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How much does a University's ranking matters?

RealDreams

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Hey guys. So as a 19 y/o kid I got accepted in one of the best universities in my country for the faculty of economics.
I've read a thousand threads about "is college worth it" but, don't worry, this is not the question I want to ask you today.
I also know getting a degree in economics most likely makes me a corporate slave for the rest of my life, unless I decide to start a business on my own. I already own a "business", even though I can't call it like that yet, as I'm still working on building its system.

Anyways, I got recently accepted in two universities:
  1. One is ranked top 3 for "Economics" in Italy. The problem? This university is in a small city (100k inhabitants) and I'm concerned about the lack of entertainment I'll enjoy there.
  2. The other university is in an 800k city (always in Italy), but it is not ranking very well (top 15).
Now, I was wondering. How much do these rankings truly matter?
Should I say "F*ck you" to the bigger, and more entertaining city and instead opt for the other University in the smaller city?

I'm sure my future comes first when talking about this kind of decisions, but I was wondering how much these rankings truly matter at the end of the day.
Should I completely forget about women and entertainment and opt for the university that will bring me a slightly better future?

What's your experience? Thank you guys.
 
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FriendlyVillain

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Hey guys. So as a 19 y/o kid I got accepted in one of the best universities in my country for the faculty of economics.
I've read a thousand threads about "is college worth it" but, don't worry, this is not the question I want to ask you today.
I also know getting a degree in economics most likely makes me a corporate slave for the rest of my life, unless I decide to start a business on my own. I already own a "business", even though I can't call it like that yet, as I'm still working on building its system.

Anyways, I got recently accepted in two universities:
  1. One is ranked top 3 for "Economics" in Italy. The problem? This university is in a small city (100k inhabitants) and I'm concerned about the lack of entertainment I'll enjoy there.
  2. The other university is in an 800k city (always in Italy), but it is not ranking very well (top 15).
Now, I was wondering. How much do these rankings truly matter?
Should I say "F*ck you" to the bigger, and more entertaining city and instead opt for the other University in the smaller city?

I'm sure my future comes first when talking about this kind of decisions, but I was wondering how much these rankings truly matter at the end of the day.
Should I completely forget about women and entertainment and opt for the university that will bring me a slightly better future?

What's your experience? Thank you guys.
Research what companies recruit directly from both universities, and see which ones do you prefer. Also, if you are into entrepreneurship, the degree would not matter at all. However, if you want to build a career, I would go with the university that has a better ranking.

Bear in mind, that most universities probably pay for rankings. I've been on an exchange at Bocconi (I have graduated with Economics and Finance), and I can say it's very tough, but the exit opportunities are very good also.
 

NursingTn

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What do you want to get out of your college experience?
 

Dan_Cardone

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Either.

If thats the route you really want to go then focus on getting excellent grades, networking with others, having lots of out of school things to sbow future employers, and work on having amazing interview and research skills.
 
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RealDreams

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Research what companies recruit directly from both universities, and see which ones do you prefer. Also, if you are into entrepreneurship, the degree would not matter at all. However, if you want to build a career, I would go with the university that has a better ranking.

Bear in mind, that most universities probably pay for rankings. I've been on an exchange at Bocconi (I have graduated with Economics and Finance), and I can say it's very tough, but the exit opportunities are very good also.
Yeah, the Bocconi University is the best one here in Italy. No doubt graduating from there would make your future quite bright in terms of corporate career.
 

RealDreams

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What do you want to get out of your college experience?
Either.

If thats the route you really want to go then focus on getting excellent grades, networking with others, having lots of out of school things to sbow future employers, and work on having amazing interview and research skills.

To be honest, my parents are forcing me to go to "one" university. They told me I should either go to Uni or find a job. At this point, I prefer going to Uni and at the same time work on my business.

What do I want from university? To be honest I'm not expecting much from it. I'm sure the stuff they teach you, you can find on Investopedia or sites like that with some research. I'm just trying to make my parents "proud" even if I know this is a very weak choice I'm making.

To be honest, I also just want to move from my parents. And they accepted to support me only as long as I go to a university.

