Fordham versus UMD banking and overall experience
Hi! I'm a high school senior who has been accepted to University of Maryland College Park at the Smith business school and Fordham Gabelli at Rose Hill. I understand both are truly non-targets. I like the city and want to experience what that is like. I am interested in Banking but not dead-set on it because of the hours- I'd prefer to be more entrepreneurial. UMD is in-state and would cost $27k and Fordham would cost $50k.
Any difference with opportunity, and what will be a better experiences? Thanks.
I also was accepted to:
UVA: $75k
Penn State: $55k
Georgia: $45k
SMU: $50k
Do you mind sharing your stats
4.5 Weighted, 3.94 UW.
IB student, school president, small state and national business awards. Business club leadership, some local government involvement. Did summer business camp where I started a small startup, also helped my mom with her business. Went test optional and stated race as asian.
same money and go umd maybe transfer later
I'd take Maryland.
Although Fordham may be ~slightly better for IB due to location, but that difference (if any) doesn't justify $100k. Maryland is a great school and the people I know who go there have loved the experience thus far. If you're focused on IB you're just gonna have to network hard. I don't think UVA is worth the cost in this case unless your parents are willing to help substantially.
And yes Fordham is in NYC, but you could get the best of both worlds- do 4 years of DC for college, then get a finance job in NYC post undergrad.
Thanks, these are good points.
I've been completing quite a bit of research into UVA and am realizing its a larger target than I initially understood. I think I've put Fordham to the side for now and am between UVA and UMD now.
I feel that I resonate with the student life/culture and student body at UVA more, and it does have quite decent recruiting prospects. However, I am trying to put the cost in perspective. My parents would be willing to help pay for it, but it does have to be worth it (I would probably arrange so I owe them 100-150k back).
Regardless of where I go, do you think I would need to get an MBA down the line. Moreover, how many years of job climbing would it take from Maryland to reach what I would get right out of Virginia? If I could go to UVA and not need a MBA down the line, then it is a lot easier to justify. I probably won't stay in IB forever, and would want to exit to PE/a job with more reasonable balance, or start my own business. Finally, say I do attend UVA, if I were to not pursue banking, would I readily be able to pick up another role and make a decent salary.
In total UMD would cost $109,000 and UVA $320,000. Will I make return greater than $210,000 with a UVA degree?
Finally, how would the alumni and friends I meet, make a difference, I assume I would be better connected/around more successful individuals and families at UVA.
This might be a lot but it's all the topics I've been weighing over the past couple days. Of course, let me know if I am forgetting to take something into account.
Thanks for your response.
$100-$150k is a LOT of money to pay back. Especially because you might not land the top finance gig, you might land the job and get laid off, etc... Plus, do you want the stress of all those loans affecting your undergrad experience?
A lot can happen. I think you're better off saving money, going to UMD, and potentially taking out loans to go to a top 15 MBA program. If you got into UVA undergrad out of state, you should be able to get into a solid MBA program.
If you're dead set on IB, it's gonna be tough coming from UMD. But it's a huge risk, especially because you're not dead-set on IB due to the hours. If you go to UVA and take out the 100k, you basically have to do IB for a few years just to pay that off.
What about going to UMD for two years and then transferring to UVA? While scouring for scholarships/grants that can bring the cost down. Who knows you may end up liking UMD and staying.
I thought about that, or even elsewhere. But, UVA recruiting happens during Sophomore year. And while I could transfer after one year I would miss out on joining clubs and somewhat a network/presence. Not to mention I would have to get accepted. If anything I could do the opposite, if I don't end up banking I could transfer out.
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