We can all agree that an MBA from Harvard, Stanford, Booth, or Wharton is validation to the world that you're a big deal. The big kahuna. The cat's meow. The big cheese! But some people say that not getting into a top MBA program makes applying a waste of time. That is just insane! Ok, mildly insane. There are always exceptions. If you are a rock star making big bucks in Private Equity or at an elite hedge fund, then eh, go big or go home. After all, it is true that the value of an MBA starts to drop as you begin to move down the rankings. However, that said, for the majority of applicants, MBA programs outside of the top 5 can make dreams come true too!

It's important to think about WHY you're going to business school in the first place. Most folks are looking for a new job or a different career path or, simply, more money. I think we can all agree that, at the very foundation of most decisions, career is what drives applicants. Some of you want 2 years to party too. Hey, we get it. That's a great reason too! But it's a professional degree. So why would anyone think only a handful of programs can enable goals?

At the end of the day, applicants need to remind themselves that it's the career opportunities that matter first and foremost, not the brand name of the school. Getting a job at a consulting firm, bank, tech company, or CPG company can happen at a number of different schools so why wouldn't it make sense to apply to programs outside of the ultra-elite? After all, you'll still have the same title, same salary, and same career trajectory as any other student from any other school . Sure, you can argue the education quality will vary and the culture may be different but any top MBA program can provide the basics that you need to be successful. In fact, check out this different approach to choosing MBA programs by LinkedIn that starts with where you want to go in your career and works backwards to identify the right schools to target.

But let's not be naive. Brand matters. That sweet, sweet name-drop can open some fancy doors and introduce you to some important people! So how and where does pedigree matter?

First off, the pedigree of your school will attract companies and maybe get you an interview. Someone from a top school may have more opportunities to get a foot in the door. Top tier banks, consulting firms, and companies sometimes have cut offs in terms of which schools they'll recruit from. For example, if you're looking to get into banking, outside of the top 10 will be a bit more difficult and outside the top 20 is pretty much like climbing a mountain. In a blizzard. With a risk of an avalanche. Do people do it? Sure. But not many. If you're going off the beaten path, you'll be using your resume to line up interviews with companies that don't have formalized interview processes for MBAs. Your school's reputation will matter! For slightly lower ranked MBA programs, however, don't underestimate the power of their networks and locations to get you some of those same opportunities! Beyond the initial interview, success depends purely on your ability to impress and perform, not the school name on your degree.

Secondly, and just as importantly, this brand will follow you around for the rest of your career. A good brand name can open doors long after you've graduated! They can buy you credibility, grease wheels, and set you apart. That doesn't sound too bad now, does it? So our advice is always go to the best tier school you get into. But if you're more focused on getting your foot in the door to a new industry, schools like Columbia, Fuqua, and Darden can help you do just that!

So as you make decisions on whether or not to get your MBA and which schools to target, remember not to get caught up in the "top MBA program or bust" mindset. As many reports show, the ROI of an MBA makes it worthwhile to invest in your career and maybe even make that switch into something new. As you get started on your MBA application planning make sure to check out our other free resources and sign up for a free consultation! We would love to hear from you and put you on the right path (for you) to a top MBA program!