I want to note that University here is different from the American college. So, delete the "fun" part from the equation because we don't have fraternities, dorms and the party lifestyle. And what remains? Almost nothing.
 

1step

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Small city less distractions, less to do more time for business
 
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Kid

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If you're not sure about your entrepreneurial future go to better one.
It will work as a cushion for bad times.

If you're sure you'll make it, go for the other, life is rarely worth to participate in rat race that might be happening at a top uni.
 
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Kevin88660

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Hey guys. So as a 19 y/o kid I got accepted in one of the best universities in my country for the faculty of economics.
I've read a thousand threads about "is college worth it" but, don't worry, this is not the question I want to ask you today.
I also know getting a degree in economics most likely makes me a corporate slave for the rest of my life, unless I decide to start a business on my own. I already own a "business", even though I can't call it like that yet, as I'm still working on building its system.

Anyways, I got recently accepted in two universities:
  1. One is ranked top 3 for "Economics" in Italy. The problem? This university is in a small city (100k inhabitants) and I'm concerned about the lack of entertainment I'll enjoy there.
  2. The other university is in an 800k city (always in Italy), but it is not ranking very well (top 15).
Now, I was wondering. How much do these rankings truly matter?
Should I say "F*ck you" to the bigger, and more entertaining city and instead opt for the other University in the smaller city?

I'm sure my future comes first when talking about this kind of decisions, but I was wondering how much these rankings truly matter at the end of the day.
Should I completely forget about women and entertainment and opt for the university that will bring me a slightly better future?

What's your experience? Thank you guys.
Choose the university with good “superficial” brand.

In other words choose the “Harvard” equivalent in your country if there is such a strong brand.

Because since everything actually “doesn't matter”, only the brand lasts forever. You can be a joker who actually did engineering in Harvard instead of doing it in MIT. Who cares? Who knows about the details? Once you step out of the academia only the brand lasts. Harvard still smells better and no matter care about Harvard’s engineer department’s reputation vs MIT’s engineering department. Don’t worry about whose Economics department is better if you have a “harvard brand” in your country. And no matter where you study Economics you will be studying U.S. text book material so it makes little difference in the quality of education. You will be studying the great work of Keynes, Friedman, Ricardo, Lucas, Samuelson and “celeb pundit” like Paul Krugman. If you have passion in the subject like I do you will enjoy it no matter where you study it.

I did Economics degree. It is an academic subject. It is not a job friendly discipline like computing or engineering. Even if you do finance jobs it is just treated like a general degree like business. People with more quantitative background can actually open more doors in finance.
 

ZF Lee

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I'm sure the stuff they teach you, you can find on Investopedia or sites like that with some research.
Sure, you can find stuff online, but you would lack direction.

You could use a business need as a staging point, but you might not know a lot of the field to begin with.

So, it's weird for you to hear this, but college assignments, as long as they are well thought of, and designed, can be fantastic learning experiences.

I can remember some of my favourite assignment topics that involve economic data:

-studying Multi-Dimensional Poverty Index for regression analysis (from intro stats class)

-analyzing as to whether interest rates can forecast inflation (we took 3, 9 month and 1 year Treasury bill rates, ran them in the system to find HSK and serial correlation, covered up their errors and did more regressions)

-Just finished a forecasting project using R, studying HK's housing affordability. Soon, we'd be looking at the data to examine ARIMA models.

Each of these assignments can be a great case study by itself to talk to clients or future bosses, and they taught me lots on project management and common shortcomings to shore up when working.

You can find sample problems online, be it on Cross-Validated, Kaggle and so on, depending on your intended business area, but as a start, you'd be going in with next to zero background, and would be more likely to fade off, procrastinate and loose momentum completely.

Decent professors and starter college courses can work to provide an initial staging point to point you in the right direction.

Choose the university with good “superficial” brand.

In other words choose the “Harvard” equivalent in your country if there is such a strong brand.
Another way to dig deep is to google the college's website, check out the professor profiles for your department of interest, and look up his/her research.

If their research papers are very well-thought of, and interests you to no end, it can be a good indicator.

