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Wharton/HBS/Stanford or other UE MBA may not be worth it

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Joined: 14 Apr 2008
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Schools: F2010 - HBS (R1 - denied w/o interview ), INSEAD (R1 - admitted), Wharton (R1 - waitlisted & ding), Ivey (R2 - admitted w/ 60% tuition)
WE 1: 3.5yrs as a Strategy Consultant - Big 4
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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 07:12
interesting ... I had heard about the bonus being given as an incentive for you to lower your debt but wasnt aware of a plan to help you pay off debt in that fashion.

Is there a commitment required from you to the firm? For e.g. at DC I know that you have to stay for 2 yrs (post MBA) if you want to get tuition taken care of by the firm (which is only offered to select candidates to begin with).

terp06 wrote:
sm332 wrote:
With sales and trading and IB I agree that the breakeven point can be 2-3 yrs ... but with MC even at the top 3 firms I cant see it being that quick ... the salaries are what .... 125-175 based on prior experience?

I am happy to be corrected here!

sameer


I may be mistaken here, but I believe that M/B/B pay off your whole 2nd years tuition if you intern and then accept an FT offer with them. This is also a negotiable perk with a few other places if they like you enough and they have the cash flow.

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INSEAD Sept 2010 Interview Invite Nov 5, 2009 Admit & Matriculating
Wharton Sept 2010 Interview Invite Oct 30, 2009 Waitlisted & Ding
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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 07:18
See this post for more info on how the consulting firms' "tuition reimbursement" deal generally works.
http://gmatclub.com/forum/p418088#p418088

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Schools: F2010 - HBS (R1 - denied w/o interview ), INSEAD (R1 - admitted), Wharton (R1 - waitlisted & ding), Ivey (R2 - admitted w/ 60% tuition)
WE 1: 3.5yrs as a Strategy Consultant - Big 4
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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 07:20
thanks

solaris1 wrote:
See this post for more info on how the consulting firms' "tuition reimbursement" deal generally works.
http://gmatclub.com/forum/p418088#p418088

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INSEAD Sept 2010 Interview Invite Nov 5, 2009 Admit & Matriculating
Wharton Sept 2010 Interview Invite Oct 30, 2009 Waitlisted & Ding
Harvard Sept 2010 Ding without Interview
Ivey May 2010 Interview Invite Nov 23, 2009 Admit + $$

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 08:36
One thing to remember is M/B/B typically hire far more 2nd years than they do interns. Its very common for people to get hired by one of these companies but not have an internship with them.
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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 10:44
MBA aspirants are hopeful of having access to diverse career opportunites with an MBA degree they otherwise wouldn't have had. But I've seen people complaining that some companies want to hire MBAs only with relevant work experience.

If an IT engineer/Phd/nonprofit wants to get an industry/corporate job then isn't it difficult because they won't be having prior industry experience.

It could be easier to make a switch into IB or MC but if other jobs are so "hard" to come by, how helpful an MBA degree can be is a question in itself.

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 11:41
just4u1530 wrote:
MBA aspirants are hopeful of having access to diverse career opportunites with an MBA degree they otherwise wouldn't have had. But I've seen people complaining that some companies want to hire MBAs only with relevant work experience.

If an IT engineer/Phd/nonprofit wants to get an industry/corporate job then isn't it difficult because they won't be having prior industry experience.

It could be easier to make a switch into IB or MC but if other jobs are so "hard" to come by, how helpful an MBA degree can be is a question in itself.


You just need to use your best judgement. If for example, you have not worked in investment banking because you were unsuccessful at breaking in after undergrad, but in the past few years you have spent a significant amount of time researching finance/accounting and M&A/deal concepts and you nail the interview, you'll be fine. If for example, you have not worked in investment banking, have not had too much of an interest in it, but decided as soon as you started your MBA program that this would be a good way to bring in the benjamins, good luck with that.

The MBA degree will not earn you enough respect to entitle you to a job. At the very least, you have to be passionate and well-read about the industry and the job function.
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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 12:51
4,000 people every year can't be that dumb. It's worth it.

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 15:51
I wanted to weigh-in on this a little, because I am a career-changer and I do question if a top school would be the best investment for me. I agree 100% that success in business is partly relative to where you've earned your degree, but also what skills you bring to the table and quite frankly who you know.

A friend told me a few days ago, not to stress so much about the school and the GMAT and here's the reason he used:

At the end of the day, what do you call the person who graduated last in his class from medical school? I shrugged and he simply said "Doctor". Then he said, when was last time you went to a doctor and asked him where he obtained his degree and license to practice medicine? Never! And you trust that person with your health. . .

