At IU, that’s what he would do. At Loyola and UMass, they are in the biz school. However, we have researched and there are definite benefits to being in certain SM programs, including specialized study abroad/away, special networking events, etc. There is a reason that schools are offering more industry specialized biz degrees, such as in media/entertainment, healthcare, fashion, sports, etc.
It is just a different outlook. For some that don’t have an affinity to any industry, a jack-of-all trades general biz degree might be fine, just as a couple generations ago a general 4-year degree was fine.
They were the first to develop an undergraduate and have a strong (and very competitive) sports analytics.
We went on an Orange day, and there was a whole session within Falk about SM and SA. I liked the design of the program and the capstone (one semester senior year – like a practicum on steroids), lots of activities too. Of course, it’s always all the gloss, right? It was a weekday event (President’s Day), so a lot of families there were from Northeast, so in the group for the Falk session were kids that gave off that NE competitive vibe, but I could have read them wrong.
Campus was lovely, and they’ve done a good job with COVID. Campus has a great vibe, but others might too if we could have gotten to see them pre-COVID.
Honestly, though, after being on some virtual sessions with Miami, their program looks just as robust and serious. Also, there is a lot more crossover and collaboration with Farmer (Miami’s biz school) than Falk has with Whitman.
What programs is your D looking at? feel free to PM me.
I’m following this thread for my D who is similarly debating whether to pursue a specialized degree in Hotel Administration/Hospitality Management vs. a more generalized degree in Business. D has applied to and been admitted to schools that fall into both categories. She is still waiting to hear back from others. She very much wants to go the specialized route but understands there are risks. We know that many in hospitality management do not even attend college, but that is not an option for us. The Sport Management degree vs. general business degree discussion is helpful. Tough call.
Yes there’s a reason. And the reason is that you can charge more for a specialized program, because parents will dip into retirement, take the HELOC, and dig deep into the sofa cushions under the illusion that a specialized degree means a “sure thing” after graduation. These programs are profitable, they don’t cost that much more to run than a traditional degree in economics, finance, etc, and it’s much easier to market the programs when colleges are coming off a tough year or two financially.
I interviewed hundreds of young people (both for first jobs and for second and third) after 2008. If you weren’t closely following the labor markets during that recession it is easy to see 2008 as a historical blip. It wasn’t. It impacted the class of 2009, 2010 and 2011; companies pulled back on hiring targets for several years; there is now credible longitudinal research which shows that graduating into a recession impacts income, job satisfaction and long term financial stability for over a decade.
2008 would have been “shocking”- except that it was a lather/rinse/repeat of 2000/2001/2002. Which itself was a repeat of various ups and downs in the 1990’s and 1980’s.
Miami is outstanding btw… a well regarded, rigorous place. I’d pay more for Miami based on your choices. If it isn’t more- it’s a no-brainer IMHO.
I would go with the first three options on your list. It should be driven by what type of entry job placement your son will get among the three. I work for a major global corporation and we do dabble in to sports leagues.
I think unless your son is the exception where he gets a great entry position ASAP and is mentored up the ranks, he will likely need an MBA. If he’s in the latter camp, you’d want to save the $ and make sure he gets into a solid MBA program—the elites like Kellogg’s or Harvard, etc— after a couple of years of working. He could go back part time.
Yes - D is bringing in AP credits and should be able to double major. It’s a good suggestion we have mentioned to her as well. Also most, but not all, of the specialized programs she is applying to are housed within accredited business schools. Some of the larger schools do have a separate School of Hospitality Administration that is not affiliated with their business school. And, some business programs do not include hospitality at all. It is a lot to consider.
It is a lot to consider and tougher, imho, than if they were going into traditional known-quantity fields like engineering or finance. However, probably like your daughter, son considered a lot of fields I’ve thrown at him over the last 4-5 years, but this field is where he gets excited.
Interested to hear what happens with your daughter.
Thanks. I sat in on the Farmer virtual session, and was just as impressed as I was when I did the SLAM (sports leadership and management) session. MiamiU makes the most sense at this point. That he can come out with a Masters in Economics or Finance in 4 years makes the most sense without knowing what the final bill would be for 'Cuse or if Rice might provide FA (hear they are more generous). Rice just announced a business undergraduate major for Fall 2021, so that is another data point we now have to consider.
