Decision b/w DC Part-times

[voiceofsticks]

Hey everyone, I'd love some input on which program might make sense. Here's the specs:

26 y/o
3 yrs exp in healthcare/IT
2.6 undergrad GPA in Molec Bio at a small lesser known college
3.5 GPA in post-grad certifications specific to my jobs
650 GMAT (tilted toward verbal)
Solid essays, recs, leadership experience in job and personal life
> $75k salary, company is paying $5k/yr

I'm only looking around DC at this point

So I haven't heard back from anywhere but let's just say for the sake of argument that I get in everywhere (making it through the interview at GTown):

- Georgetown EP
- Smith Part-time (2nd most expensive after GTown)
- Kogod Professional
- GW Professional

I am concerned about debt b/c we're still paying off undergrad (no debt issues otherwise if you're curious), but I really, really think now is the time for an MBA. My goal is to transition entirely from my current field and head toward consulting or general management. I'd love to end up in (don't laugh) the outdoor gear industry (management), non-profit management, or consulting in emerging markets. We'd love to live internationally so the brand name is key. B/c of debt the price tag on places like GTown freaks me out. I totally get that GTown is on a dif. level than the other 3, and in my mind Smith and GW are sort of tied (Smith has higher rankings, but GW has a stronger brand name-ish).

IN SUMMARY:
GTown has obvious appeal b/c of the name, but price is scary, especially if I'm not planning on transitioning to a high-$ career. I really don't think AU makes sense unless I don't get in anywhere else. Smith and GW though....how would I decide

So my questions...
1. Worth reaching for GTown if I get in?
2. How to decide b/w Smith and GW?
3. If I only get into AU is it worth it or do I take some time and reset?
4. Do any of these programs offer an advantage for me as I try to switch careers through a Part-Time MBA?

Thanks for reading and posting!

[Jon@Admissionado]

Well, to start with I would say Gtown has the only really A-class MBA of the bunch. But, as you wrote, there are other considerations, like money.

Actually right now, I would say, hold tight and don't worry about theoretical. Because it really is hard to say where you should go when you don't know what the schools are offering. Meaning what happens when one of the schools offers you some money? changes the whole thing.
In the meanwhile, until you get that answer I would say look very carefully at where the alumni are going and what salaries they are getting when they leave, because since you are stuck to an area, those will likely be the most important stats for you.

[wmalum2006]

I have also applied or will apply to the same target schools and I'm just waiting for the decisions since it's all out of my hands now.

Of the four schools here, only GW and American give scholarship money to PT students, and I would imagine that even if you got scholarship money, it isn't going to be a very large amount, like half of your tuition, etc. The way the DC part time MBA market looks, the impression I get is that for students with jobs that don't require much or any travel, Georgetown is the #1 program, then Smith/GW, and then AU.

If you travel a lot during the week, Georgetown will not be a good choice because it's not a flexible program and I remember at an info session last fall that their admissions staff gave this warning. It was the first thing they said. Smith has the only weekend program in the DC area so that helps them grab some better students on paper who only want to take class on a Saturday, or don't have time to take weekday classes. And it's more flexible to your schedule, so Smith still has a real solid program.

There could be some folks in our area who are lured to the PT programs at NYU, Chicago, or Kellogg as well since they all have weekend options I believe, but then you'd have to factor in travel costs in your cost of attendance and a train or flying to NYC or Chicago isn't going to be cheap.

Good luck with the decisions when they roll in. I'm just waiting until then

[voiceofsticks]

Thanks for the reply wmalum2006. I actually don't have to travel at all for work, the question is more 1) can I get into Georgetown, and 2) can I afford it? I understand the investment-in-a-quality-MBA side of things, but I think that I will just have to see where I get in and how much it shakes out to be.

My wife and I are starting a family here in the next few months, so I think that a top-flight MBA at a PT program like Booth or Kellogg is tempting but not where I want to spend my weekends. It's all about balance, right?

Anyway, I appreciate the insight, and maybe I'll see you in a class sometime soon.

[wmalum2006]

Yup voiceofsticks, a part time program needs to consider balance in the equation.

I'm not married, so I'm not worried about other responsibilities with my family. It also looks like you're trying to pay for as much of the MBA without using loans. I'm not quite as lucky. While my employer supports my decision to go for the PT MBA, I'm not getting any tuition support.

