Northwestern vs. Carnegie Mellon and other similar schools

Hey guys, I’ve just finished the whole college application ride and finished with some pretty decent selection. I’ve been struggling to come to a conclusion and I have narrowed my acceptance choices into six schools: Northwestern (Weinberg), NYU Stern, Carnegie Mellon (Tepper), Vanderbilt (CAS), UCLA, and UW Seattle (Foster Direct) (my state flagship). Depending upon the availability of a business school, I was planning on majoring in Business Administration with a potential concentration in finance/accounting, since I plan on working in either consulting or investment banking. At schools without a dedicated undergraduate business schools (NU,UCLA,Vandy), I was planning on majoring on some sort of combination of econ/math. That being said, an undergraduate business school is definitely a plus since it makes a MBA optional. Financial aid is a plus, but not mandatory (I’m low income, but can afford to spend). I’ve already begun forming opinions, and would appreciate any input.

Northwestern: Northwestern was my original top choice, with a decent college community (Big 10) and a real college social scene. Combined with its prestigious reputation and proximity to Chicago, I thought it would be the best decision. However, the lack of a dedicated business school for undergrads and my specific major have my parents thinking that NU might not be the best decision for my professional career. While I know Kellogg has an undergraduate business certificate and NU economics is one of the best in the nation, I’m not sure if that program would be a suitable replacement for i-banking for.
Weather wouldn’t be a problem; I’m used to the cold. In terms of financial aid, Northwestern was quite generous with around 50k a year, leaving me to pay around 20k a year

Carnegie Mellon: In terms of a professional/career focused environment, I don’t think Carnegie Mellon can be surpassed. Their business program is decent and CMU’s overall reputation on Wall Street is solid, with high starting salaries. However, I’m a little apprehensive about the rumors of CMU being a factory of sadness within a dreary Pittsburgh. I’m not super social, but I would appreciate some school spirit. But in terms of finance and my career, my parents think that CMU might be the best option, especially if I wanted to pick up some CS skills/minor. Financial Aid was awesome, 60k a year, 8k left out of pocket.

NYU Stern: My parents have been pushing for me to select NYU Stern, due to its elite undergraduate business program and great placement into Wall Street and i-banking. I’m neutral on living in a big city, and I’m not a big fan of the lack of a cohesive student body/campus. However, in terms of curriculum and career goals, Stern would be the best fit, as I want to focus on finance. However, I’ve heard that Stern is extremely competitive and cutthroat, with the curve hurting a lot of students. Also, rent in NYC is a nightmare and while I want to work in finance, I’d like to have options as well. Financial Aid with NYU Stern wasn’t stellar either, with only a 30k scholarship, with around 40k+ out of pocket… My parents have volunteered to pay because they think its a prudent investment to study near Wall Street, with the expectation that I pay them back in the future.

Vandy: Vandy was another school that I was pleased to get into, due to their excellent undergraduate focus and happy student body. However, I am worried that I wouldn’t fit in well. While I appreciate a moderately social scene, I’m not big on rushing or a student body revolving around Greek Culture. Also, I’m an Asian from Seattle WA, so I’m not sure that I would fit in at Vandy or Nashville. In terms of academics, I feel that I would like the less competitive nature, but the lack of a undergraduate business program is a con. Vandy economics/math is decent though. Financial Aid from Vandy was also awesome at 61k a year.

UW Foster: UW is my state flagship and I was directly admitted into Foster, and I’d love to stay at home since I love Seattle and keep the relationships that I’ve built. I’ve always said that if UW Foster continued to improve to around the level of ar UCB Haas, then I would go without a second choice. However while UW Engineering and Science Departments are elite, Foster still lags behind elite levels in terms of quality, prestige, and placement. I love the culture though, and still would get a decent education in the major I wanted. The instate cost is the cheapest (about 6k a year after scholarships/grants), but not by much compared to Vandy or CMU.

UCLA: UCLA would be an awesome place with an awesome student culture and location. However, Anderson doesn’t have any undergraduate offerings, and I wasn’t given a lot of financial aid, earning a 25k scholarship, leaving 35k left out of pocket.

NU Econ majors go into all the banking jobs you were talking about at very high rates. Based on that, you could easily claim that the program is indeed a good fit for banking. In addition to the Econ major and Kellogg certificates, there’s an Industrial Engineering major you could look at. Many students from that program go into banking as well.

Industrial Engineering (IEMS) link: http://www.mccormick.northwestern.edu/industrial/

Take a look at NU’s career service’s website if you want to explore more about jobs for NU grads: http://www.northwestern.edu/careers/

NU class of 2011 with a BS in chemical engineering here.

With that said, I’ll first tell you that I know a number of people who went into i-banking and MBB/Deloitte/Accenture consulting out of NU undergrad, and I personally had consulting interviews and made it to the Super Saturday (after like 4 rounds of interviews) of a Chicago based PE firm while having zero business/finance experience whatsoever. I ultimately decided to use my engineering degree for a few years and I went into big pharma, but I will be attending a top 5 full-time MBA program starting this fall.

Choose the school where you want to live for at least 4 years and where you can study exactly what you want to study, but in no way does NU’s lack of an undergrad bschool hold students back from typical bschool jobs or a graduate MBA acceptance.

RedGeneral: Congratulations on the fantastic acceptances. You do indeed have a tough choice to make. Since I am most familiar with CMU, let me just say that if you are comfortable with and / or desirous of a quantitative approach to things, especially as it is complemented by CS, then CMU is a great choice. Also, as a native Pittsburgher, I take exception to the characterization of the city as “dreary” (haha). Actually, if you look it up, the only city with more cloudy days than Seattle is Pittsburgh! But seriously, CMU will not give you the big time college sports atmosphere like NU, VU, or UW, but you can find fun here certainly, and if you really want big time sports you’ve got the Steelers, Penguins, Pirates, and Pitt. CMU would definitely give you a leg up on consulting because of its quant orientation, but probably NU and NYU have better inroads to IB. Although David Tepper, who is the richest man in either CT or NY (I forget) is a CMU alum, the bus. school is named after him, and they are building a big new building which will become the main entrance to the school and also the new business school. Best of luck to you and great job with your college search.

I recommend NU for the strong network in business:
http://poetsandquantsforundergrads.com/2015/06/01/the-best-alumni-networks/2/