Ultra - what is the deposit amount for Darden and other schools? Does it vary by student?

thanks, you are a wealth of knowledge, I have learnt so much just by reading your thread, I do hope you still stick around (i don't see any reason for u to though:)) after you start school may be update your blog on how things go in your first year, It would be informative.

The deposit varies with the school, along with the amount of time they give you to make a decision. The time is anywhere from 5 weeks (UCI) to four months (UCLA). Although I've heard that you can extend your decision deadline by calling in and asking for more time. I'd just give them the classic line: "If you want an answer now, the answer is no."

UW- $650
Texas- Can't remember, $1500?
UCLA- $1500
UCI- $1000
USC- $1500
Darden- $2000

I do plan to stick around and share any insight that I may have after getting close to completing the application process. Right now I am in contact with all of the schools' Financial Aid departments to try to get estimations of how much need-based scholarships may be available for me. I told them that money will be an issue and I have multiple offers, so if there's any more money they'd like to give away, now would be a good time to tell me. So far no responses from my emails but I will follow up calls next week. I'm not sure that playing schools against each other is a recommended strategy, but I don't think that any school would retract an admission's offer because of someone not wanting to pay full price, so the worst thing that could happen is they tell me "No."

Hey Ultra -
Could you please post any updates?

Hey guys. Not too much news here. I'm in a very slow part of the admission's process. But progress has been made and the decision is down to UCLA and USC still.

I sent in my official declines and "I hope that we can still be friends" emails to UW, Texas, UCI, and Darden. It's a little unnerving sending in declines when I'm not officially enrolled anywhere at the moment. But I can see no reason why anything would change with the last two schools, as long as I meet the deposit deadline.

As for my luck in getting schools to increase their aid to me: not much luck. Only UT-Austin said that they could maybe find an extra 5-10K, after I enroll. UW, Darden, and UCI couldn't increase their current offer. UCLA did come up with a possible 10-30K in need-based scholarships and USC is still calculating that number for me. It seems like the financial aid departments are all on permanent vacation right now. Phone calls or emails are not returned. I had to keep calling a few times a week until I reached somebody in person and then work to keep them on the phone for more information. So, better luck to everyone else when you deal with the this office.

So, as soon as I get "final offers" from UCLA and USC from a slow office, I can make the decision. Fortunately, there is no rush, as I have until the middle of April to give them an answer.

I awoke to a call from Booth...I'm accepted from off the waitlist! I had almost forgot that the next decision day was tomorrow so I wasn't expecting a call. It feels great to have another option!

I had decided on UCLA over USC after getting all of the financial aid info (at last!) and found that the cost of attendance would be about $105K total for both schools, merit and need scholarships considered. Booth would cost significantly more at $165K. But the brand of Booth may be worth it in the long run.

So now I think I need to complete the toughest task of refining my post-MBA goals and choose the best school for the job, not considering the size of the student loan payments, which will be considerable at either school.

I started the application process set on entrepreneurship and startups, but now am thinking that I would enjoy working in finance to get into VC, so that I could be intimately involved with several startups at a time. And Booth is certainly a "business force" when it comes to finance.

But because I want to live and work in California, UCLA may be a better resource for me, even though it has somewhat of a less finance brand.

I don't know. I didn't think I'd have to make this decision. I'll take any thoughts and advice to heart!

Thanks!

ultraeasy wrote:I awoke to a call from Booth...I'm accepted from off the waitlist! I had almost forgot that the next decision day was tomorrow so I wasn't expecting a call. It feels great to have another option!

I had decided on UCLA over USC after getting all of the financial aid info (at last!) and found that the cost of attendance would be about $105K total for both schools, merit and need scholarships considered. Booth would cost significantly more at $165K. But the brand of Booth may be worth it in the long run.

So now I think I need to complete the toughest task of refining my post-MBA goals and choose the best school for the job, not considering the size of the student loan payments, which will be considerable at either school.

I started the application process set on entrepreneurship and startups, but now am thinking that I would enjoy working in finance to get into VC, so that I could be intimately involved with several startups at a time. And Booth is certainly a "business force" when it comes to finance.

But because I want to live and work in California, UCLA may be a better resource for me, even though it has somewhat of a less finance brand.

I don't know. I didn't think I'd have to make this decision. I'll take any thoughts and advice to heart!

Thanks!

Congrats on the Booth admit. That had to be a pretty cool call to wake up to!

I feel like Booth may be the better option for you if you want to go the finance route to VC. I don't know a lot about the recruiting statistics for Booth with California companies, but in general it has a superior finance program. Even if the companies you want to work for aren't on campus, I am sure that alums can be helpful. Along with that, I think the brand recognition of Booth will suffice for finding a job in California.

Thanks for the advice, dmateer25. I am closer to making a decision now with a whole new set of criteria. I've tried to step out of my personal bias, mainly financial, and make the best choice for the long term. My original thought was to attend the school of the best value, fit, and location. But now I am simply thinking of how these 20 short months are going to affect my career for the next 20, 30 plus years.

