Worth paying for Oxford
Hy guys, I am just 17, but got to the Interview stage for Oxford PPE and now have to consider whether I would accept an offer or not. I am Austrian and would therefore pay £40k a year just for tuition, no scholarships available. My parents cannot afford to pay this easily but we also wouldn't really be eligible for financial aid. My alternative would be a German Uni like Mannheim, HSG, which would be far less known internationally, but with no tuition fees. I am keen on starting my career in London, but it seems like the wages in Frankfurt or Switzerland might actually be better. Any advice on what to do? Would prefer Oxford, but don't want to finish my undergrad with £150k in debt. Thanks very much in advance
Based on the most helpful WSO content, here's what you need to consider:
Oxford's Prestige and Career Impact: Oxford PPE is a globally recognized program, especially in fields like finance, consulting, and policymaking. Its alumni network and brand can open doors in London and beyond. However, the £150k debt is significant and could weigh heavily on your financial freedom post-graduation.
German/Swiss Universities: Schools like Mannheim and HSG (St. Gallen) are excellent choices, particularly for finance and economics. HSG, in particular, has a strong reputation in Europe and places well in Switzerland and Germany, with opportunities to pivot to London. The lack of tuition fees makes this a financially safer option.
London vs. Frankfurt/Switzerland: While London offers unparalleled opportunities in finance, Frankfurt and Switzerland (Zurich, Geneva) often provide higher net wages due to lower taxes and cost of living. HSG's strong brand in these regions could position you well for lucrative roles.
Debt Considerations: Starting your career with £150k in debt could limit your options, especially if you aim for roles with lower starting salaries or want to pursue further education (e.g., MBA). On the other hand, graduating debt-free from a German/Swiss university gives you more flexibility.
Recommendation: If your ultimate goal is London, Oxford's brand could give you a significant edge, but only if you're confident in securing a high-paying role to manage the debt. If you're open to starting in Frankfurt or Switzerland and potentially transitioning to London later, HSG or Mannheim are excellent, cost-effective alternatives. Weigh the financial burden against the career benefits carefully.
Sources: Germany Sucks, Is target MSc Finance still possible in my situation? (Bocconi, HEC, LSE, HSG....), https://www.wallstreetoasis.com/forum/school/master-in-finance-hec-paris-vs-bocconi-vs-st-gallen?customgpt=1, 3.9 GPA from an Ivy League school in a useless major. What are my options?, Target schools outside of the US?
Bump
Depends if you really want to work in the UK or maybe US. If you don't mind spending your career in DACH then go for one of the top local unis. Zurich (CH in General) is unmatched in terms of comp and quality of life imo.
TOTALLY OXFORD PPE yes for sure
get the offer first lil bro, u'll have more than enough time to decide after that. Answer is prob yes if your parents are willing to chip in.
"my parents cannot afford to pay"
Your poor reading comprehension is just one of the reasons why you're in corp dev.
No if youre plan is to return to your german speaking lands
As someone who faced a similar dillemma a year after UK abandoned the home fee status for EU students and decided to study at LSE regardless, I would probably advise you to go for HSG or Mannheim. They will set you up well for DACH IB / PE / Consulting, or even London as there's still great need for german-speaking bankers and PE analysts. If you feel the need / desire for an Oxbridge degree, you can always go for masters and it will still be cheaper all in all.
Also keep in mind that the quality of life in London is not what it used to be and in a lot of cases you might be better off in Frankfurt or Zurich, depending on the career path you decide to follow.
As an Austrian who also turned down an offer from Oxbridge, I’d really encourage you to think this through carefully before making such a big decision. I don’t know your financial situation, but for most middle-class Austrians—or international students in general—the UK has become a much less attractive option post-Brexit, especially with the sky-high fees, even at places like Oxbridge or LSE.
At 17, your career goals are likely to shift a lot over the next few years. Unless you’re absolutely set on working in investment banking or finance in London, a UK undergrad might not be worth the cost. And even then, there’s no guarantee it will pay off. Who knows? You might lose interest in IB after your first internship (you wouldn’t be the first).
If you’re planning to come back to the continent, you’ll probably need a master’s degree anyway. In my experience, employers tend to care more about your latest qualification than your bachelor’s—especially in the German-speaking world, where the obsession with which university you attended is far less intense compared to the UK.
Financially, studying at Mannheim and doing internships in Frankfurt or Zürich makes much more sense. You’ll save at least some money and still have the chance to aim for a “prestigious” master’s later at places like HSG, LBS, LSE, Oxbridge, Bocconi, or others.
In a nutshell: I würds ma guad überlegen.
Edit (what I forgot to add): Since you’re Austrian (and I’m assuming male, about to finish high school), one possible path could be to apply for admission now and then request a deferral. From my own experience, Oxford is quite open about this. During the deferral period, you could complete your mandatory Military or Civil Service (BH/Zivildienst) and use that time to explore funding opportunities while also giving yourself more time to think through your options.
First of all, congrats on the progress of the application to Oxford. Great job!
I think I can say a little bit on this topic given that I studied at Oxbridge. The counter-position on these institutions would be that they are nowhere as impressive on the inside as one might think from the outside. When sitting in a lecture you would be hard pressed to differentiate between Oxbridge and "universities two ranks below". The tutorial system and the college way are actual benefits. However, they are probably overdone as an advantage. There are great people you can meet there but there are not >50% very smart people but rather 5% very smart people. A good book by Caplan (possibly a great prep for the interview) would be "The Case Against Education" and it argues that ~80% of the value on a university degree is signalling and only 20% actual learning. Obviously, signaling is beneficial in such a soft realm as banking, consulting and whatever else but I would be extremely cautious to fall into the trap of only focusing on this and paying any price for tuition.
Generally, I would assume that you dont aspire to pursue a career in a corporate. Hence, I would suggest that similar to the work you would do in banking, consulting or whatever else you just set up an excel. You then estimate the costs 40*3 + 3*12 + 5 (misc) + x. Then look at the interest rate you would get and how the debt would grow. On the other side, look at your presumed career and the earning potential and what you are able to save in London (doing PPE and going to FRA would be weird, never seen that). You might be able to save 2k a month but is this really worth it if you are so financially strained that you cant do anything. In doubt, just ask ChatGPT. My assumption would be that it would take quite long (you dont need a lot of math for that tbh).
The best advice I would have liked back at 17 would be: the university you go to is important and you should aim high but its not the most important factor. Its a bit like money, its not that important if you have it and its almost everything if you dont. Even if you have it its nothing you brag about on your 40th birthday. I always had that strange feeling that the people who focused and boasted most about going to Oxford were the guys who had the least right to do so. It simply becomes not that important if you actually earn it over there and beyond. You should rather focus on learning besides the classroom be it reading Kotkin on Stalin or Rosenbaum on banking. Think harder about what you want to do with your life & why and consider if you want to force yourself down some road in 3+ years just to pay off the debt.
Wishing you all the best for the future and the upcoming interview! Hope this is helpful.
(Excuse the name just to respond quickly)
Spaces bro????
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