HBS vs. Kellogg w/ 100K scholarship

Question

Hi!

I'm having a hard time deciding between HBS and Kellogg, where I got a 100K scholarship. I currently work in CPG and most likely will stay in CPG with the desire of going into general management and the C-suite long-term. I'm not sure if HBS's brand name is worth taking on debt and whipping out my savings. Any thoughts?

bb · Answer

A small price to pay for the worlds best brand name. To me it would be worth it just not to have any regrets or doubts about my decision. 
You can buy a tesla any time you want but you can't do over your MBA. That would be my take but I am at a different phase in my career.

MBAdecisions89 · Answer

Do you think HBS brand is that much stronger?

bb · Answer

It is probably impossible to establish the difference in value between the two programs and then quantify them into dollars payable upfront or over a period of 20 years as a loan. It is purely emotional in this case and even though I am not a sucker for brand names, there is some value in attending worlds best school vs #6

My personal opinion is based purely on my paranoid nature and desire to be #1. I don't buy the most expensive items or the best cars - I don't care about BOSE headphones, my Audio Technika does just fine, my old Lexus still drives well and I don't need a new one but in areas that matter to me and that won't be lost on a plane or depreciate over time, I tend to put a disproportionately high value. It is nothing against Kellogg but I would not take anything less than the best in the MBA world. Then of course if you are planning to have kids in a few years and never come back to work it is a diff story :-)

We are all different and my opinion would most likely be different a few years ago. 100k seems like a lot until you try to buy a house in any large city on the cost.... this is where I am at and 100K don't buy you much when houses start at over $1M. It all depends on what you compare it with.

We are all different and my opinion would most likely be different a few years ago. 100k seems like a lot until you try to buy a house in any large city on the East or West coast .... this is where I am at and 100K don't buy you much when houses start at over $1M. It all depends on what you compare it with.

NoHalfMeasures · Answer

Here is a well-known economics paper by Stacy Dale and Alan Krueger. It found that people who attended elite colleges do not make more money than do workers who were accepted to the same institutions but chose less selective ones instead—suggesting that former attendees and graduates of Harvard tend to be rich because they were already intelligent and hard-working before they entered college, not because of the education or opportunities the university provided.

https://cdn.theatlantic.com/static/mt/as ... ollege.pdf

I am not in a position to provide an opinion on your question. Just felt that this paper might provide you one more perspective to make a more informed decision. You might also want to run a poll here. Good luck!

BrainFog · Answer

Thanks BB. I really enjoyed your post and your perspective. In fact it's one of the best posts I have read on GMATClub lately. Your opinions/insights speak of your success.

JackDaniels · Answer

Playing the devil's advocate here. I would choose Kellogg if I were you. You are not a career changer, so I assume that recruitment is not a big factor for you. Therefore, both schools will get you from A to B. Both schools can teach you practically the same concepts in management. The only difference is that HBS has a stronger brand name, and the people will be (slightly) more accomplished. BB (and many others) emphasize on potential future earnings. However, do not forget to live and enjoy the present as well. At Kellogg, you will have no financial worries whatsoever with a 100K scholarship. You will not be forced to stay at your company to pay off your debts and you can live quite comfortably for at least the next five (!) years. It takes quite a while to save up $100K, even on a $150k - $200k (pre-tax) salary.

HBS makes sense if you are dead set on PE/VC and have PE/VC experience (these seem the only type of firms that are not accessible from 'lower' ranked schools), or if you think that HBS is a much better fit.

Kellogg797 · Answer

Normally I would say HBS, but Kellogg will get you your goals.

HBS would be better if you were looking into doing a start-up, PE/VC high finance.

Both will get you where you want to go, Kellogg will be cheaper. Do more research, talk to people with the jobs you want and get their opinion.

Allday028 · Answer

I would absolutely take HBS. Personally, I take a long term view on my career. Over the course of that career 100k will be what? 1% or so give or take? It seems like a lot now, but it's not a lot discounted over the next 30 years of a career. And that HBS brand name is by far the best in the world. It's hard to quantify the difference in value between Kellogg and HBS, but there certainly is more then a small possibility that the HBS network will allow you, long term, to open up doors that the Kellogg network would not. It's really maximizing the potential upside, which was, to me, what an MBA was all about.

