<p>As many times as you’ve heard this: there really is more to finance than Wall Street.</p>
<p>McCombs at U Texas sends about 15% of BHP students and 8% of iMPA students to NYC each year. It’s not because they couldn’t have sent more, it’s because NYC is simply so expensive that, even if your starting salary is $10 or $20k more than it would be in Texas, you’ll still have a much lower standard of living.</p>
<p>I talked with some alums who work for Deloitte in Dallas and they said the couple of people who did go to NYC either did move back or want to move back to Texas.</p>
<p>I’ve talked with dozens of current McCombs BHP students who consider an office in Austin or Texas the screening process for deciding which companies they would want to work for.</p>
<p>A lot more students from McCombs go into Investment Banking or Consulting than go to NYC. For example, they can trade energy in Houston for the same or nearly the same pay with a much lower cost of living.</p>
<p>Bain has an office in Dallas.
Goldman Sachs, BCG and McKinsey have offices in Houston and Dallas
J.P Morgan Chase and Deloitte have offices in Houston, Dallas and Austin
PWC has offices in Houston, Dallas, Austin and Fort Worth
KPMG and Earnst & Young have offices in Houston, Dallas, Austin, San Antonio and Fort Worth</p>
<p>These offices are the reason McCombs is so under-represented on Wall Street. Basically, staying in Texas is choosing 6000 sq ft houses for the price of 600 sq ft NYC apartments and choosing driving a BMW to work over riding the train.</p>
<p>I know it’s worth the expense to some people, and NYC is a cool place, but really it’s not everything. Also, guy from UNC, you shouldn’t be worried.</p>
<p>In response to two posts above this one: UChicago is probably under-represented on Wall Street because Chicago itself is a great city with a lot of great jobs.</p>