Of course, it doesn't always mean that great research means the fella is great at teaching.
But I have found that the professors who teach averagely, but had decent research/ work experience worked great on one-to-one calls in private consultations.

I did Economics degree. It is an academic subject. It is not a job friendly discipline like computing or engineering. Even if you do finance jobs it is just treated like a general degree like business. People with more quantitative background can actually open more doors in finance.
Weird. Thought the economists-to-be would have to know some data processing techniques for research, more or less policy-making.

I had to do an econometrics intro unit, although I didn't major in Economics, and it was compulsory for Economics kids to also register for the unit. It's quite math heavy, what with OLS formulas, HSK and time series components,. Not a few kids flunked, but at least we knew how theories got their grounding.

As for finance, just a side tip for OP if you wanna take finance...keep a keen eye on corporate finance units, if you get any. Many concepts like dividend policy, capital management and pricing models are repeated in many other areas like financial institutions (e.g. banking) and portfolio management.

I want to note that University here is different from the American college. So, delete the "fun" part from the equation because we don't have fraternities, dorms and the party lifestyle. And what remains? Almost nothing.
While my own university has its party scene, I never join in.
There's already lots of work to do myself!

So no worries.

If you really want to do something uni-related, best to check out if the university is focused on research or networking opportunities...anything to help you 'sharpen the sword'.
 
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Bertram

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Hey guys. So as a 19 y/o kid I got accepted in one of the best universities in my country for the faculty of economics.
I've read a thousand threads about "is college worth it" but, don't worry, this is not the question I want to ask you today.
I also know getting a degree in economics most likely makes me a corporate slave for the rest of my life, unless I decide to start a business on my own. I already own a "business", even though I can't call it like that yet, as I'm still working on building its system.

Anyways, I got recently accepted in two universities:
  1. One is ranked top 3 for "Economics" in Italy. The problem? This university is in a small city (100k inhabitants) and I'm concerned about the lack of entertainment I'll enjoy there.
  2. The other university is in an 800k city (always in Italy), but it is not ranking very well (top 15).
Now, I was wondering. How much do these rankings truly matter?
Should I say "F*ck you" to the bigger, and more entertaining city and instead opt for the other University in the smaller city?

I'm sure my future comes first when talking about this kind of decisions, but I was wondering how much these rankings truly matter at the end of the day.
Should I completely forget about women and entertainment and opt for the university that will bring me a slightly better future?

What's your experience? Thank you guys.
I have the expert answer. Please read this entire comment.
Currently I have a post as a senior research scholar at a top-ten U.S. university (top-three program) as a side hustle, and I have some years in the trade at Ivy League schools. I have volunteered as in-depth consultant to families of admitted students. These facts are not out here so that I can brag, but quite the opposite! I insist that I know the score here.
Here's the answer. You choose based on the ranking of the academic department, never the university's prestige.

Example: The University of Arizona and the University of Lowell, in Massachusetts, surpass California Institute of Technology (CalTech), MIT, Princeton and (of course) Harvard, for several hot degree specializations in physics, applied sciences, VR, optics research and so on.
Another example: The best applied linguistics program in the entire United States is at a little university satellite campus right outside Phoenix, AZ.
Example: Over one third of the physics majors at Princeton University decide to ditch science careers in their second year, thanks to the deadwood faculty, over-populated classes, too few high-level research opportunities, heavy lab work that provides little relevant training in the real world, and way too many graduate students that faculty must invest in instead of the undergrads. The result is that one-third of the graduates who labored to get physics degrees go to work on Wall Street after graduating. So forget overall university ranking. Always.

In your case @VicFountain this is a complete no-brainer. Congratulations for getting into a program ranked in the top three in your country. That's really as good as it gets. Attend that school. Your peers will no doubt have the resources and energy to make the experience fantastic. You're comparing the two cities as an outsider. Focus on what you want to get out of your time investment. Do you prefer a lifelong, strong professional network and the best mentors on the planet? Or do you prefer a great selection of restaurants and bars?

As for the economics degree, seriously that's effectively a hunting license to work in almost any field.