GoBlueGrad · Answer

With these types of questions, I normally don't understand the logic of taking the brand name over scholarship money. This case seems even more obvious to me than most - I would absolutely take the money. Kellogg is an idea fit based on desire to stay in CPG, and no matter what people say, $100K is a large amount of money. Think about where most MBAs are in their life following graduation: ~30 and possibly looking to buy a home, start a family, save up for retirement. Let's say that a $100K scholarship represents the difference in finishing with $50K in savings and finishing with $50K in debt. That $100K makes a huge difference towards whatever life goals you may have. Harvard's reputation on the other hand won't equate to a down payment on a house anytime soon.

Maybe I'm just using the above example because that's where my head is at personally, but I think some comparable life goals could apply to most people.

Realize that your performance in interviews and at work will have a much greater impact on your future potential earning than Harvard or Kellogg will. Your success is a product of your ability, not the MBA program you graduate from.

Just my 2 cents. Good luck to everyone making decisions!

Maybe I'm just using the above example because that's where my head is at personally, but I think some comparable life goals could apply to most people.

Realize that your performance in interviews and at work will have a much greater impact on your future potential earning than Harvard or Kellogg will. Your success is a product of your ability, not the MBA program you graduate from.

Just my 2 cents. Good luck to everyone making decisions!

jessepinkman · Answer

I'd go with HBS, gotta play the long game. You don't know where your career will take you/if your goals will change and the HBS brand/network will put you in the best position to succeed no matter what you decide to do.

BrainFog · Answer

Just wanted to say I thoroughly enjoyed reading your post. In fact I read it earlier but now came back to read it again. You touched upon real life, things that matter post-MBA. Situations that we often don't take into account in our decisions. We're all under the impression that everything will fall into place. Unfortunately the discussion in most posts here is so fixated on brand value, companies and all that hardly anyone here advises on real life you know stuff like mortgage, family, etc post-MBA. That's also the reason why I enjoy reading BB's posts.

bb · Answer

LOL. Though I have uber-heavily recommended going to Harvard (or maybe that's in my head). I have been looking for a rant post that I cannot find for the life of me of a Kellogg student who was pretty unhappy with his situation and wished he did not take the money (different career goals). I cannot find it and perhaps he/she edited their posts out. It was a few years ago. I will keep looking... I did find this though: calling-all-kellogg-fall-2011-applicants-97100-1960.html#p839693 a positive reassurance.

fidelcastro · Answer

you say you want to go for c-suite and then you may read the article https://poetsandquants.com/2014/06/20/wh ... ss-school/

There was another one but I could not find one.

Beside the statistics I think HBS's case method will provide you the best training you will need as c-level employer.

For me it is no brainer

MBAApplicant1 · Answer

I think you are referring to this one https://poetsandquants.com/2016/01/30/th ... companies/ HBS hands down, the strongest MBA brand there is

farrous13 · Answer

Lots of good advice on here.

I think 100K is a  time  changer. If you have no other means of financial support, life will  probably  move slowly for you. It will take you time to buy a house for example or buy the car you want. But let's say all of this is not important, then what is? Career, long life connections, enjoying the student life one more time are all important. I am not the type of guy that falls for rankings. However, I do appreciate quality. I think both schools do bring in the quality of knowledge that you might be seeking.

If I knew where I wanted to head with my career and both schools offered equivalent opportunities, I would choose the school with the highest ROI. A house and a quality life style with my family is more important to me than to live for the next couple years with debt and to say I'm a HBS grad.

And just one more thing before I leave you alone, don't fall for statements like "100k is just a drop in the bucket" or "it is only 1% of what you will be potentially earning", it's all based on assumptions that you will be flying through the executive suits and you will make it rain.

"I have a kid so I'll choose a 4 door sports car. My single friend will go for the lambo. We are headed to the same destination. It doesn't mean my friend will make it any faster or any slower. It's irrelevant. He might get a flat and I might take a detour to check out the scenery"

rowali · Answer

Hi, curious what you chose. I had same offer ($100k to Kellogg vs HBS) and plan to go into CPG after. Sent in my deposit to HBS last week. Two great options!

mfprado1073 · Answer

This a fantastic post and a marvelous discussion with strong points of view from both sides.

I think a lot of students accepted to H/S/W face a very similar decision. In my opinion, life is much like a game. There are a ton of available achievements. As we have limited time, we have to choose which ones we focus on. Maybe being able to say you attended the best university and the best business school in the world matters to you. Maybe being able to buy a nice house or a nice car before your fellow MBAers is what drives you.

You'll do great either way, congratulations!

MBAaustralia · Answer

I voted for HBS. I believe access to the HBS network is worth nearly the equivalent of the scholarship.

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