Sunday, May 5, 2013
Accepted at a top finance masters program
I was recently accepted at a top finance masters program. The admissions director called to congratulate me; however, I felt nothing. I had to fake being excited, and the conversation was rather awkward. I had applied to the program as a "hedge" in case nothing else worked out, hence my feeling of apathy. If I had gotten into a top MBA program, there is no doubt that I would have gone nuts during the phone call with admissions, and I would have wept tears of joy. Alas, that was not to be this year, but the fight goes on!
Although masters finance programs are actually well suited for me academically, it has several fundamental disadvantages when compared to a top MBA. First, it is simply not as versatile and fungible as an MBA. With an MBA, I could make transitions to multiple industries, and the degree will serve as a hedge against the business cycle. Essentially, I would not have to worry about having a good paying job regardless of the economic condition. Second, the MBA network is more vast and influential. The network may not pay off in the short-term, but long-term I strongly believe that having access to a worldwide base of alums who work in every industry and country imaginable is simply invaluable. And third, the MBA experience is a lot more fun, and the students come from a more diverse set of backgrounds. I think the social component is too often neglected, as it plays a critical role in helping one form lifelong relationships. Much of the MBA experience is outside the classroom, in clubs, travels, parties, etc. Although I will certainly make good friends at a finance program, it is simply not as socially dynamic as an MBA, and I will definitely miss out on something deeply transformational.
As of now, I'm planning on paying a deposit and deferring admission for a year while I re-apply to the top MBA programs. I must follow my heart's desire and give this one more shot.