Hey! I have been accepted to both of these universities but have no idea which one to choose… I plan on studying business at the Olin Business School at WashU and if I was at Tufts I would major in Economics/QuantEcon. I want to get a job in consulting or finance out of school. I was very impressed by WashU’s placement; however, I feel like being in Boston would be better. But, I don’t know how well Tufts does with students who want to go into business since they don’t have a business school. Then again, I know you don’t have to study business undergrad to get a job in the consulting/finance sector. I think the vibe is similar at both universities and cost is not a factor. I am also concerned with international rep as I definitely want to work abroad/in international business. Surprisingly when I looked online at world rankings WashU was higher than Tufts, but I would think Tufts has a better rep? Sorry I totally just spewed words haha but if anyone could help me I would appreciate it SO much, as the May 1st deadline is fast approaching…
They are both great schools, so you can’t go wrong.
Personally, I would probably favor Wash U.
My advice is to go to whichever school you think you would be happier at.
Lot’s of econ majors at Tufts go on to consulting firms. Tufts is not a business school but many if not most business professionals do not have an undergrad business degree. If you are looking at international Tufts has Fletcher and a big rep in IR. DD has friends working overseas for consulting firms. WashU is also a great school. You have two good choices, visit and pick where you like the vibe. WashU is more friendly mid-western vibe, Tufts is more east coast hipster.
We have had family members attend both schools. There are some similarities in culture. Wash U is more pre-professional (bigger engineering, business, pre-med) and a more competitive “work hard/play hard” type of culture. Tufts is more “liberal artsy”, find your passion, “learning shouldn’t be work/play shouldn’t be hard” type of culture. Both are friendly. Wash U tending toward more social, Tufts tending toward more inclusive.
In terms of location (i.e. financal centers): Tufts has NYC, Boston and DC, Wash U has Chicago. Tufts is a subway ride away from Boston’s Financial District, so you can hold down an internship during the school year. (My daughter continued to work downtown 20 hours per week diuring her first semester senior year). New York City is a 4 hour bus ride from South Station. DC is reachable by train or plane (usually inexpensively). Proximity makes interviewing easier.
https://en.wikipedia.org/wiki/Global_Financial_Centres_Index
In terms of best major: The Econ vs. undergrad Business debate is interesting. The “traditional liberal arts model” is
Econ undergrad followed by an MBA. The flip side is a stand alone undergrad business degree or undergrad business plus MBA. The top tier of the industries you are talking about tend to require an MBA. The entry level jobs for undergrads tend to be 2-3 year internships in a support role after which one leaves to get an MBA and then returns. Many drop out along the way. My personal bias is toward Econ undergrad or a “more liberal artsy” business program.
I think it makes for a better compliment to an MBA and standalone it pays bigger dividends over the long run. I base this opinion on an analysis of salary data I performed to assist a similar decision for one of my kids. For top schools that have both undergrad business schools and Econ, Econ majors started at a lower salary, but by mid career had higher salaries.
In terms of Tufts and a business career: For a number of years, Tufts was one of the top schools (independent of size or degree programs) for producing Fortune 100 CEOs (there were 4 at one point - including 2 women). One was CEO of Aramark when it was voted one of America’s most respected companies. One is currently CEO of JP Morgan which was considered the most respected financial company during the recent financial crisis. All of them also have an MBA from a top school. Tufts Econ department also produced the 2013 Nobel Prize winner in Economics- Eugene Fama. He may be the only Econ Nobel Prize winner who performed undergrad research in the same area he won the prize.
In terms of job placement directly out of school: About 10 years ago a group of Tufts Alums in the Finance Industry (most with MBA’s) got together and formed the Tufts Financial Network with a goal of better preparing Tufts grads for direct entry into the Finance Industry. They funded professors with industry experience to create a minor in Finance, created Wall Street Boot Camps, funded an investment club, brought in guest speakers and held recruiting events.
In 2015, the Tufts Investing Club beat teams from the two well known universites down the street in a national investing competition.
http://emerald.tufts.edu/alumni/tfn/
http://tuftsfinancialgroup.com/
http://talk.collegeconfidential.com/tufts-university/1795647-tufts-investment-club-places-first-in-national-investing-competition.html
In terms of outcomes, three business related grads have made the Forbes 30 under 30 list in th elast three years.
One manages Katz’s Deli in NY, one founded a high impact non profit, and one co-manages a $9B portfolio for J.P. Morgan. The majors that tend to place the most people into finance/consulting are Quant Econ, Econ and IR. There is also a minor in Entrenprenurial Leadership (the most popular minor) made available through the Gordon Institute as well as the Finance Minor. The Experimental College often offers business courses taught by local industry executives
(including the former GM of the Celtics) and the CS department offers an interdisciplinary course in Game Theory. It is also possible to take courses in International Business at the Fletcher School.
http://gordon.tufts.edu/programs/entrepreneurial-leadership-programhttp://www.excollege.tufts.edu/courses
http://fletcher.tufts.edu/MIB
The majors that tend to place the most in Finance/Consulting are Quant Econ, Econ, and IR, although it is possible place in these fields with an appropriate minor, coursework, and outside activities/internships.
Here is a recent list of outcomes by major:
https://students.tufts.edu/career-center/explore-careers-and-majors/outcomes-major
Best of luck, and feel free to ask more questions!
My son graduated from Tufts. And my daughter is currently at WashU Olin. Both loved their schools. The vibe at both schools are very similar. WashU is a beautiful school and is a little bigger then Tufts. We’re from NYC area and I’m hoping that my daughter comes back after she graduated. So far she’s had internship starting summer of freshman year in NYC. She also wants to do consulting. My son had a lot of friends as Econ majors. All got great jobs on Wall Street and are doing very well. I dont think you can make a wrong decision here. Go with the school that you think you’ll be happiest at. The only thing I would say is that in my experience the advising at WashU has been far superior to Tufts. I wasn’t thrilled with Tufts advising. I thought it was pretty much non existent. But maybe that was just my son’s experience. At WashU my daughter has bunch of advisors and they literally hold your hand through all the major decisions.
Our daughter graduated from Tufts as a psych major and loved it. She had great advising and is doing very well working in NYC for a digital marketing company. An extended family member graduated from WashU (not Olin) and liked it (other than her roommate being robbed at gunpoint) but did not have very good advising or very good luck on the job front. She eventually ended up in grad school though, and it worked out well.