<p>I want to work for Goldman Sachs when I graduate. </p>
<p>I have been accepted for transfer to LSA. I can study economics and complete my degree in 2 years or I can apply to Ross. it will take me 4 years to finish a finance degree.</p>
<p>My question: Can I get to Goldman Sachs out of undergrad with an economics degree from UMich or do I need to get the finance degree at Ross which will take me double the time?</p>
<p>I was in similar situation as you were in honestly Ross is better but the time to me isn’t worth it you can still leverage pretty decent jobs with Economics degree if you market yourself also i wouldn’t worry about doing Ross or Economics since your not in Ross currently i would do the best in LSA apply Ross then if you are admitted make a decision since Ross is very competitive program and even with a solid GPA does not mean they will admit you since they seem prefer to accept freshmen and re applicants from freshmen year.</p>
<p>Why do you want to work at Goldman Sachs?</p>
<p>because it’s prestigious and it pays well, and the work is more meaningful and impactful than most what 99% of other college grads end up doing?
(does not including ops/compliance/legal/BS groups)</p>
<p>However, why Goldman specifically? Why not the rest of the BBs? Why not aim even higher for top hedge funds/asset managers/PE firms?</p>
<p>To which hedge fund/asset managers/PE firms are you referring? And you managed to respond but not give me advice on school…</p>
<p>You are asking too obvious of a question… Of course finance “concentration” at Ross is the only real option. I honestly doubt an Econ major can get a job at GS. Ok maybe a few at best, but seriously that would need networking.</p>
<p>Also BBA is 3 year program…</p>
<p>Actually helpmeout, while Ross would clearly be optimal, LSA places more undergrads in Wall Street jobs than many here realize. However, focusing entirely on GS is unwise. There are over 10 BB IBanks, and given how competitive it is to get a job in that industry, one should focus on as many of them as possible. Getting a good internship in the relevant sector helps. Reading up on the field and keeping up with all the recent developments (both at the micro and macro levels) is essential. Understanding the mechanics of the IBanking industry is a must. One has to be able to speak “the language”. Networking is important, but easy. The number of Michigan alums in senior positions in Wall Street who are eager to help fellow Wolverines is impressive. One need only look up the alum recruiter(s) at each BB firm and send them all a well drafted cover letter and a solid CV. But if one’s GPA is less than 3.6, the odds will not be good. It is important to note that while Ross places more students in Wall Street jobs than LSA, there are also more Ross students competing for those jobs. I would estimate easily 100-120 Ross students seek jobs in Wall Street while from LSA, significantly fewer do so.</p>
<p>Alexandre, I was talking about Econ vs. Ross. I would agree that with applied math or something along the lines of heavy physics, the odds of job at Wall St is very high. But GS specially, between those two (assuming the OP isn’t interested in others), the answer is very clear.</p>
<p>Regardless of whether from Ross or LSA, it is always preferable for a candidate to demonstrate comfort with basic Mathematics (Calculus 1 & 2, and intermediate statistics), but one hardly needs to be a Mathematics or Physics major in LSA to get a job in IBanking. From LSA (all majors), there are only a few dozen qualified (and I stress the word) who seek jobs in IBanking, and several of those will be placed favourably. However, as I stated above, attending Ross would be optimal. The odds from Ross are much better. Virtually all qualified Ross students who seek jobs in Wall Street get them. That is not the case for LSA or CoE students.</p>
<p>Thank you for the information. With the knowledge that I pursue investment banking, do you suggest that I get a 2-year economics degree or wait it out for a finance degree at Ross which will take me 4 years, assuming that I am admitted this next spring?</p>
<p>“because it’s prestigious and it pays well, and the work is more meaningful and impactful than most what 99% of other college grads end up doing?
(does not including ops/compliance/legal/BS groups)”</p>
<p>I know why people want to work in investment banking. </p>
<p>“However, why Goldman specifically? Why not the rest of the BBs? Why not aim even higher for top hedge funds/asset managers/PE firms?”</p>
<p>This was the point I was trying to make.</p>
<p>AshleyE, you’re making a horrible assumption that Ross is a given. There is a good chance you apply to Ross and are not accepted. I would go ahead and graduate with an Econ degree in two years. Don’t expect Goldman, though.</p>
<p>What assumptions did I make…? I said, “…or I can APPLY to Ross. it will take me 4 years to finish a finance degree.”</p>
<p>And why is there a “good chance” I am not accepted?</p>
<p>I simply want to know if I apply and get in to Ross next year, should I go for it? Is it worth the extra 2 years for the finance degree?</p>
<p>By the way, each year at Michigan costs me about $5,500 plus of course the opportunity cost.</p>
<p>Then yes, Ross is a no-brainer given the pittance it will cost you (unless that was a typo) and considering where you want to work. Your ROI would be pretty substantial ;)</p>
<p>The reason that there’s a “good chance” you won’t be accepted, however, is because you have not yet transferred to Michigan and at this point you don’t know how well you will perform…and neither does Ross…yet. But if all goes well, you apply, and get in…then my vote would be to go for it.</p>
<p>Agreed with kmcmom13. If you can get into Ross, and the additional cost to you will only be $6k, then it is a no brainer.</p>
<p>Thanks for the advice, I will definitely apply for Ross in the spring.</p>
<p>Apply and decide when you have the choice. I see why not. If you don’t then proceed to graduate.</p>
<p>Honestly, those people who want to work at GS just because of its “prestige,” have no clue what they are talking about nor IB is right for them. First of all, working at any IB is brutal. I’m not going to go in specifics due to the ignorance of many people posting on this thread. Secondly, you probably have no clue what an investment bank does. “Invest in stocks,” pathetic. Go for something you actually can talk more about rather than just prestige and pay.</p>
<p>@kmcmom13, she most likely doesn’t know what ROI means.</p>