I was originally planning on double majoring in physics and economics and keep both options open but I’ve been leaning more to finance but was concerned that I wouldn’t have enough Econ background with physics major. Although I suppose I could do physics major and take some Econ
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It sounds like your parents are the decision makers. But if you went to Dartmouth, would they expect you to take out loans? Pay your parents back on top of that? If you choose Ole Miss, would they give you the cost of a Dartmouth education in some other way? If so, would that be sooner, or later?
The other thing that strikes me is these are extremes. A person competitive for these offers can presumably be competitive for a lot of other offers that may cost more than Ole Miss, but still be a lot less expensive than Dartmouth. Even if you don’t have those offers right now, you could consider that path via a gap year.
But if your parents are willing to give you the money for Dartmouth and not ask you to pay it back, well, then that could be a gift you simply accept.
I can’t speak to the finance/consulting end of things, but I have 2 kids who are Stamps scholars. Stamps at Ole Miss is more than just a full ride scholarship.
You have the opportunity for fully funded international travel 2-3 times per year (winter break, spring break, summer) in addition to a semester abroad. Some kids in my daughter’s cohort have been to every continent but Antarctica.
In addition, the school invests in your achievement. There is a staff person on campus assigned to the Stamps scholars and also a person who helps students win national awards. 2 of my daughter’s Stamps friends are Truman finalists. Several friends are headed to DC after graduation.
There is also a national network through the Stamps Foundation.
Again, I don’t know anything about the finance/consulting aspect. I would encourage you to chat with your Stamps contact and see if they have any experience with that career goal.
Would be happy to connect you to my kids or chat with your parents if it would help your decision-making. My son would be in your cohort. It is a great group of really smart, ambitious students. Many of these students have offers from Ivy League schools, Johns Hopkins, Vanderbilt, Rice, etc.
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With respect to investment banking, Dartmouth placed 3rd nationally by normalized data in this analysis:
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Then it’s Dartmouth.
But you used to think PhD. Now you think NYC. This is the issue at 17. No one truly knows. You may change again five more times.
Based on your first post - it sounds like your parents will decide.
It’s tough for someone to stroke two $45k checks a year. And if they say no, you have to be respectful.
The good news is - Ole Miss has an investment club and I see IB Analysts in Dallas, Houston and Atlanta. I didn’t look deep for NY. Ny jobs are also moving.
But a IB career is possible from there if that’s where your parents send you.
Frankly, there are no assurances from any school so I certainly can appreciate your parents hesitancy. You will too when you’re an adult. Most important is that they are comfortable with whatever decision they ultimately make.
Good luck.
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Might be of interest to your parents
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On Consulting: The world is bigger than you might think. MBB is not the entirety of the consulting universe. There are plenty of firms that hire outside of the schools most talked about here. I’m at a Big 4 now and have been at “other” firms. We recently hired a young lady out of Ole Miss into our Strategy practice to our Dallas office with an interesting background (daughter of a high school friend of mine). She was fine with Dallas, but if you’re committed to New York, the one complication I could see is a more involved interview process.
I would caution being fixed on New York or any other HCOL place if you want to do consulting, however. Having been in consulting nearly 30 years, I can tell you that where you live doesn’t matter. It’s where your clients are, and for Strategy consulting they staff nationally and internationally, not locally. What you care about is living near an airport, because that’s where you’ll be launching from to get to clients. That said, there is a lot less travel than there used to be, but there is still plenty of travel. Depending on the practice, there are some Associates that live at home to save on an apartment they’re in only three nights a week. This makes places like New York less attractive from a savings perspective, although per diems are wonderful things for young people.
The other thing about Consulting is where you start is rarely where you end up. Moving firms (and cities) is common. I’ve worked for four different firms and traded up financially each time before settling into where I am now.
I don’t know anything about the Stamps Scholarship per se, but prestigious scholarships and great grades therein are eye-catching for this industry regardless of the school. And after your first job, it’s about what you have done that gets you the subsequent(s). Particularly if clients or employers are familiar with it. The other thing you will learn is that the vast majority of your clients didn’t go to the fancy schools we talk about here. And they are all awfully smart and driven. Some may even have gone to (gasp) Ole Miss. They care about that a lot more than where you went to school. And by the way, a lot of your work will be done in exotic cosmopolitan locations like Des Moines and Bentonville Arkansas, where the echo of the Ivy league diminishes somewhat.
Very different for quant finance, which is brutal to get a job in even if you crush Dartmouth. Nothing against Dartmouth, but I wouldn’t be so quick to write off an amazing opportunity at Ole Miss. Stamps Scholar sounds like pretty good branding for free.
