I am transferring from a community college with a 4.0 GPA. I applied to other schools that place much better for Investment Banking, but unfortunately I was denied to all of them. I was accepted into the business school at all 3. Each school will be very similar in price as well, only costing me about $15,000-20,000 in loans/year after grants/scholarships. I will be an incoming Junior at all 3 schools.
While the denials to the top schools have slightly discouraged me, my goal is still to get a job in IBD at a BB or top MM. Obviously, I know, regardless of the school, that I am going to have to put in countless hours of work networking on my own.
At Marshall, I'm assuming I would most likely be looking at branches in LA/SF and at branches in Chicago for UIUC and Depaul. Which of these schools do you think is the best choice to try to get a SA position at hopefully a BB, or a top MM or top boutique?
I appreciate the time and help.
USC Marshall - Hands down Great placement into LA and decent into SF. Great college life and awesome campus.
DePaul is not in the same league as UIUC or USC. As for which, I'd say it is up to you, OP. Definitely not a slam dunk for either, but solid regional and some BB placement.
This is basically a choice between West coast (USC) and Chicago (UIUC). It's really whatever you prefer.
Do not go to DePaul.
Thanks for the replies guys. The only reason I was considering Depaul at all was because of its location in Chicago. Figured networking might be slightly easier being right in the city.
Looking forward to hearing others ideas comparing USC to UIUC.
Is NYC a realistic possibility from either? And, say I ended up as an analyst at a bank on the West Coast, is it easy to relocate to NYC or Chicago after a couple years work experience or after an MBA. I wouldn't mind starting on the West Coast but wouldn't want to spend the majority of my career there.
Go to USC. OCR for west coast is very strong. All BBs (minus DB for whatever reason) and many strong MMs recruit on campus. Network hard and smart and the alumni will fight for you. Going to NY is harder and will require a lot of networking to get interviews, but every year a few kids from the east coast end up going to NY so its definitely possible. You'll also have a shit ton of fun for two years (not saying you wouldn't at UIUC, but probably not in 75 degree weather everyday)
NYC will be easier from UIUC, although it sounds like it has gotten harder than when I was there more than a decade ago. Historically, UIUC gets some decent recruiting for NYC and plenty opportunities in Chicago. I never ran across a USC grad in finance when I was in NYC, but that may be as much about desire from USC grads to stay out West.
100% USC unless cost is a factor.
It depends on your goals. However, the advantages for USC far outweigh UIUC. USC is a better school altogether and you're sure to have a better experience there.
While the advantages of USC likely do outweigh UIUC, there's no guarantee that you will have a better experience. Despite it's farmland location, UIUC is pretty darn fun if you enjoy partying.
That said, college is mostly what you make of it, and if you are looking for it, it's hard to not have a good time at most schools.
Agreed. I preferred the college town route for undergrad and the city life for MBA
Thanks for the replies guys. I was checking out the Trojan Investing Society Mentorship Program and it looks like that program is doing a pretty good job of placing people into West Coast BB's. I am not finding nearly as much information on recent UIUC graduates going to BB's in CHI or NYC (maybe I'm not looking in the right places)
I'm still not all that educated on all the specific details of the exit opportunities after a couple years in investment banking. Basically, I would have no problem working on the West Coast for a couple years after college if USC will significantly increase my chances of landing at a BB, but I do not think I would want to spend my entire career out there as all of my family resides in the Midwest/East.
After IB on the west coast for 2 years, would breaking into PE or a hedge fund in CHI or NYC be extremely more difficult than breaking into a PE or hedge fund on the west coast or just slightly more difficult? Also, if your performance is excellent as an analyst, is it still difficult to lateral to a bank in CHI or NYC?
I'm guessing if I pursued an MBA at a top school after a couple years of IB, the location of the MBA program would strongly impact where most of my offers would come from (Columbia MBA would give me more opportunities in NYC, Kellogg MBA would give me more opportunities in Chicago). Is this reasoning correct? Just curious, do many i-bankers leave after their analyst stints for Business School?
I know I'm asking a crazy amount of questions but really do appreciate all the help. Obviously, I know that the work I put in myself will have the biggest impact on my future career, but I just want to set myself up for success the best I can.
USC and then just stay out in CA. My first job out of college was in CA after having grown up and going to school in the northeast. I moved back east after a while because family and friends were here. Now 15 yrs later I'd give my left nut to live in Santa Monica. Winter blows, especially this past one. You can surf before you go to work there.
You will establish a network out there and I think USC has a pretty good business alumni network but they're primarily in CA-I rarely see any west coast schools back here, maybe Stanford but even not too many of them. As you work you'll also develop a network so if you really want to move back you'll have to try to develop a network on the east coast or go to bschool here. It's not impossible but a lot of people end up settling down around where they went to college because it's where you first become an adult and your friends are there. Most kids I went to school with in the northeast but were from CA ended up staying here for example.
But in reality, you're 18 years old. USC is a great school, great location (well not its exact neighborhood...) has good looking members of the opposite sex (or same sex if that's how you swing) and you don't even know if you're going to want do IB then hf's. Go where you want, have fun, party too much, sleep too little, make lifelong friendships and f*ck as much as possible. I went to school a long haired pot smoking hippy and 20 years later I'm a private equity executive.
Have fun. You're young.
USC wins this competition hands down especially if you want to stay on the west coast post graduation. Great academics, incredible social life, top sports teams, and very good career opportunities. I know many USC alumni who went into investment banking straight out of undergrad. Major in business, earn a 3.5 or greater GPA, and get decent corporate finance internships. You're guaranteed to get a job in banking if you're not incredibly socially awkward.
Found this forum - I transferred to DePaul from a CC last year. Starting at Morgan this Summer (analyst), location and networking were essential. Fuck these guys trolling DePaul.
How to convince someone USC with 1/3 vs. UIUC Full money (Originally Posted: 06/03/2015)
A good buddy of mine is deciding between Marshall and UIUC with about a full tuition scholarship.
Marshall is the far superior school. The differential for tuition over 2 years is 50k and then cost of living probably another 20 ish so let's call it 70k differential.
Those are the only two schools he got into. I think its insane he's leaning towards UIUC because 70k loan is maybe 800 bucks a month over 10 years. It's not that much and SC is just a better school for recruiting.
What would you tell your friend outside of look at employment records, look at alumni, look at recruiting?
Unfortunately, it's not your decision, it's your friend's. Marshall may not be the right school even if it recruits better. Now, if this friend exhibits pretty lofty recruiting aspirations out of school (high finance, consulting, etc), you wouldn't be out of line with sharing any hard data you have to suade them otherwise (and I would encourage you to do so if this is the case, I got burned by a low ranked undergrad). But UIUC might fit their goals. $800/month for 10 years - no, it will be way more than that with deferred & charged interest. That might be a lot from their background. Especially when you figure most people graduate making in the $30's-$40's.
Also a full tuition scholarship reads well on a resume. So who knows.
He doesn't have lofty goals of high finance, but I think consulting or good corporate.
However, point well taken.
Thanks - this was a thoughtful answer and I see your point.
This is MBA, so I think most people at Illinois might be making 80-90 whereas Marshall probably 100-110.
Living in California is better than living in Illinois.
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