo long I am honestly tired of it, I hate people now because of it hahahhaa...I think I would thrive in a consulting position because anytime I am in a leadership role I truly feel that I have a lot to offer, but I would rather offer it as a business consultant making 100K compared to retail management and 60-80K.

The finance portion I have to admit I want to do because A) The money B) In a weird way I enjoy crunching numbers and looking at stats. Consulting I want to do because A) I truly feel I will be great at it B) The money is good...So as you can see, consulting is my main thing. I would only really look at management if I was at a corporate HQ managing the business, but I want out of retail.

Out of curiosity, are you from LA? I don't think anyone outside of the Glendale area says bro as much as we do hahahah

feellikequitting · Answer

Yeah, I'm actually out of Downey,Ca. 
I like the take that you have, Consulting is a high paying industry, but you need a network for that. 
USC should be no big deal, the brand itself will pay for it if infact you do get into that brand.

I know a couple of professionals out of USC, and they all three, infact are making over 1mm a year with their own business. 
You want finance, Wharton. Wharton is the best at that, plus the networking that they will give you to wall street should be ideal in getting you going.

Think of Logistic's as well. UCLA MBA's degree might go a long way in the west coast, also USC. Pepperdine is out of my question, it's not ranked, that's why i choose not to apply there, I would consider UCI before pepperdine, UCI frankly has a nice campus, ranked like #36 or something, but considering a few things the place where you work, and where you graduate has a lot of pull in where and what you do.

I know attorneys that only hire people from a ucla, or b, usc. It's about a brand. Wharton For Finance, or UCLA Management. Hands down, those 2 are in my 7 schools to apply to.

feellikequitting · Answer

forgot my point on the pep's i know, they all make over 1mm a year, hands down, brand matters.

ACNguy · Answer

Alright, I've read all of this and really need to chime in here because there's a lot of poor information going on here.

1). If you're looking to CHANGE careers (ie from your "retail" job to consulting or finance) you really need to go to a Full Time program. They provide the necessary summer internships, networking opportunities, and access to all of the recruiting services offered at these programs. Most PT students do NOT have access to this.

2). You say you work for T-Mobile in retail and not at a HQ. If that means you work in a T-Mobile store selling phones/plans you really are going to have a hard time spinning your previous work experience into anything truly meaningful. I don't mean to be harsh and you may actually not be doing this but that's what I interpretted.

3). You can't say I want to go into finance or consulting. These are two TOTALLY different things. B-School admissions are about having a clear idea of where you've been and exactly where you want to go and how that specific school can help you get there.

4). To the poster that did the supposed breakdowns of each school, for the most part you have some really big mistakes that you've made. UChicago, for example is not known for management or entrepreneurship, but finance. Also, it's really hard to deny that despite school's supposed "specialty" schools like Harvard or Stanford open up all doors as well.

5). I really hope you have a better reason for wanting to get into consulting because you make a lot of money and because you "feel you'd be really good in a management type role."

6). Not going to a FT program because you don't have 100K saved up doesn't make sense. Barely anyone has that money saved up and if they do they certainly aren't blowing it all on school. Many people max out the full amount on loans or very close to it for a FT program (And think closer to 150K, not 100K...)

7). Not to burst your bubble but unlike Law School, b-schools aren't completely hung up on only GPA and GMAT scores. So by simply looking at the schools average GMAT and GPA and saying "I have a pretty good shot at all 3" is a little foolish.

Again, I'm sorry if I came off as harsh I just want to make sure you have a clear understanding of what you're getting into and the amount of work necessary to get into top programs and the exepcations of you to get there and what you can get out of it. Best of luck, make sure to read up on many of the posts that are made on this site by those that came before you, it's really invaluable advice.

xcobrax · Answer

I would rather get the truth no matter how harsh it may be =)

In response to number:
1) No one has pointed out with such clarity the differences between PT and FT. Most people say it is the same thing. The only school that I have come across from my research, (at least an obvious difference) is Stern. I never thought of summer internships...hmmmm...as far as career services go, can't you access the same things as FT students?

2) I am a manager for T-Mobile, not just a sales rep. If I needed to transfer to any part of the US and had to demote myself (assuming I get in a Top tiered program) I would. I was a district manager for (back in the day when it was Cingular) AT&T. Prior to joining T-Mobile (which is what made me realize I need to go back to school) I was in charge of a pool company’s sales division. I would say I realized my true potential while doing this job. I created a compensation plan, implemented new procedures and computer systems, etc… basically brought my knowledge of the corporate world to a small sized company with about 50 employees. I will definitely stress my experience from this position.
3) As far as the 2 fields, I put what I truly would like to do. Management consulting first, then finance. I still have a few months to decide, however consulting seems to be a better fit for me since I am a social person.
5) What else should I take into consideration? I think it is a fair assumption that most people get their MBA for better opportunities = more money. I feel that I would be good in that field, so it seems a right fit
6) Realistically I would not be able to afford going FT. The maximum that you can possibly borrow (given the credit crunch) is realistically not going to be higher than 100k. (Taking into consideration federal limits then adding private loans which depend on your debt to income ratio) I have a mortgage (cant sell house, upside down, cant foreclose because then I won’tt be able to get loans) I would have to pay rent if I move, add in car payment for something reliable bills etc… I will be at $2000 a month conservatively. Unless you know of any loan programs that I am not aware of, I think my affordability does play a role.
7) With my personal essays and accomplishments that I achieved at a young age I am sure I will be able to get in (dependent upon GMAT score). Yes I understand there are people with 4.0 GPAs and 800 scores that get shot down from Harvard, Stanford, etc… but I truly feel my life story is a positive one given the obstacles that I have had to overcome throughout my life.

Thanks for your input; I will definitely look into the summer internships you spoke of.

If the spelling/grammar is off, it is because the screen keeps jumping up and down as I enter text into the field.

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