Say yes to HEC / IESE or wait for HBS / Kellogg decison

Question

A dilemma…

I have been accepted at HEC (Paris) and IESE (Barcelona) for their 2018 classes. I need to let them know my decision by the 2nd and 11th March respectively, which involves paying a 5-8k euro deposit.

However, I have also been asked to interview at both Harvard and Kellogg (my #1 and #2 choices) but won’t find out whether I have been admitted at either until late March. This means I either:

- Pay the deposit for HEC or IESE and risk losing the money if I get into HBS or Kellogg; or 
- Say no to both IESE and HEC but risk rejection from both HBS and Kellogg, leaving me with no b-school options on the table.

Any advice? Do you think I can tell IESE / HEC my predicament and say that, in order to make a well-informed decision, I need to know my position with all the schools I’ve applied to?

Thoughts appreciated! Thanks.

greenzie · Answer

Option 2 is a bad option IMO. You should contact HBS and Kellogg and told them that you already have admission to other schools but they are your first choice and ask them if you could hear from them earlier than end of March. Don't tell IESE and HEC that they are basically your safe schools.

dbrown · Answer

Both of those schools aren't going to give you an answer early. Kellogg interviews everyone, so I don't believe you have any sort of true indicator as to their interest. HBS admits roughly half of those who interview. If I were you, I would accept at HEC and continue with HBS & Kellogg. If you get into either, I think it's worth the loss of deposit once you know about scholarships and such.

bb · Answer

Congratulations on scoring 2 admits and 2 interviews (hopefully more admits coming).

Your best chance is talking to HEC or IESE (I would talk to both in case at least one lets you postpone paying a deposit). Otherwise, I think you are stuck paying $5-8K deposit for one of the schools. I don't see a good graceful exit and HBS/Kellogg will definitely not going to accelerate their timeline because you have been accepted elsewhere.

ENGRTOMBA2018 · Answer

Bschools in USA do not work like that. You can not ask them to expedite your application processing as they have a set process. You might as well end up becoming a nuisance for them by pestering them with such emails/calls. You will have to wait till the final decision if you do end up waiting for HBS and/or Kellogg.

national01  , how much are the deposits to IESE and HEC ?

bb · Answer

I have noticed European programs seem have significantly higher deposit amounts: IESE: Admitted candidates must pay a non-refundable commitment fee of 5,000 euros to hold their position in the program before the indicated fee deadlines https://mba.iese.edu/faqs/ HEC: 8,000 euros https://www.mba.hec.edu/Fees-Funding/Cost-Summary So that's about $5.5-9K in deposits. 10% of total US program cost.... quite a bit higher than what Kellogg asks for ($2,000)

Mo2men · Answer

Hi,

what is your short and term goal? where do you prefer to end up living and working? Europe or USA?

Although you have applied to 2 highly ranked schools in the USA, why did not you apply to highly ranked schools in Europe such LBS or INSEAD?

national01 · Answer

Hi,

- Short-term: biz dev in global media / tech company or M-B-B consulting (Europe).
- Long-term: general management position in global media / tech company (Europe).

Didn't apply to LBS because I currently live in UK and want to live abroad as part of MBA. Didn't apply to INSEAD because can't speak a second language.

Regardless, thought that IESE was a 'highly ranked' school - has been in top 10 globally for last few years in FT rankings (bar a large slide this year). Would you not say it is?

Thanks for thoughts all.

whiteshields1830 · Answer

IESE is definitely a top 10 school in europe, but i think a lot of the inflation in rankings has to do with the fact that its a absolute powerhouse in any spanish/portuguese speaking nations. This doesnt encompass just Spain/portugal, but also most of south america.

Having spoken to alumni, IESE doesnt have a lot of global presence - being that some recruiters in china have 'heard of it' (which doesnt sound like its as promising as 'oh yeah, theyre pretty big'), almost no presence in USA and slight presence in London (though LBS/oxbridge dominates there). Western Europe in general would be dominated by LBS and INSEAD, no doubt about it, though I know germans who know IESE as well - but I wouldnt put my chances on a few individuals.

So to answer the question, yes its a highly RANKED school, but in terms of brandname outside of spanish speaking nations, it doesnt hold a ton of weight, and youll find that outside of the big multinational companies like P&G, MBB, Nike etc....people wont have heard of it or know people who went to it. The worst thing is to go introduce yourself to a company and having to explain IESE or to 'sell' that IESE is a good school to them.

national01 · Answer

Hi,

what is your short and term goal? where do you prefer to end up living and working? Europe or USA?

Although you have applied to 2 highly ranked schools in the USA, why did not you apply to highly ranked schools in Europe such LBS or INSEAD?

