The University of Chicago Booth School of Business and The Wharton School of the University of Pennsylvania offer world’s best MBA programs. Let us compare the programs based on 9 factors: Location, Ranking, Cost, Class Profile, Curriculum, Experiential Learning, International Learning Opportunities, Post-MBA Opportunities, and Alumni Network.
Booth is located in Chicago, the third largest city in the US and home to 29 Fortune 500 companies, Federal Reserve Bank, and five major financial exchanges - Chicago Stock Exchange (CHX), the Chicago Board Options Exchange, the Chicago Mercantile Exchange, the Chicago Board of Trade, and the NYSE Arca. The City is one of the most diversified economies in US with contribution from a wide range of sectors that include Finance, Manufacturing, IT, and Health Care. Chicago is known as the global center for derivatives trading. It is also known for sustainability, hosting 23 leading Clean Tech and Wind Energy Companies.
Wharton's main campus is located in Philadelphia, the second largest city in US East Coast. The city is known for healthcare and biotechnology, financial services, media, manufacturing and tourism industries. Philadelphia is home to Fortune 500 Companies that include top law firms, pharmaceutical companies like GlaxoSmithKline, GE Healthcare, and Siemens Medical Solutions, Internet Service Provider – Comcast and the Philadelphia Stock Exchange. Wharton also has a campus in San Francisco and in Fontainebleau, France, and Singapore through partnership with INSEAD.
Booth Full-time MBA program is ranked #10 in Financial Times Global MBA Ranking 2013, #1 in BusinessWeek Biennial Rankings, 2012, #1 in The Economist, 2012 Ranking and #4 in US News, 2012 Rankings. When you compare the ranking, Wharton Full-time MBA is ranked #3 in Financial Times Global MBA Ranking 2013, #3 in BusinessWeek Biennial Rankings, 2012, #13 in The Economist, 2012 Ranking and #3 in US News, 2012 Rankings. Booth has an average rank of 4 against Wharton's 5.5.
3) Duration and Cost
Booth Full-time MBA is a 21 Month Program compared to the 20-Month Wharton Full-time MBA. The expenses for the MBA program can be divided into six components: Tuition Fee, Health Insurance, Rent, Food, Books, and Transportation. For the academic year 2012-13, the recommended budget for Wharton MBA is $93,000. The Booth MBA Equivalent budget for one year is $118200.
4) Incoming Class
Booth has a healthy mix of International Students (32%), US Minorities (22%), and Women Candidates (35%). 50 countries are represented in the international mix. Business background dominates the Undergraduate Major group in the class with 32% representation. Students from Economics and Engineering are tied at second place with 22% each. The Average GMAT Score is 720 with the mid-80th Percentile ranging from 680-760. The Average GPA is at a strong 3.52 with the mid-80th percentile showing a range of 3.1 to 3.9.
Wharton also has a similar class profile. However, the International student representation is slightly higher (37%) with 71 countries and Women Candidates is better represented at 42%. The median GMAT Score is 720 with the mid-50th Percentile ranging from 560-790. The Undergraduate Major groups represented in Wharton MBA Class is dominated by Humanities (44%), Business (27%) and Engineering/Math/Science(24%). Both Wharton and Booth Class have an average experience of 5 years.
Chicago Booth curriculum builds the Management fundamentals in Financial Accounting, Microeconomics, and Statistics with the Foundation Courses. The MBA program then covers the Business Functions with courses in Finance, Marketing, Operations, Decisions, People, Strategy) and Business Environment. With electives, students get to choose from 14 Concentrations: Accounting, Analytic Finance, Analytic Management, Econometrics and Statistics, Economics, Entrepreneurship, Finance, General Management, Human Resource Management, International Business, Managerial and Organizational Behavior, Marketing Management, Operations Management and Strategic Management.
A unique course that has been introduced in Booth’s MBA program is the Leadership Effectiveness and Development (LEAD). It is the first experiential leadership-learning program that is mandatory for all students. The course is updated with the current leadership challenges. The objective of the course is to enhance self-awareness, develop presentation, and interpersonal skills.
Wharton changed its curriculum in 2012 and introduced flexibility right from the core curriculum. The 9 credits are divided into two sections: fixed core (3.5 credits) and flexible core (5.5 credits). The fixed core includes Foundations of Teamwork and Leadership, Marketing Management, Operations Management, Microeconomic Foundations, Advanced Topics in Managerial Economics, and Regression Analysis for Managers. Although the flexible core gives students the option to pick courses, it has higher credits. The topics covered in Flexible Core are Operations Management, Accounting, Legal Studies, Finance, Management, and Management Communication.
By choosing 200+ electives, Wharton MBA Students can select from 18 majors: Accounting, Business Economics and Public Policy, Entrepreneurial Management, Environmental and Risk Management, Finance, Health Care Management, Individualized Major, Information: Strategy and Economics, Insurance and Risk Management, Management, Marketing, Marketing and Operations Management (Joint Major), Multinational Management, Operations and Information Management, Organizational Effectiveness, Real Estate, Statistics, and Strategic Management.
2019 MBA Research Guide - Choose your MBA
F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach.
Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?
We cover them all through our extensive analysis.
+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
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Don't Fall for the Mere Exposure Effect
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Comprehensive MBA Research Guide: Includes Top MBA Programs by 19 Specializations:
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