Ross or LSA Economics
I would like to get into investment banking i am currently a rising junior transfer student. I would really like to enter Ross but it would add an extra 3 semesters to my college career.
My options
- I can graduate with an BA Economics degree in 4 semesters
- I can graduate with an BBA Ross & possible double major or minor in economics in 7 semesters
Which option would you choose is staying extra 3 semesters in Ross gonna put be in better placement for Investment banking or would just staying with economics be okay. I also intend get an MBA from a top school later...
also last note i am 21 years old so i was at my other University for 3 years. so essentially it would take me 6.5 years (25 yrs old) finish Ross degree or 5 years(23) for the Econ.
Just so you know, it's almost impossible to transfer into Ross. The transfer acceptance rate is something like 1%. Are you a Michigan resident? There are other schools you can transfer to and have a better shot at recruiting vs. LSA w/ an Econ major.
I'm already @ UMich in LSA school but i will be applying regular admission and the acceptance rate is around 30%
It's possible to get in from LSA but very difficult because you will get little/no OCR. If you think you are capable of doing it (networking, previous IB internships, getting good grades, sneaking into Ross events, etc.) then by all means go for LSA. On the other hand, getting into Ross will significantly improve your prospects due to OCR.
@Brutalglide so you think the extra 3 semesters of schooling would be worth it in the long run ?
Speaking as an LSA econ student, don't do it. Recruiting was bloody miserable. Lost of my much-smarter-than-b-school friends got wrecked.
@canas15 can you elaborate are you saying do econ ? or do the b school ? & why ?
It depends on your own experience / ability. If you think you can land some relevant IB internships and pound the pavement in networking, go for LSA. If you want the security / luxury of OCR, go for Ross. Looking at some of my friends, I know kids who did both routes. Some LSA kids never ended up getting into IB while their peers in Ross, despite taking a year longer to graduate ended up with a BB job.
Keep in mind that, 3 semesters = at least 1 year FT experience. Even if you end up in LSA, and don't end up with BB IB but end up with some random boutique/MM bank (or even something else related like ER or Big 4), with 1 year FT IB experience, you'll have a decent shot lateraling into a top MM or maybe even a BB. Not to mention you'll save a lot more money...
@brutalglide thanks for response yes that was what i was thinking i'm hoping i can land a big internship this summer if not & i'm able to enter Ross i definitely think i will take the option. i'm trying not get wrapped up in the prestige of the school either but i really like saying i went to Ross then saying i did Econ Lol but i know both routes are excellent springboards for my career.
A BBA & major/minor in economics is pretty redundant, do something interesting or impressive like math. Ross inflates your GPA, one reason why recruiting through Ross is a lot easier. From your standpoint I doubt they'll even consider you into Ross with how long you've been around, they tend to go for freshman/pre-admits. Even sophomores have a tough time getting in and you would be the equivalent of a senior.
@sirbarney Well if i'm admitted i may consider doing another minor but only minor i'm interested in is computer science which require many classes i havent taken. With regards to Ross i still feel i would be a strong applicant and i would have tried to directly transfer but the transfer rate is 1% so they advise students to transfer to LSA then Ross so if they don't consider me its weird that they would say most students enter Ross as transfer LSA then Ross & i don't mind i'm senior because i feel the program is great i also may be able to Minor in Business through Ross ? does anyone feel that would be helpful ?
Seems like you haven't really read up on Ross much. Ross requires a minimum 3 years (although technically you can get away with 2.5) to complete. Additionally, you cannot complete it faster as certain required courses are only offered during certain semesters. Also, there is no such thing as a minor in business through Ross. SirBarney is correct in saying that most students are freshman/pre-admits and they rarely accept sophomores. Technically speaking, they say they will consider anyone, but I imagine it will be very difficult to get accepted as a junior/senior (even if you are willing to graduate way later than normal).
@BrutalGlide they actually are considering of making a Minor in Business through Ross in the next year or so. & if i'm not admitted i still will be happy with an Economics degree.
i also can take 20 credits in Ross anyways since i have you take 20 non-lsa credits & you currently can finish Ross in 2.5 since strategy is the last class you need in winter but they may change it to 3 years :(
Just so you fully understand, the Ross program isn't that amazing education wise. It's really just a name and OCR. Yes the minor doesn't exist as of now, and I doubt that they will allow it because Ross is very egotistic for lack of a better word.
I'm not saying that you being a senior and doing Ross is a bad idea, I'm saying that as a senior Ross won't want to accept you. It's just how they are.
@SirBarney That's what i like about the school the name to me it's up their with the best it's not as good as Wharton or Dyson In my opinion but it's my best opportunity for an elite business school and since i'm in state not as expensive as compared to ivy & out state 40k. with that being said only time will tell and i will keep everyone updated in next year what happens if i get into Ross great if not i will be happy doing Economics and taking classes through Ross as a minor or just taking classes. I hope your wrong about Ego because i actually have a few friends that entered as sophomores they both were URM's though.
What I was trying to say about the name is that the education you get taught at Ross compared to the econ you get taught at LSA isn't something amazing. People apply to Ross for the OCR.
Also, I am 100% right about the ego thing. Sorry to say, but most of the students become arrogant as soon as they get admitted. They feel they're better than the rest of the university because they see themselves as elite all of a sudden. The staff also is incredibly useless to non-Ross students. Almost to the point where it seems that they go out of their way just to avoid anybody who's not in Ross. Obviously there's the exceptions though.
Thanks for the Tip !! i was trying find the quote button & yes i understand there are some elitist but many people are like that anywhere Harvard , Yale , Princeton etc. I also intend to get an MBA so if i'm not admitted i will try get into an elite program ivy or stanford. The job placement is way better in MBA programs 100k plus bonuses compared to Ross 60k plus bonuses. So i don't feel like i can go wrong in Economics or Business but if option for Ross arises i will def take it for the OCR since i wanna get a good IB postion.
Also is it possible to break into Investment Banking with an Economics degree ? i always though Economics was more flexible and better degree then business because you have more options to be honest i feel Economics is much harder then Business so when hiring would a Ross student with 3.5 and LSA Econ with 3.5 be on even playing field if they both had a decent IB internship ?
I'm sure they would but getting the damn internship was impossible. I might travel in the wrong circles, but I don't really know of anyone with that kind of GPA in LSA Econ who got an internship like that (except for some connected jerks). Seemed much more common in Ross.
What kind of internships were you economic friends getting ? i saw a couple people i know had facebook/google internships in the finance department . I always thought Economics would get you into banking/consulting world pretty easy if you did well in school.
Bump
What is a competitive GPA to transfer into Ross? (outside of U.S./Michigan)
3.9+ and your chances still aren't good. I think they take 1-10 transfers per year only.
Transfer for external is 1% it's a crapshoot you have a better chance at transferring to Harvard
One Last Bump....
Talked to Advisor will take my approximately 5 semesters to complete Econ & 7 Semesters For Ross so basically a year difference would it still be worth it ?
How Important is bank placement is it worth it to stay be able join say a BB ? or would it be better join a smaller firm just to get work experience basically is work experience > then prestige school/placement resources ? If you were in my shoes would you just go with the Economics degree or try to double major with Ross but spend more time but have more resources ? How i see it i don't think it would be bad stay an extra year or two,to gain more connections & resource since they consider Ross as good as an MBA...i don't know if this is true i have a lot on my mind just would like more people opinons.
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