<p>I'm a high school senior debating on either UChicago (economics major) or Berkeley (pre-business). For UChicago, I have to pay FULL sticker price (63K/year) while Berkeley costs $30-35k/year. For UChicago, my parents have enough saved to last me for three years, but in my senior year they will have to take out loans. For Berkeley, my parents have enough to pay up front and not take out any loans whatsoever. However, I'm assuming that I'll graduate Berkeley in five years instead of four due to the overflow of students and massive state budget cuts.</p>
<p>At UChicago I will join the Chicago Careers in Business (CCIB) and do their financial markets program, while at Berkeley I will have to apply for Haas my junior year. My concern is that at Berkeley I won't be able get relevant internships because there are so many students there (Berkeley has 25,000 undergrads; Chicago has 5,000) while UChicago has really stepped up its career services.</p>
<p>There's also the prestige factor: Berkeley and the rest of the UC's are going down the drain as California pulls more and more resources out of the UC system. UChicago, on the other hand, seems to be on the rise, currently ranked #5 (four-way tie) and in the process of adding an engineering school.</p>
<p>So my question is: Would going to UChicago be worth the extra ~100k?</p>
<p>CCIB and FM are not that competitive. If you have an interest in business at all CCIB will do its best to place you. FM is a little bit more focused on quantitative thinking so if you are willing to take math classes and explain to the director that this is your thing, he’ll make exceptions; that said they are both time commitments.</p>
<p>To OP: my high school friends who have gone on to UCs have done just fine getting jobs. If your only focus is getting into Banking I don’t know if the UofC price tag (especially if you’re paying full) is worth the call. That said, what you are paying for: the core, the intellectualism, the smaller classes, the professor-student relationships, etc. is what you should be weighing. The banking mix is fairly even. I think Morgan Stanley, Citi and BOA recruit more heavily on the West Coast than at the UofC. Credit Suisse, JPM and GS have a pretty staunch recruiting presence here.</p>
<p>CCIB is definitely competitive. While it’s true that in the past it hasn’t been too bad, the new class is incredibly ambitious, and at the info sessions last week CCIB underestimated how many people would show up. FM is even more competitive. They only accept about 25 people into FM. So I don’t even know where you got that idea from.</p>
<p>Berkeley and especially Haas are not going down the drain. Budget levels are same…the source of that funding has changed, with more coming from students and private donations. </p>
<p>People are vocal about the reduction in education spending from the state and have tried to scare legislators into restoring public funding by saying programs will be cut. Berkeley has the resources to maintain its prestige and become more efficient with its money. They’ve reduced costs by looking internally at things that dont impact education quality…like energy efficiency, payroll systems, and equipment purchasing.</p>
<p>To DS: As somebody in CCIB who has talked to Margaret, Darrell and Carol, I was under the impression that CCIB is fairly lenient with placement provided that you are interested and focused on what you want. I have never known anybody who has been turned down from CCIB. Talking to Darrell, anybody who has a math background who told him about their passion for quant. finance has been allowed to get in provided they can show they have a pedigree for math (A in 160s, etc.)</p>
<p>This being said, the new class might be different. They might be adjusting policies. But even FM at 25 people isn’t exclusive in the ordinary sense because of the fact that at the end of the day only so many people are continuing to take math classes and actually push for quant. Finance instead of general business.</p>
<p>Interesting. Well people definitely do get turned down because there is a limit on class size…We’ll see how it works out this year. thanks for the info</p>
<p>It comes down to which one you like more and money, although Chicago will probably place better in I-banking. The business program is not difficult to get into at either school.</p>
<p><em>inserts obligatory snarky comment that references Greg Smith at Goldman Sachs</em></p>
<p>But seeeeeriously, letting a hypothetical outcome and hearsay (us) drive your decision is very deeply problematic. And it’s not just you and it’s not just banking-- it was me, too. When I was in your shoes I asked myself, “I want to be a scholar in a very narrow field. What’s the best school for me to do my undergrad?” and from there the University of Chicago stuck out among other schools. UChicago <em>also</em> provided a good social and personal fit, which was great, because when I did a 180 professionally I still enjoyed my experience.</p>
<p>As long as you are paying money, go where you think you’ll have a better experience. And I mean “experience” in all senses of the word.</p>