Let’s say I want a degree in “X,” which is a degree that generally makes a lot of money. Let’s say I get into University “Y,” a top-rated university, but it does not offer degree X. In the long run, would it benefit one more to get a great degree or go to a higher ranked school?
In case you were wondering, this is about how I can’t get into Madison’s business program, but I think I can get into business programs for lower ranked schools.
Since the major is business, you may want to find out if there are career outcome survey results for the business major and your alternative majors at each school.
Are you really set on the major? That’s what it comes down to.
I think it depends on the major. My general advice is usually to go with the college. College is about so much more than your major, and your career interests (and thus earning power) may change so much in the next 4-6 years. I know lots of people who went into college thinking they were going to work in some high-paying career and actually ended up doing something else.
For certain business fields, like management consulting or investment banking at top firms, where you went actually matters more than what you majored in. For example, it might be easier for a Columbia English major to go into management consulting at Bain or McKinsey than it woudl be for a business major from a regional state school.
Lastly, whether business majors make “a lot” of money depends a lot on which business major and what they do. Recent college graduates who majored in business average about $40-50K (business management and marketing are at the lower end; accounting and finance are at the higher end). Mid-career, business majors average in the $65-85K range.
I’d say go with the college.