UNC vs Notre Dame vs Georgetown vs UMich for Investment Banking

Hello,

I'm currently in the college decision process and I'm seeking opinions and insights to help me decide between the business schools at UNC, Notre Dame, Georgetown, and UMich. I'm looking to study finance with the goal of getting into investment banking in New York.  I am a low income student.  Here is where I'm currently at with schools: 

UNC - I'm an Assured Admit into the Kenan-Flagler Business School and I've been awarded the Morehead-Cain Scholarship (full 4-year merit scholarship/leadership program). I really like the summer experiences and unique opportunities that Morehead-Cain provides.  I'm unsure how well KF places into IB firms in NY.

ND - I have been guaranteed admission into Mendoza. My first year is fully funded (will have to apply for aid every year and hopefully receive a similar aid package). So for all intents and purposes my cost will be the same as UNC. I really like ND's social/dorm life and their strong alumni network.  I think ND has decent placement with NY IB firms. 

Georgetown - I'm waiting to hear from them on April 1st. Hoping for a good aid package if I get in. GT meets 100% need so I'm expecting a similar aid package as ND. I hear GT/McDonough places really well into investment banking firms in NY.  I

UMich - Admitted into Ross. But it will cost me 25k a year more than UNC/ND. This would be a financial hardship so it's hard to justify $100k for Ross over my other options. 

Any thoughts about employment outcomes, curriculum, social/dorm life, etc. at these schools would be greatly appreciated. Feel free to include your opinion/ranking about which school I should choose. 

Thanks

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (45)

  • Prospect in IB - Gen
Mar 14, 2021 - 4:43pm

UNC student here, based on what you said you haven't gotten into Georgetown so I'm not gonna take that into consideration but if you do I'd go there over everything. I wouldn't go to UMich over UNC/ND if it will cost you 100k more. Between ND and UNC I'd go to UNC since you're a Morehead Scholar (every Morehead Scholar I know has placed very well into banking) and most people here are interested in consulting so competition is less with you already having an advantage. Also, UNC has strong placement in BBs all in NYC with only BAML placing some people in Charlotte (most still go to NYC) so don't worry about getting swept into the Charlotte wave. That being said, if your skills are more technical and aren't as conversational I would go somewhere else since we don't place well at all at EBs if you are interested in that. It all comes down to what school will help you with your skillsets and strengths and give you the best chance at getting into a top bank.

  • Analyst 1 in IB - Gen
Mar 20, 2021 - 1:12pm

What makes Morehead better than the rest of UNC? There's the study abroad programs but those exist at most schools.

  • Prospect in IB-M&A
Mar 14, 2021 - 4:44pm

I'd go with UNC. They don't hand out those scholarships to just anyone and if you go there chances are you will be a cut above the rest of the talent pool there.

Mar 14, 2021 - 4:45pm

Just a prospect so take my word as you will but, I think it'll be between Georgetown and ND depending on your preference of location. From there, I understand Georgetown places better in NYC, ND does better in Chicago. I'd probably go with Georgetown over ND because there are more opportunities in NYC and it's just a better place to be in my opinion factoring in cost of attendance, placements, etc., but you can't go wrong with any of the schools you listed if you work hard.

I don't think UNC has the same opportunities as Georgetown and ND, and Ross will be too expensive.

Also, please factor in if you'll actually enjoy the student life there. That should be a much, much bigger factor in your college decision than IB placements, especially if you're between GTown and ND. Just my two cents.

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
  • Prospect in IB - Ind
Mar 14, 2021 - 4:46pm

In terms of IB placement

  1. Georgetown
  1. Michigan
  1. UNC
  1. ND

Morehead Cain is a big deal at UNC and with that, along with being a strong candidate overall, you should get into one of GS/MS/BofA/Barclays. Georgetown and Michigan place the highest volume, and have a pipeline at the highest number of shops, but the competition will also be much higher because there's a lot more interest. Can't speak to ND, but I believe the placement is also pretty good.

  • Intern in IB-M&A
Mar 14, 2021 - 5:50pm

Assuming costs are similar across UNC/ND/Georgetown and Ross is most expensive, then I'd choose Georgetown. If Georgetown ends up being more expensive, then UNC with the scholarship + the opportunities that come with it is probably the best option. Id put Ross somewhere up there with Georgetown but not worth it for the cost. 

  • Associate 2 in PE - LBOs
Mar 18, 2021 - 10:35am

2 out of 9 or so PJT RSSG analysts came from ND last year. Not a ND alum and I know at least 1 ND kid is going there this summer. Have an ND friend at Evercore and they took 4 last year out of their analyst class of 25 or so. When ~20% of kids at top EB's are from one school and its not Wharton, might be worth looking at.

