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March 14, 2015 at 10:26 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783713March 13, 2015 at 10:26 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783660
an
Participantjoec, Paul Jacob went to UCB, Paul Allan went to Washington State University, Jerry Yang went to Standford, Larry Page went to UMich and Standford, Sergey Brin went to University of Maryland, College Park (public) and Standford, Tim Cook went to Auburn University (public) and Duke University for MBA, Steve Jobs went to Reed College and dropped out, Marissa Mayer went to Standford, etc. I can go on and on, but there are plenty who did not go to Ivy and made it big. I would rather my kid be Steve Jobs and drop out of Reed College than Zuch’s wife.
March 13, 2015 at 5:06 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783640Participant[quote=flu][quote=flyer][quote=flu][quote=AN]flu, UPenn is #1 Undergrad biz specialize in Finance. So, it’s obvious that it would carry some weight when you’re apply wall street. However, #3 is University of Michigan–Ann Arbor. Harvard is not even in the top 10. Do you think wall street would prefer Harvard over UMich?[/quote]
Actually, yes. Because there are a lot of people that go to Harvard on wall street. And wall street works like a fraternity. Hey, I don’t like it either, but that’s how the game works.[/quote]
Exactly to my point about how connections trump education in many, many cases.[/quote]
I won’t disagree with you there. there is definitely that angle to it too.[/quote]I totally agree with you both. Connection trump education. Luck trumps all.
March 13, 2015 at 5:02 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783642Participant[quote=spdrun]They can now, if they meet appropriate standards. Unless you propose to water down the standards for a degree. In that case, NO THANKS![/quote]No, I mean allowing JC to offer BSN, BA in Medical IT Management, etc. JC in CA just started allowing some BS/BA degree this year. It’s limited to degrees where you can start working right away but can’t do it w/ just an AS degree.
March 13, 2015 at 4:48 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783633ParticipantAlso, allow JC to offer 4 years degrees.
March 13, 2015 at 4:27 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783618Participantflu, UPenn is #1 Undergrad biz specialize in Finance. So, it’s obvious that it would carry some weight when you’re apply wall street. However, #3 is University of Michigan–Ann Arbor. Harvard is not even in the top 10. Do you think wall street would prefer Harvard over UMich?
March 13, 2015 at 4:19 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783617Participant[quote=FlyerInHi][quote=AN] It’s about spending it on A or B. It all comes back to ROI. I want to make sure they fully understand that if they spend on A, they can’t spend on B. Money is limited, so make what you spend on worth it.[/quote]
That makes perfect sense. You would talk to your kids and offer them options. But you wouldn’t necessary veto an Ivy League education as “not worth it.”[/quote]Yes, I would offer them options, but I would still hold the veto power. If they want to go into engineering and they got into UCB and Harvard and they choose Harvard, I would veto. UCB is the #3 engineering school vs Harvard, which doesn’t even make the top 10. Not only that but UCB would cost me $13,844 vs >$60k at Harvard. So yeah, I would veto if I think they’re making a mistake.
March 13, 2015 at 4:05 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783613Participant[quote=FlyerInHi][quote=scaredyclassic]Meh.
Education is generally bullshit.[/quote]
I could go with that.
But I’m sure your mother in law would be happy to tell her friends “my son in law is a lawyer from Harvard.” Isn’t there value in that?
She’s not going to say “my son in law graduated from University of Phoenix.”[/quote]Why compare Harvard vs University of Phoenix? If you can get into Harvard, then you can also get into UCB, UCLA, UCSD, UIUC, etc. If you can’t get into anywhere but University of Phoenix, then you’ll probably flunk out of Harvard anyways. So, would you rather say, “my son in law flunked out of Harvard” or “my son in law got a degree from University of Phoenix”?
March 13, 2015 at 4:02 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783611Participant[quote=flu]I wouldn’t. Because if my kids wouldn’t spend it. Someone else would try to figure out a way to spend it. At least if my kid wastes it, it’s still my kid that wastes it. :)[/quote]It’s not about spend vs not spending. It’s about spending it on A or B. It all comes back to ROI. I want to make sure they fully understand that if they spend on A, they can’t spend on B. Money is limited, so make what you spend on worth it.
March 13, 2015 at 3:44 PM in reply to: The cost of an Ivy League undergrad degree next year…. #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.
March 13, 2015 at 3:21 PM in reply to: The cost of an Ivy League undergrad degree next year…. #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 2:10 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783593Participant[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 9:47 AM in reply to: The cost of an Ivy League undergrad degree next year…. #783579Participant[quote=flu]I think if a kid can get in for something like business or law or medicine, then there might be some useful aspects to it. UPenn has a great undergrad business program and placement to Wharton MBA is pretty high, not to mention connections to wall street. Ditto for Harvard biz and law.[/quote]But business, law, and medicine are graduate and not undergrad. No one are where you got your premed, prelaw, etc. from. They just care where you get your MBA, law, MD from. So, if money matters, it would be smarter to go to states school (maybe even easy ones), get straight A and finish in 2-3 years, then apply to grad school.
March 13, 2015 at 9:37 AM in reply to: The cost of an Ivy League undergrad degree next year…. #783577Participant[quote=flu]You graduated at a time when the UC system wasn’t suffering from really constraint budgets… When I was going to school, folks that I knew that went to Berkeley and UCLA engineering couldn’t get the classes they wanted, and when they did, they often complained about class sizes. Funny part is that, I didn’t go to class that often when I was in school.
oh well. $400k for undergrad is just absurd.[/quote]When I went, CS & CE programs were compacted. So yes, there were budget/class size issue too. But I was on top of shit. I registered the minute it’s my turn, so I always got the classes I want. I also finish a lot of my GE at Mesa/Miramar when I was in HS. Which is why I was able to graduate in 4 years with ease while working 30 hrs/week.
March 12, 2015 at 10:32 PM in reply to: The cost of an Ivy League undergrad degree next year…. #783566Participant[quote=flu]The cost of my ivy league degree was ridiculous but not insanely ridiculous. And to be frank, for engineering… didn’t matter one freaking deal versus any other reputable engineering school, except maybe that I was able to finish in 4 years, versus at the time possibly taking me 6 years at a UC school when they were having budget shortfalls and difficulty for students to get the classes they needed.
For something else, perhaps with a pedigree wall street/ management consulting firm, it might make a bigger difference, simply because those companies don’t recruit from all schools. But then again, sibling went to the best UC school and did just fine with that too. For medical/dental/law, not sure…Some say it matters, some say it doesn’t.[/quote]I would have easily finished in 3 years if I wanted to. But I decided to work ~30 hrs/week and graduate in 4 instead. Which really help me with finding my first job. I was competing against kids who had no or little experience.
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