<p>I've heard a lot of mixed opinions about graduating college in three years. On one hand, to me, it sounds like starting my career a year earlier and saving a large sum of money (approximately 30k). On the other hand, many people have advised against it, saying that I would want to stay all four years and that I don't want to overwhelm myself with work. What's your opinion on graduating a year early? Is it worth the extra effort? Or should I enjoy my college years and not worry about it?</p>
<p>A bit of info on me: I've narrowed my choices to University of Michigan and University of Illinois Urbana-Champaign (in-state). I'm planning on studying Finance. At UMich, I am not a preferred admit, so I'm definitely weighing the risk of getting into Ross. At UIUC, I have been accepted to their business school and their honors college. According to their AP credit sheet, I will have approximately 38 credits going into my freshman year (potentially more). I would love to attend Umich and reap the benefits of Ross, but I think being able to graduate in 3 years could be a great advantage. My family is full pay and we can easily afford both schools, although UIUC is about 20k/year cheaper. </p>
<p>How much should I consider the idea of graduating early? Which school would you go to?</p>
<p>If UIUC is in-state then it should be easy choice. Save 20k.</p>
<p>Ross is a three year program that cannot be started until your sophomore year. You will not graduate in three years. However, it is decidedly better for finance than UIUC. If you can afford it, go to Michigan. The instate option, even though it is cheaper, is just not in the same league.</p>
<p>Try to make up sample schedules so that you can see how realistic your 6-7 semester plan is at each school. Not all AP credit is necessarily useful or applicable to any given major at any given school.</p>
<p>Rjkofnovi, sorry for any confusion, my plan to graduate early was only for UIUC. I would not graduate early from Mich. I’m aware that a Ross BBA degree will take all four years. I agree that Ross > UIUC, but 3 years at UIUC = ~90k, 4 years at Mich = ~200k. Even if I can afford it, is it worth it?</p>
<p>Ucbalumnus, that’s a good idea, I’ll look into that. </p>
<p>Thanks for the suggestions.</p>
<p>UIUC at about 90k would leave you with about 110k to take random coursework or even pursue graduate studies that cover anything you would miss compared to Ross. It also will allow you to get into the workforce sooner, which could well mean that even if you need to be promoted into a job that a fresh-out-of-Ross student lands, you would have a year of practical experience, and the income from that year.</p>
<p>Not to mention of course that you would have to apply to Ross. What is your plan if you don’t get in?</p>
<p>The quality of the Ross Career Center is what sets it apart from a program like UIUC. Ross is a target school and Illinois is not. That first job is so important when you start a career in finance.</p>
<p>happymomof1, Yes, the plan was that the 110k would likely be allocated towards getting an MBA, so having that extra cash would be really helpful. My dad jokes with me “Go to UIUC, I’ll buy you a 5 series, and we’ll call it even!” I have also thought that having an extra year in the workforce would put me at about even with Ross grads.</p>
<p>I’ve also considered double majoring in Finance/Accounting at UIUC. This would likely take the full 4 years (7 semesters at the very least). Any input on whether or not the double major is worth while? Would a finance/accounting double major from UIUC compare to a Ross degree?</p>
<p>If I went to Michigan and didn’t get into Ross… well there are a few options. I would either A) stay in Michigan Economics, B) Transfer to IU-Kelley, or C) Transfer to UIUC. I love Umich to death… but I don’t know if I should spend 200k on a Mich economics degree. I imagine that a UIUC accounting+finance degree is more valuable than a michigan econ degree, but correct me if I’m wrong.</p>
<p>Rjkofnovi, I agree the Ross Career Center does a better job placing Ross grads in top tier companies than UIUC. But the fact is, I haven’t gotten into Ross yet. From what I’ve heard, the LSA career center isn’t anything too special. Correct?</p>
<p>I found it interesting, when reading through the Ross admission page from last year, that out of 89 pre-admits, only 64 were included in the following years class. Does that mean 25 students chose to stay in LSA/Engineering? Or did many students not meet the 3.3 GPA requirement?</p>
