Cornell w/$100k debt or UO full-ride for IBD
Hello WSO!
I am currently a Senior in HS that has been accepted to Cornell with minimal financial aid, and have also been accepted to the University of Oregon (state school), on a full ride. I am interested in exploring investment banking in the future, and want to know if it is worth it to go $100k into debt at a target knowing that I want to go into the field of finance one day. Any insight would be appreciated.
Thanks!
I would suggest going with Ivy school. It’s relatively easier to get interviews for internships/FT. Even after school for lateral moves up to associate level, I’ve overheard senior folks have the same first question before going into the interview - what school is he/she from?
I came from a non-target state school and it was very tough to break in.
Okay, I was leaning this way as well. Thanks for helping me out!
Your brand will follow you for a long time, especially if you haven't established yourself. Oregon isn't close to Wall Street. If you are aiming for a job in a lucrative field like finance, $100k in debt doesn't seem that bad. Take Cornell and run with it my guy
Okay, that's what I've been thinking as well. Appreciate the help man.
In the grand scheme of lifetime earnings, 100k isn’t that much. Getting into IB with UO is certainly possible, but is much more difficult than at an ivy which is a target at basically any bank. The connections you make in undergrad as well as the industry where many of your contacts went to the same school is invaluable as you’ll always have common ground. Taking the ivy offer seems like a no brainer to me
Yes, it's worth it. Just realize that you still have to work hard to get that IB position at an Ivy - the offer isn't going to fall into your lap. If you're uncomfortable with the debt, let serve as an extra source of motivation for recruiting and I'm sure you'll achieve a lot with that drive.
Please understand that going to an ivy league isn't a guarantee of an IB job. There are hundreds of kids at these ivy leagues that want the same exact position as you.
With that said, your chances will be significantly higher than if you went to UO
For sure. I go to a target and know a few people here that struck out during recruiting season for an SA position. Some of them were even diversity/SEO. It’s no guarantee that you’ll break-in but going w/ Cornell will greatly increase your chances of success.
Oregon
Just for my daily two cents, I’d suggest (completely personal and opinabile perception) you to go for the target and don’t look back. 100k can be a pretty tough burden (I know the feeling first hand), but as someone else said in a previous comment, a brand like that and the connections you can make are (un)fortunately something that will pay back. But I also agree with baloneymaloney: it isn’t a guarantee, but at least you have a decent shot at IB. Best of luck!
You're guaranteed an IB offer from one of the "lower tier" ivies if you put in the legwork (and debt will help your work ethic). The same can't be said of UO. You will also save considerably if you finish one semester early (and take a job before FT start date) + save diligently over two summers.
I wouldn't say guaranteed. It's really not as easy as some people in this forum say. I'd say 50%-60% of kids who want to do IB get the job if they put in the effort, but I've had friends with near perfect GPAs, memorized M&I, networked and sucked many associate dicks just to come out empty. This is coming from a "bottom ivy"
Target. The debt will make you grind even harder.
I agree with the sentiment that the debt may make you work harder, and an IB job out of cornell is definitely achievable if you keep working towards it whereas it would be an extremel uphill battle from UO.
Even from a strict expected ROI standpoint, the average lifetime earnings of an average cornell grad according to college factual are over 500k higher than those of average UO grads. There is some confounding though, as that probably has quite a bit to do with the caliber of the student and it isn't not completely attributable to the school itself, but the fact of the matter is that the network and brand name you would get from cornell is markedly above that of UO, which could lead to better outcomes regardless of career path. Might make that 100k pill easier to swallow.
Oregon
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