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03 Apr 2022, 19:01
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Hello!
I am very, very fortunate to have been accepted to CBS with a full ride and to Wharton with a $120k scholarship. I work in education and plan to pursue a social impact role post-MBA. To my knowledge, neither school is very 'social impact'-focused, so I am not sure which program to pursue. Also, my CBS scholarship is through The Consortium, which opens up that network and the possibility to make internship contacts the summer before I start at business school. It's very attractive to me to have access to both CBS and The Consortium network, but I don't know if they are worth more than the Wharton network.
Any advice? I'd greatly appreciate it!
Thank you!
I am very, very fortunate to have been accepted to CBS with a full ride and to Wharton with a $120k scholarship. I work in education and plan to pursue a social impact role post-MBA. To my knowledge, neither school is very 'social impact'-focused, so I am not sure which program to pursue. Also, my CBS scholarship is through The Consortium, which opens up that network and the possibility to make internship contacts the summer before I start at business school. It's very attractive to me to have access to both CBS and The Consortium network, but I don't know if they are worth more than the Wharton network.
Any advice? I'd greatly appreciate it!
Thank you!
28 Apr 2022, 10:36
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Congratulations on your two illustrious acceptances! The hardest decision is often the choice between two good options. It’s hard to provide a fulsome response knowing only what you have provided in your post because there are so many outstanding questions (For instance: how much debt will you be taking on and at what interest rate? Do you intend to work for a non-profit in a middle management role ($) or a social impact-oriented VC firm ($$$$) post-MBA? How much does conventional school ranking matter to you? Is there professional utility for a NYC-based education for you? What market do you intend to work in after b-school? How much does the international student body matter to you? Does culture matter a great deal? Would you prefer a smaller class size? etc.).
While neither of these schools are “social-impact-focused” per se, both are generally prestigious enough that they will propel students forward regardless of the professional segment of their ambition. It’s true that Stanford GSB, Yale SOM, and Dartmouth Tuck are likely stronger “social impact” players, but I think a good argument could be made for Wharton or CBS over Yale SOM or Dartmouth Tuck assuming social impact ambitious *without scholarship considerations* given that Wharton and CBS are generally more highly ranked than Yale and Tuck.
Although CBS is generally ranked lower than Wharton, it is often more highly regarded in certain markets given its larger international student body (especially in Asia). CBS is also a smaller class size in the much larger, more cosmopolitan NYC (versus Wharton’s Philly). Wharton has a very strong relationship with INSEAD, but CBS has a stronger brand post-MBA in Singapore and SEA. Wharton and CBS are both strong in finance (if by social impact you mean social-impact fund), but Wharton may be a tad stronger reputationally. Although both schools adhere to “grade non-disclosure” policies that dissuade gunner-mentality academics, many people believe that CBS has a less competitive culture than Wharton (perhaps stemming in part from the smaller class size and that finance-oriented pointiness of the Wharton student body). Both schools allow for grade-related signals on resumes (e.g., dean’s list) so gunners are gonna gun at both places. There are probably just more of them at Wharton. You might look into your scholarship to make sure that there aren’t stringent GPA requirements, because that could be a drag having to maintain a GPA in what should be a non-competitive grade-nondisclosure environment.
I wouldn’t put too much stock into the non-CBS consortium utility associated with CBS versus Wharton. Recruiting for social impact will be more self-driven than the corporate pipeline recruiters where The Consortium will be most helpful. In reality, the social and professional utility of the network will be tied to the school itself, rather than The Consortium (even though Consortium marketing probably claims otherwise). Note that both CBS and Wharton are part of the Ivy Consortium, so both should ostensibly have job-board sharing opportunities with each other and other Ivies. From the recruiters perspective, however, recruiting is very intentionally school-specific (since the recruiters are often alums themselves).
Since much of your short post focuses on the scholarship choice, though, I’m assuming that much of your decision is based on the ROI of tuition dollars. You don’t need to take economics at CBS or Wharton to know that the utility of a dollar is determined by the # of dollars you have. Is the $80K differential a large amount for you relative to your current or near-term future wealth? If so, then I’d choose CBS over Wharton. In our experience, very few CBS or Wharton alums have trouble repaying student loans and most believe that their educational experience was “worth it.” Those who struggle often choose professional areas that don’t cash flow well or don’t cash flow right away (e.g., government, some social impact, entrepreneurship). If the professional path that you are pursuing is significantly less remunerative than the school averages for alums, I’d follow the scholarship money. What good fortune to be making a choice between two great options - you’ll win either way.
While neither of these schools are “social-impact-focused” per se, both are generally prestigious enough that they will propel students forward regardless of the professional segment of their ambition. It’s true that Stanford GSB, Yale SOM, and Dartmouth Tuck are likely stronger “social impact” players, but I think a good argument could be made for Wharton or CBS over Yale SOM or Dartmouth Tuck assuming social impact ambitious *without scholarship considerations* given that Wharton and CBS are generally more highly ranked than Yale and Tuck.
Although CBS is generally ranked lower than Wharton, it is often more highly regarded in certain markets given its larger international student body (especially in Asia). CBS is also a smaller class size in the much larger, more cosmopolitan NYC (versus Wharton’s Philly). Wharton has a very strong relationship with INSEAD, but CBS has a stronger brand post-MBA in Singapore and SEA. Wharton and CBS are both strong in finance (if by social impact you mean social-impact fund), but Wharton may be a tad stronger reputationally. Although both schools adhere to “grade non-disclosure” policies that dissuade gunner-mentality academics, many people believe that CBS has a less competitive culture than Wharton (perhaps stemming in part from the smaller class size and that finance-oriented pointiness of the Wharton student body). Both schools allow for grade-related signals on resumes (e.g., dean’s list) so gunners are gonna gun at both places. There are probably just more of them at Wharton. You might look into your scholarship to make sure that there aren’t stringent GPA requirements, because that could be a drag having to maintain a GPA in what should be a non-competitive grade-nondisclosure environment.
I wouldn’t put too much stock into the non-CBS consortium utility associated with CBS versus Wharton. Recruiting for social impact will be more self-driven than the corporate pipeline recruiters where The Consortium will be most helpful. In reality, the social and professional utility of the network will be tied to the school itself, rather than The Consortium (even though Consortium marketing probably claims otherwise). Note that both CBS and Wharton are part of the Ivy Consortium, so both should ostensibly have job-board sharing opportunities with each other and other Ivies. From the recruiters perspective, however, recruiting is very intentionally school-specific (since the recruiters are often alums themselves).
Since much of your short post focuses on the scholarship choice, though, I’m assuming that much of your decision is based on the ROI of tuition dollars. You don’t need to take economics at CBS or Wharton to know that the utility of a dollar is determined by the # of dollars you have. Is the $80K differential a large amount for you relative to your current or near-term future wealth? If so, then I’d choose CBS over Wharton. In our experience, very few CBS or Wharton alums have trouble repaying student loans and most believe that their educational experience was “worth it.” Those who struggle often choose professional areas that don’t cash flow well or don’t cash flow right away (e.g., government, some social impact, entrepreneurship). If the professional path that you are pursuing is significantly less remunerative than the school averages for alums, I’d follow the scholarship money. What good fortune to be making a choice between two great options - you’ll win either way.
