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archonizm
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Congratulations on your dilemma. Hopefully easier to untangle than picking between Booth, Sloan, CBS, and Tuck, so thank you for not applying to all of those :-)

It is EU vs. US. Do you have a work permit in either of these countries?
1. I am not very familiar with EU work permit but that's always a concern and consideration in recruiting.
2. Barcelona and Europe are not exactly in the growth phase of their economies
3. The IESE website does look sexy with all those numbers and seems very reassuring but don't let hope replace facts.
4. If you are planning to work in the US, IESE does not make a lot of sense frankly. If you are planning to work in Europe, then Kellogg is probably not the school to pick


Kellogg
Solid and great school. However, recruiting numbers for 2014 looked a little bleak in comparison to others. Only 80% employed at graduation and 88% 3 months out (usually this is in the 90's). That's surprising and possibly concerning?

IESE
Have 90% employed 3 months out - that's nice but I would want to see more stats about employment in YOUR field and your region.
It is good that it has an internship/summer option and many students do a career change.
Not well known in the US, not as much as INSEAD.
Does have a partnership for a Media program with UCLA

P.S. If you want to be in NYC, why not give CBS a shot? your background is pretty unique already. NYC or LA would be the 2 natural fits for employment/location and recruiting locally is much better and easier than trying to do it from another city or across the world.

Really great advice, thanks so much! The money is really the only thing hanging me up at this point. It seems like soooo much more. But maybe in the span of a career it really isn't.

Also, didn't want NYC or LA to live in because I currently live in NYC and want a change, and I'm not a fan of LA. Guess I might have to collect some air miles for recruitment. :)
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The completely opposite perspective would be to take a more immediate stance. Barcelona would probably be the more fun local than Chicago, esp in Feb. It would be a much more diverse experience and that may be very much up your alley. Would this experience help you in your career? Would you see being able to capitalize on that? It is likely to impress folks (it always does to say I went to school in BCN for 2 years) but does it actually yield any results? Your Spanish may improve but they like their Catalan in Barcelona (that happened to me after studying Mandarin for a year and then going to Hong Kong - they did not speak much of it there).

The cons would be the adjustment, foreign language, and culture shock. Having moved to a foreign country for school, I can definitely relate to that. You are however, going to be surrounded by a decent number of international students, so all of you will be able to relate somewhat, though you can expect to find yourself in the safety of about 5-10 of your country people by about Dec next year, complaining about hamburgers, nothing being open at 10 AM, siesta break, tourists, and how slow things in Europe happen. Your first year will be tough. Tougher than at Kellogg but the second year and overall experience would make you a stronger person, closer to the folks you have suffered together with, and with a very different perspective.

If you plan on returning to US after school, would help to find out if the school can help with recruiting - if any companies that come on campus recruit for the US market. If not, it is not the end of the world, but makes your job harder competing with Ivy League on the east coast and being remote.

I can see both schools working out pretty well. There is a big personal and Luck component involved and unfortunately we will never know the other outcome as to compare how well you have made your decision, so whatever decision you make - have no regrets and make it final! Good Luck!
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Congratulations!!! IESE versus Kellogg is a great "problem" to have!

With Marketing and US being your main interests, I'd go to Kellogg. IESE is great, trying to be a little Harvard in Europe (100% case studies), but the only true advantage they offer in your case is the cost.

I'd also consider the Spain economic situation. The country is not going very well, and illogical as may be, the reality is that these situations change the perceptions that employers have about international business schools.

Just consider that 5K as part of Kellogg's total cost. If you are on late twenties or early thirties, I'd not worry on Kellogg ROI.

That money is coming back to you...no doubts!