USC full ride vs Wharton basically full price
hey guys been a lurker here all throughout high school and now it’s time to make my big college decision. i’m blessed to have gotten in to USC (Marshall) with a full ride scholarship, as well as Wharton paying basically full price. wanting to work somehwere in high finance, what’s my best bet. (I wouldn’t need loans for wharton but price is still a consideration).
Wharton - this is not even a question.
I'd take the full-ride to USC. As long as you maintain over a 3.5 GPA you'll get interviews at all the same banks. Not to mention a much more enjoyable college experience in LA.
This is inherently untrue. All things being equal, would rather give an interview to a Wharton kid vs. a USC kid, especially for a NY office. It's just a way to screen candidates, with all the pros and cons that entails (which is subject to another discussion).
yeah I mean the level of work you need to put is completely different. and this coming from someone who went to a non target before transferring to a target. also above a 3.5? really? that should be gpa recommendations at targets, add at least .2 for being a non target. in my opinion (I think for NYC / non west coast) you have to be a top 25-top5 student to be considered for IB jobs (top 1-5% awards , gpa, placement in stock pitch competitions, etc). but this is my perspective as an outsider and lumping them in with other non targets that have some placement (umiami, penn state, random competitive lib arts like McKenna). this is how I look @ resumes, is this wrong? would be happy to change assumptions but I’m not in IB so doesn’t really matter. I went to a non target too so I like to think I’m nicer than others / know how easy or hard it is to stand out.
I made the exact same decision back in high school. USC trustee (full ride) vs. Wharton (full price, no financial aid).
The way I made my decision back then (and if I had to do it all over again, I would think about it the exact same way): Pick Wharton as the default. Then scale back your decision based on ability to pay and opportunity cost. (Can your family afford it? What are you giving up?)
The reason why Wharton should be the default starting point of your decision should be self-evident based on the time you spent on WSO.
You'll get laid at USC
Take my advice with a grain of salt. I went to probably one of the worst schools in the PAC-12 and still got into a top 3 TMT group at a BB. USC is miles ahead of my school in terms of academics and IB recruiting infrastructure. At USC, you can absolutely get into IB if you work hard. Yes, it will be significantly harder than Wharton, but very doable. If money is not at all an issue, then just go Wharton. But if it is in the slightest, just go to USC and work your ass off.
I think people on this forum discount the value of leaving undergrad with no debt. If your parents can easily cover the cost of Wharton by either paying out of pocket or taking out a very small loan, I would go with Wharton. In all other scenarios, take the scholarship at Marshall.
Take the money
Depends on what you want to do. If you're diehard NY, Wharton will do you much better. Wharton places literally everywhere on the Street. USC also places in NY but they don't do as well as they do on the West Coast. They send a few people, and it's doable, but will take some extra work/networking. If you want to do West Coast IB then take USC. They do very well in terms of West Coast recruiting and you'll be fine there.
Unless you want to do West Coast IB, I think the only thing you should be asking yourself is about the cost. You said you wouldn't need loans, so I'm assuming your parents can afford to pay for it. If 80k a year isn't a dent in their income and it's not big deal, just go for Wharton. You'll be at the best place you can be for IB recruitment, get the ivy league branding, etc. If 80k is affordable but they'll have to sacrifice a lot for it and you feel bad, take USC.
Some questions for you:
-Where do you want to live long term? -What experience do you think you'd enjoy more? -What type of Alumni experience do you want to have? By that I mean, college is 4 years but you'll be an Alumni for the rest of your life. What group do you think you'd fit into more? -$250k (or whatever full freight at Wharton is) is a lot of money for anyone. Can your parents truly afford this or does this materially set them back? If they can truly afford it, would there be a way for you to tap this money in the future (i.e. additional schooling (mba, law school, etc.), can they put it in a savings or trust for you to use in the future, would this be earmarked for a down payment on your first home?) . People would view your situation differently if the cost to you was equal or if you were diluting some future inheritance by going to Wharton. -Do you have a network at either school already that would materially increase or decrease the quality of your experience?
Personally, I'd go to USC for free, enjoy life out west and never look back. Congratulations on your acceptance to both schools. I'm sure it feels like a huge decision, but no matter what way you go it'll all work out for the best. Good luck!
thanks for all the comments and advice guys, think i’m shipping it to wharton and not looking back
To the poster, pm me, and I wouldn't mind hoping on a call with you for 15 min to help you with the decision.
If you want to work in high finance, you should use the principles of finance to inform your decision. USC is a top school and you were given a full ride scholarship.
Besides the opportunities available to the top 5% of Wharton grads (select buy side opportunities - even then I could make an argument getting your teeth cut at BB IB job is better for you long term most of the time ), most of the same finance jobs will be available to you at USC if you put in an modicum amount of effort. They may be slanted towards west coast but a little bit of networking can certainly ensure you get to the east coast as well.
If the cost truly doesn't matter (i.e. $240k is like spending $5 for you family), I could see an argument for Wharton. However, why would you not seize the opportunity to go to a top school like USC for free? You could end up at the same place as a top 30-40 percentile Wharton grad, come out $200k richer, and have an easier time competing for a spot as a full scholarship wielding USC grad vs. Wharton kids battling it out with each other. You have to keep in mind not everyone in Wharton that wants IB gets IB (even though there are more spots vs USC) - it's very competitive at any undergrad school and you are competing against people breathing finance from middle school.
The value of that $240k you saved if you started investing at age 20 at 7% market returns (the past 10 year bull run in equities saw higher than this but past performance as you know is not a indicator of future performance) is:
At age 30: ~$470k At age 40: ~$930k At age 50: ~$1.8m At age 60: ~3.6m
If you truly crush it in finance and make it to the top, these numbers can look like rounding errors to you but it's certainly nothing to sneeze at either.
delete
If I’m reading your post correctly, you’re rich. So go to the better school.
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