HBS vs Wharton/Lauder

Question

Hi everyone,

I've been admitted to HBS, Wharton/Lauder, and CBS all with varying degrees of aid. I've narrowed it down to HBS vs. Wharton/Lauder, but there's a lot of different factors at play into my decision. Hoping to source some opinions or perhaps hear from people who have been in similar situations.

I have four years of corporate and strategic finance at a top tech company (e.g. Microsoft, Apple, Google). I'm undecided in terms of target role/industry, but I have narrowed it down to Investment Banking (top 3 BB or EB only), Management Consulting (MBB only), or a PM or PMM role at a tech company (FAANG only or top startup). If I opt for IB or Consulting, I would look to pivot toward PE later in my career. I know this is crazy hard to do but with top IB experience post MBA and double Harvard or Harvard/double Wharton degrees, I think I have a decent shot.

Offers

Harvard Business School - standard MBA, $90K in financial aid, $20K complementary fellowship, and might be eligible for more fellowship funding or external scholarships

Wharton/Lauder - MBA/MA in International Studies, $140K in Joseph Wharton and Lauder fellowships

HBS

Pros: 
1. Unparalleled brand - this is self-explanatory, HBS is just more prestigious both domestically and globally. One thing to note is, I went to Harvard for my undergraduate, so there might be diminishing returns to multiple Harvard degrees.
2. Better placement in high finance careers (PE, HF, VC) - not sure I'll totally want to go down this route but want to maximize my odds should I opt for IB or Consulting route.
3. Best alumni network in the world - this is also a give, more CEOs and c-suite than any other school. incredibly powerful network
4. Case method - I personally love the case method and think it will prepare me well as a leader
5. Quality of Students - I don't know if anyone else feels this way, but I perceive a very felt difference in quality between HBS students and Wharton students with the former being much more impressive based on their LinkedIns and resumes as well as the people I personally know at each school.
6. State of the art campus and facilities - HBS' campus is unmatched with around 40 buildings including academic halls, dining halls, various residence halls, and a beautiful bucolic campus contributing to an overall more enjoyable quality of life
7.Location: Boston is preferable to Philly by a lot
8. Nostalgia: It's been a lifelong dream to attend HBS and, having gone to the college, I took some classes there, worked with professors, and have genuine relationships with professors, administrators, and advisors, etc. Choosing HBS would be more of a homecoming than a welcome to a new place.

Cons: 
1. Single degree/Difficulty standing out - at Wharton, I would be well differentiated with two degrees and two large merit fellowships. At HBS, I feel like it would be much harder to stand out and differentiate myself from the competition during recruiting. I also studied Economics as an undergrad, which is a dime a dozen degree even if from the top economics department in the world.
2. Money - while Financial Aid is generous, it just doesn't compare to the generosity Wharton/Lauder has offered. I could apply for external fellowships and scholarships. It will just take more time and energy and I would apply to them at Wharton also.
4. Technical/Quantitative Skills - my tech/quant skills are somewhat of a growth area. Don't get me wrong, they're strong but could be better. I don't think HBS, with its heavy emphasis on the case method, will provide me with a lot of these skills, so I would have to study them on my own. Whereas Wharton's curriculum is much more skills-based and varied.

Wharton/Lauder

Pros: 
1. Money - $140K in named fellowships, no questions asked. I know only about a third of Wharton students get offered fellowship support, and the majority do not get anywhere near this amount so would help me stand out given it's merit-based. I could also easily apply to a few external scholarships that would cover the remaining like $10K in tuition costs, essentially meaning full-ride.
2. Lauder/Dual Degree - this is incredibly appealing as I would love supplementing my MBA with global studies and language classes. It would also allow me to differentiate myself from the sea of MBAs and I could see employers, particularly MBB or even some BBs, really valuing the academic diversity of a non-business degree in addition to the MBA. It also just makes for a more interesting and formative educational experience and make me more enriching of a colleague. Would also get the opportunity to write a Masters thesis which I am excited about.
3. Quantitative and Technical Skills - Wharton's curriculum is flexible and allows you to skip a lot of intro courses to get into advanced courses that will actually teach me a lot. The curriculum is a mixture of teaching methods and would more reliably prepare me for a career in finance or consulting. For example, part of why I think my technical skills are not my strongest is because I went to a liberal arts undergrad, so I think a more pragmatic approach to education is really compelling 
4. Location: While I prefer Boston over Philly, Wharton is closer to home (NY metro area) and NYC which could help for recruiting but really would be more fun
5. Social/3 Day Weekends: I love that Wharton has three day weekends with no classes on Fridays. This allows for more opportunity to socialize. Granted, I'm not THAT outgoing, but still nice to have the flexibility in your schedule.