With money issues in regards to the schools, Georgetown is the highest, but not by much. Smith actually charges more per credit hour. Here's a breakdown:

Georgetown (60 credits at $1,386/hr): $83,160*
Maryland (54 credits at $1,425/hr assuming no classes @ UMCP): $76,950*
If you're not a Maryland resident and you take a class at UMCP (main campus), then it's $1,695/hr.
GWU (52.5 credits at $1,306.25/hr): $68,578.13*
AU (48 credit hours): Total program cost is $71,400**

*Tuition's only going up every year, so the total tuition bill will go up one way or another from this figure. This figure doesn't include books, laptop, iPad, travel to school, travel for study abroad, and living/eating expenses. All of these factors are put into cost of attendance if you need to take out a loan.
**Kogod includes books, class meals, and at least some of the costs for a required study abroad term into their tuition. That is a plus for their MBA program, especially if an admit has a scholarship on top of this, regardless of the amount.

I intend on staying in this area, like you. But as you implied, it looks like Georgetown is going to be the toughest school to get in for the DC area applicants, but its lack of a flex or a weekend option is going to have some prospects look more closely at the other schools we mentioned. All the programs are pretty unique so fit matters too. But until at least one school gives me some good news, I'm with you in feeling anxious until decisions come in.

[voiceofsticks]

I think I added in some fees along the way, but I ended up with Georgetown being closer to $98k, and Maryland at $81k (GWU and AU about the same as what you had). I like your numbers more though , especially for Georgetown. At the prices you're listing though, the Georgetown vs. Maryland argument would be an easy choice if I got into both. I didn't realize that Maryland was more per credit, and it's absolutely worth paying slightly more for a higher caliber program. I thought there was a larger difference in cost.

I'm also guessing that the cost of GWU might actually end up higher than AU when all is said and done, because as you noted AU includes everything. None of the study abroad program is covered by GWU initially, and I'm sure there's other fees that would creep up as well.

With regards to paying for my MBA, I'm actually going to need to do much of this on loans, so I'm in the same boat as you. Not sure what I wrote but I portrayed that wrong. I'll get $5k/yr from my company, but the majority will be financed. I'm definitely viewing at as an investment.

Also, we plan on staying for the next 5-10 yrs, but long-term I'd like to move away (I don't want to be a DC lifer). That's why in my inital post, I noted that in my mind for brand name, Georgetown is clearly the first choice, followed by a toss up between Maryland/Smith and GWU. In my research it also appears that AU is tailored more for industries that I don't have an interest in, like media production and tourism. But that's just speculation.

I've only been to info sessions for a few of these programs so far, so I've only been able to pick up on some the more minute differences. I absolutely agree that fit matters. AU is revamping their program this year to more resemble Georgetown. They will now include weekend residencies, and I believe cohorts (don't quote me on that). This will give them a very different appearance from Maryland and GWU, which seem to be more along the "flexible" type. I personally would love a cohort model, and I like the idea of residences. I'm hitting up a GWU session in a few days, and I'm going to get to a Maryland/Smith session too.

One last thing, I'm in healthcare/IT right now, and I'm planning on moving to a different field post-MBA. Despite that, I'm considering applying to the Johns Hopkins/Carey MBA as well. I realize that they're not even accredited yet, but the tuition is less than these 4 schools, and I think brand name will be meaningful in the future. It intrigues me, I guess.

[wmalum2006]

The big costs not included in the tuition, even AU is basically travel, room, and board costs which would be 20-30K over 12 months from looking at the COA budgets at the schools, but some at least some of these costs will be covered on our end because we have jobs, though the COA loan money is there if we had to use it.

From my understanding, here's the cohort vs. flex structure at the programs:

Georgetown - cohort for the core courses
Maryland - cohort for the first year depending on which campus you applied for (Shady Grove/DC/Baltimore)
GWU - Accelerated MBA is a cohort and a two year program. Professional MBA is flexible, but I would imagine that classes will be with many of the same people, so it's still going to be pretty close.
AU - cohort for the core courses

With Hopkins, I think their MBA program could skyrocket the rankings after it gets AACSB accreditation. It's a Top 15 university (their alums will argue it's a Top 10), and of course the Medical Schoool, Hospital, and the International Relations school in DC are top notch which is where it gets a lot of its reputation from. I have looked at it but ultimately have decided not to apply there.