$5 Amazon gift cards are manna from heaven for a graduate student like me looking for textbook money. Granted, these gift cards do not come free since you have to spend a certain amount of time doing searches on sites. The good news is that how much time you spend is completely under your control.
(Note: Unfortunately, Bing Rewards and Swagbucks Search aren't for Philippine residents. You could still play Swagbucks games though! But keep this in mind if you're gonna study in the US.)
With all the mini-breaks that I take from work and studying, I go to Bing and Swagbucks for a few minutes each day to search and play games. I just "discovered" Bing Rewards and Swagbucks a few weeks back, and I've earned $15 so far! (Which, granted, isn't a lot at the moment, but think of how much I can earn in a year!)
I really like Bing Rewards because it's simple to earn points, and there's a set limit each day -- meaning that I don't have to spend as much time as necessary to earn the limit. I can earn the max allowed points in less than 5 minutes, since I can type literally anything into Bing's search bar and have it count towards the limit. Bing has fewer partner merchants, but... one of them is Swagbucks!
Once you get into Bing Rewards' Gold Status level (which is really easy to get into), you get the rewards at a discount. You can choose between getting an Amazon Gift Card at once for 475 points, or go through the Swagbucks route for the same 475 points. The latter means that you get 500 Swagbucks, which you can use at Swagbucks to get an Amazon Gift Card for 450 points, with 50 points left over.
I haven't tried the Swagbucks route yet, since I was happy with how fast Bing gave me the Amazon codes, and was unsure with how fast I could get the Swagbucks one. I'll be doing it next time though, since the turnaround of Swagbucks was bearable (i.e. not even a week).
There are so many ways you could earn Swagbucks that the danger is spending too much time on that site. But, if you find yourself going to do mindless surfing over the next couple of hours, then it might still be worth a try.
With Amazon's Buy-Back program (where I can sell my old textbooks), and these gift card programs, I can earn enough to fund the next set of books. Or a book or two, anyhow. Hey, every little bit helps.
Friday, December 20, 2013
Sunday, December 8, 2013
Former child actress in Hult
Just found it interesting.
Meet former child wonder Serena Dalrymple
Hult's Master of International Business can be an alternative for those coming out of undergrad, with no or little previous work experience.
Meet former child wonder Serena Dalrymple
Hult's Master of International Business can be an alternative for those coming out of undergrad, with no or little previous work experience.
Saturday, November 23, 2013
Inspiration for Harvard MBA Aspirants
Reading across websites and came across this article. Here's a tip:
Get on LinkedIn, connect with these people and message them from there.
Who knows, they might actually respond. People based in the US use LinkedIn more, and use it better. But, please, no stalker-ish messages or even desperate pleas. Be professional.
Even if they don't respond, then you could also just look at their profiles and measure your chances. Though the author below encourages the reader to "Dream big," I think she should have been more judicious in choosing her interviewees. These people had histories that included Ateneo de Manila, Princeton, McKinsey or a large family business -- seriously, if you add the diversity factor, there's a pretty big chance already for them to get in. Not to discourage you or anything, but I think the author of this article could have come up with a better intro. Or chosen a Pinoy in Harvard who had a less-distinguished background to support her "Dream big" mantra.
Maybe that future inspiration could be you.
Dream big. If you think you're dreaming big enough, dream even bigger because you're young
IT'S NOT every day that we hear stories of Filipinos journeying halfway around the world into the ivy halls of one of the world's most prestigious schools and doing good there.
Here, three recent Harvard Business School MBA graduates share their experiences studying abroad, their hopes and dreams for the country, and how it was to be a Pinoy in Harvard.
Jennifer Anne Kelly
Describe the Harvard campus.
The campus itself is stunning, and its location by the Charles River is beautiful. It?s all you can ever wish for. The library is amazing, so is the student housing. The classroom is really conducive and my favorite part is the faculty. They?re absolutely wonderful; their ability to facilitate discussions in class and their openness and willingness to talk to students who want to pop by their office to ask questions. You can go in there and talk about life; what you want in life, what inspires you.
How's the Filipino community there?
