Urgent and hard decision to make. IESE vs LBS.

Question

Hello,

I've been following you since long time ago but this is the first time I post in the forum! I have a very hard decision to make and would hugely appreciate your opinion.

I applied to IESE and to the LBS in the R2, getting an offer from the Spanish BS and being waitlisted in LBS. I took the IESE offer but recently received an offer from the LBS. Now I only have 3/4 days to decide.

Objectives: I’m targeting a strategy consulting position in a top firm (MBB preferably). However, I’m also opened to work in corporate sectors after finishing my MBA. I want to work in Europe and both Spain and UK are the best options, although right know I would prefer Spain (Standard of Living is very good here with a post-mba salary) if I had to choose. Nevertheless, I would appreciate having an international experience at the moment as well.

Summary of major Advantages and Drawbacks of each school:

IESE:
+ Strong reputation in Spain.
+ Strong network in Spain. 
+ Strong reputation for Management Consulting and for General Management.
+ Barcelona is a very nice place to live. 
+ Less expensive program and cost of living (77000 € + 35000 € would be enough).
+ I’ve already made my first payment (5000 €).
+ I’m still a candidate for some of their scholarships (anything granted).
- It maybe has a little less reputation internationally.
- I’m Spanish, so the MBA wouldn’t be a full international experience for me (although I would try to do my Summer Internship and an Exchange abroad).

LBS:
+ Better reputation internationally.
+ I think it is going to push me more (intellectually) and out of the comfort zone.
+ The MBA would be a full international experience for me.
+ Very strong network in UK (Although people I met who are currently working in Spain have very good positions as well, several of them in MBB).
+ In the event of a financial crisis I think I would have more exits to choose (in terms of diversification + Spain usually spends a lot of time to overcome the financial crises because of the stiffness of its work market (among other factors)).
+ I would have to learn a third language (required in LBS)
- General reputation for Management Consulting (??)
- More expensive.

In summary, I think LBS is going to push me more intellectually (out of the comfort zone) but I don’t know if it’s going to be the best decision in terms of what I want to do afterwards and in terms of efficiency.

bb · Answer

Hi and thank you for posting. I have spent some time on the IESE and LBS site and their job reports. While the past performance is no guarantee of future performance, LBS seems to stand out with their candidates and placements across MBB; they placed about half of their consulting job placements into MBB (72 students for class of 2015) - I am sure you saw the employment reports. That's pretty impressive but that includes sponsored candidates as well, I am sure.

If you are planning to stay around Spain, I see no reasons to leave your network, connections, strengths. Half the folks stay in the UK after LBS and only 23% stay in Spain - perhaps due to the MBA job market size or comp? Perhaps I am being a bit closed-minded but I feel the IESE would be an equally empowering program in your situation, considering all angles, esp if the cost is a factor.

Don't think you will starve with either degree

Mo2men · Answer

I would usually vote for LBS because of high reputation across Europe and Asia. It can open doors even in Spain. If it is expensive to you, you won't lose when you join IESE. It is high quality program. It seems that you prefer to stay in Spain, which is an important factor. IESE has huge partnership with big universities around the globe. It will help you acquire international experience as you wish. Also, you can utilize its the alumni database.

bb · Answer

Also, don't miss a similar discussion: lbs-vs-iese-vs-esade-190051.html
The posters seemed to have favored LBS but nobody actually brought up the $$$ question. Would be interesting to see the differential you calculate (cost of living, moving expenses, etc)

Interesting enough, the poster matriculated in IESE.

SpainMBA · Answer

Hello and thanks for your quick answer!

I can afford both MBAs (although for LBS I would maybe need a loan). Money wouldn't be the my top reason for taking one program or the other, but of course is a factor to take into consideration.

IESE estimation cost: 77000 € (Program Fees) + 30000 € (Flights, Living expenses & Others) - 5000 (already paid) =  107.000 €

LBS estiamtion cost: 89.500 € (Program Fees) + 42.000 € (Flights, Living expenses -18 months & Others) =  131.500 €  -> This number is very dependant on how the exchange rate evolves in the following months. I'm optimistic taking into account last 12 months trends, but you never know.

Difference: 24.500  €

I'm still elegible for some IESE Scholarships but I'm also planning to pursue an external one that would be easier to get if i go to London, so I'm not going to introduce the scholarship factor into the eccuantion right now.

I won't have any problems in terms of sharing flat (actually I would prefer to live with other students) so I could cut in living expenses a little. Other thing to take into consideration is that the length of the LBS MBA is very configurable.

In terms of living here or in UK after finishing the MBA, I don't have big ties with Spain right now and I've never lived in UK. It's just the feeling that sooner or later I would want to come back!

Thanks you and kind regards,

Mo2men · Answer

If the money is not a issue and you can also secure some money in both cases, then go for LBS.

The only thing that no one knows is what the consequence would be if UK votes to be outside the EU. Is it still allowable for you (as Spanish citizen) to work in UK? I do not know. But I think you open to any place.

good luck

SpainMBA · Answer

Hello Mo2men and thanks a lot for you comment,

It's difficult to know the consequences of the Brexit. I suppose it would be harder to get a job in the UK in the near future but on the other hand I think the GBP would fall quite hard for some months so it would be quite less expensive to live there during the MBA.

By the way, political situation here in Spain is not clear as well (we have now elections again and the Catalonia secessionism is getting stronger).

Kind Regards,

Mo2men · Answer

Good point about UK and living expenses. So you can benefit from Brexit. :lol:

Have you considered Asia or Middle East for working location? LBS possesses strong reputation in Dubai. Let us know you final decision good luck.

VeritasPrepDozie · Answer

I would go with LBS here, great brand and a great student body with a truly global brand. Good Luck!

SpainMBA · Answer

Hello everyone,

I'll finally go to LBS.

Thank a lot for all your comments!

bb · Answer

Thank you very much for reporting back and putting a closure to this discussion.
Best wishes for your the next stage in your MBA journey! LBS will be a great experience, while it will be hard and not perfect, you won't regret your decision.

Mo2men · Answer

Goof luck for your MBA program.

I wish you success

Urgent and hard decision to make. IESE vs LBS.

IESE vs LBS

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