Hello, for a student deciding between Harvard College and the Morehead Cain Scholarship (a full ride to UNC) there are obviously a lot of things to consider. I was curious if someone could speak to the differences in undergraduate programs and alumni connections. In addition, is a student significantly more likely to be accepted into Harvard, Penn, Stanford, etc. business school if they go to Harvard? Could someone speak to the differences in elite business school acceptance rates between the two?
Harvard is obviously better in terms of the resources and connections, but will going to Harvard pose a significant financial burden on ur family?
Harvard has a clear edge in terms of undergraduate programs and alumni connections, but (anecdotally from my friends), M-C scholars generally have very good business school outcomes (I know one who was directly admitted out of undergrad to Stanford GSB for his MBA), and tend to bag prestigious grad scholarships (Rhodes, Mitchell, Gates Cambridge, Scharzman, etc.). Obviously, part of it has to do with M-C scholars being smart to begin with… Look at the difference in cost – if it is significant, go to UNC.
Edit: the UNC business alumni network is much better than Harvard in the South, if you have plans of moving to Atlanta, Raleigh, Charlotte, etc. after graduation.
The valedictorian of my high school class 35 years ago had the same choices. He picked UNC, and then went to Stanford for a PHD in Chemistry. I imagine it would be the same type of grad schools for an MBA.
No you aren’t likely to get in to a top MBA program just because you graduated from Harvard undergrad. Admission to those programs depends heavily on your increasingly responsible work experience during college and after college graduation your GPA, your letters of recommendation from college professors, work colleagues and supervisors, your own essays, and your GMAT/GRE score if the MBA program asks for those scores. People get into top MBA programs every year who have graduated from colleges much lower down in the rankings because those people have done interesting things in their careers.
It really truly is OK to follow the money for your undergrad degree if the Famous-Name isn’t workable.
If OP’s interest is in elite business then Harvard name brand would be worth a lot of money, probably far more than the difference between of the cost of two schools. In fact, lots of Harvard College grads would be so successful in business with bachelor’s degree that going for an MBA would seem a waste.
Of course, we have all heard people like Gates and Zuckerberg even drop out of Harvard because their business was so successful, but few realize every year there are dozens or so Harvard kids get funded millions of dollars to run their own startups. Very few colleges outside those several elite schools would offer such business opportunities to 19-20yr olds. Do kids from other schools get them? probably, but not at such high rate by a large margin. When these Harvard kids get millions of dollars in startup funding, some just based on nothing more than an idea, you have to believe its about its brand. Is it worth paying $300k (assuming your family income is $300k+/yr) for a brand (for a lifetime) that will give you a better shot at getting $3m in business opportunities? I don’t know. But studies have shown that for kids like Jared Kushner going to Harvard would probably be the same as UNC, because this family connections will be there no matter what. But for someone without elite connections the value of Harvard in business will be well worth the price difference.
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