We have a very tight community and we make sure we?re in touch with a broader community like those from Harvard College, Law School, Kennedy School, etc., to make sure that all the Filipinos gather together several times a year. We either cook or order Filipino food, which is the best thing because you miss Filipino cuisine after awhile.
When Ondoy struck the Filipino community in Harvard really worked together to raise funds for the victims. We were part of the student calamity fundraising project which was able to raise $35,000 for the victims. It was really inspiring how engaged Filipino students are even abroad. You can see how much passion they have about the country.
How's your academic load? What do you do to unwind?
The coursework requires reading a lot of books, but for leisure we love to travel. Our group of Filipinos and also the South East Asian group have gone to Europe, south of France, Miami, Jamaica, Argentina. The best part of school is having free time, about a couple of days to a week off, and having a group of friends that are all happy to explore the world.
What does it take for someone to survive in this highly competitive environment?
It takes a lot of discipline, not just in your studies, but in learning both within and outside the classroom. Fifty percent of your grade is participation, so you have to be on all the time. You need confidence to convince people about your ideas. It's very useful in real life. The entire class is composed of 900 students, and we're divided into 10 sections. Harvard made sure each class is a cross section of various viewpoints, so there's someone in the group for finance, an engineer, etc., such that we can learn something new every day.
What is your advice for the Filipino youth?
Dream big. Dream as big as you can ever dream of. If you think you're dreaming big enough, dream even bigger because you're young and there are so many opportunities, and the world is in the palm of your hands. Don't let anything stop you.
Oliver Segovia
Why did you decide to go to Graduate School?
During my undergraduate years, I had 3 career paths in mind: consulting, private equity and real estate. Coming out of the Ateneo taught me about liberal arts, how to think about world, and a good appreciation of how the world works. I was always passionate about real estate growing up because it?s the family business, and also because there are only a few industries that affect people in a fundamental way.
I saw the MBA as a way of learning more about those passions, getting the skills I need to succeed in that field, and knowing people who work in those industries.
Business is a very relational social endeavor. You have to know different people, learn from different perspectives, so I applied.
How was the application process?
I submitted a resume along with essays, letters of recommendation from employer or from people who know me well, and I had an interview. The toughest part for me was the essays, because you are given limited space and a loaded question to answer. On the surface, the questions (i.e., describe your three greatest achievements in 600 words) seem simple but it's pretty hard to answer because it takes a lot of introspection.
Harvard wasn't looking for people who can easily talk about how great they are or how smart they are or how much they've already achieved, because there's a lot more people like that. But to dig really deep and figure out what really motivates you, what's your purpose in life; having that level of self-awareness to be able to talk candidly and get some lessons out of that was pretty challenging.
Now that you've graduated, what are your plans?
I'm writing a book, which started out as a project in school for the next few months. It?s about leadership and the future of business education which will be published by the Harvard Business School Press. I am planning on pursuing a full-time career in real estate.
How can you help the country given your background and training?
We had a case in a class on political economy, where we had to study the Philippines as a country and about our 10 million overseas Filipino workers and their remittances. Telling them about the OFW story was fascinating and also unbelievable for them, because they could not imagine the number of broken families there are because so many were forced to work abroad.
Perhaps, by telling the world more about the Philippines, more people would want to invest here, go as tourists and study what we've achieved. Also, by learning as much as I can from the best real estate firms, the best countries that are known for their real estate practices, the level of professionalization in those industries and by adapting it back home, I can put them all in the book.
I say to the youth, keep on learning because if there's anything I've learned, it's that I don't know anything yet. It's a very humbling experience but Harvard Business School taught me how to learn. That's the skill of being very open, being hungry for information, hungry to learn from people, places, companies, etc., in a systematic and structured way; and finally, of being able to help other people learn as well.
Paolo Campos III
How do you find studying in Harvard?
I was an undergrad in Princeton before enrolling at the Harvard MBA program, so I had a foretaste of what to expect since I had to do a lot of adjusting being the only Pinoy at Princeton at that time. Studying abroad and virtually on my own forced me outside of my comfort zone, which allowed me to grow as a person. It heightened my sense of being a Filipino, and the experience convinced me to come home and reinforce the fact that this is my country. I do have a responsibility to do what I can to make things better.
