<p>I just got accepted by University of Michigan after being wait-listed. I now have to choose between UT and UMich. I will major in business and pursue a career in investment banking, hopefully in NYC. I am a Texas resident and therefore UT would be much cheaper (100k difference) but Michigan is a better business school (not a 4 year) and is highly recruited by IBs. Need to make decision very soon so any input would be great!</p>
<p>While UMich’s business school may be better, I’m pretty sure McCombs is also among the elite. The 100k difference in attending UMich vs UT is not worth it, I’d say go to UT.</p>
<p>Which one would cause you to have a lifetime of regret if you never got to go? Which one is the best? Which school would give you the better shot at reaching your dream job? Which school interests you the most? Have you ever spent a Winter in Michigan?</p>
<p>No but I have spent half of my winters in Colorado (family). I feel that UT will only give me IB opportunities in Houston while UM would have opportunities in more favorable locations like NY or Chicago. I do not want to work/live in Texas after graduation so that is the one thing from keeping me from attending UT.</p>
<p>McCombs is one of the best business schools in the country. Top 10, I believe.</p>
<p>If I understand U of M admission policy to the Ross school of business, as a freshman, you are not in the business school. You have to apply during your freshman year for the three year program. Last I read, if you did not get in the “prefered” admission program (and I would have to think if you came off the waitlist, this would not apply) then your chances of snagging a spot in the business school varies from 17-19% each year. Would you really choose a “shot” at Ross over a letter in hand at UT? What if you got the flu your first semester and your grades “dipped”? Most kids going into Ross are pushing a 3.7 or higher first semester…very little wiggle room.</p>
<p>Secondly, Ross does tend to outrank UT in most “lists” of business schools…but recruiters, in their rankings tend always place UT ahead of Ross. With that said, I would be much more interested in what the yield for job placement is of the respective programs more than where they fall in general rankings. With 100K in student debt, a job would be good thing…NYC, Houston or Iowa. In the job market today, you need to be grateful for just getting a job offer. The days of picking where you want to go (which city) are basically over.</p>
<p>This is a no brainer … UT … if you are going into business, this should be obvious.</p>
<p>McCombs is a GREAT business school. Michigan is way too expensive. You will not regret going to Texas.</p>
<p>Both are comparable business schools. Although Ross is a great business school, it is NOT worth the $100k difference. Like everyone already said, choosing McCombs is a no brainer.</p>
<p>Just going to reiterate what everyone else has said…$100k is a lot of money and really isn’t worth it. McCombs is a great business school.</p>
<p>UT is considered one of the top business schools in the nation, right up there with Ross.</p>
<p>Just looked it up and Ross is #4 compared to UT at #7. Is that really worth the 100k and the terrible weather? I couldn’t imagine giving up a city like Austin for such a petty difference.</p>
<p>And consider the rankings in the future: what if Ross drops just one to #5 and UT moves up just one to #6? Is that worth 100K?</p>
<p>Concur with collegeshopping. Also, keep in mind, investment banking as an industry has taken a huge hit in the last two years. Who can forget the flood of layoffs on WS featured nightly on our TV screens? My husband has just wrapped up sale of one PE startup and I can assure you investment dollars and deals are scarce right now. A job in Houston where the cost of living and taxes are a fraction of those in NY and Chicago wouldn’t be something to ignore.</p>
<p>That being said, back in the heyday of investment banking, most WS firms were delighted to get McCombs grads.</p>
<p>ldmom, you have no idea what you’re talking about. New debt/MBS deals have always been 2x oversubscribed lately, M&A has picked up, and bond spreads have been crap lately, so companies are waiting until fall to issue now.</p>
<p>htownstu, just pick whichever area you like more. Banks recruit at both schools, so no excuses if you can’t get into IB. Worry more about which school has better parties and hotter girls (UT).</p>
<p>US - I actually have first hand knowledge. My husband just closed sale on his private equity startup company and is shopping his second. Funding is much more scarce now for obvious reasons. An uptick over the worst two years in market history does not translate to a healthy job market for new business school grads. </p>
<p>But hey…you’ve tossed out a virtual mixed salad of financial terms. Perhaps you’d like to explain the relationship between yield spread, mortgage backed securities…and…oh yes…mergers and acquisitions… as they relate to the hiring prospects for new b school grads. </p>
<p>I do hope you work on your social skills before you hit the job market as well. (Unless you really are 27 year old parent/student posting on CC, that is…) Nobody wants to hire a wise-a$$ who thinks they are the last word on everything from pre-med to engineering to business schools.</p>
<p>Also, I don’t want my comments to be interpreted wrongly. The job market for business school grads, though not what it was 5 years ago, is improving and if that is your passion you should pursue it. But do not go into any major with a rigid idea about what job you will take and where. Most business school students have lofty goals of getting their BSBA (while avoiding as many accounting classes as possible), securing a high paying job in investment banking, making astounding bonuses and living in a sleek apartment within walking distance of work in the Financial District/Lower Manhattan. The realities can be brutal for those who don’t build some flexibility into their dreams.</p>
<p>Thanks for the replies everyone! After much thought I decided to attend UT! I realized, as collegeshopping and Idmom06 pointed out, that I should be thankful to get an IB job in the future and not be overly concerned with the location. I know Texas will be a much better college experience than Michigan and I do love Austin. I look forward to being a third generation longhorn!
Thanks for the help everyone,
Hook 'em Horns</p>
<p>** I look forward to being a third generation longhorn! **</p>
<p>That alone should have made it a no-brainer. The years of nagging and picking should have been enough to keep you out of Michigan…lol.</p>
<p>Too funny collegeshopping! 
Congrats htownstu!! I think you are gonna be very happy at Texas and McCombs is excellent and very well respected in all job markets.</p>