Penn 2011

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mrmangs
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Re: Penn 2011

Postby mrmangs » Thu Dec 16, 2010 6:21 pm

r6_philly wrote:
pulandasu wrote:
edit - *i'm assuming r6_philly, you've read my response ^.^; too scared it was TMI.


It's cool I read it. I may stick to taking some Wharton classes. Maybe do the certificate.


Yeah Philly, don't waste money on an MBA.

r6_philly
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Re: Penn 2011

Postby r6_philly » Thu Dec 16, 2010 6:23 pm

mrmangs wrote:
r6_philly wrote:
pulandasu wrote:
edit - *i'm assuming r6_philly, you've read my response ^.^; too scared it was TMI.


It's cool I read it. I may stick to taking some Wharton classes. Maybe do the certificate.


Yeah Philly, don't waste money on an MBA.


I don't know about the MBA, but the Wharton name is well worth a large sum of money around these parts. I was going to do a post-bac marketing cert, but then I found out non of those courses can be applied toward my degree or any other degree so I didn't.

I would most definitely want to work the Wharton name onto my resume/bio if I get the JD from Penn.

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hellojd
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Re: Penn 2011

Postby hellojd » Fri Dec 17, 2010 1:08 am

mrmangs wrote:
r6_philly wrote:
pulandasu wrote:
edit - *i'm assuming r6_philly, you've read my response ^.^; too scared it was TMI.


It's cool I read it. I may stick to taking some Wharton classes. Maybe do the certificate.


Yeah Philly, don't waste money on an MBA.


Aaaaand that is the first time in history someone has called a Wharton MBA a waste of money lol.

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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 1:15 am

hellojd wrote:
Aaaaand that is the first time in history someone has called a Wharton MBA a waste of money lol.


I sort of agree if you paid sticker and no one picked up the tab. Not that Wharton is not worth it, you should have a job that would pay for it.

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hellojd
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Re: Penn 2011

Postby hellojd » Fri Dec 17, 2010 1:26 am

r6_philly wrote:
hellojd wrote:
Aaaaand that is the first time in history someone has called a Wharton MBA a waste of money lol.


I sort of agree if you paid sticker and no one picked up the tab. Not that Wharton is not worth it, you should have a job that would pay for it.


Even sticker at Wharton is only $120k or so, and it's considered a top 3 business school - assuming you work/network while you're there, and the economy isn't 2008-style, you'll be fine paying that off.

Agree to disagree I guess, but I have a business background - if you're a Wharton grad, you're typically very set.

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hellojd
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Re: Penn 2011

Postby hellojd » Fri Dec 17, 2010 1:41 am

hellojd wrote:
r6_philly wrote:
hellojd wrote:
Aaaaand that is the first time in history someone has called a Wharton MBA a waste of money lol.


I sort of agree if you paid sticker and no one picked up the tab. Not that Wharton is not worth it, you should have a job that would pay for it.


Even sticker at Wharton is only $120k or so, and it's considered a top 3 business school - assuming you work/network while you're there, and the economy isn't 2008-style, you'll be fine paying that off.

Agree to disagree I guess, but I have a business background - if you're a Wharton grad, you're typically very set.


By the way, you'd have to be pretty poor performing to not get an internship in the summer between that pays $15-20k (assuming you're going down the path of making big money). Not to mention, if you have work experience you should be coming in with some pocket money, all of which combined should drop you well into 5 figure debt. Combine that with a reasonable signing bonus, and you're in a pretty reasonable position when you finally start working.

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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 1:47 am

hellojd wrote:
r6_philly wrote:
hellojd wrote:
Aaaaand that is the first time in history someone has called a Wharton MBA a waste of money lol.


I sort of agree if you paid sticker and no one picked up the tab. Not that Wharton is not worth it, you should have a job that would pay for it.


Even sticker at Wharton is only $120k or so, and it's considered a top 3 business school - assuming you work/network while you're there, and the economy isn't 2008-style, you'll be fine paying that off.

