NYU v NU with 90k

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NYU or NU with 90k

NYU
17
30%
NU with 90k
40
70%
 
Total votes: 57

jeninamillion
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NYU v NU with 90k

Postby jeninamillion » Thu Aug 02, 2012 3:29 pm

I got into NYU off of the wait list a couple weeks ago. When I emailed NU telling them that I want to withdraw, Johann offered 90k. Now I'm in a bind because I loved Chicago and NU in general when I visited but I'm not sure if 90k is enough to sway me from my dream school. I'm lucky enough that my parents have agreed to foot the bill at either school but I would feel bad about turning down the money just because NYU is my dream school, especially if the opportunities at both schools are essentially the same.

Also, I just submitted a final intent to enroll at NYU a couple days before the offer email. Is this completely binding?

Mal Reynolds
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Re: NYU v NU with 90k

Postby Mal Reynolds » Thu Aug 02, 2012 3:31 pm

If you're lucky enough to have your parents foot the bill, go to NYU. If you really feel guilty enough, take out maybe 80-90K in loans which would offset the loss of money at NU. That would be super easy to pay off from the outcomes likely at NYU.

jeninamillion
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Re: NYU v NU with 90k

Postby jeninamillion » Thu Aug 02, 2012 3:35 pm

Mal Reynolds wrote:If you're lucky enough to have your parents foot the bill, go to NYU. If you really feel guilty enough, take out maybe 80-90K in loans which would offset the loss of money at NU. That would be super easy to pay off from the outcomes likely at NYU.


Are the opportunities for big law different enough to merit giving up 90k? I liked Chicago and NU better when I visited but I wanted to go to NYU since I was 16 for undergrad and now law school...

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Samara
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Re: NYU v NU with 90k

Postby Samara » Thu Aug 02, 2012 3:38 pm

What are your employment goals? Where do you want to practice? This can make a big difference.

jeninamillion
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Re: NYU v NU with 90k

Postby jeninamillion » Thu Aug 02, 2012 3:39 pm

Samara wrote:What are your employment goals? Where do you want to practice? This can make a big difference.


I want to get into big law but nothing too specific. I wouldn't mind working in Chicago or NYC for a couple of years but in the long term, I would ideally like to come back to the bay area

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smaug_
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Re: NYU v NU with 90k

Postby smaug_ » Thu Aug 02, 2012 3:41 pm

jeninamillion wrote:
Mal Reynolds wrote:If you're lucky enough to have your parents foot the bill, go to NYU. If you really feel guilty enough, take out maybe 80-90K in loans which would offset the loss of money at NU. That would be super easy to pay off from the outcomes likely at NYU.


Are the opportunities for big law different enough to merit giving up 90k? I liked Chicago and NU better when I visited but I wanted to go to NYU since I was 16 for undergrad and now law school...


Probably not. If your parents are footing the bill, I'd talk to them about it openly. I'm sure they'd appreciate your effort to save them money, but I'm also sure they'd understand your desire.

Also, Mal's idea of offering to foot the difference (if that's what you want) is a good one and should be considered thoughtfully.

FlanSolo
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Re: NYU v NU with 90k

Postby FlanSolo » Thu Aug 02, 2012 3:41 pm

jeninamillion wrote:
Mal Reynolds wrote:If you're lucky enough to have your parents foot the bill, go to NYU. If you really feel guilty enough, take out maybe 80-90K in loans which would offset the loss of money at NU. That would be super easy to pay off from the outcomes likely at NYU.


Are the opportunities for big law different enough to merit giving up 90k? I liked Chicago and NU better when I visited but I wanted to go to NYU since I was 16 for undergrad and now law school...


I think placement percentage is roughly similar. If you liked NU more than NYU when you visited, why would you go to NYU because you wanted to go there when you in high school?

