Yale SOM vs. NYU Stern

Question

I'm planning on heading into investment management. Got into both Stern and SOM. Unsure about which to choose. I know Stern is finance plus but SOM is definitely on the upswing across the board. Any thoughts?

VeritasPrepDozie · Answer

I would go with Stern here, based in NY, great finance rep, more established and better reputed MBA program. Yale's main advantage is the overall university wide rep. I would go with Stern

frank9166 · Answer

Thanks for the reply.

I'm getting that same feeling every time I pro/con the two schools. I can clearly point out a higher alumni count in the IM industry, easier access based on location, finance reputation, professor connections within the industry. And everytime I count on Yale, it's mostly that... for goodness sake, it's Yale!!

aerien · Answer

Not sure if your mind is already made up or not, but if you look at investment management placement stats for both schools, they're both at ~3%, and even for the larger finance umbrella both are at ~25% (based on classes of 2014 and 2015 data). So really not far off at all.

Yes, Stern has a great finance reputation and being in NYC means that you'll be able to put in a lot of face time at all the firms you're interested in. That doesn't mean being in ~2hrs away in New Haven will you at much of a disadvantage from a recruiting perspective.

I hope you take the time to see which school is right for you beyond simple employment stats. You do want to enjoy your time in business school -- be that the classmates you're around, the type of educational environment you are in, as well as costs of attending the program overall (New Haven cost of living is much cheaper than that in NYC).

Happy to connect you with any IM - focused students at SOM if you're interested. PM me.

Izzy767 · Answer

I am in a similar position as you in that I am choosing between Stern and SOM and am interested in finance (I would like to do impact investing, but am also considering IM generally or IB).

I definitely wouldn't go to Yale just for its name, if that's the only value you see in it. You are, after all, not going to be attending the undergrad program or the law school. I would base it on fit. For me, while I am looking to go into finance and I think Stern is a great program for that (particularly for IB), I think that Yale is the better school overall and I am looking at my MBA degree more holistically and SOM's mission and focus aligns well with me.

With regards to the interest in IM, I'm not sure what your background is, but I personally don't come from an investing background and my discussions from students and alumni at Stern have shown me that finance tracks are extremely competitive there, such that if you don't have an investing background you can pretty much rest assured that you won't get a chance to go into anything but IB (exceptions aside, particularly if you have a lot of contacts in IM). SOM, because it has fewer students going into finance, sees less competition among the students but still has top firms recruiting there. It is still difficult to go into IM without prior experience (again, not sure if this is your case), but in terms of placements SOM does well. Also, while Stern is in NYC and the location is important, keep in mind that you are basically expected to be recruiting on a daily basis. At SOM you can focus a little more on the academics (you sort of have to.. I heard the professors aren't very lenient in terms of missing classes), as recruiters are not expecting you to be around as much as Columbia or Stern students and don't hold that against you.

I also think people give Yale a huge discredit; it is a top ten school (and no, not just because of its name) and is only going up. I look at it this way: the MBA program at Yale is 17 years old, while the MBA at HBS has literally been around for over 100 years. Yale University is making a huge effort and putting in a ton of resources to improve SOM and its reputation. I see the direction that this program is going in and I think it is only going to get better and better (not to mention that I think it is a fantastic school as is).

8088 · Answer

Hey  frank9166 ,

Congrats on getting into two outstanding B-schools! You have a hard decision in front of you!

You can't go wrong at both schools, but let me put a plug in for SOM:

I think VeritasPrepDozie isn't giving SOM enough credit and is basing his entire recommendation on his perception of the schools, without any specific data. If you look at the most recent USNW data, Stern's peer assessment score and recruiter assessment scores are 4.2 and 4.0, respectively. SOM's are 4.3 and 4.3, respectively. Hard to argue that Stern is based in NY - that part he totally got correct - but SOM is just one metro-north train ride away.

If you're interested in Asset/Investment management, take a serious look at SOM. Stats are fairly similar (Stern: 3% into Investment Management, $115K median; SOM: 5% into Investment Management, $120K median). I suppose one variable in your calculus is what sort of Asset Management you're interested in - As you know, SOM is really strong in institutional asset management and you have a direct channel to David Swensen and his team there. Both schools are very strong in neighboring industries - IB/PWM, PE/VC.

Two final thoughts -

I'd take a look at the trajectory of the school, in terms of ROI on your B-School degree. Your MBA is an expensive investment - but in some sense, it is exactly that - an investment and you'd want to choose one that gives you the best bang-for-the-buck, years from now.

Finally, have you had an opportunity to visit both campuses? When I visited Stern and SOM, I felt two different vibes. You're going to be at B-School for two years and creating long-lasting friendships and network connections and I think, just as  Izzy767  said, fit is as  critical   a component as any. I hope you're able to attend welcome weekend at SOM and Stern's similar event as well!

If you have any other questions, or would like to chat with a current student, feel free to pm me!

Sources:
 https://som.yale.edu/sites/default/files/files/Yale-SOM%20Employment%20Data%202015-16.pdf 
 https://www.stern.nyu.edu/portal-partners/recruiters/stern-advantage/full-time-employment-reports-2/compensation-industry

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