MBA programs in Chicago (Phoenix, Rankin: loans, income, jobs)

[toedrag]

I am thinking of moving to Chicago to pursue my MBA. Are there any other schools besides these to look at?
Besides Northwestern and U of Chicago whom are obviously great schools how are these others? Thanks...

Northwestern
U of Chicago
Depaul
U of Illinois at Chicago
Loyola
N Illinois
Illinois Institute of Technology

[via chicago]

that would really depend on what you're studying

[toedrag]

Finance or Management

[desibear]

for MBA programs, your odds of actually increasing your paycheck post-mba significantly increase with Kellogg or Chicago. Depaul isn't too shabby but it most likely won't do much for you if you ever leave Midwest. As for the rest, I'd take a big black marker and cross the rest of the schools off the list and pretend that they are not an option. Really, they aren't, if what you want is an MBA that increases your future income versus an MBA for educational gratification, in which case do an online course from U. of Phoenix and save some $$. You should also google for mba schools etc. as there are a ton of forums out there dedicated to that topic alone.

[via chicago]

Chicago Business News, Analysis & Articles | Ranking Chicago's MBA Programs | Crain's

[toedrag]

I agree with you somewhat but Kellog and Chicago are both top 5 programs in the country so it may be hard to get in those. SO pretty much your take is if you cant get into the elite school WHY BOTHER....

[Frank the Tank]

A more important question: what is the reason for you wanting to get an MBA? Is it that you want new opportunities to get into investment banking, private equity and other "prestigious" financial positions? If so, to be brutally honest, Kellogg and U of C are really the only ones that are going to provide those opportunities. Those types of firms are going to do 90% or more of their hiring from the top 10 MBA programs in the country, so it's extremely tough to get those types of jobs unless you go to the very top schools (even when looking at neighboring Big Ten schools like Illinois, Indiana and Wisconsin that rank fairly high nationally in MBA rankings, there's a big drop-off in the types of job opportunities between the Kellogs/Chicagos of the world and those schools just a tier below them).

However, if your goal is to get broader management skills where you're trying to advance in a career-path that you're already on, then you may want to look at the other schools (DePaul, in particular, has a solid nuts-and-bolts program). I'm a bit more skeptical of places such as University of Phoenix - I don't think that many employers really give those types of online degree programs much weight. If you want to save money, a place like UIC offers relatively affordable in-state tuition.

At the end of the day, you'll need to do your own cost-benefit analysis in terms of whether your educational and salary goals are in line with the cost and time that go into getting an MBA.

[desibear]

ok, let me qualify it somewhat:
- If you are interested in breaking into a new field that has nothing to do with your work experience up until now and that field requires an mba, then either Kellogg or Chicago are your best bets
- Any interests in strategy consulting or i-banking should automatically steer you to K or C
- If you are happy doing what you are doing now and want to come back to your company in your old role with some more skillsets, then you really don't need to shell out for the top 5 mba
- If you want to learn solely because you like to learn, then you really don't need K or C. The teachers are better there of course and so is the quality of students but the cost and high barriers to entry are probably not worth the differential

Looking at the high cost of opportunity (2 years lost income, assuming you go full-time plus tuition plus books plus loans for rent/food/going-out, etc.) and then adding on the fact that after graduation, competition for 'good' jobs will be fierce, you should be thinking about getting into the best school you can possibly get into. If not K or C, then shoot for DePaul. In the end, an mba is just a tool and higher education is generally good. Just keep in mind that going with lesser mba program will not have any significant upside, so keep your expectations (career trajectory, pay, exit options) realistic. So, not trying to dissuade you, but trying to make sure you know what the ramifications are for choosing a lesser mba program. If possible, contact the admissions offices at schools other than K or C and have them put you in touch with an alum for a short q&a with you and try to get a feeling of what the program did for that alum.

[toedrag]

Thanks for the insight. I have been working in finance currently for 6 years and am looking to explore different options in finance maybe or decide to grow within the company and feel an MBA cant hurt. I would be doing a part-time MBA program. So i can continue to gain work experience and hopefully open some other doors. It seems after Depaul and U of I at Chicago and obviously Northwestern and Chicago those other schools are not worth it. I am just curious about the reputations of these schools. How is the job market in Chicago currently?

[via chicago]

I know plenty of people who have been pleased with NIUs MBA program. Probably wont get you an I-Banking job (little will), but still good bang for your buck.