Friday, November 18, 2011

Does an ivy league diploma pay for itself?

This is going to sound silly, but bear with me.I'm currentlyfinishing my freshmen year at a canadian college and thinking of transfering to an ivy. Admission isn't really my issue right now (I'm confident I at least have a shot), the question I'm asking myself right now is whether or not its worth it monetarily speaking since I will have to loan quite a bit (mid 5-figures) to afford it.





Now the expected salary I can expect from my current near no-name school is about 35,000$ (advertising and english major, btw). What sort of salary can one expect graduating from an ivy?





A lot of people say that the return really only happens at grad school level but due to my field i may not get an MBA so its a now-or-never sort of situation. Would the return salary-and-job-opportunity wise be worth it or is it still an equal playing field after an ivy undergrad?





Thanks in advance, holistic education is of course a priority but at those prices its important to be realistic about the $$ return.

Does an ivy league diploma pay for itself?
An Ivy League degree has its advantages: it earns your resume a second glance at many companies, and it can result in valuable contacts or internship opportunities that may help you land a full-time job later on. But will it guarantee you more than $35K in an entry-level job in your field? Sad to say, but no. You're still going to have to work your way up the ladder, and the promotions you earn from there will be based on your performance (and yes, potentially grad degrees). The question is whether or not you think what you'll learn at an Ivy League school will give you the additional tools you need to really succeed.
Reply:Actually, for a highly competitive field like advertising, going to a top ranked program can help you get your foot in the door. But that highly ranked program isn't necessarily at an Ivy - in fact, you may want to look at Syracuse University. Do some research on the types of opportunities that arise from that school.





Also consider the Ivys, yes. Because going to an elite school with a lot of name recognition and deep, high level alumni contacts can really help when it comes time to get that first job, and afterwards. It can make a difference, yes. But don't limit yourself to the Ivys. Also consider the "baby Ivys" - those colleges that are small and elite, but not universities. Amherst College, Wellesley, Middlebury, Oberlin, etc.





But you're Canadian, and so should also consider transferring up a serious level to the top Canadian universities instead of coming to the US and going to an Ivy. This can really work, especially if you will be working in Canada after graduation. Check McGill, and U Toronto, as serious upgrades to your current university. These options should be significantly cheaper to you, as a Canadian resident, than attending uni - especially an elite uni - in the US. They are the top two Canadian universities on most ranking tables, and they usually rank top 50 internationally. No, their name recognition outside Canada isn't as strong as, say, Harvard, but you'll likely work inside Canada when you graduate, and that could work out for you.
Reply:Well the thing is, at all colleges you're kind of getting the same thing... the same classes are begin taught by high level, intelligent professors. I guess people would see an ivy leaugue diploma as "better", but it's not like you'll be getting an especially better education.


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