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Tuck vs. McCombs ($$)

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Tuck vs. McCombs ($$)

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Tuck vs. McCombs ($$)  [#permalink]

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New post 28 Mar 2019, 17:43
After MBA I'm trying to get into travel & hospitality (tech, airlines, hotels...), and also want to start heading into real estate. I'm open to consulting / non-travel tech recruiting as well, and locations don't matter.

If I go to Tuck I'd have to borrow almost full cost to attend ($200k), but hey it's an Ivy and the alumni network is friggin' awesome. I believe placement opportunities are somewhat better than McCombs as well. I am very against debt. This means 15 years to pay off and I will certainly have to do consulting to get the high salary that could pay off this debt (i.e. less free to follow what I'm really passionate about). Tuck has been my most favorite school since I visited and the school's culture is unbeatable.

On the other hand, we have Austin, the most exciting new city to be in. I have been eyeing Austin for a while and wouldn't mind settling down there either, although high paying jobs in the city are not as plentiful as in NYC/SF. Plus the school gave me a fellowship and going to a state school is much cheaper, so I'd only have to borrow ~70k (i.e. 5 years to pay off). The new building is gorgeous. Plenty of VC/Tech fellowship opportunities in Austin as a part of the curriculum. But the brand and network outside of Texas are not that strong.

I'm from a humble family and $ is a big concern for me. I really appreciate your advice and feel free to correct me if I said anything wrong. Planning to reach out to alums as well.
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Re: Tuck vs. McCombs ($$)  [#permalink]

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New post 28 Mar 2019, 19:04
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Do you have big named scholarship from McCombs or is it half tuition/fee ish? That might make my recommendations change. I'm assuming it is big named scholarship/fellowship.

If you are "open" to consulting but would rather not, then take the money at McCombs and be happy. I have a friend who took 200K loan to top 10 law school. He wanted to human rights law but couldn't live so poorly due to family responsibilities (He takes care of his parents' living expenses because his parents got somewhat disabled right before he went to law school). He took big law job but hates every moment of it and feels suicidal. I told him just to pay off the loan and go get a less paying job that he'd be happier to do. Much better than feeling suicidal.

Your situation is not exactly same as my friend's, but I see somewhat similar theme in pursuing "your true desire" rather than money just because you have to pay the loan back. If you want MBB/other consulting, the recommendation would be different. However, given your goal/personal comfort level with debt, I think McCombs is the winner.
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Re: Tuck vs. McCombs ($$)  [#permalink]

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New post 28 Mar 2019, 21:39
ket310 wrote:
Do you have big named scholarship from McCombs or is it half tuition/fee ish? That might make my recommendations change. I'm assuming it is big named scholarship/fellowship.


Thank you so much for your input. Yes it's the Forte Fellowship. I talked to a Tuck alum who borrowed full cost of attendance and her advice was very similar to what you said above. I decided to attend the admitted student weekend at Tuck pretty last minute to make a better judgment. I know Tuck makes a huge effort to create a fun experience living in Hanover, but Austin is still a better place for sure.
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New post 28 Mar 2019, 22:00
if you aren't sure you want to stay in Texas after school, go to Tuck.
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Tuck vs. McCombs ($$)  [#permalink]

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New post 28 Mar 2019, 23:38
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jessepinkman wrote:
if you aren't sure you want to stay in Texas after school, go to Tuck.


Being unsure about whether or not you'd be willing to settle in Texas isn't a very good reason to take on $200,000.00 of debt IMO.

I would suggest flipping this approach:
If you aren't sure you have a very specific reason to pay an extra $130k to attend Tuck, go to McCombs.

Austin is hella more awesome than Hanover. And FWIW, as a one-time Austinite and Texan, I can tell you, many of the McCombs students who stay in Texas after graduation don't do that because they're stuck, they do it because Texas is a wonderful place to work and live. According to UT's employment report 40%+ don't stay in the Southwest after graduation anyway. Go enjoy the live music and BBQ for a couple years while you get high-quality business education and management training--and ultimately awarded the exact same degree you would get at Tuck...for a full six-figures cheaper!

NB: If you were absolutely "MBB or bust," Tuck may look like the better option. Given your stated goals and preferences though, I think this decision should be easy.

Hook'em!

~Good luck
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New post 29 Mar 2019, 04:36
teleste wrote:

I would suggest flipping this approach:
If you aren't sure you have a very specific reason to pay an extra $130k to attend Tuck, go to McCombs.

~Good luck


I like this approach. Also would like to remind you 130K is almost 200K pre-tax. It could be different per person as you have different tax situation. This is assuming you're single without a spouse or kid (in that case, probably more like 170K pre-tax).

https://www.mccombs.utexas.edu/~/media/ ... %20003.pdf

Texas still sends 43% out of (Southwest)
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Re: Tuck vs. McCombs ($$)  [#permalink]

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New post 29 Mar 2019, 08:28
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I think what you shared revealed a lot. The weight of the debt may affect what career you pursue, and that would really be a shame. The MBA should be the means to the end but not the end itself. The MBA should help propel you to where you want to go, and McCombs can definitely do that.

I think the money at Texas would allow you the freedom to follow your passion. Austin is an amazing city and I believe McCombs will rise as more people flock there. You can't put a price tag on happiness and feeling free to explore different industries without fear of paying back loans will likely lead to a more fulfilling experience.

In short, I strongly vote Texas here. Congrats and good luck!
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Re: Tuck vs. McCombs ($$)  [#permalink]

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New post 29 Mar 2019, 14:09
Thank you so much everyone and I sincerely appreciate your advice. I signed up for Admitted Student Weekend of both schools and will definitely put my "judging glasses" on. For now, McCombs seems to be the better option for my financial situation and lifestyle. We're all making long-term bets with our MBA, so if Tuck can justify the amount of debt I'd give it a shot.
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Tuck vs. McCombs ($$)  [#permalink]

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New post 01 May 2019, 11:35
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ket310 mradamsmith teleste

Hi guys, thank you very much for your advice. Tuck actually offered me $50k in scholarship after learning about my financial situation, but wanted me to respond before I had the chance to visit McCombs preview weekend. However, I didn't have a good experience during Tuck's admitted student weekend (I felt like I didn't fit in). Hence I turned down Tuck's scholarship. McCombs/Austin is an awesome place and the school's placement is pretty impressive. I connected better with other students too. On top of that, McCombs gave me some extra $ and there are a lot of year 2 scholarships.

It was definitely the most difficult decision I have ever made in my life. Adcoms at Tuck were super helpful and they made me feel like they really want me to be there. Turning down the Ivy League brand definitely sucks, but I'm excited for the next two years in the No 1 place to live in America :)
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New post 01 May 2019, 14:00
Tuck is a Consulting school

Posted from my mobile device
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Re: Tuck vs. McCombs ($$)  [#permalink]

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New post 01 May 2019, 16:20
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foggy wrote:
I'm excited for the next two years in the No 1 place to live in America :)


Hook'em!

Congrats on the great admission cycle and good luck on your MBA adventure!
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Re: Tuck vs. McCombs ($$)   [#permalink] 01 May 2019, 16:20
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