Hi, recently i was admittted to Stern(ED), and UMich(EA). As for financial packages, NYU comes out to around 65k/year with scholarship. UMich comes out to around 55k/year. Cost wise they are both expensive which makes it possible to leave my NYU ED contract. However, my parents still pay the cost for both. For Stern i was accepted into Business degree which, at Mich, I was accepted to Comp Sci and expect to transfer into Ross sophomore year. As an aspiring Wall Street Ibanker, would I find it easier to crack into the business from Mich or Stern? I’ve visited both and I think I’ll enjoy either campus life in mich or city life in NY. Overall, what seems like the better option for a Wall Street wannabe. I’m expecting a lot of the comments to be about not discarding my ED agreement to NYU but I’d like an answer for the Stern vs Ross debate first. Thanks.
- You have a commitment to NYU and can afford to attend. You are done with the college process…
- UM is risky if you want to study business and don’t have a pre-admit to Ross. I know many people who went to UM and then did not get I to Ross.
^^ NYU is the better option for you career wise and you have made a commitment. Case closed.
londondad, Ross and Stern are roughly equal where Investment Banking is concerned. Ross is smaller than Stern, has far fewer finance students and still places as many of its students in BB Ibanks.
ED is what makes this a case closed. The fact that the OP likes both NYU and Michigan equally, albeit for different reasons, makes it easier to settle on NYU too.
pokemon, as most of us will tell you, you should honor your agreement with NYU. Considering your interests and preferences, NYU will be just as good an option as Michigan anyway, so there is no point in taking the risk with Ross.
^ @Alexandre He mentions that he is “an aspiring Wall Street banker”. Therefore, career wise, there would be advantages to working in NYC as opposed to being in Ann Arbor, plus he would not have to apply to the Ross school in his sophomore year. Therefore, career wise, NYU is a better choice although both NYU and UM are top undergrad business schools.
By choosing the ED option, you relinquished the freedom to compare financial aid offers or net prices. The fact that they are both expensive, or that NYU is even more expensive, is immaterial. The only condition that would allow you to break your ED agreement would be if your family truly cannot afford to cover NYU’s net cost. If that is not the case and you proceed to break the ED agreement regardless, then you run the risk of having your other offers rescinded.
Costs aside, NYU is a marginally better option (due to the NYC location and the fact that you aren’t pre-admitted to Ross).
londondad, I read pokemon’s original post clearly. It get what he was asking. I stand by what I said. You obviously do not know much about Ross. Read about it, then you will understand it. It is one of the most heavily recruited programs by Wall Street. When it comes to Wall Street placement, Ross = Stern. Going to college in NYC does not provide an advantage. Just look at their respective placement figures.
If the OP had not applied to NYU ED, and if he preferred the Michigan campus significantly to the NYU campus, I would have probably recommended Michigan. There is a risk that he would not get into Ross, but if he got into Stern, he should be able to get into Ross if he puts in the time and effort. My recommendation would depend on how much more the OP preferred Michigan over NYU.
But he did apply ED to NYU, and he likes NYU as much as Michigan. As such, there is no point in (1) backing out of the ED agreement or (2) taking a chance with applying to Ross after Freshman year. NYU makes better sense given pokemon’s personal circumstances.
@Alexandre You are grossly oversimplifying the issue. As an aside, I have been working in investment banking for over 30 years in the US and UK. While I agree with you that the on campus recruitment of UM and NYU is probably similar, there are other ways to get hired for Wall Street than just on campus recruiting. In this regard, (which was the main point I was making above) NYU will be superior to UM in terms of networking opportunities and ability to get both summer internships and internships during the school year.
The ability to diversify one’s job hunting sources is very important in today’s market as Wall Street investment banking is essentially a dying industry. Therefore, waiting for on-campus recruiters to come to your school is a fool’s game.
londondad, I will not pursue discussing this issue at this time because like you, I recommend NYU to the OP, albeit for vastly different reasons. Perhaps we will have the opportunity to share valuable insight on the subject another time, when such an analysis is warranted.