Hi! I am looking to be matched with potential schools to transfer to. I have already started the process and would appreciate any additional feedback or options I may be missing.
Demographics
US domestic
Michigan
Currently attending a public university (Mainly commuters, high acceptance)
Other special factors: first-gen, low-income
Cost Constraints / Budget Will need aid, but willing to take out loans, preferably at max 20,000 a year
Intended Major(s)
Finance
GPA:
Unweighted HS GPA: 3.6
Weighted HS GPA: 3.8 (out of 4.0)
College GPA: 3.2
College Coursework:
General education course work: Intro to Ethics, Macro, Film, Linear Algebra, Biology, Intro to Bible, Spanish
Major preparation course work: Org behavior, Marketing, Accounting 1, Accounting 2, Stats 1, Stats 2, Operations Management, Micro, Public Speaking
HS coursework:
English: Accelerated 9, Accelerated 10, AP LANG, AP LIT
Math: Algebra, Accelerated Geometry, Accelerated Algebra 2, Intro to Calc
Science: Biology, Accelerated Chem, Accelerated Physics, AP Chem
History and social studies: General History, APUSH, AP GOV, AP Econ, AP Psych
Language other than English: 5 Years Spanish (College Spanish dual enrollment)
Awards
Extracurriculars
Assistant Manager at Chick-fil-A, Finance Intern (Both taking up around 20-40 hours per week, luckily, both are flexible with school commitments) DECA Treasurer, Finance Club President, MLT Career Prep, SEO Career, Business Scholar, and Ambassador
I have an offer for an internship in J.P. Morgan’s fellowship program this summer
Schools Depaul, Loyola Chicago, Saint Mary’s College (South Bend), Miami Ohio
I would like to add to this list!
Additional info: I am looking to transfer to branch out and fully immerse myself in my education. I currently work a lot to attend school and have been saving for a more immersive college experience. I thoroughly believe that if I were in a different environment and were able to prioritize my education, I would do much better in terms of grades.
I think that prioritizing your education and improving your grades is the highest priority. I think that you can do this where you are now. You should be striving for straight A’s this semester. Then take it from there.
I do wonder about transferring to Michigan State University, although it also occurs to me that you might already be there.
It looks to me as if you are half way through your bachelor’s degree, or will be at the end of this semester. My understanding is that finance is an area where a master’s degree is at least possible, often after first getting some work experience. Improving your grades from now until they hand you a bachelor’s degree, along with work experience, could significantly help an application to a master’s degree program if you ever get to that point. Avoiding debt while getting your bachelor’s degree might make it easier to afford to get a master’s degree.
In terms of your course load, I did not notice anything related to probability and statistics. To me this seems like a subject that could be useful in finance. I was a math major, so I naturally took calculus before taking a number of courses in probability and statistics and stochastic processes, and to me calculus did seem like something that is useful in this area. However there are university level statistics classes that do not need any calculus.
And I think that this is very good for a student majoring in finance.
Thank you so much for your response! I believe my main concern is placement after graduation, as well as having a hard time finding like-minded students. I will say I believe I would do better being surrounded by some friends or having a more traditional college experience, though it is not my main priority, more so, what is feasible. The college I attend is in Rochester, MI. It does not require Calc. I have taken a full year of stats, though I may not have mentioned it.
Would you recommend taking calc for preparation for a finance career?
One of the schools I am applying to is Saint Mary’s, where they have a partnership with Notre Dame, allowing you to take 1 class a semester at Notre Dame. In addition to having an opportunity where you can jump straight into a Master’s in Finance at Notre Dame. Overall, Saint Mary’s has a higher acceptance rate and seems somewhat feasible.
Do you think it would be beneficial to consider a program like that? Or would it still be better to navigate where I am now?
Thank you for your response! I have not heard back from these schools yet, so I think I am just nervous and was looking for some alternative opinions, if there are any, I may be overlooking or have not even considered.
I think a more detailed reason for my want to transfer is to be a part of a community and build relationships with students of similar goals. With my current school being mostly commuters, it tends to be a go-to class and get-out type of campus. Also, I am beyond grateful for the internship opportunity, though I think I get trapped in the idea of what if that does not work out, and I do not have the resources at my current university to help me when it comes down to graduation.
