Penn State vs Fordham vs Indiana Bloomington
Hi,
I am a high school senior that got accepted into Smeal, Gabelli and Kelley direct. My goal is to work in IB, but I know it’s not 100% realistic.
My dilemma is which of these schools I should go to, if any. I am out of state for all, from Miami. (Got denied from UF like 99% of my school)
The cost of attendances for the 3 schools are as following:
Fordham: $63,878
Indiana: $58,506
Penn State: $53,560
I just can’t tell if these schools and their business programs are worth these prices. It would be paid only from a single parent income, (~80k) and an entry level job id get upon moving.
To me it seems like going to Indiana has the highest potential of me breaking in, but it’s dependent on getting into the IBW, and if I don’t then I have almost no chance. From what I’ve read at least.
I also gotten into Baruch, which costs around 20k. Just has a very very low chance of breaking in from what I see.
I know that transferring exists, but from what I see it seems to be even more selective than getting admitted normally, and I would be test optional for all schools. I know I just might not even break in due to not getting an internship if I do transfer.
I would really appreciate some advice on what I should do, and if it’s really worth paying this much for these schools.
Based on the most helpful WSO content, here's what you need to consider:
Indiana University (Kelley School of Business): Kelley is widely regarded as the strongest option among the three for breaking into Investment Banking (IB), primarily due to its Investment Banking Workshop (IBW). However, as you mentioned, admission to the IBW is competitive, and not getting in significantly reduces your chances of breaking into IB. If you’re confident in your ability to network, maintain a high GPA, and secure a spot in the IBW, Kelley could be worth the investment. That said, the cost is high, and given your family’s financial situation, this is a critical factor to weigh.
Fordham University (Gabelli School of Business): Fordham’s proximity to New York City is its biggest advantage. Being in NYC allows for easier access to networking opportunities, internships, and events. However, Fordham’s placement into IB is not as strong as Kelley’s IBW. If you’re proactive and take full advantage of the location, you could still make it work, but the cost is the highest among your options, which might not justify the return on investment.
Penn State (Smeal College of Business): Smeal has a solid reputation, but its IB placement is weaker compared to Kelley and Fordham. While it’s the least expensive of the three, it still represents a significant financial burden, especially given your family’s income. Breaking into IB from Smeal would require exceptional networking and effort.
Baruch College: Baruch is a cost-effective option, and its location in NYC provides access to networking opportunities. However, as you noted, breaking into IB from Baruch is challenging due to its lower placement rate. That said, if you’re highly motivated and can leverage the NYC location effectively, it could be a viable option without the heavy financial strain.
Recommendations:
Ultimately, the decision comes down to your confidence in excelling at Kelley and your family’s financial situation. If the financial burden is too great, Baruch might be the most practical choice, even if it requires extra effort to break into IB.
Sources: Booth vs. Columbia for MBA, Undergrad School OPTIONS (please help), MBA Costs $500,000 -- Worth It?, Stanford vs Wharton vs Booth vs Columbia for PE, Received offers from all three MBB firms and don't know what to do
Go to Kelly, don’t transfer as the recruit for their workshops early. Their workshops is basically an auto offer to IB and they pump way above their weight.
could be wrong so if anyone from IU wants to chime in feel free too, but non IBW break in just fine into IB if thats your ultimate goal — just not top groups. IBW gets u similar placements to what a kid from an ivy would get to put it into an analogy. i still would take IU over the other 2 given even if i wasnt going to be in IBW. but then again u could also break into IB just fine w PSU or Fordham (again — just not top top groups, maybe if ur super lucky)
Workshop certainly isn’t Ivy status. But there are around 40 (guranteed) seats available to them that most kids would be happy to have, but places like EVR Rx and Q will never pickup the phone.
Non IBW - superdayed at one and had chats at both. We don’t have enough of a presence at both for IBW to make a difference.
Just have a good resume and don’t chud out. Three letters on your resume doesn’t mean shit if you’re genuinely competent.
Listen to poster above. Choose Kelley and don't look back. Getting into their IBW instantly grants u "high semi-target" status (some people even say target lol). However getting into IBW is pretty difficult from what I've heard, so if u do choose that route be prepared for tha grind. I downloaded a Kelley IBW guide a while back, mostly bc I was bored/wanted to see what it was like, and I'd be happy to share it w u aswl
Transferring is also an option but definetly significantly more workload for your freshman year if your sending ~10 apps to target schools that accept 1st year transfers somewhat decently. It'd probably be wise to extend your grad by 1 semester via double major/minor/1 yr masters program for club apps + building on campus connections if you do decide to do that route though.
