• Sharebar

Hello I am senior in high school in ohio and am looking at smeal as a prospective college for me.
If I would end of going there I would like to join the PSIA and the nittany lion fund. i was wondering thought the website doesnt state how many people get accepted or rejected there. Does anybody have a clue on exactly how competitive it is to get into??
OSU isnt too good of a college in business but it is good enough to have something called the Fishers Futures program for investment banking and I was wondering how competitve that is?
University of Michigan was my first choice but I am not sure if i will be able to get into Ross, and might end up doing economics. If I dont they also have a club called the MIBC (michigan investment banking club) which is ment for all students at university of michigan.

I am looking at all of these as options but I feel as penn states Nittany lion fund isnt soo competitive if you are a freshman interested but if you are a junior then it becomes really hard.

Penn state's nittany lion fund sends 100% of their seniors to wall street, so does OSU fishers futures program, and so does University of Michigan ( even though it was just made 3 years ago)

and of course I am interested in investment banking and then prolly private equity after being an analyst. I have also read Rosenbaum's book: Investment banking ( recommended by the president of the MIBC), this sparked my interest for this career as well.

Thanks for all responses in advance!!

Comments (149)

  • TNA's picture

    Jerome, you are correct, you did not directly insult everyone at PSU. I apologize. My mistake stemmed from the fact that just about all of your posts in this thread were insulting, flippant, and generalizations. You attack one person for posting his personal experience and then you turn around and post your own personal experiences. I skimmed your posts and disagreed with you.

    Next time, act like an adult and address my error. Throwing out "non target" as if it is some sort of an insult is laughable. There are plenty of top schools that do not get IB recruiting. Even within top schools you can still be non target.

    This thread is about Mich vs OSU vs PSU. My posts have always said that if you can get into Ross you should go. Everyone knows Ross is a better ranked and better recruited school. That being said, PSU has a huge network, with many on Wall Street. If you can get into Ross, do it. If not then go to PSU/OSU and do well.

  • latitude4310's picture

    Jerome is spot on. The thread starter obviously is EXTREMELY intent on getting into investment banking - what other high school kid would come on to this forum? Clearly, he places a school's ability to place him into investment banking firms at or near the top of his reasons to go somewhere.

    With that fact in mind, the answer to his question is clear. Ross is FAR superior to the alternatives. Period. Even the other schools within UMich are superior to PSU and OSU. UMich is a internationally renowned school, with top 10 programs across nearly all academic fields, including economics and engineering. Even the econ and engineering departments in UMich certainly have better placement than PSU. Furthermore, it has the largest alumni network in the world.

    To the people saying why does it matter, "end game to end game": Can you guys even read? It matters because the thread starter asked what school is best for IB.

    Even if you don't end up wanting to pursue finance, UMich is a superior school. Even though it is a large public school, It is just simply at another level than PSU and OSU. On average, the kids are far smarter. Evidence: average SAT, ACT, High School GPA are all higher at UMich, and astronomically higher in Ross. At UMich, you will surrounded by more intelligent peers, recieve a better education, and have better job prospects. These facts are irrefutable. The ONLY reason to go to PSU is if you get a full ride there. Even still, if you want IB, its worth it to take out loans. The majority of people in Ross who want to get IB jobs get them. (Overall, placement is around 20-25%, but there are a ton of people here who do Marketing or some other bs, or take top consulting/corporate finance jobs. When you throw out all the people with under 3.5 (they clearly did not try very hard to maximize their job prospects), many of those who are left get IB jobs.)

  • In reply to latitude4310
    monty09's picture

    latitude4310 wrote:
    Jerome is spot on. The thread starter obviously is EXTREMELY intent on getting into investment banking - what other high school kid would come on to this forum? Clearly, he places a school's ability to place him into investment banking firms at or near the top of his reasons to go somewhere.

    With that fact in mind, the answer to his question is clear. Ross is FAR superior to the alternatives. Period. Even the other schools within UMich are superior to PSU and OSU. UMich is a internationally renowned school, with top 10 programs across nearly all academic fields, including economics and engineering. Even the econ and engineering departments in UMich certainly have better placement than PSU. Furthermore, it has the largest alumni network in the world.

