- This topic has 533 replies, 25 voices, and was last updated 9 years ago by
scaredyclassic.
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March 13, 2015 at 1:30 PM #783587March 13, 2015 at 1:36 PM #783589
scaredyclassic
ParticipantIf money is no object, fine.
Otherwise, money matters.
March 13, 2015 at 2:10 PM #783593an
Participant[quote=flu]Actually, for undergrad business on wall street, coming from UPenn does carry a lot of weight.
Because it’s one of the few undergrad programs that actually does have a reputable business undergrad program. Not saying it’s something for everyone, or everyone needs to go that path, but companies like McKinsey, Bain, Goldman, recruit at those select undergrad schools, if that is your thing. Berkeley happens to be one too. But not everyone needs wants/needs to go that career path.Reality is that only a small percentage of the folks end up going into these sort of professions/opportunities for which the end career path might actually justify such a big school expense expense. I’d say about 90% of the rest of the folks, it wouldn’t make much difference.[/quote]You’re right, if you’re going into wall street or something like that where a BS degree from a particular school matter, then by all mean. But to fork out 250-400k for the BS degree, you better know for damn sure that’s the career path you really want to be in. It’s a waste of $ to spend $250-400k for a BA in communication.
Wall street only a subset of business. If you have to get an MBA, then would a BS at a particular university matter? As long as your MBA/law/MD degrees are from the tier one business/law/medical school, I think that’s all that matter. Even law and md, if you plan to open your own practice, would tier one matter as much as what you can do after you graduate?
March 13, 2015 at 2:40 PM #783595Anonymous
GuestWhenever discussions of the value of an Ivy league education are debated, it always comes down to “if you want to work on Wall Street”. While there may be some merit in that fact, the reality is, not everybody wants to work on Wall st. Personally I think NYC is a shit hole and wouldn’t want to work there no matter what the pay. I’m sure many others feel the same way.
March 13, 2015 at 2:50 PM #783596spdrun
ParticipantPersonally I think NYC is a shit hole and wouldn’t want to work there no matter what the pay.
I’d agree with you about not wanting to work on Wall Street, but way to paint an entire city with a broad brush…
March 13, 2015 at 2:58 PM #783598
CoronitaParticipant[quote=deadzone]Whenever discussions of the value of an Ivy league education are debated, it always comes down to “if you want to work on Wall Street”. While there may be some merit in that fact, the reality is, not everybody wants to work on Wall st. Personally I think NYC is a shit hole and wouldn’t want to work there no matter what the pay. I’m sure many others feel the same way.[/quote]
Sure, but there are also people who think $400k is chump change. I guess my point wasn’t to say that Ivy League school is a bad decision for everyone. I think it’s a great option if money wasn’t a concern for your family and you could view $400k as a drop in the bucket or if you got some sort of scholarship. If this level of money wasn’t an issue for me and I could spend this on a blink of an eye, I wouldn’t even bother to hesitate if my kid could get in.
But reality is, (at least for me) $400k is a lot of money. It’s not a drop in the bucket, and unfortunately for my kid, for my kid to even consider these schools, I would want to know what the the ROI is. For business? Fine. For medicine, ok maybe. To become a professor in some specialized PHD program, ok maybe. Other things, not so sure.
Anyway, it really is a moot point because the assume is my kid even gets in. This might not even be a problem to have 🙂
March 13, 2015 at 2:58 PM #783599FlyerInHi
GuestI just think that an ivy league education is a once in a lifetime opportunity accorded to only a few.
It’s an honor that you carry with you, just like anything else that might make you feel proud and confer status in society. Something you can choose to use to your advantage, or not.
I’m sure people would think of Obama differently if he graduated from Howard University instead of Harvard. I don’t think he would be President had he not gone to Harvard.
March 13, 2015 at 2:58 PM #783597Guest[quote=spdrun]
Personally I think NYC is a shit hole and wouldn’t want to work there no matter what the pay.
I’d agree with you about not wanting to work on Wall Street, but way to paint an entire city with a broad brush…[/quote]
That’s just my opinion of the place. But in general the lifestyle of living/working in NYC is not for everybody.
