If you have missed the first two parts of the series, Read Booth vs Wharton MBA: Location, Ranking, Cost & Class Profile
Wharton vs Chicago Booth MBA: Experiential Learning and Global Learning
8. Scholarships and Fellowships
Wharton has 40 scholarship and fellowship opportunities, whereas Chicago Booth offers 34 scholarships and fellowships. The Wharton funding opportunities are mainly concentrated within industries and for second-year MBA students. Chicago Booth funding opportunities are widely spread for women, underrepresented minorities, regions, and for students from emerging economies.
| Scholarship/Fellowship Type | Chicago Booth | Wharton |
|---|---|---|
| Women | Forté Foundation Fellowship | Forté Foundation Fellowship |
| Herman Family Fellowship for Women Entrepreneurs | ||
| CREW (Commercial Real Estate Executive Women in Chicago) | ||
| Social Impact and Innovation | Global Innovator Fellowships | Social Impact Fellowships |
| Leadership | Distinguished Fellowship | |
| Zmijewski Scholarship | ||
| Industry | Kilts Marketing Fellowship | Alcoa Inc. |
| Canfield Private Equity Fellowship | American Express Philanthropic Program | |
| Association of Management Consulting Firms Richard Metzler & Roland Berger Scholarship | Bain & Company, Inc. | |
| Ray E. Brown Fellowship | Bank of America Corporation | |
| McKinsey & Company Emerging Scholars | Bechtel Foundation | |
| Pension Real Estate Association Scholarship | Citigroup Foundation | |
| The Royal Academy of Engineering Sainsbury Management Fellowship | Credit Suisse | |
| Daimler Chrysler Corporation Fund | ||
| Deutsche Bank | ||
| Exxon Mobil Corporation | ||
| Ford Motor Company Fund | ||
| General Mills, Inc. | ||
| General Motors Foundation | ||
| The Goldman Sachs Group, Inc. | ||
| Merrill Lynch & Co., Inc. | ||
| New America Alliance Institute | ||
| Pension Real Estate Association | ||
| Robert A. Toigo Foundation | ||
| Robert R. Nathan Memorial Foundation | ||
| Emerging Economy | Marvin Zonis International Scholarship | Emerging Economy Fellowships |
| A. H. Tobaccowala Fellowship (India) | ||
| Chicago Booth Mexico Opportunity Scholarship | ||
| The Nelson Germanos Fellowship (Brazil) | ||
| Ramakrishnan Family Scholarship (India) | ||
| He Family Scholarship (China) | ||
| Instituto Ling Fellowship (Brazil) | ||
| Underrepresented Minorities | The Hispanic Scholarship Fund Fellowship | Howard E. Mitchell Fellowship |
| The ROMBA LGBT+ Fellowship | ||
| The Wharton Prism Fellowship | ||
| Military | David W. Fox Scholarship | Yellow Ribbon Program |
| Yellow Ribbon Program | Friends of Israel MBA Fellowship | |
| The Chapman Taylor Family MBA Fellowship | ||
| Regional | Dennis W. and Jane B. Carlton Fellowship (Israel) | |
| Ehara Scholarship (Japan) | ||
| Fundación Rafael del Pino (Spain) | ||
| LIFE Scholarship (Lebanese International Finance Executives) | ||
| MBA Strategy Company, Ukraine | ||
| Onsi Sawiris Scholarship Program (Egypt) | ||
| Paul and Daisy Soros Fellowship for New Americans | ||
| Second Year Students | Siebel Scholars Program | Penn Wharton Innovation Fund |
| The University of Chicago Obama Foundation Scholars Program | Summer Venture Award | |
| Startup Internship Award | ||
| Edward B Shills / Leonard L Zeidman Fellowship | ||
| Ford Fellowship – First year, best student | ||
| Academic Excellence Fellowship – Terms 2 and 3, best student | ||
| Inselbag Fellowship – First year (Top 5% eligible) | ||
| McGowan Fellowship – First year (Top 5% eligible) | ||
| Director’s List Fellowship – Each semester (Top 10% eligible) | ||
| Dr. Bruce I. Jacobs Scholars in Quantitative Finance – Second-year, exceptional students in Quantitative Finance Major | ||
| Behrman Family Fellowships | ||
| Real Estate Fellowships | ||
| Whitney M Young Fellowship | ||
| Toigo Fellowships |
Diversity (Funding): Chicago Booth > Wharton
Number of Scholarships: Wharton > Chicago Booth
Scholarships and Fellowships (By Industry): Wharton > Chicago Booth
Scholarships and Fellowships (By Function): Wharton > Chicago Booth
Scholarships and Fellowships (Women): Chicago Booth > Wharton
Scholarships and Fellowships (Underrepresented Minorities): Chicago Booth > Wharton
Scholarships and Fellowships (Emerging Markets): Chicago Booth > Wharton
9. Post-MBA Opportunities
By Industry
Wharton superseded Chicago Booth in the employment of its graduates in the finance industry, with the percent hired at Wharton at 30% versus 21% at Chicago Booth.
