<p>I hope to major in Finance and Mathematics and to pursue a career in consulting (ideally at a top-3 firm). I'm currently deliberating between attending Wharton at Penn or taking a full-ride at UNC-CH.</p>
<p>The two are approximately equidistant for me, and I could be decently happy at either. My main concern is the cost/benefit of Penn's network/prestige for job opportunities after my undergraduate.</p>
<p>Penn would cost over $200k. If I attend UNC-CH, I don't have to pay anything. Plus, UNC would let me to keep outside scholarships, so I would have at least $2k/year to cover other expenses (travel, books, etc.)</p>
<p>Financially, UNC is the clear winner. But I'm worried that my internship/job opportunities would be severely limited. So these are my real questions:</p>
<p>Is Kenan-Flagler (UNC's business school) well-known or at all prestigious (on a national level versus regionally)? Business Week ranks it in the top ten BBA programs (Best Undergraduate Business Schools 2011 - Businessweek), but rankings are very subjective.</p>
<p>After college, I want to return to the Midwest (potentially working in Chicago) instead of staying in the south. Since UNC is in the south and most graduates tend to seek jobs in that region, will my networking opportunities and job placement very restricted?</p>
<p>If I change my major from business, is Penn's "name" more or less important for a LAS degree? </p>
<p>If you want a portable business degree, its Wharton all the way but obviously finances are a concern. How much of a burden would $200,000 be on your family? Usually, it would be silly to spend that much extra money on a college education over a good school like UNC-Chapel Hill but a Wharton degree is one that will pay dividends for the rest of your professional career in addition to increasing your chances of getting an elite entry level job exponentially.</p>
<p>The son of a colleague of mine did his bachelor’s at Kenan-Flagler and did very well. He had summer internships in NYC at Goldman Sachs and Bank of America and had multiple I-Banking job offers when he graduated.</p>
<p>Did you win a Robertson or a Moreland-Cain? If so, those are very prestigious scholarships and are easily equally as impressive as going to Wharton. And to save 200K? If you are going to be in finance, please, do the math!!! Save your $ and go to UNC.</p>
<p>If Penn gave him no money his family has strong income/assets. If it’s doable, I’d go to Wharton. I think you’ll make far more than $200K more over your career.</p>
<p>Thanks to everyone for your responses! I’m very conflicted, so I really appreciate the input. </p>
<p>cltdad – Thanks so much. It’s great to hear a specific success story! Those are great companies, and I’m especially glad to hear about NYC. I would think Chicago would be less competitive. Is this correct?</p>
<p>jym626 – I am a Carolina Scholar. I suspect Robertson and Morehead-Cain are more prestigious. Do you think the Carolina Scholars program carries similar weight on a resume? </p>
<p>goldenboy8784, Waverly – Wharton is a stretch but not impossible. I got $20k in aid this year but expect to lose this next year once my sibling graduates college. We certainly aren’t wealthy, and our resources aren’t in “shielded” forms such as expensive house, cars, etc. Some of my friends have higher incomes but received significantly more aid since they live more expensive lifestyles.</p>
<p>UNC all the way dude. Take it from an MBA from a very prestigious international business program. The Wharton degree will get you your first job and so will the one from UNC. After that, it then becomes what you did in the real world that makes the difference. I work in finance and on two occasions earlier in my career guys with no college degree at all got jobs managing ME! I was grateful for their leadership and mentorship as they worked their way up the ladder from the very bottom doing every area of finance and get licensed along the way. I admit, this is not all that common. But after you get that first job, it is all about “What have you done for me lately?” After graduation you MUST prove yourself. The UNC degree will be just as good as your Wharton degree especially if it is combined with stellar sustained performance AFTER graduation. Let your folks put $200K in their retirement funds and go to UNC. Believe me they could use the cash. Who knows you might even get a job in NC where there are MANY financial related firms these days.</p>
<p>Thanks, OsakaDad! I really appreciate the perspective. Your mention of MBA programs made me think of another question. I know that MBA is more expensive than undergraduate. The top companies usually pay for their employees MBA’s, but if my first job is not at one of the top firms, is it possible that I would have to pay for my own MBA and ultimately spend more money? Or do most all employers have some sort of assistance for MBA?</p>
