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UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)

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UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 22 Jun 2020, 22:16
Hi All! I'm going through a little bit of a dilemma that I'm hoping that you all can help me with and perhaps provide additional perspectives and things I'm not thinking about. Pre-COVID, I had only applied to full-time programs thinking that FT is the only path forward. Fortunately (or unfortunately depending on how you look at it), my FT application to UCLA was denied; however, the FT Admissions Office had recommended me for the FEMBA (UCLA's part-time program) to which I applied and was accepted. This brings about my current dilemma - should I go to UCLA's FEMBA or Cornell FT MBA? Especially given the context of the current market environment.

About Me:
1) Would prefer to start my MBA this year (rather than deferring a year)
2) Seeking to transition from Commercial Banking (Commercial Credit) to Investment Banking (first choice) but also wants to explore Consulting and Tech
3) Would prefer to stay in LA (currently based in LA) but don't mind working elsewhere (i.e. New York) for a few years before returning back to LA.
4) Current salary/bonus is at the low range of the Top 20 MBA average.
5) Current job is stable and not demanding enough so that I'll be too drained for attending a PT program.
6) Current job is likely stable with a possible promotion next year (but you never know with these things).
7) Currently 28 years old.
8) Applied in the "COVID round" to FT programs at Kellogg, CBS, Haas, and Stern - all waiting to hear back.


Things to Think about:
- No scholarships at either places and tuition between the two is about the same. Full debt load at both places.
- Cornell has not expressed method of instruction for the fall. Whereas for UCLA's FEMBA, in-person lectures are expected.
- How will post-MBA salaries, bonuses, sign-on bonuses be impacted in 2022, and 2023?
- Currently wait-listed at one higher ranked FT program than both Cornell and UCLA - and I think I would go to this program were I to be accepted, even if it's FT.
- UCLA and Cornell are similar in ranking.
- Already deposited at Cornell.


UCLA FEMBA Pros:
- Can finish in 2.5 years (essentially only a semester behind Cornell's FT program).
- UCLA allows PT students to recruit for summer internships and full-time jobs alongside FT students - which I will for sure opt in for. I'd do a summer internship the summer between my second and third year and study full-time till the End of 2022. I've also wanted to travel more and "experience life" so would use the spring of 2023 (before my full-time job starts) to travel.
- Will maintain current sources of income.
- In-Person lectures. I'm also generally okay with paying sticker price tuition because I'll be working.
- Buy one more year of time and more time for COVID impacts to subside.
- Preferred location.
- Maintains existing life.

Cornell FT Pros:
- Finishes one year faster. Will know my summer internship plans end of this year/early 2021. Quicker to start working and if COVID-19 impacts subsides quicker than expected, could be more advantageous.
- Able to study semester abroad.
- More "prestigious" than PT programs.
- Definitely more of the Investment Banking school - which is my first choice career option.

UCLA FEMBA Cons:
- If I don't secure a summer internship (and the associated full-time offer after the internship), it may be harder to switch careers/industry.
- Instead of interning Summer of 2021, I'll be interning Summer of 2022.
- Depending on how COVID impacts the banking industry, I may be laid off.
- Less "prestigious" than FT programs.
- Wanted to study abroad in a FT program. However, unable to do so at UCLA's FEMBA.

Cornell FT Cons:
- Unsure of the method of instruction in the Fall still.
- Not okay without the full, immersive FT MBA experience at full sticker price. Why else would people attend FT 2-year residential MBAs right?
- COVID-19 residual effects leading to me not finding the employment opportunity I want, lower number of spots/availability at desired firms.
- More risks - have to quit my current "stable" job. No career advancement while in school.
- Most likely staying in NY or somewhere in the East Coast. However, will try my hardest to find opportunities in LA.
- Would need to move across the country to be in Ithaca.

I would greatly appreciate all the help you can provide. Thank you so much for the GMATClub community!
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 22 Jun 2020, 23:42
Given your goal to shift from commercial banking to investment banking, I highly recommend doing the full-time option. This is especially true if you are trying to land at a BB or EB after graduation. I wouldn't sweat the debt too much either with the high pay in IB.

Let us know how things turn out with the other schools. Best of luck!
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 23 Jun 2020, 15:33
BiotechGuy wrote:
Given your goal to shift from commercial banking to investment banking, I highly recommend doing the full-time option. This is especially true if you are trying to land at a BB or EB after graduation. I wouldn't sweat the debt too much either with the high pay in IB.

Let us know how things turn out with the other schools. Best of luck!


I appreciate the comment! Will let everyone know how the other schools pan out!
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 24 Jun 2020, 15:00
If possible, I'd wait to have answers from the others schools ...

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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 24 Jun 2020, 15:17
Regenerate wrote:
If possible, I'd wait to have answers from the others schools ...

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I think the other schools are highly unlikely at this point. So if it was just these two schools/options, what would you recommend?
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 24 Jun 2020, 15:21
The more remote your pivot, the more important the FT program.

So, pivoting from commercial banking to being a technology PM would almost certainly require a FT program.

