Michigan LSA economics major Vs. Vanderbilt CAS Economics Major

Dear people with financial knowledge,

I ask for your help in making a crucial life decision. I was accepted into Michigan Literature Science and the Arts (economics major) and into Vanderbilt College of Arts and Science (economics major) as a transfer student for my sophomore year. After college, I would like to go into investment banking or private equity. My main question is WHAT SCHOOL HAS MORE PULL ON WALL STREET? Although I do not know exactly what I want to do, I want to pick the school that will give me better opportunities in the northeast. (Tuition is a non-factor).

Michigan LSA
Pros:
+some banks recruit
+national reputation and international reputation
+++amazing alumni network
+I was informed that I could take Ross school of business classes even though I am NOT in Ross
Cons:
-I was not accepted into Ross! I don't think I will try to transfer because I want to live in the present and enjoy my college experience
-I am worried that not being in Ross will put me at a major disadvantage. Some people have told me it
really matters, while some people have told me it doesn't.
-It's a state school which makes it seem less elite relative to a private school

Vanderbilt CAS
Pros:
+More selective school
+Arguably more prestigious
+Top banks recruit at Vandy
+As it gets better, it continues to garner a national reputation
Cons:
-Arguably does not have the same national reputation as Michigan
-Smaller alumni network
-Although considered the "gem of the south", I'm worried it's more of a regional school and won't be respected in New York like it is in the South

Bottom Line: Will recruiters respect me more if I have a degree from Michigan LSA or from Vanderbilt CAS?

Any help would be appreciated.

 

"I was not accepted into Ross! I don't think I will try to transfer because I want to live in the present and enjoy my college experience"

So you're asking advice for making a "crucial life decision", and yet you're preoccupied with living in the moment like a basic white chick. Give me a break. If you were transferring as a junior I'd say Vandy but since your a sophomore I would say transfer to Michigan and then apply to Ross. Assuming you get Ross by junior year, you're set.

 
Best Response

Being in Ross really matters. I have many friends who were econ majors at Mich and the jobs that they got right out of college were truly not impressive, let alone IB jobs. This is opposed to my friends who graduated from Ross with IB analyst jobs at Goldman, JPM, Lazard, Houlihan, Morgan Stanley, etc (NY & Chicago offices). If you look up the list of companies who recruit at the Ross career fairs, all BB and Elite Boutique banks attend. I am not sure if you can get into these career fairs if you are not in Ross, this would be prudent for you to research. However keep in mind, even if you are able to gain access to these career fairs, you are going to be at an extreme disadvantage to the Ross kids who are at the career fair.

If you are interested in consulting, MBB recruits at all their career fairs as well.

in my honest opinion I think Michigan is a better school than Vanderbilt if you want to go into investment banking. However if you do choose to go to U of M, it is going to be difficult for you to land a BB or elite boutique job right out of college without transferring into Ross first.

Hope this helps and good luck to you.

The fool thinks himself to be a wise man, while the wise man thinks himself to be a fool.
 

Here's my perspective on Michigan: I have friends in banking who were in the liberal arts college and I have friends in banking that were in Ross , and while it's not too big of a deal, it definitely matters. If you're a top student studying economics and you do everything that you are supposed (such as networking), you will get interviews. But in Ross, however, the process is much more streamlined and even mediocre students land interviews.

I think that if you know you want to do investment banking, you probably should apply to Ross (after all, why make it more difficult?). Ross is a self-selecting group -- the people most interested in investment banking at Michigan are in Ross, so therefore most Michigan kids you meet on the Street will be from Ross. Economics is more heterogeneous group with very diverse career interests. Some people are more quantitatively minded who had other career goals and therefore never applied to the B-School, and some people are straight Ross rejects. The people in the latter category don't end up doing that well, but people in the former category that decided to later pursue finance usually ended up fine. My friends that were economics majors went to the corporate presentations like everyone else, made sure to follow-up with everyone they talked to, and through that were able to net interviews. They had to work a bit harder and do more of the leg-work themselves, but it ended up working out for them (we are talking BBs and top advisory firms)

So being in LSA is not the end of the world, but if you still have the option I would apply to Ross to avoid the extra hassle.

In regards to your decision, Vanderbilt and Michigan are very different schools, so where you feel most comfortable should play a factor. The nice thing about Michigan though is that most recruiting is from NY so you're not really focusing on regional offices.

 

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