UW-Madison Business School OR UMN Carlson School of Management OR target school?
Introduction/background: Hi! I'm a senior in high school currently applying to colleges and interested in majoring in finance. Through dual enrollment courses, I will accumulate approximately 60 college credits that are guaranteed to be transferred if I go to a college that is either in-state or has tuition reciprocity. The two best business schools that I can get my credits transferred to are the Carlson School of Management (UMN) and the Wisconsin School of Business (UW-Madison), neither of which are target schools. Also, judging from my HS statistics, I think I can get accepted to both of these schools and maybe a few target schools).
My questions: Should I save money and complete undergrad early by going to either UMN/UW or should I go to a target school and rely on the return on investment? If you recommend that I should choose either UMN or UW, which of these two schools will give me more valuable career experience opportunities? I was also thinking that if I do go to either UMN/UW, (by focusing on getting good grades, ECs, internships, competitions, etc) I can get into a target school for my masters.
Any advice on what is best for me financially and career-wise is much appreciated. Thank you in advance!
Target if you can afford it > Wisconsin > Minnesota
Well, I will operate under the assumption that you are interested in IB analyst roles. If that is your #1 goal, target is probably the right way to go. You also need to get into your target schools first.
That being said, you will still have a shot at IB analyst roles at UofM/UW. Plenty of Big Ten grads in IB--I've seen Northwestern (duh), Michigan, Wisconsin, Minnesota, Illinois, MSU, Iowa, etc. (though maybe not yet Nebraska...).
I went to one of those two schools for undergrad, but did not major in finance (I later went on to MBA-->IB). Brand name companies (i.e. Fortune 100) line up at career fairs to hire their graduates. If you are considering working, then getting an MBA and going for IB, you should get one of these brand names on your resume ASAP. This will help with getting into B-school and also getting a banking job. The absolute last thing you want coming from a non-target school is for someone to pick up your resume and go, "I don't know this person and I've never heard of that company," because then your resume likely goes in the trash...
Best of luck with your applications! Rest assured, if you end up at Minnesota or Wisconsin you can still get to IB.
Thank you so much for your reply! Since it is fairly early for me to make a solid career decision, I'm still exploring and deciding on what job I want to pursue in finance. Even though IB sounds like a good option for me, does going to a target school matter if you do not intend to do IB? Is going to a target school good for anyone who intends to major in finance?
Where is IU? They have a better business school and placement than every single one of those schools you just listed besides NW and U of M.
Big Ten business schools usually go:
1. Northwestern
2. Michigan
3. Indiana
4. Illinois/Wisconsin (Rutgers?)
5. PSU/OSU/Minnesota
6. MSU/Iowa
7. Nebraska
Yup, IU belongs there. I can't disagree with your rankings, but it's worth clarifying that Northwestern doesn't have an undergraduate business school.
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