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Convince me to stay at UMICH

confusedgiraffeconfusedgiraffe 1 replies2 threadsRegistered User New Member
I am currently a student in LSA , and I've been accepted to transfer to Cornell SHA. I want to go into management consulting and then private equity, and would like my undergrad to be preparatory, which is more likely at Cornell than Umich considering I was denied from their business program (Ross).
I realize that both of the programs do well with consulting recruitment, and that the chances of my choice affecting job prospects is marginal.

My experience at UM thus far has been much less than enjoyable, as there is a severe lack of cultural fit. Additionally, my UM experience is marred by my ineligibility to study business at the university (I can't overstate this). The only thing tying me to Ann Arbor is the in-state tuition. If I stay at UM i'll major in International Studies, hopefully do some finance/consulting internships, and spend a semester in Europe.

I'd also like to add that I plan on getting an MBA if I stay at UM, but I'd forego that plan if I go through with the transfer to Cornell.

TLDR: I could stay at UMICH and graduate debt free, albeit with a degree I have no desire to earn; or transfer to Cornell SHA and get the degree I'm substantially interested in, but with $150K in loans attached. MBB recruiting is a concern, but both schools do well on that front. Help?
18 replies
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Replies to: Convince me to stay at UMICH

  • sushirittosushiritto 3876 replies11 threadsRegistered User Senior Member
    Questions.

    Do you think Cornell SHA will get you to your primary goal of management consulting and later private equity better than a UMich degree in International Studies?

    Can you and your family afford to pay $150,000 of loans? That’s an awfully big hole to dig out of.
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  • KnowsstuffKnowsstuff 3971 replies16 threadsRegistered User Senior Member
    So if you can afford it then to go Cornell. But why not tweak your major at Michigan and do something your interested in. You don't need Ross to reach your goals. There are great resources at Michigan to do business type things.
    My non Ross kid has done https://www.optimizemi.org/ for a $5,000 grant and https://lsa.umich.edu/bli for a $10,000 one. One of the kids he did this with is a Ross kid. They started a student tech organization, put on a conference, got quoted in a tech magazine and now is abroad doing a international internship as part of the project management team of a known company. He wants to go into business management or the like.
    Since your at one of the best universities in the world for free.. Why not take advantage of what they offer?
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  • TooOld4SchoolTooOld4School 3329 replies12 threadsRegistered User Senior Member
    You will need to save your money for graduate school. Your chances for a better job in management consulting improve greatly with a masters degree in a useful area: business, operations, supply chain, engineering,, math, statistics, etc.
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  • CaMom13CaMom13 1855 replies12 threadsRegistered User Senior Member
    IMO, the financial impact of the move to Cornell will negate any marginal benefit but I have to ask - did you apply to transfer to any affordable schools? For me, the only "win-win" scenario for you is an undergraduate business school you can afford without huge debt but that school may not have the big name you're set on. To evaluate for yourself the decision to leave/stay do the numbers on that 150K (with interest) and see how much of a burden you're putting on yourself. Look at average salary for an MBA fresh out of school, see how much gets taken off in taxes and living expenses and how much will go to student debt. Weigh that financial future against the perceived benefit of going to Cornell. It's not a trivial amount to repay.
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  • coolguy40coolguy40 2086 replies2 threadsRegistered User Senior Member
    The median salary of a financial consultant is about the same as an electrical engineer. With $150k in loans(assuming you could get them), it would offset any benefits you could get. Also keep in mind that financial consulting is only one out of literally thousands of occupations you could do with a business degree. Chances are, you'll be swimming in debt in a career you're miserable in. Finding the right fit job happens after graduation through trial and error. If you have a mountain of debt, your options are very limited.
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  • DadTwoGirlsDadTwoGirls 5404 replies1 threadsRegistered User Senior Member
    "but with $150K in loans attached"
    Ugh. I think that this is just too much debt for a bachelor's degree.
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  • dentmom4dentmom4 1325 replies4 threadsRegistered User Senior Member
    $150K in loans? Your parents are willing to co-sign? Do you currently have loans at Michigan?

    Michigan can give you what you need at the undergrad level; you just have to make the most of the opportunities available. And there are plenty.
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  • ProfessorPlum168ProfessorPlum168 3987 replies86 threadsRegistered User Senior Member
    coolguy40 wrote: »
    The median salary of a financial consultant is about the same as an electrical engineer.

    Maybe 10 years after graduation and only under special circumstances.

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  • roycroftmomroycroftmom 2883 replies37 threadsRegistered User Senior Member
    I wouldn't expect hotel administration to get many placed into management consulting
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  • TooOld4SchoolTooOld4School 3329 replies12 threadsRegistered User Senior Member
    The larger consultancies hire MBAs and Ph.D.'s in equal numbers. Ph.D.'s in the sciences and engineering are almost all fully funded. An undergrad degree isn't going to get you too far in one of those firms. Consider that you could stay at UM, go to grad school in a funder program, and still hire in to a consultancy with zero debt.
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  • KnowsstuffKnowsstuff 3971 replies16 threadsRegistered User Senior Member
    @confusedgiraffe.
    What did you decide to do? Michigan starts in one week.
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  • yikesyikesyikesyikesyikesyikes 1840 replies129 threadsForum Champion U. Michigan Forum Champion
    SHA students are often not seen as true Cornell students by their peers from other parts of Cornell based on what I have seen and heard. Not sure if that has major implications in recruiting, however.
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  • cypresspatcypresspat 310 replies8 threadsRegistered User Member
    @coolguy40 Wiser words have rarely been written. Let’s hope the reader can be as wise.
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  • KnowsstuffKnowsstuff 3971 replies16 threadsRegistered User Senior Member
    @confusedgiraffe. Congrats!! Guess your not a confused giraffe no more lol.
    Think you made a great decision BTW. The opportunities you have at Michigan are unreal. Show a little initiative and they will go out of their way for you. My son's professor gave him an industry contact that he has a meeting this week with just by asking a question to the Professor. His mentor a professor not even in engineering in School of information is connected to Google, Microsoft, Amazon etc etc. and willing to help him out when needed.
    Use your resources there.
    Good Luck!
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  • sushirittosushiritto 3876 replies11 threadsRegistered User Senior Member
    edited September 9
    After those lackluster wins to open the football season, I’d be outta there if I was you. :lol:

    Personally I think it’s a great decision to stay. Best of luck.
    edited September 9
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  • happy1happy1 22769 replies2242 threadsVerified Member Senior Member
    edited September 9
    Good for you! Enjoy the rest of your time at UM. Your future (debt free) self will thank you for making this choice.
    edited September 9
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