Accounting vs Economics

College Majors Business Major
1

<p>Ok, I'm in a little quandary here.</p>

<p>I'm currently doing an Accounting major at Penn State University - University Park. I have a good gpa so far (3.91) and I think by junior year I can maintain a 3.75-3.8 at least.</p>

<p>However, i recently got admitted to the University of Michigan LSA program. I was wondering if it would be better to do Economics at Michigan as opposed to Accounting at Penn State? </p>

<p>I also want to go to a good graduate school and get an MBA. So will it be better if I make the switch to Michigan, or should I stay at PSU and major in Accounting?</p>

2

<p>Go to Michigan, try to get a BB banking offer, work for 2-3 yrs, and get a top-notch MBA.</p>

3

<p>Too many people think about getting that top MBA during their undergraduate years. I think you should think about that once you start your full-time job.</p>

4

<p>So do you mean that for graduate school, it doesn't matter where you do your undergrad from, as long as you have work experience and a good GPA?</p>

<p>In that case, isn't it better to stick with PSU accounting? I'm not exactly sure what jobs you can get with an Econ degree from Michigan.</p>

5

<p>
[quote]
So do you mean that for graduate school, it doesn't matter where you do your undergrad from, as long as you have work experience and a good GPA?

[/quote]

QUALITY work experience, leadership potential, and a respectable GMAT score (preferably 700+). Your GPA isn't really that important. </p>

<p>
[quote]
In that case, isn't it better to stick with PSU accounting? I'm not exactly sure what jobs you can get with an Econ degree from Michigan.

[/quote]

Whether or not PSU is better is really dependent on you. If you want to become a CPA, then PSU may be better, but if you want IB or consulting (2 MBA feeder professions) then Michigan>>PSU.</p>

6

<p>I'm actually surprised you applied for Econ at Michigan instead of for the Ross School of Business there (or maybe you did, but were not accepted?).</p>

<p>Anyway, I agree with the others on here. Stay at Penn State and finish your accounting degree there--especially if you are already doing excellently and obviously fit in well. The GPA and job experience are much more important than which undergrad school you went to. (If we were talking law school the answer would be different, but for an MBA this is definitely the situation).</p>

7

<p>I didn't apply to Ross directly because it's almost impossible to get in as a transfer. I really dont think I had the qualifications.</p>

<p>Anyways, I do agree that GPA and job experience are quite important. However, a lot of people say that for accounting, it doesn't matter which school you go to because the Big 4 recruit everywhere. In that case, I could have gone to Rutgers (in state university for me) and get the same opportunties that I will get here. That's why I'm not sure If I should stay at Penn State any longer.</p>

8

<p>
[quote]
The GPA and job experience are much more important than which undergrad school you went to. (If we were talking law school the answer would be different, but for an MBA this is definitely the situation).

[/quote]

This is untrue. You GPA has very little weight when it comes to MBA admissions. What is important is the QUALITY of work experience and in that regards, Michigan will give you opportunities that Penn State cannot. Again, if becoming a CPA is what you want, then your fine to just stay put in Penn State, but if you want to go into IB or consulting, you will be better off going to Michigan.</p>

9

<p>Leo, have you even looked into the companies that have recently hired from PSU?</p>

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<p>I've looked at the Penn State website, and I can't really find detailed information about which companies recruit at Penn State (other than the Big 4). I wish they provided more information about companies that like to recruit PSU students.</p>

<p>PSU and Michigan both suck for financial aid. Michigan is gonna cost me 8-10K more than PSU (about 42K). While money isn't really a problem for me, I wonder if Michigan is worth the extra 8-10K. On the other hand, I really want the prestige that comes with Michigan. Penn State's name doesn't weigh as much as Michigans.</p>

<p>Right now I'm leaning more towards Michigan, but I haven't ruled out staying at PSU yet. Hopefully the Michigan campus tour will help me decide if I really want to go there!</p>

11

<p>
[quote]
Leo, have you even looked into the companies that have recently hired from PSU?

[/quote]

Yes I have. Not as good as Michigan's. Why do you always try to bring something up when I say one school would give better opportunities than another? lol</p>

12

<p>Although the numbers are small at PSU, those that try and want a job will get it, especially with his GPA. They send a few to goldman each year, along with a few to nearly all the other large banks and regional firms. Consulting is questionable. </p>

<p>PSU is a huge name, i wouldnt discount that, especially if you plan to remain on the east coast. Save the money. Your GPA right now is good enough for whatever you would want to do. As long as you have A personality, you will be fine.</p>

13

<p>mightynick - consider staying at PSU and applying for Schreyer honors (you can start up in junior year). Looks like you would make it in. These kids get access to the best interview opportunities. Even outside of Schreyer, there are many opportunities for students with high GPAs and leadership activities. My friend's daughter (currently a junior at Smeal) just landed an internship with Merrill Lynch. Some of her friends have internships at Morgan Stanley and Goldman. Not bad.<br>
Yes, Michigan is a better name - but the $ should be a consideration. BTW - the PSU UG business program got top notch ratings from recruiters in the last Business Week rankings. Great ratings for facilities too!
Good luck with your choice!</p>

14

<p>MN - check out students comments from Smeal (Comments from Michigan are also very positive - but it's from the business school students - not sure about economics). I think it's a tough choice....
<a href="http://www.businessweek.com/bschools/07/undergrad/profiles/pennstate4.htm%5B/url%5D"&gt;http://www.businessweek.com/bschools/07/undergrad/profiles/pennstate4.htm&lt;/a&gt;&lt;/p>

