I have a question regarding UIUC. My four schools as of now are UMich, Northwestern, UIUC, and Indiana. I plan to go into investment banking in the near future. I understand UMich Ross has a great program to obtain a job after, but I would probably have to apply to Ross after my freshmen year there (taking a risk). Whereas at UIUC and Indiana Kelley, I believe I can get into their honor business programs as a high schooler applying. Northwestern is northwester but very expensive. Cost wise, UIUC would help out my family the most and by a lot. So, how is the networking at UIUC and what would do you recommend majoring in? Double in Finance and Accounting? How are the investment clubs/academies and what happens if I do not get in? Any suggestions or help appreciated thank you.
Does Northwestern have undergrad business?
Illinois is great. If you can handle it major in Finance and English, or a lab science.
@BatesParents2019 they have a rigorous course work for finance students, but northwestern has a high rep for finance jobs
Yes I know but not a business degree which is what I meant.
BTW, ND would be the best program in the Midwest.
" I understand UMich Ross has a great program to obtain a job after, but I would probably have to apply to Ross after my freshmen year there (taking a risk)."
Here’s another thought. If you want to go into IB, you better be ready to compete.
That’s a good way to look at it. My parents would be paying an extra $100,000-$120,000 if I attended UMich, would it be better to attend UIUC or even Indiana?
What is your home state? Illinois?
Yes, Illinois is my home state.
“BTW, ND would be the best program in the Midwest.”
Businessweek would like you to think that. However, it’s Michigan for IB.
http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/business-finance
http://poetsandquantsforundergrads.com/2015/02/04/the-top-feeder-schools-to-wall-street/
You should add UW-Madison and UM-Twin Cities. Why?
- You might not get into Northwestern
- Michigan is also great for undergrad business, but it is not better than UW and Minnesota per se. You’re an hour from Detroit, that bastion of awesomeness. It is testament to what can happen when local government is handed over to socialists. Its smelly vapors can be detected in Ann Arbor. Madison and the Twin Cities, meanwhile, consistently rank among the top cities/metropolitan areas in which to live. You will be spending a minimum of four years at your school; do not overlook environment. (most of that about Detroit infiltrating Ann Arbor was BS, but this is not: you might not get into the University of Michigan. It is not a safety for anyone.)
- Illinois is fine, and you are more likely to gain admittance than you are at Northwestern or Michigan, but if you should change your mind regarding your major, you should know that both Wisconsin and Minnesota outrank UIUC in a great many programs. Both are strong overall. (UW is slightly stronger academically, but if you need a true urban experience, Madison can’t offer it; the Twin Cities can)
- Both Wisconsin and Minnesota are more prestigious than IU
Adding depth to your search is a good thing for (at least) the aforementioned reasons, Detroit jokes aside.
And if you are looking at Northwestern and Michigan, why not add Notre Dame? They also are very strong in undergrad Business.
At any rate, good luck!
“Michigan is also great for undergrad business, but it is not better than UW and Minnesota per se.”
Incorrect, particularly for finance.
“Both Wisconsin and Minnesota are more prestigious than IU”
As an overall institution I would agree; but not for finance.
@rjkofnovi I am partner in an 8 billion dollar PE firm and on 5 private boards. I think my advice is at least as good as yours.
Right now, ND and Penn are the two best business schools for undergrads. Michigan is great but doesn’t have the same quality of teaching at the undergrad level.
I’ll trust the opinions of poets and quants and USNWR over yours. Notre Dame isn’t on either of their top ten lists for finance.
I misused “per se”; I should have said “per se, taking environment into consideration.”
Academically, yes, Michigan is a beast.
And if IU Finance outranks the programs at UW and Minnesota, then the same argument applies as that put forth in the UIUC section: UW and UM-TC are better in most programs aside from Finance, should the OP change his or her mind.
The four schools mentioned are all fine, but the OP might not get into NU or Michigan… in which case, depth would help.
@rjkofnovi I see ND tied for #2 on Poets & Quants. Ross is #8.
Do you understand the P&Q methodology?
For the price, it is hard to beat UIUC. Just know that very few undergrads end up in investment banking so be sure to have a back-up plan.