Within the business program, I have exhausted a majority of the opportunities, which worries me as well. For example, we have a case competition we compete in against a variety of high-level competitors, which is great, but you are only allowed to go once, and I have already gone, and that opportunity is almost considered the ceiling for our program.
Thank you so much for your response! And if you believe there are some other ways I can make the most of my current university, I would love to hear!
It sounds like you are not at MSU. I think that you might want to consider a transfer to MSU (ie, at least consider it as one option). I would also seriously consider staying where you are and striving to pull up your GPA. If you at some point apply to any graduate program (such as a master’s) they will look at your actual grades, and an uptrend can help quite a bit.
I was a math major, and used math in a somewhat different area. I do understand however that sometimes people who major in math do end up in finance. Actually mathematics is potentially useful in a rather wide range of areas. There are a lot of things in this world that only work because someone did the math.
Calculus is very useful in a wide range of areas. I would recommend taking some calculus. However, calculus depends rather heavily on its prerequisites, such as high school algebra, trigonometry, geometry, and precalculus. I typically recommend that someone be quite strong on the prerequisites before taking calculus. Some people find it easy. Some people find it difficult. Much of the difference appears to come from how well prepared students are in the first place.
And I would plan on putting in a strong effort in your summer program at J.P. Morgan. This sounds like a great opportunity to make some connections in the industry. EVERYONE that you meet in an opportunity like this is a potential contact in the future. That quiet young kid who is also a current university student might end up being a highly placed executive in some number of years – you never know. I remember at least two cases quite well of getting along well with the quiet young kid, and then years or ever decades later finding out that they were the boss’ boss (whether at my company, or at a customer’s company, or at a potential future employer).
And based on what @Publisher said above it sounds like it might be a good idea to budget for at least a one year master’s degree. This might suggest avoiding debt for your bachelor’s degree if this is reasonably possible. My master’s was in a different area (a subfield of applied math) but I did notice that the various students in the same master’s degree program came from a huge range of different undergraduate schools. Switching schools when you go for a master’s degree does seem to be quite common. Other people I know with other graduate degrees have mostly said the same thing.
I don’t think Saint Mary’s will meet your cost needs. I am not sure how much merit you can expect as a transfer with your current grades. With the top merit award (36,000) it gets the tution to 19,000 a year, but then you need a place to live. Have you visited? They do give a scholarship (1,000) for doing a visit.
It is a pretty special place. It was one of my daughter’s top 3 when she was deciding on a college. She was interested in the all female aspect of the school.
The JP Morgan fellowship offer is a big deal and will carry weight in your transfer applications. That plus the Chick-fil-A assistant manager role shows you can balance serious work commitments with academics, which is something transfer committees pay attention to.
A 3.2 college GPA is workable for transfers, though it does narrow your options at the more selective business schools. Here are some thoughts on your current list and additions:
Your current list:
DePaul: Good fit. Their Driehaus College of Business is solid, and they’re transfer-friendly. Chicago location opens up finance internship opportunities. You’d be competitive here.
Loyola Chicago: Similar to DePaul in terms of fit. Quinlan School of Business has decent finance placement. Also transfer-friendly.
Saint Mary’s (South Bend): Smaller school, which could be the immersive experience you’re looking for. Not as strong for finance recruiting though.
Miami Ohio (Farmer School of Business): This is probably your strongest option for finance recruiting on this list. Farmer has great placement for Midwest finance jobs, and they have an established pipeline to firms in Cincinnati, Columbus, and Chicago.
Schools to add:
Indiana University Kelley School of Business: One of the best undergraduate business programs in the country. They have a strong transfer admissions process and your DECA/Finance Club leadership would fit their culture. With a 3.2 you’d need a strong application, but the JP Morgan fellowship helps a lot.
Ohio State Fisher: Another strong business school with good finance placement. Columbus has a growing financial sector.
Michigan State Broad: More accessible than some of the others and still has solid recruiting.
Marquette: If you want something private and smaller with a good business program in a city (Milwaukee).
A few things to consider:
Your JP Morgan fellowship is your biggest differentiator. Make sure it’s front and center in your applications. Explain what you’ll be doing and what you hope to learn from it.
For your essays, the narrative about wanting a more immersive experience is good, but make sure you frame it positively. Talk about what you’re moving toward (deeper academic engagement, campus community, specific programs) rather than what you’re leaving.
