<p>For the individual student, the answer to this question could be all over the place. I think we all know of students who go to "elite" universities and take relatively easy courses and coast thru their four years. We also all know students who go to the State U or some less "elite" college, take a very challenging package of classes and really work their tails off. IMO, whether you go to Northwestern or U Wisconsin or some other school, it's not going to matter that much as ultimately it falls back on you, what courses you choose and how you do. The adcomms at grad schools aren't dumb and they can figure this out pretty quickly. </p>
<p>Re your interest in law schools, your GPA is only a part of the equation and sometimes not even an important part. I'm not saying you can post a 2.5 and expect to get into a top law school, but I think that the adcomms are looking for more than just a grade grinder. For a top school, you're going to need the full package including LSAT, work experiences, and maybe some college ECs that could be of value in your applications. Also, the law school admissions folks are increasingly looking for students who have worked for a year or two before coming back to school (and it's more like 3-5 years or more for those going to MBA school). The point is that how you did in that freshman Western Civ class at ABC college is not going to be a critical element of their evaluation. Adcomms are looking for a progression in the development of the student and the person and the record and the potential for further growth and achievement. Clearly, you will need intellectual strength, but this can be displayed in more ways than just a simple GPA. In fact, I would say that it must be for the very best grad schools. </p>
<p>For investment banking, I suggest you have a Plan B. If you're reading the papers, it's pretty clear that Wall Street and the financial world are in one of their down cycles. Overall hiring is definitely down and, with the spread of red ink for many of the top hiring investment banks, headcounts are actually shrinking as folks get laid off. There will still be hiring as folks leave to do other things (go to MBA school, move to another firm or area of financial world, etc.), but if you thought getting one of these jobs was tough before, it promises to get worse in the next year. So, have a back-up plan because who knows how the banks will be hiring several years from now. </p>
<p>In how this relates to U Wisconsin and Northwestern, I think an individual student can have a great academic (and non-academic) experience at each of these colleges. I don't think that there is much doubt that the student body at Northwestern is superior, but that is not to say there aren't also many talented students walking around in Madison. Suffice it to say, depending on what you choose to study, you can be plenty challenged at either school. Your chances at law school will depend far more on your performance (including the LSAT and work experience) than whether you get a 3.5 GPA at one of the schools vs a 3.7 at the other. As for investment banking, Northwestern has a stronger profile and a more respected name overall and may provide you somewhat more opportunities, but it's not like U Wisconsin is not respected as well. Both (with edge to NU) might get you as far as the front door. After that, it is up to you and not the school to get the job. </p>
<p>Bottom-line, choose a school because you like it more and not because it gives you more prestige or some (perhaps inaccurately) perceived advantage in grad school admissions or postgraduate job opportunities. It's much more about you and I urge you to think where you will be the most productive and happiest for the four years because that is what really counts.</p>