Ross (80k) vs Stern (Full Price) [Solved: Ross]

Question

Hi All,

I was thankfully admitted to two of my dream schools this year, Ross and Stern.

I am however going through a difficult decision and would enjoy some advice.

Goals : I am looking for employment in NYC (or NJ) post MBA. My dream roles would be in management consulting at MBB, or PM / BizOps at FAANG.
 Other note : I currently have firm sponsorship at my B4 firm as a fall back if I do not land dream roles. This sponsorship would cover full tuition but I would be required to pay taxes on the lump sum.

Ross :
Pros: Love the community, alumni, and the opportunities within the program. 80k tuition scholarship reduces debt amount heavily, requiring only 80-90k in loans.
Cons: Have to move from NYC and my SO who I live with now (major con). Only 18% or so of class ends up in NYC.

Stern :
Pros: Great networking opportunities for roles in NYC. In-semester internship possibilities. Get to continue living with SO and enjoy the city for a couple more years. Most students will remain in NYC post MBA.
Cons: Cost of living and tuition debt will be killer, would have roughly 190k of loans. Student body doesn't seem to be AS tight as it is at Ross.

bb · Answer

Congratulations on your admits! It is a bit surprising since Ross and Stern tend to be "peer" schools in some industries though Regenerate put Stern as #7 vs. Ross # 13 in his rankings https://gmatclub.com/forum/gmat-club-mb ... 35846.html but then in the same "tier" in the matrix table: https://gmatclub.com/forum/financial-ai ... 42190.html so per that table, Ross is a great nice offer.

In the past, being on the ground has been important. It was important to have on-campus events, to be able to have coffee chats, in-person meetings, and others. It feels some of the lines are blurring now with the COVID here to stay for who knows how long. I always say/said - go to school in the location you want to end up in. No reason to pick up and move only to come back...

One quick thing to point out, NY offices for MBB are super-competitive. You will be competing with lots of HBS, Columbia, Wharton, Tuck, and even Kellogg folks. Very competitive and tricky. While 50% of the stern folks do stay in the NY area and 40% get consulting offers, it does not mean there is a perfect overlap between these two groups or that they are MBB in particular. What you are betting on is a chance. More likely you will get a spot in a regional MBB office and even more likely a position at Deloitte or AT Kerney if you are a part of the consulting track and at that point, will you choose it?

There is confidence in the fact that everyone moves away from Ann Arbor. If you take the Tech path, you are likely to recruit in the West (Amazon, and Microsoft are big Michigan recruiters and MBA recruiters in general). There is some tech in NY but not the numbers you would encounter on the west coast.

Sorry for a round about way - this is my logical reasoning way of leading myself to a conclusion

I feel there are some connections that would make Stern a more likely candidate for NYC recruiting and the network would be helpful but you would have a TON of competition with chances stacked against you. Many of the more interesting roles/positions would potentially take you away from New York, esp the ones at Ross. If you are planning to be in NYC, I still think it makes no sense to move away. Think of it as a payment for being in the city... if this is important to you. You can definitely find many options and jobs around the country but if you want a strong network and folks around, I would instead try to negotiate a scholarship as I still think $80K is a substantial premium. CHeck out the scholarship netogiation topic in this forum and see if Stern could match potentially. Be nice

P.S. MBASomeTime - what do you think?

Good luck!
BB.

I feel there are some connections that would make Stern a more likely candidate for NYC recruiting and the network would be helpful but you would have a TON of competition with chances stacked against you. Many of the more interesting roles/positions would potentially take you away from New York, esp the ones at Ross. If you are planning to be in NYC, I still think it makes no sense to move away. Think of it as a payment for being in the city... if this is important to you. You can definitely find many options and jobs around the country but if you want a strong network and folks around, I would instead try to negotiate a scholarship as I still think $80K is a substantial premium. CHeck out the scholarship netogiation topic in this forum and see if Stern could match potentially. Be nice

P.S. MBASomeTime - what do you think? Good luck! BB.

Regenerate · Answer

I'm curious ... what did you decide?

If you've not decided, I'd be VERY hard pressed to not take Ross's offer!

t1293097 · Answer

Hi Regenerate!

It was a very difficult decision. However, I have decided to attend Ross.

Stern was a major dream of mine for years and am extremely fond of the branding and prestige

However, my experiences connecting with current students and alumni were not nearly as impressive as what Ross had to offer. Additionally I narrowed my focus to MBB and believe that Ross is better suited for this path. The money is also too significant to pass up especially when you consider interest rates down the line.

bb · Answer

Congrats and great job making the decision! I don’t think you will regret it and while things will be tough and tricky part of the way whichever program you choose. The key is to make the choice that gives the least regrets. Again, I think you have made the right choice!

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Posted from my mobile device

t1293097 · Answer

Thanks bb! Yes I think so too. I still have the desire to return to NYC but after talking to some Rossers, it seems like a good bunch of the students are able to land MBB in the NY/NJ/CT/DC offices especially if you have family ties to the region which I do. I'd be happy with any one of these offices as it would bring me close to home. \

When factoring in $80K of post tax dollars I realized this would take roughly ~4-5 extra years to pay off unless I really taper down my living quality. At that point I feel like the debt isn't even worth going to B-school as I would have golden handcuffs to any firm that I landed afterwards. Ross provides more financial freedom and more importantly, flexibility to change jobs with less risk further down the line.

Also I visited Ann Arbor and loved the city!

bb · Answer

Congratulations on your decision! 
Yes, you would be looking at $1,500 of loan payments per month with a 10-year loan otherwise with a full sticker price. Less if you have a longer payback time. Some folks do manage to suck it up and live the semi-student life style for 3-4 years after bschool and pay it down substantially. Really depends on what you spend but I can totally get it since these 2 schools are in the same group and similar experience.

Again, congrats!

Ross (80k) vs Stern (Full Price) [Solved: Ross]

Ross vs Stern

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