So you are all set with your applications and interviews. You get two offers: One from a top 20-school with no money and the other from a lower ranked school with 80% or more off. Lets say you got an offer from UNC (I know its 21st now but you get the point) with no money, and lets say Boston University with 80% scholarship. Which one to choose?
2 years back, I would have chosen UNC in a heartbeat. THis would be my reasonsing:
1. Well its a top school, so will get better employers.
2. Look at the placement stats, McKinsey hired X number of people.
3. RTP is a technology hot bed, that's gotta mean something.
4. I will make up for the "lost" scholarship money in 5 years. No big deal!
NOW I know that all of these justifications were wrong....
1. Frankly, the list of employers grows more because of location NOT ranking. UNless of course you are HSW.
2. Look at the competition... everyone wanted to work for McKinsey.... If you get hired great but what if you don't? What other companies, smaller ones, come to campus? How many hire internationals? You will find better options in Boston than NC for almost any industry.
3. RTP is a bio-tech hot bed NOT IT. There are companies like Cisco, IBM but they do NOT hire internationals.
4. Why lose any money at all? YOu can invest the "saved" money or blow it away. Either option is better than paying the premium for ranking.
Today, I would choose Boston in a heart beat. Don't make my word for it. Talk to students at both schools and compare the satisfaction levels. Talk to students with and without jobs to get a clear picture.
Ranked school with no money vs a lower ranked school with money...
Posted by
Anshul / July 5, 2010 /
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8 comments:
This is untrue. If you worked hard it would have paid off....there are always going to be winners and losers...don't be bitter that you didn't reach your goals. Every MBA program is competitive and if you are good enough, you can get to where you want...I am a recent MBA graduate. Instead of spending your time with this blog...you should be looking for a job.
Firstly, thanks for your post. The purpose of this blog is to help prospective MBA students make an informed decision, and getting a different perspective from you will definitely help.
Secondly, you said it... *every* MBA is competitive... which is why I am saying do not put a LOT of emphasis on rankings.
Thirdly, I can tell you will make a good manager because you are not the kind who will make assumptions and/or judgements about people. You will research and back all your conclusions with data, conclusions like:
1. I didn't work hard
2. I didn't reach my goals
3. I am not looking for a job
Lastly, I encourage you to share your experience with my readers. Share what worked for you so the readers can learn from it and be a winner like you.
In a nutshell, you are stating that clarity on goals and clear understanding of how the school helps you realize that are the most important factors for school selection (over rankings and school reputation). Could not agree more with you on that.
Research, Research & Research is the only piece of advice I can offer to prospective MBA's(being a recent graduate myself). Specifically think about barriers to achieve your goals. These could be in terms of location, visa, internal competition etc.
Well, first off I disagree totally with the first comment. It is easier said than done. It is very easy to say that if you would have worked hard it would pay. There are external factors beyond your control. There are things which you can not change. For example, a BCG will not hire from say a #40 ranked school. Even if you work very hard, do whatever you can, you are not in their consideration set at all. Also, there is a heck of a difference between "achieving your goals" and getting a job. If you think both the things are same, I am sorry to say that you have a very myopic view.
Secondly, I couldn't agree about the importance of the school location. If you are not in a M7 school, location becomes a key. Particularly, if you want to be on the west coast and you are in a east cost school which is not a M7 or vice versa, it is a uphill task for you.
Bottomline, I think we all agree that research is the key, rankings don't matter much, and you can get a huge ROI even from a lower ranked school if it is aligned to your goals.
Thank you for the comments. Research is the key... totally agree with that.
I respectfully disagree. I got a summer internship and a full time job at different companies that do not recruit at my school's MBA program - both of which are prestigious companies. Nonetheless, research is important.
Yes that is of course possible. Even I had offers from companies that didn't come to the campus for recruitment. The point I was trying to send across was that there are factors beyond our control and not everything can be overcome by hard work or intelligence. I think my specific example would still hold true.
Really good arguments put forth by everyone. While on the topic, i wonder, if this conversation would have gained any traction had it not been for the economic conditions.
Anshul - Good to have you back posting. Could you share where you landed a job, w/o giving away any specifics. Cheers
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