Agree to disagree I guess, but I have a business background - if you're a Wharton grad, you're typically very set.


What I mean is, if you are not working, you have to count the lost income. If you are working, you are losing out if you don't get reimbursement. So while the degree is worth it, you really is "wasting" your money because you shouldn't be paying for it.

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hellojd
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Re: Penn 2011

Postby hellojd » Fri Dec 17, 2010 2:00 am

r6_philly wrote:
hellojd wrote:
r6_philly wrote:
hellojd wrote:
Aaaaand that is the first time in history someone has called a Wharton MBA a waste of money lol.


I sort of agree if you paid sticker and no one picked up the tab. Not that Wharton is not worth it, you should have a job that would pay for it.


Even sticker at Wharton is only $120k or so, and it's considered a top 3 business school - assuming you work/network while you're there, and the economy isn't 2008-style, you'll be fine paying that off.

Agree to disagree I guess, but I have a business background - if you're a Wharton grad, you're typically very set.


What I mean is, if you are not working, you have to count the lost income. If you are working, you are losing out if you don't get reimbursement. So while the degree is worth it, you really is "wasting" your money because you shouldn't be paying for it.


Still doesn't hold. I was a consulting analyst, so I'll speak from that perspective, but I'm sure similar is true for IB analysts, etc.

Third year analysts at my firm (a Vault 5) would make around $80k before going to b-school. After bschool, pay was about $120-125k with a $20k signing bonus (and I was not M/B/B, you get paid more in those three as an associate). You lose around $160k in raw income, true, but 1) You jump to a much higher income level and 2) In a lot of the top firms, you can't proceed up too high in most cases without an MBA anyways.

You are right though, that someone on a "non-traditional" route, perhaps doing corp finance, or supply chain work, etc. may have more to lose and less to gain however.

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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 2:13 am

hellojd wrote:
Still doesn't hold. I was a consulting analyst, so I'll speak from that perspective, but I'm sure similar is true for IB analysts, etc.

Third year analysts at my firm (a Vault 5) would make around $80k before going to b-school. After bschool, pay was about $120-125k with a $20k signing bonus (and I was not M/B/B, you get paid more in those three as an associate). You lose around $160k in raw income, true, but 1) You jump to a much higher income level and 2) In a lot of the top firms, you can't proceed up too high in most cases without an MBA anyways.

You are right though, that someone on a "non-traditional" route, perhaps doing corp finance, or supply chain work, etc. may have more to lose and less to gain however.


I thought you get paid as analysts. Man I should stick to what I do (software dev.). :lol: I guess it makes sense from your perspective. People with my background can pull 100-120 with 5 years of good WE and be top in the field. So when I think about MBA the opportunity cost is higher. I do agree you need an elite MBA to crack the management layer.

I am not seriously considering an MBA because I fully intend to run my own firm so the name and networking is much more important the full degree. I guess I will stick to taking classes there.

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jd2014!
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Re: Penn 2011

Postby jd2014! » Fri Dec 17, 2010 10:06 am

Woah. Good morning folks! I think we need to get some decisions soon. The Penn admissions thread has become a debate about the value of an MBA :) . I'm starting to agree with you philly, I don't think we are going to hear a peep until Monday. Hoping otherwise!

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hellojd
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Re: Penn 2011

Postby hellojd » Fri Dec 17, 2010 10:12 am

jd2014! wrote:Woah. Good morning folks! I think we need to get some decisions soon. The Penn admissions thread has become a debate about the value of an MBA :) . I'm starting to agree with you philly, I don't think we are going to hear a peep until Monday. Hoping otherwise!


Yup, today would be a nice surprise. The countdown to the auspicious lunch hour begins anew...

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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 10:40 am

I think they cut out early because of the snow. It was horrible getting home. Maybe today?

