UIUC or DePaul for accounting/finance?
I'm currently a junior at UIUC college of business. This is my first semester here as I am a transfer student. I'm from Chicago and so far adjusting to UIUC and the small/college town life has been very difficult and I really just don't like it here. I thought about transferring to DePaul seeing as though I already got accepted into their accounting program with a very nice scholarship and aid package that would make tuition less than UIUC.
I know that UIUC is the best in Illinois for finance and accounting(I'm currently majoring in finance), but how far behind is DePaul? I know it seems silly and stupid to consider going from UIUC college of business to DePaul, but I feel like I'd be able to study better at DePaul, get higher grades, and be in a location that suites me better. If I were to get a 3.9GPA at DePaul would that be as good as getting a 3.5 at UIUC in terms of internship and job prospects? I want to go into consulting or commcerial banking when I graduate. Do you think doing very well academically at DePaul could get me there?
You'll definitely be at a disadvantage in terms of on campus recruitment at DePaul as it's not a target by most firms. However, if you intend to get into commercial / corporate banking or some boutique consulting shop you'll definitely be able to to do that. If you really intend on transferring I'd suggest making it into the honors programs for accounting and finance there and double majoring. Additionally, make sure to have as many internships as you can throughout the year. The single best benefit of being at DePaul in the city is that you will be able to have internships year round. That will help differentiate you and while it wont replace the UIUC name it makes a big difference for your resume.
DePaul is well known in Chicago and you'd be surprised were some alums ended up. In terms of banking, BMO and and few others with big presence in Chicago actively recruit on campus for corporate / commercial banking.
Thank you. Does that mean that you think UIUC is so far ahead of DePaul that there's no way I can make it up by doing incrediably academically and getting decent internships?
Not necessarily, it all depends on your networking and hustle. UIUC just opens more doors in terms of recruitment and has a bigger alum network. Everything others mentioned applies.
I actually went to DePaul and double majored in Accounting/ Finance in the honors programs. The honors program for both majors is pretty good as it's only 30 or so people each year and you take classes with the same people every quarter which definitely helps with the college experience and future networking. In finance particular there were some people older than 25 with unique backgrounds.
From my finance cohort there were people who went to S&T at BBs, IB at boutiques, Corporate banking at MM and BB, prop trading, fortune 100 corporate finance, consulting / valuation at Big 4 /FTI type of variety. I'm currently at MM lev fin shop. So it all depends on how heavily you invest in internships and networking.
I know a girl who went to DePaul and got her first IBD internship at a solid MM shop (off season, winter and spring), then went on to work FT at a lower tier BB. It can be done, but it is just challenging.
First off congrats on the offers. If you are trying to go into Big4 Accounting (Tax, Audit, Assurance, excluding Advisory) NIU & DePaul are great schools for their prices.
UIUC has another completely different level of recruiting. You can go into Big4 Advisory, IBanking, Consulting, Corp Finance, etc. You just have many more options from UIUC in comparison from DePaul.
Also, UIUC is going to give you a way better time on campus than DePaul.
Thanks. So advisory at a Big 4 or corporate finance isn't possible at DePaul even if I crush it academically and get decent internships?
The campus experience doesn't really apply to me anymore I think because I'm an older student(22), some things happened that were out of my control that caused me to start college a year late.
You absolutely can do either of those, I know a number of IBD and corp fin/advisory guys at DePaul. It is substantially harder and you need to crush your interviews and understand that even networking will be harder. UIUC is objectively the better school, and DePaul functions almost as a commuter school. It will be easier coming from UIUC for both advisory or corporate finance. I would say it all comes down to how unhappy you are at UIUC.
Recent DePaul alumn here.
Much of the things I would say have already been iterated here. But one thing I would like to emphasize is that although UIUC may have a better network, being located in the heart of the city is priceless. Other than being able to say you live in Chicago, your proximity to the Chicago offices of some of the biggest firms is a great asset. While in undergrad, I was able to grab coffees with people from JPM, HL, etc between classes.
Also, I know at least one person in every Big 4's Advisory practice. Unlikely to find a DePaul alum at MBB, but they're around at some tier-2 firms like Accenture. If commercial banking is your cup of tea, JPM and BAML recruit at DePaul, as well as some other regional banks.
Awesome, thanks. That's good to hear that you know someone in advisory at the Big 4. So there's hope for me to get into consulting of some sort with a DePaul degree? Also, the school being in the city is a major attraction for me, it's like a 20 minute commute from my house and I'm very social and enjoy taking to recruiters and other people at these companies. I mean in 3 weeks at UIUC I've attended every function and the recruiters seemed to like talking with me more than the other students.
For what it's worth, I ended up in a front office role at a nice MM firm out of DePaul with a pretty bad GPA. It's doable, just depends on your hustle. A bunch of my classmates ended up with decent jobs as well.
Ton of great professors at DePaul, and most work full-time or have good connections. Being in the city is priceless as well, for internships (year-round) and networking. I went to both UIUC and DePaul, and I'd take DePaul of the two, but the key is, you get out what you put in.
Thanks. Did you transfer to DePaul from UIUC? Also, what was your major? Yes, being downtown would be a major attraction for me, for the networking and yearround internships. I actually spoke to several recruiters at UIUC that said they had a very hard time filling winter internships.
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