The go to IU and pay for it. You’d have to have one mighty nice job to make up that $20k/yr that IU will cost you. If you go to IU and get a job that pays $10k/ more per year, it will take 8 years to make up that tuition premium.
I don’t think it is all about the job or the ROI, but some of it is. If you can afford IU and that’s what you want, do it. If you can be happy at UCinn go there and save the money.
“…and my salary potential would be higher right out of college.”
Would it, though? I don’t pretend to know a lot about how business works but this tends to be a way of the past in most industries. Nowadays, most undergrads get paid approximately the same out of school (and if not, it usually comes down to their past EXPERIENCE and/or negotiating skills/what leverage they have, NOT what school they went to).
Some of it could relate to job recruiting on campus. There are some higher paying places that recruit on some campuses, but not others.
^That depends on what sort of job you’re aiming for. @CourtneyThurston
Undergraduates from a top business school like NYU Stern make an average of almost $74,000. This would be skewed slightly upwards because of its advantageous proximity to Wall Street, but nonetheless, that’s a huge contrast to for example going to a school like Temple University, at which the average Fox business school graduate makes less than $50,000 per year. And Temple isn’t a no-name school in the middle of nowhere!
https://kelley.iu.edu/UCSO/Statistics/salaryStats/page40582.html
http://business.uc.edu/career/lindner-career-services-info/Employment-Data.html
The avg kelley starting salary is around $11,000 higher than for Cincinnati graduates.
I think that figure is very skewed, like you said, except not “slightly”.
I know that prestige matters more in business than in engineering, but according to The Economist (I think? Either them or The Atlantic), it’s the second least prestige dependent field (behind engineering). So it can’t matter THAT much.
I’m pretty convinced all-around that any slight decline in prestige can be made up for with a slight increase in ambition/hard work. I don’t think any sane employer on the planet will pay you less just because you went to a lower ranked school (and yes I know some companies do that – I just don’t think they’re sane).
Honestly… I get that on-campus recruiting is convenient and all, but it’s not everything. I’ve worked 5 internships and got exactly 0 from campus recruiting. It’s really not that hard, or time consuming, to hit up a recruiter on Linkedin with your req and candidate ID from an online application. It’s really not that hard to shoot off an email to a hiring manager. I swear.
You can 100% make up for a lack of campus recruiting. NO ONE from the industry I’m interested in comes to recruit at my school. I’m on track to make over 110k base salary at graduation. Hasn’t hurt me even a little bit.
Well like I said, it depends on what sort of a job you’re trying to get. If you’re going to become a CPA and go into accounting, the schools will probably matter less. However, if you’re trying to get to Wall Street/i-banking you might be more picky.
At the same time, Honors college at a slightly less prestigious college is probably equally valuable to non-honors at a slightly more prestigious college.
Cincinnati is also a pretty low COL area, though. Could easily make up for discrepancies there. And frankly an 11k gap, even if there was a REASON for it, could be made up for by a few half decent internships.
Seriously, spending a ton more money out of what is literally just fear seems really foolish to me. Just my 2 cents.
Wall Street is picky, I’ll give you that. I kind of write them off personally because I think they’re terrible places to work but if OPs dream is Wall Street then okay (but honestly, is IU that great? It’s not a Harvard or a Chicago. Does Goldman etc recruit there, either? Genuine question, because I have no idea.)
In almost all other sectors of business/finance… not too convinced it really matters.
@CourtneyThurston I agree with you.
That might change the decision a bit.
Kelly is considered great. There are definitely opportunities that would exist at Kelly that wouldn’t exist at Cincinnati.
The question is whether the OP has the drive and personality to make the ROI at IU worth the difference in cost. None of us can answer that because we don’t know OP.
@CourtneyThurston I do plan on going on Wall Street or something similar. I love trading stocks in a simulation account, so that is why I chose Finance over Accounting. I also don’t think the numbers are skewed that much when comparing IU to UC. IU is in the middle of no where and UC is in a city. I also didnt say this before but I’ve lived in a suburb of Cincy my whole life so I also kind of want to leave the city and see what life is like somewhere else. When I visited IU, they did say a lot about on-campus recruiting that prefer IU students.
Please read Kelley’s annual report
So basically 71% of their seniors did not have jobs at/by the time they graduated.
those who did have jobs, 10% of them were in NY
@thumper1 At Michigan State for Packaging
So there you go. Your dad didn’t get his undergrad at Kelley and he is doing fine.
I don’t know the strength of the Cincinnati program. But as a business major…you should be able to at least figure out something about the cost differential and impact.
But really…the finances of all of this are up,to your family.
@thumper1 He still does packaging. He got his MBA because he started his own consulting company for packaging. MSU was one of the only packaging schools at the time when he went to college.
Saying you will try harder at IU because it costs more is kind of nuts. You need to step back and think about that. It is a really immature attitude.
Am I understanding “definitely can afford” means that IU leaves you 100K in debt? That is too much debt and much too big of a gap to try to fill by negotiation with the financial aid office unless you have very extreme extenuating circumstances.
You don’t have to hang out with the party people at Miami, if that is the best school you can afford.
Right now I’m highly considering just going to Miami for undergrad and then going to IU for grad school.