And to parents and college applicants on the forum, when your kiddo applies to college, ask what the national or continental ranking is for a particular department. If it's in the top 10, or top 25 for their major then you're really all set.
If your kiddo doesn't know what to major in, then it's time to look at undergraduate transfer rates and graduation rates. Compare these rates with the "better-ranked" schools. High transler and lower graduation rates are a bad sign.



Congratulations. The choice is easy. Do well!


@Kevin88660
 
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Kevin88660

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Sure, you can find stuff online, but you would lack direction.

You could use a business need as a staging point, but you might not know a lot of the field to begin with.

So, it's weird for you to hear this, but college assignments, as long as they are well thought of, and designed, can be fantastic learning experiences.

I can remember some of my favourite assignment topics that involve economic data:

-studying Multi-Dimensional Poverty Index for regression analysis (from intro stats class)

-analyzing as to whether interest rates can forecast inflation (we took 3, 9 month and 1 year Treasury bill rates, ran them in the system to find HSK and serial correlation, covered up their errors and did more regressions)

-Just finished a forecasting project using R, studying HK's housing affordability. Soon, we'd be looking at the data to examine ARIMA models.

Each of these assignments can be a great case study by itself to talk to clients or future bosses, and they taught me lots on project management and common shortcomings to shore up when working.

You can find sample problems online, be it on Cross-Validated, Kaggle and so on, depending on your intended business area, but as a start, you'd be going in with next to zero background, and would be more likely to fade off, procrastinate and loose momentum completely.

Decent professors and starter college courses can work to provide an initial staging point to point you in the right direction.


Another way to dig deep is to google the college's website, check out the professor profiles for your department of interest, and look up his/her research.

If their research papers are very well-thought of, and interests you to no end, it can be a good indicator.

Of course, it doesn't always mean that great research means the fella is great at teaching.
But I have found that the professors who teach averagely, but had decent research/ work experience worked great on one-to-one calls in private consultations.


Weird. Thought the economists-to-be would have to know some data processing techniques for research, more or less policy-making.

I had to do an econometrics intro unit, although I didn't major in Economics, and it was compulsory for Economics kids to also register for the unit. It's quite math heavy, what with OLS formulas, HSK and time series components,. Not a few kids flunked, but at least we knew how theories got their grounding.

As for finance, just a side tip for OP if you wanna take finance...keep a keen eye on corporate finance units, if you get any. Many concepts like dividend policy, capital management and pricing models are repeated in many other areas like financial institutions (e.g. banking) and portfolio management.


While my own university has its party scene, I never join in.
There's already lots of work to do myself!

So no worries.

If you really want to do something uni-related, best to check out if the university is focused on research or networking opportunities...anything to help you 'sharpen the sword'.
The demand for Economists in private sector is very small. A large bank just need 3-5 Economics PHD to write about GDP Forecast. Civil service might be different and indeed a better for Economics majors.

The real hot in demand skills (well paid) in private sectors (finance) are

1)quants- math major who are very good in mathematics.

2)Programmers- Engineers or computer science majors who can program.

Having a Economics degree make you a better candidate in business research consulting firms. But even that Economics background is a plus not a necessity.
 

Bertram

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Choose the university with good “superficial” brand.

In other words choose the “Harvard” equivalent in your country if there is such a strong brand.

Because since everything actually “doesn't matter”, only the brand lasts forever. You can be a joker who actually did engineering in Harvard instead of doing it in MIT. Who cares? Who knows about the details? Once you step out of the academia only the brand lasts. Harvard still smells better and no matter care about Harvard’s engineer department’s reputation vs MIT’s engineering department. Don’t worry about whose Economics department is better if you have a “harvard brand” in your country. And no matter where you study Economics you will be studying U.S. text book material so it makes little difference in the quality of education. You will be studying the great work of Keynes, Friedman, Ricardo, Lucas, Samuelson and “celeb pundit” like Paul Krugman. If you have passion in the subject like I do you will enjoy it no matter where you study it.

