MSU Broad (IS) vs. IU Kelley (OOS) vs. UofM Economics (IS)
I am currently a high school senior and trying to decide between the three options listed above. I plan to major in finance and want the best chances at landing a good position at top firms after graduation. Along with this I want good internship and learning opportunities throughout college. As of now I am direct admit into IU Kelley and MSU Broad business schools but deffered from UofM LSA economics. Between me and my parents I can contribute a little under 25k each year towards tuition. Here are the estimated costs of each schools annual tuition.
MSU Broad: 25k
IU Kelley: 50k (waiting for scholarships to come back and potentially can get down to about 35-40k)
UofM: 30-35k
My question is, is Kelley worth the price for what it has to offer compared to MSU. Also, if I get into Michigan how does Kelley compare to UofM LSA economics and the job opportunity’s coming out of there. There is a small chance at UofM I could get accepted as a transfer into ROSS school of business after my first year which would obviously be my best option as that is also instate tuition but the odds are low.
What do you think my best option is?
Based on the most helpful WSO content, here's a breakdown of your options:
IU Kelley (OOS): Kelley is a strong choice for finance, especially with its Investment Banking Workshop (IBW) and robust alumni network. It is ranked as a top feeder into Wall Street jobs among public universities (#3 according to Bloomberg Businessweek). However, the cost is a significant factor. If you can bring the tuition down to $35-40k with scholarships, it becomes more competitive. Kelley offers structured programs like the IBW, which are faculty-run and highly merit-based, giving students a clear path to top finance roles.
UofM Economics (IS): While UofM's LSA Economics program is not as targeted for finance as Ross, the overall prestige of Michigan and its strong alumni network can still open doors. If you manage to transfer into Ross, it would be the best option overall due to its reputation and placement in top firms. However, the transfer is not guaranteed, and LSA Economics alone may not provide the same direct finance opportunities as Kelley.
MSU Broad (IS): Broad is a solid business school but does not have the same level of placement into top finance roles as Kelley or Ross. It is a more cost-effective option, but if your goal is to maximize opportunities in top finance firms, it may not be as competitive.
Recommendation:
Ultimately, Kelley offers the most structured path to finance roles, but UofM (with a Ross transfer) could surpass it if you can secure that opportunity.
Sources: Northwestern ECON vs IU Kelley vs Vanderbilt ECON, UMich Undergrad For IB Recruiting, https://www.wallstreetoasis.com/forum/school/psa-iu-kelley-for-high-school-prospectstransfer-students?customgpt=1, Is IU as good of as a undegrad school for Finance, or should I just go to Bentley, IU Kelley Prestige
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Honestly think the non-Ross vs. Ross delta is overstated. If finances allow, I would take UMich over both options (MSU because that any UMich program > MSU for recruiting, and Kelley because finances seem out of reach but also UMich still probably slightly takes the lead there). Then work your hardest and try to transfer into Ross, but don't sweat if it doesn't work out. Good luck!
Reach out to me - can put you in contact with kids at all 3 places
Here’s the take on MSU - In short, Michigan State’s reputation in high finance remains extremely limited. The Financial Markets Institute (FMI) maintains a small number of “pipeline-style” relationships, but these are concentrated almost entirely within Michigan and Chicago. A realistic summary of MSU’s junior-year and sophomore-year pipelines includes:
Junior Summer Pipeline Internships (Michigan-based) • Piper Sandler – Birmingham, MI (IB) • PMCF – Southfield, MI (IB) • Houlihan Lokey – Healthcare Chicago • William Blair – Chicago • Shore Capital – Chicago (Ishbia/MSU alumni, Analyst → VP)
Sophomore Pipeline / Boutique Internships (Michigan LMM) • Auxo Investment Partners (Grand Rapids) • Calder Capital (Grand Rapids) • Ottawa Private Capital (Grand Rapids) • Cascade Partners (Bloomfield Hills) • Charter Capital, Finnea, and similar boutiques
Outside of Michigan, MSU has minimal presence, with a small but steady trickle into Chicago and almost no stable NYC placement.
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FMI: What It Does Well — and Where It Falls Short
To be fair, FMI does offer several structured resources:
What FMI Provides (The Positives) • A rigorous 10-week finance bootcamp • Access to Wall Street Prep (WSP) courses • MBA-level classes • A business communication course • Corporate roadshows to Detroit, Chicago, and NYC • A structured cohort model and some staff support
These help build foundational knowledge.
Where FMI Falls Short (The Part Students Actually Experience) • Bootcamp materials are outdated and not aligned with modern IB technical interviews • Alumni network is extremely limited, and • Each cohort emails the same few analysts/associates • Bankers get 10–15 identical emails from MSU students in the same week • Responsiveness drops because of volume and lack of brand • FMI markets “100% placement,” but this is not reality • Students fail to place every year • Juniors still recruiting deep into the cycle • Seniors full-time recruiting into fall/spring • Some exit into non-finance or fallback roles
The resources exist, but brand, reach, and structural limitations outweigh them.
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Competitiveness & Placement Reality
This cycle, ~40+ students applied and 15 were accepted — not competitive compared to peer Big Ten finance programs.
Leadership turnover, weakened alumni engagement, and declining recruiting support have hurt the program. Despite the efforts of individual students, FMI is no longer delivering the consistency it once aimed for.
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Recent Notable Placements (Last 2–3 Years)
To its credit, FMI has had some standout wins: • PWP – NYC •
Jeffries - NYC • JPM - NYC . Goldman Sachs – PE NYC • Ares – DL NYC • BNP – NYC • Lincoln International – LA • Moelis – NYC • Deutsche Bank – NYC & Chicago
These are excellent placements — but they are individual exceptions, not a stable pipeline.
From my own recruiting experience across boutiques through NYC BB/MM / CHI BB/MM / LA BB/MM , many bankers had never heard of MSU’s IB program, highlighting the brand gap.
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Ross vs. MSU
It’s day and night.MSU = Titans / Pelicans.Ross = Patriots / Thunder.Not comparable for high-finance recruiting.
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Advice to Prospective MSU Students Considering High Finance
Bluntly:If your end goal is IB/PE/HF, Michigan State should not be your first choice.
If you are already attending or locked into MSU: • Join FMI, but keep expectations realistic • Recruiting is entirely self-driven — networking, prepping, outreach, city visits • Use FMI resources for foundation, then build the rest yourself • Secure early LMM/boutique experience to offset the brand disadvantage • Treat FMI as a tool, not a pipeline
There are success stories — but success at MSU happens despite the school, not because of it. Bi
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