Help! CBS ($) or Kellogg ($$$)

Question

Hi All,
Didn't think that I would ever be in this position (reapplicant and I got dinged everywhere last time) but I've been admitted to CBS, Kellogg and Tuck, all with scholarships! CBS gave me 40k, Tuck 50k and Kellogg 100k. I'm thinking probably not Tuck (I love Tuck but went to a rural school for undergrad and wouldn't mind a change of scenery for b-school) but I'm completely torn between CBS and Kellogg.

I'm looking for a school with a close knit community and a great social/travel experience. Kellogg would be a no-brainer except that 1)My fiancee is currently in New York for grad school and won't be able to move for the next two years 2) I definitely don't want to stay in the midwest after graduation 3) I don't really know what I want to do after graduation but finance (specifically asset management) is on my short list, along with consulting, general management and healthcare

Which would you choose?

Allday028 · Answer

Well, let's break it out by things you care about:

1) Community: Kellogg wins this for sure. Almost everyone lives together on campus 45 minutes away from Chicago so you really have a community that sticks together in Evanston. Columbia people are more spread out. I don't think this is a bad thing, but it Kellogg has that undergrad type vibe when it comes to its community.

2) Fiance: You have to determine how much this matters to you. I will say, one thing that turns people off about CBS is the COL. But if you are splitting a 1 bedroom with another person you can save and bring that down to more in line with other schools. Though you have that large scholarship from Kellogg, so it definitely won't ever equal.

3) Midwest vs East Coast: This isn't a huge deal. You can recruit well for most industries on the coasts from Kellogg. CBS does get a lot more on Campus interests from smaller banks, funds, asset managers, etc that are based in NYC. Which brings me to my next point:

4) If you want to do AM, CBS blows Kellogg out of the water. The Value Investing program combined with all the midsize and small funds, shops, etc that come on campus that don't at places like Kellogg makes it as good of a school as there is for AM recruiting. That said, a lot of that recruiting is determined by your pre-MBA WE. So if you have a non finance background, I wouldn't expect to get interviewed by Fidelity or Wellington anyways. As far as consulting goes, CBS has very good consulting placement too, but Kellogg kills consulting. So if you are leaning that way Kellogg has an edge there. As for the others it's a bit of a wash.

I would say, with the money differential, Kellogg should be the choice unless you absolutely know without a doubt AM is for you, in which case CBS is worth the extra money. And no one can tell you how much it matters to you to be away from your fiance, so you'll need to weigh that, as well.

Also, go to the admitted students weekends. See how you fit in with the communities. That may ease your mind a bit.

jwang27 · Answer

Allday summarized it pretty well, but honestly to me, a 60k differential really is peanuts over the long run. I think it really comes down to whether you are sure you want to do finance vs. consulting, and choice of proximity to your fiance.

I personally would probably pick CBS if I were you (especially since I definitely value being close to my SO), but that's just me

.

Mo2men · Answer

Conrgrats for Dilemma :-D

Both Allday028 & jwang27 provided great support. I will add my 2 cents. I think you must determine your goal or at least rank them in order, taking into considerations you past experience. Then you need to choose the school that best satisfies your dreams. Both schools cover what you want. While CBS is dominant in finance, you still can attend Kellogg and be recruited in NY but with fierce competition with CBS students. If you want to go to consulting, Kellogg is your place as it is feeder to that field but you won't miss it, if you go to CBS. Healthcare is almost equal for both schools (around 5% according to career 2015 reports in both schools) Taking money into consideration, I would choose Kellogg as it still gives you the whole option with less money. It is nice to start life after MBA with less debt and loans. If you value being in NY & east coast and other personal issues, then CBS is your place. :gl

DCTech87 · Answer

Also dropping in my 2 cents - I'd normally say Kellogg with the above, you're fine recruiting from both schools and 60K is not a drop in the bucket. But you should prioritize your marriage, and having done two years commuting (by bus NY to DC) I know it puts an incredible strain. It's a strain just to have different hours in the same city, but if she's in graduate school as well the two of you can actually enjoy the perks of an MBA program together too.

See if you can get CBS to up the stake on the scholarship to remove that wrinkle.

See if you can get CBS to up the stake on the scholarship to remove that wrinkle.

barcelonafan · Answer

I am in a somewhat similar position with the same scholarship offer from Kellogg, an admit (no $) from CBS and a long-term girlfriend who will likely be in NYC for the next 5 years (residency). I prefer the Kellogg location/culture, consider the career options to be on-par (although I am not interested in AM), and the personal side obviously pulls me to NYC.

I have asked CBS if they will match, and recommend you do the same if you have not already. I think there is some hope, as they have distinctly avoided saying "no" to me, and are stringing me along a bit. I think they would have to come back with ~$70K+ to tip the balance towards CBS. The reason I am thinking about it this way is that I know that a huge debt load would really start to weigh on me as it builds throughout my 2 years. I want the full MBA experience, which means some extravagant spending during school, and think the scholarship would make that possible. I also like the idea of having additional financial flexibility post-MBA, which would allow me to take an interesting startup job that covers my expenses but would not support $1500+/month in b-school debt.

Agree with others that it is an inherently personal decision, but hope my perspective is helpful.

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