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hokie11
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Re: Penn 2011

Postby hokie11 » Fri Dec 17, 2010 12:16 pm

Hi! I hardly ever post, but I'd thought I'd let you all know they've starting calling RD admits! Good Luck!
Last edited by hokie11 on Fri Dec 17, 2010 12:17 pm, edited 1 time in total.

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er doctor
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Re: Penn 2011

Postby er doctor » Fri Dec 17, 2010 12:16 pm

U Penn is making phone calls this morning....in!

r6_philly
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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 12:17 pm

Congrats yall!

czelede
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Re: Penn 2011

Postby czelede » Fri Dec 17, 2010 12:18 pm

Just got the call!!! I'm in!!!!!!! Penn is my first choice so I am so, so relieved!

3.3/177 splitter (was ED and changed my app to RD)

eaa1537
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Re: Penn 2011

Postby eaa1537 » Fri Dec 17, 2010 12:20 pm

congrats!!!! when was your last UCR update if you guys don't mind sharing???

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Henchman21
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Re: Penn 2011

Postby Henchman21 » Fri Dec 17, 2010 12:21 pm

r6_philly wrote:That's a around about way of saying "we will take your highest score unless something is screwy"


Tagged

Also wanted to tell philly my wife has been looking over my shoulder the past few days and she keeps mentioning how cute your son is.

czelede
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Re: Penn 2011

Postby czelede » Fri Dec 17, 2010 12:21 pm

11/4 was mine...I submitted 10/30 (but again, was ED). I called to change my app to RD on November 15th - it didn't update. The lady was so nice, I just kept saying OMG THANK YOU...she laughed, haha.

r6_philly
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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 12:22 pm

Henchman21 wrote:
r6_philly wrote:That's a around about way of saying "we will take your highest score unless something is screwy"


Tagged

Also wanted to tell philly my wife has been looking over my shoulder the past few days and she keeps mentioning how cute your son is.


Thank you :mrgreen:

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er doctor
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Re: Penn 2011

Postby er doctor » Fri Dec 17, 2010 12:22 pm

eaa1537 wrote:congrats!!!! when was your last UCR update if you guys don't mind sharing???


The only update I ever received was "Under Committee Review 12/3/10"

r6_philly
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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 12:23 pm

czelede wrote:11/4 was mine...I submitted 10/30 (but again, was ED). I called to change my app to RD on November 15th - it didn't update. The lady was so nice, I just kept saying OMG THANK YOU...she laughed, haha.


congrats! So your move worked out well for you!

czelede
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Re: Penn 2011

Postby czelede » Fri Dec 17, 2010 12:24 pm

r6_philly wrote:
czelede wrote:11/4 was mine...I submitted 10/30 (but again, was ED). I called to change my app to RD on November 15th - it didn't update. The lady was so nice, I just kept saying OMG THANK YOU...she laughed, haha.


congrats! So your move worked out well for you!


Thanks! I guess this will serve as anecdotal evidence for people that go from ED to RD...I'm so stunned, I was 100% expecting a WL (didn't write Why Penn/5 year plan) and was morosely lamenting my decision.

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hokie11
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Re: Penn 2011

Postby hokie11 » Fri Dec 17, 2010 12:25 pm

eaa1537 wrote:congrats!!!! when was your last UCR update if you guys don't mind sharing???


Thank you! My last one was 12/09.

r6_philly
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Re: Penn 2011

Postby r6_philly » Fri Dec 17, 2010 12:26 pm

czelede wrote:
r6_philly wrote:
czelede wrote:11/4 was mine...I submitted 10/30 (but again, was ED). I called to change my app to RD on November 15th - it didn't update. The lady was so nice, I just kept saying OMG THANK YOU...she laughed, haha.


congrats! So your move worked out well for you!


Thanks! I guess this will serve as anecdotal evidence for people that go from ED to RD...I'm so stunned, I was 100% expecting a WL (didn't write Why Penn/5 year plan) and was morosely lamenting my decision.


Ha they took quite a few low LSAT EDs so you are there to balance it out, and still eligible for some negotiations. Good call!




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