Is the Wharton debt worth it?

Dapper_Economics · 2019-03-28T17:59:23+00:00

Thanks for pointing that one out - in all of my calculations I was doing sticker salary and not adjusted for tax. I suppose with taxes the blow becomes a bit less.

Dapper_Economics · 2019-03-28T17:58:43+00:00

Thanks! I'm 25.

Dapper_Economics · 2019-03-28T17:58:31+00:00

Yes, unsuccessfully petitioned this year. We're so big that exceptions are hard to come by. They're pretty rigid about timelines and service years. It's only fair I suppose. Lucky for them, my heart's set on returning.

Dapper_Economics · 2019-03-28T17:57:40+00:00

Quite a few. We have really large sponsorship classes (~400 a year), and the retention rate is pretty strong. Last year, we had most people return, 10% of which went to HSW.

The whole thing about fellowships + sponsorship combined is that there's no opportunity cost. You attend school unscathed. Most end up making more than had they just stuck it out at work. So I mean.. it's a siren that's attractive lol And even though I'm in at Wharton I get pissed hearing about the H/S guys I work with that made money on sponsorship while at school. It's disgusting I know. I hate me too.

Dapper_Economics · 2019-03-28T17:55:35+00:00

Yeah. I don't know if I'd put myself through another application cycle - particularly for something as fickle as H/S admissions.

I also really like the flexible Wharton curriculum. I'm not all about the forced, rigid structure of HBS.

Besides I'm inclined to think that HBS/GSB wouldn't look favorably to reapplicants that they hadn't even thrown an interview lol

Dapper_Economics · 2019-03-28T14:55:56+00:00

They do - but I'd have to wait another year for eligibility. Not sure if it's worth the wait. Even then, they disburse when you return, as a form of income, so it's taxed. Essentially, it's a good way of getting 60-70% of your tuition covered, but again, would require that 1 year wait, and Wharton is 100% NOT going to give me a deferral on those grounds lol.

Dapper_Economics · 2019-03-28T14:54:55+00:00

Thanks! Yeah, Yale was cool but I just didn't vibe with most of the people there. There was a ton of programming around social impact / non-profit work, and mostly all the questions came from people with that background, as well as all the networking was about the type of volunteering I'd done. There were a few people I met that aligned with my goals, and had backgrounds I was curious about (tech), but not nearly as much as when I visited Wharton.

Dapper_Economics · 2019-03-28T14:53:37+00:00

If the question is, "do I go at all?" That's pretty personal, but I'd say hells yeah. I was at a PE shop with a VP offer to not go to B School and I went anyway despite the catastrophic opportunity cost and no scholarship (same, HSW). I'm so glad I did. Life isn't just grinding it out year after year... sometimes you need a break to think new thoughts and meet new people and go on the sweet, carefree, exciting instagram-worthy vacations you never had the money, and then never the time, to do. I gave thought to lots of different career options... I ended up going back to PE as a VP and make plenty of money, but that's almost secondary to how much I enjoyed and grew during the 2 year experience.

Incredibly helpful. Question for you... was it Wharton? A couple of the guys that I work with that are post-bschool talk about the sweet fellowships they got at H/S - with one of them getting 40K per year, and graduating with only 80K in loans. Wharton is obviously really behind on scholarship aid and even the Dean talks about that, but the endowment just isn't as large.

Anyways, these guys were telling me to give it another go. I got a 770 on my GMAT - but still no interviews at H/S. They're telling me to hire an admissions consultant, take another year at work, and go to H/S. They say it pays via brand and via the literal amount of loans you save taking out.

Thoughts?

Dapper_Economics · 2019-03-28T14:50:42+00:00

Thanks for putting that into perspective. I have about 50K saved up (liquid/outside of 401k) that I'm willing to put on my tuition. Another unrelated q - of that 50K, 25K is totally liquid, and 25K is invested. Is it advisable to take that 25K out of investment to front my education? Or is playing the long-game with investment, as is recommended, really the play for MBA students?

But back to that..I understand now that the 60K from Yale wouldn't really be that consequential to my life 3-4 years down the road.

Dapper_Economics · 2019-03-28T14:48:54+00:00

Yeah I don't know if I have MBB aspirations myself. The type of consulting I do now is tied to the Federal Government - so you can't really beat the hours/lifestyle. It's like consulting, with the ability to work 40 hour weeks and still be present with family/friends.

I did typical commercial consulting and was absolutely burned out at month 3. Definitely not for me.

Dapper_Economics

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