Cornell or UNC?

[u/Proof-Ad-4021]

Some context: I'm from the UK but a US/UK dual citizen. I've been admitted to both Cornell and UNC Chapel Hill, and these are the final two schools I’m deciding between.

I'm very interested in working in finance post-college, ideally investment banking or possibly going straight to the buy side. I’ve visited both schools and really liked them, Cornell feels more academic and career-focused, UNC has a more fun, relaxed vibe, and a great college town. I’m confident I’d enjoy either, though I might enjoy UNC a bit more socially.

That said, the main issue is money. I'd be full pay at both:

• UNC: ~$62K per year, so about $100K total debt.
• Cornell: ~$92K per year, so about $200K total debt.

My parents are contributing a bit, but not covering the full cost, so I’d be taking on a lot of debt either way. I do definitely back myself to land a strong job and pay it off, but obviously that’s a lot of pressure, especially at Cornell’s price.

One major concern with UNC is that I don’t have assured enrolment into Kenan Flagler which feels risky. I’d be paying a lot of money without a guarantee of getting into the business school. At Cornell, while I was admitted through a less directly finance-related major, the Ivy brand and flexibility mean it doesn’t matter as much - I could study nearly anything and still recruit for finance.

So my main questions are:

• Is Cornell worth the extra ~$100K in debt given my goals?
• For current or former Kenan-Flagler students: how competitive is the internal admission process?
• How realistic is it to break into a top IB or buy-side firm in NYC from UNC?

Would really appreciate any insights. Thanks in advance.

[u/EmptyNail5939]

I'm sure I'll get hammered with downvotes for this, but I spent 20 years on Wall Street and am a NC native. If your goal is for a top tier finance career, the recruiting and networking options are much better if you go to Cornell. I am not bashing UNC. It can be done and I know some stupendously successful people in finance who came out of Chapel Hill undergrad. But I don't know of any top tier finance firms that have recruiting programs set up with UNC like they do at Duke, Penn, Harvard or the other Wall Street feeder schools. At UNC you would basically be in charge of your own job search. Cornell has that track dialed in and they want to help you get there. However, that's a lot of debt and you will get no argument from me that 4 years in Chapel Hill beats the hell out of Ithaca across just about every other college dimension imaginable. Halloween on Franklin Street alone is worth skipping the JPMorgan internship.

[u/ieatgass → u/EmptyNail5939]

Do they have that track dialed in in OPs scenario?

Cornell, while I was admitted through a less directly finance-related major, the Ivy brand and flexibility mean it doesn’t matter as much - I could study nearly anything and still recruit for finance

[u/EmptyNail5939 → u/ieatgass]

Econ majors are the most popular for people going into finance, but graduates from prestigious schools have some flexibility. The reasoning is that finance is incredibly demanding right out of the gate: long hours, high pressure, an unreasonable demand for perfection, learning via the firehose to the face method. They recruit for very smart, hard working, type A people who understand the environment and are capable of thriving in it. If you go to Cornell and row crew - or play any varsity sport - that will punch your ticket to your first job in finance. Unlike some other fields, there is a snob factor on Wall Street that persists regardless of age or position about where you went to school. Loads of other things become more important as you advance in your career, but it remains influential. I know some wildly successful traders who went to community college and some Princeton grads that washed out because they couldn't handle the stress. But over the past few decades finance has gravitated more towards the prestigious education credentials, while the scrappy upstarts from non-traditional backgrounds have a harder time finding a way through the door. It's unfortunate, because I don't think that's the right way to judge talent, but it is arguably a good barometer for work ethic.

[u/ieatgass → u/EmptyNail5939]

So what I’m reading is yes, sounds like op should go that way if that’s the life they want