Comments on: What college should I go to if I want to get into HBS? http://www.asktheharvardmba.com/2008/11/08/what-college-should-i-go-to-if-i-want-to-get-into-hbs/ My name is Chris Yeh. I'm a Harvard MBA, and you can ask me anything! Sat, 04 Feb 2012 22:11:19 +0000 http://wordpress.org/?v=2.3.3 By: Cal http://www.asktheharvardmba.com/2008/11/08/what-college-should-i-go-to-if-i-want-to-get-into-hbs/#comment-446 Cal Tue, 11 Nov 2008 15:23:18 +0000 http://www.asktheharvardmba.com/2008/11/08/what-college-should-i-go-to-if-i-want-to-get-into-hbs/#comment-446 There is certainly a lot of debate on the topic of choosing schools. The two approaches I encounter most frequently: Approach #1: Go to the school with the best possible professors. You'll be exposed to the most cutting-edge results in the field. Approach #2: Find the school that offers the best fit on a number of factors, including size, teaching attention, location, student body attitudes, etc. There are arguments for each. (Though I think too many students are a priori dismissive of the first approach.) And they each have a different impact on the economics... For those who choose approach #1, this typically comes down to going to their state university unless they can get into an Ivy-caliber private university. It throws out of consideration the huge slew of second tier private institutions. For those who choose approach #2, all of those expensive second-tier private institutions become a possibility. The result: Approach #1 is less touchy-feely, but for most students, more frugal. Approach #2 is warm and fuzzy, but will likely end up costing you more. Thoughts? There is certainly a lot of debate on the topic of choosing schools. The two approaches I encounter most frequently:

Approach #1: Go to the school with the best possible professors. You’ll be exposed to the most cutting-edge results in the field.

Approach #2: Find the school that offers the best fit on a number of factors, including size, teaching attention, location, student body attitudes, etc.

There are arguments for each. (Though I think too many students are a priori dismissive of the first approach.) And they each have a different impact on the economics…

For those who choose approach #1, this typically comes down to going to their state university unless they can get into an Ivy-caliber private university. It throws out of consideration the huge slew of second tier private institutions.

For those who choose approach #2, all of those expensive second-tier private institutions become a possibility.

The result: Approach #1 is less touchy-feely, but for most students, more frugal. Approach #2 is warm and fuzzy, but will likely end up costing you more.

Thoughts?

]]> By: tdc http://www.asktheharvardmba.com/2008/11/08/what-college-should-i-go-to-if-i-want-to-get-into-hbs/#comment-445 tdc Mon, 10 Nov 2008 21:59:50 +0000 http://www.asktheharvardmba.com/2008/11/08/what-college-should-i-go-to-if-i-want-to-get-into-hbs/#comment-445 I'm sorry, but I have to disagree on your advice. High school seniors should always go to the college that offers them the best opportunities regardless of cost. Look at it from a simple NPV or IRR perspective. Better universities lead to better, higher paying post-graduation employment opportunities. This would, theoretically, better position the questioner for HBS. (This ignores the multifaceted aspects of the MBA admissions process for simplicity purposes.) Factoring in increased earning potential, even without a Harvard MBA, undoubtedly results in a higher NPV & IRR. I speak from experience. I put myself through a well-known, near-Ivy using need-based aid and covering the rest with student loans. It’s been 10 years since I received my undergraduate degree and I am far better off than if I attended one of the schools in our state system (discloser: NY does not have the best state university system). Could I have gotten here going the other route? Possible but it would’ve been far more difficult and highly unlikely. The questioner may think he is mortgaging his financial freedom, but that is short-sighted thinking and excludes the future benefits he or she will gain. I’m sorry, but I have to disagree on your advice. High school seniors should always go to the college that offers them the best opportunities regardless of cost. Look at it from a simple NPV or IRR perspective. Better universities lead to better, higher paying post-graduation employment opportunities. This would, theoretically, better position the questioner for HBS. (This ignores the multifaceted aspects of the MBA admissions process for simplicity purposes.) Factoring in increased earning potential, even without a Harvard MBA, undoubtedly results in a higher NPV & IRR.

I speak from experience. I put myself through a well-known, near-Ivy using need-based aid and covering the rest with student loans. It’s been 10 years since I received my undergraduate degree and I am far better off than if I attended one of the schools in our state system (discloser: NY does not have the best state university system). Could I have gotten here going the other route? Possible but it would’ve been far more difficult and highly unlikely.

The questioner may think he is mortgaging his financial freedom, but that is short-sighted thinking and excludes the future benefits he or she will gain.

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