Cons:
1. Big drop in prestige/name brand - again this feels very real, especially abroad. I already have Harvard on my resume, so not sure how much of a factor this should play in my decision compared to someone who doesn't already have this.
2. Student body quality - this is probably the biggest con for me. Based on my experience talking to students, many Wharton students are just not THAT impressive when it comes to their academic and professional achievements. I'm definitely splitting hairs here. I know that this is going to sound incredibly disconnected (valid), but they tend to be smart/strong students who love business/finance and are motivated to put in the work to succeed in demanding industries. Whereas HBS students are much more likely to elicit a wow factor from me based on their academic and pre-MBA professional experiences. It feels like every HBS student wants to change the world and leave a lasting legacy. They tend to be more diverse, colorful, and unique, which is a big plus to me.
3. Location: Philly seems like not my ideal city. I don't think living here would be as comfortable as living on HBS' campus.
4. Limiting to Finance/Consulting - Wharton has less of a name/presence in the tech sector. There are plenty of students who still break in, but HBS is more renown universally so allows me some flexibility should I decide to pivot to another area.

So what does everyone think about my dilemma? I know both are incredible options. Would love to source opinions or ideas as to how people would go about making the decision or hear from any who have been in this situation or in similar circumstances.

Much appreciated!

bb · Answer

Rule 1 of GMAT Club, if admitted to HBS, go to HBS. Sorry for the dumb comment but it is to some sense silly and stupid and down to the basics.

While Lauder is a great opportunity and addition, I am not sure that it will distinguish you really. I feel like it’s almost something you get for your personal satisfaction. No offense to the latter institute is intended but I don’t think an employer will look at your résumé and be really blown away that you have an MBA and an MA in international studies. I feel more likely scenario is that they will look at your résumé and say all right here she went to Wharton and they have this other secondary major they got that I never heard about so whatever, let’s look what else they got on the résumé. I feel that the differentiation on your résumé is actually going to be your internship and your prior work experience.

The business school is a validation. Nobody cares what was your major over the grades you got during the business school. What recruiters will care about is how you perform during the interviews. The fancier the company, the more rounds of interviews you’ll have to go through. Getting chosen for the interview is determined by your business school Pedegree and your fit or rather imaginary fit for the qualifications. Getting the job depends on how you perform on the interview. Your interview performance will depend on how disciplined you are and how much you’re able to connect with alarms and people in the field and involvement in the clubs.

For the HBS aid, I believe you’re expected to pay it back in some way later. Is that correct?

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ceeztheday · Answer

Got it, thank you. This definitely makes sense so appreciate the comment.

With regard to your question, no the aid is a combination of need-based and complementary fellowships, neither of which have to be paid back, so it’s not a huge delta in the grand scheme of things.

I also know graduate students can serve as resident tutors at Harvard College which would provide free room and board as an extra way to save money.

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JudyB · Answer

Hi there! Congrats! I have a friend who had the same problem and he chose HBS. I think both are great and target schools for all the firms possible that you listed. Which track are you on for Lauder?

On the other hand, I have heard of people turning down both Stanford and Harvard for Wharton-Lauder. For example in Lauder’s promo video. Lol.

I voted for HBS because I saw my friend do it, and he’s pretty successful so far. I guess I would also have really struggled if I were in your shoes too.

Good luck!

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bb · Answer

It is an easy argument to make for Harvard, because there is Harvard and because of the case method and because of not having regrets or explaining that you went to Wharton but you got a full scholarship and so on and so forth.

I feel that Wharton would make sense if they were certain particular employers that you were really after that were only recruiting at Wharton and there is a lot of times the case between Kellogg and Booth and Wharton but usually Harvard trumps those cards. Usually if you can flash of Harvard MBA on your resume you will at least get some kind of a response or call back.

I don’t see a lot of other reasons one would pick Wharton. I can see if the financial delta was greater or if you wanted to be in Philadelphia but I’m not seeing any of those. 🤷‍♂️

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tillys · Answer

Seems like bb is a strong proponent for HBS. I'll give Wharton's side of things (though I'm not at Lauder). I turned down HBS for Wharton and am currently at 2Y at Wharton going into UMM PE for FT. Similar to you, I come from HYPSM and worked in MBB beforehand. I do want to caveat there are a couple of Lauder people in 1Y that have turned down HBS, idk about others obviously since this isn't really a thing people talk about once on campus.

