Hi guys, I'm currently a UM econ major. I applied to transfer for my junior year and got into upenn CAS econ. Im applying again to ross bba at Umich and would have to stay an extra year if I got in. Assuming I gain admission to ross, I need some advice as to which school I should attend if I want the best chances of landing an IB analyst position. (at a major bank like GS JP Morgan UBS etc)
Thanks!
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Penn hands down even if it is CAS
Thanks for the input! Could you walk me through your reasoning masterg
If they give you good financial aid, Penn. Why spend money on an extra year of school at Ross? Also, I'm not a big believer in the importance of prestige, but why not take an Ivy League brand if it is available? NYC is also extremely accessible from Philly which will make networking easier, and its OCR is still great even though it isn't Wharton.
Penn has amazing career opportunities, a supportive and powerful alumni network, great school spirit, etc. I could go on forever. Philadelphia is a blast and great city to live in. I think you would regret turning down Penn in the future from both a personal and career perspective.
Michigan/Ross has amazing career opportunities, a supportive and powerful alumni network, great school spirit, etc. I could go on forever. Ann Arbor is a blast and a great city to live in. I think you would regret turning down Michigan from both a personal and career perspective.
Gee - funny how that works.
I would only consider Penn CAS if you were absolutely confident that you could transfer into Wharton after your freshmen year. If not I would go for Ross BBA.
I think people are under-estimating the placement for Ross at the undergrad level - they really place lights out. Yes Penn does still have the Ivy League brand cachet but in terms of placement I would argue Ross BBA has it better, where you will be viewed as the creme of the crop of UMich as a whole, rather than constantly be in the shadows of Wharton.
This just doesn't make any sense. Would you be able to provide any numbers to clarify besides "they really place lights out"? I'm not being sarcastic, I would genuinely like to know if they do place really well. I tend to distrust hyperbole, especially on this website where it often feels like finding factual information is akin to panning for Gold in California in 2007.
Let's run some numbers real quick. If he transfers to Ross he is going to have to do an extra year. If OP is not a Michigan resident that one year alone will cost him $42,000 for out of state tuition and fees, plus $10,000 for room and board. Then there is the opportunity cost of one year lost work. Assuming he hits his target of breaking into a BB in NYC, it could range anywhere from 100-160k, not including the knock on effect of entering a fixed promotion system a year late. What would have been his second year where he could have made 110-170k is now his first where he is earning 100-160k. I know everyone is convinced that they are destined to be the next Carl Icahn or Jamie Dimon, but 200k is not a rounding error, it is an enormous amount of money.
Are you really saying that what UMichigan can offer him education and career wise is really worth 150-212K? Additionally, if he is in Ross, everyone and their mother will be gunning for IBD positions, while if he were at Penn there are plenty of kids who have no interest in it. The idea that the rest of the college is overshadowed by Wharton seems a little strange to me too. Banks look for smart, driven people, not just finance guru's. I would also imagine that Wharton recruiting is done seperately from CAS recruiting (although I am not sure, someone from Penn might be able to clarify) so he would be in a smaller competition pool with people from other lib arts majors looking to break in. Hell, if OP wanted to he could probably study English at Penn and do fine in recruiting. Banks take kids who major in history and philosophy and shit from Ivy's, however if you go to a place like UMichigan you are damned if you don't go to Ross. I would imagine that Ross places "lights out" in the same manner that NYU places "lights out." Yes, it gets people into IBD, but the percentage of people who want banking vs who actually get it is very small there compared to any one of the Ivy's. Would you recommend that someone spend an extra year (and six figures) so they could go to Stern at NYU instead of Columbia? It just doesn't make sense.
I don't really have a dog in this fight, I didn't attend either school, but the idea that OP should potentially lose 200k to go to a lesser ranked state school in cold ass Michigan just seems nonsensical, and I am one of the first people to admit prestige is overrated. For what it's worth, where it the other way around and OP had to spend an extra year at Penn (and the associated opportunity and tuition costs that come with it) I would tell them to go to Ross in a heartbeat.
Congratulations on your offer to Penn CAS! I'm a student at NYU Stern and I also applied to UMich & Penn as a transfer student. Accepted into Ross but not Wharton. Agree with Cayo275 on the point of Ross isn't worth the additional year--time wise or financially.
I'd recommend Penn CAS, speaking from my experience at NYU. NYU has the same bschool/CAS divide as Penn. Do some students look down on CAS Econ or view students in the program as Stern rejects? Yes, but who gives a fuck? Students aren't making the hiring decisions.
Biggest thing that matters for firms is GPA and personality. If you have the latter, the curve is CAS is generally more forgiving than Stern/Wharton which makes it easier to maintain a higher GPA. You'll probably get ask in every interview "why aren't you in Stern/Wharton if you want to do finance" and you can give a BS answer along the line of your interest in finance developed organically over your undergraduate career, enjoyed previous exposure to economics in high school, wanted to get an understanding of markets in a global context, etc.
Sure, firms have a standing relationship with Stern and partner with clubs to host on campus events but these are open to the whole NYU community as is OCR. Firm presentations are also open to the whole campus. I'd assume this is the same for Penn (but you should call their career services and confirm).
I'd also recommend you do two things:
1) reach out to the general recruiting email for the firms your interested in. Mention you're a rising junior and transfer student to Penn and that you'd like to get in touch with the IBD recruiter and learn about the recruiting process and timeline for the school and include your resume. This way you'll have an HR contact going forward
2) Network with alumni--it's fine to reach out to Wharton contacts, but I would concentrate on CAS grads on the street. These alums will be more inclined to help you as they were once in your shoes competing again Wharton students.
It's always easier through the traditional path of undergrad bschool to finance, but that doesn't been it's impossible through other avenues. Through my own networking and interviews, I've come across NYU grads on the street the were in CAS, Gallatin, and Tisch. If you're willing to put in the extra work, you'll end up where you want to be regardless of what program you're in.
Whenever some discussion about Penn CAS and Ross has come up on this site, the majority of posters have said that both programs are relatively equal. Thus, why spend an extra year at Ross when you can finish up your economics degree at Penn?
I'd like to add that interests can change fairly quickly when you are younger and you want your college to open the most doors in the future. OP I'd go with Penn CAS over Ross in my personal opinion just in case you are interested in MBB/Tech. Also, IB is still relatively attainable from Penn CAS.
I'd like to add that interests can change fairly quickly when you are younger and you want your college to open the most doors in the future. OP I'd go with Penn CAS over Ross in my personal opinion just in case you are interested in MBB/Tech. Also, IB is still relatively attainable from Penn CAS.
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