I'm a freshman at a community college in suburban NY and am interested in pursuing a career in finance (IBD eventually to hedge funds or PE). My GPA is good and I have good extra curricular activities; however, I am not sure where to transfer. I want to major in economics at either NYU (non-Stern), Columbia, or Baruch. I'm not particularly worried about getting into NYU or Columbia; however, I would be getting zero financial help from my parents and am wondering if it's worth the near 6 figure debt.
This is why I'm considering Baruch. I know Baruch isn't a target school but being that I'm from Westchester, I know many people who have had successful careers in finance. For example, one of my closest friend's mom worked at both MS and GS. She recently started a healthcare consulting firm on Wall Street and met with president Trump last week at the White House to discuss healthcare policy and the economy. I also have dated girl's who's parents work at MS and I generally know a lot of people in the industry. A close family friend of mine went to Baruch and got her MBA at Stern and said she would personally mentor me if I were to go to Baruch.
So would Baruch be worth it being that I know people and would get an affordable education? Or would you recommend that I just bite the bullet and take out the school loans.
Go with your original decision. You seem like a very-well connected person, so even though banks do recruit as target schools, I think you will have enough opportunities without having to break the bank. I wish I was you for that very reason haha. let me know if you have any other/comments questions.
Not sure if I agree with this.
Most IB recruiters and bankers are inundated with resumes, and unfortunately, they often rely on school, GPA, and what you studied to screen out candidates to interview. People are lazy and use these items as short-hand to assess intelligence / potential despite being a horribly inaccurate measure of either. The truth is the middle-of-the-pack Wharton student is more likely to get a look than the top student at a non-target school, but there is no way for recruiters / bankers to efficiently find the top student at a non-target.
The one big caveat to the above is if you have a strong personal connection to someone in a hiring position at an IB. If you can get a first round interview and are lucky to have someone who isn't going to judge you by your alma mater, you will have a good shot.
If I were you I would go for NYU / Columbia. If you are serious about finance, although the cost / student debt seems significant now, you will be able to pay it back with 1-2 Associate bonuses.
For consideration: * Your full transcript will show you transferred from CC to a four-year university. This is hardly a deal-breaker, but it is something you'll need to explain. A transfer to NYU or especially Columbia (and solid GPA thereafter) adds prestige that makes your starting point less relevant. * Are your connections to Baruch alumni really only valuable if you go to Baruch? Maybe you won't get as much personal mentoring from this close family friend, but is she not going to pick up the phone if you call for some advice during recruiting? Your existing network has fallen into your lap. With a little work, you can build your own at any school you attend. Which alumni network do you want to be a part of? * Your degree follows you beyond your first job. Want to get a competitive MBA? Columbia or NYU might make that easier.
The above is just food for thought. The $$ is no small thing, not to mention considering where you'll be happiest for the next three years. Ultimately, a prestigious degree helps but the differentiating factor in your success will be you. That family friend who started her own consultancy? No school will teach you to have an entrepreneurial drive. Those types find a way to be successful, Ivy League or not.