I've been accepted to both schools. I didn't receive any financial aid at NYU, and my parents are willing to pay for $100K, leaving me to cover $150K through loans and jobs. My parents are fully capable of paying for the whole thing, but they want to see me contribute some.
I plan to major in finance, and I'm not sure about my exact career path yet. I'm thinking either consulting or top Asset Management, but sentencing myself to IBD is not out of the question. I also hope to pursue a top MBA within 5-7 years of graduating, hopefully at HBS or Wharton.
I have also been waitlisted at Cornell and Dartmouth, so please offer suggestions on these as well in the case that I am accepted into one of them.
Is NYU worth $150K debt in the long-run when compared to the opportunities I would have coming out of the University of Minnesota, especially when considering my hopes to get an MBA?
How does one even go about paying off this huge amount of debt?
Thanks!
Taking on $150k in debt to attend NYU is absolutely fucking bonkers.
This. Go Carlson, but you'd have a better chance of landing w/Piper, Lazard MM, Harris Williams, HLHZ, etc. than top asset mgmt or consulting spots. Not saying it is impossible, but Carlson feeds better into the MM IB groups.
They did send a girl to RBC IBD in NYC (she turned down HLHZ and a few others in town), but generally you won't end up in NYC from there.
I agree that your MM opps will be better than opps on either coast at Carlson. That said they do have some alumni on the street.
I'm usually a pretty big brand/prestige whore, too.
Even though it might place you better, $150k is a fucking stupid amount of money for college, especially when the alternative is $0.
go to carlson for 2 years and transfer to stern. happy medium. the recruiting opportunities are night and day but paying for 4 years of stern is dumb by any standard.
$150k in debt is absurd for undergrad business at Stern. Carlson places fine into MM IBD and has a handful of people go to MBB or Deloitte (as well as several lower tier firms). PM me if you want some more specific employment numbers.
jesus christ 150k, fuck that
If you go to carlson wanting to get into ibd your a fucking retard. It'd be like going to taco bell for a hamburger. All the actions out east or in san fran so try a school out there. Heck Rutgers or Pace would even give you a better shot.
Says the guy that has never worked in the field.
nope
now way dude. i wouldnt even do stern MBA for $100k
Go to Carlson and transfer. Or, if you're really set on it, go to Stern and graduate a semester or two early. It shouldn't be that difficult if you have a decent amount of AP credits.
It simply isn't worth it to take on $150k for undergrad.
Carlton is solid man. MM firms like HLHZ, Baird, Lazard MM are still very good places and can get you into Private Equity.
Carleton does not equal Carlson
Okay, so the overwhelming consensus is that Stern is not worth it in this situation.
Would Darmouth or Cornell be worth about $80K debt?
Also, is it possible (and by that I mean not incredibly difficult in comparison to Stern, as the IB gap would be) to pursue a career in top asset management, such as the one detailed in the thread "Life at a Top Asset Manager" with a UG finance major from Carlson?
I would take on $80k for Dartmouth.
Dartmouth and Cornell are both better schools than NYU, broadly speaking.
I'm never even heard of Carlson, so I wouldn't recommend that if you want to work in NYC.
Carlson is the business school at the University of Minnesota in the Twin Cities. It's fairly well-ranked, but I know this doesn't really mean much, since location, reputation, and alumni network mean much more.
Are most top asset management careers centered in NYC?
Dartmouth over Cornell. Cornell over NYU and Carlson. 80k in debt is worth it for Dartmouth and Cornell. 150k is absurd for NYU but you'll have way better chances to break into business than if you go to Carlson. But if you end up screwing up recruiting at NYU and land no jobs or less competitive jobs, you'll be really pissed about the debt. Not every NYU Stern kid is going to get a top IB job or whatever. Even at Harvard, there are people that strike out.
Were these really the only schools you applied to?? If you got wait listed at Cornell and Dartmouth, you probably have a good enough profile to get into a school somewhere between Cornell and NYU Stern in selectiveness. I'd maybe consider rocking your first year wherever you go and then transferring but that can be really shitty for your college experience.
These were the only schools I got into. I also got rejected by Wharton, Harvard, and Northwestern. I definitely should have applied to more match schools though.
Can anyone shed light on the difference in opportunities for top asset management at these schools?
I'm also interested in entrepreneurship. Is it possible, or even logical to start a business after college with that much loan debt? I don't have a specific idea or even an industry in mind yet, but it sounds interesting and I don't want to limit myself in that area yet.
can you appeal for more money from Stern? If you can get 10-15k more per year then that brings your debt to 90-110k if you choose to go. if you want to work in nyc ib thats pretty much your only option
People aren't noticing that you are taking $160K in loans and your parents are chipping in $100K (not scholarship or grant), so it's really $260K (with $100K coming out of your inheritance haha).
haha abacab I didn't think of it that way. Is it possible to start a business with that much debt, or would that just be dumb?
I got into Dartmouth earlier this week, but with the same financial situation: about $150K debt. I've committed to Carlson; is this still the best option?
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