From commercial banking to IB or asset management, you should be able to get there with a PT program (while keeping an income stream in case the job market stinks when you're done).

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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 24 Jun 2020, 15:43
Regenerate wrote:
The more remote your pivot, the more important the FT program.

So, pivoting from commercial banking to being a technology PM would almost certainly require a FT program.

From commercial banking to IB or asset management, you should be able to get there with a PT program (while keeping an income stream in case the job market stinks when you're done).

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Makes total sense. I appreciate your response.

Not to get too granular here, but do you think I can get into consulting (obviously MBB preferably) from PT ?
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 24 Jun 2020, 15:52
Maybe.

What was your GMAT?
Where did you go for UG?
What was your major?
What was your GPA?

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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 24 Jun 2020, 22:39
Regenerate wrote:
Maybe.

What was your GMAT?
Where did you go for UG?
What was your major?
What was your GPA?

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I'd say my GMAT and GPA is around the Cornell average. I went to a top 25 national university (as ranked by US news) and majored in Business there.
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 25 Jun 2020, 14:38
If you want to go from Commercial Banking to Investment Banking, you need a full time MBA. It's impossible to do this via a part time program. I'd say the decision is between Cornell FT and the other schools your waiting on, or apply again next year.

Cornell does banking very well. It's hard to know how the school experience / recruiting will be during corona, but Johnson will give you the right training to nail banking interviews as well as the alumni support to land the jobs.
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 25 Jun 2020, 16:55
JohnnyBlaze wrote:
If you want to go from Commercial Banking to Investment Banking, you need a full time MBA. It's impossible to do this via a part time program. I'd say the decision is between Cornell FT and the other schools your waiting on, or apply again next year.

Cornell does banking very well. It's hard to know how the school experience / recruiting will be during corona, but Johnson will give you the right training to nail banking interviews as well as the alumni support to land the jobs.


I read your review on Cornell. In light of that, you still think Cornell is better given all the criteria I've listed in my original post? I'm also curious as to what you're doing now job wise.
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 25 Jun 2020, 18:26
JohnnyBlaze wrote:
If you want to go from Commercial Banking to Investment Banking, you need a full time MBA. It's impossible to do this via a part time program. I'd say the decision is between Cornell FT and the other schools your waiting on, or apply again next year.

Cornell does banking very well. It's hard to know how the school experience / recruiting will be during corona, but Johnson will give you the right training to nail banking interviews as well as the alumni support to land the jobs.


I do suspect the OP can go to IB via a PT program.

I didn't say it'd be easy or guaranteed, or they'd end up at Goldman. But, that's not the question they asked.

Can they get into the industry? Yes.

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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 25 Jun 2020, 19:24
bb I'd be interested to hear your thoughts as well. Thank you!
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 26 Jun 2020, 09:09
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wallstreetmonkey7 wrote:
JohnnyBlaze wrote:
If you want to go from Commercial Banking to Investment Banking, you need a full time MBA. It's impossible to do this via a part time program. I'd say the decision is between Cornell FT and the other schools your waiting on, or apply again next year.

Cornell does banking very well. It's hard to know how the school experience / recruiting will be during corona, but Johnson will give you the right training to nail banking interviews as well as the alumni support to land the jobs.


I read your review on Cornell. In light of that, you still think Cornell is better given all the criteria I've listed in my original post? I'm also curious as to what you're doing now job wise.


Going into banking via ANY part time MBA program (ESP a non-M7) is near impossible, esp in a recession. Can you get into a tiny banking boutique from a PT program? Perhaps, but it won't pay or give any CV pedigree (i.e. no exit ops). Can you get into a BB/EB/MM from UCLA EMBA? No way. The entire recurring process is highly structured and the ROI from a PT program going into a tiny IB firm VS a FT program into into a larger bank is vastly different. It's not just getting into banking, it's getting into banking at a legit bank. How are you going to interview prep at a PT program? What roles are you going to recruit for? How does the internship cycle work? Why would someone even hire you to be an intern VS a FT MBA? I just don't see it happening. How many alums do you know at UCLA that have pulled this off? My guess is very few if any, and those prob have special circumstances.

The the question in my opinion is 1) FT MBA program at Cornell or 2) apply again. I wouldn't even list the PT UCLA program as an option as it won't get you to your career goal. So discussing the Cornell MBA as a whole (which I would never suggest on a relative basis VS UCLA FT) vs UCLA part time EMBA isn't an apples to apples comparison.
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 26 Jun 2020, 10:26
JohnnyBlaze wrote:
wallstreetmonkey7 wrote:
JohnnyBlaze wrote:
If you want to go from Commercial Banking to Investment Banking, you need a full time MBA. It's impossible to do this via a part time program. I'd say the decision is between Cornell FT and the other schools your waiting on, or apply again next year.

Cornell does banking very well. It's hard to know how the school experience / recruiting will be during corona, but Johnson will give you the right training to nail banking interviews as well as the alumni support to land the jobs.


I read your review on Cornell. In light of that, you still think Cornell is better given all the criteria I've listed in my original post? I'm also curious as to what you're doing now job wise.


