Low rank Bschool close to NYC Vs. ranked 40- 100 Bschools

Question

How will you decide in the following situation between a low rank BSchool or a ranked 40-100 Bschool:

Your profile:
age:32 (Unmarried) - cant wait for MBA next year
Past work ex.:
1) Big 4 - one year, Singapore 
2) C-level (Investment, legal compliance, sales & marketing) - one year - USA
3) Attorney: law firm for four years - New York, UK (qualified to practice in three countries), actually lived and worked in USA, UK & Asia

Education:
1) Ivy League School in USA - J.D. , Bachelor of Science (Mathematics), Master in Laws
2) Completed 9 Credit Management Courses NYU Stern & HBS

Future object:
1) Intend to work in USA again - at present in Singapore
2) Intend to work in Consulting or Management - Opt for General MBA in finance and Management courses

Issues:

1) all top bschools i got through are far from NYC ( 7-8 hours) (Fact: I have prior work ex. in NYC - two years), on the other hand - a low profile (ranked top 300 Bschool) took me and just one hour from NYC. I believe networking, past connections matters. Further, i am a NY Attorney. So opting a good ranked program in other state is not so logical. I know NYC better.

2) Some ranked 90- 100 bschools has provided me scholarship, however, this low rank close to NYC did not offer me scholarship, so seems like $15,000 (as it is NY) i need to pay more for that low rank bschool.

3) low ranked Bschool's program appears to be good, 50+ credits with internships that even i can get easily (almost two years course, small class). I dont care about placement record, all that i know is most of my classmates will be working professionals and Bschool has good Accounting program for CPA's ( and i do not intend to be a CPA). most of the classes are in the evening, after 6 PM.

Do you really think in my case, the reputation of Bschool matters and i should opt for ranked 40 -100 Bschool over this NY Based low ranked Bschool.

Do you think that my present resume still good with name of the schools i studied in my past and firms that i worked, or should i again go for the brand name of ranked Bschool. However, i may compansate this by taking few relevant courses from Harvard or Stanford Business School.

I know the fact that it is also hard to maintain a high GPA in the top Bschool's MBA program and i may not have chance to even think about internships during MBA classes ( except in vacations). However, for the low ranked Bschool i still have time to work part time or do some internships.

Well i think that at the end of the day, work experience matters.

Any observations???

kingfalcon · Answer

Honestly, if you went to law school at an Ivy, I don't see why you're willing to go to business school at a school ranked 50-100, let alone one ranked even worse. The employment prospects out of schools ranked that low are dubious to say the least, and even worse for consulting. I would reevaluate why you want an MBA and consider waiting to apply to higher ranked schools. Or, if you can't wait, forgoing the MBA entirely and using the clout of your JD at a very well-regarded school to join a consulting firm directly.

old1442 · Answer

slightly confused - do u mind sharing the names of schools you've been accepted to for a better understanding?

niceman2006 · Answer

I do agree with your point of view. I had decided to opt for one 90- 100th rank Bschool because i got one scholarship and waiting for other top Bschools to revert as applied in third round.

Agentfish36 · Answer

First, i think there is a big difference between 40 and 100. Top 50 ad out of top 50 is kind of a big deal. Second, what are the placement rates like at the NYC school? You said you worked for big 4, do you have any connections there? Looking at your work experience, i don't see the barrier to you going to a top 50 MBA program, have you taken the GMAT?

niceman2006 · Answer

Finally got through the following Bschools and need to decide among the three

1) Manderson Grad School of Business, 
University of Alabama (Ranked 58 as per US News) - at Tuscaloosa (not a big town) - as per US news compass - 70% were employed on graduation.
How is the state of Alabama for the jobs for an attorney who was working in Singapore in Big 4 in risk & compliance?
I am a NY Attorney and worked two years in NYC in real estate investment & management. I have good contact in NYC but cant afford MBA there.
This Bschool is quite far from NYC?? Do you think i should join this school because of rank, as i have good chance to work in NYC while studying not in a ranked MBA program (IONA College - 40 min. from NYC)?
I am holding $20,000 scholarship in Manderson Grad School of Business. 
Will cost me total $65,000 for two years with living etc. in Alabama.

2) University of Cincinnati
Ranked 99 as per US news in 2013, earlier ranked 70 - (16 months with an internship program), will cost me $50,000 with living etc. (got $6,000 scholarship)
Located in Cincinnati - good city - (cant compare with Tuscaloosa, AL)

3) Iona college - not ranked, 45 Min. from NYC, no scholarship, $70,000 for two years, good CPA MBA program. Post MBA placement records is not available for this college.
However, i can easily get internships, jobs and part time work with MBA due to my contacts in NYC.

Post MBA goal: join general management jobs in fortune 500 companies. Pursue MBA in General Management

TonyMontana896 · Answer

I'd think that with an Ivy League education and big 4 work experience, it would be easy to transition into a mid management position in a fortune 500 company. I don't understand what any of those programs will get you that you couldn't get into with your JD from an Ivy League school.

To be honest, my opinion is that you are wasting your time even looking at those schools. I know you don't want to hear this but those programs are poor - surely not worth the opportunity costs of two years plus 50-70k. For a worthwhile ROI try to get into a top 20 b-school. What about your profile is holding you back from better b-schools? Did you bungle the GMAT or something?

