50.000€ Loan for Bocconi University - Is It Worth It?
Hey,
I've got a big decision on my plate and could use some advice. I'm planning to start my Bachelors at Bocconi University next year, and with the disappearance of merit scholarships, I find myself wondering whether I will be able to cover 16.500€ per year tuition fees.
I'm curious to hear from those of you who might have taken out loans to cover the costs of Bocconi's bachelor program. What's your experience been like, and do you think it's a worthwhile investment? With the absence of scholarships, I'm weighing the pros and cons of financing my education this way. Are the potential career salaries post-graduation (like working in IB, PE, other finance-related fields) worth the financial commitment, and how realistic is it to pay off the loan once I've completed my studies?
Looking forward to hearing your thoughts - any advice would be greatly appreciated. :)
P.S. I'm aware of the new Bocconi need-based scholarships that check on the family's economic situation. However, if I don't get one when applying, opting for a loan seems to be the only choice to fund my studies.
P.S.S. I am planning to study in BIEM/BIEF programs and then start working in finance.
I believe that's worth it. But I don't know if the rest of the expenses are included. I think in that case (great university )you are really less likely to not get hired for a good position if you continue to work hard like you sound you do.
My vote is yes!!
Let's see others
I would advise you against taking such a high loan. At the end of the day it is still a huge gamble whether you will get a good job or not. IB jobs in Milan predominantly go to Italian speaking students, so internationals have to apply to London. Maybe 10-15% of Bocconi students get one of your desired jobs and many only do so after also going through a MSc program which would set you back another 30k. I you want to study in Europe why not look at unis in the Netherlands, Germany or Sweden? They also have target unis and you can study there for free with similarly international cohorts.
At the end of the day, recruiting has a huge luck component to it which you can only compensate via skills to a certain extent. Think about the consequences of not getting the desired high paying job after uni. Then you are stranded with -50k in debt (additionally, rent is super expensive in Milan) and with a regular job, it would probably take you about 3-5 years to pay that back.
Going to study at a Dutch or German target is much more sensible. Maybe also consider Switzerland (although there they have some fees - very low though).
Agree, it's not worth it if € 50k is a huge amount of money to you.
In Europe it's very common to do a master's degree before IB, I could go to some similar level uni with cheap tuition fees -> aim for LSE/LBS (these are the only target schools for English speakers)
LSE/LBS costs 2x as much than Bocconi for internationals, tho.
I agree that universities in the Netherlands, like UvA and RSM, are reputable, but I'm skeptical about whether they offer similar opportunities for landing jobs in IB or similar high-paying finance fields. From what I've gathered, Bocconi seems to provide a stronger pathway to these fields if you follow the right steps (network, apply for internships, get good grades). Bocconi has long been regarded as one of Europe's top econ schools and is definitely more affordable than universities in the UK, where I'd otherwise require a loan of around ~€100k. Therefore, I believe that financially-wise it's the best option among the Europe's target schools.
Given my background as a non-Italian speaker from Eastern Europe, my post-Bocconi options would likely include moving to London, Switzerland, or my home country, rather than staying in Italy. Moreover, considering the possibility of securing a mid-level job and repaying a €50k loan over 3-5 years doesn't seem overly burdensome. Either way, thank you for your insights, and if I'm way off base, feel free to give me a gentle nudge back to reality!
you can do a master after RSM in london for example
Dude, many of my friends are studying at Bocconi at the moment as internationals. 90% of the people they send to London are Italians as for them the network effects are strong and help them with recruiting. They get hired because they have a great skill set, but also because people like to be around people like themselves so Italian analysts, associates and VPs actively push Italian applications. They told me that the vast majority of internationals goes back to work in their home countries after getting the degree (yes, also the people from Eastern Europe), and I think that you are probably familiar that the IB landscape in Hungary or Romania is pretty much not existing. Poland maybe as a last resort, but that is it. One argument here might be that many of the internationals are German or Swiss and they have great IB options in their countries, but to emphasise again, the majority of students at Bocconi does not make it to London (same goes for any other uni) and of those that make it, the majority is Italian. Percentage wise RSM, Maastricht and HSG in Switzerland offer you the exact same chances and cost way less.
You mentioned that you want to potentially go to Switzerland as well. Then, you should be aware that Swiss companies must provide a justification why no native Swiss person can do the job they want to hire you as an international for. The Swiss labour market has a big issue of inherent discrimination. There as well, the majority of foreigners hired speaks fluent German so is either from Germany, Austria, Liechtenstein or Luxembourg. But if you still want to try and enter there, going to HSG, UZH or ETH greatly increases your chances over any foreign unis.
Also, why do you ask the forum, if you already seem set about spending so much money? Do you feel a bit guilty and just want justification? You should not base your decision on some random comments in an online forum or some rumours you may have picked up on Reddit. Talk to the official teams organising the programme at each uni, look up placement on LinkedIn premium and try to speak to some actual students of the programmes that you consider. Of course having to save 3-5 years does not sound so bad now, but not being able to go on a proper vacation whilst working full time is pretty miserable. 50k is a lot of money, so choose wisely.
In my opinion, if you want to play the lottery to get into London, either pay money to study in the UK (they have the best placement) or study for free at good European uni (they have the same chance of getting in as Bocconi does). You should not pay huge amounts to study in Europe if you do not already come from a background that could afford it.
What are your other options? RSM, HSG or SSE are good ones
My alternatives to Bocconi are UvA and RSM in Netherlands.
RSM is better ;)
Go with RSM. Great school, and if you do well you can take a loan for a top-tier masters (LSE, LBS, Oxford, HEC, even Bocconi) which will be far greater than just the bachelor.
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