NYU Stern vs BU SMG
So I just finished my freshman year at Boston University and I was recently accepted to NYU Stern as a transfer student. Now, Stern has been my dream school ever since I decided to pursue a business career. However, I get a scholarship from BU that covers the majority of my tuition costs, while Stern would force me to take loans worth about 30K per year for 3 more years. While Stern would provide me with more opportunities, the price tag on it weighs down on my decision. So I was wondering if others feel it is worth taking loans out in order to go to Stern?
This is a very personal decision. Instead of asking for help making the decision, figure out which questions you would need to answer before you can make that decision yourself and then ask those questions.
To echo what's been said, this is a hugely personal decision. Think about this with your family and circle of trusted advisers. The school will not get you the job - your hard work and working smart will.
Breaking Bankers http://chasingconsultantsbreakingbankers.blogspot.com/
Don't transfer
^^I completely agree with breakingbankers that this is a personal decision and that you should think about this with your family and circle of trusted advisers. However, you should also keep in mind that a great business school, like NYU stern, does provide more opportunities to attain the job than BU. This can be justified in terms of NYUs location (opportunity to intern while in school), the strong alumni base, and the sheer number of recruiters that actively recruit at NYU Stern that dont recuit at BU.
I'd stay at BU. You've already established yourself at BU and know all the in's and out's. Also, you'll bring the underdog mentality when time comes for recruiting season. If you work hard and network you'll do fine.
This is a really tough one.
BU's IB recruiting is nowhere near as strong as NYU. There was one large BB that recruited at BU and no longer does because they lost a senior sponsor. Look at your entire class at BU, and I would approximate at most 5 will get into a BB IB role.
However, $90k is a lot of money. Money in IB is no where as close to what it would be. There are much fewer jobs now. The economy can recover and more jobs will open up, but at Stern, you're not guaranteed an IB job, just a better chance of getting one. There are many stable jobs you can earn from your BU degree (mostly in accounting or consulting) that you can live a nice lifestyle and be happy. You can always go to business school afterwards and work in IB.
What about a job in the public sector? If you chose to work in the public sector or a non-profit after graduation, some of your student loans can be forgiven. If you chose the NYU route, you could use the public sector route as an option to repay loans if the IB route does not work out.
A few more things to think about: What is your GPA like? Would resetting your GPA at a new school help or hinder it? What is your involvement at BU, are you actively involved in many clubs? Do you plan to study abroad? BU has a great study abroad program with fantastic connections - however, these positions may be more limited in the current climate.
Call NYU fin aid and tell them this .. tell them you want to come but find it surprising that you received no financial aid and you want to attend but are not sure if you can afford it.
It might be a long shot but when I was a senior in high school I got BU to go from giving me $0 per year to a decent amount of fin aid. Ultimately I decided to not go with BU but it never hurts to try doing the same with NYU.
BU and any other boston schools outside of Harvard, and MIT are non targets. As much as i hate NYU i think its worth it. For one the internships and location are simply unparalleled. 2. 90k of debt may seem a lot but the networking possibilities and job prospects will be far better than what you would get from BU.
I transferred to Stern from Pre-Med. Stern will get you a job in finance, but be prepare to make serious sacrifices in your social life for the next 2 years (have fun senior year). Finance is empirical, given the location of Stern, the access will prepare you well for Wall St.
I have visited BU in the past. Socially, Stern will be a downgrade in terms of culture and people. A lot of Stern kids actually don't like each other. Maybe it's the competition, hostile environment, whatever the case it may be.
I graduated this May. I've had internships in S&T & IB, interviewed with PEs. Location definitely matters. I will be in Boston this weekend. If you have any questions, send me private message, I be happy to talk to you over the phone or in person (if you are in Boston).
Cheers,
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