<p>I have been directly admitted to the Kelley School of Business; however, If i choose to go to Indiana, I will be an OOS student and money will be a problem. I will have to take out a lot of money in loans, and I was wondering if a major in finance would allow me to pay off my debts quickly after I graduate. I am very determined to excel where ever I choose to go to school, so basically what I am asking is if the job outlook after graduating from Kelley is promising?</p>
<p>I’m going to forward you the stereotypical response - no degree can guarantee a job or a certain salary.</p>
<p>I can tell you, however, that Kelley has a fantastic reputation in Indiana (and I imagine elsewhere). I’m in state so I can really only speak for the companies around me.</p>
<p>Good luck with your decision!</p>
<p>One of my neighbors’ sons is a Kelley graduate or worked down there and he told me that Kelley is really good with job placement - its not finding a job that is the problem it is choosing which one you are going to go with is what he told me. Bloomington has a great location for internships because it is an hour away from Indy and then Indiana in general is pretty close to anywhere, maybe besides the west coast. Honestly though it all comes down to what school you think will work best for you. I know I am personally choosing IU Kelley over the Uni. of MN because I liked the campus and environment more (along with being instate). Also did you apply for scholarships. I know for a lot of people in IL the tuition is cheaper at IU because of the scholarship money and so forth. But good luck with your decision making :)</p>
<p>What’s your cheaper alternative?
A huge amount of debt is never a good way to start out in life.</p>
<p>Come to IU so that your tuition will subsidize my education.</p>
<p>I am in a similar position. What are your other options?</p>
<p>When you say you will have to take out a lot of money in loans, can you give us a ballpark idea of how much over the 4 years?</p>
<p>The reason I ask is because there is a huge difference between realistically paying off $20-30K and paying off $80- 100K. If you are in the latter group, despite how good a school Kelley is, no undergrad degree is worth that. Payments on that amount of debt will severely limit the choices you can make after graduation no matter how good of a job you get.</p>
<p>I would be in debt around $80-100k after graduation. My other options are to go to Michigan State which is instate. Or hopefully I can get into UMich which has a really good business program and is instate, but currently I am waiting to hear my decision after being deferred. So basically, IU isnt worth the debt?</p>
<p>I would just go to Michigan State. What is your major? Accounting is rated very high at MSU and Kelley. MSU a bargain for the in-state price. You could probably cut the price of IU in half if you got fifty or sixty credits at a community college in Michigan before coming to IU and applying to Kelley. But most people would not consider doing that because they want the big college lifestyle for four years.</p>
<p>My major would be finance and I know that Michigan State is not very good in finance.</p>
<p>What do you want to do within finance?</p>
<p>IMO the difference between MSU and IU is not worth that much money - save the money for your MBA!</p>
<p>My son is at IU but we lived overseas when he applied and he was out of state everywhere - IU with a scholarship was a bargain for us!</p>
<p>I will probably want to do something in investment banking, but im still not fully decided</p>
<p>If you want to do investment banking, you should strongly consider IU. </p>
<p>If you are able to get an analyst position in New York/Chicago then your starting salary should be able to help you pay back the debt.</p>
<p>$70,000 - starting salary
$10,000 - signing bonus
$40,000 - 60,000 year end bonus
$120,000 - $140,000 all in first year compensation.</p>
<p>However, cost of living in NYC and taxes will take out a chunk of that.</p>
<p>As you can see, your compensation will help pay down the debt. But, you should only choose IU if you know you want to become an investment banker. Anything else and it would be better to attend MSU.</p>
<p>I-banking at IU is extraordinarily competitive. Something like 30 kids are selected for the workshop. Even past college, it extremely difficult. Sure the starting salary could be 120,000 if you get the right job; you do, however, have to realize that those positions are insanely rare. </p>
<p>It’s not a guarantee, but I suppose nothing is.</p>
<p>Also realize i-banking will suck your free time away and you will have no life. I would go to MSU because the discrepancy in debt is significant. However, it’ll ultimately come down to what you want to do and how you perform in school.</p>
<p>If you don’t get into UMich-Ann Harbor this year then I’d attend UMich-Flint, UMich-Dearborn, or Michigan St with hopes of transferring into UMich-Ann Harbor. An alternative route is see if there is any community college that has a very strong relationship with UMich-Ann Harbor, as in guaranteed admissions if you maintain a certain GPA at the CC.</p>
<p>Indiana University is not worth the $80k - $100k debt. If you were a direct admit to the Kelly School of Business AND guaranteed a spot in the financial workshop than that’s a different story.</p>
<p>As a grad of Kelley Finance (albeit back in '99), and having went on 12+ interviews at the placement office then, and after having had 3 offers through those interviews…I would say this:
The only 2 majors worth choosing are Acct and MIS (or whatever the new word is). The reason is because there is ‘virtually’ no position/job that says “Finance major only”. However, there ARE jobs that say “Acct major only” and “MIS major only”. In other words, as a FIN major…other majors can interview for your slots, but you cannot interview for theres. Of course there are many slots that say “ACCT/FIN” etc, but you get my point. There is no advantage to being a FIN major. I got a job at Ford World HQ as a financial/budget analyst and don’t worry…FIN majors who take corp jobs won’t be doing any finance. Just report generating.</p>
<p>*<em>I can answer any other questions about Kelly, recruiting, grad school, etc. Just pm me. *</em></p>
<p>Hi Consultant IU,</p>
<p>your input seems well advised. i have two questions Re; Kelley
- can you double major i.e. biology
- a free ride to iu or ivy league school paying 25k a year (and for four years feeling poor)</p>
<p>thanks for any advice
murphy</p>
<p>Murphy,
- Anyone can double major. So yea.
- It depends on if your parents are paying! I would use this rule of thumb, I would always go Ivy if someone else is paying. If you are borrowing it yourself however, then I would go to IU and avoid the 100k in debt (at 4,5,6% interest) . That’s just not worth it for a BS.</p>