<p>What are the differences between going to Stanford for econ or Yale econ then attending the Wharton School? Any comments</p>
<p>This is something I've been puzzling over too. As far as I can tell, we have the immensely strong Wharton name. Next, the hype thar employers won't like a narrow focus is overblown, especialy because Wharton students I've talked to tell me that it has a liberal arts focus too. Also, UPenn gives better need-based aid than HYPS. Plus, Harvard, at least, has a reputation for turning out insanely arrogant applicants. This is anecdotal evidence, but of the half-dozen or so Wharton grads I've met, they've all been extremely polished and charming. I suppose if you just want to go into a math field, like accounting or econometrics, then HYPS would be OK. But since I'm interested in management, I would definitely choose Wharton over HYPS in a heartbeat. NYU's Stern School is the only school I would consider any competition, but thats to some degree influenced by my love for NY.</p>
<p>HYPS econ, you get a bachelor of arts in economics, meaning that your study is going to consist mainly of economic theory. At Wharton, you get a bachelor of science in economics, with more of an emphasis on practical applications of economics (hence business) with a choice of concentrations in fields such as finance, marketing, management, etc etc.</p>
<p>B U M P</p>
<p>rhys are you sure?
last time i checked, wharton does not have an econ major. You have to the faculty of arts and sciences to major in Econ. You can only major in business like things at wharton not the traditional econ, as far as I know.</p>
<p>he's correct. even though all of the majors are business ones, your diploma will say bachelor of science in economics. look at the viewbook or the website. in my humble opinion, getting an undergraduate business degree is worthless anyway. MBA programs care the most about the work that you do after college before you apply.</p>
<p>So basically, if you are very sure you're going to be doing something business-y, go to Penn|Wharton. If you are less sure, try the others.</p>
<p>If you want that IB job, there's no better option than Wharton. Wharton in general gets better job placements, even better than HYPS. I think I read somewhere that Goldman Sachs, which has a good connection to the Wharton school, has more Whartonites than HYP grads combined. Of course that's just an example, but it's still something to consider. If you want IB or consulting, Wharton would be a good choice.</p>
<p>I thought for IB they liked Math people alot too</p>
<p>I would go to Wharton is you definetley wanted to go to business</p>
<p>Essentially this comes down to econ v. UG business.</p>
<p>econ programs are much more theoretical while an UG business program is much more applicational/practical. In an econ program you'll learn some advanced econ theory which is good to know once you're in industry but in reality you will not use very much econ (seldomly and when you use it, it will be for very simply stuff), especially very much advanced econ...you'll need it when for things like forecasting, etc. but you will not learn more practical things like finance, accounting, management, etc. In an UG business program you will learn basic/intermediate econ theory (depending on the school) but you will learn the more applicational fields in depth which will be much more useful in a future career. </p>
<p>Usually econ majors can get similar jobs to business majors except as an econ major you will have to learn the applicational aspects of the business (which in reality is not very hard) but in a sense you will be at a disadvantage initially because an ug business major will definitely know these fields in much more depth. Think about it if you go and work at a company an econ major will have to learn finance, accouting principles, etc. on the job which won't be hard but you really will only learn what you need for THAT job and it won't be in very depth. While a business major will know those fields in depth and be able to apply them to different kinds of jobs and with a greater understanding might be able to produce more high quality (because of the depth) analyses. Eventually after a good amount a years on the job an econ major will probably catch up to a business major...</p>
<p>In terms of recruiting going to any of those schools will open up the same doors. Industries which recruit solely at top 20 schools (ibanking, consulting, etc.) will be available to you at any of these schools. All are ibanking & consulting powerhouses with Wharton definitely being known as THE ibank powerhouse...many joke that wharton takes smart h.s. kids and just cranks out ibankers. As redhare mentioned above, Wharton has more grads at Goldman Sachs than any other university, plus it has the largest number of Managing Directors at Goldman Sachs.</p>