And more to the point, for somebody from California who hypothetically wants to live in California in the long run, what is the advantage (if any) of the Ivy league education? Ivy League historically caters to East Coast elites. They are simply not that relevant for West Coasters.
March 13, 2015 at 3:04 PM #783600Guest[quote=FlyerInHi]I just think that an ivy league education is a once in a lifetime opportunity accorded to only a few.
It’s an honor that you carry with you, just like anything else that might make you feel proud and confer status in society. Something you can choose to use to your advantage, or not.
I’m sure people would think of Obama differently if he graduated from Howard University instead of Harvard. I don’t think he would be President had he not gone to Harvard.[/quote]
That is sort of an antiquated way of thinking. Today I don’t think the general population is as impressed with Ivy league as say 50 years ago. Certainly employers are not outside of niche industries such as Wall St. If you look back on your life and your Ivy League degree is all you have to hang your hat on, then you have had a pretty un-inspiring life. In fact I know some Ivy league grads who professionally have done nothing with their life.
March 13, 2015 at 3:14 PM #783601flyer
ParticipantWhen you compare notes with people who have kids in or a few years out of college the resounding concern is how they are going to get the jobs they want, where they want them.
Having been raised here, our kids and most of their friends wanted to stay on the West Coast. Our kids have been lucky in that regard, but it’s astounding how most have had to leave–in order to make their degrees pay off–regardless of where they went to college.
The competition out here is fierce, so it’s probably best to let your kids know a college degree is not an absolute guarantee of getting what you want in life.
March 13, 2015 at 3:19 PM #783602GuestIt depends what you value in life… but I would argue that most of what we value is aspirational.
The houses and neighborhood we select are for aspirational reasons.
It’s not only one thing but a multitude of factors that contribute to self-worth and happiness. Society looking up to us makes us feel better and happier.
If your kid can get in (slim chance), and you can but won’t pay, then you’re a shitty parent.
And, deadzone, you’re way off base about the Ivy league. Sure there are elitist pricks who didn’t get in on merit, but even they know they need to behave.
Those who do get in on merit are the smartest. I believe there were many studies to confirm that.There are many more spoiled elitist pricks at the shit schools — the only schools they could get in, even with their parents’ money. That’s where they go to party.
March 13, 2015 at 3:21 PM #783603ParticipantEven if I think $400k is chump change, I would still like to instill in my kids the value of money and that it doesn’t matter how much you have, it’s all about how much you spend. Especially, what’s the ROI. Don’t spend for the sake of spending just because you can. That’s how all those millionaires go broke. I want them to also think about opportunity cost. If they’re entrepreneur in spirit, I would much rather put that $400k in their start up/small biz than an Ivy degree. I know a couple of people who graduated at prestigious UC with a CS and BioEngineering degree. Immediately after graduation, they moved to a small town, open up a cell phone shop. Now, they own 20-30 cell phone franchise stores. They’re making much more money than they probably would as engineers, unless they got lucky and work for companies like Instagram.
March 13, 2015 at 3:39 PM #783604GuestAN, in the same vein as your story, I know a guy who has a master in aerospace engineering from a top school… But he’s a broker of scrap metal parts. He owns a junk yard.
He makes more money than working for a salary. But the difference is that he had the education which shaped his outlook on life. He is not the typical junk yard owner who has no education. Therein lies the qualitative difference.
March 13, 2015 at 3:40 PM #783605ParticipantMeh.
Education is generally bullshit.
March 13, 2015 at 3:44 PM #783606Participant[quote=FlyerInHi]AN, in the same vein as your story, I know a guy who has a master in aerospace engineering from a top school… But he’s a broker of scrap metal parts. He owns a junk yard.
He makes more money than working for a salary. But the difference is that he had the education which shaped his outlook on life. He is not the typical junk yard owner who has no education. Therein lies the qualitative difference.[/quote]I’m not trying to say college is worthless. I was just trying to say the $200-300k more you’re spending for Ivy league might not be worth it. However, they actually told me they wish they would have just skipped college and start doing it 4 years earlier.
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