Did he submit his IU app in the EA round? If so, IU Kelley is a safety for him because he meets the direct admit criteria.
Generally, I’m not a fan of weighing options until those options are in hand.
Getting in to investment banking requires good grades, relevant activities, and networking. A lot of networking starting first year. There is no school that will provide opportunities for students…the students have to be actively seeking them out.
Plenty of Kelley students end up in IB, many more end up in other terrific finance related jobs. At the point your S does have a choice, then he has to think about the college vibe he wants. IU Kelley is large (~10K students) and competitive. Competitive for grades, competitive for clubs.
I will tag @catcherinthetoast and also share this thread Want a Career in Banking? Ask a Senior Banking Exec