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I want to live in NYC partly because of the diverse cultures in the city. I’ve been there once and feel in love with the different cultural neighborhoods(Russian, Italian, etc…) and also the lack of needing a car. I’m not entirely sure of what I want career rise but know I am interested in the market and love solving quantitive problems so have always thought finance was a good idea. I know stamps has a specific brand but have also heard that going to a school like ole miss pretty much shuts you out from nyc high finance jobs. Also it seems stupid but I really don’t like hot weather which is another pull for Dartmouth/nyc
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It impacts your day-to-day life…. preferring certain weather over other weather is not unimportant…my kids didn’t look at all in warm weather states, some only want schools with rah-rah sports, and some only want posh dorms, these can be factors (though I might argue shouldn’t be ONLY ones, which is not what you are saying). Adults sometimes say it is silly and then refuse to look at a house without an extra bathroom, which they also can live without:)
I think going away would also be a different sort of education, living in a very different part of the country, with only very driven students around you.
I think looking at where grads end up is a factor to consider and not unimportant. Both in terms of industries and locations. I live in the northeast (not NYC) and know a ton of Dartmouth (and Brown, etc.) grads, and nobody from Ole Miss offhand.. We aren’t in finance but do some people who are..It would likely be different if I were in Atlanta or Dallas
HOWEVER, it is an enormous cost difference, though. Nobody can dispute that, and nobody HERE can really understand your parents’ finances in their entirety.
You can succeed from any college, so if you need to go to Ole Miss, give it your all and make a strategy to get where you want.
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@jane18762 This article is your Dartmouth ticket if there ever was one.…(I think link below is full text)
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Whatever you do, keep an open mind. It is very likely to change. Finance and Consulting are very different (done ‘em both), so don’t conflate the two. What they have in common is that you do well financially if you can get a job, but both will be greatly impacted by AI and the job market for both will be brutally competitive for new grads (already is), so keep your options open. I foresee a world where we cast a wider net for specific skills and experiences and hire far fewer out of college (just don’t need as many) so again, think about what will help you differentiate yourself.
What is the Stamps brand?
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You will have no issue getting a job in NYC - what type I can’t say because you acknowledge you have no idea what you want to do - perfectly reasonable at 17. There are many jobs utilizing quant skills - today most even. And it’s not the only diverse city where you don’t need a car.
You should go to Ole Miss. Dartmouth isn’t worth it for - I just want to be in NYC Then if you need grad school, your parents maybe will be there to fund you with the savings.
The Ole Miss Croft school is highly regarded if of interest. Also, Ole Miss has a study USA program to get you to various cities like DC and NY.
Bottom line - you don’t know what you want job wise, a perfectly reasonable thing at 17. This is maybe your parents concern - and it’s totally reasonable. Also, you say they make $350k. I don’t know if they are salary or own a business but maybe they are concerned about its consistency.
Good luck.
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my dad is a salaried doctor and my mom is a psychologist with her own clinical practice so relatively stable although her practice could always dry out. My sense is that they are mostly focused on wealth maximization and are themselves balancing saving money now vs investing in the chance for a very high paid career later. I also am very focused on going to school with a network in the northeast
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It should go without saying, you know your parents better than any of us do. Should go without saying.
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A very normal thought for a parent - they have to retire one day :). That money can grow or if invested conservatively, give them $16-20k a year in income, not an insignificant amount.
Ole Miss has a network in the NE and for most, college networks aren’t a thing that matters short of sitting in the same section of a college basketball game.
Of course less kids will end up in NY from Ole Miss than most any NE schools but that’s often by choice. Just like many NE kids go south and west.
In our case, my kids had an upfront budget my daughter wanted to apply to Cornell but at $50k max, she couldn’t attend so didn’t I assume your parents didn’t give you a budget up front so they were willing to pay…but I suppose it’s the $95k variance that matters to them..I get it.
I’ll just say this - if you end up at Ole Miss - you will have every opportunity to reach NY. Maybe not in a specific role but you’re not there yet anyway. If in IB, you might not get to enjoy the city from all the work, including weekends etc. But you are a ways away from this.
Life is long - you have lots of opportunities to experience many things for many years beyond college.
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Seconding the suggestion here:
Not saying that not attending Dartmouth is the worst tragedy ever to befall a person. But it’s an opportunity; it wasn’t something you were absolutely counting on receiving. But here it is. Your parents sound like highly-educated people who would be open to having a serious conversation around this article.
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https://www.stampsscholars.org/
Stamps scholarships are usually a school’s top scholarship from this organization. Stamps partners with several universities to provide these full ride scholarships plus enrichment opportunities. Different universities put different/individual names on them such as the foundation fellows at UGA the presidential at Georgia Tech, etc..
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Interesting. A thought that I kept to myself, until now, is that you would be much happier psychologically at Dartmouth College. Maybe your mom can discuss this with you.
OP: It’s a tough call since your preference for Dartmouth College is clear and because your career aspirations match Dartmouth College results.
Nevertheless, the network of Stamps Scholars should be given consideration in addition to the very substantial savings of at least $360,000. And, if you pursue physics and strengthen your quant skills and need a second shot at Wall Street, there are a few masters degree programs with near 100% placement for quants with major investment firms.
Princeton Master’s in Finance & CMU-Computational Finance have near 100% placement.
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The only problem I see with that is that she is merely kicking the can down the road, expense-wise.