    To the people saying why does it matter, "end game to end game": Can you guys even read? It matters because the thread starter asked what school is best for IB.

    Even if you don't end up wanting to pursue finance, UMich is a superior school. Even though it is a large public school, It is just simply at another level than PSU and OSU. On average, the kids are far smarter. Evidence: average SAT, ACT, High School GPA are all higher at UMich, and astronomically higher in Ross. At UMich, you will surrounded by more intelligent peers, recieve a better education, and have better job prospects. These facts are irrefutable. The ONLY reason to go to PSU is if you get a full ride there. Even still, if you want IB, its worth it to take out loans. The majority of people in Ross who want to get IB jobs get them. (Overall, placement is around 20-25%, but there are a ton of people here who do Marketing or some other bs, or take top consulting/corporate finance jobs. When you throw out all the people with under 3.5 (they clearly did not try very hard to maximize their job prospects), many of those who are left get IB jobs.)

    so you like the school huh? how long you been there? a year? two?

  • latitude4310's picture

    I sense some bitterness on your part towards the posts promoting UMich (i.e., giving the original poster the best and most relevant advice). Perhaps you are insecure about your school?

    Look, no one is saying PSU is a bad school. Or that, ultimately, your school is the be all end all of where you end up in life. But a better school DOES give you advantages in certain things. Job recruitment is one of these. Wharton has better placement than Ross. Ross has better placement than PSU. PSU has better placement than community college.

  • In reply to Jerome Marrow
    augmonizing's picture

    Jerome Marrow wrote:
    It is funny here that none of you can even disagree with my points and go on irrational rants about shit I never even said.

    My point(s):

    -PSU is not a target, meaning there is extremely little to no on campus recruiting for FO positions in IB or S&T.
    -It has relatively poor placement in finance compared to Ross and even UIndiana (perhaps even Wisconsin). This is related to above.
    -People that do end up making it into a good finance gig from PSU, if not already having some intangible (ie good D1 athlete) or a strong connection to the street, have to work much harder than those of equal status at a different school (like Ross or somewhere else).
    -There are nearly 6000 people at the undergrad business school--even if 10 or even 20 kids do make it into a FO high finance position (not true, but let's pretend that many did make it), that is quite poor placement relative to many other schools and those individuals likely would have made it from another more targeted school with substantially less hardship.

    If your goal is finance, choosing PSU is like running a 100m race, but setting your blocks up 5m behind everyone else. It doesn't mean the end of the race, but it is sure a substantial handicap.

    Your point(s):

    -Nothing intelligible

    In response to the 6,000 students in Smeal, the placement of students into high finance roles, is definitely not great, especially when compared to the likes of Ross. That being said, you also have to consider the number of students who actually WANT to work on Wall Street. As a student here, there are a good chunk of finance majors that do not even want to come close to Wall Street. The lifestyle, type of work, etc. is just not intriguing or appealing enough even given the pay. Finance is a controlled major at Penn State and only about 300-350 will even get into finance, based on a person's GPA in his/her first semester. Out of those 300, I would say anywhere from 30-50 actually want FO jobs on Wall St. and about 15-25 are actually qualified for those roles. This past year we had around 15 receive and accept full time offers in front office roles at BB's. That tremendously narrows down the field of applicants. If you can stand out, and simply based on the posters seeming determination, it seems as though he would work hard and get into that upper echelon.

    In terms of the amount of work you have to put in, do you have to put in a lot of work? Definitely, you are going to have to put in a lot of work no matter what school you go to. I can guarantee you the course workload at PSU is much less rigorous than at most targets (at least from my interaction with my many friends who have gone to targets and have had similar aspirations). This leaves a lot more time to get involved with other things, which is where you get the marginal education that the average Penn State student may not get, but that probably means he or she is not involved in the correct things to ensure placement onto Wall Street. Particularly in relation to kids in the honors college you knew that did not get a sniff from Wall St., getting involved in the right things and standing out are the most important things to landing a gig, my guess is that they just did not do that. With the lack of OCR, you have to talk to people to get noticed, but that is more than possible at PSU. I know plenty of kids in the honors college who have gotten great jobs on the street in the past few years.

