Part Time MBA (fully paid for) vs. Harvard/Stanford

Graduate School Business School - MBA
1

<p>So help me out guys. I need to know before i get a yes/no from harvard/stanford so i can tell my employer my intentions.</p>

<p>I've applied to part time (UC Berkley, UCLA, and USC) for part time, and Stanford, Harvard for full time. My employer will pay all costs associated with going to a part time MBA program with no contracts (ie work for x years to repay costs) what so ever. And i, obviously, get to keep my job and $. But i am on my own if i go to a full time program. </p>

<p>Assuming i get into all of them, is it worth going to the top biz schools and leaving my work? I earn $85k plus at my current job, with bonus and benefits it probably comes to $110k true employee compensation. My stats are provided below. Again, assuming i get in, given the salary i am getting, given my employer will pay for me to go to UCLA/UCB, is it worth quitting work?</p>

<p>I got 3.75 GPA in mechanical engineering from UT-Austin (honors)
I got 710 GMAT 5 AWA (i am an international student)
3 years of experience at the time of admission
grew up in Dubai, so hopefully that might add some sparkle to the admissions
speak 3 languages...</p>

<p>any advise/suggestions/comments appreciated...thanks</p>

2

<p>You should be able to quickly calculate your financial ROI in your spreadsheet (assuming zero discount rate). Off my head, part time programs will break even a LOT faster. However, also consider non-financial reasons. Full time programs will more likely help you to make a major career change. Going to part time may mean little spare time for anything else. Less offering at PT compared to FT, especially for HBS and GSB. </p>

<p>Quite frankly, with your stat, I won't bother trying to figure this out until I have the admission letter on hand. Good luck.</p>

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<p>Wait, you can do a part-time all expenses paid at Haas (Berkeley)?</p>

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<p>Yeah Haas has part time. Its called EWMBA (evening weekend mba).</p>

<p>dallas: so i guess its not the clear cut?</p>

<p>I don't want to waste too much time on it. I know if the offers don't come in then everything is self explanatory. But my employer wants to know by year end. Thats why i need to hypothesize. :-)</p>

5

<p>I also did not know Berkeley has a part time MBA. anyways...</p>

<p>I think your earnings are not that bad considering that the average Haas MBA grad would earn 130k/annum (all in) and the Stanford grad 140k/annum (also all in). </p>

<p>I'm not sure about quality and prestige of the UCLA and USC MBA, but Berkeley's MBA is a top brand. </p>

<p>Personlly, I would choose a Berkeley MB than either a Harvard or a Stanford MBA. But that's just me.</p>

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<p>What kind of work do you do now? Do you want to continue working for that company upon graduation?</p>

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<p>I am an engineer</p>

<p>well I dont want to leave my work cause they pay is so good.</p>

<p>But i wouldn't mind changing my job post MBA, cause i find the my current job underusing my abilities.</p>

<p>So i am really confused.
Love pay, love California, wouldn't mind quitting job
like the glamour of Harvard, not sure if the salary coming out of harvard would be able to top what i am getting now (plus opportunity cost, and salary gained over time at current work). The individuals earning the 130k - 150k dollars out of harvard/Stanford are your McKinsey people. and getting into those guys is cut throat comptetion. </p>

<p>Will i get in? I stand to lose my current job.</p>

<p>Its such a mess!!</p>

8

<p>
[quote]
"The individuals earning the 130k - 150k dollars out of harvard/Stanford are your McKinsey people. and getting into those guys is cut throat comptetion. "

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</p>

<p>The Median Salary for the Stanford Class of '07 was 115k (plus 20k signing bonus). Apparently they also averaged $40k of "other guaranteed compensation". So, 130k-150k certainly isn't a huge stretch.</p>

<p>As for McKinsey, they aren't the only consulting firm that hire top MBAs. There are several other who pay in the same general range as McKinsey (perhaps more..i've heard..not sure), and while these jobs are also highly coveted, it certainly isn't as difficult as just trying to get into McKinsey.</p>

<p>You say you make "good money" but my guess is that you can make far more. BTW, I'm not necessarily saying to go to Stanford/Harvard. If you can get your company to pay for your MBA from a good school without giving any commitment, that is a great deal. However, it seems that far too many stay with the same company after receiving a part-time MBA.</p>

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<p>
[quote]
I'm not sure about quality and prestige of the UCLA and USC MBA, but Berkeley's MBA is a top brand.