Mar 14, 2021 - 8:02pm

Baml hired more IB summer analysts from ND than any other school last yr

Remi Astronomo
  • 1
  • Intern in IB - Ind
Mar 14, 2021 - 9:15pm

Dude if you have the Morehead Cain that's 100% the way to go. It will open doors for you way beyond IB, and if you want to do IB or MBB you'll be able to pursue it. Morehead Cain is more than just a full ride, it is a life changing experience. Definitely agree that placement at UNC is worse than Ross but morehead is just impossible to turn down. people turn down Stanford, Ivies, etc. to go for the Morehead-Cain.

Funniest
  • Intern in IB - Gen
Mar 15, 2021 - 1:28pm

Ah yes, turning down Stanford for the one and only University of Northern Carolina Kenan-Flagler Business School. Of course!

  • Intern in IB - Ind
Mar 15, 2021 - 4:21pm

I mean you can weigh the trade-offs for yourself if you gave it a quick google. The person on youtube who turned down both Stanford and Duke on a full ride for it explains why she did it. Everyone values different things doesn't mean you should be ignorant about the opportunities you have in front of you. It's a UNC-affiliated scholarship, not KFBS. 

  • Intern in IB - Ind
Mar 20, 2021 - 10:52am

idk about Stanford, but personally know multiple students that turned down HYPW for Morehead Cain. 

  • Prospect in IB - Gen
Mar 15, 2021 - 10:48am

Uh... Georgetown, Mich, and ND are essentially peers, with Georgetown having an edge. Morehead Cain is potentially a better option than all of these.

  • Analyst 1 in S&T - Equities
Mar 20, 2021 - 12:04pm

I'm not sure why everyone here is freaking out about this but Georgetown has sent more people annually to IBD than any of these schools. Is that not a worthwhile fact to mention to OP? 

  • Intern in IB - Ind
Mar 15, 2021 - 4:38pm

I know people who've picked UNC over GT/ND without the Morehead-Cain just as regualr students simply because they are ultimately comparable schools but these particular students were also lower incoming and felt more at home at UNC from a social perspective. ND/GT can have really preppy/elitist culture if you're into that, but most lower income students won't.

Ultimately, your college experience is going to be far beyond what bank you place at Junior summer. As someone in similar shoes as show as a senior in high school, so much changes once you're here and personally would recommend going to UNC for a more fun social/dorm life, the morehead cain's superior college experience, and ultimately for the optionality you will have. If you stick with IB, you get solid placements at all the top BBs in NYC, but if you want to explore consulting or just something else altogether, you'll have so many connections and be treated liek royalty on campus cuz of the M-C tag.

Mar 15, 2021 - 10:53pm

I know a kid who chose Morehead-Cain over Wharton. They went to GS and now work at Blackstone. Morehead-Cain is a super legit program and I would take it hands down among these options even if you get into Georgetown. 

Array
  • 2
  • Intern in HF - EquityHedge
Mar 16, 2021 - 10:41am

I'd say pick Gtown or ND.  You can and probably will succeed at all of these programs, but I think the smaller student populations would be better for you.  Of course, it depends on your preference.  If you don't really like Catholic presence, then go to Georgetown (although I would probably pick ND if I were you).  You are splitting hairs in IB recruiting, and I would imagine smaller schools who are relatively overrepresented would push for you better.  Also, your packages for ND/Georgetown are going to be full-rides/close to full-rides every year (it should stay the same or deviate by +/- 1k).  

  • Analyst 1 in IB - Gen
Mar 19, 2021 - 11:27pm

I know about the study abroad trips but lots of schools have stuff like that. What else makes the program so great? Big advantages in recruiting with direct Superdays with MBB/BBs?

Mar 26, 2021 - 2:49pm

This chart is a good guide but what it fails to mention is how many students go to each school.  214 from Michigan sounds great until you realize they have like 30k undergrads.  Same for UT, UNC, and some of the other state schools here.  They are massive schools and based on their size they SHOULD be sending a large number of students into these positions just based on volume.  Georgetown and ND have tiny student populations, many of which don't target IB and they still send a ton into banking. If I'm making a judgement on what gives a better shot of getting a career outcome, per capita is a better metric.

  • Prospect in IB - Ind
Mar 28, 2021 - 2:08pm

This chart isn't entirely accurate. For example, current UNC student and we send way more kids to BAML than Barclays. If you include the BAML CLT Lev Fin office, there are close to 10 kids in a given year that go to BAML. So there's no way there were 10 kids total over a 5 year span. 

Mar 28, 2021 - 5:37pm

I think it only picked up people who had "Investment Banking Analyst" in their title on LinkedIn. If you didn't have a LinkedIn or used a different title (i.e., Analyst, M&A Analyst, Restructuring Analyst), I think you would have been excluded from these figures. I could be mistaken though.

Array

Start Discussion

Total Avg Compensation

May 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (35) $364
  • Associates (192) $233
  • 2nd Year Analyst (109) $151
  • Intern/Summer Associate (96) $145
  • 3rd+ Year Analyst (26) $145
  • 1st Year Analyst (397) $132
  • Intern/Summer Analyst (326) $82