Your Questions About Disadvantages Of Gold Investment

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George asks…

Purdue Economics or IU Finance?

Currently I am a rising junior in high school and am starting to think about college. I know I want to do something in finance or economics, but I’m not sure which school to go to. I’ve been thinking about IB and sales and trading. I love the stock market and the idea of trading so I lean toward sales and trading, but I don’t want to limit my later exit opportunities. I live in Indiana so I will probably either attend IU or Purdue. I will qualify for the IU Distinction scholarships so I would graduate debt free. Also, I know IU has a unique Investment Banking and Capital Markets Workshop that can expose me to internships, leading opportunities and potential employers. Now this all sounds great and I’m set to go, but there’s one thing: I bleed gold and black. My parents went to Purdue and I am a huge fan of all their sports teams. However, I don’t know if Purdue can offer all of the opportunities that IU can, particularly in the NYC market (took a trip there and now can’t imagine living anywhere else). IU offers a finance major and Purdue Economics, both of which I would double with accounting. So I guess my question is, could Purdue offer me the same opportunities that IU could for my career? Could I go to Purdue and succeed in S&T or would I be at a severe disadvantage. In the end, I guess I would be able to plug my nose and go to IU (kidding), but my first choice without career implications is easily Purdue. IU campus is great, so that is not a factor either. Thanks for reading this and thank you for your input!

Justin answers:

It is going to be difficult to land a position as an Investment Bank Financial Analyst with an undergraduate degree from either Purdue or Indiana U. Investment Banks for the most part tend to recruit at more highly selective campuses. Ivy Leagues and universities like Chicago and Northwestern in the Midwest and Stanford, MIT, Berkeley, Duke, Amherst, Swarthmore, Wesleyan, Bucknell etc. These are mostly two year positions where the expectation is to then enter a top tier MBA program. It is with the Finance MBA that a student then is hired into the six figure Investment Banking Associate positions. Economics is the preferred major as opposed to Finance. Most top tier Business Schools don’t even offer undergrad Business degrees and do not prefer applicants with undergrad Business degrees. It is seen as too narrow a focus. An Economics BA degree teaches the big picture and is complemented by a Finance MBA. At Purdue, an Engineering degree supplemented by Intermediate Macro and Micro Econ and maybe a Money and Banking class as well as Financial Accounting would give a better chance of being hired as an IB Financial Analyst than an Economics degree. (Intermediate Micro and Macro Econ Theory classes are the most important classes in any Econ major.) After all, Purdue is known for Engineering and Ivy Leagues with the exception of Cornell, are typically weak in Engineering. A good portion of Ivy Leaguers competing for these positions have Economics degrees. Purdue however is also known for a very low degree of grade inflation.
Http://www.gradeinflation.com/
http://www.cfainstitute.org/cfaprogram/pages/index.aspx
If financing college is an issue and your family makes too much income for an ivy league/highly selective private university education to be low cost or free….
Http://news.yale.edu/2008/01/14/yale-cuts-costs-families-and-students
….and you are a varsity athlete, then, might want to consider a service academy or an Nrotc/Rotc/Afrotc scholarship.
Http://answers.yahoo.com/question/index;_ylv=3?qid=20120125193024AA11LUr
This can be a good track into a top tier MBA program as Business Schools value the leadership of military officers. The pay is also fairly good when the tax free housing allowance, BAH, is included. O-1 to O-2 in 24 months. O-2 to O-3 in another 24 months. BAH varies with location.
Http://militarypay.defense.gov/mpcalcs/Calculators/RMC.aspx
http://haas.campusgroups.com/veterans/alumni/
http://www.career-satisfaction.army.mil/wp_branch_slides.html
http://i46.tinypic.com/2vmzon6.jpg
Good Luck!

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