What were the difficulties you encountered?
There's definitely being home sick (sic) and missing my family and friends. As much as I was able to learn from other people from elsewhere, at the end of the day you?re all alone at home. That was the challenge, having to live independently without your security blanket.
But it was also very fulfilling to meet such amazing people from all over the world. [School was] very tough academically, but Filipinos are very well equipped to be very competitive in an academic setting. We are a very global people; generally speaking, we have a variety of cultural influences as a nation. Filipinos can hold their own academically or otherwise, despite the challenges.
Who is your favorite world leader?
Barack Obama. We were there when he got elected, we had just started school. I think he's coming up against the challenges of a chief executive. He was a masterful campaigner, and really got people to rally around his vision. Words are one thing, actions are another but just being in the States I really saw a shift from people being apolitical and not caring about politics during the Bush years, and then Obama came along and people started to care-whether for him or against him.
President Noynoy Aquino is a transformative figure in the same mould as Obama, and he got people to rally around his vision, too. The challenge for him now, like Obama, is to make the shift from the candidate of hope to being an effective administrator.
If you were to send P-Noy a message, what would it be?
Focus on the private sector to be the engine of growth. Fulfill your promise to stamp out corruption. Because it inhibits investments when there's a lot of red tape. As a foreign or local investor, you won't have much confidence in the government that allows graft to flourish.
Also, look for ways to expand public-private partnerships. That's the way to go. Take advantage of the renewed interest in the Philippines because as fiscally constrained as we are on the government side of things, there's just so much potential from the private sector to really play the role.
Also, we need to leverage OFW/ Filipinos overseas because they have so much skillm (sic) and by encouraging them to come home and set up businesses here, we can turn that into a positive force for change in the country.
What advice can you give to the youth?
Believe that the world is your oyster. You're only limited by how expansive your thinking is, how expansive your hopes and dreams are. Have a goal that you really believe in, and everything comes from that. Talk to people with the same career path, learn from those who've come before you. Don't be afraid to pursue that idea which will change the world. When you do that, everything else will fall into place.
Don't get discouraged by the fact that schools in the US are very expensive. Look for full scholarships, because for those that can qualify and may lack the means, they give out grants.
Get on LinkedIn, connect with these people and message them from there.
Who knows, they might actually respond. People based in the US use LinkedIn more, and use it better. But, please, no stalker-ish messages or even desperate pleas. Be professional.
Even if they don't respond, then you could also just look at their profiles and measure your chances. Though the author below encourages the reader to "Dream big," I think she should have been more judicious in choosing her interviewees. These people had histories that included Ateneo de Manila, Princeton, McKinsey or a large family business -- seriously, if you add the diversity factor, there's a pretty big chance already for them to get in. Not to discourage you or anything, but I think the author of this article could have come up with a better intro. Or chosen a Pinoy in Harvard who had a less-distinguished background to support her "Dream big" mantra.
Maybe that future inspiration could be you.
Proudly Pinoy in Harvard
IT'S NOT every day that we hear stories of Filipinos journeying halfway around the world into the ivy halls of one of the world's most prestigious schools and doing good there.
Here, three recent Harvard Business School MBA graduates share their experiences studying abroad, their hopes and dreams for the country, and how it was to be a Pinoy in Harvard.
Jennifer Anne Kelly
Describe the Harvard campus.
The campus itself is stunning, and its location by the Charles River is beautiful. It?s all you can ever wish for. The library is amazing, so is the student housing. The classroom is really conducive and my favorite part is the faculty. They?re absolutely wonderful; their ability to facilitate discussions in class and their openness and willingness to talk to students who want to pop by their office to ask questions. You can go in there and talk about life; what you want in life, what inspires you.
How's the Filipino community there?
We have a very tight community and we make sure we?re in touch with a broader community like those from Harvard College, Law School, Kennedy School, etc., to make sure that all the Filipinos gather together several times a year. We either cook or order Filipino food, which is the best thing because you miss Filipino cuisine after awhile.
