 what's happening guys today we're going to be talking about whether the college the university that you go to actually matters. Now this is a question that I have touched on in other videos before but I haven't really gone into it deeply in detail like I'm going to in this video and I was inspired to make this video after I read a fantastic article by Investopedia. I will be referencing that article in this video I'm going to talk about some of their findings and I'm also going to talk about my own experiences. Now before getting into this first of all I'm going to set a goal of 1000 likes on this video so gently tap that like button 1000 times also if you haven't already hit the subscribe button ring the notification bell about 20% of people that watch my channel are subscribed it's going up a little bit but yeah there's a lot of people who just watch it but they don't hit the subscribe button come on guys just do it do it but yeah before we get into this I just want to make it very clear that I'm not talking about schools that are clearly kind of like scammy type schools like some of the for-profit online colleges you know some of these colleges have actually been in the news because they clearly misrepresented the value that their degree gave people some of them had to actually pay back all of the people who attended the schools okay so I'm not referring to those schools and I've talked about that in other videos I have I think one or two videos specifically dedicated to avoiding those types of schools on the channel so go ahead and check those out what I'm basically going to be talking about in this video is whether going to maybe for your first two years going to a community college and then transferring to a normal state school not like an especially prestigious state school just an all-around good state school versus going to a very prestigious like liberal arts or ivy league school and then I'm going to talk about the pros and cons to both of those options and when one is going to be better than the other so in the article investopedia basically compared a public school which would basically be like a normal state school private school and then an ivy league school and in case you aren't familiar basically public schools are generally going to be cheaper and private schools and ivy league schools are generally going to be much more expensive because they can charge more so in the article they basically showed that over four years the four-year total cost would be for a public school 120,855 dollars for a private school 247,295 dollars and for an ivy league school slightly more expensive 254,257 dollars and then they compared the hypothetical starting salary at each of these individual types of schools so people who are starting school now would presumably graduate in 2024 and they had the starting salary at about 92,000 for public schools 96,000 for private schools and 87,000 for ivy leagues so basically what that means is you will make more on average after graduating from a public school than you do from an ivy league however you will make slightly more than average after graduating from a private school than you do after graduating from a public one and then what they did is they projected the salary out about 10 years assuming that it grows about 6% per year which is a little bit ambitious in my opinion but that's totally fine because they did the same to all of them and then they showed the price to earnings ratio of each type of degree so how much did the public school degree cost versus how much you're going to earn this is basically an indicator of what the ROI is at least over 10 years and it showed very clearly that public school had a 0.86 which is by far the best 1.69 for private school was the second best and the worst by far was the ivy league school at 1.91 and then they basically went into a little bit deeper analysis they talked about net present value and again the public school came out on top so clearly when we're talking about you know averages here the public school education is going to be the best investment however if you look at individual circumstances there are going to be some exceptions and that is what i'm going to be talking about in the rest of the video and by the way the investopedia article that's not the only article i've read it was just the best one there's lots of different studies out there and articles that have basically shown the same thing now the investopedia article basically was using more current data but there are some studies out there that showed that in the past going to an ivy league school was a little bit better than going to a public school in terms of how much you earn after graduating and some theories for why this is the reason the investopedia articles numbers were off is a lot of people might go to an ivy league school and then they just never get a job right because they're already rich in many cases and so they don't need to earn any money but even if you take the best of these numbers when it comes to ivy league schools the ones that show that ivy leagues make more than public universities it still doesn't make up the difference in cost so if you are going to take out student loans for this it's going to be ridiculously expensive and it's not going to be a good return on investment on average so one example of where it might be worth it is if you're going to a school that's really well known for your specific major so for instance i'm pharmacist and in the pharmacy world two of the top schools are going to be the university of san francisco and also florida right uf now it's kind of weird because you know florida really isn't known for a lot of things but their pharmacy school just happens to be fantastic and same for the university of san francisco so if you were to go to those schools it might be easier for you to get into a prestigious residency or maybe a fellowship or get hired by a company that it would be a lot harder for other people to get hired by so in that specific circumstance it might be worth it on the same line of thinking there are some colleges that are basically pipeline schools to different companies so for whatever reason the company either has a partnership you know literally or kind of like indirectly they have a partnership with that university and they're going to be going to that university's career fairs they're going to know people at the university sometimes the faculty so the professors for instance sometimes the people who are in the career center and so you are going to have a much better chance of getting in contact with them and getting hired by them after graduating and this is especially prevalent if you have schools that are in specific areas so obvious examples of this would be let's say you go to stanford there's a very good chance if you go to stanford for computer science you're going to get hired by a company in the silicon valley area because it's very close same thing with university of washington though it's in seattle a lot of big companies up in seattle so there's a very good chance you might get hired by one of them just because you went to the university of washington another example of where it might be worth it to go to a specific school and in this example specifically in ivy league school would be let's say you want to get into a very prestigious very difficult to get into job on wall street like you want to work at goldman sacks or something along those lines it might help you to go to a school like princeton for instance and study finance there are a lot of princeton graduates princeton alumni who work on wall street and they like to help their own people out so going to a school because they have a very good alumni network that might help you out in very specific situations could also be a good thing but let's be realistic here i want to talk about the extra work that it takes to get into an ivy league school so in those studies that i referenced earlier where it showed that people who go to ivy league schools do earn a little bit more than people who go to public schools one thing that the study didn't really take into account is the fact that people who tend to go to ivy league schools probably are also people who attend to be overachievers and so there's probably a good chance that those same people would make just as much money if they went to a public school than if they went to a private school and it is ridiculously hard to get into an ivy league school you have to have ridiculously good grades you have to score very high on your acts and your sat's you have to write fantastic essays you have to apply probably to basically all of them in order to get into one of them at least if you're like a good student but not an amazing student and even then there's a very good chance you won't end up getting into an ivy league school right so basically the summary here is for most people on average the best route for you to do is to go to a state school right just go to a public school it's a lot cheaper education is pretty much just as good you're going to get paid around the same amount and it's a lot easier for you to get into in very rare cases and very rare circumstances it's worth it for you to go to maybe like a fancy private school or an ivy league school you know something like you want to start a tech company in silicon valley maybe it would be worth it for you to go to stanford just because that does carry a little bit of clout with it and you're also going to have an alumni network that's right there in your backyard but the vast majority of the time for most people it really doesn't matter and the only difference it's going to make is to your wallet thanks for watching the video hope you enjoyed it check out my other videos right here i made them just for you go ahead gently tap that like button hit the subscribe button ring the notification bell and comment down below any thoughts comments criticisms etc that you have on the video