Agentfish36 · Answer

I agree, outside the top 50 is a complete waste of time & $$. I got my undergrad degree from the university of Cincinnati and their MBA program does nothing for you (median salary 55k). I still don't understand how you're not looking at higher ranked programs with an ivy league JD. Did you just not take the GMAT or score in the 500's?

Even at this stage in the game, schools have money left. I got a GA offer at Purdue, finished my app 2 weeks ago. Good schools have spaces & money left. Reach out to a few and network. If you don't get a good feeling, apply to good schools in the fall...

niceman2006 · Answer

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ There are so many personal factors for me: 1) I dont want to take education loan for top 50 programs as total program cost will be $90,000+. I had paid my law school loan after 7 years since graduation. $ in big factor for me. I had applied to UT Dallas three week back in the hope of scholarship and did not hear from them. 2) I am earning well in Singapore in Big 4. I have work experience in corporate law from last 6+ years. Employer do see its moreover a legal role. I am not a eco./commerce grad by qualification. I have only three options left. 1) do what i am doing and see myself at the place of my boss after twenty years, as a head of leagl department of big 4. or 2) start a job in general management at the lower lever (say asst. manager) leveraging J.D. 3) pursue MBA from average Bschool, than in next two years i need to invest my two years salary + $60,000, but possibility to have a start as Manager in fortune 500 company, which is 6 years head start. As without an MBA, you will start as intern/ asst. manager based on you prior relevant work experience. Needless to add that 50% Harvard & NYU MBA grad join Consulting (Bain & Co) or Investment banking firms at the intern level or associate level based on their prior experience. I know my close friends were working at the top management prior to MBA and joined at low level in Consulting or inv. banking. No doubt that they earn more than anyone and have better prospect. My point is that i dont want to start a fresh and want to utilize what i did (i.e. like a policy analyst who work in various functional verticals of a firm, or in general management team who works in various functions of the organization etc.). Be true, in my case, even the harvard, stanford will give me an offer for MBA, by any chance, i cant take a risk of paying the debt at my present age. My present GMAT score is 620 in a month prep. and i can improve it. But i cant wait for next year intake for a MBA. I had applied in a round three this year and did not apply in any top 20 MBA program in USA. Further, I am a good candidate for executive MBA program but dont want to opt for it due to cost attached for it. NYU Stern & Wharton ect. EMBA require no GMAT but only work ex. & $$$$$$$$. However, I got through Imperial College London (which is among top 7 in UK) for full time MBA. But it doesnt make any sense to run for that MBA program in UK because of rank, given the fact that i have a good work experience in US and want to work in US. Its a one year course and UK immigration laws are not good. I look forward for the name of the Bschool in the post provided above. But it is implied that people run for the rankings & reputation of the program. If the ranking does so, not the logic, than all fortune 500 CEO's should be from top 20 Bschools. But i dont deny the fact that even a law school grad can be a fortune 500 company CEO - see https://www.usnews.com/education/best-gr ... law-school

CobraKai · Answer

Given your reasons for not aiming higher, I would pick Iona. It sounds like you're looking to check the MBA box then plan on using your network vice the MBA program's career office to land an internship in NYC. If you can do that, great - no need to move to Alabama or Cincinnati if you want to work in NYC.

I would also take those rankings with a grain of salt, if not the whole shaker. Once you get past the top 20, you're basically looking at one media publication's opinion. If you look at the top 20, different magazines might have them in a different order, but there's a general consensus of who the top 20 schools are. That isn't the case the lower you go in the rankings.

TonyMontana896 · Answer

Well I guess if you have to go this year then I'd agree with CobraKai and say just go to a school in NYC. Because these schools are ranked low, they are going to be very regional schools, so getting a job in NYC from Cincinnati would pretty much be on you, that is it would require a great deal of footwork and recruiting outside of the school because I doubt many if any recruiters from NYC will be doing on campus recruiting.

Now maybe I didn't understand your post completely, but it sounds like a big part of why you won't wait until next year is because you don't want to go into debt at your age. That makes some sense, but if you take a few months to study for the GMAT, you should be able to boost your score by a good margin. If you can get a 700+, and you apply round 1 or 2 you should easily get a full ride or close to it at a top 50 school, maybe even a top 30. That would offer better options and no debt. I'd be thinking that way in your shoes.

old1442 · Answer

agreed. heres a good article for schools you might apply to if you decide to wait it out https://images.businessweek.com/slidesho ... slide1/url unless you havent given us a full profile and theres something besides a gmat which you could improve with time, you should be a decent candidate for large scholarships from a top 50. I got substantial money from 2 of the 6 schools i applied to in the top 20

ss87 · Answer

I read through the whole thread and I seriously don't understand why you are aiming for such schools, given your WE and J.D from an Ivy league.

Skip the MBA.

If you are still very particular, why don't you try a part time MBA or the weekend MBA at Chicago Booth in Singapore.I am sure that network will allow you work in the US.

You keep mentioning about $$$ from some no-where school, I think your two years there will be much better spent invested in your current career.

ss87 · Answer

As for the GMAT, try the manhattan GMAT prep and I think you can take some GMAT courses over the next few months and improve your score. If GMAT is the reason you're aiming for these schools, I would suggest retake the GMAT and re-apply in the next season.

Low rank Bschool close to NYC Vs. ranked 40- 100 Bschools

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