Funding vs. Fit

[anonaccount]

Ok, so I have several acceptances with full funding (the norm for chemistry). Several are offering me enhanced packages up to $30,000. However, my favorite school is only offering $20,000. I do not think $20,000 would be miserable to live on (cost of living in that area is ranked 97 where 100 is the national average), but... $30,000 is a lot of money (those areas also hover around the national average) with no teaching responsibilities. Am I crazy if I forgo $10,000 a year for a better fit?

[pelevinfan]

Have you tried bargaining with your top choice? I've heard that it is fairly common practice for PhD programs. Let them know that they're your top pick, but that their funding package isn't quite what you had hoped. Tell them the truth - other schools have given you better offers, and you would really hate to turn them down due to money.

Just my $.02.

[greencurtain]

If by better fit you mean that the program will lead to more happiness in the long-term - (you'll be ready to study exactly what you want and the other programs will not provide the same jumping-off point), then yes, I'd say you are crazy to turn it down because of 50,000 dollars (or $20,000 if masters).

If by better fit you mean that both positions will lead to the same future point and that the lower- paying university would just be nicer to work at for the next 5 years, then you aren't crazy. The difference in short-term happiness may not be worth 50,000.

Furthermore, depending on the TA-ship responsibilities (or other contigencies of the the funding), the issue of stress and time you spend not doing research can widen or narrow the gap. How much would you pay to be able to focus on your research and finish w/in 5 years with published papers?

Your favorite school is paying 20,000. Some other school is paying 30,000 a year. Is that other school your second choice, or is your second choice paying something more along the lines of 25,000? That would be a difference of $25,000 dollars, which seems very bearable.

Other things to consider. You'll always have the opportunity to apply for fellowships and make up the difference in money. Are there differences in income tax between the states? If the top choice state doesn't tax and the other state does, the difference in funding will be smaller than it seems. What about student fees? I'm at a university where fees cost nearly 2000/ year, and we have to pay them out of pocket.

Edited March 9, 2012 by greencurtain

[Stately Plump]

Since you are talking about that much money, i.e., enough money to live on either way, I would go with the program that has better fit.

For me, I'm probably going to be following the money, but that is because the difference is so stark. One school just doesn't have the money to fund my research, while the other does. For you--while it is $10,000 per year--it really doesn't mean much in terms of livability. If one school was offering you 20 and another 10, then I would definitely take the 20.

On the other hand, you should also consider the teaching responsibilities. Teaching takes lots of time and effort, and that's time and effort that ultimately takes away from your own work. So, and this is the other thing I am considering, the school where I have to teach less is very likely the school that I will be able to put more time and effort in to my own work.

(N.B.-- I want to teach and am excited about teaching, but I'm also aware that success as a graduate student depends largely upon the work you put into your own studies. In my situation, I'll have plenty of time for teaching. Just something to consider.)

[user_name]

right now i'm trying to decide between best fit and little funding and decent fit with better, potentially full, funding. waitlisted at a not-so-good fit and guaranteed full funding. how worth it is debt?

[rising_star]

It's not all about the money. It's about who you are going to be working with. Go with the better (note that better means a lot of different things) advisor.

[BreeAnne]

Ok, so I have several acceptances with full funding (the norm for chemistry). Several are offering me enhanced packages up to $30,000. However, my favorite school is only offering $20,000. I do not think $20,000 would be miserable to live on (cost of living in that area is ranked 97 where 100 is the national average), but... $30,000 is a lot of money (those areas also hover around the national average) with no teaching responsibilities. Am I crazy if I forgo $10,000 a year for a better fit?

I'm in the same boat! The better fit for me is only offering 24.5k (UW-Madison) while the other school is offering 33k (Sloan-Kettering) >_<. I don't want to be broke but I also want to be happy . . . I'm still fighting with the decision!!! (Even though 33k doesn't go far in NYC, housing is subsidized, insurance is free along with a few other perks. . . that's not necessarily the case @ UW).

I hope you end up coming to the right decision . . . sadly "right" is very subjective and not always clear =(.

[abc123xtc]

I would go with whatever will be best for you long term...

[NeuroGal]

Fit, fit, fit, fit! If you are miserable the chances of you failing increase. You want to be successful in graduate school because that will enable you to build a successful career. The more successful your career, the more money you will make to pay off your loans.

[anonaccount]

Thanks guys! I didn't know I could "bargain." How would you phrase a letter addressing this? My top choice is the $20,000 but I have three other schools that I'm not as excited about offering $25,000 (Baylor), $30,000 & no teaching (UNO), Bama $22,000 (nominated for more funding up to $30,000, no decision yet). All of the schools have multiple research groups I could join.

I'll also be talking with my undergrad adviser about this soon. I come from a very poor family, so that much money is hard to say no to.

[NeuroGal]

You also should consider the cost of living for the schools that you are applying to. 20k may be better than 30k depending on the city.

[juilletmercredi]

BreeAnne, I live in NYC now and I'd wager that $24,500 would go further in Madison than $33,000 goes here, especially once you factor in income taxes. If Madison is the better fit, then go with Madison.

AS for the OP, I have to agree - fit, fit, fit. The PhD is only 5-7 years long - in the grand scheme of things, it is worth it to forgo that extra income for a better experience, better publications and a better position from which to springboard into your career. Especially since your goal during the PhD years is just to live, not to live lavishly or save tons.

[brussels guy]

What does your heart tell you? I think it tells you your favorite school. You can get more funding after going there.

[anonaccount]

Cost of living for all of the locations are very, very similar (with the exception of Baylor being much lower, so $25,000 is like getting almost $30,000).

[anonaccount]

I'm in the same boat! The better fit for me is only offering 24.5k (UW-Madison) while the other school is offering 33k (Sloan-Kettering) >_<. I don't want to be broke but I also want to be happy . . . I'm still fighting with the decision!!! (Even though 33k doesn't go far in NYC, housing is subsidized, insurance is free along with a few other perks. . . that's not necessarily the case @ UW).

I hope you end up coming to the right decision . . . sadly "right" is very subjective and not always clear =(.

Good luck to you, too! So I talked to my adviser, and he actually said that I can write an email to someone I talked to a lot during the visit or to the grad recruiter saying something like "I would love to work with Dr. [whoever], and I really liked your school, but I have several offers on the table, and may have to go elsewhere because of financial considerations. I will try to give you guys a decision as soon as possible; I am visiting one more school in two weeks and should be able to make a decision very soon after." etc. My adviser actually brought this up and encouraged it. So maybe you can do the same thing!