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I may be able to provide some insight into helping you and others with the decision between Wharton, HBS, & other top programs. I went through the same struggle that many others have gone through. Obviously, deciding between schools should depend largely on what you are looking to get out of your MBA program. Wharton, HBS, Stanford, MIT, etc. are all excellent programs, but each one has its own particular strengths and weaknesses. In my case, I decided to only apply to Wharton/Lauder and fortunately was accepted in R1.
I became very familiar with Harvard Business School (and Sloan, for that matter) as a result of my education and indirect affiliation with HBS. I did my undergrad at Harvard and received my MS from MIT, and I have a number of good friends and a cousin who are graduates of HBS.
Despite my familiarity with Harvard and my improved odds of acceptance to HBS as a Harvard grad, I decided that I would apply to only Wharton in the first round and then to HBS and Stanford in the second round if I were not admitted to Wharton.
My rationale for choosing Wharton is based on the following:
1. Education—Because of my interests in private equity and other areas of investment, Wharton’s finance program was extremely attractive to me. Yet, Wharton also will enable me to balance the development of my finance skills with important management and leadership skills through the ability to double major in strategic management, Wharton’s Center for Leadership, and participating on one of Wharton’s advisory boards/committees.
2. International programs—Wharton offers an array of international academic, professional, and non-profit programs that no other school can match. The Lauder Institute will enable me to improve my language and international professional skills; Wharton’s alliance with INSEAD will allow me to gain a different educational perspective at the top European MBA program; the Global Immersion Program will increase my understanding of China; and the International Volunteer Project would allow me to contribute meaningfully to a developing region of the world.
3. Brand recognition—As hard as I tried to deny it, attending an MBA program with name-brand recognition was important to me. While Wharton may not be a household name, its reputation is phenomenal among those circles that truly matter in the business world.
What also amazes me is the strength of Wharton’s reputation despite not having a name like Harvard, Stanford, or MIT as a “crutch.” Penn is a great school, but most people are not even aware that it is in the Ivy League. Bottom line—Wharton, more than many of the top programs, has built its name on its own merit.
4. Location—To be honest, I was not excited about living in Philadelphia. Having grown up in Texas and having lived in Boston for 5 years, Brazil for 2 years, and South Florida for just less than a year, I was afraid that Philadelphia would be a significant downgrade in the quality of living.
When I visited Philadelphia in October, however, I was pleasantly surprised. Philadelphia boasts amazing architecture, excellent museums, and great restaurants. Moreover, it’s not nearly as cold as Boston and its relative proximity to NYC and DC are pluses for both career management and recreational purposes.
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