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There's no income level that could convince me to put my kids in private school lol. I'm not concerned with them being contact with the ~poors~ and being ~corrupted~
It'll give them some much needed perspective on the world. I don't want them bubble wrapped out of reality
This. As an international who have completed public primary & middle school in China and came to Silicon Valley for high school, I have seen too many private school kids taking way to long to realize this world is not filled with SWEs making 500k per year lol
As a public school kid who now brings in 475K household income..you could never convince me to spend 50K a year on private school for my kids. My Big 10 college education was less than that annually 😂
Fair enough 😅
I don't care if I have to live off cheeseburgers, my kids are not going to public school. That's child abuse.
I suspect the people who send their kids to public school that are active in their child’s up brining (setting a good standard, instilling discipline) will probably fare better in either environment…that being said private school absolutely is a feeder to top institutions, and you are more likely to get a consensus mindset that focuses on academics at a private school…it’s probably less about the actual teachers and more about the rest of the classmates that makes private schools strong
Fwiw, if I’m living in NYC, I’m sending my kid to a private school…unless they test into Stuyvesant. If I live in westchester county in a town with good schools (Scarsdale, bronxville, etc) I’m fine with public school.
It’s not about money for us. We clear $1m and our kids attend an average public school. We believe they will be more in touch with the world, value diversity and still have the same academic development.
BDO unequivocally wrong. In cities, this is especially wrong.
My brother in Christ- How is anybody supposed to answer this question for you without knowing your expenses. You work for Mckinsey- surely you can do some napkin math to back into what kind of income you would need.
What point are you trying to make? Private school Tuitions are expensive and can be invested elsewhere? Then what?
I have 2 in private, mine is $14k/yr per kid. Make 300k.
For me it’s priorities. We drive older cars, live in a smaller house and invest in our kids in this way.
Do you live in an area with avg at best public schools? I’d just put them in a good public school tbh
Not always.
And Private schools give scholarships. Those with large endowments give a lot.
My private school is much more racially, ethnically and economically diverse than my local public school.
For us it’d have to be once we’re above 800k HH annual income to consider private school for two kids.
You have kids now?
Depends how many kids…
We live in NYC with one newborn kid and we’re discussing if we should have a second kid at some point. We are currently at $500k house hold income in Manhattan, and knew we’d have to leave Manhattan if we had a second (unless I make MD), since we could only afford private school for one, and the public schools are shit here. This might actually be one of the main reasons we don’t have second kid, since we both hate the suburbs.
I think $350-400k in a HCOL area is the minimum for private school for one kid. $600-700k probably the minimum for two (realizing you also need to buy a bigger place and things like that).
EYP 3 - this is a ridiculous statement. If single kid grows up to be weird, what about home school kid, kids who have their parents divorced, kid who has an international background? I have so many single kids friends and they are just completely normal
I went to Horacemann and will add - private school did NOT add an advantage in getting into these colleges the way that people envision private schools’ admissions officers having a relationship with the ivys - the historical partnerships no longer exist. It is true that a higher % gets into ivys from PS but that’s imo largely because of the parents being powerful and having strong legacy history’s
For example my friend at Exeter said that very few students got into MIT and much lower #s for Harvard in recent years because of this shift away
Go to private if you want your students to be exposed to more resources sure but keep in mind this is still student dependent - a shit student will not take advantage of resources the way they should compared to a proactive student even at a public school
Yeah the days of feeder schools is long gone and there’s really no point. Maybe if you are loaded and want to network with other partners in the top 1% it could have value for you but it’s not likely going to get your kids into top colleges.
The real flex here is not being able to afford private school, but being able to afford living in a place where the public schools are legit
I'm also an advocate for public school, so long as my kids are doing well. If not, I think I'd find a way to make private school work at any income level.
The answer to you question is really about adding $10k/month of expenses (w/o financial aid) to your plan. Model that and see how it impacts your savings and retirement plans. Maybe you make different decisions about what college or who pays as a result, vacations, etc.
Leave a HCOL city and move to a suburb with above average public schools. Send them there for the same education they’ll get from the private school.
And the answer is, fill out the financial aid forms and the school will tell you exactly.
It seems like you believe private is better for your kids. How much would it take for you not to give your kids what’s best?
They come first. Figure out how much you’ll have to kick in and work around it. They didn’t ask to be born.
Best option is to bring them up in private school and then send them off to a decent public highschool. They'll be top performers, top of their class most likely, and get exposure to the real world without having to be brought up through the public school system.
That's my plan at least. Raise them how you want and instill the values you want without public school teachers forcing stuff down their throat. Teach them how to stand up for themselves and then send them off. They'll come out much stronger than having been brought up in the public school system or staying in private school their whole education. It worked for me, and I am certainly thankful for it.
What is that stuff public teacher will push? I don't have kids yet, so consider it an ignorant/innocent question
$300k minimum, ideally $500k+
We have two kids and tuition + sports + others cost $120k a year.
Mck3
Your experience is yours so I won't disagree.
Here are a few FACTS from our direct experience with Public and Private school
#1 Student to teacher ratio in our district is 12:1 vs 8:1 at private school. More resources = more attention = more opportunities
#2 During Covid, the public schools were full remote or hybrid vs private were FT in person
#3 5-7% of public school grads attend Ivies vs. 20-25 % at private
Do you disagree with any one of the above? If so, explain and state your reasons please
I went to Horacemann and will add - private school did NOT add an advantage in getting into these colleges the way that people envision private schools’ admissions officers having a relationship with the ivys - the historical partnerships no longer exist. It is true that a higher % gets into ivys from PS but that’s imo largely because of the parents being powerful and having strong legacy history’s
For example my friend at Exeter said that very few students got into MIT and much lower #s for Harvard in recent years because of this shift away
We live in a capitalist country.
If public schools were truly producing the same results as private schools. All private schools would be FREE due to DEMAND AND SUPPLY!
The fact is, during Covid, the number of applications to private schools went up 30% as it was more desirable to have in person than remote / hybrid learning.
https://www.cnbc.com/2020/11/08/coronavirus-why-families-are-jumping-to-private-schools.html
People also desired tulips in the 17th century.
Some food for thought:
https://news.virginia.edu/content/new-study-finds-low-income-students-do-not-benefit-private-schooling
For those criticizing OP’s math or inexplicable need for knowledge only OP would know- OP was not raised in America. For those who were, you may not know that America is practically unique in making the price of education so astronomical that generational debt is sometimes required to attain what some would consider superior qualifications. It’s just not the case in Western Europe, Japan, South-East Asia, practically any developed country you can think of. So what OP is really asking is, how nuts are all of you, really?
In our case, we have household income in high $200s and send our two kids to a private school. In our suburb a good private school we picked only costs ~$10k per student though.
We have decent public schools (highly rated anyway) but dislike how political they have gotten, and class sizes have also gotten quite large.
@D3 no, suburb of a Texas city
OP you were asking about “hidden costs” above. This may be a surprise to you — as it was to me — but we pay about $15k for private pre-K, and the school continually is hitting us (and grandparents) for donations. We probably drop $3-4k a year more total, but at the fundraiser galas you have people dropping $10k+ on a single item at the auctions.