    You do not need prior connections or be a D1 athlete to get into this category either. There are plenty of alumni at nearly every major bank willing to help out PSU students and will fight tooth and nail to help kids they like.

    In terms of the education I received here, I am not going to sit here and tell you that the classes here are extremely rigorous or can compare in anyway to what you will receive at a Wharton, NYU, MIT etc., but the things you do outside of class (getting involved in things like the PSIA and NLF) are what set us apart when we do interview against candidates from those schools. Some of the things I have learned here are above and beyond what some of my peers at some of those schools have received because of the things I got involved with. The best way I like to explain PSU and Smeal to people is that there is a world of opportunity here, no one is going to hand you anything (you can turn into a number very quickly), but if you work hard and seek opportunities in the things that you are interested in, especially if it is Wall St, PSU will provide adequate resources to allow you to do so.

    Slaving away 3 years of your life for the job like the one example you cited (I think I might even know who you are referring to here) is one case and not the experience of everyone here. Let's face it, if you want a job on Wall St, you are going to have to work hard no matter what school you are at, target or non target. So to me this is somewhat of a moot point. The people I know at targets, at least in my conversations with them, still seemed to work harder than me in most cases in relation to their classes, while kids here will work hard networking and getting involved with things outside the classroom to make up for the fact that we are not a target school.

    Recruiting wise, no we are not a target at many banks. We just became a target at GS and have had some placement at many BB's, maybe not 5 or 10 kids, but getting 1 or 2 people in places is a start. Like you said, it takes many years to become a target school. If alumni keep sticking their head out for the students here, hopefully we eventually be, but time will tell with that one. That being said there is definitely heightened interest with some of our students here at a couple of different BB's that we have not seen before.

    To sum up, PSU will offer the resources to gain placement onto Wall St. The recruiting may not be as robust, but you can definitely help control that situation here if you network, which is more than possible because we have placed enough people who are willing to help out in the past few years. In the end, it still comes down to the individual, if you are smart, work hard, know what you have to do to get a job on the street and people like you, your school will not be the biggest determinant of whether you land a FO job on Wall St. To the original poster, all else equal, go to UMich, but don't be discouraged in anyway in coming to PSU, should you decide to do so.

    Who knows, maybe everything I wrote here is discredited because I do not know the difference between a FO/MO/BO job on the Street....but last I checked many of my peers and I got FO jobs on Wall St very early in our senior years, much of which is due to everything I received here at PSU.

  • monty09's picture

    i dont care dude.. your in school.. i am in the real world.. schools dont mean shit.. my bonus is not determined by my college or how many of my peers work in finance. end of the day is this kid is focused and willing to work hard he will get a job in finance and be fine. the only exp i have with a ross grad that stands out is someone who lied about missing work only to catch a foul ball at the cubs/cards game... fired next morning and it was pretty funny.

  • gopadub's picture

    You wall streeters really like to quarrel. Haha well anyways I was wondering if my idea of doing an internship/ shadow/ training type thing with an investment bank in New York is a reasonable idea? I am willing to sacrfice some of my summer this year because I figure hey 3 summers are gone but ill be set the next 50 summers of my life when I work at a firm and doing the job I want. How should I network with them? just cold call? I am also asking the fishers future guy since he prolly has all the recruiting contacts. i figure wherever i go having that experience and contact will last a long time. Thanks a lot for the responses !! Lets keep them rolling in !!

    please answer this question I would appreciate it again thanks to all !!!!

  • In reply to monty09
    rufiolove's picture

    monty09 wrote:
    Jerome Marrow wrote:
    It is funny here that none of you can even disagree with my points and go on irrational rants about shit I never even said.

    My point(s):

    -PSU is not a target, meaning there is extremely little to no on campus recruiting for FO positions in IB or S&T.
    -It has relatively poor placement in finance compared to Ross and even UIndiana (perhaps even Wisconsin). This is related to above.
    -People that do end up making it into a good finance gig from PSU, if not already having some intangible (ie good D1 athlete) or a strong connection to the street, have to work much harder than those of equal status at a different school (like Ross or somewhere else).
    -There are nearly 6000 people at the undergrad business school--even if 10 or even 20 kids do make it into a FO high finance position (not true, but let's pretend that many did make it), that is quite poor placement relative to many other schools and those individuals likely would have made it from another more targeted school with substantially less hardship.

