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GoodName19
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If you’re serious about going to business school this year, and applying in round two, I would plan to pay the deposit. There’s not really a way around it...

If you’re choosing between this year or next year, then you can think about it.

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For sure I'd pay the LBS deposit.

Because you got accepted to LBS, you should forget Judge, LBS is a tier higher in terms of reputation and reach. I feel that you have 4 options then:

1) Recruit in Canada from LBS
2) Recruit in Australia from LBS
3) Wait for Kellogg and play your chances in the US
4) Apply to a US MBA either this year or next one and see if you can secure a spot there

If you're strong about the US, 3 and 4 are clear winners. End up in the US without a STEM visa is very, very hard these days.

For Canada, I would choose LBS. Kellogg might give you marginal gains (I personally consider them peer schools, others might not), but it is not certain, therefore a big risk. LBS has a good reputation in Canada, so you shouldn't have a tough time getting seen + I would see if there are exchange opportunities in Rotman, etc. Also, Canada is very welcoming with visas so you have a clear pathway there.

Australia is tougher, the MBA market is relatively small so arguably you'll have to work hard to get a job there. In any case LBS has a good reputation there as well, so don't think that Kellogg would give you an advantage worth risking the spot you already have. Same as Canada, check for exchange opportunities.

In sum, I think that LBS is a solid option for 2 out of 3 desired post MBA locations, so it is worth paying that deposit. If you get an acceptance from Kellogg great, you will add the US to your options, albeit at a high cost (LBS is c. $180k vs $250k for Kellogg), so I would only choose Kellogg if I am sure I want to go to the US.

Hope it helps!
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Hi,

An update, I didn't choose any in the end (because of online learning due to covid last year) and decided to reapply this year. Invited to interview at Kellogg and Cambridge this year. I guess 1 more year of work experience helped.