I want to go into IB or consulting after college. I got accepted into Ross as a pre-admit, I got Regent’s Scholarship at UC Berkeley and I would apply to Haas my second year. I also got accepted into UChicago but as the class of 2026 so I would have to take a gap year, but I would probably do econ there. I would pay in-state tuition for Berkeley, but I would pay full tuition for UChicago and Ross. I’m not sure which school I should go to so advice?
Here is an old thread about IB recruiting at UCB: Economics for Investment Banking? - #6 by triplectz
How much does the price difference matter to you and your family, and how much would need to be borrowed? Remember that you can only borrow $5,500 first year without a cosigner (increasing slightly in later years).
First, you have to understand that IB and MC is difficult from any school. I don’t see any value from UM. Going to a school that has direct entry into the business school and you don’t get direct entry isn’t a good idea especially OOS. Chicago Econ (reg not bus) is going to be very different. It is very math heavy. What does the difference in tuition mean to your family?
I can pay full tuition, but it’s still something that I want to consider as I’m not sure if it’s worth it.
I actually do have direct entry into Ross at UMich, sorry if that wasn’t clear. I can pay full tuition, but it’s still something that I want to consider as I’m not sure if it’s worth it.
Since they are all great schools, this is a tough decision. With UC Berkeley, if you don’t get admitted to Haas in your junior year, there is always the backup plan of majoring in economics. I know of someone who majored in economics and minored in math and graduated from UC Berkeley. This person accepted an offer from Goldman Sachs but was going to apply to medical school. Subsequently the person was admitted to medical school, but declined the acceptance to medical school. GS paid for the person’s top tier MBA and the person was making a huge salary. Since you are already accepted to UM Ross, you have to decide if it is worth the additional costs? I think you are smart enough (you earning a Regent Scholarship) to get into Haas and do not have to resort to the backup plan.
Why pay full tuition if you don’t need to. I’d say that even if your choice was a second tier school - like Indiana or Texas…but you’re talking about elite, elite, or elite. Save your $ and go to UCB.
I guess, if you want a smaller, more personalized experience then Chicago - but again, and you didn’t show the savings - but it’s likely significant - so go to UCB.
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“Elite, elite, elite” is what IB is all about. If you can afford it, go to Michigan. Michigan Ross is a target school for IB and you’re already admitted. You have no guarantees you’ll get into Haas. Take the sure thing if you are able to swing it.
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UCB is also a target school.
Investment Banking Target School List (Using Data) (peakframeworks.com)
In the end, the career is hard to get but make sure you want it. Young kids today care about what a company stands for and don’t necessarily want to have their lives consumed.
This is the life you are asking for…
It is a target school, if the OP gets into Haas.
All three are target schools for IB. My D from UChicago and several of her friends are joining bulge bracket IB firms in NYC.
Target Schools
Target schools are schools where the vast majority of top banks conduct on-campus recruiting or specifically allocate spots for that school. Each target school is going to have multiple school alumni across all of the top banks. There’s going to be several people for you to reach out to at each firm and there’s a good chance that you have alumni at the junior, mid, and senior level.
Based on our assessment, there are 16 target schools nationwide, but even this list is pretty top heavy.
Frankly, there are a couple of schools that consistently dominate investment banking. They have multiple analysts at every single firm. The data says it and it was definitely my belief from working in investment banking in New York.
- University of Pennsylvania (Wharton)
- New York University (Stern)
- University of Michigan (Ross)
- Harvard University
Wharton, Michigan, and Harvard are the only schools that have representation at 100% of the top firms.