Fuqua $ vs. Kelley $$$

Question

I applied to Fuqua and Kelley and got into both. Kelley offered full tuition, fees, and health insurance as part of the Dean's Fellowship, while Fuqua only offered $20K in scholarships total for the two years. With this being the case, Fuqua would most likely put me in debt between $50-100K, while Kelley would leave me debt free without wiping out my savings. I'm still figuring out what exactly I want to do post-MBA, but am trying to creatively break into PE down the road (with the understanding that my non-traditional PE background most likely won't get me in with my first job out of Business School). Therefore, I've been leaning towards doing a couple years of IB...but again...still trying to figure that all out. When I visited Kelley, I got the impression that the school "punches above its weight class" and that its rankings don't necessarily do it justice. However, obviously Duke is a Top-10 school that brings in a whole different level of opportunities. I loved Fuqua, but am afraid of the financial burden / stresses of going that route. Am I crazy to turn down Fuqua?

redskull1 · Answer

Hi. I don't really know a lot about Kelley.Debt if you ask me isn't a big deal.I would go to Duke.You will probably have a 35 yr career.150k$ over that time will approximately be 500$ a month, if the salaries were the same.With Duke I am pretty sure your starting salary is going to be more.Also remember that you will do an MBA just once in your life.Go for Duke....

u1983 · Answer

Hello anon12321 .... welcome to the community. CONGRATULATIONS on the admits to two great schools.

Full-ride means a lot. But again brand-name is also very important.
I would have chosen Fuqua (even if it means a bit hardship !!

)

All the best !!

) All the best !!

BiotechGuy · Answer

Important to note that IB generally offers much higher comp packages than if you were wanting to go into Marketing / GM. With that said, I would be a little less worried about short-term debt. Payback period is probably only a few years if you are smart about spending and prioritize paying off the student loan. Coming from a fellow Hoosier, I would be leaning towards Fuqua. Just my $.02!

Mo2men · Answer

Congrats

The most issue here is whether Kelley could serve either of you goals. I doubt it. Kelley is not powerhouse for IB or PE. I think, assuming that you are a citizen, then Duke has an edge over Kelley.

mradamsmith · Answer

Congrats on the great options!

Given your goal, I think the answer is clearly Duke. Indiana does not have formal on-campus recruiting for IB and only sends a few students each year. Fuqua and its tier of schools is strong in IB sending 30-40 each year into a variety of firms and markets. The money may be difficult to stomach but if you are going back to school to reach your goal then Duke will offer that opportunity to pursue it versus an outside shot from Kelley. Yes the top 10 ranking is nice but it's really about the opportunity set and there is a big difference for what you are after.

Note: If your goal were corp finance or general management this would be a different conversation, but for IB there is a stark contrast. If your goal is IB or PE then yes, you would be crazy to pass up Fuqua!

anon12321 · Answer

Appreciate the thoughts and pretty consistent feedback. My only concerns here surround location of opportunities and ability to get into PE. My desire is to wind up in Chicago or somewhere in the Midwest. From talking with Fuqua alumni, it sounds like that is a (slightly) more difficult place to land...as Duke sends most MBA IB students to NYC, Charlotte, or West Coast. Additionally, I’m not fully certain that I want to do IB. My ultimate goal is to make it to PE, but at somewhat uncertain at this point what my best options are for getting there. I don’t necessarily want to go the IB route for lifestyle issues, but that seems to be the best option. But I am still learning. Is there much of a direct to PE without previous IB or PE experience change with Fuqua?

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Posted from my mobile device

mradamsmith · Answer

Not a problem--it's a learning process!

If your goal is PE, this gulf becomes even wider. However, it is extremely rare for somebody to go directly into PE without prior PE or IB experience (pre-mba). This is why I was discussing IB placement since that is likely a necessary stepping stone to reach your goal. Going directly into PE you would have virtually no shot coming from Kelley and a very long shot coming from Duke (but potentially a shot at least!). This is tough even at top 5 schools for those WITH prior PE experience.

Coming from the midwest to Fuqua, and potentially interested in returning: I have learned it is mostly self-selection. If you want it, then you recruit for those locations rather than the others. Duke will win here as well. That's the benefit of the national brand. If you search linkedin for Fuqua alum in Chicago you will find plenty, and a good # in finance/IB.

anon12321 · Answer

I think I'm still pretty hung up on the debt side of things (though I know this is debatable on whether or not it should be). Can you negotiate scholarship $? Could I go back to Fuqua and ask for more $? I know that Kelley isn't ranked as highly, so definitely won't expect a jump to a full ride, but is my other opportunity worth anything in the eyes of Duke?

Sobes4life · Answer

The worst thing that happens if you try and negotiate is they say no, I would definitely try!!

If you go to Kelley and can’t get a job in banking that you want, then that debt is not going to matter. Fuqua you can get a banking job and after your first bonus half your debt is gone. Then you get a PE job based on the banking job and you are set. The question is, do you think you can get that IB job from Kelley?

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anon12321 · Answer

Fair point. I've been spending a good amount of time trying to get an idea of IB recruiting through Kelley (though not many IB focused students go to IU, the ones that do have a high placement rate in Chicago). Assuming I am confident I can get there through Kelley, does the choice change? Or is the placement at top level banks through Fuqua so elite that it makes the point mute. Again, my goal in the long-run is still PE. Will it make a difference to a PE Firm if they have two candidates who both spend two years at BAML in the same group...but one has a Kelley and the other a Fuqua MBA?

Sobes4life · Answer

Maybe do an honest self assessment of yourself — are you the kind of person who can hustle? I think the point is many banks are not active in OCR there, so hustling and getting coffee chats etc. will become more key(and maybe tough given location)

Prestige of banks may matter too in your case if you are trying to hustle from bank to PE. Not sure on that though

Posted from my mobile device

Prestige of banks may matter too in your case if you are trying to hustle from bank to PE. Not sure on that though

Posted from my mobile device

mradamsmith · Answer

I can totally appreciate your aversion to debt, but if your stated goals are actually your goals, this should be an easy choice. Again, it isn't about the "ranking" or "prestige" it is purely about which school gives you the shot at your goal. There are schools ranked lower than Kelley such as Georgetown, Vanderbilt or Rice which still place people into IB/PE.

Granting your hypothetical of ending up in the same IB group at BAML and interviewing for a PE spot: the hiring firm isn't necessarily going to choose a Duke person over an Indiana person on that alone (though it could be a factor)--but they don't do the formal recruiting from associate level that they do for analyst level...so the reason you would GET the interview in the first place would be because you were able to network...likely with Fuqua alum in PE. There are virtually no Kelley MBA alum in PE, and they placed none directly into PE from the last grad class.

Duke at least placed a handful (2%) directly into PE and many many many more into IB which is the most likely stepping stone for your end goal. You have the rare opportunity to attend a top 10 program which places some people directly into your dream industry and many many people into an industry that could lead to your dream goal shortly thereafter. Should your plans or location change, you will get access to a nationwide network which a brand name that can unlock doors.

I want to reiterate that Kelley is a great program, this discussion isn't about that. It's about your goals and the outcomes offered. I spent far too much time researching these same paths because I share your goals, feel free to DM me for more specifics.

sorrowhill9 · Answer

Duke

Fuqua $ vs. Kelley $$$

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