Wharton was dominant in Investment banking, Private Equity, and Venture Capital. However, Boothies secured a median base salary of $175,000 in investment banking, $25,000 higher than Wharton graduates. But, the upper hand is reversed in the private equity industry, with Wharton graduates securing salaries of $167,500 as compared to Boothie’s $150,000.
Booth is ahead of Wharton by the percentage of graduates hired in Consulting and Technology. Healthcare salaries were higher for Boothies by $1,500, whereas Wharton’s graduates secured higher salaries in Technology (>$8,000)
| Industry | Chicago Booth - Percent Hired (%) | Wharton - Percent Hired (%) | Chicago Booth - Median Base Salary | Wharton - Median Base Salary |
|---|---|---|---|---|
| Consulting | 34% | 27% | $165,000 | $165,000 |
| Healthcare | 3% | 5% | $132,500 | $131,000 |
| Investment Banking | 7% | 13% | $175,000 | $150,000 |
| Investment Management | 4% | 4% | $150,000 | $150,000 |
| Private Equity | 7% | 11% | $150,000 | $167,500 |
| Technology | 23% | 19% | $133,000 | $141,000 |
| Venture Capital | 2% | 3% | $150,000 | $157,500 |
By Function
Wharton and Booth have similar placements in Investment Banking and Product Management functions. Boothies secured the highest salary in investment banking ($175,000). Wharton’s best-earning function was in private equity/venture capital ($170,000).
Booth has the upper hand in Consulting, whereas Wharton emerges the winner in securing its graduates in private equity/venture capital functions.
| Function | Chicago Booth - Percent Hired (%) | Wharton - Percent Hired (%) | Chicago Booth - Median Base Salary | Wharton - Median Base Salary |
|---|---|---|---|---|
| Consulting | 35.9% | 34.1% | $165,000 | $165,000 |
| Investment Banking | 11.1% | 11.1% | $175,000 | $150,000 |
| Private Equity/Venture Capital | 8.5% | 12.2% | $150,000 | $170,000 |
| Product Management (Tech) | 7.4% | 7.8% | $144,000 | $144,000 |
Top Recruiters
Chicago Booth’s top 5 recruiters represented a mix of consulting, technology, and finance industries. In contrast, Wharton’s top employers were heavily dominated by consulting and technology firms. The median salaries at both Booth and Wharton were $155,000.
| School Name | Top Employer 1 | Top Employer 2 | Top Employer 3 | Top Employer 4 | Top Employer 5 |
|---|---|---|---|---|---|
| Chicago Booth | McKinsey & Co. | BCG | Amazon | Bain | Credit Suisse |
| Wharton | BCG | McKinsey & Co. | Bain | Amazon |
10. Alumni Network
Wharton’s Alumni network has a size of 100,000+ spread across 153 countries, while Booth has over 55,000+ spread over 120 countries.
Conclusion
Wharton’s strength is the employability of its graduates in the Consulting and Finance industry, particularly private equity and venture capital, whereas Booth’s stronghold is the employability of its graduates in Consulting, and Technology, with both offering equivalent opportunities in Investment Banking.
Wharton’s curriculum flexibility, a larger alumni network, gender equity and inclusivity, and international experiential learning opportunities make it a lucrative school for prospective MBA students, as evident in the high application volume. However, these advantages come at a $10,000 higher overall cost for the duration of the program compared to Chicago Booth.
Boothies enjoy the location advantages of living in a larger city with higher wages.
A larger variety of scholarships and fellowships are offered at Booth with diverse inclusivity metrics, but Wharton offers 6 more opportunities for finance professionals and provides support for second-year students.
If candidates know their post-MBA industry and function, prefer a structured curriculum, and like to explore an industry in-depth, Booth is the clear winner.
Wharton is ideal for those entering Consulting as the Global experiential learning opportunities is one-of-a-kind experience.
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