Help!! Tuck (no $) vs. BC full scholarship

Question

Hi guys,

I would really love some input on this. I am a career changer and was shocked and excited to be accepted both to Tuck with no money and to Boston College with a full tuition scholarship. I'm having an extremely hard time picking between the two. Here are the factors I'm considering.

-Want to move back home to Boston after I finish my MBA. Seems like both schools have a strong network and a large presence in Boston.
-I'm a career changer without any relevant business experience (maybe I need the ivy name to strengthen resume? idk) 
-Tuck was my #1 choice, but I really liked BC too, but now that I'm into Tuck BC kind of feels like "second place Tuck." (I think I'd like it more again if I recommitted to attending.) 
-Tuck will sink me into close to 200k in debt, which is terrifying. I currently don't have any debt of any kind. 
-I'm not 100% sure of what I want to do after graduation, but I think either a general management track or marketing/brand management. I think BC is good for both but Tuck is great for both. 
-Of course I want a great two years, but an MBA is more about the ROI for me than anything else. 
-I don't want to go into finance or consulting. 
-Many of the companies I'm interested in, such as Ocean Spray or Hasbro, do hire BC grads, but I wonder if I would have an easier time finding a job there or elsewhere coming from Tuck

I'm unsure of so many things. Will Tuck get me higher paid internships in marketing or management than BC would? I know a lot of the really top firms you're expected to be move wherever they want, which I'm not really willing to do as of right now. Are there any "top" jobs in Boston OUTSIDE of finance and consulting that would make Tuck worth the investment? Will that famous Tuck network get me 200k of jobs and raises down the road?

Ok internet strangers, decide my future!

Lee

bb · Answer

How would Tuck be $200K? it technically should be around $130K more than BC or did I miss the nightly champagne and caviar? ;-)

Lee216 · Answer

I asked myself the same question :-/

The tuition at Tuck is obscene at 66K/year, plus a 4,800 "program fee," so basically 70k+ a year. It kind of annoys me bc I haven't seen any other program fee CLOSE to that high, so I feel like it's basically a made up charge to avoid writing the truth, which is that tuition is 70k.

Add COL, which is surprisingly high up there (captive audience I guess) at around 11k a year for rent and youre at 81k a year. Then just add food and I'm guessing skiing all the time (that's what Tuckies do right?) and I'll be expecting to spend about 90k a year.

Lee216 · Answer

Sorry, just to add on, you do make a very good point in that I'll be paying about the same in rent either way (crazy as that sounds), and differences in cos of living if anything I assume would be higher in Boston, because there's more to do.

So, while the total cost might approach 200k, esp with interest on loans, the actual difference between Tuck and BC will be more like 140k.

So, while the total cost might approach 200k, esp with interest on loans, the actual  difference  between Tuck and BC will be more like 140k.

bb · Answer

I have never used this analogy so don't judge me too harshly. It is like choosing between being a part of the World Series or local weekend baseball league. You will definitely stand out in the games, and when people will find out that you passed up World Series they will look funny at you, esp those who are better off financially.

So you'd better have a good enough reason to tell them why you chose BC instead of Tuck and be committed to it as a lot of people will question your choice. I feel it should be more than just money at this separation level - #8 and #50.

In terms of what you can expect - no, Tuck will not guarantee anything. Nobody will take a cadaver just because they have sat through a year of lectures at Tuck. However, you will be presented with more opportunities and likely better ones too. Not knowing which field you are headed to, is hard to give more feedback, but in General, Tuck will signal to employers that you are serious about your career and growth.

BC with scholarship will signal that you are a safer player who wanted to try the MBA thing since he was offered one for free. Expectations at Boston, I would guess you would be a more prominent member of your class in terms of something (Work experience, comp, or scores) and likely be a student that school would be comfortable recommending to suitable recruiters though most on campus career services (at all schools) are overworked and too focused on improving the student's resume and perception and not spending enough time reaching out to potential employers/companies. You would be a big fish in a small pond if you like that but you will feel somewhat a lack of challenge or peer company or folks to look up to/grow.

Ultimately nobody has been able to go to a program, go back in time, and go through a second one and then compare their experiences, so the outcome is never black and white but there is no doubt about class mix, professor choices, and employer engagement between the 2 programs. You can still be a CEO of Apple or a total loser in either of them but when it gets to the middle 80%, I feel you would be better educated, challenged, and equipped going to Tuck.

ThisSideofParadise · Answer

I'm a first year BC MBA student, and I accepted a partial scholarship to BC (turning down schools like Georgetown and UNC full pay) and I have been very happy with my decision. I'm interested in finance and was able to get a multitude of interviews (Fidelity, Bank of America, L'oreal) and secure a good internship. Obviously, Tuck is amazing but BC has a strong reputation in the Boston area and I can atleast say you will be fine from a career standpoint.

whiteshields1830 · Answer

You dont want finance or consulting...which Tuck is most famous for. They also have a very tight alumni network - though again, they mainly are in consulting or finance.

Id take BC with the full scholarship. You want to work in Boston anyway.

Lee216 · Answer

Hi bb,

Thank you so much for your thoughtful answer. I appreciate your advice a lot (and I liked your analogy too!). I'm assuming you don't think not wanting to be in a big consulting firm is reason enough to pass on Tuck? I know prestige is very important there, but I'm not sure how it would factor if I want to go into marketing or management. It seems from your answer that it would still matter, which is the big question I was having a hard time answering.

A big differentiater for me at BC was a very high GMAT, combined with being a woman. I'm proud of my GMAT, but I think it would go less far in terms of getting me a great marketing job out of the gate than if I had gotten a full ride for my stellar work experience.

