MBA Decision: Stern vs. Johnson (w/ $$$$)

Question

Guys, I am looking for some feedback related to a choice between a Johnson MBA (with close to a full ride or a full ride...still TBD) and a Stern MBA. My career goals are to break into private equity (middle market), and ideally, end up in NYC. I have an investment banking background with a Big 10 UG (plays key part of my branding thinking), so I am aware it may be difficult either way, but I am willing to put in the work.

Priority #1: Break in to PE
Priority #2: Brand recognition
Priority #3: Alumni network (in general)
Priority #4: Alumni network (in NYC)
Priority #5: Plan B opportunities: Corp Dev, HF, IM, other principal investing roles

I appreciate your feedback. Good luck to everyone expecting decisions throughout March.

mgg234 · Answer

Cornell and NYU are around the same level of prestige, so I think Cornell is easy choice. Plus, having full scholarship on your resume will help you more than the fact Stern recruiting is slightly better for finance. Neither Stern or Cornell really have any major connections to PE anyways.

bdepp · Answer

Unless Stern has something, other than location in NYC, significantly better (IB program, insane alumni connections at your target companies, etc.) that Cornell doesn't have, I'd take the money and tell recruiters that you got a full ride. I'm no expert on the banking world, but I don't think that having Stern on your resume will open any doors that having Johnson on it won't.

jj23 · Answer

Thanks guys... I agree that Stern and Johnson are peer schools. I also know for a fact that for PE recruiting from either school, the onus is on the candidate (equal amount of work at each school to get my desired job). The only thing that is keeping these schools equal for me is Johnson's $$$ and Stern's NYC location. I plan on working and living in NYC following my MBA. Having an internship while going to school or having the flexibility to meet alumni and network in NYC, for me, is the sticking point. Thoughts on how to distinguish these two factors?

MacFauz · Answer

Take the money... Johnson is an awesome finance program (personally I thought it was too finance oriented and decided against applying there since my target industry is MC)... I don't see any significant advantage that NYU has over Cornell other than location.. Plus the money you save with that scholarship will give you more freedom to network... IVY, strong in target industry, full ride (if it is a named fellowship - that would make a nice addition to your resume)... I don't think I need to say more..

SeeakingAdvice · Answer

I would do Cornell either way..

but I would also strongly suggest you use your Cornell scholarship and see if NYU will match. They are peer schools in the same market so NYU would be very likely to match if you explain it is your top choice and that you want to live in NYC after graduation etc.

Leveraging scholarships really works.

jj23 · Answer

Again, thank you guys for the feedback! It allows me to think through things more clearly.

@SeeakingAdvice: do you have experience with scholarship negotiating? If so, please share. Would you mention the other school's name and amount of money or would you be vague? Thanks

SeeakingAdvice · Answer

I negotiated a scholarship for a different degree but I assume the same process works.
I was vague in my initial email ( I will try and actually find the email I sent and post it later..). They responded that they would discuss my profile with the scholarship committee and then asked me for PROOF of my other offer. A few days later I received a reply with a very generous scholarship.

jj23 · Answer

@SeeakingAdvice: Thanks!!! Much appreciated!!!

SeeakingAdvice · Answer

This is the email I sent.. edited for personal details and modified to your situation.

financial aid person (find their actual name and email, most schools list it or contact to find out who you need to contact),

I was very excited to receive acceptance to Stern School of Business. Your school is my top choice among all applications I submitted. However, the overall cost of attending business school is a concern of mine. I recently received a merit scholarship from Cornell's Johnson School of Management which would make their school a very affordable option. However, I believe Stern School of Business is a better fit for me. I would appreciate if you would review my file to determine whether I will be eligible for merit aid at Stern.

Sincerely,
 JJ23

jj23 · Answer

Very helpful!! Thank you.

MacFauz · Answer

Kudos for a helpful post will encourage people to participate more..

MBA Decision: Stern vs. Johnson (w/ $$$$)

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