<p>I am planning to become a business administration major and having a hard time deciding between these two schools. Cost is not a major factor but Berkeley is significantly cheaper since I am a Californian resident. I visited both campuses and really thought both schools were nice. You guys have any suggestions? One of the major plusses of going to Carnegie Mellon would be the internship opportunities as well as job offers after school while in Berkeley I would probably be at the lower end of the pack struggling to find internships and such? Am I being mislead here? The Tepper program has significantly lower amount of undergraduates as well and learning to adjust to a new environment (the east coast) could be a good growing up experience for me. But is that extra 20k+ I'll be spending at Tepper a significantly better investment? Any advice is welcome, thanks :)</p>
<p>Carnegie Mellon. But I have a HIGLY anti-west coast bias. If you asked me to choose between Berkeley and Cape Cod Community College, I'd choose the latter.</p>
<p>You're being mislead. Pittsburg has nice opportunities and all, but is rather sparse compared to the San Francisco area. Many major companies based there, and if investment banking is your thing, lots of that there too (most have branches in San Francisco to keep a tab on the high-tech companies around there).</p>
<p>Both give you excellent opportunities, but Berkeley is on more recruiting lists and generally attracts a higher end (salary-wise) selection. I'd say that you should probably save the money and go to Berkeley.</p>
<p>I'm not that familiar with the Tepper program, but I'm pretty sure it has about the same number as Haas does. But even so, Berkeley is highly recruited even outside of Haas. The two west coast stops for large national/multinational companies are usually Stanford and Berkeley.</p>
<p>Does anyone talk from experience about the internship opportunities at Berkeley?</p>
<p>Berkeley, especially if you transfer into Haas would probably give the edge in terms of job opps.</p>
<p>A good way to check how well a school is recruited is to see if they're on this list <a href="http://lazard.com/careers/FA-NA-UG.html%5B/url%5D">http://lazard.com/careers/FA-NA-UG.html</a> usually with a few minor exceptions, wherever Lazard is recruiting is a great choice, just for the fact that they're very selective and so if they're recruiting at school X then most other top firms are recruiting from school X as well.</p>
<p>I'm surprised places like Cornell and MIT are not on that list.</p>
<p>Jesus Christ, is Howard on everybody list?</p>
<p>yes howard is pretty much on everyone's list. it's the top black college.</p>
<p>
[quote]
'm surprised places like Cornell and MIT are not on that list.
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<p>Well, some people argue that Cornell's AEM program is still pretty new so that could be a reason for that. As for MIT, it's pretty possible that they're not interested in engineering types, the link above was for financial advisory openings, not S&T</p>
<p>dcfca, Do you know the base salary for PCS, and what is a target GPA to get an interview?</p>
<p>I'm pretty sure PCS and PWM mean basically the same thing, Private Wealth Management, you work with high network individuals/mid-market businesses.</p>
<p>I heard the pay is tied to your performance, so it can start out low and can actually go extremely high (7 figures) depending on if you can net clients, so its a matter of individual performance. It's more of a sales job than banking and you can expect to call old ladys trying to sell thems stock.</p>
<p>I had a friend who worked for GS PWM while going to night law school, they paid for his law schooling but I don't know any comp specifics really.</p>
<p>saw this on the vault-</p>
<p><a href="1">quote</a> The industry is generally known as "Asset and Wealth Management". </p>
<p>(2) Industry Overview - See January Euromoney survey. This will give you an idea of the industry and relative positions of firms within the industry and market segments. E&Y also does a yearly survey of the AWM industry. (Or at least did in the past). </p>
<p>As to industry, there are tiers of clients by AUM (assets under management). The difference between Bill Gates and some Billy Bob with a "measly" $1mm or two. </p>
<p>This is an extremely important point. </p>
<p>(3) Clients - Got 'em or go get 'em? </p>
<p>Tiering of clients answers this question. </p>
<p>If you're dealing with the creme de la creme, you don't pick them up. You don't solicit the Rockefellers for private banking or the Pritzkers. They're with a firm and entrusted of course to the "best" that firm has to offer. Hard (but of course not impossible) to get them to move. </p>
<p>Finding clients I think is more a case of the lower tiers and "mass market" affluent. </p>
<p>(4) At the higher levels of A&WM existence, you are in involved in tax planning, true investment advice (not product stuffing), inter generational wealth transfer (privatization of family companies, reducing exposures to a single or few large investments) etc. etc.
