Elite Schools - Worth it for professional programs?

[pea-jay]

Thought I would throw this out there as I have been ruminating on it for a while now.

Are the Big Name private schools really worth it, particular in the professional sector. I've seen the discussion for those looking for jobs in Academia, but this time I'm more focused on the MPA/MBA and other professional programs. Will the NYU's, Columbia's or Harvard's open more or better job opportunities to justify the extra $38K I will spend compared to the public school with a similar program? I'm very comfortable with the idea of $20K-30K in debt as I have practically none of any type, but when I get up to the mid 60s, it gives me pause.

Yet if that tuition opened doors not available at a Public U, it'd totally be worth it.

Thoughts?

[red_crayons]

In professional programs? My gut response is ABSOLUTELY. I'm generally opposed to debt, but for professional programs I would absolutely take the debt to get the name and the connections that go along with the name.

Being a professional, especially in business, you have to rely on getting the right info at the right time to move forward in your career. Knowing the right people is the only way to do that. Elite universities historically have more well-connected people, so getting to know them by going to schools where they still have ties will be worth the money.

I wouldn't even consider a non-name brand school for a professional degree if I had other offers. I'm going to start a very academic PhD at an Ivy in the fall. I'm not sure if I want to go into academia, so I'm keeping my professional options open, too. If I had had an offer from a state school with a similarly strong academic program AND an offer from this Ivy with name recognition in the DC area - the area where I'd probably end up if I left academia - I wouldn't even think twice about going to the Ivy.

That being said, your signature has CUNY-Baruch and NYU listed. I know little about b-school rankings, but Baruch (and really all the CUNY schools) are relatively name brand in the region. CUNY would probably get you farther in the tristate area than, say, University of Iowa (just picking a name at random...). Plus, going to school in the city will put you in touch with business culture more than most other places, so you'll have that advantage.

Also, look at alums. Maybe one school has ties to a certain company or industry that you'd like to work for, even though it may be otherwise unremarkable. That could change the balance between names.

To back up my argument, I should also mention that I am attending 3 b-school classes this semester for work. All the professors say the exact same thing: In academia, people look at your work, but in business, they look at your school and the person who referred your name to them.

[Diverchica]

I understand exactly what you mean. That's my main issue right now. I'm deciding between an academic program in the sciences vs a professional school that combines both science and policy. Almost everyone has told me to go for the professional, but I still feel like I need more feedback. I'm anxious to make the next move, because I want my investment to be well worth it!

Does the professional school have any information on jobs that their recent graduates obtained right out of school? That is what has tipped the odds in favor of me accepting the professional school offer. All of the grads I saw in the pdf they sent, had jobs exactly where I'd want to work, and were more versatile in the types of jobs they were eligible for. Some even went on to get their PhD in the sciences after graduating.

I was also told, that if I don't plan on continuing for my PhD after I graduate from an MS program, then I'll be competing for the same jobs (coastal managers, technicians, scientists) as those who will have graduated from the professional school, but I"ll me more married to a topic (which, if you're not IN LOVE with it, could be bad.. or in my case which is VERY location specific), not have the connections that the professional school has with employers and with its elite name, and less likely to get those jobs...

Hope this helps a bit, this is just my two cents, but I'm struggling too! You're not alone!

[ootg]

Thought I would throw this out there as I have been ruminating on it for a while now.

Are the Big Name private schools really worth it, particular in the professional sector. I've seen the discussion for those looking for jobs in Academia, but this time I'm more focused on the MPA/MBA and other professional programs. Will the NYU's, Columbia's or Harvard's open more or better job opportunities to justify the extra $38K I will spend compared to the public school with a similar program? I'm very comfortable with the idea of $20K-30K in debt as I have practically none of any type, but when I get up to the mid 60s, it gives me pause.

Yet if that tuition opened doors not available at a Public U, it'd totally be worth it.

Thoughts?

If you look at the MBA, then find out how strong the alumni are. The MBA is a networking opportunity, and the more alumni in important positions, the better your chance of getting one foot in the door into organizations you want to work for. Should have researched this better before I did my MBA...

[oldlady]

When I was going for my MBA, I was choosing between an Ivy and an excellent, but more regional, program. I chose the Ivy because I thought that in the long run, it would open more doors for me, in terms of both the brand name and the vast alumni network. This, in fact, has turned out to be true. I took out loans, but was able to pay them off easily with the bump in salary that the degree provided, and I have never regretted my choice.

Having said that, my husband went to a good regional school for his MBA, and he's not the worse for wear. He probably has had to work harder to get in the door, but once in, he makes a great impression. He also did not stay in the region, so there are fewer alumni who can help him where we are now. At the same time, the ranking of his alma mater has steadily increased since he graduated, so the value of his degree has also increased.

I think that high-ranking professional programs often do end up paying for themselves, but I don't know what the payback time period would be in your field. But in any field, you're only as good as your last piece of work, so if you choose a lower-ranked program, it will matter less once you're back in the workplace.

Good luck with your decision!

[fallmpp2010]

hi pea-jay,

i'm wrestling with the same questions right now. I understand the draw to a prestigious school when it comes to an MBA or JD. The debt will be justified by the salary you'll be making when you come out. When it comes to a MPP/MPA, that isn't the case. The median salary for SIPA graduates is not very encouraging considering you'll be paying a little less than a Columbia MBA. That being said, I do agree with fellow posters...people (especially in professional sectors) love brand names.

i am also uncertain whether i should be paying an extra $50K for a name...

i think the best thing to do in these situations is apply for as much funding as you can for the second year and hope for the best...