Hi,

- Short-term: biz dev in global media / tech company or M-B-B consulting (Europe).
- Long-term: general management position in global media / tech company (Europe).

Didn't apply to LBS because I currently live in UK and want to live abroad as part of MBA. Didn't apply to INSEAD because can't speak a second language.

Regardless, thought that IESE was a 'highly ranked' school - has been in top 10 globally for last few years in FT rankings (bar a large slide this year). Would you not say it is?

Thanks for thoughts all.

IESE is definitely a top 10 school in europe, but i think a lot of the inflation in rankings has to do with the fact that its a absolute powerhouse in any spanish/portuguese speaking nations. This doesnt encompass just Spain/portugal, but also most of south america.

Having spoken to alumni, IESE doesnt have a lot of global presence - being that some recruiters in china have 'heard of it' (which doesnt sound like its as promising as 'oh yeah, theyre pretty big'), almost no presence in USA and slight presence in London (though LBS/oxbridge dominates there). Western Europe in general would be dominated by LBS and INSEAD, no doubt about it, though I know germans who know IESE as well - but I wouldnt put my chances on a few individuals.

So to answer the question, yes its a highly RANKED school, but in terms of brandname outside of spanish speaking nations, it doesnt hold a ton of weight, and youll find that outside of the big multinational companies like P&G, MBB, Nike etc....people wont have heard of it or know people who went to it. The worst thing is to go introduce yourself to a company and having to explain IESE or to 'sell' that IESE is a good school to them.

Points all taken...

But, as you say, it's got traction with MBB - which in my eyes is a good proxy for prestige.

So is your advice to wait for HBS / Kellogg and accept one of them if offered; if not, don't bother with IESE or HEC and reapply to other schools for next year?

whiteshields1830 · Answer

Youre putting a lot of gamble on MBB. Not to say that you may or may not get it - but that means if you dont get MBB or one of the second tier (but still strong) consulting firms like Deloitte, Strategy&, Roland for example...then youre left without a good lead. ATK, LEK, Oliver dont have a huge presence in IESE - though theyre still decent sized.

My take is to pick either IESE or HEC and put a deposit as a safety. Though HEC would prob be better if youre looking to return to the UK for work - its proximity to London would mean it would have a bit more brand weight than IESE (and to be honest, id rank IESE/HEC/IMD/IE/judge/said in the same league - so a few ranking points doesnt really matter). Comes down to where you want to work afterwards.

pinecrest515 · Answer

Congratulations on admissions to HEC Paris and IESE, both great schools. That said, I also agree that the best option is to hedge: Put in the deposit for HEC and/or IESE to reserve your spot, and then wait for outcome of HBS/Kellogg. If admitted by HBS/Kellogg, look at the deposit as a sunk cost. Else, both HEC and IESE are very good schools. It's a "nice problem to have", congratulations!

Mo2men · Answer

Hi, 
IESE possesses high reputation. However, I do not take the ranking for granted. I think you have chosen your best fit outside UK as you planned.

The situation is built around uncertainties. Taking into consideration the low acceptance rate in HBS & Kellog, you might consider depositing money in IESE or HEC and guarantee a place in next intake. Both schools are great and serve your aspirations. Both have recruiters from MBB. In case you could not make it into MBB, there are other tier 2 consulting firm such Deloitte or at least you can work towards media/tech. The employment reports show that they have access to media and tech. More importantly, you can build your network during study across Europe as you wish end up living and working. It is worth mentioning that you can expand you global MBA experience while being in IESE (not sure about HEC) through taking one semester as exchange student in the USA in big universes such as Kellogg and Duke. IESE has strong and various access to many universities in the US. Therefore, I may be leaning towards IESE more than HEC. Also, I prefer Barcelona over Paris. Again this is me.

In case you get acceptance from HBS, you can sacrifice the deposit as HBS is unparalleled experience and MBA is one life time experience and it provides you with global passport. If you got Kellogg but rejected by HBS, you need to weigh your options and factors such as tuition cost, access to employers in Europe and other personal factors. It is all your about the decision released from both schools and what comes with them (scholarships), if any.

In all cases, I see you a winner because of the schools you have applied to.

Wish you good luck

Say yes to HEC / IESE or wait for HBS / Kellogg decison

Prep Toolkit

Top 5 GMAT Debrief Videos

615 to 715 in 15 Days (Ria's Strategies)

More than Quant/Verbal Abilities: Speed vs. Accuracy

745 with Only Self-Prep and GMAT Club

From 555 to 765: 210-point Improvement

Perfect 805 Score Debrief by Julia

My Rewards