MBA do it from a top school or an average school?

Question

Hi there,
I want to do an MBA and can't decide if I should go to a top school or an average school. I want to know if it's worth going to a top school. I am not rich so would have to get a loan in both the cases. The top school costs aout 60K and an average school is about 20K. I would gain a similar skillset while studying this program at any of the school but when it comes to getting a top notch position the employers will look at the "top school" grads as opposed to average school grads. Then it also depends on my ability to communicate and show my skillset regardless of which school I have graduated from. The advantage of working in a top school is that I get a chance to study and compete with big executives, whereas in an average school I will be competing with average people like me. If I work with people of higher calibre then I could learn more from them as compared to people of my level.So the question is, should I go for a top school or an average school?
Thanks everyone

Answer 1

Think of it this way. Let's say you have another 20 years left in your career. The top school would cost you $2,000/career year more than the average school, but would probably bring you something like $30,000 more in salary each year. It would be in your economic best interest to go to the top school.

Answer 2

An MBA from a top 15 school will get you multiple six figure offers ans allow you to switch fields easily.

An MBA from a ranked school outside the top 15 will give you a big boost in salary and be worth the cost.

An MBA from a school that is not ranked will do little more for you than a BS in Business. It won't improve your salary much and won't get you that great job. It isn't worth the cost of the tuition -- unless someone else is paying for it.

To get into a top school, you will need a 700+ GMAT score, a GPA in the 3.5 range (preferably from a good undergraduate school) and three to five years of work experience. You will also need to write great essays and interview well.

Answer 3

Yes; as the posters posted above. Top business programs are crazy competative; if by any slim chance that you have the grades and scores to get into a top school, you must do it.
There is a substantial difference in salary; lets take the elite Penn Wharton school; college graduates (not MBA) has a average starting salary of $97,000.
Your school reputation really pays, beside you will learn from the best at top schools.

Answer 4

There is a big difference. Graduates of top schools start out with an average salary in the $100,000 range... "Average" schools only earn graduates initial salaries of around $65,000.