Received admissions from two great schools - Booth ($/25% of tuition) and CBS ($$/half tuition).
Post MBA goal is (1) IB associate (2) fixed income/credit investment management (i.e. PIMCO, Doubleline etc.).
I don't have a preference for location! Pretty much equally open to working in NYC or Chicago post-MBA.
1. Cost
CBS offered me a slightly higher scholarship (+40k vs Booth) but I think the net difference would be smaller after accounting for cost-of-living.
2. Reputation/Brand
As an international myself, I like how Columbia is well regarded internationally, but Booth seems to have an upper-leg in the recent MBA rankings and reputation over the past decade. The difference in rankings is material -- it meaningfully persisted for many years.
People say rankings and brand don't matter.. but to be honest I think it does matter. I have seen highly successful people form stronger cliques and engage more actively with those from elite backgrounds while efficiently neglect people without such backgrounds. It's just an unfortunate fact that people do act in that way -- which can subtly impact my future boundaries in terms of network and persuasive impact. This is a sensitive issue but I view this as the pessimistic truth that many won't openly admit.
But again, Booth vs Columbia is a very close call and in many ways impossible to differentiate. So the above thought may be a super over-kill -- but I'm just letting my thoughts out there.
3. Post-MBA plan/School fit
CBS has a great value-investing program which definitely appeals to my secondary interest in investment management, but the VI program seems to focus more around equity strategies (value/growth/long-short) vs than fixed-income/credit. I may be wrong.
In IB recruiting, I believe the two schools are on par, but it seems that the internal competition will be more grinding at CBS given the larger peer group that will compete for post-MBA finance. I can see a lot of people matriculate to CBS for NYC consulting or NYC IB as primary goals -- more than any other Bschool. Booth seems to have a smaller number of students who aim for IB, which may potentially result in a more collaborative/"peaceful" recruiting process. This is just my guess though.
Also adding the fact that Booth mainly operates through on-campus recruiting (IB shops flying in to Booth) vs CBS students expected to competitively network throughout the city -- I think the energy and time absorbed will be much less at Booth, which may free up myself to explore other interesting/practical activities.
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Considering the above factors, I am still torn between the two programs!
Would love to get a 3rd person's opinion. Thanks a lot!