List of schools to which to apply

[Rai-fan]

I'm a white male with 7 years of progressive work experience, but not quite at the "ready for an executive MBA" level.

3.4 undergrad GPA/690 GMAT

Currently in a decent job in DC & applying to the part-time evening programs at Maryland & Georgetown. While each of these clearly make sense since I could grow within my current firm while pursuing the degree, I'm also wondering if I'm missing a bet by not aiming higher, i.e. applying to the part-time program at Kellogg. Harder to justify, as I would have to quit my job, move to Chicago & find a job there, but is the relative prestige difference worth the added cost?

Would the adcomm view such a prospective move negatively? Even if I could get into Kellogg's full-time program, I'm not in a position financially to pursue it--loans for school are one thing, but having to forgo the cost-of-living income provided by a full-time job is impossible for me right now.

[Lisa Anderson]

Dear Rai-fan,

In my opinion, applying to a part-time program in a different city without have a job there or a way to transfer in your current role is a bad idea. The school will want to know your plans and moving to a city for a part-time MBA program with no job just doesn't come across as a smart move. If you are looking to continue in your current career path or industry, then the part-time programs at Georgetown and Maryland should be solid options.

With regards to full-time programs, you might be surprised on the actual cost difference for you from a part-time program. While your job might cover your living expenses, you are still taking out loans to cover school. Many part-time programs are actually more expensive than full-time AND your living expenses are sometimes less when you are in school versus working. Finally, the cost of borrowing for student loans is quite low so the net effect in terms of your loan payments post-MBA is insignificant. If you really want to go full-time, you might run the numbers and see what the costs will really be for a full-time versus part-time.

Good luck,
Lisa