I am currently a freshman planning on majoring in Economics. I applied ED to Wharton and was rejected. I also applied to Ross at UMICH RD and was rejected. I really want to go into Finance and would love to attend Wharton. I really crave being part of an undergraduate business program and it pains me everyday to not be studying business, as that is what I want to do and major in. I was wondering of the difficulty in transferring into Wharton from a top public school and having been already rejected ED. What kind of stats would I need to have to make a case? How many people do they usually accept as transfers? Can essays make the difference for me? Could one semester of my freshman year in college really make that much of a difference? How can I improve my odds?
Stats please?
It is quite clear that your interest isn’t “being part of an undergraduate business program”. It is going to a more prestigious university. If you were really interested in business, you would have found a school that would have accepted you. Also, your transfer application is highly unlikely to result in a different decision.
@Eeyore123 I’d appreciate it if you didn’t rush to conclusions. Sure, I would like to attend a more prestigious university. However, the colleges (with business programs) I was accepted into, offered me significantly worse financial aid than did the University of Michigan. It was in my best interest to attend UMICH due to it actually being a target for top financial firms and because it was the cheapest option (fortunately) of ALL the colleges I was accepted into. I would also, obviously, not want to be part of a business program if top firms (where I wish to work at in the future) did not recruit there. Thus, due to the presence of Ross at UMICH, I thought it would be in my best interest to attend UMICH. Could you elaborate on why my transfer application is “highly unlikely to result in a different decision?”
@lzpare I don’t want to tell my specific stats, but they are not ideal. SAT is in the low 1500s, and I’m not in the top 10% of my graduating class. I have taken a rigorous curriculum throughout HS though.
The chance for Wharton transfer is slim for everyone. Do you best on your application, but do not count on it. Spread a wide net if you have to transfer.
@f2000sa What schools would you recommend applying to transfer to? These schools must be targets for top financial firms. Is there like a common list? Are there any with a pretty high chance of acceptance?
Comprehensive List Of Target Schools For Investment Banking
https://www.wallstreetoasis.com/forums/comprehensive-list-of-target-schools
Unless you have done something outstanding between the last application and your transfer application it is unlikely that a college (especially such a highly competitive one) that rejected you for freshman admissions will accept you as a transfer student. It is fine to put in an application but I think your best best is to settle in at UM and make the most of your opportunities there. You should try for an internal transfer to Ross.
You can get many business jobs with a Michigan economics degree, as you noted in your post. AND Michigan gave you the best financial aid. It seems like you made a good decision to enroll!
Regarding transferring to Wharton, your chances are slim even if you earn a 4.0 this semester. Having had your application denied once will be relevant. Penn does give fin aid to transfers, but I do not know how generous it is, you will have to research that. Further, many schools do not give fin aid (beyond self-aid) to transfers, so that is something else you will have to evaluate.
Here are Wharton’s transfer requirements: https://admissions.upenn.edu/admissions-and-financial-aid/preparing-for-admission/transfer-admission/wharton-school-transfer
I would focus on making the most of the opportunities at Michigan, you can parlay your economics degree into a great business career.
“ You should try for an internal transfer to Ross.”
Once you have been rejected by Ross, there is no “internal tansfer” opportunity to be had.
@rjkofnovi I didn’t know that. Thanks!
External transfer acceptance rate to Wharton is around 3-5 percent
For example, out of 160 people who applied to Wharton as transfers, they would only take 10
Moreover, with just 1 semester of college your HS record will carry a lot of weight, so as @happy1 noted w/o something else notable they will be largely re-looking at the record that didn’t succeed the first time. Make the best of UMi and work on getting good internships- starting now, be looking for next summer.
@rjkofnovi Is that a hard fact? Where is the source on this? Although they may prioritize those who have never applied before, does that mean people like me cannot reapply at all? Will we be automatically rejected?
@collegemom3717 Do freshman in college usually get internships the summer before their sophomore year? I thought internships were largely reserved for sophomore, juniors and seniors.
@lzpare Does this number include only those entering as sophomores or does it include incoming juniors as well? Also, source?
@happy1 Is there any college you would recommend I try transferring to such that it would set me up for more success than an Economics degree from the University of Michigan? One that is not so “highly competitive?”
@youngking2 Yes, many freshman secure internships for the summer before soph year. Make full use of Michigan’s career center and economics department to assist you, I expect you will have many good options and you should start your search now.
In post #14 you reference that you are looking for something not so highly competitive. Do you mean a cutthroat environment? Challenging courses? Regardless, why would you be looking at Wharton if you want a school ‘that is not so highly competitive’? You will need to share more information to ensure you get helpful recommendations from posters. IMO you will not find a school that ‘sets you up for more success than an econ degree from Mich’ that is also ‘not so highly competitive’.
@youngking2, ofc the more exciting internships mostly go to older students, but there are internships to be had right from the beginning. You have to work to find them, then work harder to get them, all while you are working really hard to get to know some professors well enough for them to write you a rec, and get the grades that will make you stand out. You get what you can 1st year, then leverage that to put you to the front of the pack for 2nd year. The big one is summer after Junior year, as those often lead to post-graduation jobs.
I don’t know the ethos at Ross at all, but Wharton is one of the most competitive environments I have seen. If you are driven & competitive enough for that environment you are likely to be a standout at UMi. Have you looked at the requirements & criteria for the Ross minor in Business (which you are eligible for)?
@Mwfan1921 I am actually looking to transfer into highly competitive colleges, with Wharton being my dream school (which is why I am looking at it). I was referring to other colleges I could apply to with more reasonable expectations. I am trying to create a list of colleges with both colleges that are highly competitive and with colleges that are not so highly competitive to apply to transfer to.
@youngking2 I don’t think you are giving Michigan a chance. @collegemom3717 makes a great point about adding a business minor as well. Is that something that appeals to you?
Yes, you were disappointed that you weren’t accepted to Wharton and Ross, but an economics degree from Michigan can lead to a great business career. I don’t get the sense that you value the feedback you are getting to your post, because it is not what you want to hear.
Again, I think your chances of being accepted to Wharton as a transfer are very low, not enough to spend time or mindshare on. I also don’t understand why you would be looking to transfer to less competitive colleges for business, but if you really want a business major and not an economics degree, it’s likely you would need to do that. Significantly complicating your situation is the fact that you need financial aid and generally, there is FAR less finaid available to transfers than freshman. Does your home state flagship have a business school?
@youngking2: Is financial aid still a significant concern ? If so, research financial aid availability for transfer students at your targeted schools.
If you want to major in finance, then you need to expand your list of schools.