UF vs Cornell
I narrowed down my college options to two: University of Florida (Finance major) or Cornell (Hotel school acceptance). I received essentially a full ride scholarship to UF and will need to pay around 65k (full price) a year for Cornell. I like both schools pretty equally (weather, distance from home, etc) but was wondering which school would set me up for success in the Investment Banking recruitment process my sophomore year in college. I'm pretty set on IB but would still like the opportunity to explore other majors and careers.
I know the MSF program at UF is good (competitive and there were some iffy things I’ve heard about the application process) but Cornell is a lot more prestigious and was wondering which one you guys would recommend?
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My parents said they’ll pay for it, but it is a lot of money so I am a bit worried about putting that much financial stress on me and my family.
UF grad here. Plenty of friends went through MsF and all placed well (JPM, EVR, JEF off the top of my head). That said, think this is a hard coin flip for me. I loved my time at UF and thoroughly enjoyed being in the SEC and all that comes with it. I think given that you're aware of the MsF process from the jump, it tips my hand slightly in favor of UF (although I am probably biased). I just cant stomach the marginal upside from Cornell given the nearly ~$300K in cost. This is also coming from someone who had a full ride to UF and was in a similar situation.
Thank you for sharing your insight, I saw some of the student profiles on the MsF website and the placements look good. However, I heard the program is really competitive to get into, so do non-MsF students at UF still have spots during IB recruiting?
Yes, but like any other school you'll have to put in a lot of effort to network and make connections that the program normally would provide. If you end up taking UF, PM me and I'd be happy to introduce you to some friends who went through the program to get more color because I did not.
A full ride to UF is tough to turn down imo. Keep your grades up, get in with the right crowd and you’ll be fine.
Going to an SEC school will be a good time.
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This is probably the worst advice from a quality of life perspective. You will have spent a year building a friend group that you’ll leave behind, only to go build another friend group (even harder as a second year when people already have their people) in a whole new place. Your credits might not transfer, you will be at a disadvantage recruiting for student investment funds, to say nothing of there being zero guarantee you get into a school better than UF. Pick a school and stick to it unless it’s really, really killing you to go there. It’s not like you’re choosing between the 500th ranked school and the 5th ranked school. Wall Street is very doable from both, but it’ll be easier at Cornell.
Chose Cornell over my state school for half the amount of money more. Recruiting is insanely easy out of Cornell. Plenty of kids majoring in a "studies" major who go into IB as well.
But, there is so much about a 300k cost savings + the 100% guarantee that college will be infinitely more lit at UF.
If your parents were going to pay, maybe ask if they would give you your college fund as cash so you can invest if they already had it.
The decision here is whether you think the UF lifestyle will outweigh the opportunity cost of going to Cornell.
Go to UF, no brainer. The marginal benefit of going to Cornell for better IB recruiting is not worth $250k+. Also its way much fun in Florida. If you can, use the money for investments/fun/traveling and you'll do fine recruiting if you focus.
UF
It’s easy to say “just go to your local state school for free and grind for IB for the highest ROI” but it’s so much harder in practice. Ask anyone who went to a non-target. Cornell is one of the most represented schools on Wall Street whereas I honestly haven’t met anyone from UF and I did my analyst stint at one of the larger BBs with a healthy amount of non-targets. I checked the Peakframeworks list and it doesn’t seem like UF is listed.
Think long and hard about whether you and your family can afford it. If you can’t afford it, then go to UF and try your best to break in but understand that you may have to settle for a different career (not the end of the world, you may enjoy said career more than IB). If you can afford it, I’d say that Cornell offers a meaningful bump in ease of recruiting but also branding and network. Lots of my non-target coworkers and friends ended up getting MBAs because they found that their networks were lacking. You’re less likely to need an MBA coming from Cornell since you’ll already have a decent and sizable network. MBAs are a huge cost sink later in your career that you can potential avoid if you go to a strong undergrad (coming from experience, I just lost a huge chunk of money getting my MBA).
UF class of 24’ and 25’ are placing in BX, Goldman, MS (although a very very small minority), while most placements are within banks along the lines of WF/RBC/Gugg/stifel. MSF actually doesnt help with recruiting, MSF starts in your junior year and recruiting for these jobs is in spring of your sophomore year. Maybe EFE (the program you do in your freshman year if you want to do MSF) helps a little bit with the basics but not much.
To be honest, go to UF, get a 4.0 in your freshman year and sophomore fall, get into the founders fund or gsif in your first or second semester, be perfect at the technicals and have a good story, and network. If you are diversity it will be much easier though.
Besides, UF is going to be MUCH more fun. After you get the junior internship in your sophomore spring you will have 2 years left to “relax” and you will definitely want to be at UF.
How do WF/RBC/Guggenheim/Stifel recruiting processes differ from BX/Goldman/MS/EVR? Is it seen to be easier to get into the former (without MSF, etc) versus the latter? I have heard about founders fund or GSIF, do non-members still manage to place well on the street or is it mainly reserved for members of that org? Thank you for the insights.
What is the general vibe amongst students who are recruiting for IB at UF? Is it kind of competitive/stressful environment or more collaborative/supportive?
From the people I know, the ones that got MFPE or GS/MS/EVR are all diversity AND gsif/ff, + many also have connections via family/close individuals. I dont know if students outside that “environment” place in the other IBs tbh (the average UF finance major that just goes to class and maybe joins some other orgs I would say ends up in corp fin or PB/WM in Miami).
Definitely easier to place in RBC/WF/RJ etc especially in the nearer offices like charlotte and Tampa.
I would say the environment is pretty supportive, there’s not really a lot of “hardos” (compared to people I met from Ivy league schools) and everyone supports each other. As with every college, there may be some people that are not this way but its not the norm.
Definitely stressful for the fact that you are at a non-target and need to put extra effort, but IMO we have really great resources and I often found myself more knowledgeable about actual finance knowledge compared to some people I know at more prestigious school (combination of having a finance program + having to work harder probably). The problem is most people outside of this sphere of the funds, MSF, etc. dont really know what IB is until like junior year, seen that happen a lot.
Cornell if IB is your goal it will be easier there. But even if you switch thr degree at Cornell will be worth more. Your network will also be better there.
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