Choosing between Washington University in St. Louis (WUSTL) and Rutgers for your master's program is a significant decision, especially considering the financial implications and career outcomes. Here are some insights to help you evaluate both options:
### Financial Considerations
1. **Cost and Scholarship:**
- **WUSTL:** The original tuition is $100,000, but with a $45,000 scholarship, your net tuition cost is $55,000.
- **Rutgers:** The tuition is $75,000 with no scholarship, making it more expensive than WUSTL after considering the scholarship.
2. **Return on Investment (ROI):**
- **WUSTL:** With a lower net tuition cost, the ROI might be higher, especially if the job placement rates and starting salaries are comparable to or better than Rutgers.
- **Rutgers:** The higher tuition cost means you'll need a higher starting salary to achieve a similar ROI.
### Program Reputation and Ranking
1. **WUSTL MS Finance:**
- Ranked among the top 15 MS Finance programs in the US.
- Strong reputation and potentially better recognition in the finance industry.
- May offer better networking opportunities and access to alumni in prominent financial roles.
2. **Rutgers MQF:**
- Ranked among the top 15 Master's in Quantitative Finance programs in the US.
- Known for its quantitative focus, which might be beneficial if you're interested in roles that require strong quantitative skills.
### Career Outcomes and Placement
1. **Job Placement:**
- Both programs likely have strong placement records, but you should research specific placement statistics, such as the percentage of graduates employed within a few months of graduation and the types of companies recruiting from each program.
- WUSTL might have an edge in placement due to its broader finance focus and reputation.
2. **Career Trajectory:**
- **WUSTL:** Graduates may have access to a wider range of finance roles, including investment banking, private equity, and corporate finance. The program's reputation could open doors to more prestigious firms.
- **Rutgers:** Graduates might be better positioned for roles that require advanced quantitative skills, such as quantitative analysis, risk management, and trading.
3. **Alumni Network:**
- Both programs will have alumni networks that can be valuable for job searches and career advice. WUSTL's network might be slightly more extensive and influential due to its longer history and broader program scope.
### Decision Factors
1. **Career Goals:**
- Consider your specific career goals and the type of roles you're targeting. If you're aiming for traditional finance roles, WUSTL might be the better choice. If you're more interested in quantitative finance, Rutgers could be more suitable.
2. **Financial Burden:**
- Evaluate your comfort level with the financial burden of each program. WUSTL's lower net cost could make it a more attractive option, especially if the career outcomes are similar.
3. **Program Curriculum:**
- Review the curriculum of both programs to see which one aligns better with your interests and career aspirations.
### Conclusion
Both programs have their strengths, and the best choice depends on your personal preferences, career goals, and financial considerations. WUSTL offers a strong reputation and potentially better ROI due to the scholarship, while Rutgers provides a specialized focus on quantitative finance. Researching placement statistics, alumni outcomes, and talking to current students or alumni can provide additional insights to help you make an informed decision.