This is going to sound condescending, and I may eat crow, but are you K-JD? $90K + interest is a shit load of money! NYU is a great school, but the career prospects aren't markedly better, and if you liked NU more anyway, why not just take the money? Now, if your parents are comfortable enough that $90K+ interest doesn't really matter, and you really want to go to your dream school, then do it, I guess.

jeninamillion
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Re: NYU v NU with 90k

Postby jeninamillion » Thu Aug 02, 2012 3:43 pm

I've already taked it over with them and they're supportive regardless of the decision. Rationally, I think NU is the better option because I loved everything about the school I can't shake off the feeling that I'll be missing out on career opportunities or something at NYU.

Mal Reynolds
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Re: NYU v NU with 90k

Postby Mal Reynolds » Thu Aug 02, 2012 3:44 pm

jeninamillion wrote:
Mal Reynolds wrote:If you're lucky enough to have your parents foot the bill, go to NYU. If you really feel guilty enough, take out maybe 80-90K in loans which would offset the loss of money at NU. That would be super easy to pay off from the outcomes likely at NYU.


Are the opportunities for big law different enough to merit giving up 90k? I liked Chicago and NU better when I visited but I wanted to go to NYU since I was 16 for undergrad and now law school...


I don't think you can ask that question like most people-at least in the same way. If your parents are paying for a significant portion then I absolutely think NYU is better. Even if you have to take out some loans, it's so much lower than the average student. The low risk, in addition to it being your dream school would seal the deal for me.

Mal Reynolds
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Re: NYU v NU with 90k

Postby Mal Reynolds » Thu Aug 02, 2012 3:46 pm

If you were taking out 250k minus the 90k in scholarships, then it would definitely be worth going to NU. That's not the case here. NYU does have better employment statistics. Hopefully Rayiner sees this because he could articulate the differences in schools better than me. There is a difference and I think it's worth taking in your case.

dsc1943
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Re: NYU v NU with 90k

Postby dsc1943 » Thu Aug 02, 2012 3:55 pm

I was in almost the same situation, its a good problem to have: I was planning on NU but got off the waitlist in mid July with no $ at NYU then NU offered me 60k.

While I also liked Chicago and NU I chose NYU b/c I'm originally from the NY area and have connections here. It really came down to personal preference for me without the NY connection I might have chosen NU with some $. You have 30k more than what NU offered me though seems like there's not a wrong decision here.

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Samara
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Re: NYU v NU with 90k

Postby Samara » Thu Aug 02, 2012 3:58 pm

NYU has better placement, but not by a huge amount. If you prefer the Chicago market and like NU better, I think you can justify going there since you don't have debt. When taking on massive debt, you have to prioritize placement, but with no debt, you can afford some wiggle room in terms of fit, etc.

Probably the biggest difference between the two is where they place. NU does very well in Chicago and NYU does very well in NYC. If you have a preference for one market over the other, pick that one. (Also, NU has slightly more alums in the west than NYU, ~15% v. ~10%)

NYU - 68% in NY/NJ/PA, 1% in IL/IN/MI/OH/WI
NU - 46% in Midwest, 29% in Northeast

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moneybagsphd
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Re: NYU v NU with 90k

Postby moneybagsphd » Thu Aug 02, 2012 4:08 pm

Great, another "it's my dream school" post... I would take NU's offer back to NYU, ready to walk away if they refuse to negotiate. NYU might not budge (it's likely that at this stage they're just trying to fill sticker seats), but then NYU isn't worth 90K more than NU. That's what I would do. I also like Mal's suggestion that you take out some loans to help cover the difference. How much debt would you be willing to take on to go to NYU?

09042014
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Re: NYU v NU with 90k

Postby 09042014 » Thu Aug 02, 2012 4:13 pm

How many ways do you have to split your inheritance and how rich are your folks?

