Wharton or Chicago GSB + $60k?

Question

I thought that I would choose Wharton if everything is equal. But now that Chicago GSB offers me $60k fellowship, and I don't know how much I may get from Wharton (don't know yet).

Any advice for me guys? Sometimes making a choice is so miserable, esp. when it will have impact on you for the rest of our life. And I'll have to place a deposit to Wharton next Monday to meet its deadline!

(For your information, $60k = 5.5 years of my gross annual salary now. And I want to work as an equity analyst post MBA, maybe spending 2-3 years in US then go back to Asia. 

At present, there are only a few (1 or 2) Chicago GSB alumni in my country, while there are about 12+ Wharton alumni. And those Wharton alumni keeps high positions in companies than those Chicago GSB alumni. Just to compare the network of 2 schools in my area. I guess brand name of Wharton or Chicago will sound the same in Asia?

I'll appreciate all comments from you. Thanks.

jaynayak · Answer

The brand name Wharton is obviously well know in Asia. IMO better than the brand recognition of Chicago but the advantage in my humble opinion ends right there. 

I won't be surprised if Chicago reaches the same level of recognition in a couple of years. 

I would say you are in a great situation here. You can't go wrong with any of the schools. My two cents would be to go to Wharton and ask them for money. You have nothing to lose.

Good luck

DJM · Answer

lillNemo, I am really happy for you! Enough though you are in a predicament, I wish that everyone has predicaments like you.

I would say that you should go with Wharton. WH has a much bigger global presence than Chicago. Plus, if you want to have a strong financial background, WH is the school to be on.

Off all the alumni that I have spoken with, not one has told me that money has been an issue in the long run. Hence, while 60K is a lot, I think in the long run, it will be worth it. Remember, the B school is a label that you will carry with you with the rest of your life.

Additionally, who knows, maybe you will get something from WH as well.

Good Luck!

diegmat · Answer

Iâ€™m an American (white dude) living in South Asia and must say that Wharton has a pretty impressive network here. Particularly in the larger Indian cities â€“ Delhi, Mumbai, etc. And alumni keep the legacy going as well â€“ a lot of the Wharton alumni send their kids to Penn U/G. 

I think when you make the transition back to Asia â€“ you will have a pre-existing network here because you went to Whartonâ€¦

naturallight · Answer

I think you have a great set of choices. I agree with the other posters who said that Wharton has a better worldwide brand. 

But graduating with less debt shouldn't be overlooked too. It will probably give you more options, more of a chance to start something of your own or work at a gov't or non-profit. 

But I would probably go with Wharton if I was in the same boat.

rhyme · Answer

I'd take the $60K. The difference between the GSB and Wharton is going to be minimal. By the time you get that Goldman Sachs analyst role, that'll carry you in Asia more than where you got your MBA from at that point.

rustmonster · Answer

What Rhyme said.

sm176811 · Answer

I would go for Wharton. It has a better brand name internationally!

little.nemo · Answer

Thanks guys. More comments are appreciated.

little.nemo · Answer

You're right, Rhyme. 

But what if when I move up to VP or President (maybe not of Goldman but a smaller one, or a branch or so...), will Wharton network help me better or Chicago do?

Could anyone please tell me the difference in living environment between Philly and Chicago? I'm not there yet so can't imagine. But I heard that winter in Chicago is more terrible than in Philly. Sky of Chicago in winter is grey most of the time?

GMATT73 · Answer

Little Nemo, which Asian country are you working in? It must be somewhere between India and China, not including either of the two given the stats you cite.

little.nemo · Answer

Yeah, your guess is right. I'm a Vietnamese living in Vietnam.

MoonShine · Answer

Chicago is a blast, and it's also my city of choice post-grad. I can't say much about Philly as ive never been there.

died4me · Answer

nemo,

60K may seem a lot of money for you for right now. I understand that.

But do not choose Chicago just because of this.

Go with what your heart tells you.

rustmonster · Answer

At that point your school will not play such a great role. It will be your work product / reputation and your personal network of people you've met in your career and made a good impression on - regardless of what school they went to. 

To me, based solely on the issues of networking / career possibilities in finance, its a no brainer going to Chicago (with $60,000) over Wharton. They are just not that different. Heck, dare I say it Chicago may even be better.

However, you bring up some interesting issues in your second paragraph - fit. I love both Chicago and Philadelphia (yes, I admit it). Chicago is much colder, feels bigger, is more beautiful (indeed, it has one of the most beautiful skylines in the world IMHO - each building seems like a famous architectural masterpiece.) 

Philadelphia is huge but to me feels smaller. (That is not to say they are nicer. Heck, Philly fans once boo'd Santa Claus.) But you can go like twenty minutes west of UPenn and feel like you are in the countryside. Heck you could even commute from out there. 

You have a high class problem. Congrats!

GMATT73 · Answer

I'm not qualified to comment on your job prospects in SE Asia, nevertheless Chicago and Wharton would have just about equal pull throughout the big three powerhouses: Japan, China, and Korea. 

If it were me, I would take the $60K and befriend Rhyme. Heck, that's virtually a free MBA at this year's #1 ranked school. How could you lose??

gmatmba · Answer

I think it just comes down to this:

If $$ is an issue and plays a big part in your decision : Then Chicago

If not, Wharton - no doubt!

$60k may seem a lot now, but depending on your post MBA goals (where you would like to live, what career you want to choose, etc - it may or may not be a big deal - it could be similar to the cost of a Mercedes or BMW that you buy)

rhyme · Answer

If you make VP or President, I'd imagine whether you came from Wharton or Chicago wont matter at all anymore. At that point, you are established. 
I'll post later on whats great about Chicago.

haddy74 · Answer

Had you ever visited both campuses, you would have never wanted to go to Wharton....Wharton is a very ugly and an extremely populated campus and i repeat тАЬit is an extremely populated campusтАЭтАжтАжit is not a campus, it is a shopping mall with freaking undergrad idiots running all around....Based on my interview experience at Wharton, I recall that when undergrad classes finished, jesus christ, all hell broke looseтАжI was standing in a lobby and students were simply pouring out of classrooms left and rightтАж.and the intensity of student population stayed the same for the whole dayтАж

Fully understanding that you cannot base your decision based on facilities only but when you are talking about two financial powerhouses that are so close to each other (Wharton has an edge with an exception for the city-size factor) in terms of resources, faculty, research, career options, brand equity, global reach, studentsтАЩ caliber, city size, and lifestyle, I guess campus facilities + 60K should be taken into account in the decision making process. Good Luck. By the way, Chicago brand is already one of the strongest brands in the business world but more importantly, its alumni are one of the most passionate supporters of their alma mater and the GSB administration is calling all right shots to further enhance GSBтАЩs reputation worldwide.

kwam · Answer

If I were you I would go to Chicago, since today the gap between the brands is not that big. I know some guys who did their MBAs in Chicago and now are working for GS, Lehman, MS, UBS, and other banks (most of them in London, because it is easier to get a visa there afterwards).

I have a friend who has just been accepted to Wharton, MIT and Ross with +40k, and he will take Wharton or MIT because he wants finance too, in his situation I think that is reasonable to let this money, but in yours I do not think so.

Wharton or Chicago GSB + $60k?

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