Hi all!
My daughter is planning on doing a double major in either marketing and entrepreneurship or marketing and management. We are deciding between three schools and wanted more insight in the job outlook, social life, and value of going to each school. Our financial aid packages are the following:
Babson: 77k
IU Kelley: 54k
Bentley: 48k and accepted into the women’s leadership program
Which school would be the most worth it?
Is that the cost after financial aid or the among the school has offered in financial aid?
If money is an issue, it’s hard to justify Babson - especially since Bentley is not much bigger and is just a couple of towns away in the same metro area with a lot of the same opportunities locally as a result.
If money is not an issue, it’s hard not to look at Babson first because it’s approach to business is unique and special, because it’s small and intimate like A LAC for business, and because of it’s excellent reputation. Babson also has the benefit of sharing course options and resources with a consortium that includes Wellesley & Olin College of Engineering in the same town.
This is the cost after all financial aid and scholarships.
Thanks for clarifying the $$.
Based upon the reputation of the schools, your out-of-pocket is logical to me.
If money is no object, Babson is a no-brainer. Love @Bill_Marsh saying liberal arts college for business because that is an excellent description.
I would select Kelley second because similarly priced to Bentley and IU is just stronger. If accounting, I might feel differently.
Socially, IU wins by a lot.
Jobs, all 3 are above average.
Network, Babson wins by a lot.
Can’t lose.
I once read an article and it showed the “superior” school but low cost options where you can do just as well.
It mentioned - UVA or go for much less to WVU.
It mentioned Babson - but got to a slightly less ranked school in Bentley - for less. This is a prime example.
$77K to $48K is a lot of change. And Bentley has a very good rep. So to me, that’s a no brainer. On top of that, she’s in a special program - although all schools seem to offer these now - I wonder if they are more gimmicky.
So to me, it’s Bentley over Babson - because that’s $116K in the bank. So now you have IU.
IU is obviously a full and complete university, with the greek life, sports, etc.
So what is the cost difference there? Does your daughter want midwest, large campus…or small focused.
That would then, assuming costs are similar, be the next question. Kelly is a solid school - all three in fact are. Kelly is not the “Harvard of Business” like IU people would have you believe - but all three are solid and she’ll end up fine wherever she goes.
Babson is great but not worth the premium. I’m always amazed that future business students can’t do an ROI calculation. This is the first important business decision they make-selecting a school for their undergrad degree. (MBAs, who are more experienced, understand this much better.) The 4 year difference is over 6 figures. That’s a lot of money that a savvy business student could really grow. We’re not talking Wharton difference here. No significant advantage from these 3 schools. I’d choose between IU and Bentley depending on personal preference.
Generally agree with your assessment on ROI, but not sure if you are aware that the ROI of a Babson education may be the highest of the three schools. In fact, a few years back Money Magazine had it as one of the best ROI’s in the nation.
It is because they a business students not econ students. It is a utility maximization problem not a ROI problem.
If we’re talking ROI, it’s Babson. The problem is - as always - that you have to have the money to invest up front to reap the benefits and returns.
Those calculations are meaningless for any particular student and does not take into account numerous factors, including the alternatives under consideration.
Meaningless is a bit much, but I understand that averages are just averages. For business, however, some would argue that ROI has significant meaning.
When you look at those with the best ROI, you see UCONN Waterbury, UCONN Stamford, Capella U ahead of very fine schools. My daughter is looking at C of Charleston, lower then Embry RIddle - but they place engineers. So you have to take these for what they are - not wrong, but not personalized.
You know, anyone choose Drexel over UVA?? Or Bryant over Emory.
In the end, a good solid thing that will steer you in the rigth direction is:
Finances first - it’s not even if you can afford - but do you want to afford the difference.
Then fit - no one is mentioning IU but you did - have you been to both? Did your child feel a better connection with one? Do they want a focused school or main university where if they don’t like business, they can change, to say, Russian or Journalism, etc.
The cost per year or for the degree ?
Assuming that the COA per year is $77,000 at Babson, $54,000 at IU-Kelley, & $48,000 at Bentley, I would strongly consider IU if she is a direct admit to Kelley.
Then all data is meaningless. It’s simply additional information to make a more informed decision.
What’s most striking about the pay scale information in contrast to those who say to take the cheapest option is the difference in earnings over a 10 or 20 year period. The difference in tuition is swallowed up by this earnings difference over the long haul.
I wouldn’t say meaningless. Both Bentley and Babson rate very high. US News doesn’t rank Babson. Bentley, it’s considered regional…and it is.
Some of the school on there are engineering schools…so makes sense. An engineering degree from Missouri Science & Tech will outweigh a Harvard English degree.
Some that stand out - like William & Mary - likely heavy on the social sciences, etc.
It’s definitely interesting and it goes to show you - there’s many no names on there so pedigree or rank are not everything.
Thanks for sharing.
Back to this student - I wonder why IU is in the mix. If the student seeks traditional, I get it - but then I’d ask the same about Bentley/Babson being in the mix.
For many, up front out of pocket are very important - if you’re a risk taker, maybe Babson works. But I tend to think both will work out similarly.
You miss my point. ROI is going to be specific to the student. The average is meaningless to the individual student and won’t capture the student’s options. There is also a lot of noise in the average numbers that need to be factored out. Relying on the pay scale numbers is lazy and will result in many irrational financial decisions.
US News, at least did at 1x, rate Babson as a business specialty schools (lame and they are #1). Bentley was also in that category as well, but moved out into the regionals. Babson is also rated in UG business and #1 of all schools for entrepreneurial studies - for 20+ consecutive years.
I got that point. Why would you think I missed it?
I agree that it is lazy to rely on the pay scale numbers and that there is a lot of noise that needs to be filtered out. It is equally lazy to rely on USNWR report or any other rankings. It is equally lazy to rely on “reputation”.
I was responding to a post on ROI. These lists are at least based on ROI data and therefore offer a different perspective and present some colleges for consideration that don’t show up on most other lists. As I said these lists just provide additional information to make a more informed decision.