Ivy League or Target State School
I hope that I used "target state school" in the right manner. I am a high school senior and I have been accepted to Penn State Smeal (did not apply for Schreyers), Indiana (Kelley and Hutton Honors College), and can use athletic admission help to get into Dartmouth. I also applied to UT Austin and Georgetown. I have a 3.92 GPA unweighted, 4.7 weighted, and a 1470 SAT. I do not get need based or athletic scholarships at any school. My question is whether it would be better to spend a lot of money to go to Dartmouth ($70,000 a year, where I could not study finance as I would prefer, just economics) and Georgetown ($70,000 a year, assuming I get accepted, which is not a sure thing) or the state schools like Texas (maybe $50,000 a year if I do not get academic scholarships), Penn State and Indiana(maybe $35,000 a year). I did not edit this much so hope it makes sense
There's a lot to be said for picking the school you think will make you happiest for the next four years - damn the rest. No one can decide that but you.
With that out of the way, IU and PSU aren't target state schools like Michigan, Virginia, Cal-Berkeley. If you go that route and want a prestigious finance/consulting job, your work is cut out for you. You'll need to be near the top of your class and put in extra legwork for networking. At Dartmouth (or Georgetown), your classmates will be much more competitive, but generally if you get a 3.3+ GPA the opportunities will come to you. You've got to decide if that's worth the extra ~$140k price tag. UT's price fits with its prestige - in the middle. To me, the moderate savings vs Dartmouth isn't worth the significant drop in prestige. I'd only go there if you love the idea of living in Austin for 4 years (and, imo, who could blame you?).
Is there an in-state school with discounted tuition you'd consider? I don't see why you'd pay out of state rates for IU/PSU if your own state's school is any good. A decent school @ $15k or $20k could change the calculus here significantly.
Penn State is my in state school. It has horrible in state tuition (I overestimated slightly, it might really cost like $33,000) unless your parents work for the university (mine do not) in which case you get a 75% discount.
Go on Linkedin and look at amount of Dartmouth grads on the street, compared to UT and Georgetown. I can personally say that both UT & Georgetown had more bankers than Dartmouth or Cornell at the bank I summered at. The latter were usually in origination roles rather than traditional IB at my firm.
Worth noting that UT enrolls about 10x more undergrads than Dartmouth. I'd also guess that Dartmouth/Cornell sending relatively fewer to banking than other Ivies is a lot of self-selection. The types who want to do undergrad in New Hampshire or Ithaca aren't as keen to move to NYC right after school. Doesn't mean it's not an option for them.
What? You must have not been working in New York. Dartmouth is right up there with H/P/W in terms of representation.
OP: It is significantly tougher for UT Austin kids to land NY IBD roles. The added benefits of going to Dartmouth are easily worth an extra $20k/year (I'm also talking about perks outside of OCR like brand name, liberal arts education, robust social scene, etc.). Throw UT out the window.
Any opinion on being an Economics major (at Dartmouth) or an Accounting and Finance major(PSU,IU,UT,GTown)? I have been told that each firm trains you once you arrive so undergraduate degrees as long as they come with good grades are not that important.
That's essentially right. Econ serves as the catchall for business/finance/accounting at many target schools. While those specific degrees will open some specific doors (many of them great), the Dartmouth econ degree could probably open all of them.
Finance/consulting firms want to see a major with rigor, and typically prefer something quantitative (engineers & CS often do very well in recruitment). But as long as you prove you've got the work ethic and aptitude, they're willing to train you. Econ/finance coursework makes the learning curve easier, but there's countless history majors turned successful bankers.
Finance is considered simplified economics.
FWIW Pitt should give you a full ride. My stats were slightly better a while ago but I would assume you can get that. From your weighted GPA I’m assuming you have a ton of AP credit. Maybe tack on a financial engineering degree after UG and try finishing ug in 3 years.
Also fill out your fafsa. Ivy League financial aid will pay out even to parental incomes 150+++. The 70 sticker price is almost just for the mega rich. And if your dads over a million a year you wouldn’t be asking about tuition.
With your stats though I have to assume you can get merit scholarships at some of these state schools.
I would probably pass on Dartmouth. Nothing stands out about that school to me. Only person I know who went there dropped out to move to Wellington to be an equestrian(dad was a Goldman partner)
I would apply to more state schools if you are looking to save money. Should find one willing to pay you some. UF is one I think gives a ton of merit.
Please, please, please, for fuck's sake, please, go to an Ivy or an internationally recognized institution. Brand from pedigree is only a part of the reason. If your family can afford the $70k for four years, it's a fucking no-brainer. I do sound like an elitist snob but there are intrinsic reasons behind choosing "prestigious" schools.
In banking, Dartmouth or Georgetown will absolutely murder the schools you've listed. Even for interesting, high-learning professions outside of banking or front office high finance, like law, consulting, tech, startups, Dartmouth>>>State Schools. Sometime down the road you may - if you're not a dumb drone you will - reconsider your career with deep introspection. IU Kelley sending 80 kids to banking a year doesn't mean shit if you're not one of the 80.
Going to a good school entails more resources, more alumni, more competitive background that leads to higher standards and your own development. Wanna go abroad during undergrad? Wanna delve into politics? Shit happens in life, and you must be a drone if for the four years in college all you want to do is break into wall street. Even if you're a drone, take an Ivy or an equally good school (Chicago, Georgetown, Duke, Northwestern)
Believe me, as a high school senior, your take on careers and life is limited, and you will want/experience more in college, and the down the road of your 40+ year career. Don't ever let mediocrity and compromise shroud your decisions. Use athletic admission help when writing Dartmouth, and if possible, cast a wider net in your reach schools.
I'd go to the Ivy
if you're dead set on a state school, Pitt is okay- you can land opps from the school but it will require a lot of networking etc
for reference they gave me a huge scholarship (out of state) and i had stats comparable to yours, so maybe apply and see how that goes..
but honestly I'd say fuck the cost and go to the ivy
I thru Pitt in their but their are likely other options.
Since all the state schools he listed were mega expensive.
Even if presumably his dad would pick up the entire tab wherever he goes you could still argue for PiTT. They might give him a full ride. He could make it work for 10k a year in living expenses there. So save 240k over 4 years. If you could get dad to right you a check for the difference to invest would open a lot of it’s own opportunities.
Now I know nothing on this. I was a financial aid kid. So top 20 schools were 15k a year and probably a bit less. So for me it’s a no brainer to go for name.
For a kid that’s family income 250 a year would be a different conversation. Mega rich or poor go for prestige. Upper middle class gets complicated.
Adipisci iste vitae delectus et ea autem. Voluptatem quos ut sunt atque. Et saepe dicta amet voluptatibus sed eaque qui. Quae minima sit et. Molestias non ipsa debitis illo. Dolor dolores corporis eligendi id.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...