<p>Well if you want to double major in accounting/finance UIUC has the second rated accounting in the nation.</p>
<p>“Rjkofnovi, I agree the Ross Career Center does a better job placing Ross grads in top tier companies than UIUC. But the fact is, I haven’t gotten into Ross yet. From what I’ve heard, the LSA career center isn’t anything too special. Correct?”</p>
<p>From what I have read online, I believe that is true. Alexandre would give you a better idea of what you could expect.</p>
<p>uofiapplicant, I’m well aware.</p>
<p>rjkofnovi, ok, thank you for the input. I’ll give him a PM. Although I think he may be a bit biased, if I remember correctly, he studied Econ :)</p>
<p>Pat1120, I do not think there is a clear cut answer to your question. Michigan is not worth $110k more than UIUC (no university is really), unless your parents are wealthy and can easily afford to spend that additional money without any hardship to them. Whether an Econ degree from Michigan is worth more than a Business degree from UIUC depends on your career plans. Some companies value the quality of the university more than the major, while others care more about the major. </p>
<p>For example, if you wish to work for one of the Big 4 as an auditor/accountant, UIUC Business is a far better option than Michigan LSA and as good an option as Ross. If you wish to work for a manufacturing company in the Midwest, again, a Business degree from UIUC will be a better launching pad than a degree from Michigan LSA, and probably equal to a degree from Ross. </p>
<p>However, if you wish to find a job with a zippy company in other parts of the country, like a Tech company on the West Coast or a major consulting firm or an Investment Bank, I think Ross will serve you better than a business degree from UIUC. Will a Business degree serve you better than an Econ degree from Michigan (LSA)? It is hard to say, but I would say either way, the advantage would not be significant.</p>
<p>Regardless, it boils down to what $110k means to your family. If your parents can easily cover the cost, you have a decision to make. If money is a concern, I don’t think Michigan (Ross or otherwise) is worth it.</p>
<p>Hope this helps.</p>
<p>"My family is full pay and we can easily afford both schools.</p>
<p>There is your answer Alexandre.</p>
<p>as a mother, I recommend UIUC over Michigan bc it’s in state. As a UIUC MSA graduate who makes a living on the east coast as a Finance executive, I don’t see any difference between the 2. When we recruit, other executives see Michigan and joke about the sports, that’s about it. Unless the kid is from certain ivy, yes only certain ivy, which school the kid is from is so irrelevant. we all understand kids go to state flagship school for sensible reasons, and as long as they have good GPA, why would w3 care whether it,s Michigan or Urbana Champaign?</p>
<p>Sent from my Nexus 7 using CC</p>
<p>Thank you Alexandre! An insightful analysis as always. </p>
<p>It looks like I have a difficult decision to make. I guess it really comes down to what I’m looking for in a career and whether I’m willing to take the risk on Ross.</p>
<p>Bearsgarden, that’s an interesting perspective. You’re echoing my Dad’s thoughts pretty closely. I’ll take that into consideration, thanks.</p>
<p>“When we recruit, other executives see Michigan and joke about the sports, that’s about it.”</p>
<p>Please enlighten us about the prestigious firm you work for.</p>
<p>both are great schools. if you are michigan resident, i will advise the opposite. since you will eventually be a finance person, just wanted to put the saving in perspective. $110k difference after tax, before tax it’s most likely $180k. We typically offer new undergrad accounting major $55k. Say you are a financially conservative and save $10k a year, believe me, this is very difficult, it will take you many many many years to regain that. I am not even factoring the future values… On top of that, UIUC, UM, grads get the same starting pay, which really means you never get the money back. </p>
<p>just my 2 cents. good luck and congrats on being admitted to 2 wonderful schools. talk to your parents.</p>
<p>Sent from my Nexus 7 using CC</p>
<p>UM and UIUC grads get the same starting pay assuming they land the same job, sure. But it should be noted that more UM grads do go to higher paying fields (consulting, ibanking, etc). </p>
<p>Thanks for the advice. I really do appreciate it</p>