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rayiner
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Re: NYU v NU with 90k

Postby rayiner » Thu Aug 02, 2012 4:28 pm

NYU will make it easier to get into a V10 firm. It feeds into S&C/DPW/STB/etc, which are all V10. NU feeds into K&E, Sidley, Latham, Skadden, Mayer, and Winston, which aren't all V10. If V10 matters to you, and you're willing to work in NYC, then NYU will give you an edge.

In terms of safety net at the bottom, I'm not sure NYU as an edge. If you look at the ABA data, and sum up graduates from 2011 in school-funded positions,[1] small firms (< 50 attorneys), in state clerkships, or people who were straight-up unemployed, the two schools come out about the same.

So, I don't know why you'd pay more to go to NYU when you liked NU better. Ten years down the line, you might feel a little pang of regret for not having that Harvard diploma on your wall. NYU isn't Harvard. It doesn't buy you an edge for the top clerkships, selective boutiques, etc, the way HYS does.

[1] Accounting for the fact that ~1/4 of NYU's school-funded jobs are probably legitimate merit fellowships because they were extended to the C/O 2008 before the recession.

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TrialLawyer16
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Re: NYU v NU with 90k

Postby TrialLawyer16 » Thu Aug 02, 2012 4:40 pm

rayiner wrote:NYU will make it easier to get into a V10 firm. It feeds into S&C/DPW/STB/etc, which are all V10. NU feeds into K&E, Sidley, Latham, Skadden, Mayer, and Winston, which aren't all V10. If V10 matters to you, and you're willing to work in NYC, then NYU will give you an edge.

In terms of safety net at the bottom, I'm not sure NYU as an edge. If you look at the ABA data, and sum up graduates from 2011 in school-funded positions,[1] small firms (< 50 attorneys), in state clerkships, or people who were straight-up unemployed, the two schools come out about the same.

So, I don't know why you'd pay more to go to NYU when you liked NU better. Ten years down the line, you might feel a little pang of regret for not having that Harvard diploma on your wall. NYU isn't Harvard. It doesn't buy you an edge for the top clerkships, selective boutiques, etc, the way HYS does.

[1] Accounting for the fact that ~1/4 of NYU's school-funded jobs are probably legitimate merit fellowships because they were extended to the C/O 2008 before the recession.

+1. Damn this dude's posts are always solid. It's appreciated

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2014
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Re: NYU v NU with 90k

Postby 2014 » Thu Aug 02, 2012 4:42 pm

If your parents are okay paying sticker for NYU is there any way to convince them to provide you with all or part of the 90k you would save them at NU for a retirement account or an Index Fund to prepare you for a down payment on a house at some point?

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Law Sauce
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Re: NYU v NU with 90k

Postby Law Sauce » Thu Aug 02, 2012 4:44 pm

Depends on your folks. If their net worth is a couple million, I would go to NYU. If money is tight, then NU is probably the better value. If you were paying, I'd say NU.

CanadianWolf
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Re: NYU v NU with 90k

Postby CanadianWolf » Thu Aug 02, 2012 5:49 pm

E-mail NU again & hope for another $90,000. :D

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rickgrimes69
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Re: NYU v NU with 90k

Postby rickgrimes69 » Thu Aug 02, 2012 6:32 pm

NU and I'd say that even if COA was equal, simply because you liked it better and don't have dreams of V10 prestige. If you just want Biglaw and don't particularly care where, go where you liked more and where you want to work - in this case, that sounds like Chicago.

twiffy
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Re: NYU v NU with 90k

Postby twiffy » Thu Aug 02, 2012 6:46 pm

--LinkRemoved--

correct me if i'm wrong, but this chart seems to suggest that NU has better placement in large firms. does "large firm" = big law?

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Lawquacious
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Re: NYU v NU with 90k

Postby Lawquacious » Thu Aug 02, 2012 7:17 pm

Mal Reynolds wrote:
jeninamillion wrote:
Mal Reynolds wrote:If you're lucky enough to have your parents foot the bill, go to NYU. If you really feel guilty enough, take out maybe 80-90K in loans which would offset the loss of money at NU. That would be super easy to pay off from the outcomes likely at NYU.


