Mid-20s PE Associate Considering Kellogg PT vs. Booth PT – Looking for Advice
I’ve been a long-time reader of this sub and am posting for the first time as I consider pursuing a part-time MBA. I’d appreciate any advice or perspectives.
Background
I’m currently a mid-20s middle-market private equity associate in a non-deal team role with 4 YOE. I’m based in the Midwest (not Chicago), so either program would require weekly weekend travel.
I graduated from a Top 100 university with a 3.9 GPA, completing two business majors and one liberal arts major. After graduation, I joined a bulge bracket bank in a front-office role outside of investment banking before moving to the buy side. Outside of work, I’ve also held several nonprofit board and leadership positions that would be included in my application.
I’m primarily considering Kellogg and Booth. I’ve attended preview days at both schools and sat in on classes at each.
Kellogg has granted me accelerated status, reducing my required coursework from 20.5 credits to 15.5, and I’ve been encouraged to apply with a GMAT/GRE waiver rather than taking an admissions exam. Between the reduced time commitment and lower overall cost, I’m currently leaning toward Kellogg.
I’m pursuing a part-time MBA because I don’t think leaving the workforce for a full-time program makes financial sense in my situation. The opportunity cost alone is significant, and I estimate the total cost of a full-time MBA would approach ~$600k versus roughly ~$120k for a part-time program.
Career Goals
My goal isn’t to make a major career pivot. I’d like to continue growing within my current firm, accelerate my progression, and remain in private equity in my current Midwest city. The biggest change I’d potentially pursue over the long term would be moving into a more investment-focused role within the PE industry.
Questions
Am I placing too much weight on Kellogg’s lower cost and accelerated curriculum, or would Booth provide meaningfully better long-term opportunities that justify the additional investment?
Booth has a well-earned reputation in finance and economics. For someone planning to stay in private equity, is there a meaningful difference in finance-related career outcomes between Booth and Kellogg?
For anyone who completed a finance or economics
concentration at Kellogg, how was your experience?
Should I take the Executive Assessment and apply to both programs simultaneously? I’m wondering whether Booth scholarships could narrow the cost difference enough to change the decision.
For those familiar with scholarships at either program, how competitive does my profile seem relative to recipients you’ve seen?
Am I asking the right questions, or are there important considerations I’m overlooking?
Thanks in advance for any advice.