What the MBA/Specialty Masters degree options do for OP is give her an opportunity to refocus her career/career objectives & the opportunity to change industries & employers if so desired.
If not needed, then OP has $184,000 plus interest benefit for earning a top finance degree.
P.S. I agree that if OP does not pursue finance or information systems or international business (Penn–Wharton #5 & NYU–Stern #9) at NYU Stern, then OP needs a plan & a reevaluation. But as presented, NYU is the better choice at such a significant discount.
@publisher I generally agree. Since OP indicated that the cost matters to her family, then Stern with $184,000 saved seems like the smartest path right now.
But there is a somewhat reasonable case why choosing Wharton is actually the better decision, especially if you like the culture/campus a lot more and potentially want to switch majors, so this isn’t a ridiculous question.
oh come on stop with this endless calculations here…you cant predict whether or not she wants to do MBA etc etc
NYU is a better option assuming UPenn doesnt come up with a better offer. Stern is a top school anyway and being in NYC is great. Stern has preferential treatment over any other major at NYU when it comes to recruiting and all banks/finance companies come to campus. UPenn is somewhat overrated in my view…
@ccfk1221 Well generally people support statements and decisions with a bit of information, hence why it’s helful to to approximate the costs of each option. How about you try - what makes you think Penn is overrated?
@lmao2018 no point wasting time speculating on whether a person will or will not do MBA etc - based on current offer NYU is a better option. Penn is a good school but the additional cost isn’t worth it as you can find same exact (if not better) role after Stern - not to mention networking and other opportunities by being in NYC
Another way to view OP’s situation is through a best case/ worst case analysis. Not every Penn–Wharton grad gets, or even wants, the highest paying career on Wall Street. Even if obtained, not all stay, not all survive. If the economy is great, then NYU Stern grads are going to get recruited just like Penn-Wharton grads for finance. If the economy is weak, then OP has $184,000 plus interest advantage plus a prestigious finance degree from NYU–Stern.
@ccfk1221: Whether or not OP wants to obtain a graduate degree is not the core issue; it is that by saving $184,000 plus interest, OP would have the option of obtaining a graduate degree. OP may want to get a law degree or put the savings to use in another fashion or just enjoy life without the pressure of large student loans.
I think that everyone has something to contribute to this thread.
With respect to US News rankings of undergraduate business programs, US News ranks the top 215 undergraduate business programs. Penn–Wharton is #1 and NYU-Stern is tied at #5. Location is important. The financial center of the US is New York City followed by Chicago & San Francisco. NYU’s NYC location makes interviews & internships easy as it does for securing outstanding adjunct professors.
For readers of this thread, the top 13 of 215 ranked undergraduate business programs are according to US News:
@ccfk1221 It’s probably the biggest decision OP has made in her life to date, so being thorough seems warranted. Stern does very well but Wharton does open a few more doors and generally places better. The difference in placlement is probably not substantial enough to pay $184,000 when it creates a burden for your family. The MBA is interesting because it changes the cost dynamic somewhat. I don’t know the actual numbers (OP could look them up if they care) but if 40% of Stern graduates get an MBA while only 20% of Wharton students do, then there’s a 20% chance that Wharton further saves you around $400k all else equal.
I agree with the above posts though, Stern is the safer path. For certain individuals and certain circumstances it would make more sense to attend Wharton given the edge in placement, MBA necessity, and preference for campus/culture, but it’s dependent on the individual and is a riskier path to take. To be clear, I think In this case Stern seems like the better option unless OP really loves Penn, would consider switching majors potentially, and her parents are able to help with the cost without burdening themselves too much.
@dannydalt64 if you’re going into ib, then just go Wharton and be over with it. Don’t worry about tuition – you’ll make 100k+ all-in your first year working. If you’re considering finance, remember your salary growth is near-exponential, so go to the best school, as the street is very snobby about prestige.