On the branding front, I agree HBS has the edge here, and maybe it's true that there's a "big drop" in certain parts of the world where you want to work, I wouldn't say there's a "big drop" in the US or Asia and certain parts of Europe (in East Asia, Wharton arguably has a bigger name than HBS). So it really depends on where you work. Also, personal opinion is that the branding doesn't make a difference because imo once you have 1-2 big brands on your CV, an additional big brand is not going to add that much.  I do think most people romanticize HBS or big brand names in general because they lack any on their CV. So for these people, I do agree go for the biggest name you can get. But since you already have Harvard UG, the marginal prestige difference between HBS and Wharton is going to be nil.  I'm sure you know coming from Harvard UG, the brand name is nice but there's only so much it can do (also analogy in my head would be Yale Law vs Harvard Law, or Harvard UG vs Princeton UG, both Yale Law and Harvard UG relatively more prestigious and wins more cross admits, but are you really going to stand there and tell me there's a big difference between YLS vs HLS as the #3 law school or Harvard UG vs Princeton UG?)

On the people front, I think both schools have impressive and average people ( but if you genuinely think Wharton has unimpressive people, then I think you should go to Harvard because not sure if I want to be classmates with someone who thinks their peers are unimpressive  - lol we already had that *incident* this semester). Not sure who you talked to at HBS, but some of the people I know and are childhood friends with are currently at HBS. They are relatively "average" and simply just want to work hard, get a good job/make money, definitely not change the world types (maybe they say something different in their application essays and are simply paying lip service). They are obviously very high achieving individuals, but I'd say the "change the world" types are mostly at GSB, and a lot of the HBS'ers simply land in consulting, etc. I'm sure HBS also has fair share of impressive people, but at Wharton I've met people who are founders of startups, people who've had high 6 figure exits, ambassadors for the UN and athletes performing at the highest level.  Tldr, both schools have average + impressive people.

On the network, HBS deinitely has a fantastic network. However, there's no real data to back the fact that HBS has a more impressive list of alums than Wharton (sure it has more F500 CEOs, but I wouldn't use that as the conclusive evidence). I think Wharton has second most unicorn execs after HBS (72 vs 66) or something like that. I've also had great experience networking with UG alums for VC, so take that into account.  Once again, you have Harvard UG, so going to Wharton is going to almost triple your network (Harvard network + Wharton MBA/UG network + Lauder network).

Culture/Curriculum/Location: imo it's going to come down to this. Do you prefer a more rigid case curriculum or a more flexible quantitative curriculum? Do you want to be in Philly and close to NYC or Boston? Do you want to party hard for 2 years or be more chill and study more?

bb · Answer

Thank you. I really appreciate the Wharton perspective.

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JudyB · Answer

Hi! Just wondering whIch one is “party hard” and which one is “more chill and study more”? Thanks!

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tillys · Answer

Wharton is very social (constant social gatherings and trips abroad), where HBS is more tame (HBS is known for its academic rigor). Two very different culture, and GSB is somewhat in the middle between the two.

JudyB · Answer

Ohh I see. Thanks!
By the way, how “quantitative” are Wharton’s classes? Is it just the core or are most classes very quantitative?

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bb · Answer

I love how close the poll is despite the HBS name 👍 Shows the power of Wharton!

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tillys · Answer

Haha yep, for those in the know, Wharton Lauder is one of the most prestigious programs out there for international business, so it's not uncommon at all for people to turn down H/S for Lauder. I just didn't want to boil this point down to the prestige p*ssing contest that sometimes MBA decisions come down to.

ceeztheday · Answer

First of all, thank you this was super helpful and I think I needed to hear a lot of it. And of course, I acknowledge my hyperbole with the student body quality. Wharton has lots of impressive students though on average I have been more impressed with HBS, anecdotally. More specifically, would you mind if I PM you? If the incident you're alluding to is the same one I'm thinking of, then I would love to hear more of your thoughts. Reason being, I believe I was privy to this pretty public fiasco that went down socially at Wharton this semester and, consciously or unconsciously, this might be somewhat influencing my decision because I don't think it was a good look for anybody involved, the individuals, the school and culture, etc. I just remember thinking something like this would literally never go down at an HBS, so would love to hear from you and your perspective in a more private forum if possible.

ceeztheday · Answer

Also, thank you everyone who voted/commented. Your insights are very helpful and valuable food for thought as I go about making this very difficult decision! Appreciate you all!

tillys · Answer

Yes of course, happy to chat.

bb · Answer

Thank you for this wonderful discussion. Good luck with the decision and thank you so much for everyone who pitched in to help. Happy holidays and merry Christmas!🎄

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