With your $20K/year loan max, run the net price calculators for each school before applying. As a first-gen low-income student, you may qualify for more institutional aid than you’d expect at private schools.
If your college GPA improves this semester, even to a 3.4, that opens more doors. Worth pushing hard these last few months.
You have great experience, but your main constraint is your budget. The loans you can take out are limited, unless you have a co-signer or pay high interest rates for non-cosigner loans (not recommended.)
Your list of schools is solid, but I don’t think any will meet your $20K price point which is close to a full tuition award. Additionally, not having taken college level calc will be a disadvantage in admissions.
Do you have any affordable in-state options that would be highly likely for an admit? You don’t meet MSU Broad’s transfer GPA requirement, but you may be able to transfer to liberal arts and ultimately transfer into Broad. Something to check into and talk directly with a transfer admissions staffer.
OP does not meet the criteria for Kelley standard admission for transfers. IU/Kelley won’t get near the $20K price point either.
OP does not meet the transfer criteria for MSU Broad based on GPA, nor for OSU Fisher which requires transfers to have taken either business calc or regular calc 1 for transfers. Fisher won’t be affordable either.
If it’s an option to stay affordability wise, you are doing great with your activities. I would encourage you to work less during the school year if that is at all possible so that you can get higher grades. If that is not an option, I get it (as someone who also worked a ton of hours per week all through undergrad.) I would strongly encourage you to add calc to your schedule in fall of next year, should you stay. Good luck and keep us updated.
I am currently a sophomore, and I will try to find a contact at MSU and see about a potential transfer later on into their finance program.
I also know the budget makes it very difficult to find good matches. If I were able to, I would look into more funding options to pursue a better education if any schools would admit me with my lower GPA.
A lot of my work experience is to pay my own expenses, as well as the remainder of my tuition costs after scholarships. I have sort of come to the conclusion that I would rather take out some loans, work less, and be able to put full effort into my education. I do believe if I were allotting myself more time for school, I would be doing much better academically. I do also believe an alternative home environment, rather than what I am in now, could help significantly.
Don’t conflate school name with better education. You can get a great education most places and a lot of kids at big names say their education was not rigorous.
There are rigorous and fine educational institutions at schools of all levels and then others not so rigorous - also at all levels.
But I’d look into CMU, NMU, Grand Valley types, etc. MSU Broad is great too.
That all makes sense. You are getting great real world experience.
Because you are a sophomore, one thing you need to check at transfer schools is whether you can graduate in two years…you have to understand what credits will transfer and then map out each semester at the new school. Pay attention to classes that are only offered once per year or every other year. It can be tough to graduate within two years and obviously would add cost to your undergrad education if you have to take an extra semester or two.
Thank you! I was fortunate to have received a decent amount of credits in high school, so I started around a year ahead. I would like for any classes that do not transfer, I have around a year of a buffer. Though I will be sure to further research that as well. Thank you so much for your help!
Thank you, I appreciate hearing that. At my current university, I am supposed to be starting my major classes next year. What I am noticing is that a lot of the classes will be taught online through online platforms. When I started university, I was undecided, so it was not necessarily something I had thought about. I would say personally, I was going to try to pursue a lot of my Finance classes in-person just to be a part of more conversation.
Do you happen to have any advice in terms of how to take full advantage of classes in that format?
I will also look into those universities as well, thank you so much!
I agree with the in-person but everyone is different. Some schools offer both - you can take online, in person (at the same time) or even asynchronous (at your own pace).
I would need in person but every semester, my daughter took one asynchronous class - worked for her - not me.
As you look at colleges, that’s something to ask / look into. Even contact the b school or finance department.
But in the end, you need affordability, first and foremost - so as a transfer, I can’t imagine it’s going to be a big name like others are suggesting.
Maybe you’ll get lucky but unless you have significant need (and apply to a school that meets need), I don’t see it happening - that’s why I keep pushing the types of schools I am.
Hopefully they’ll have in-person since that’s what you seek.
But there are stories out there, even about high pedigree flagships, having the same.
But often times, it appears online is an option - but not the only option - so reach out to the schools and ask.
Michigan has a lot of publics and certainly many are not commuter is. Even a Michigan Tech has a finance degree, etc.