No need to pick a major now. If you are in a b-school you will take a business core with intro classes in disciplines such as accounting, finance, economics, management, IT etc. so you will have time to see where your interests and aptitudes lie before choosing a major.
I would agree that ND is a great-b-school in the Midwest. Personally, I don’t like the deal at UM where you apply to Ross freshman year – I know a number of (smart) kids who went to UM and then didn’t get into Ross and either had to change major or transfer.
Here are the paths to IB from Midwestern schools:
- Get in to Northwestern. Plenty of finance/business programs like the Kellogg certificates and Business Institutions minor.
- Get in to UChicago. No business major, but banks do recruit there and you may take a few business classes.
- Get in to Ross (they have preferred admit where you’re in if you meet a certain GPA, but that admit is probably as tough to get as getting in to ND)
- Not as good as 1. and 2, but Mendoza (ND) is at least a semi-target. Strong alumni network.
- Go to Kelley and get in to their IB Workshop. Every kid in their IB Workshop manages to place in to an IB. Note that getting in to Kelley isn’t all that hard, but Kelley is absolutely massive, and maybe 10% of Kelley students go in to their various workshops.
Otherwise, it’s semi-targets like UIUC and UW-Madison. I believe that you aren’t guaranteed admission to the b-school at UW-Madison but apply to the b-school directly at UIUC. UIUC also has started an IB Academy that seems to be their smaller version of Kelley’s IB Workshop (UIUC is considerably smaller than Kelley). Don’t know what their track record is, however.
Oh, and WashU (Olin). Also a semi-target. I’ve heard that they are rising.
Carlson (Minny) is good for recruiting in the Twin Cities, but not really outside of there.
Are you a rising senior in HS? If so, you don’t have a decision to make yet (unless it is deciding where to ED). Once you have acceptances and know costs, you’ll have a decision to make.
@RonakPatel2017 I won’t debate rankings, but will share our experience. We live in a suburb of Chicago. My children (daughter is a rising junior, son will be a freshman in the Fall) chose to attend UIUC in the College of Business.
Here are things we considered:
Financially, we would be full pay at any school, so merit $s would be needed to bring down the COA. Of the four schools you mentioned, only IU and UIUC offered $s. (Note: we did not apply to Northwestern. We have extended family, who have 3 children - 2 are current, one graduated this Spring - and they received zero assistance.)
IU offered enough merit $s to make it equivalent to UIUC in-state. However, two things made us wary of committing there. First, the people we know attending IU (and I realize I risk offending people) just aren’t that impressive. I want to emphasize the “people we know” part. From our high school they are the students who may have been involved in student gov, but they were not the ones taking rigorous classes. Secondly, an incoming class of 1200+ was not appealing on many levels.
Michigan accepted our son EA, but no $s or Ross pre-admit. (I don’t remember if they give anything for NMF, but if they do it is a “drop in the bucket”.) Plus it was disconcerting to know that the COA rises when you reach 55 credits and the actual dollar amount for the degree is unknown. ~$225k for an undergraduate degree is ridiculous to us.
UIUC offered some merit $s. Also in its favor was the locked-in tuition and generous acceptance of AP credits.
My daughter (finance and supply chain) got very involved on campus and has had a wonderful experience so far - great (paid) internship this summer, along with a memorable study abroad this Spring. She also appreciates the network back to the Chicago. Both of my children would be happy to stay around the area. (As a parent, I can only hope it works out.)
Lastly, I feel that if you excel and are at the top of your class, the opportunities are there. Good luck!
P.S. Sorry I can’t help with IB.
Have you run the NPCs before assuming that one university will cost more than the other (ND vs. Umich) since a private university may have scholarships a public university may not have? Where will the extra costs for UMIchigan come from (college savings, parents’ income…)?
What are your stats?
What’s the highest math class you’ve taken so far?
Is UIUC undecided your safety and if so have you checked that it’s affordable (Illinois is one of two states that combines high tuition and low financial aid even for instate residents, along with PA)?
“@rjkofnovi I see ND tied for #2 on Poets & Quants. Ross is #8.”
That’s nice, but we’re talking about IB here.