I made some phone calls to alum from both schools working in consulting and i-banking. They were very helpful in describing the day-to-day of the job, and brutally honest with the cons: very long hours (more so for the bankers). They also encouraged me to not let finances make my decision. Right now a $60K price tag difference if huge, but I'm biased because my income has never allowed that kind of cash to come or go quickly. One consultant said that it will be the best $165K that I could ever spend and just three years out of school, with a greatly increased income, I'd feel silly for considering cash to make a decision. So I really need to make a decision on my post-MBA projection of myself.

As for location, I have lots of family in Chicago and have already lived there and know I'd enjoy it. LA's reputation speaks for itself with the sun and "cool" factor. It would be awesome. While UCLA places more grads in the West, it turns out that Chicago has quite a network here, too. So really either location would work for landing a job in the West.

Today, I'm leaning towards Chicago for their super flexible program and great brand. But I will complete my due diligence and attend the admit weekends for both schools this month before making the final call. UCLA's is on April 10-11, Chicago's April 24-25. I figure that this will be a great time to learn more about the schools and get to know my future classmates while no one knows each other so we'll all be in "meet and greet" mode. It doesn't hurt to start class with friends already made!

Congrats Ultraeasy!

60K may seem like a big difference now, but once you're out of school it'll be inconsequential. So my advice would be to go to the school that works best with you and your future career goals. =)

Good Luck.

Ultraeasy... have you made your decision?

Hey guys. I have a lot to share! The past few weeks brought two awesome admit weekends and some important phone calls that led to me making my final school decision a few days ago!

First thing that I learned: admit weekends are great! Absolutely attend these if you are able when they occur. It's basically the school showing you a good time and introducing you to one hundred plus first and second year students as well as at least that many admits. You really can gauge your fit in this environment because you are meeting the actual people who would be your classmates/lifelong business partners. But it isn't the best time to get to know a "real" day of MBA life because classes aren't in session and the people who are there are volunteering their time and are motivated to put on a good show for you. You can attend a class session on a normal day to get a more authentic feel for class fit later. But take the attention (and beer) at the admit weekend when you can get it!

UCLA: A highly organized two days orchestrated by your name tag, which, besides your name, posted your current city and undergrad institution, along with various codes that placed you in pre-determined groups for the weekend's activities. It was highly social. Anyone with a name tag was fair game to approach with an easy opener of "Seattle (or wherever), huh? I know that city..." We were shuttled from one presentation to another, to a small group ice-breaker, to a break session with snacks and drinks, to a mock classroom session, to a beer and wine mixer complete with an In-and-Out Burger truck, to a bar in Westwood (that kept about 99% attendance from people from the day). The whole day was designed for us to interact with as many different people as possible, admits, current students, and alum. After hanging with 100 new friends all day (and drinking at least that many beers), it was difficult to leave when the bar closed. I did not attend the breakfast the following morning. The next day was more of the same ending with a fancy lunch and some good speakers. I found my fit to be outstanding here and the campus was incredibly nice-looking. Throw that on top of easy access to surfing and flip-flops and you have a pretty nice two years ahead!

BOOTH: It was the same idea with name tags and promoting interaction with as many different people as possible, except that they broke us into 12-person "squadrons" and we completed many of the activities together as a team. We had a really fun ice-breaker event where we had to design, mass-produce, and create a sales pitch for a paper airplane with our team. We had 7 minutes until the first group presented. Fast! They threw us a curve ball by, with two minutes remaining, making a third of our team switch to another group, and others join our group. There was no time to shoot down ideas, just go with whatever we had and improvise a sales pitch. It was fun! We had a good lunch and presentations from Rose Martinelli and Dean Snyder in one of U of C's really cool old theaters. This is where they really gave us an idea of what Booth really stands for. The day ended with a LPF (LPF stands for weekly free beer and wine) event where the student clubs had displays and answered questions. This was very well attended and I found it very easy to meet people, first-year and admits. Everyone seemed laid back and friendly, contrary to Booth's reputation for housing the geeky, competitive types. Cool! The first night ended with a squadron dinner in Lincoln Park followed by closing the bars with most of the class, UCLA-style. It seems that having the ability to stay out late is going to an asset at B-school. I did not attend breakfast the following morning.

The second day brought more presentations. Career Services here is amazing! They have a dedicated employee to West Coast recruiting! They also have "West Quests" where a group flys over to do interviews with Apple, Google, and the West Coast branches of firms. As it turns out, many people are trying to get to San Francisco after Booth, so I'd be in good company. They shuttled us to tour apartments, or should I say high rises? About half of the first years live in four buildings from the 2nd to the 55th floors a few minutes walk from the Millennium Park Metra stop which is a cool 25 minutes to campus. Pretty good living here. Chicago could be very fun. The night ended with another great event thrown at the Chicago Cultural Center, where we classed it up with "smart" business attire and drank beer from small glasses. It was here where I got some great face time with some profs and Rose Martinelli. Again, the party continued late into the night at another set of bars. An accurate prediction of what is to come?

So after distilling the information from the admit weekends, and really thinking about what it is that I want to accomplish, why an MBA, why now (sound familiar, essay writers?)? I learned more about myself and was able to focus my goals and apply this to making a school choice.