My point is make the decision that is best for you. Don't worry about what others experience has been because all you can make or break your path. Good Luck!!!

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 16:06
Unfortunately your friend didn't give you the full scoop....the way (one version of) that joke ends is..."and what do you a call a person who graduated last in his class from business school?"

"Unemployed."

:twisted:

humbled4real wrote:
At the end of the day, what do you call the person who graduated last in his class from medical school? I shrugged and he simply said "Doctor".

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 07 Aug 2008, 18:23
solaris1 wrote:
Unfortunately your friend didn't give you the full scoop....the way (one version of) that joke ends is..."and what do you a call a person who graduated last in his class from business school?"

"Unemployed."

:twisted:

humbled4real wrote:
At the end of the day, what do you call the person who graduated last in his class from medical school? I shrugged and he simply said "Doctor".


Ha!. . . Only if you are really that negative.

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 08 Aug 2008, 03:37
humbled4real wrote:
At the end of the day, what do you call the person who graduated last in his class from medical school? I shrugged and he simply said "Doctor". Then he said, when was last time you went to a doctor and asked him where he obtained his degree and license to practice medicine? Never! And you trust that person with your health. . .

My point is make the decision that is best for you. Don't worry about what others experience has been because all you can make or break your path. Good Luck!!!

Thing is, medicine and business are fundamentally different. Once you've gotten into any medical school (when I applied many moons ago, only 33% of all med school applicants were getting in anywhere... I don't know current numbers), you're effectively "in the club." Certainly an MD from HMS or Johns Hopkins will help you get where you want. But I know people from much lower-ranked schools who've gone on to great training programs and have become leaders in their fields. Conversely, I know folks from top-5 schools who failed to match into any residency program and had to scramble for training positions. It's a relatively egalitarian sort of thing dependent on grades and evaluations, dean's letters, USMLE scores, etc.

Business is a bit different. Once you start working at a company, your progress certainly depends upon your accomplishments. No argument there. But how do you get that job in the first place? HBS, Stanford, Wharton and others will open doors that would otherwise be unreachable. Later in your career, when you decide you want to move to another company or position, a school with a strong and accomplished alumni network will help you make that transition. The alumni network doesn't really exist in medicine. If you want to join a high-profile academic practice or successful private practice, they look at your CV and take a look at your training program(s), publications, and number of procedures performed (if applicable). If you attended a top med school and did well, that's nice but it doesn't end up carrying a lot of weight. The med school, in the end, serves as a stepping stone to your residency. And that's pretty much about it.

Edit: Sorry, that turned into a little diatribe. My point in the end is to get into the best business school you can. As humbled4real points out, once you get to school you do set your own path.

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 08 Aug 2008, 04:09
What do you call the person who graduated last in their class at HBS?


The President

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 08 Aug 2008, 04:46
riverripper wrote:
What do you call the person who graduated last in their class at HBS?


The President



Thankfully for only a few more months.

Anyway, this topic and that caveat has been around forever. The fact of the matter is, some people think getting into HBS, HLS, HMS, Harvard whatever or any top school for that matter is tantamount to winning the lottery. They think they'll get everything handed to them and they're on the glorious path to unlimited income while working 4 hour workdays and lowering their handicaps.

Fact of the matter is, it's not like that. With recruiting, it only gets harder. Remember how tough the gmat was? Now think back on it compared with the application process. When you're schmoozing with some fat suit, begging (in essence) for a job, you'll think this app process was a joke.

So no, the ultra elite MBA does not guarantee anything. But, you can do more things with it than without it.

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it [#permalink]

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New post 09 Aug 2008, 18:16
How you can measure worthness of any education/programm or so on? in money? in roi? but its stupid i think. any education and development bring much more to human than any these things. it is very difficult or even impossible to measure. I think money should be the last thing in consideration of important life decision.

For example, I have many interesting opportunities right now in my country which is booming. All doors are open, without any MBAs. But I desided to apply to a few top programs, lost 2 years and more than half million dollars, and than work for a few years abroad (London or US) for a salary 2-3 lower than my current one. its obviously very negative roi for me in money terms. Why I do it? Becouse I try to think not just for a few years or a decade ahead, but for the entire life. and this life has many other values than money.

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Re: Wharton/HBS/Stanford or other UE MBA may not be worth it   [#permalink] 09 Aug 2008, 18:16

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