Is 100-150k debt from a semi target worth it? How likely is it to make six figures first year out of college?

High school senior here, deciding on colleges. Is 100-150k of debt from a semi target school like boston college, unc, usc, uva, umich, berkley etc. worth it? My others option would be texas AM or Fordham with no debt.

I'm not sure if i will want to do ib my first year out of college but i'm sure i want to work in some part of finance, and hope to narrow that down in college.If i apply myself at college, what is the likelihood i to make six figures my first year? Thank you.

Unrelated, but i'm applying to nyu and boston college. Both colleges have the option of applying early but its binding. Nyu is better than bc but also harder to get into. Bc would still be good, j not as good as nyu, so theres more of a chance i get in bc and i'd be paying almost the same price at both schools. So my question is which one should i apply early at (cant do both its binding) bc for a greater chance of getting in or nyu with a lower chance of getting in. Thank you.

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Comments (20)

Oct 12, 2021 - 10:22am

It depends on what your alternatives are (likely not worth it if you could go to a decent state school like Florida for free, probably worth it if the alternative is bad and would still require 60k of debt, for example). Keep in mind that there are very few non-IB finance opportunities out of undergrad that pay 6 figures in year one. 

  • Prospect in IB-M&A
Oct 12, 2021 - 12:58pm

Berkeley is a target for west coast banking if I'm not mistaken. And if you get into Ross at umich, I think placement into IB is very good. Not too sure about the others but have heard decent things about uva (assuming you're in their business school).

In my personal opinion, 150k debt is not worth taking out for any school except maybe like H/W/S. It'll be hard at a non/target but you see people successfully recruit all the time.

  • Associate 3 in IB-M&A
Oct 12, 2021 - 1:18pm

Second this. I'd also put Fordham well above A&M unless you are interested in Houston. It's not a target school by any means but there is tremendous value to being in NYC and able to have coffee chats in person or an internship during the semester.

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  • Prospect in IB - Gen
Oct 14, 2021 - 5:25am

Can confirm Berkeley is a West Coast target. Places more kids into SF/tech banking than any other school. Strong placement/recruiting every year into large top groups like GS TMT and MS Menlo and also resume drops/OCR smaller specialized groups like Qatalyst, Centerview SF, HL LA RX, etc,. 

  • Intern in AM - Equities
Oct 13, 2021 - 3:48pm

go to texas AM or Fordham for free and rack up some pocket money to rush a frat or study abroad, those will be way more memorable experiences rather than getting more interviews at investment banks. 

  • Intern in IB - Gen
Oct 14, 2021 - 11:29am

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