When Ondoy struck the Filipino community in Harvard really worked together to raise funds for the victims. We were part of the student calamity fundraising project which was able to raise $35,000 for the victims. It was really inspiring how engaged Filipino students are even abroad. You can see how much passion they have about the country.
How's your academic load? What do you do to unwind?
The coursework requires reading a lot of books, but for leisure we love to travel. Our group of Filipinos and also the South East Asian group have gone to Europe, south of France, Miami, Jamaica, Argentina. The best part of school is having free time, about a couple of days to a week off, and having a group of friends that are all happy to explore the world.
What does it take for someone to survive in this highly competitive environment?
It takes a lot of discipline, not just in your studies, but in learning both within and outside the classroom. Fifty percent of your grade is participation, so you have to be on all the time. You need confidence to convince people about your ideas. It's very useful in real life. The entire class is composed of 900 students, and we're divided into 10 sections. Harvard made sure each class is a cross section of various viewpoints, so there's someone in the group for finance, an engineer, etc., such that we can learn something new every day.
What is your advice for the Filipino youth?
Dream big. Dream as big as you can ever dream of. If you think you're dreaming big enough, dream even bigger because you're young and there are so many opportunities, and the world is in the palm of your hands. Don't let anything stop you.
Oliver Segovia
Why did you decide to go to Graduate School?
During my undergraduate years, I had 3 career paths in mind: consulting, private equity and real estate. Coming out of the Ateneo taught me about liberal arts, how to think about world, and a good appreciation of how the world works. I was always passionate about real estate growing up because it?s the family business, and also because there are only a few industries that affect people in a fundamental way.
I saw the MBA as a way of learning more about those passions, getting the skills I need to succeed in that field, and knowing people who work in those industries.
Business is a very relational social endeavor. You have to know different people, learn from different perspectives, so I applied.
How was the application process?
I submitted a resume along with essays, letters of recommendation from employer or from people who know me well, and I had an interview. The toughest part for me was the essays, because you are given limited space and a loaded question to answer. On the surface, the questions (i.e., describe your three greatest achievements in 600 words) seem simple but it's pretty hard to answer because it takes a lot of introspection.
Harvard wasn't looking for people who can easily talk about how great they are or how smart they are or how much they've already achieved, because there's a lot more people like that. But to dig really deep and figure out what really motivates you, what's your purpose in life; having that level of self-awareness to be able to talk candidly and get some lessons out of that was pretty challenging.
Now that you've graduated, what are your plans?
I'm writing a book, which started out as a project in school for the next few months. It?s about leadership and the future of business education which will be published by the Harvard Business School Press. I am planning on pursuing a full-time career in real estate.
How can you help the country given your background and training?
We had a case in a class on political economy, where we had to study the Philippines as a country and about our 10 million overseas Filipino workers and their remittances. Telling them about the OFW story was fascinating and also unbelievable for them, because they could not imagine the number of broken families there are because so many were forced to work abroad.
Perhaps, by telling the world more about the Philippines, more people would want to invest here, go as tourists and study what we've achieved. Also, by learning as much as I can from the best real estate firms, the best countries that are known for their real estate practices, the level of professionalization in those industries and by adapting it back home, I can put them all in the book.
I say to the youth, keep on learning because if there's anything I've learned, it's that I don't know anything yet. It's a very humbling experience but Harvard Business School taught me how to learn. That's the skill of being very open, being hungry for information, hungry to learn from people, places, companies, etc., in a systematic and structured way; and finally, of being able to help other people learn as well.
Paolo Campos III
How do you find studying in Harvard?
I was an undergrad in Princeton before enrolling at the Harvard MBA program, so I had a foretaste of what to expect since I had to do a lot of adjusting being the only Pinoy at Princeton at that time. Studying abroad and virtually on my own forced me outside of my comfort zone, which allowed me to grow as a person. It heightened my sense of being a Filipino, and the experience convinced me to come home and reinforce the fact that this is my country. I do have a responsibility to do what I can to make things better.
What were the difficulties you encountered?