Also, don’t listed to people who are comparing Wharton UG vs. Stern UG+MBA. You are comparing Wharton UG vs. Stern UG. If you’re going to start throwing an MBA into the equation, then Wharton is still a better target school for HBS, GBS, Wharton grad than Stern is.
This is pretty bs math. MBA salaries are equal for the same job no matter which school you go to — i.e., MBB will pay $140k base regardless of the MBA program they are hiring out of. The only reason schools have different starting salaries is because some schools place more of their class into finance vs. consulting. And, scholarships will be higher for people with more impressive resumes (i.e., wharton).
MBA in my view is a waste of time and money - if you have a great role stick with it and see where it takes you if you dont then it might make sense but MBA not necessarily can help plus the cost associated with MBA is just too high in my view
For example: " And, scholarships will be higher for people with more impressive resumes (i.e. Wharton)." This is as incorrect as a statement can be. Scholarships typically specify the qualifications. Most are for female & minority applicants to MBA schools. As far as resume considerations, it is primarily what one has done in the post undergraduate years. = one’s work experience–although grades (GPA) & school are considered.
“Also, don’t listen to people who are comparing Wharton UG vs. Stern UG & MBA.” Wharton finance & Stern finance majors compete for the same jobs. Pointing out that OP would save enough for an MBA if Stern UG is chosen reveals value & flexibility. Not all Wharton finance get their job of choice; and, if they do, not all remain as they may not fit, get fired or leave on their own.
“MBA salaries are equal for the same job no matter what school you go to…” Yes, but the salary differentiation is supplied by the schools to US News & pay reveals much about the type & location of the positions into which MBA grads of a particular school get. This sentence also is a reason NOT to go to Wharton for $184,000 plus interest extra since Stern finance & Wharton finance grads compete for the same jobs at the same pay level.
OP: Wharton grads get MBAs as well. Although falling out of favor, typically 40% to 50% of Wharton grads got their MBAs at ages 27 through 29. Hard to believe that those high income earners would give up their positions to return for two years of school, however, unless wanting to change employers and careers, or their careers hit a roadblock due to not having an MBA. Very recently that figure has fallen to 27% of Wharton grads going back to school for MBAs at ages 27 to 29.
OP: In short, if $184,000 plus interest means nothing to you, then feel free to go to Wharton. But, if you are going to major in finance, NYU Stern will put you in competition for the same jobs as a Wharton finance major.
MBA scholarships are an entirely different beast. They are used to secure students that they want to add to their class. For example, GSB was just ousted recently for using scholarships to secure people coming from a private equity background, and these people most certainly do not face financial constraints nor were they underrepresented candidates.
Yes, I agree they compete for the same jobs, and Stern places very well on the street (although typically at different firms), however you’re still facing an uphill battle coming out of any school but Wharton.
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This isn’t a valid argument — you can say the same thing about Stern grads.
Make no mistake, Stern is a great choice for IB, but if you also have the option of going to Wharton then it’s a no brainer. There’s a great post made about this regarding MBA schools as well, [Value of a Top 10 MBA](Value of a Top 10 MBA [Long Post] : Admitted - Which BSchool to Choose?), in which the basic premise is that a degree from HBS or GBS is worth full tuition vs. a full-ride at any other school. I would apply that same logic here.
“Yes, I agree they compete for the same jobs, and Stern places very well on the street (although typically at different firms), however you’re still facing an uphill battle coming out of any school but Wharton.”
Nonsense. HYPS will place you anywhere a Wharton degree will take you.
@rjkofnovi you’re attacking a niche point unrelated to the actual question in this thread. Regardless, Harvard and Wharton do place slightly better than Yale and Princeton, and Stanford is hard to measure because of its west coast proximity. If someone is dead set on finance then Wharton and Harvard are clearly the best schools to attend.
@aoeuidhtns : You seem to have backed off your earlier incorrect statement & have adopted my position as your own regarding MBA scholarships. As I stated, MBA admissions committees evaluate candidates based on one’s post undergraduate work history primarily, then consider other factors.