<p>Definitely go with whatever seems more interesting to you. All are great schools and will open up similar doors. You can't go wrong with any.</p>
<p>Personally, I'm a more pragmatic person and I don't want to waste 4 years learning stuff that I won't be using extensively on a daily basis. Thus I chose wharton. Others might want to learn econ because they find it more interesting and will wait to do an MBA later.</p>
<p>I think that in the long run, it's better to go to HYPS undergrad and then get a Wharton MBA than just to go to Wharton undergrad. A Wharton BS will help primarily with a first job, such as an analyst position in i-banking. In terms of higher-level management positions, I'm pretty sure that most firms would rather have a top MBA or PhD grad than someone who doesn't have any graduate degree.</p>
<p>oh I wasn't saying that Wharton was a supplement for an MBA...by no means. You definitely need an MBA to advance. Personally I think the best combination is Wharton BSE in Finance and Harvard MBA in Management. You get the best finance education in the world and the best management education in the world.</p>
<p>Most people seem to believe that a Wharton BS is a replacement for an MBA. I think I read somewhere that only 1/3 of Wharton undergrads get an MBA later on, meaning that they're relying on their undergrad degree to carry them throughout their careers. In that case, they'll have an advantage early on due to their in-depth business training, but most of the top management positions will likely be given to those with advanced degrees, whether an MBA, PhD, or even a JD.</p>
<p>Basically, a Wharton undergrad degree will initially open up many doors, but it doesn't by itself set you for life. Unless you have an unusual business flair, obtaining a graduate degree is practically a necessity to move up the corporate ladder.</p>
<p>Let's make this clear: IT DOES NOT MATTER WHICH MAJOR YOU STUDY.</p>
<p>Whether you have a business, economics, engineering, or biology degree you are not going to know what to do. That is why each I-Bank has an EXTENSIVE training program for its analysts to the tune of 6 weeks. This is due to the fact that each bank usually has its own proprietary modeling structure so you obviously aren't going to know anything about it. </p>
<p>Pretty much the only advantage I can see with a business/econ degree is it will show your interest in finance. It may be hard to convince the interviewers if you have a degree in Classics why you are going into finance when you just finished reading Homer for the past 4 years. However, if you're adamant about going into I-Banking for the right reasons then you won't have a problem conveying that to the interviewers no matter what degree you have.</p>
<p>ForeverZero: It's true that only 1/3 of wharton grads get an MBA. This is mainly due to the fact that the vast majority of wharton grads end up in 1. I-banks 2. Private Equity 3. Hedge Funds. These three fields are fields in which you move up the corporate ladder based on performance alone. Having an advanced degree will help but all they really care about in these industries is performance. Thus these wharton grads realize that "hey I'm making 400k+ a year...why would I stop working for two years just go to and PAY to get a piece of paper that says MBA on it and lose out on 2 years worth of earnings." Think about it that way if you were making that much money why would you want to stop working, by that point in your career an MBA is not going to do much in terms of boosting your salary and most are pretty content with their positions so they see the MBA as worthless.</p>
<p>btw I've gathered most of this info from 1. talking with wharton grads 2. a presentation by Goldman Sachs' CEO at Wharton last year</p>
<p>I've heard that certain advancements in business are reserved for people with MBA's. For example, very few people are able to move from an analyst to associate position in i-banking without an MBA. Are Wharton undergrads really able to bypass their way around that system? If that's the case, then it appears that a Wharton BS really is equivalent to an MBA.</p>
<p>First off, Princeton has the best need-based aid program among HYPS/Wharton with Harvard very close behind after their new aid initiatives. Yale has also altered its fin aid policy recently but I have no idea how good it is now. Either way, HYP all have better aid than better Wharton. I don't know about Stanford but I imagine the same to be true simply because Stanford has a larger per-capita endowment than Penn. </p>
