I guess it depends on her career path. If she’s also going into medicine, then college choice absolutely doesn’t matter. If she’s doing something that’s heavily connections/networking based (investment banking, computer science, etc), then yes. But definitely not for medicine. I went to an average state public university for free over the expensive Ivy and doing just fine, as I would suspect is the case with most other people on here.
Private Prestigious College ROI
- Thread starter foshizzo
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Thank you for all of the thoughtful replies. Ended up applying binding early decision to a top 3 liberal arts college and getting accepted.
As expected, no financial aid was offered. Out of pocket costs will be $85-90K annually. Will let you know in 5 years if it was worth it!
Informative website with U.S. News & World Report Historical Liberal Arts College and University Rankings:
andyreiter.com
As expected, no financial aid was offered. Out of pocket costs will be $85-90K annually. Will let you know in 5 years if it was worth it!
Informative website with U.S. News & World Report Historical Liberal Arts College and University Rankings:
Datasets | Andrew G. Reiter
U.S. News & World Report Historical Liberal Arts College and University Rankings Liberal Arts College Rankings (Updated Through 2024) Since 1983, the magazine U.S. News and World Report has been ranking US universities and colleges. While I do not in anyway endorse the specific methodology used...
andyreiter.com
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Thank you for all of the thoughtful replies. Ended up applying binding early decision to a top 3 liberal arts college and getting accepted.
As expected, no financial aid was offered. Out of pocket costs will be $85-90K annually. Will let you know in 5 years if it was worth it!
Informative website with U.S. News & World Report Historical Liberal Arts College and University Rankings:
Datasets | Andrew G. Reiter
U.S. News & World Report Historical Liberal Arts College and University Rankings Liberal Arts College Rankings (Updated Through 2024) Since 1983, the magazine U.S. News and World Report has been ranking US universities and colleges. While I do not in anyway endorse the specific methodology used...
Congratulations!
The OP mentions “she”. That automatically puts “her” ahead of the game with this diversity crap initiative the colleges and especially the acgme trying to counter balance male oriented specialist like orthopedic residencies.
The diversity crap doesn’t work in the finance world thankfully. So the school pedigree will definitely help land a nice consulting job out of college (after working 2 years at the feds and then going to mba school). That’s the usual track of these prestigious colleges and university.
So if the plan is med school. Save ur money and roll with a nice state school that’s cheap.
If the plan is finance. Go with elite schools.
I have nieces and nephews next gen family in both ivy colleges plus mit/Stanford plus top 5 state universities. They all got into med school. Although one kid thinking about ditching their med school acceptance and going into the tech world.
So not sure what the true value of an undergrad Stanford/mit education is for med school when they likely get in with a top 5 public state university.
The diversity crap doesn’t work in the finance world thankfully. So the school pedigree will definitely help land a nice consulting job out of college (after working 2 years at the feds and then going to mba school). That’s the usual track of these prestigious colleges and university.
So if the plan is med school. Save ur money and roll with a nice state school that’s cheap.
If the plan is finance. Go with elite schools.
I have nieces and nephews next gen family in both ivy colleges plus mit/Stanford plus top 5 state universities. They all got into med school. Although one kid thinking about ditching their med school acceptance and going into the tech world.
So not sure what the true value of an undergrad Stanford/mit education is for med school when they likely get in with a top 5 public state university.
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Congrats. A/W/S are all great schools!
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Diversity crap is very big in finance these days
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Actually the opposite is true for college admissions. 70% of high school valedictorians are female. 60% of college students. More than 50% of med students. We leveled the playing field for high school students and the girls are beating the boys hands down.
Opinion | To All the Girls I've Rejected (Published 2006)
A FEW days ago I watched my daughter Madalyn open a thin envelope from one of the five colleges to which she had applied. ''Why?'' was what she was obviously asking herself as she handed me the letter saying she was waitlisted. Why, indeed? She had taken the toughest courses in her high...
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Congrats! All these ROI questions kind of go out the window when it’s your kid. Mine are still little, but I know if they work hard and get into a good (expensive) school I’ll make it happen for them too if that’s what they want.
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What’re you saying? Being a female is still a big bonus when trying to get a job in the vast vast majority of fieldsActually the opposite is true for college admissions. 70% of high school valedictorians are female. 60% of college students. More than 50% of med students. We leveled the playing field for high school students and the girls are beating the boys hands down.
Opinion | To All the Girls I've Rejected (Published 2006)
A FEW days ago I watched my daughter Madalyn open a thin envelope from one of the five colleges to which she had applied. ''Why?'' was what she was obviously asking herself as she handed me the letter saying she was waitlisted. Why, indeed? She had taken the toughest courses in her high...www.nytimes.com
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I was discussing college admissions. The girls kill it in high school and college. Then a big chunk decide in their 20s to dial it down so they can have a family. IMO, It is the main reason why there are relatively few women that make it to the board rooms, or the very top of tiers of management. In order to get a seat at the big table in whatever field you need to work 70+ hours per week year after year after year. The people who are willing to do that are disproportionately men.
It is bad optics to have leadership dominated by men. Hence some preference for women- just at a different point in the ladder. Boys have an edge when applying for college against girls with comparable credentials. Women have an edge when applying for certain jobs than an equally qualified male is applying for.
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Is that better financially than doing 6-yr BS-MD program, then a 6-yr IM-->GI and start making 600--700k/yr at 30 scoping? Financially, medicine is the best deal out there.
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Definitely
One of those fields, you have to be good enough to score high and continue on the path. The other you just have to meet minimums, be affable and don't complain your bonus was only 6 figures instead of 7. If one applies the motivation and has reasonable people skills, they are making/breaking 700+ by age 30. Easily in to the multi-7 figures as they build a team of analysts and transition to "lead" "oversight" and "management". Especially in the past 10 years and the can't miss market that we had. Also bonuses are often 2-3x the base salary. The worst analysts who have not received any promotions at any of the big banks still are "stuck" at 400k total comp. Now they are usually paying NYC taxes though. All anecdotal evidence but coming from the NYC scene that I unfortunately socialize with.
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Survivor bias.
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Top Ivy / equivalent etc will give kids a advantage applying for any job (sure they may be fine from a lower tier school) but the connections in certain career paths (which most don’t follow) are invaluable.
There’s a reason why more billionaires, major entrepreneurs, Fortune 500 CEOs, presidents, senators etc come from these schools proportionally by far.
Sure if you end up a doctor it may have not been worth the investment in the end.
I’m fine paying if my kids happen to make it in. After all, what better use is there for your money other than giving your kids a leg up?
There’s a reason why more billionaires, major entrepreneurs, Fortune 500 CEOs, presidents, senators etc come from these schools proportionally by far.
Sure if you end up a doctor it may have not been worth the investment in the end.
I’m fine paying if my kids happen to make it in. After all, what better use is there for your money other than giving your kids a leg up?
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Ferrari
That's the fallacy of investing in the .001% chance that your kid will become a CEO.
If it works out, great. But 99% ok the time, your kid would be better off if you invested the tuition money instead
D
deleted1147063
AFAIK, you don't make 6-700K/year in most GI jobs. Unless you become a scope monkey and a partner. Same way people don't make 500K in most anesthesia jobs in my area, but this forum is full of those legends.
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Keep in mind you are getting paid the whole way through in finance as opposed to racking up debt in your 20s doing the medicine route.
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True but most people who work in finance live in New York City where rent is 3500 a month for a tiny one bedroom and groceries/food are insane. Many don’t put that much away unless bonuses are very high or they make it to a high level