This is real relationship banking. </p>
<p>At the lower levels, you are stuffing products at the mass affluent. More of a retail banking focus - volume and margin.
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<p>anyway i'm interviewing with a BB's PWM on saturday, so that should be pretty interesting, hopefully I can get the position. should be a good way to spend the summer and help the resume.</p>
<p>Cold calling ah? All I can here is Gordon Gekko saying "If it wasn't for me you'd still be cold calling widows, and dentist, trying to sell them 20 shares of some dogshi stock" LoL anyways is there a base salary of atleast 40? The thing with PWM is that I'm lacking probably the most important ingredient. Charisma. I'm mean a fairly bright, guy, I can communicate well. I'm ambitous, but I guess I'm probably easily forgettable, though I have great leadership skills. I just wish I had charisma, and the more charasmatic individuals are going to land all the accounts. Also are you going to try to do SEO dcfca? I was looking at their website, and they have several different sectors, from Asset Management, to Management Consulting to of course IB. I'm thinking of applying for that program in 07. I think if you apply early, that may increase your chances.</p>
<p>probably 50k base + bonus</p>
<p>yeah i'm going to apply for SEO, but i wont apply for anything PWM related. I'd rather do traditional banking I think</p>
<p>50k, + bonus, not to bad. If I apply to SEO, I'll make Ibanking my preference, with AM, and GCLF as my backups, do you think it is easier to get accepted to SEO as assest management intern as opposed to an Ibanking or MC intern?</p>
<p>AM would probably be easiest. MC hardest. IBanking hard but below MC.</p>
<p>Think a 3.6 with Leaderhsip EC's will get you into AM if you apply really early? I noticed that all the others require atleast a 3.0 even Ibanking, but MC requires a 3.3. MC must be sexy or something because Ibanking pays more.</p>
<p>Also their flyer is funny. They say all you need is a 3.0 and a hunger to compete for what could be the oppurtunity of a lifetime. Doubt 3.0 will get you in unless you go to an Ivy League school.</p>
<p>what happens if you don't make it into UCBerkeley's business when you apply into it for junior year? That's a question to ask yourself.</p>
<p>Honestly if you're set on business, and you know Carnegie accepted you as a business major, go with carnegie. It's a different living experience than California.</p>
<p>Do realize that Berkeley still has a top economics program.</p>
<p>Also realize that not all jobs/internships are taken by business students--in fact, many companies prefer non-business majors for logical/quantitative ability (engineering/math majors, for instance). This is also besides the fact that MBA programs usually prefer to have students that have not already gotten a formal business education.</p>
<p>Even if you don't get in, I wouldn't fret.</p>
<p>Of course, by this time, you would have already made your decision.</p>
<p>what if the OP doesnt want to study/major in econ.? i know that business majors need to take some general economics courses obviously but what if a person doesnt want to major in it?? i chose indiana business school over ucla's econ. or "biz econ." (i would have to apply during sophomore year which got me worried since if i didnt get in then i would probaly major in history, my 2nd passion) since i decided if im going to pursue business why not go all the way? hey if you were a econ. or history major at harvard or something now thats a different story (besides schools like harvard dont have business majors but since its such a respected institution it probaly doesnt matter)</p>
<p>doesnt really matter if you study econ or business, you rarely use what you're taught in b-school.</p>
<p>Allorion, I don't think the comment on preferring people with non-business major backgrounds is correct. I think they make up larger numbers at top b-schools solely b/c top undergrads do not offer business and those are the kids who get good work experience and hit up top b-schools.</p>
<p>^ what he said 0.0'</p>