Thanks again! 
Lee

Lee216 · Answer

Thanks so much! I appreciate you offering your POV. I've heard of a lot of BC kids picking Carroll over places like Georgetown. It's nice to know you're happy and succeeding there.

Lee216 · Answer

Hi Whiteshields,

Thanks so much for your feed back. I'm wondering where you got that impression from? Obviously a lot of people from any ivy are going to go into consulting, but it's a general management program with a lot of hard hitters in the marketing department. I'm wondering if you're privy to something I'm not.

Thanks again for the input!

bb · Answer

There is a different question that arises as well - family perspective.
Would you potentially have to leave workforce a few years from graduation (e.g. 5) to have a family? If your mom stayed at home with kids, you will likely try to do that too - no reason to have student debt while you are home with kids. If your mom was working, you are likely to work as well. In this case a full scholarship at BC will trump the overall perspective/picture.

Yes, your GMAT won't be too useful in Marketing though would still put it on the resume - a nice affirmation for the employer that they are getting a bright star, rather than a dull tool. Do what you are comfortable with and what feels right. If you are aggressive and risky, I think Tuck will pay off and if you are more conservative (a good quality too), BC has a great ROI and nobody can fault you for that.

Lee216 · Answer

An interesting question... it frustrates me that I get asked this so often, while my male friends who just applied to B schools never get the same question. i'm sure it's part of the reason we the gender distribution we do at top business schools. I don't see myself having children, nor does my partner, but at 27 I guess it's hard to say for sure.

I know this is a reality for many people, but it's still upsetting that in 2016 I'm getting such different messages than my male peers.

I know this is a reality for many people, but it's still upsetting that in 2016 I'm getting such different messages than my male peers.

VeritasPrepDozie · Answer

The schools from a reputation perspective are not really in the same ball park, I know the money at BC is a great incentive for BC however this a very rare decision because most people who apply to a school like Tuck don't apply to a more regional program like BC. Your interest in BC makes sense but if any school satisfies most of your requirements outside of BC it is Tuck. I would go with Tuck here. One other thought, I have not looked at the numbers but I am assuming the life time value as well as the avg salary coming out of Tuck probably is considerably different in favor of Tuck as well to answer your question about the monetary aspect of the decision. Good Luck

ThisSideofParadise · Answer

The average total compensation for BC last year was $103k (and 88% employed within three months). The main benefit of a school like Tuck is they are a feeder for top-tier consulting firms (McKinsey, Bain, BCG) - but if you want to do corporate finance or marketing you can get those same jobs at BC and graduate without debt. Also, I think living in Boston would be a better experience than NH.

I think Tuck is a great school, but it really comes down to your career interests. The general rule is to not take out more debt than you expect to make as your first-years salary.

Lee216 · Answer

The averages are actually something that bug me. I don't really see how it's helpful for me, since so many people go into finance and I'm not planning to. I'm working on getting more specific info on marketing from their career services.

Mind still isn't made up with not a lot of time to go.... any current or past tuckies care to weigh in?

Mind still isn't made up with not a lot of time to go.... any current or past tuckies care to weigh in?

bjb5228 · Answer

The Marketing Director for my old team was a BC grad, works/lives in Boston. Just FYI.

Flyte · Answer

Pick Tuck, the debt can be scary, but there is a massive gulf in terms of options.

The bolded bit above is extremely misleading. Yes, Tuck does place a significant amount of our graduates into top tier consulting and IBD; however, if you are interested in General Management specifically, we have half a dozen going to Wayfair in Boston, a dozen going to Amazon, three or four going to Under Armor, a half dozen going to Microsoft, four going to Walmart, etc (3M, Cargill, Nike, P&G, basically you name it). Of these places, most WILL NOT recruit BC MBAs, and the ones that do it will be for lower paid / different roles generally speaking.

PM me if you'd like to discuss further, always happy to discuss Tuck.

mfprado1073 · Answer

The way I would rationalize this question is in terms of breadth and depth of the career opportunities each of these schools will open for you.

-  Breadth : Tuck will definitely offer you a much greater array of career opportunities than Carroll, no question about it. These additional positions are likely to be more prestigious (management consulting, IB, tech companies), with better pay and better exit options.

-  Depth : When a corporation looks at its workforce, it is constantly assessing who is fit to become a top manager, who is fit to become a middle manager and who they don't see as managers at all. As a Tuck graduate, you'll most likely be seen as a member of the first group and will likely be presented with better opportunities throughout your career. As a Carroll graduate, I would imagine large corporations would place you in the "middle manager" category for quite a long time.

Tuck is much broader and deeper than Carroll.

It depends, as always, on how you see your life in 5-10 years. Are you ambitious? Do you want to be on the top ranks of large corporations? Pick Tuck. Would you prefer having a middle manager position, with stability and an honest pay in Boston? Pick Carroll, as the extra debt won't serve you for nothing.

ThisSideofParadise · Answer

Prado, if two candidates are already working at a company - they judge the candidate on their leadership ability for promotions. Saying a candidate will be stuck in middle management due to the school they went to is absolutely not true. Also, in terms of Carroll there are lots of alumni in high positions at elite financial institutions.

mfprado1073 · Answer

ThisSideofParadise  thank you for the input. Nothing in the world is binary, fortunately. I am very confident a lot of BC grads, either entrepreneurs or executives, reach top management positions in all industries and are extremely successful, more than a fair share of graduates from better-ranked schools.

My point is that going to a deeper and broader school, as I call it, will increase your chances of reaching that top level in your career. Coming from a less-recognized school, I believe you'll have to dedicate more efforts to become a top manager, if that is your desired career outcome.

Help!! Tuck (no $) vs. BC full scholarship

Help me pick!

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