Yes - this, exactly. Hotel Administration/Hospitality Management is the only field that D is interested in. Even the regular business programs may be a stretch. I will be interested in hearing what your son decides as well!
I also wanted to add my own plug as a Syracuse alum. I went for undergraduate (Newhouse/A&S) and law school, DH went for undergraduate (accounting) and both BIL’s for undergraduate and one for doctoral. Lots of Orange!
Granted, it was a long time ago but I couldn’t have asked for a better college experience (I may very well have had that “NE competitive vibe” though ). Maybe SU will come through with $$$ for your son. They actually gave me the least amount of aid coming in but I had to have Newhouse! Nothing else compared at the time. SU came through with additional scholarships after freshman year, and also fully funded law school, which was simply unheard of back then.
I have friends with kids there now who are very happy, but not in the Sports Management program so I can’t provide much insight. They discontinued their Travel and Tourism program, so D did not apply.
Will be interested to hear an update once your son hears back from SU about merit. He has some great options.
Well, S21 was rejected at UMich and waitlisted at Rice and Syracuse. UPenn is likely to be one of those as well. Acceptance there would be a whole other discussion.
UMIch and 'Cuse were gut punches that added to the not great mindset that S21 is in this year. He has been hit hard like many of his peers, but maybe harder? IDK, he is my only senior. He is having a hard time with Miami OH despite the cost savings. S21 wants strong sports and name recognition. He admitted that it is arrogance and ego, but worries about prestige of the school.
Unless there is some major change in finances, we could do IU-Kelley, Loyola-Chicago, SLU, or UMass with him taking out the loans and maybe be able to help him pay off those loans after graduation, but I’m trying to find a reason that we should. I even worked out the total cost, assuming 2% increase in COA at the others (MiamiU won’t increase for him). The difference runs from $70K more for UMass to $106K more for IU-Kelley!
Anyone out there make the case that any of those others are worth the extra cost or that Miami OH isn’t worth the “bargain”? ROI is top 10 for business per P&Q, and starting salaries for all of these schools look to be within $10K of one another, but alumni networks, recruitment, general student experience are variables I cannot really tell.
I feel like he should be making the case to us instead of tired ol’ mom making the case to him, but here I am. LOL!
Miami OH is a gem. I don’t know any student who went there and didn’t love their experience. They are also all gainfully employed. He’s got a great affordable acceptance at Miami. Congrats!
Tell him to get on the accepted student social media pages, buy him some swag, and celebrate.
No loans is a HUGE gift you are giving him and yourselves.
Start cutting out pictures of things $106k could buy - a sports car, a vacation to Nepal, tickets to the Superbowl…leave these pictures in the bathroom, on the coffee table, near the car keys. Your son will get the hint.
No loans is a HUGE deal. $100,000 works out to over $1000/mo for 10 years - that’s a big chunk of money for anyone. He may not be totally thrilled with Miami OH but how thrilled will all of you be if he has to live with you after he graduates because he is saddled with that debt?
Right? He wouldn’t have those loans, just the $27K, which is still debt, but still. If Miami hadn’t been so generous, I’d feel pretty fortunate to get the merit at those other schools and come out just a smidge over the budget I had in my head at the start of this process. I’d rather give a chunk of that cost savings to him at graduation and allow him to participate in “extras” during his time in college than give it to a university.
He may not have to pay for it but someone does. If you are willing to do it, you are better than me Personally, I would not pay the additional $70K+ if he has another option. “Help” maybe, but not do it all.
It’s not just the extra cost of higher priced universities, it is the opportunity cost of that money. For the sake of easier math, say the difference in cost over four years is $100K. Let’s, for the sake of argument, say you saved that money. On average, savings double every seven years. In fourteen years, that $100K is $400K. But…if you spent it and borrowed the money…well, you get my point.
). Maybe SU will come through with $$$ for your son. They actually gave me the least amount of aid coming in but I had to have Newhouse! Nothing else compared at the time. SU came through with additional scholarships after freshman year, and also fully funded law school, which was simply unheard of back then.
Personally, I would not pay the additional $70K+ if he has another option. “Help” maybe, but not do it all.