I did Economics degree. It is an academic subject. It is not a job friendly discipline like computing or engineering. Even if you do finance jobs it is just treated like a general degree like business. People with more quantitative background can actually open more doors in finance.
That is completely bad advice. It sounds like you chose your school based on overall prestige. Read my comment above this comment.
You don't know what you're talking about.
I went to the "Harvard equivalent" in my country, i.e. Harvard. Harvard was no great shakes and I left. I had an undergraduate degree and later got a masters from two overall 'B' schools which had such high-ranked programs that I can now hold senior research posts in top U.S. universities without a PhD and without the usual mandatory politics and obsequy (butt-sniffing).

I wish you the best as an economist. I hope your outlook brightens. It's a great field.
 
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Bertram

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The demand for Economists in private sector is very small. A large bank just need 3-5 Economics PHD to write about GDP Forecast. Civil service might be different and indeed a better for Economics majors.

The real hot in demand skills (well paid) in private sectors (finance) are

1)quants- math major who are very good in mathematics.

2)Programmers- Engineers or computer science majors who can program.

Having a Economics degree make you a better candidate in business research consulting firms. But even that Economics background is a plus not a necessity.
You sound so jaded.
 

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Yeah, the Bocconi University is the best one here in Italy. No doubt graduating from there would make your future quite bright in terms of corporate career.

A friend of mine graduated at Bocconi and now works for JP Morgan, so this statement is definitely true, specific corporations hire from specific universities, I agree with FriendlyVillain.

You can have fun in any size of city, as long as there are places where you can spend time together with other people, bigger city does not mean more fun, unless you are seeking...specific things like certain clubs in Milan :rofl:
 
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Should I completely forget about women and entertainment and opt for the university that will bring me a slightly better future?

Firstly, if you are going to be paying for education - education should so obviously and painfully come first.

If you were trying to get healthy, would you be asking whether or not you should pick the gym that sells the best junk food? It makes no sense.

Secondly, again assuming you will be actually paying for this education - pick the one you can realistically afford today (or can afford on an average income for your location). Not the one you can afford when you get some dream job promised to you by the university fairies.

Having the best education in the world with debt you can't service is ruinous.

Education is a two way trip. The first half is getting there (going to school) and the second half is getting back (paying off the tuition). Your trip isn't done until you can complete both and if you burn your car half way through the trip you'll find yourself stranded (but at least you'd be in very good company - most people do this!).

The biggest issue people have when it comes to education is being overly optimistic of their earning potential and job prospects upon graduation.

TL;DR: Pick the best education that you can afford assuming a pessimistic attitude towards your future job prospects.
 
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Bertram

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Should I completely forget about women and entertainment and opt for the university that will bring me a slightly better future?

What's your experience? Thank you guys.
Always, always make sure that your mind is located in the bodily organ known as the brain.

Don't sound like a young bozo. You have an outsider's superficial view, quite naturally, and you also sound lost in a young adolescent fantasy.

It isn't an all-male university, is it? Have you never heard of women attending university? Can you imagine how fun it's going to be to fall for a classmate, to have dorm parties with your peers who share your experience?

Look Tiger, you're going to need to safeguard your time and energy for your studies, otherwise you will feel deprived and conflicted. The source of joy and the number one priority here is getting your education. Trust me, it will be a source of pleasure.

You're not required to worship the clubs and chicas just because you happen to be a 19-year-old macho.

And I sincerely wish you the best with your college career.
 
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Kevin88660

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That is completely bad advice. It sounds like you chose your school based on overall prestige. Read my comment above this comment.
You don't know what you're talking about.
I went to the "Harvard" equivalent in my country, i.e. Harvard. Harvard was no great shakes and I abandoned ship. I had an undergraduate degree and later got a masters from two overall 'B' schools which had such high-ranked programs that I can now hold senior research posts in top U.S. universities without a PhD and without the usual mandatory politics and obsequy (butt-sniffing).

I wish you the best as an economist. I hope your outlook brightens. It's a great field.
Bertram I respect your experience but I totally disagree.

If your sole purpose is to have a better experience in learning the subject you love choosing the best faculty rather than the best school is the way to go.

But most people do not have such a clear direction at age 19. And they are not going to sacrifice everything just for a better academic experience.

