[Undergrad] NYU Stern w/ 100k+ Debt or Richard Ivey School of Business

ToNic136's picture
Rank: Monkey | 40

Hey guys,

This is my first post and I'm looking for some help. Let's start with some background info:
I'm a senior in high school living in Toronto, Canada.
My family is middle income.
I'm pretty set on pursuing a career in finance.

I got accepted to NYU Stern recently and received around 20k in scholarships from them. That lowers tuition down to about 50k/yr? My family can contribute a good amount, but they'll be taking out loans and I'll have to pay them back afterwards. Expecting around 100k+ in debt.
Alternatively, I can stay in Canada and go to the Richard Ivey School of Business. Tuition for Richard Ivey is only about 20k.
From what I read thus far, Stern is extremely good at placing kids onto Wall Street, but Richard Ivey has a presence in BBs and Elite Boutiques as well. My family friend is going on to work at Evercore from Richard Ivey. They probably send around 10 people to NY every year and it's all to BBs or Elite Boutiques.

So is NYU Stern worth the 100k+ debt that I'm going to graduate with? Also, will I be able to offset some of these costs by taking a school year internship? Is it possible to get a good paying internship my freshman year? How many years will it take for me to pay it back after graduation?

Thanks a lot for actually reading the entire post. Any help would be appreciated.

Comments (15)

Feb 14, 2015

I wouldn't wanna be burdened by the debt. Besides, Ivey places pretty damn well in BB.

Feb 14, 2015

Yea Iveys doing amazing right now for a Canadian school. But if Stern does significantly better, that seems like the better option to me. How long would it take me to pay back 100k? 5 years? Do you attend Ivey by any chance? I'd like to get a better insight into the two schools as well.

Feb 17, 2015

I would honestly go with Ivey, feel free to PM me if you want my opinion

Feb 17, 2015

I would honestly go with Ivey, feel free to PM me if you want my opinion

Feb 18, 2015

hey congrats on your admissions! I'm in college now and am trying to transfer into either one of these schools haha. I think they are both great schools; but Stern defs places more people on Wall Street each year than Ivey. So if you are set to work in US then prob Stern. PM me and we could discuss :)

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Feb 18, 2015

True, but I do feel obliged to point out in general that it's the % of those trying for IB who get it that counts more than raw numbers. Hypothetically, being from a school that sends 50 people to the street each year would mean jack shit if you're at one with several thousand trying for it whereas a small program that only admits a hundred each year and sends 15 to the street would be a better bet.

I'm not personally familiar with Stern but other posters have pointed out that it can actually be easier to get in from other target schools due to less intra-class competition for IB slots at those target schools.

Feb 18, 2015

Had offers from both schools (went to high school in Toronto) with a fat scholarship from Richard Ivey, eventually decided to go with an Ivy League and will be doing IBD SA in NYC this summer. From what I hear from my friends at both schools, getting interviews and offers seems to be much easier at Stern, while Ivey definitely lags behind. The idea of informational interviews and networking really hasn't crossed the minds of people at Ivey, while Stern obviously has a terrific advantage due to its location.

Feel free to PM with questions.

Feb 23, 2015

Thanks for the all the help guys! I'm definitely going to PM a couple of you to get a better idea of the 2 schools. Unfortunately it seems I need at least 10 points, so I'll try to get to you guys ASAP.

Feb 23, 2015

Thanks for the all the help guys! I'm definitely going to PM a couple of you to get a better idea of the 2 schools. Unfortunately it seems I need at least 10 points, so I'll try to get to you guys ASAP.

Feb 23, 2015

If you're dead-set on working in NY, go to NYU Stern.

The Ivey kids who end up in NY/LA/SF are within the top 5-10% of Ivey HBA, which is no easy feat in itself (aka risk). I know a lot of very smart/intellectual kids who weren't able to translate to top marks at Ivey due to the case method. An average kid at Ivey is very unlikely to land a job in IBD in Toronto, let alone at a BB in NY

If you end up at Stern, you have access to so many more firms (including most MMs, all EBs and all BBs) which equates to a better chance of landing a job on the street. Even if you land a Summer position at a MM bank in NY (which for the most part aren't accessible to Ivey students), it's not a stretch to lateral to a BB/EB for FT recruitment. This is a lot harder coming from Ivey.

IMO, the increased probability of landing the job you want in NY, the network and experience of living in NY is worth the debt. You'll be able to pay it back within 3-5 years

Disclaimer: Ivey HBA grad who has spent time at both a BB and EB in Toronto and NY.

Mar 1, 2015

If you work your butt off at Ivey I would go there - they actually place decently in the States from what I've seen. If you could end up at same place as target kids by paying a lot less that would be the best scenario and I think Ivey provides the platform and opportunities for you to do just that.

Obviously if you even have the slightest idea that you would only perform average or slightly above average then I would go to Stern just because the opportunities available in NYC.

Kids at Stern with ~3.5 or lower get boutiques and lesser known middle market banks starting from freshman and sophomore year and then leverage that to get well-known banks for SA and FT. This happens a lot and is one of the benefits of going to school in NYC.

I would say Ivey to save money-- just work hard to be at the top by recruiting season. Stern would be a much safer bet, but at an extra cost of $30k/yer would be a conversation to have with your parents.

The other consideration would be the brand - Stern is very well known all around the US and abroad because of its location in New York and having New York University attached to it so that is something else to think about also. But since you're an undergrad you could always go back and rebrand yourself with an MBA.

Apr 4, 2015

Bump, I need to make a decision soon and I'm still not committed to either... Anymore help would be greatly appreciated

Apr 7, 2015

If your family can handle the debt --> NYU
If your family would find it hard to take on that much debt --> Ivey
Pretty clear cut in my opinion

Apr 7, 2015

It's not necessarily my family who will be shouldering the debt. It's all going to fall on me after graduation. That's why I'm still undecided. I have no idea how long it will take to pay that back, even if I do break into IB.

Apr 7, 2015
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