There's definitely being home sick (sic) and missing my family and friends. As much as I was able to learn from other people from elsewhere, at the end of the day you?re all alone at home. That was the challenge, having to live independently without your security blanket.
But it was also very fulfilling to meet such amazing people from all over the world. [School was] very tough academically, but Filipinos are very well equipped to be very competitive in an academic setting. We are a very global people; generally speaking, we have a variety of cultural influences as a nation. Filipinos can hold their own academically or otherwise, despite the challenges.
Who is your favorite world leader?
Barack Obama. We were there when he got elected, we had just started school. I think he's coming up against the challenges of a chief executive. He was a masterful campaigner, and really got people to rally around his vision. Words are one thing, actions are another but just being in the States I really saw a shift from people being apolitical and not caring about politics during the Bush years, and then Obama came along and people started to care-whether for him or against him.
President Noynoy Aquino is a transformative figure in the same mould as Obama, and he got people to rally around his vision, too. The challenge for him now, like Obama, is to make the shift from the candidate of hope to being an effective administrator.
If you were to send P-Noy a message, what would it be?
Focus on the private sector to be the engine of growth. Fulfill your promise to stamp out corruption. Because it inhibits investments when there's a lot of red tape. As a foreign or local investor, you won't have much confidence in the government that allows graft to flourish.
Also, look for ways to expand public-private partnerships. That's the way to go. Take advantage of the renewed interest in the Philippines because as fiscally constrained as we are on the government side of things, there's just so much potential from the private sector to really play the role.
Also, we need to leverage OFW/ Filipinos overseas because they have so much skillm (sic) and by encouraging them to come home and set up businesses here, we can turn that into a positive force for change in the country.
What advice can you give to the youth?
Believe that the world is your oyster. You're only limited by how expansive your thinking is, how expansive your hopes and dreams are. Have a goal that you really believe in, and everything comes from that. Talk to people with the same career path, learn from those who've come before you. Don't be afraid to pursue that idea which will change the world. When you do that, everything else will fall into place.
Don't get discouraged by the fact that schools in the US are very expensive. Look for full scholarships, because for those that can qualify and may lack the means, they give out grants.
Friday, November 22, 2013
Emergency Student Fund for US-based Students from the Philippines
A kababayan student out there may need this:
Application Deadline: Dec. 4, 2013
IIE is issuing a call for nominations
from U.S. colleges and universities that currently have students from
the Philippines enrolled on their campuses who have emergency needs for
funds due to of the financial situation in their home country caused by
typhoon Haiyan. Philippines-ESF
will provide grants of $3,000 each to selected Filipino students
nominated by their U.S. host colleges and universities. Priority will be
given to undergraduates and to those with the most urgent financial
need and those closest to graduation.
Allan E. Goodman, president and CEO of
the IIE, said, "Our goal is to help relieve the financial burden that
is compounding these students' personal distress, and to encourage them
to complete their U.S. studies so they can return home with the skills
and new knowledge to help rebuild their shattered communities."
International Student Advisers or other campus officials should complete the Philippines-ESF nomination form and e-mail it to ESF@iie.org
by December 4, 2013. Awards will be announced in mid-December.
Applications directly from students will NOT be accepted. U.S. host
campuses nominating students for Philippines-ESF awards are expected to
provide some emergency assistance to the nominated students, through
tuition waivers, full or partial scholarships, housing, stipends, loans,
work study, or other forms of support.
IIE’s Emergency Student Fund provides
grants to post-secondary students matriculated at accredited educational
institutions outside their home countries whose sources of support have
been impacted by natural disaster or other crises. Since 2010, IIE’s
ESF has provided over $1 million to more than 400 students from Syria,
Iran, Japan, Haiti, Libya, and Thailand whose home sources of financial
support were impacted by crisis or natural disaster.
Sunday, November 17, 2013
Hell Week
The devastation brought by Haiyan has made it hard to bear being in a country far away. Not a single day passes without my checking Facebook or news websites for every update on the distribution of relief goods. Not a single day passes without my breaking down over the heartbreaking stories.
It's too much.