After a long application season it all boiled down to this goal: I want the ability to do anything. I want maximum flexibility in my next career. I want to be able to start projects of my own, form productive teams, and join existing teams and contribute creative management. Which specific industry or function? Good question. I don't yet. That's why I'm going to explore several industries and functions in Management Consulting initially after business school to gain a solid management foundation and open even more doors to projects, perhaps of my own creation, after a few years of experience. That's why I'm going to Chicago.

Their program will certainly prepare me well to handle challenges in leadership and organizations, and their total support to get students to excel in the recruiting process for MC is unrivaled. They coach you to the last detail, including how to leave a proper voicemail and how much time you should spend talking to each recruiter at a networking event.

I was sold at the admit weekend when Rose explained that Chicago is a place to explore and question things, especially yourself and your current career preference. She didn't try to "sell" the program, but rather just present it for what it is, a place where you work very hard to find better solutions to new and "solved" problems. I feel that I would emerge a transformed (and perhaps exhausted) leader ready to handle unfamiliar situations. I feel that location, cost, and reputation of the school should be considered after the quality of education. Because, later, when we are sitting as CEO of a startup, getting sued by a customer, facing a supply shortage, and nearly out of cash, we need a school that was tough on us so that we will be able to act decisively and confidently in these moments to ultimately succeed. Our choice should be based on the final product (us), and I believe that Chicago will make the best product.

Once I came to this realization, the choice was obvious, and the money didn't seem to matter anymore. But I am still in negotiations for scholarship money from Booth. As I learned with UCLA and USC, it never hurts to ask! Rose and I have been in contact since the admit weekend and I am optimistic that some aid will surface.

Now I'm just looking forward for the fall! What a ride this has been! See you in September, Chicago!

ultraeasy wrote:So after distilling the information from the admit weekends, and really thinking about what it is that I want to accomplish, why an MBA, why now (sound familiar, essay writers?)? I learned more about myself and was able to focus my goals and apply this to making a school choice.

After a long application season it all boiled down to this goal: I want the ability to do anything. I want maximum flexibility in my next career. I want to be able to start projects of my own, form productive teams, and join existing teams and contribute creative management. Which specific industry or function? Good question. I don't yet. That's why I'm going to explore several industries and functions in Management Consulting initially after business school to gain a solid management foundation and open even more doors to projects, perhaps of my own creation, after a few years of experience. That's why I'm going to Chicago.

Their program will certainly prepare me well to handle challenges in leadership and organizations, and their total support to get students to excel in the recruiting process for MC is unrivaled. They coach you to the last detail, including how to leave a proper voicemail and how much time you should spend talking to each recruiter at a networking event.

I was sold at the admit weekend when Rose explained that Chicago is a place to explore and question things, especially yourself and your current career preference. She didn't try to "sell" the program, but rather just present it for what it is, a place where you work very hard to find better solutions to new and "solved" problems. I feel that I would emerge a transformed (and perhaps exhausted) leader ready to handle unfamiliar situations. I feel that location, cost, and reputation of the school should be considered after the quality of education. Because, later, when we are sitting as CEO of a startup, getting sued by a customer, facing a supply shortage, and nearly out of cash, we need a school that was tough on us so that we will be able to act decisively and confidently in these moments to ultimately succeed. Our choice should be based on the final product (us), and I believe that Chicago will make the best product.

Once I came to this realization, the choice was obvious, and the money didn't seem to matter anymore. But I am still in negotiations for scholarship money from Booth. As I learned with UCLA and USC, it never hurts to ask! Rose and I have been in contact since the admit weekend and I am optimistic that some aid will surface.

Now I'm just looking forward for the fall! What a ride this has been! See you in September, Chicago!

Fantastic points ultra! Congrats on your Booth admit. Did you do anything to get off the waitlist? Also your points about Booth are definitely points that I will keep in mind when trying similarly to get off the waitlist or possibly reapplying to Booth as well as other schools.

Sounds like you got it figured out now! I am sure Booth will be an amazing experience and that it will be two of the best years of your life. The night life will be awesome too if you can fit that into the busy b-school schedule.

Thanks, guys! I am feeling good about the school choice and direction that I now have (subject to change, of course). Chicago is going to have a great nightlife and I certainly will find time to get out there.

My waitlist strategy could have been much better. I sent them just one additional email the night before the deadline for additional material, because I was pretty set on going to UCLA at the time. Strategy depends on the school, and Chicago is one of the ones that likes to receive more info and phone calls from their waitlisted candidates. Ideally, you should call them up and ask for feedback from your application, use that info to target any weak points in your application, then send additional emails explaining how you are strong in that area. I've heard that emailing every week is overkill, but once every three or four weeks is enough to keep your name fresh. But I think that they tap the waitlist when openings appear and they select people with profiles that will round out the class best. Since we have no control over which types (consultants, bankers, entrepreneurs) have already been accepted, it's really just luck if you get called off of the waitlist, because you were part of an underrepresented profile type. So really you just need to keep your name familiar for the admission's office, let them know that you would attend if selected, and hope that they call.

Good luck.