<p>It is true to that there are more wharton students in ibanks because there are more whartonites in general. But I don't know how you can say that HYPS students may have "better opportunities" as those students NEED to go back and get an MBA when many times Wharton students don't (in some industries it isn't that important). So while the HYPS students are wasting their time and money Wharton students are advancing.</p>
<p>In banking, your promotion straight to associate or to private equity / hedge fund has to do with your performance, not your school. I know many Yalies at my firm and across the street who were promoted to associate, have jobs at hedge funds and private equity shops, etc. without the MBA. I know Penn grads who did the same thing, but it had everything to do with their drive and on the job performance, not due to their undergrad degree.</p>
<p>At the end of the day the stuff you do on the job in banking (or consulting) is not really learned in a 4 year business program, it's learned on the job. Neither an BBA (which is what Wharton is) or an MBA are of huge value academically. The MBA is a good signalling and networking degree (and the business program at Wharton functions in the same way). But I know history majors from Yale who did Greenhill and now are associates at private equity shops.</p>
<p>Bern is being very helpful on this thread, and I have to agree that you should study what suits you best. Wharton is learning combined with more practical "training," while HYPS is only learning (mostly theoretical econ at best, no finance). I'm also a pragmatic type. </p>
<p>Wharton, as with other business schools (as opposed to LAC's/econ programs), will develop you better professionally. It will prepare you better if you want to ever become a business professional. That's the impression that business schools give: the professional development, not just educational.</p>
<p>I agree YaleSocietyMember, it is possible coming from any school and it really is all about drive and performance. I think the major difference really between W and HYPSM is that W networking-wise is more like an MBA than any of the other schools as not everyone at HYPSM goes into business while W does. So going to W plus MBA gives you twice the networking power...if there is such a thing.</p>
<p>Redhare, as someone who is in finance and a former HYPS liberal arts major, I have to disagree. There is not much that is taught in undergraduate business programs that is really necessary for a position in finance, consulting, and business. If that were the case, why do businesses recruit heavily at schools like Harvard, Yale, and Princeton? I've seen history, political science, and economic majors from all of these schools do very well in finance, consulting, and business. </p>
<p>I don't think undergraduate business schools will better "develop" anyone professionally, especially since the jobs you get out of undergrad require little as far as a subject matter background. This isn't medicine, engineering, or even law. For whatever reason, Goldman is hiring Princeton government and english majors just like it is hiring Wharton business majors. If you like the subject matter at Wharton, by all means attend, and Wharton does give you more opportunities than any other undergrad business program and most other universities, but HYPS is another story.</p>
<p>I respect bern for supporting his school, but he is simply over exaggerating the effect of a Wharton education. </p>
<p>Throwing out that statistic about Whartonites coming back for an MBA is incredibly misleading. You are making a HUGE assumption by saying that all graduates of Wharton go directly into business. That's not true at all. If they're not even in business then why would they come back for their MBA. That's like saying Harvard's classics program is so good because only 1/3 of their students come back for a Ph.D. Does everyone with a classics degree go on to teach classics? NO. There are many graduates of Wharton that go into law, engineering, medicine, and any other imaginable field. The true test would be to conduct a survey on those fields which traditionally need an MBA to advance in and see how the Wharton grads are doing in those. Even then, I challenge you to find a Wharton graduate in the upper-echelon of finance (i.e, managing director of I-Bank, Partner in PE or VC, etc.) that does not have an advanced degree. It's just not going to happen. Whether it is right or not is not the point, but how do you think a company with a 20 billion dollar capitalization is going to feel if someone who only has an undergraduate degree is advising them on an IPO? Not good. And that's why it's not going to happen.</p>
<p>uc_benz: On my ranking of economics programs, when I was talking about Wharton I was referring to Penn Economics in general, which IS traditionally in the top 10 best economics program in America. Wharton is a business program but it does have a heavy economics emphasis. </p>
<p>bern: HYP have what many would consider to be the strongest alumni networks. Going to Wharton and then getting an MBA will get you no larger of a network than if one went to Yale and then got an MBA.</p>
<p>PimpDaddy: yes they have the best networks but their graduates are all split up between business, medicine, law, academic fields, and other fields. While the VAST majority (some do go in medicine, law,etc.) at Wharton stay in business. Thus going to Wharton gives you an advantage in having a larger BUSINESS NETWORK. Why would it matter if you had a large network of doctors, etc? Then getting a top 5 MBA will only expand that business network. </p>
<p>UC_benz: you are right in some ways but wrong in others. If you read my posts carefully I never said that W UG is a replacement for an MBA, personally I will go back and get one. You are right in saying that a partner/MD/Principal/etc at a VC, PE, ibank, etc. will most likely have an MBA...very few don't. All I was saying was that a). many don't get an MBA because they reach high levels, maybe not the top, in VC/PE, etc. where they are already making lots of money so it would be a waste to get an MBA unless they aspire to reach those top positions that require an MBA. and b). the wharton grads that do get their MBAs will get them later in life. Most coming from HYP get their MBA after an analyst position. I recently read an article from Wharton career services talking about average MBA age, etc. Basically saying that most Wharton UGs get their MBA after a 2nd or 3rd promotion once they want to get to those top positions. </p>
<p>Personally if I reach a level after UG where I'm making 400k+ a year I wouldn't go back to get my MBA unless I wanted to reach a level that was unreacheable without an MBA. </p>
<p>I advocate getting an MBA mainly because of the networking exposure you get with other top people in various industries. That's what the MBA is about. </p>
<p>Hopefully you now understand the point I was trying to make which I think was misinterpreted.</p>
<p>YaleSocietyMember, I'm sure you're doing very well right now in finance from Yale, probably even better than a lot of business majors. I made it seem as if a business school will always be better for you professionally, but I was really trying to say that the connections you get to the business world from a business school can give you the good experience of seeing what business professionalism is all about before you start working. It's not necessary, but I like to think it helps, like the social aspect of it. I didn't mean to degrade HYPS because that would be dumb to do. I was only saying that if you prefer the business atmosphere and the professional feel of a business program, you should pick that program over a liberal arts program, especially within the same school. It's a matter of preference.</p>
<p>I highly regard top liberal arts econ programs and completely agree with you when you say that everything is learned on the job and that people who major in history or something like it can easily perform well in the workplace. In fact, liberal arts majors probably have better reading and writing skills, so someone in a program like that could have extra skills business majors don't have. Whenever someone asks about econ vs. business, that's what I usually say. But if you really enjoy being part of business before you really work in the business, I would think business school is a good choice, too.</p>