If you are going to private sector after getting a degree, university experience is basically a four years “IQ test”. The point is to impress and demonstrate potential. You are expected to learn on the job. No one is going to expect you to have learnt any practical stuff in school. (With exception of professional degrees) But they will judge you on that “IQ test” and also the brand associated. I will explain later.

You go to the HR the Harvard on your CV is going to shine.

You quit your job and start your business you are a Harvard alumni launching the next idea to “change the world”.

When you are in your 20s you go to a bar and tell the girl you graduate from Harvard that is going to work well in your favor.

It is harder to explain that “my school is more obscure but my faculty is the best in the world.” It doesn't work that way.

While I understand perfectly on your reasoning why the school itself doesn't guarantee a good academic experience, my reasoning is that the academic experience is “overrated”.

Let us say that OP wants to go and do graduate study. What do they look at?

Firstly GPA. Secondly professors’ recommendation. All these are a measure of your relative performance against your peers. Simply work hard and you will do well. Choosing a branded school with less than perfect academic experience is not going to hurt.

Op quite clearly stated that he is skeptical towards university education and Economics degree. Then my advice is do not waste your time then and go get the best branding possible.

Speaking of Harvard it’s also one notch above the rest in a certain special way. There was an entrepreneur (Harvard Alumni) who said that in a podcast that once someone graduated from Harvard he was assumed to be smart and capable even if he scraped through his grades. If you graduate from other Ivy League schools you don’t get that Harvard privilege. People are going to look at your grades and make a more comprehensive judgement.

You credited your research posting with your graduate school experience. Good for you. But to me it is hard to believe that your degree in Harvard didn’t matter. Both you and I know that where someone studied his degree is far more valuable than where someone studied his graduate studies.

If OP wants to get the most out of his experience he has to play the games in which the rules are already written. That is my view.
 

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Bertram I respect your experience but I totally disagree.

If your sole purpose is to have a better experience in learning the subject you love choosing the best faculty rather than the best school is the way to go.

But most people do not have such a clear direction at age 19. And they are not going to sacrifice everything just for a better academic experience.

If you are going to private sector after getting a degree, university experience is basically a four years “IQ test”. The point is to impress and demonstrate potential. You are expected to learn on the job. No one is going to expect you to have learnt any practical stuff in school. (With exception of professional degrees) But they will judge you on that “IQ test” and also the brand associated. I will explain later.

You go to the HR the Harvard on your CV is going to shine.

You quit your job and start your business you are a Harvard alumni launching the next idea to “change the world”.

When you are in your 20s you go to a bar and tell the girl you graduate from Harvard that is going to work well in your favor.

It is harder to explain that “my school is more obscure but my faculty is the best in the world.” It doesn't work that way.

While I understand perfectly on your reasoning why the school itself doesn't guarantee a good academic experience, my reasoning is that the academic experience is “overrated”.

Let us say that OP wants to go and do graduate study. What do they look at?

Firstly GPA. Secondly professors’ recommendation. All these are a measure of your relative performance against your peers. Simply work hard and you will do well. Choosing a branded school with less than perfect academic experience is not going to hurt.

Op quite clearly stated that he is skeptical towards university education and Economics degree. Then my advice is do not waste your time then and go get the best branding possible.

Speaking of Harvard it’s also one notch above the rest in a certain special way. There was an entrepreneur (Harvard Alumni) who said that in a podcast that once someone graduated from Harvard he was assumed to be smart and capable even if he scraped through his grades. If you graduate from other Ivy League schools you don’t get that Harvard privilege. People are going to look at your grades and make a more comprehensive judgement.

You credited your research posting with your graduate school experience. Good for you. But to me it is hard to believe that your degree in Harvard didn’t matter. Both you and I know that where someone studied his degree is far more valuable than where someone studied his graduate studies.

If OP wants to get the most out of his experience he has to play the games in which the rules are already written. That is my view.
I respect your aim to make a difference and help others.

Your response is grounded in reasoning skills and not empirical reality. It's modeling, paradigmatic thinking. It's unrealistic.