Never mind that next week is shaping up to be the most demanding week that I'm about to face in b-school. Midterms, project presentations, case reports, papers -- you name it, I have it due next week. Try studying, having group meetings and working part-time for 12 hours with your mind half-distracted and yourself yearning to be across the Pacific.
It's tough but not impossible to get through. Next week is nothing compared to what the Haiyan victims and survivors are going through.
As an MBA student working to get through school debt-free, what can I do? Check on friends who were affected. Say thanks to classmates and friends who express concern. Share online donation links and spread news of US relief collection centers on social media. Work with campus organizations for fundraisers. Donate online. Pray. Influence friends back home to help. But, somehow, this seems too little. It's certainly not enough to bring those badly affected by Haiyan out of their personal hell.
For inspiration:
Bigas, Sardinas at Trenta Pesos
- Mayette Cinco, Facebook
Tuesday, October 22, 2013
Case Interviews
When I entered b-school, case interviews was one of the topics that was part of orientation (read: something that we had to learn asap).
Case interviews have been the norm in the consulting industry, but other companies are now adding cases to their MBA internship and full-time interviews. Amazon, for instance, conducts back-to-back case interviews with MBA students. (Example: Tell me whether there are enough trampolines in stock in this warehouse.) Case interviewing is actually a useful skill to have, if only because of the frameworks that can be applied to typical business problems.
Click this to see a sample case interview, from executiveboard.com.
I have gone through mock case interviews as a first-year MBA student, and have gone through zero actual case interviews in my internship search. Now that I look back upon it, I have been lucky having had only behavioral interview questions, though I must admit that I feel that I haven't had the full MBA experience when it comes to interviews.
Case interviews are pretty stressful, especially when you're not used to them, and my classmates who have gone through them say that it really helps going through case interviews with a second-year or one of your classmates. Sample case questions are related to:
You have papers on which to organize your thoughts (and which the interviewer may ask to keep), and can ask as many questions as you want from the interviewer after a significant pause and a brief summary of how you understood the case. You have to appear in control -- not nervous or rattled. Whatever your answer is, you can expect the interviewer to find reasons why you should have chosen the alternative option. Practice really helps since your mind is able to jump into case frameworks more easily.
Case interviews are mostly challenging, but can be fun to those who like this kind of interview stress.
Case interviews have been the norm in the consulting industry, but other companies are now adding cases to their MBA internship and full-time interviews. Amazon, for instance, conducts back-to-back case interviews with MBA students. (Example: Tell me whether there are enough trampolines in stock in this warehouse.) Case interviewing is actually a useful skill to have, if only because of the frameworks that can be applied to typical business problems.
Click this to see a sample case interview, from executiveboard.com.
I have gone through mock case interviews as a first-year MBA student, and have gone through zero actual case interviews in my internship search. Now that I look back upon it, I have been lucky having had only behavioral interview questions, though I must admit that I feel that I haven't had the full MBA experience when it comes to interviews.
Case interviews are pretty stressful, especially when you're not used to them, and my classmates who have gone through them say that it really helps going through case interviews with a second-year or one of your classmates. Sample case questions are related to:
- Pricing (ex. What is the ideal price for Amazon Prime membership?)
- New Market Entry
- Growth
- Mergers and Acquisitions
- Increasing Profits
You have papers on which to organize your thoughts (and which the interviewer may ask to keep), and can ask as many questions as you want from the interviewer after a significant pause and a brief summary of how you understood the case. You have to appear in control -- not nervous or rattled. Whatever your answer is, you can expect the interviewer to find reasons why you should have chosen the alternative option. Practice really helps since your mind is able to jump into case frameworks more easily.
Case interviews are mostly challenging, but can be fun to those who like this kind of interview stress.
Friday, August 23, 2013
Credit Line Increase!
Even in the midst of the chaos of unpacking, I'm getting checks
in the mail (tax refund and stock dividend), as well as a credit line
increase from Discover!
I've been using my Discover credit card for only four months now, and I've been granted an automatic increase!
Congratulations! We're pleased to inform you that your outstanding credit management in the first year has earned you a credit line increase on your Discover® card.
