RacinReaver

I think that difference in BS/MS really depends on your field. I know for mine (materials) at my school it was generally closer to $5k-$10k. Also I know an MS is often sometimes seen by companies as a way of moving further up the ladder than someone with a BS.

You should also look to see if you can do your BS/MS in 4-4.5 years instead of 5. I know if I had dropped my physics minor I could have finished in 4, but I knew I was going to grad school, so I instead finished in 3.5 and saved a good deal in loans. One of my good friends went the other route and finished hers in 4. She wound up going to grad school, too, (needed to stay close geographically to her future husband). It let her get out of a handful of classes at her grad school, though she still had to take a bunch to get her second MS/fulfill PhD requirements.

NeoDymium

I'd say that this isn't really the full story simply because a masters gives you far more opportunity for career advancement in ChemE. A BS is almost always the best at the beginning, but in many fields, a graduate degree can give you many more career advancement opportunities.
Not to mention you'll be much more insulated from unemployment. 1-2 years of economic hard times will more than pay for the loans+opportunity cost of a Masters.

collegedude323

Would it seem like I am limiting myself, if I were to stay at my school, with a similar grad school ranking, rather than going to a different masters school ranked higher in engineering?

RacinReaver

I think you might just need to wait and see what sort of recruiters come on to campus for your career fairs to see how your degree might be viewed. I know Penn has a reputation for producing engineers that aren't actually interested in engineering, but just another way of getting access to Wharton and demonstrating their technical abilities.

collegedude323

That's my other concern, about if I ever wanted to go into consulting. I feel that I get less income/opportunities if I do become a consultant, and do I need an MBA for a consulting position?

collegedude323

Would that masters also help out at all in consulting?

Magnetron

Dude - stay at Penn and get your MS. You have a great situation at a great school - no need to second guess it. If you really want to pursue an uncommon sub-specialty once you get deep into your technical courses, you may have to find a mentor at some other school for your MS, but not likely to happen.

Skip the MBA. It's good to "know" business practices, but 2 years off of engineering would do more harm to your technical career than it is worth. To be a consultant you need technical excellence and the ability to speak to a room full of critics while maintaining your composure.

collegedude323

Thank you, and just to throw it out there, would it be a good decision to do this masters, if I ever wanted to apply pre-med?

Magnetron

If you want to keep an option for med school, make sure your humanities and social science classes are among the approved pre-med courses and keep up your grades. You will need extra biology classes. You will not need an MS in engineering.

I know several successful Drs who were engineering undergrads.

collegedude323

However, if I do my masters, would it seem possible to appeal to a med school, if I did something with biotechnology/drugs, so it seems like I want a pharmacology interest? I would be able to do bio classes easier this way.

NeoDymium

Apply to both and see how you fare. Make the choice from there.

cdw2152

I would stay and do your masters at penn. If you go to another school you will have two years and 36000 or more in tuition for your masters.

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collegedude323

I don't mean to sound full of myself, but I am guaranteed a significant chance of doing the masters; the main concern being if I should go with it or just simply apply med school without going for it.

NeoDymium

Apply for both. Decide from there.

collegedude323

But when for med school?