15

<p>Based on what students have said, Penn State's Business school seems really good. However, what I don't get, is that if students have given such postive feedback then why isn't Smeal ranked in the top 25 in Businessweek? </p>

<p>I wonder how many students from each school (Business, Engineering, Liberal Arts) get into Schreyers at the end of sophomore year. Someone told me that its 75 total (or from each school)...so i'm not so sure. Either way I think its going to be quite hard to get in. I hope to get a 3.75 minimum by spring semester sophomore year.</p>

16

<p>dont follow those rankings</p>

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<p>yeah - For BW: PSU's rankings are dragged down by relatively low SAT scores and its faculty/student ratios. The program is getting more popular though and it's getting tougher to get in - we know a kid who was rejected this year with good stats. He switched up to DUS and is in. So hopefully, the rankings will rise in the future (although they are already in the top 20 for USNEWS).<br>
Regarding Schreyer, if you are still considering staying around, I would recommend setting up an appt with one of the staff members there to get more info on entry requirements and chances. Especially if this would be a critical part of your decision. If you do stay, you may want to take some honors classes too (if there's space). Small classes will help you to get to know some professors and can help with recommendations. Stay away from honors accounting though - my son has it this semester and it's REALLY tough (read:GPA killer). Good luck!</p>

18

<p>I don't know if you are talking about graduate school or simply transferring;however, if you are talking about transferring, my response is,'are you crazy?'</p>

<p>If you are maintaining about a 3.8 or better GPA, you should ABSOLUTELY stay put until you graduate unless you are miserable there. Even being miserable, I would counsel you to stay there. Having that high of a GPA in accounting will open up a LOT of opportunities with top notch accounting firrms and with consulting firms. </p>

<p>If you are talking about graduate school then I don't have a problem with your attending Michigan in Economics, although I don't understand why you would want that. An MBA from there or a specialized MS in finance or some other business related area would seem to be the better route. Maybe I don't understand something.</p>

19

<p>i believe it is for undergrad since he said he is a sophomore. Every single big 10 school has a great business program, i don't know why people do not recognize this. </p>

<p>Iowa sends people into ibanking and consulting
Michigan does as well
Minnesota
PSU
Wisconsin
Purdue
Northwestern obviously
Indiana does
Illinois sends plenty
Ohio even does
MSU questionable, never found anything saying yes or no</p>

20

<p>
[quote]
yeah - For BW: PSU's rankings are dragged down by relatively low SAT scores and its faculty/student ratios. The program is getting more popular though and it's getting tougher to get in - we know a kid who was rejected this year with good stats. He switched up to DUS and is in. So hopefully, the rankings will rise in the future (although they are already in the top 20 for USNEWS).
Regarding Schreyer, if you are still considering staying around, I would recommend setting up an appt with one of the staff members there to get more info on entry requirements and chances. Especially if this would be a critical part of your decision. If you do stay, you may want to take some honors classes too (if there's space). Small classes will help you to get to know some professors and can help with recommendations. Stay away from honors accounting though - my son has it this semester and it's REALLY tough (read:GPA killer). Good luck!

[/quote]
</p>

<p>Thanks for the reply! </p>

<p>I will be asking my advisor about class requirements for the honors program. I wonder if being in Sapphire makes you eligible for the honors program, because we have cohort classes anyway. I'm also taking accounting this semester, and I agree it is pretty hard. I got an A on the first exam with the average in our class being a 69, but I'm pretty sure our second exam is gonna be tough!! </p>

<p>I agree that its a tough choice between Michigan/PSU. The fact that I like both Accounting and Economics makes this an even harder choice.</p>

<p>
[quote]
I don't know if you are talking about graduate school or simply transferring;however, if you are talking about transferring, my response is,'are you crazy?'</p>

<p>If you are maintaining about a 3.8 or better GPA, you should ABSOLUTELY stay put until you graduate unless you are miserable there. Even being miserable, I would counsel you to stay there. Having that high of a GPA in accounting will open up a LOT of opportunities with top notch accounting firrms and with consulting firms. </p>

<p>If you are talking about graduate school then I don't have a problem with your attending Michigan in Economics, although I don't understand why you would want that. An MBA from there or a specialized MS in finance or some other business related area would seem to be the better route. Maybe I don't understand something.

[/quote]
</p>

<p>I'm an undergraduate freshman at Smeal...and I had a 3.91 fall semester. By the end of spring semester I'm looking at a 3.85 cumulative GPA. It's pretty hard to say whether or not I'll be able to maintain that kind of GPA by the end of my junior year when I'll be taking higher level accounting/finance classes. Accounting does open up a lot of opportunities, but I wonder if an Econ degree from Michigan would be better in the long run. I know a lot of companies do recruit Econ majors from Michigan for finance related jobs, but I suppose they give first preference to business majors.</p>

<p>Also, i was wondering if my GPA will carry over to Michigan. I'm kinda uncomfortable about starting all over again, because it'll seem as if my 3.8 GPA will go down the drain.</p>

<p>Southpasdena:
I went to this Accounting society event in which we had guest speakers from Merill Lynch and someone asked the representative about how many people they hire for investment banking...the answer was very few.</p>

<p>I know a few people in the nittany lion fund who got investment banking offers, but these people were schreyers kids and board members of the lion fund or lead analysts in the investment association. I think getting an ibanking offer is pretty difficult for a non-amazing kid.</p>