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College choices for finance

Posted on 3/9/18 at 7:47 am
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 3/9/18 at 7:47 am
My son is graduating high school this spring. He's been admitted so far to Tulane, Georgia, SMU, LSU honors and a few others and will major in finance.

All have offered some money. The 4 year estimated costs are

LSU 36
Georgia 122
Tulane 168

Damn son! almost 90k more for UGA and 130k more for Tulane.

I don't see how they're worth it. Tulane has the best name, but UGA is now about the same for selectivity. If he goes back and gets an MBA, which I suspect he will, the undergrad won't even matter that much.

How much difference will the UGA or Tulane name mean in his career if he wants to go up east to work?
This post was edited on 3/9/18 at 9:00 am
Posted by Wade Phillips
Member since Dec 2008
600 posts
Posted on 3/9/18 at 7:58 am to
UGA is awesome, but if he’s definitely going to grad school I think low cost undergrad is the priority. I did lsu undergrad and UGA grad. Never regretted it and came out with way less debt than my peers. Had a great time at both places.
Posted by lynxcat
Member since Jan 2008
24728 posts
Posted on 3/9/18 at 7:59 am to
Those alternatives aren’t good enough or different enough experiences from LSU to justify that cost difference.

If he wants to live in Dallas, then what would it cost to go to SMU?

ETA: Damn autocorrect
This post was edited on 3/9/18 at 8:36 am
Posted by SouthMSReb
Member since Dec 2013
4612 posts
Posted on 3/9/18 at 8:07 am to
As far as connections, going to UGA basically lands you a job in ATL which is the Finance mecca of the south. From there he can branch out wherever he wants.
Posted by TheWalrus
Land of the Hogs
Member since Dec 2012
44534 posts
Posted on 3/9/18 at 8:22 am to
For those costs, LSU, unless your family can afford the higher costs without much issue.
Posted by LSU
Houston
Member since Oct 2003
8999 posts
Posted on 3/9/18 at 8:26 am to
I can't imagine how paying $100k more for any school is worth that cost.

Degrees only mean so much in the real world. Get a meaningful internship, prove your work ethic & drive, & build a professional network.

I have an MBA in Finance from LSU. I'm quite certain at this point of my career that it wouldn't have made much difference at all if that degree had been from Tulane, Georgia, or most other schools.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
30489 posts
Posted on 3/9/18 at 8:27 am to
quote:

If he wants to live in Dallas, then what would it cost to go rob SMU?



Probably at least as much as Tulane unless the scholarship difference is substantial.
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 3/9/18 at 8:58 am to
SMU same net cost as Tulane, but he doesn't want to live in Texas.....dreams of NYC and Boston.
This post was edited on 3/9/18 at 9:46 am
Posted by ATLdawg25
Atlanta, GA
Member since Oct 2014
4370 posts
Posted on 3/9/18 at 9:02 am to
I went to UGA for finance, so I am admittedly biased.

Having said that, I would recommend he go to LSU. The ROI just isn't there on the extra 100-130k for undergrad.

Having hired a bunch in the finance industry, entry-level roles are not nearly as dependent on school as they are on internship/development opportunities taken while in college. From there, his experience and work ethic will determine his career path, not his college choice.

Send him to LSU, make sure he lands internships each summer, and enjoy all the cash you will save.
Posted by HYDRebs
Houston
Member since Sep 2014
1460 posts
Posted on 3/9/18 at 9:50 am to
quote:

As far as connections, going to UGA basically lands you a job in ATL which is the Finance mecca of the south.


Atlanta finance mecca of the south?

That would definitely be Charlotte.
Posted by ATLdawg25
Atlanta, GA
Member since Oct 2014
4370 posts
Posted on 3/9/18 at 9:55 am to
Charlotte has a couple bank headquarters, but Atlanta has wayyyyy more finance opportunities.
Posted by anc
Member since Nov 2012
19639 posts
Posted on 3/9/18 at 9:56 am to
Im going to throw this out there just for your consideration.

Some of the small liberal arts schools have 70%+ discount rates. Millsaps, Birmingham Southern, Rhodes, Centenary, et al. You can get a really good scholarship that will bring their costs in the 10-15 range per year

They all have a dual degree program in Financial Engineering with Columbia. 3.3 GPA in your first three years at the small school guarantees admission. You end up with two degrees - a bachelors degree in finance from the small college and a bachelor's degree in financial engineering from Columbia.

This is the route my daughter is looking at. We have talked to a few who have done it and they have zero regrets.

Here are the requirements: LINK

Here are the affiliate schools: LINK
This post was edited on 3/9/18 at 9:57 am
Posted by tigercross
Member since Feb 2008
4923 posts
Posted on 3/9/18 at 10:58 am to
quote:

dreams of NYC and Boston.


Not to sound like a jerk, but he should've applied to different schools in that case. East coast finance jobs hire a single LSU grad every year or two, but there isn't any official on campus recruiting for bulge bracket finance at LSU. Tulane would offer better connections if he wants to move out East, and doing well at Georgia would likely place him in a very good job in Atlanta which could be parlayed after a couple of years into a move up the coast.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
30489 posts
Posted on 3/9/18 at 11:16 am to
quote:

Not to sound like a jerk, but he should've applied to different schools in that case. East coast finance jobs hire a single LSU grad every year or two, but there isn't any official on campus recruiting for bulge bracket finance at LSU


I know it's anecdotal, but I know I know 5 guys just from my fraternity when I was in school that work/worked on the East coast (Baltimore, Boston, and NYC). I'm only saying this because it's certainly possible at LSU. I think part of the reason there is so few is because not many are looking to move up there.
Posted by Ole War Skule
North Shore
Member since Sep 2003
3409 posts
Posted on 3/9/18 at 11:16 am to
quote:

Not to sound like a jerk, but he should've applied to different schools in that case.


He did apply to others and will find out which admitted to April 1.

As noted, he will probably attend grad school.

quote:

East coast finance jobs hire a single LSU grad every year or two,


Is this your estimate, or do you know of a source of actual data on this? I'm sincerely curious.
Posted by Weekend Warrior79
Member since Aug 2014
19183 posts
Posted on 3/9/18 at 11:34 am to
Out of curiosity, do you know where each of these Finance schools rank?

I would tend to lean with the majority of the posters and say go get the Finance undergrad from LSU, while working internships, then get the graduate degree from a more reputable program.

Would also help to figure out which grad program(s) he wants to consider within the first 1-2 years to make sure his classes line up properly with the school's requirements. Plus, it could avoid having to take a few additional classes in grad school to fill required prerequisites.
Posted by Senior Sidewalker
Member since Oct 2017
722 posts
Posted on 3/9/18 at 11:52 am to
Cheapest undergrad in/near good finance city
Lots of internships at banks over the summers
Work in bank for 2 years after graduation
Top 30 MBA

Guaranteed profit. MBA not necessarily required if do well enough in undergrad. But could help
Posted by Senior Sidewalker
Member since Oct 2017
722 posts
Posted on 3/9/18 at 11:55 am to
Also, joining the frattiest fraternity on campus will help a lot. Seriously
Posted by lynxcat
Member since Jan 2008
24728 posts
Posted on 3/9/18 at 12:06 pm to
Liberal arts schools like you mention are a very different experience. I went to one of them and the only thing in common with the experience with LSU is that thy both give you a piece of paper at the end.

Posted by SouthMSReb
Member since Dec 2013
4612 posts
Posted on 3/9/18 at 12:40 pm to
quote:

Atlanta finance mecca of the south?

That would definitely be Charlotte.



Lolno
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