Are the opportunities for big law different enough to merit giving up 90k? I liked Chicago and NU better when I visited but I wanted to go to NYU since I was 16 for undergrad and now law school...


I don't think you can ask that question like most people-at least in the same way. If your parents are paying for a significant portion then I absolutely think NYU is better. Even if you have to take out some loans, it's so much lower than the average student. The low risk, in addition to it being your dream school would seal the deal for me.



Nah, NU is better in this scenario. NU has strong placement into biglaw, and the only reason OP should go to NYU given the large scholly at NU is if he/she is set on NYC biglaw or has another compelling reason to be in NYC for the next three years, which is not the case. Even if that were the case NU gives a good shot at NYC. And just because parents are offering doesn't mean it's a good idea to take 100k from them.

Just my opinion though, and obviously OP you should go where you want and do what you think is best for you personally.

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Icculus
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Re: NYU v NU with 90k

Postby Icculus » Thu Aug 02, 2012 7:32 pm

TrialLawyer16 wrote:
rayiner wrote:NYU will make it easier to get into a V10 firm. It feeds into S&C/DPW/STB/etc, which are all V10. NU feeds into K&E, Sidley, Latham, Skadden, Mayer, and Winston, which aren't all V10. If V10 matters to you, and you're willing to work in NYC, then NYU will give you an edge.

In terms of safety net at the bottom, I'm not sure NYU as an edge. If you look at the ABA data, and sum up graduates from 2011 in school-funded positions,[1] small firms (< 50 attorneys), in state clerkships, or people who were straight-up unemployed, the two schools come out about the same.

So, I don't know why you'd pay more to go to NYU when you liked NU better. Ten years down the line, you might feel a little pang of regret for not having that Harvard diploma on your wall. NYU isn't Harvard. It doesn't buy you an edge for the top clerkships, selective boutiques, etc, the way HYS does.

[1] Accounting for the fact that ~1/4 of NYU's school-funded jobs are probably legitimate merit fellowships because they were extended to the C/O 2008 before the recession.

+1. Damn this dude's posts are always solid. It's appreciated


Rayiner is a huge asset on this board.

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2014
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Re: NYU v NU with 90k

Postby 2014 » Thu Aug 02, 2012 8:52 pm

twiffy wrote:http://www.lawschooltransparency.com/clearinghouse/?show=compare&sub=jobs

correct me if i'm wrong, but this chart seems to suggest that NU has better placement in large firms. does "large firm" = big law?

The most recent year of LST was a rough year across the board and some have argued that NU weathered it better because it has individuals who on average have more and better W/E and are thus more employable by risk averse law firms when shit gets ugly. Similarly NYU has a certain percent that self select into PI stuff (higher than NU), but its a giant unknown how many of those tried OCI and how many had PI blinders on. NYU is still probably marginally safer as it puts a ton of students into the firms with the largest class sizes, but even at equal cost I see the argument for NU.

chasgoose
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Re: NYU v NU with 90k

Postby chasgoose » Thu Aug 02, 2012 10:55 pm

2014 wrote:
twiffy wrote:http://www.lawschooltransparency.com/clearinghouse/?show=compare&sub=jobs

correct me if i'm wrong, but this chart seems to suggest that NU has better placement in large firms. does "large firm" = big law?

The most recent year of LST was a rough year across the board and some have argued that NU weathered it better because it has individuals who on average have more and better W/E and are thus more employable by risk averse law firms when shit gets ugly. Similarly NYU has a certain percent that self select into PI stuff (higher than NU), but its a giant unknown how many of those tried OCI and how many had PI blinders on. NYU is still probably marginally safer as it puts a ton of students into the firms with the largest class sizes, but even at equal cost I see the argument for NU.


About 80% of NYU does EIW...




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