You think the HR screener does the hiring? Gaaaaaa. The one who offers the job and oversees it really knows the difference between the employee who has good training and preparation (thanks to mentors and network too) v. the employee with a lot of chrome and no power.

In one study of life and career satisfaction after college, it turns out that ninety percent of the graduates from Harvard interviewed at age 27 stated they had not found jobs in their desired areas of work AND were unhappy.

And to choose a college based on the opportunity to admire professors firsthand? That is truly, truly off-base. This is such bad advice I wish I could laugh with you in person. You clearly mean good intentions. I do think you consider all these matters like a model designer, which is one of the skills of an economist. Occupational blindness, perhaps.

All the best.
 
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Kevin88660

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Your response is grounded in reasoning skills and not empirical reality. It's just modeling, just paradigmatic thinking. It's unrealistic.

You think the HR screener does the hiring? Gaaaaaa. The one who offers the job and oversees it really knows the difference between the employee who has good training and preparation (thanks to mentors and network too) v. the employee with a lot of chrome and no power.

In one study of life and career satisfaction after college, it turns out that ninety percent of the graduates from Harvard interviewed at age 27 stated they had not found jobs in their desired areas of work AND were unhappy.

And to choose a college based on the opportunity to admire professors firsthand? That is truly, truly off-base. This is such bad advice I wish I could laugh with you in person. You clearly mean good intentions. I do think you consider all these matters like a model designer, which is one of the skills of an economist. Occupational blindness, perhaps.

All the best.
My reasoning came from my personal observation. While they are not hard empirical data, they are not totally groundless.

I didn't advocate choosing university on “admiring professors”. I think someone else did.

My view is if you are not sure what you want, like most 19 year old, grab the brand name first. You will receive lifelong dividends. Whatever other benefits are either temporary or “uncertain”.
 

Bertram

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Bertram I respect your experience but I totally disagree.

If your sole purpose is to have a better experience in learning the subject you love choosing the best faculty rather than the best school is the way to go.

But most people do not have such a clear direction at age 19. And they are not going to sacrifice everything just for a better academic experience.

If you are going to private sector after getting a degree, university experience is basically a four years “IQ test”. The point is to impress and demonstrate potential. You are expected to learn on the job. No one is going to expect you to have learnt any practical stuff in school. (With exception of professional degrees) But they will judge you on that “IQ test” and also the brand associated. I will explain later.

You go to the HR the Harvard on your CV is going to shine.

You quit your job and start your business you are a Harvard alumni launching the next idea to “change the world”.

When you are in your 20s you go to a bar and tell the girl you graduate from Harvard that is going to work well in your favor.

It is harder to explain that “my school is more obscure but my faculty is the best in the world.” It doesn't work that way.

While I understand perfectly on your reasoning why the school itself doesn't guarantee a good academic experience, my reasoning is that the academic experience is “overrated”.

Let us say that OP wants to go and do graduate study. What do they look at?

Firstly GPA. Secondly professors’ recommendation. All these are a measure of your relative performance against your peers. Simply work hard and you will do well. Choosing a branded school with less than perfect academic experience is not going to hurt.

Op quite clearly stated that he is skeptical towards university education and Economics degree. Then my advice is do not waste your time then and go get the best branding possible.

Speaking of Harvard it’s also one notch above the rest in a certain special way. There was an entrepreneur (Harvard Alumni) who said that in a podcast that once someone graduated from Harvard he was assumed to be smart and capable even if he scraped through his grades. If you graduate from other Ivy League schools you don’t get that Harvard privilege. People are going to look at your grades and make a more comprehensive judgement.

You credited your research posting with your graduate school experience. Good for you. But to me it is hard to believe that your degree in Harvard didn’t matter. Both you and I know that where someone studied his degree is far more valuable than where someone studied his graduate studies.

If OP wants to get the most out of his experience he has to play the games in which the rules are already written. That is my view.

I didn't take a degree from Harvard. I became an entrepreneur and moved abroad.

The prestige of the Harvard degree is definitely a thing of the past, except in very irrelevant contexts such as bragging to a neighbor about your family, getting entry-level jobs, or trying to make a superficial impression on a date. It matters most of all to people who will never come within 1000 miles of the campus.