<p>now a days, most of the companies DO not pay for MBA education. Even if they do, you will not be able to take a leave of absence and go to HBS, for example. It will be one out of the million that they will make an exception. So, you cannot count on that, whether you go to Wharton or UNC.</p>
<p>My company paid for my MBA education, but they require me hold a job and go to night school. The choices of schools are limited so the MBA I received from a local school is worth very little, more or less wasted my time.</p>
<p>It comes down to finances. If you family can afford Wharton without debt, I’d go there in a heartbeat. Wharton carries enormous weight/prestige both in the US and abroad. Having Wharton on your resume will open doors for you through your life. That said, UNC is a wonderful school and if finances dictate that is the best answer, then go there.</p>
<p>Wharton carries an enormous prestige but only for your first few jobs. After that it’s all about you. BTW, I mentioned this before, the 2 Wharton grads that I know 35 years ago have not been successful as the one with the Upenn engineering undergraduate , he is the one with the Harvard MBA and is still working on Wall Street.</p>
<p>Sorry quaerens, but since I don’t work in finance I cannot knowledgeably comment on the competitiveness of job placement in Chicago. I posted my colleague’s son’s experience to dispel the common feeling on CC that a top ten program is the only path to a top outcome upon graduation. But if you want my speculation, I would suspect that competition for finance jobs in Chicago is still stiff. Most of the competition would come from graduates of UChicago, Northwestern, WUStL, UMich, ND, etc., etc. more than from Ivy league schools. But since all of these schools recruit students from all over, even they will have a good number that will want to return to their Midwestern roots.</p>
<p>artloversplus I work for a very large company and they do pay for MBAs. You can also negotiate taking Fridays off for school as well. They will also try to move you to the city where you want to take your MBA if they have any open roles available.</p>
<p>I do agree that a person’s ultimate success will rest on his or her abilities in the workplace, not their degree. However, a Wharton degree does do a lot to help you get your foot in the door for those first few jobs and if you can do well in those jobs, you will be on a great trajectory. In addition, even at my (advanced) age, my workplace still mentions Wharton pretty prominently in my background description. Your college will stay with your forever. If you can afford Wharton, I’d go. If it is a financial hardship, then UNC debt-free must be considered as an attractive alternative.</p>
<p>With a Wharton degree you won’t need an MBA. And I disagree that it’s only going to get you your first job. What it gets you is one of the most powerful global business networks. I think people on this site always say go to the cheaper school. I often do too, but when Wharon is in the mix I believe the money is well spent.</p>
<p>Cant speak to how much “weight” a carolina scholar carries, but it certainly will look nice on a resume, and 200K invested in growth stocks carries a lot of weight too . That said, if you can afford to be full pay at wahrton and not bat an eye, do it.</p>
<p>I would pick UNC over UPenn, prestige wise, Wharton isn’t worth 200K more. If you were to say HYPS over UNC, then it would be a more serious consideration. You could list your scholarship on your resume and that’s impressive. We are die hard Cornell family. If you were to ask full ride to UNC or full pay to Cornell, I would tell you to go with UNC. Just have very high GPA and you shouldn’t have any problem in getting a job after graduation.</p>
<p>Wharton. Both are good schools, but Wharton will give you the advantage. Aforementioned, Wharton is more internationally recognized. Cheaper is not always better.</p>
<p>Most people these days get a graduate degree, and that is what matters more to employers. So if you go to UNC and do well, you can get into Wharton and HBS etc. for grad school. Also,remember in the end it is up to you to make the most of yourself. There are lots of successful people from UNC and lots of screwups from Wharton. </p>
<p>The only thing I would do is to see who recruits fom UNC. You might have a disadvantage in getting your first job out of school.</p>
. That said, if you can afford to be full pay at wahrton and not bat an eye, do it.</p>