Ok thank you. I’m leaning towards this as well. I’d love to get that guide :)
Choose IU but I'd be wary, the IBW is extremely difficult to get into and its a highly political process as well. Consider your personality as well, Penn State might be the more fun option while still giving you great placement opportunity
Are these cost of attendances annual? Also did you get into FSU?
I think this forum is a bit too debt happy. It’s either (i) a bunch of prospects advising either other or (ii) selectivity bias as the ones who didn’t make it no longer post on the forum.
I basically got the same advice to take the best school regardless of cost from this forum 8 years ago and thankfully ended up going to my state school since my grades were shit, or the debt would’ve sucked even with an IB job.
Choose Kelley if you’re really confident you can do it, but otherwise I’d recommend going in-state and transferring to a better school for that cost. $60k a year for Kelley isn’t worth it with an $80k a year HHI if you ask me.
I didn’t get into FSU unfortunately, due to test mandatory and being right on the cusp. Thanks for the advice I do see what you’re saying.
Did you apply to FIU? Ik a couple guys from there, not as developed but imagine it would be super cheap
As someone who goes to IU and landed a solid offer without the IBW I can offer some color. I would 100% choose IU as they have better placements then PSU or Fordham. The IBW used to accept 60-70 kids and has expanded to 100 this year, with next year increasing to ~150. So the odds of getting it are much higher. While you may think this dilutes recruiting, understand that IU has placed ~150 kids over the last few years with this year projecting more. The process to get in has also gotten way less political compared to previous years. If you do not get in, it definitely makes it harder, but you can absolutely still land an offer. I know several non-IBW who had superdays and/or got offers at prestigious firms. I can also pm you to provide more context if you want.
That would be great. I'm currently a Freshman going into the process later this year, if you're open to talking I'd really appreciate your advice
Lol none of the above
Breaking into IB from these 3 schools is very doable if you do the right things and get involved. IU has IBW & PSU has the NLF, both great organizations that will be among the main reasons you place on the street. If you prefer the city, go to Fordham over IU & PSU. If you want a more traditional college life, then choose between PSU & IU. From what I've heard, IU is more cutthroat, and as everyone said, to place really well, you have to be in the IBW. PSU has the NLF (Nittany Lion Fund), which has been around for ~20 years and has placed kids on Wall Street every year. IBW seems more like a recruitment club than one with a different focus, so be wary of how much it will help you beyond landing you an interview. Transferring isn't the smartest; you can break into top-BBs or EB from any of the three schools.
Least obvious NLF shill, congrats on GS!
Lol I see the bias; not personally NLF but one of my close high school friends was debating between IU & PSU a few years back and ended up choosing PSU.
Easy choice IU- IBW is not that hard to break into. If you don’t get in you are probaly not cut out for the industry (IQ or personality lacking) as a whole or made some weird outlier mistake. To put into perspective they took 100 kids this year and around 80 have signed so far. Easily the best school for having the most fun (yes more fun than any other school besides Bama, FSU etc) and breaking into top IB roles. Take this with a grain of salt coming from someone a few years post grad who was in Greek life & IBW might be different now.
looking back if you want to place IB AND have fun, IU is the best school in the country hands down. Keep in mind if you don’t join Greek life I’d say Penn State is more enjoyable social wise as there is a big gap in the social ladder at IU- at least there was when I went
Yeah I’m probably not going to be in Greek life so this is good to know, thanks
Especially on a single parent salary none of these options are worth it imo. I would strongly recommend going the cheapest route possible and transferring to UF or even somewhere else and doing an MSF. Will be cheaper and position you better. Don’t underestimate the importance of minimizing student loans.
No advice on your question(s), however, how did you decide you wanted to do IB so early in your life? Genuinely curious.
Cost of attendance is annual or over 4 years?
annual unfortunately
Thanks to the help from everyone here, my top pick is IU. Between Penn and Fordham, is there significant difference in placement, prestige etc? I need to decide which of the two to visit over spring break. Can also visit Baruch if I visit Fordham.
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