    If your goal is finance, choosing PSU is like running a 100m race, but setting your blocks up 5m behind everyone else. It doesn't mean the end of the race, but it is sure a substantial handicap.

    Your point(s):

    -Nothing intelligible

    every trader i know from penn st was an regular student with decent grades... no d1 sports ( I was and agree its a huge leg up) and most just made good grades and OCR... nothing special..

    my first job out of college was in chicago and I went to each of these schools for fresh analyst... none were that different..

    monty thanks for being a voice of reason on this thread... it's becoming increasingly clear that Jerome, here, is simply poorly informed... he clearly knows nothing about our OCR recruiting (which is in no way insubstantial) and just because there are 5800 students in our business school doesn't mean they are all finance majors

    We only accept 300 kids per year into the finance major at our b school so being that of the total program only 1 in 5 students is a finance major with only 300 per class per year and we place 30-40 plus per year into front office jobs on the street that means that if you get into the finance major at Smeal you have a 1 in 10 shot at getting a job on the street... I think the odds are fairly similar to what you would see many places after you consider that many students do not want street jobs...

    Bottom line, Jerome, virtually no one on this thread has derived any value from the blind (and unjustified) school bashing you've brought to the table, and all you've really done is present yourself as an insufferable jackass... certainly the original poster has not learned anything from what you've said... you don't even know anything about our school (by the way Jim Cramer visited our fund managers and paid us one of the highest compliments we ever could have hoped to receive http://wallst.smeal.psu.edu/nittany-lion-fund)... I guarantee you monty has a better job and more perspective on this issue than you have... you are literally too stupid to insult, and your analogies, like your candor, leave much to be desired... how about you tell everyone where you went to school and stop hating on a legitimate business program with strong placement...

  • In reply to TNA
    IlliniProgrammer's picture

    Anthony . wrote:
    Next time, act like an adult and address my error. Throwing out "non target" as if it is some sort of an insult is laughable. There are plenty of top schools that do not get IB recruiting. Even within top schools you can still be non target.

    +1.

    At a lot of firms, non-target is actually a bit of a compliment- assuming nobody with the same last name as you works at the firm.

    To the OP, all three schools that you mentioned are excellent flagship land grant schools, but I would lean towards Michigan-Ross, all things being equal. If PSU is in-state and you don't want to go into debt, I wouldn't rule it out either.

  • Jerome Marrow's picture

    LMAO

    Everybody.... STOP!

    Jim Motherfucking Cramer has put his stamp of approval on a fucking student run investment club..... End of discussion.

    Seriously, referencing him to validate your club... That should tell everybody here the value of a PSU finance education. I am not kidding.

  • In reply to Jerome Marrow
    happypantsmcgee's picture

    Jerome Marrow wrote:
    LMAO

    Everybody.... STOP!

    Jim Motherfucking Cramer has put his stamp of approval on a fucking student run investment club..... End of discussion.

    Seriously, referencing him to validate your club... That should tell everybody here the value of a PSU finance education. I am not kidding.

    Remember how you bitched and moaned because people "didn't read your post"? You took one fucking line out of rufio's straight up ownage of your pissy, whiny, choad stroking ass and used it to make a farcical and stupid joke. Jim Cramer worked at Goldman and did well enough that you (whiny bitch that you are) knows who he is. Why don't you just go the fuck away, you non contributing zero.

    If I had asked people what they wanted, they would have said faster horses - Henry Ford

  • Im with Busey's picture

    Listen, Penn State is what it is: a big state school with it's real claim to fame being the football team. Are there ups and downs to it? Absolutely. It's going to be harder to get to Wall St: you'll have to work your sack off to get a shot, but there are opportunities. You just need to work a little harder to prove yourself, and don't get it confused: you will be a number.

    Jerome is entitled to his opinion and it certainly has some merit: Penn State is a modest semi-target if anything, and that's the trade-off. At the same time, I'm happy I went there because once you've graduated, that's it, there's no going back. I've had some unbelievable times there, between the football, the parties, and nickel night at the Saloon, I would never trade those experiences for anything.

  • trade4size's picture

    "Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

Pages