There are quite a few threads on this subject in the music forum over the years, and one of the things to be careful about is the dual degree dilemma, where kids take a ‘real degree’ along with the “useless” BM degree (in quotes for reasons, folks), because after all getting a job in music is tough, yada yada. First of all, unless you are talking about more career oriented degrees (usually thought of as being computer science degrees and the like, engineering, accounting, maybe finance, etc), if your second degree at USC was in a liberal arts degree, or maybe even something generic like business administration, that second degree might not be more valuable than a BM degree, both are college degrees. A lot of people get music degrees (BM, BA) and end up doing ‘regular’ jobs based on those degrees, the same way people who major in liberal arts, or even get a bachelors in things like chemistry, biology or other sciences (these days a bachelor degree in those won’t get you too far from what I know).
The problem with the dual degree is the time element, while there are people who get dual BM with another degree (programs like Vanderbilt and Northwestern get a lot of musical kids like that) and come out as a high level musician, it is extremely difficult, the BM degree is time consuming, especially for a string instrument where the practice level is large, not to mention finding times for ensembles, chamber rehearsals, you name it. In the end you can have the worst of both worlds, where you struggle through 2 degrees because they both take up a lot of time. I think this is where @clarinetdad16 is coming from and based on my experience, that is very true, my son has known a lot of kids from his pre college prep program days who did dual degrees and most of them ended up losing on the music side as the academic side took too much time (again, doesn’t mean it is impossible, but that ‘insurance policy’ may not be such great insurance.
@compmom is right that someone interested in music doesn’t necessarily have to go the conservatory route or major in music, but that comes with some big caveats, it also depends on who the student is. I have seen kids who major in non musical things as an undergrad who go on to MM programs and so forth, but you have to be careful about that, a lot of the kids who go that route were accomplished coming into college, took lessons and whatnot in college with high level teachers, did ensemble work and then applied to grad school (the Ivies for example attract and recruit such kids, and they have strong music program and pay for the lessons as part of tuition). But this might not apply to all, while I totally agree with @compmom that music is one of those things you have to live for and learn for (Charlie Parker put it best, you can’t put it through the horn if you haven’t lived it, used to get me really angry seeing these 9 year old ‘prodigies’ playing gypsy themed music like Waxman’s Carmen Fantasy and Zigguneweisen without a clue what story the music was telling), it also is true that getting a regular degree while doing music “on the side” may not work well for many people, the stories of the really successful musicians you hear who did that often were people who were playing at a high level when they went to college (Gil Shaham and Alisa Weilerstein come to mind).
For me, I usually recommend the dual degree for kids who really want/need the ability to study a lot more non music stuff then a typical BM degree would give rather than trying to hedge their bets, I have seen plenty of kids who did a BM in music and a BA in liberal arts fields figuring that the BA was more ‘valuable’ in getting a job, and found out it wasn’t and paid a price for that with their music (and that is just my opinion). If you think pursuing another degree was worth the extra work and trying to juggle it with the work for the BM degree, because it is something you want to do,that is great, if you are doing it as a job hedge I would recommend seriously thinking about that and the benefits and costs of doing that.
If your heart is set on an orchestra job, and I agree totally with others you should find out if that is even for you, lot of musicians see that as being tied down to something rather than beeing what they want, then programs like Rice and CIM are very ensemble oriented and IMO can give you a leg up when going for orchestra jobs ( ensemble experience varies from school to school, and there are some supposedly top music schools where the chamber and orchestra program turned out to be shockingly bad, despite the reputation of the school), because they focus on it as well as demanding teachers that you play well. Not a guarantee, but nothing in music is guaranteed, all you can do is work as hard as you can to your passion and evaluate along the way. Same thing is true by the way for other career paths, if everyone who thought they wanted to be a doctor, started in pre med, ended up becoming a doctor, the world would be flooded with doctors and the job would pay about as well as Wal-Mart lol.