Staying or leaving for bigger city, need opinions (Columbus, Ross: apartment, rent)

[JJ1400]

Hey everyone,

Recently I've got some hard decisions to make and am seeking help. I've lived in Columbus for 4 years and really love the city, especially the slower pace and quality of life part. My family helped me with a house so I don't have any mortgage.

Recently I decided to go to business school for MBA and am fairly confident that I can get into OSU, which is on the top of my list for a long time. However, given my background, I have a good chance to go to a better name program, such as Fuqua, Ross or Booth. I attended the MBA information sessions for those programs and what I got from them was that I can probably make around 130 to 160K ( more so on the 160K side) right after my MBA----IF I WORK IN A BIGGER CITY-Boston, LA, Chicago and Seattle, etc. However, if I go to OSU and stay in Columbus, I can probably make around 90 to 100K after graduation, so about 50-60% less, pretax.

I have a really hard time to decide. I LOVE COLUMBUS, I love everything about the city, not to mention that I already paid off my house. If I move to Seattle/Chicago, I won't be able to afford the same level of living that I have now. I am a quiet person and don't like noisy lifestyle, but I am also only in my 20's and don't want to risk not trying out possibilities in life. I also have a baby who was just born.

From a purely career and quality of life standpoint, which route would you take? Making 150k+ in a bigger city with more student loans and no house or making 90-100K staying in Columbus without paying too much tuition?-for a 27 year old married person with young kid.

Thanks in advance.

[snilsson]

I think the most interesting question here is to find out what you really wan't. There's no denying that having a lot of money is satisfying but is there something you're looking for with that extra money?

To me, it sounds like you should stay put. I think you will be happier with the lifestyle in a more 'comfortable' city, especially with the newborn.

[Rosebush1]

I don't think you need to decide now where to live post MBA. Why not apply to the best MBA programs, when you get accepted move for two years. Then decide where you want to live.
You can always rent your house here and get an apartment in the next city.
Big time MBA programs open doors.
For the record my son went to Booth. He had been working in NYC post college and then returned to NYC. My DIL just finished her MBA at Columbia.

[bjimmy24]

In my opinion it's clear you should stay in Columbus.

I just compared a salary of 100k in Columbus to Boston. It says "A salary of $100,000 in Columbus, Ohio should increase to $201,542 in Boston, Massachusetts."

It's hard to stress just how expensive these cities are. I live in an average neighborhood, though I do like it. But thinking about buying a house? Well, this is on my street:

^ 4 beds, 2 baths for.... $800k. This is not unusual.

So basically the large salary isn't nearly as large as you want it to be. Plus even if it were, people are miserable in here. Money will not help as much as people assume.

EDIT: BTW the pics in that zillow posting, the interior ones, do not appear to be that house. That view is not present on the block at all. I can't quite tell but it seems to be using pictures from a Fenway condo. Only the outside picture is accurate.

[Buckeye614]

Originally Posted by JJ1400

Hey everyone,

Recently I've got some hard decisions to make and am seeking help. I've lived in Columbus for 4 years and really love the city, especially the slower pace and quality of life part. My family helped me with a house so I don't have any mortgage.

Recently I decided to go to business school for MBA and am fairly confident that I can get into OSU, which is on the top of my list for a long time. However, given my background, I have a good chance to go to a better name program, such as Fuqua, Ross or Booth. I attended the MBA information sessions for those programs and what I got from them was that I can probably make around 130 to 160K ( more so on the 160K side) right after my MBA----IF I WORK IN A BIGGER CITY-Boston, LA, Chicago and Seattle, etc. However, if I go to OSU and stay in Columbus, I can probably make around 90 to 100K after graduation, so about 50-60% less, pretax.

I have a really hard time to decide. I LOVE COLUMBUS, I love everything about the city, not to mention that I already paid off my house. If I move to Seattle/Chicago, I won't be able to afford the same level of living that I have now. I am a quiet person and don't like noisy lifestyle, but I am also only in my 20's and don't want to risk not trying out possibilities in life. I also have a baby who was just born.

From a purely career and quality of life standpoint, which route would you take? Making 150k+ in a bigger city with more student loans and no house or making 90-100K staying in Columbus without paying too much tuition?-for a 27 year old married person with young kid.

Thanks in advance.

Based on your post I believe you should stay in Columbus.

1) You own property here. Owning a comfortably sized home in a desirable section of Los Angeles or Seattle that's family friendly is going to be an exorbitant cost.

2) You know you love Columbus and don't enjoy a "noisy lifestyle". To me that suggests you would be more comfortable here than in a large city.

3) The median starting salary is $95K with an MBA from OSU. That of course means a significant number of the OSU MBA graduates start off earning more than $95K. If you're in your twenties you have plenty of time to work towards a higher salary as well and that 95K is by no means a cap if you have the right skill set and networking skills.

4) The tuition is another factor to consider.

[JJ1400]

I want to take a chance to thank all of you who posted your opinions above, those are very valuable to me.

I've thought of attending one of those out of town programs for 2 years and return to Columbus after graduation, but my wife and my newly born daughter have to stay here in Columbus because my wife has got a very decent job here and her family is also in Ohio, which helps her take care of the baby sometimes. I qualify for in-state tuition for OSU and total out of pocket cost will be around 65k for 2 years assuming I don't get any scholarship. There will be no additional cost to attend OSU as I will live in my house and my wife's insurance covers me. For those out of state programs, total tuition will be at least 140K and I need to add insurance/housing, etc. so conservatively a 120k difference.

My heart belongs to OSU and Columbus, but sometimes I just can't get over the feeling of " Only the top 20 MBA programs matter". I don't feel it that way, but at least many people believe it.

[Eaglealum]

I actually buy-into a top 20 MBA program being worth the increased cost vs. a non top 20. However with your family situation and personal feelings about Columbus, it seems like you’re better off at OSU.

[Rosebush1]

Top tier MBA programs definitely have the biggest payback. The cost differential between OSU and the top programs pales in comparison to potential future earnings. In tough economic times the better degree will pay off in spades.
My son received a generous grant from Booth that was presented with the letter of acceptance but it was not a free ride.
Family disruption will occur anytime a working adult pursues more education. Your situation is more complicated because of your wife's job and family support.
Only you and your wife can decide.

[bjimmy24]

I'm not really sold on the idea that even a top MBA matters. Unless it's actually top-top. Basically if you go to Harvard. Other than that, everyone and their brother has an MBA.

[WRnative]

Have you considered an online program at a top MBA program, such as Tuck?

https://www.usnews.com/best-graduate...ngs?int=9dc208