Im having a hard time deciding on a few programs. I have been accepted to UT's and univ of Utah. both are there evening programs so I can still work, and pay for the wife and kid ( pretty near future). I get half off of utahs tuition, because i work for the school. ut's is hands down the better education, and is ranked higher. It has better networking, and better avg starting salary etc.. I can probably get out of utah's with little or no debt. If I go to UT, I would have to find two jobs (the wife and I) and take out a pretty hefty loan to cover tuition (its WAY more expensive). Both of these schools require a non refundable deposit ($2000), and want to know within 3 weeks my decision. Any advice? As a side note, my family is all in Texas, and my wifes family is all in Utah so that kind of negates each other. Im trying to determine at what point the extra debt to cover tuition becomes to steap to cover the value of the better education.

[This message has been edited by 7yrplan (edited 2/24/2009 11:52a).]

I'd go to the school that is in the state you plan to live in after you get your degree.

If you're going to live in Texas, then I think you'd be better off with the degree from t.u.

If you're going to live in Utah, then you might as well take the cheaper route and go with Utah, since I'd assume that a degree from Texas doesn't have as much clout over there as it does in Texas.

Always pick the best program that will accept you, even if it means graduating with additional debt. I cannot stress that enough.

I agree with both posts in different ways. You want to attend the best school in the state that you want to live in. Remember that regardless of rankings, both schools are "regional" schools meaning that their alumni network and recruiting value are primarilly in the area where they are located.

If it were UT vs Tech you would pick the better ranked school, UT. If it were UT vs Harvard, Stanford, Wharton, Columbia, or Kellogg, then you go to the nationally recognized program. However, since it is UT vs Utah which are both regional schools in different areas, it gets back to where you want to live and work.

(sorry, replied not realizing you were talking evening programs...)

[This message has been edited by mwesson (edited 3/1/2009 4:43p).]

I graduated from UT-Austin's evening program in 2006.

I look at MBA programs slightly differently. It all depends on what you are going for. Some initial thoughts to consider.

1. Most of the people that graduated with me moved jobs and maybe made 90k, but with 50k of debt you have a negative ROI. Unless you have some specialized skills or are planning to go into a high income job after graduation you will probably end up negative from a financial ROI standpoint (if you have to pay everything yourself)

2. You only really get one shot to go to an MBA program - and the name of the program stays with you for life. Some industries care where you got your MBA from, some don't.

If you are going to get your MBA to go into a specific field then you should get the MBA that allows you to get there with the least debt.

If you are going just to change jobs/industries (but you don't know exactly what jobs you will go into), you need to seriously consider the ROI vs your displeasure with your current job. It may be better to get a cheaper MBA or wait till you can't get on with a company that will pay for it (or part of it) - if those type of companies still exist (none that I know of now)

If you are just going to get an MBA just to get one (I would not particularly recommend this, but I don't know everyone's situation), go with the place that creates the least debt.

There were 100k new MBA's being generated every year when I graduated. There are very few 100k+ jobs (starting salary) compared to that demand. The ideal situation is to get on with a company and let them sponsor you (full or part).

I have friends that went through it, changed jobs (maybe 15k increase in salary), and are financially negative - but would do it again in a heartbeat since they love their new jobs. Others stayed where they were but now have a nice 50k debt payment (and all they got was another diploma on the wall.)

I don't want to come off negative against MBA programs, but the expense of these things truly outweigh their rewards in many cases (just like 2nd/3rd tier law schools - 60k salary for 100k debt)

I got my company to pay for mine, so I went to the best place I could get in (which was UT-Austin). The MBA has allowed me to further my career more than I could have imagined - however, I don't think I would have done it if I have to pay 100% - I would have found a way to be happy without an MBA. But then again, everyone has different reasons for going - you just have to figure out yours and make sure the MBA program matches those goals.

Texas unless you plan on living in Utah or Idaho.

eeAg, I think your cynicism of MBA's is a valid warning for any and all looking into them. I stepped through all of those options in my decision process and came out with the super expensive decision (starting at Columbia full time in August) in the end because of my particular career goals and complete boredom of my previous career as an actuary. My 2 year ROI will be negative, but my "springboard" potential and my marketability/ceiling will be much higher than going part time or most other programs.

OP - The bottom line in all of our posts is that you need to look long and hard at your specific work and financial situation as well as your intended career/personal path. Weigh the trade-offs and go with the best school that also feels right. Unfortunately us internet stooges can only provide so much input. The choice at the end of the day is with you.

ps - go to UT

thanks for the input guys. The other thing I failed to mention is that my background is in healthcare, and Utah allows me to emphasize my MBA towards healthcare. Univ of Tex does not. That is a big plus, since I would like to stay in the industry. I guess part of the reason I struggle with this, is that I worked really hard to get back into school. After all the work, I am having a hard time turning down the "better" school. I dont want to regret my decision in 15 years.

If you are in healthcare have you ever thought of getting a MHA degree?

yeah, I have thought of an MHA. It might or might not be on the list of things to do. Utah has a joint program (mba/mha), but they wont let me do it part time just yet. Im still mulling over my options with that, but I dont/cant want to quit working because I have a family to take care of.

Not to go off topic and pardon my ignorance, but I'm planning on going to grad school in the fall of '10 and was wondering what is a respectable GMAT score? I recently purchased a couple of study guides and will be starting a study group with a guy I work with who is looking to start at that time as well. I'm planning on applying to the local schools around Houston (UH, Rice, St. Thomas, HBU).

Just like SAT or any other standardized test "respectable" depends on where you are applying. I don't know the answer to the schools you listed, but I would guess anything over 600. To get a better answer look at their profile stats. Each school should show a middle 80% range (eg 610-750) to show their students GMAT excluding the outliers.

As someone mentioned, you just get one shot. Go for the best you can. I would go to UT given the choices you have. The brand name will be with you for life. Money comes and goes

atm2004, try Manhattan GMAT. And the Official Guide. Kaplan is a waste of time.