It's one thing to impress a person with the signs of power (wealth and education), and quite another matter to demonstrate who you really are, your values. The Harvard reference is just like knowing a magic card trick in those circumstances, just like anytime one chooses to flash chrome rather than get real. It works for entry-level jobs, but otherwise it is equal to a good state university degree. Or no college degree. College-free workers outpace the graduates massively all the time. In this forum the sparks of genius keep on coming from the guys who would spit on a college application.

That being said, I don't mean to discredit the degree here, nor the effort and time that goes into earning it.

Being the first generation to get a college degree is a stronger indicator of someone's MAP - motivation, ability, and power.
When hiring staff I look for MAP and the track record of results more than prestigious credentials.

The need for economists is on the rise in a range of research sectors.

Not to derail the thread, I'm curious about where are you in your career plan. Have you considered the energy industries? Water management? Agriculture? Labor? Human services? In the U.S. the economics degree is, as I've joked here, a hunting license to pick up careers in a variety of job sectors.
 
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fastlanedan

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On ratings and league tables. Where I'm from (UK) they are rife. Probably because parents are so used to looking at them to select a high school (The middle classes move house near the high rated schools so their kids get a place).

The whole "This uni is #5, that one is number #7" needs to be analysed on a deeper level. You have to look behind the ratings. they give credit to things that have no bearing on the quality of undergrad teaching such as the grades entrants had, or the percentage of high GPA degrees handed out. You also have to look at how each university performs by subject. They might be #1 overall but #6 in the subject you want to study.

I personally think it's all about the ability of the student going there. If you are intelligent and have drive and ambition you will do well regardless of whether you went to the #1 university or the #100th university.

Is there any data available on where graduates at the 2 universities end up career/salary wise?
 
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Kevin88660

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I didn't take a degree from Harvard. I became an entrepreneur and moved abroad.

The prestige of the Harvard degree is definitely a thing of the past, except in very irrelevant contexts such as bragging to a neighbor about your family, getting entry-level jobs, or trying to make a superficial impression on a date. It matters most of all to people who will never come within 1000 miles of the campus.

It's one thing to impress a person with the signs of power (wealth and education), and quite another matter to demonstrate who you really are, your values. The Harvard reference is just like knowing a magic card trick in those circumstances, just like anytime one chooses to flash chrome rather than get real. It works for entry-level jobs, but otherwise it is equal to a good state university degree. Or no college degree. College-free workers outpace the graduates massively all the time. In this forum the sparks of genius keep on coming from the guys who would spit on a college application.

That being said, I don't mean to discredit the degree here, nor the effort and time that goes into earning it.

Being the first generation to get a college degree is a stronger indicator of someone's MAP - motivation, ability, and power.
When hiring staff I look for MAP and the track record of results more than prestigious credentials.

The need for economists is on the rise in a range of research sectors.

Not to derail the thread, I'm curious about where are you in your career plan. Have you considered the energy industries? Water management? Agriculture? Labor? Human services? In the U.S. the economics degree is, as I've joked here, a hunting license to pick up careers in a variety of job sectors.
I am in singapore.

We don’t really call someone an Economist unless he or she is really GDP forecasting or doing Economics analysis. Usually that will require a postgrad education. If you work for the government in ministry of Trade (Bureau of labor equivalent) or Monetary Authority of Singapore (The Fed equivalent) doing Economics forecasting that will be a good fit. But in reality they only need very few people doing that kind of forecasting. Most people with a Economics degree who actually work there mainly do policies, project planning or industry regulation work. In these roles you could get in with any degree. A background in Economics, Business or Accounting will be a plus but not a necessity.

Economics background will be a plus if you are planning to work for the government right after of school. My area of interest was finance when I was out of school. Economics background is less useful compared to degrees with more professional skills. If you want to work in a hedge fund they look for mathematical background or programming skills. Most entry level research roles prefer an accounting background for bottom up investment analysis -researching on the investment fundamental of companies. Most people in the industry end up in roles such as sales, operation and compliance. There is no specific degree requirement for these roles.
 

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