Northwestern vs Carnegie vs NYU Stern

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 steller 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.

I would appreciate any advice. Thanks

Your information about Pittsburgh is dead wrong…dreary? Tepper is “decent”???

You have lots of assumptions in your post throughout that are dead wrong.

Northwestern places as well as most Ivies in to IB and is at or near the very top at placing in to consulting.

I’m surprised that you didn’t look in to MMSS at NU. Grads from that program place very well. The good news is that you can still apply to join it after going to NU (and it’s not very difficult for NU students to get in to). Kellogg also has a Masters program (with fin aid that meets need) that’s only open to NU undergrads.

An MBA may or may not be wanted, but whether you studied business as an undergrad shouldn’t determine whether you get one. HYPS, NU, Chicago, Duke, Dartmouth, and Columbia all both place well and have many grads who do well on the Street and consulting despite having no undergrad b-school. Also, MBB consulting firms pay for an MBA for their employees.

Given your choices, I know which would make the most sense from a cost-benefit perspective to me.

OP, for investment banking specifically, NU & NYU Stern > CMU & Vanderbilt

Regarding NU vs. NYU, see below some links that might be helpful:
http://www.wallstreetoasis.com/forums/nyu-stern-v-northwestern
http://www.wallstreetoasis.com/forums/stern-100k-120k-in-debt-vs-northwestern-no-debt-vs-cornell-no-debt-undergrad

Since NU was your original top choice, I don’t think it’s a bad thing to stick with it. Just my opinion

To echo PurpleTitan, look into MMSS if you enjoy quantitative analysis. Below is placement data on recent MMSS grads:

http://www.mmss.northwestern.edu/undergraduate/employment-placements.html

Most kids going into consulting and banking are not MMSS, so you shouldn’t feel left out of not doing MMSS though.

I think you’re looking at NU or CMU, with U-Dub and Vandy as excellent back-ups.

  • NU places very well in IB and Consulting and is ~$20k per year
  • CMU does not place as well, but apparently it's possible, and it costs only $8k per year.

NYU is a big gamble financially. What if you change your mind and decide against going into Finance? Do you like NYU for anything other than Stern? And even if you did make it onto Wall Street, you’d have some $150k to pay back – to your parents, who likely won’t tighten the screws much, but still – that is a lot of money.

Vandy and Wash are also excellent, far more affordable choices – just less likely to get you placed on Wall Street.