<p>On the note of Economics, HYP/Wharton are all excellent schools with great economics programs. Almost any ranking would place these schools in the top 10 with HPMS/Chicago usually making up the top 5 and Yale/Wharton somewhere between 6-10. </p>
<p>Recruiting wise, Wharton along with HYP are all basically the same. They are all near major metropolitan areas and are very popular among recruiters. </p>
<p>On the note of Economics as a major, uc_benz is right, your major really has no huge impact. Any math heavy major would work great in finance, Comp Sci, Physics, Math, etc. The Renaissance Hedge Fund for example aims to focus its recruiting on hard science majors. However, majoring in a soft subject also has its advantages because the higher gpa will also help you out in the recruiting process (although it won't really get one anywhere if he is quite dull).</p>
<p>Anyway, any combination of a Harvard/Princeton/Yale/Stanford/Wharton undergraduate degree and a Wharton/Yale/Harvard/Stanford M.B.A. will take you as far in the business world as a set of degrees can take you. They're all at the upper echelon of those fields and there really is no practical difference between any of those combinations.</p>
<p>First off all, PimpDaddy is right in one aspect - aid. Penn is not known for having very good aid while HYP have amazing aid. </p>
<p>However, PimpDaddy is sadly misinformed with regard to the programs. First, you can't group HYPS/Chicago with Wharton. THOSE ARE ECONOMICS programs. Wharton is an UG business program which is completely different. Saying what HPMS/Chicago are top 5 and Y/W are btw 6-10 is just stupid. Wharton isn't even in that category if you want to have a good list it would be:
-HPMS/Chicago top 5, Y/Penn SAS somewhere in the top 10.
-Wharton would be grouped with NYU Stern, Ross (UMich), Haas (Berkeley), etc.</p>
<p>Recruiting-wise you are somewhat right. They are all basically the same because they are near large metro areas and are very popular among recruiters. However, in i-banking and consulting Wharton is greatly favored because it prepares students better for those fields. Why do you think that wharton is the best represented school at Goldman Sachs, the top investment bank? There are actually more Whartonities that HYP students combined at GS. Also Wharton has the most Managing Directors at GS...meaning that more Wharton students have advanced in the company than any other school. </p>
<p>If you want to go into i-banking/consulting all the schools will serve you well. However, be aware that many times Wharton students are favored. Don't be surprised if you go to HYP and then work at an ibank when your boss overlooks you and gives the more challenging/important projects to the wharton student. Many grads I've talked to and many of my friends (I include myself in this group) have already experienced this at summer internships. Just recently my bosses passed over HYP seniors for me a lowly Wharton freshman...</p>
<p>ForeverZero: I have heard of cases in which W students have been able to get promoted to associates without an MBA. A family friend of mine had this happen. Others are invited back to the firm after the firm sponsors their MBA. Many also just leave ibanking after the analyst job and join Hedge funds & private equity firms. This is the most common route. I have another family friend who finished at Morgan Stanley after his analyst position and went into private equity where he was making 400k in salary and a bonus of 800k. The guy is 25...</p>
<p>for all it's worth if you're going to succeed you are the one who is going to make it happen not your school. Going to any top school is definitely going to open doors up...but if plan on going into i-banking, IMO, you can't go wrong with Wharton. It is known for taking bright h.s. kids and turning them into ibankers.</p>
<p>Kudos on the very informative post, bern700. About Goldman Sachs, are those Wharton BS students you're talking about, or any Wharton grad in general?</p>
<p>This is all about econ vs. business. At the HYPS level, an economics degree is going to get you all of the job opportunities that a Wharton major will.</p>
<p>People don't understand that the reason that Wharton is so highly represented in banks is that there are simply more Wharton grads who are focused on finance. Many fewer students exist at HYPS, yet they have the same, and maybe better opportunities.</p>
<p>And with an econ major at HYPS, you are still getting a broad based liberal arts major, which most people view as superior to the undergrad business major.</p>