Going into banking via ANY part time MBA program (ESP a non-M7) is near impossible, esp in a recession. Can you get into a tiny banking boutique from a PT program? Perhaps, but it won't pay or give any CV pedigree (i.e. no exit ops). Can you get into a BB/EB/MM from UCLA EMBA? No way. The entire recurring process is highly structured and the ROI from a PT program going into a tiny IB firm VS a FT program into into a larger bank is vastly different. It's not just getting into banking, it's getting into banking at a legit bank. How are you going to interview prep at a PT program? What roles are you going to recruit for? How does the internship cycle work? Why would someone even hire you to be an intern VS a FT MBA? I just don't see it happening. How many alums do you know at UCLA that have pulled this off? My guess is very few if any, and those prob have special circumstances.

The the question in my opinion is 1) FT MBA program at Cornell or 2) apply again. I wouldn't even list the PT UCLA program as an option as it won't get you to your career goal. So discussing the Cornell MBA as a whole (which I would never suggest on a relative basis VS UCLA FT) vs UCLA part time EMBA isn't an apples to apples comparison.


I actually do know a handful people that went to FEMBA and gotten job offers at LA's regional offices of CS, Barclays, WFS etc. (also know of FEMBAs going into MBB in consulting through a summer internship). Obviously, I'm not sure how difficult it is for them to have done this. UCLA allows FEMBA students to recruit for summer internships between their 2nd and 3rd year and effectively study full-time their third year - many students choose this option.
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UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 26 Jun 2020, 10:51
[\quote] I actually do know a handful people that went to FEMBA and gotten job offers at LA's regional offices of CS, Barclays, WFS etc. (also know of FEMBAs going into MBB in consulting through a summer internship). Obviously, I'm not sure how difficult it is for them to have done this. UCLA allows FEMBA students to recruit for summer internships between their 2nd and 3rd year and effectively study full-time their third year - many students choose this option.[/quote]

What groups are they in (BO vs FO)? Did they do banking before? Is the MBB person a consultant or doing LDP? Did they get these jobs during a downturn when hiring was tough? Or in the recent boom time when everyone was hiring? Again, apples to apples...
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 26 Jun 2020, 11:24
The point is, other people have been able to do it.

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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 26 Jun 2020, 14:12
JohnnyBlaze wrote:
[\quote] I actually do know a handful people that went to FEMBA and gotten job offers at LA's regional offices of CS, Barclays, WFS etc. (also know of FEMBAs going into MBB in consulting through a summer internship). Obviously, I'm not sure how difficult it is for them to have done this. UCLA allows FEMBA students to recruit for summer internships between their 2nd and 3rd year and effectively study full-time their third year - many students choose this option.


What groups are they in (BO vs FO)? Did they do banking before? Is the MBB person a consultant or doing LDP? Did they get these jobs during a downturn when hiring was tough? Or in the recent boom time when everyone was hiring? Again, apples to apples...[/quote]

They are all FO and didn't have prior IB experiences (although some had finance experiences). Same for the MBB individuals, they join the firms as consultants. These are all examples within the past 1-5 years. Obviously, I think it's hard to have an apples to apples comparison given current economic scenarios and everyone's story is different. I guess the point is, it can be done if you work hard for it.
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UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 27 Jun 2020, 04:42
wallstreetmonkey7 wrote:
JohnnyBlaze wrote:
[\quote] I actually do know a handful people that went to FEMBA and gotten job offers at LA's regional offices of CS, Barclays, WFS etc. (also know of FEMBAs going into MBB in consulting through a summer internship). Obviously, I'm not sure how difficult it is for them to have done this. UCLA allows FEMBA students to recruit for summer internships between their 2nd and 3rd year and effectively study full-time their third year - many students choose this option.


[\quote]
What groups are they in (BO vs FO)? Did they do banking before? Is the MBB person a consultant or doing LDP? Did they get these jobs during a downturn when hiring was tough? Or in the recent boom time when everyone was hiring? Again, apples to apples..

They are all FO and didn't have prior IB experiences (although some had finance experiences). Same for the MBB individuals, they join the firms as consultants. These are all examples within the past 1-5 years. Obviously, I think it's hard to have an apples to apples comparison given current economic scenarios and everyone's story is different. I guess the point is, it can be done if you work hard for it.


If you have hard examples of this happening from UCLA, and think you can pull it off, you should go there. You'll have more fun, make money during the program and generally enjoy a drastically better run program.My concern was nothing to do w/ Cornell, more so PT vs FT placement for banking. But if you know ppl who have done this before, and think you can pull it off too, you should head to UCLA.

Once you decide on b-schools, I suggest you start the networking asap. Even before school starts and way ahead of the internship. Those relationships will really help down the line as you transition.

Good luck!!!
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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)  [#permalink]

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New post 27 Jun 2020, 05:00
+1

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Re: UCLA FEMBA (Part-Time MBA - no $) vs. Cornell Full-Time (no $)   [#permalink] 27 Jun 2020, 05:00

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