[/quote]
</p>

<p>Haas is certainly a top brand -- but there is very little difference between Anderson and Haas. Marshall is great as well, though probably not nearly as good.</p>

<p>
[quote]
Again, assuming i get in, given the salary i am getting, given my employer will pay for me to go to UCLA/UCB, is it worth quitting work?</p>

<p>Will i get in? I stand to lose my current job.

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</p>

<p>It still seems you're unclear about what you want to do post-MBA. The decision to go FT or PT is really pretty simple -- if you are absolutely positive you want to stay in California with your current employer for the long term, then go with the PT programs. If you would like to change careers (perhaps into consulting or IB) and want the widest geographic/industry options for employment, then go with HBS/Stanford.<br>
And by the way, it doesn't require a McKinsey offer to be banking ~$125k a year. First off, those numbers are base pay for consulting. Yearly bonuses will vary between 5-25% of base pay depending on the firm. Add in benefits and targeted raises each year -- plus jumps in base compensation and bonuses as you move up through the ranks... the earnings trajectory is much steeper than any engineering positions I know of. And that's not just McKinsey. Other strategy firms (especially Bain/BCG) are pretty similar while the Monitors, Marakons, Deloittes, etc. have a less steep but still higher earnings curve.
FWIW, your GPA is great and GMAT is pretty solid. You didn't mention anything about your essays or work/leadership experience but your competitors at Stanford and HBS will have similar (and likely better) stats and compelling stories. As it stands, I would say you're safer (and perhaps) likely to end up in a PT program. Good luck!</p>

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<p>LA_Raider, you will find top PT programs yield better ROI. Period. On top of that, you will find Hass MBA (FT or PT), like HBS and GSB, will open the same gate to many career options, including top MC firms (you still have to ace the case interviews!) Nonetheless, FT students (regardless which top schools) get significantly more recruiting opportunities. Those are great if you want to explore different career options (outside engineering) or into more elusive industries like PE. Also, summer internship (only comes as FT programs) is often the pre-req to land an IB offer. </p>

<p>I can't tell if you intend to stay in engineering or not other than that pay. So, make up your mind first. </p>

<p>As a side note, a friend of mine started in the PT MBA in one of your listed schools and then "transferred" into the full time program at another top b-school a year later. Uncommon but can be done.</p>

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<p>calicartel/dalllas, thanks for advice, they certainly do add insight.</p>

<p>my essays, recommendation would be somewhere between average and super. Not done anything truly spectacular like, start-up or darfur. But i have taken an active role in analysis of engineering projects. that might shine out. But again, nothing spectacular like a lot of people applying to SGSB/HBS have. My recommendations might highlight my analytic skills which i should say are well above average ...but again, not done any spectacular thing like start-up..</p>

<p>leadership... i am a project manager right now.. have been for 3 months now, involved managing multiple disciplines, contractors, etc etc... </p>

<p>Again, nothing spectacular, but nothing mundane either... </p>

<p>I have a leaning towards Consulting over IB.</p>

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<p>I also agree with the steeper earning curves. that is definitely true. I am 25 right now, i have a leaning towards going full-time, get into an excellent biz school, put 2-4 years with consulting, and then drop back and join large firm at high level. I know i can't handle that i-banking/Consultancy lifestyle when i am 32/34</p>

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<p>Ok i've decided. PT it is. Ideally its HAAS, if not, anderson marshall will suffice.</p>

<p>i keep getting my hefty pay check, employer pays costs, option for future interviews open, in the event a good offer does not come through (a McK or Bain), i remain in my position and beautiful SoCal, if it does, i go to consulting, something i like (with a bad guilt of taking advantage of my employer). </p>

<p>sound reasonable?</p>

14

<p>Well, some (of the “elderly”) guys here in the office have told me that Berkeley's MBA wasn't a top program before. That was probably during the 80's and 90's I guess. But today, as everyone here would agree, the Berkeley MBA is in the class of H/S/W. No one here has the real story how it happened though (but I would be interested to know if someone here knows the real story of Berkeley’s marvellous transformation). If you really have done your homework… you couldn’t really make anymore distinctions between Berkeley’s MBA and H/S/W MBA except that the later schools have huge student population.</p>

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<p>
[quote]
Ok i've decided. PT it is. Ideally its HAAS

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</p>

<p>Excellent choice!</p>

<p>We might see each other on campus if I get an offer too. Hehe...</p>

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<p>Good luck! ..apparently the interview offers at HAAS have started.</p>

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<p>
[quote]
But today, as everyone here would agree, the Berkeley MBA is in the class of H/S/W. No one here has the real story how it happened though (but I would be interested to know if someone here knows the real story of Berkeley’s marvellous transformation). If you really have done your homework… you couldn’t really make anymore distinctions between Berkeley’s MBA and H/S/W MBA except that the later schools have huge student population.

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<p>Yikes. That's a leap there. As has been mentioned before, Haas is a top school. If by "in the class of H/S/W" you mean that it's a top 10 school, then yes, most would agree. However, if you're trying to say that it is equivalent to H/S/W and is better than Sloan, Chicago GSB, Kellogg, Tuck, CBS -- or even Ross, Anderson, Darden, and Fuqua... I'd have to disagree.<br>
While I know how much you're in love with the Berkeley name, I'm still impressed with how you've convinced yourself that it is now "HBS/Stanford/Wharton/Haas"...</p>

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<p>i agree with: haas is probably not in the league of H/S/W ... i wouldn't be surprised if it falls in the league of Tuck, Kellogg, CBS etc. ... it certainly is comparable to Anderson..some would say Anderson is in a league below ...</p>

<p>Lets not turn this into a which one is better thread.. i dont want to go there...</p>

<p>I guess the thread was asking: "if your company was paying for HAAs part-time, all costs, with no bondage, would you choose that over H/S/W"</p>

<p>For me, HAAS isn't THAT bad compared to H/S/W where the answer is an overwhemling YES or NO. Thats why i started this thread. get multiple perspectives. Is it THAT good/bad?</p>

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<p>
[quote]
For me, HAAS isn't THAT bad compared to H/S/W where the answer is an overwhemling YES or NO. Thats why i started this thread. get multiple perspectives. Is it THAT good/bad?

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</p>

<p>Haas is great. It's a solid top-10 program and will take you pretty much anywhere you'd like to go.</p>

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<p>
[quote]
Good luck! ..apparently the interview offers at HAAS have started.

[/quote]

My application pack has just actually arrived, just a couple of days ago to be exact. Thanks for the well wishes... and good luck to you too. I’ll let you know if I get in. </p>

<p>
[quote]
However, if you're trying to say that it is equivalent to H/S/W and is better than Sloan, Chicago GSB, Kellogg, Tuck, CBS -- or even Ross, Anderson, Darden, and Fuqua... I'd have to disagree.

[/quote]

I did not say Haas is better than sloan, Chicago, Kellogg, Columbia, Ross and the like. I would never say such a thing. What I meant was that Haas is no longer the sick b-school amongst the best ones like it used to be in the 80s and 90s. Today, statistics would show us that Haas is considered a top b-school and can now be compared (in prestige, quality and standard) with the very best MBA schools you can find anywhere in the world including H/S/W. </p>

<p>Look. I don't believe there's really such a thing as the best b-school because best is relative to anyone's taste. For example, Wharton is an excellent b-school but it’s not my “cup of tea”, thus it does not make sense for me if I go there. However, I do believe that there's such a thing as a top MBA program, and obviously, the schools you mentioned are all top b-schools. Stanford is not really different from Columbia and Wharton just like Wharton is not any different from Harvard or Kellogg and Kellogg is not different from Chicago and Haas and Haas is not any different from Sloan, Yale, and Tuck and so on. </p>

<p>To say Harvard is the best is a relative judgement – that’s a personal opinion, more or less. HBS could be the best b-school for you but not entirely the best for some. Oftentimes, b-school aspirants look for niche (innovation of Haas, Entrepreneurship of Stanford, Marketing for Kellogg, Finance for Wharton, General Management for Harvard, etc), fit, location (I prefer the perfect weather of Norcal than the frosty East Coast), family orientation (dad went there, legacy, etc), cost and reputation based on his personal orientation. </p>

<p>
[quote]
if you're trying to say that it is equivalent to H/S/W and is better than Sloan, Chicago GSB, Kellogg, Tuck, CBS

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<p>And how is Wharton better than Sloan or Tuck, for example? Or, how is Stanford better than MIT-Sloan, Tuck or Chicago? </p>

<p>
[quote]
While I know how much you're in love with the Berkeley name, I'm still impressed with how you've convinced yourself that it is now "HBS/Stanford/Wharton/Haas"...

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</p>

<p>No, I’m not in love with Berkeley (that would make my gf jealous), but I thought it’s a great school it’s one of the top schools in the world. </p>

<p>As to your comment that I’ve convinced myself…, it was actually my colleagues who convinced me to apply to Haas. I’ve also done my part in establishing the fact the Haas is as good as any of the top b-schools in the planet.</p>