The new credit line on your Discover card account is $650, of which your cash credit line is $300.
In the coming months, we will continue to evaluate your account in the first year. Make sure to make your payments on time and stay under your credit limit. We may review your account and increase your credit line automatically if you qualify. If you would prefer not to receive automatic credit line increases, simply give us a call at 1-800-347-3085.
I checked my records, and apparently my credit utilization for Discover is less than 1%. Hehe. That doesn't mean that I don't use the card or reach the credit limit of $500; it just means that I usually pay off the balance before my statement is due so that the recorded monthly balance is zero or minimal.
(Hey, even if that's only $650, it's still $650. Which is a big deal for a foreign student just starting to build her credit history. It's around Php28,650 too. Not bad.)
My credit cards will be my lifeline if I ever run out of money before I get my first paycheck at my next full-time job. So it helps if I get surprise credit increases like this in the future!
Tips:
The key ways to achieving a high credit score are simple: Pay your bills on time, avoid carrying a credit card balance, and make regular (and on-time) payments toward paying down your debts as quickly as possible.
I've been using my Discover credit card for only four months now, and I've been granted an automatic increase!
Congratulations! We're pleased to inform you that your outstanding credit management in the first year has earned you a credit line increase on your Discover® card.
The new credit line on your Discover card account is $650, of which your cash credit line is $300.
In the coming months, we will continue to evaluate your account in the first year. Make sure to make your payments on time and stay under your credit limit. We may review your account and increase your credit line automatically if you qualify. If you would prefer not to receive automatic credit line increases, simply give us a call at 1-800-347-3085.
I checked my records, and apparently my credit utilization for Discover is less than 1%. Hehe. That doesn't mean that I don't use the card or reach the credit limit of $500; it just means that I usually pay off the balance before my statement is due so that the recorded monthly balance is zero or minimal.
(Hey, even if that's only $650, it's still $650. Which is a big deal for a foreign student just starting to build her credit history. It's around Php28,650 too. Not bad.)
My credit cards will be my lifeline if I ever run out of money before I get my first paycheck at my next full-time job. So it helps if I get surprise credit increases like this in the future!
Tips:
The key ways to achieving a high credit score are simple: Pay your bills on time, avoid carrying a credit card balance, and make regular (and on-time) payments toward paying down your debts as quickly as possible.
What (MBA) Grad Schools Won't Tell You
So I found a recent article on this topic on Yahoo! Finance, and thought that some of the points raised will be useful to you guys. I'll mention those with corresponding comments.
(For the full article, please click here.)
Expect empty seats, but you'll still be competing with the whole world to get in.
Now, this article is addressed to Americans, and states that fewer Americans are going to grad school. International students take the place of domestic students, but there have been reports that even international student enrollment - especially in MBA courses - is declining.
According to a BusinessWeek article, this could be attributed to better local educational options (such as the universities in India), currency exchange rates, and visa issues, among others.
So, if you're interested in applying to the US, there seems to be a lot less competition these days.
Grades alone won't get you in.
Work experience matters. A lot.
Sure, you can graduate at the top of your class from the Ateneo and jump straight to grad school, but if you want to apply for jobs in corporate America, they'll be wondering what you can bring to the table. Also, you'll be overwhelmed with all the class discussions where everyone else is mentioning how this or that happened at their previous job. And what can you say to that?
If you've had any volunteer experience that could be construed as work experience of some sort, then better mention it in your application.
Our second-tier status may hamper your career -- and your pay.
I liked how the article put it:
"People considering graduate school who don’t want to attend or can’t get into or afford a brand-name school should look for schools with notable alumni in their industry, says Bardaro. Such alumni might bring cachet to a school that isn’t necessarily Ivy League, says Bardaro. And if the program has a strong track record of placing people in a certain industry, that could also boost the student’s chances of finding a well-paying job, she says."
It's the power of the (alumni) network.
That said, consider location. If you want a job in California after graduation, better look at schools in - or close to - California. Not saying that you can't get a job there if you go to Harvard or Darden, but the proximity just makes it easier come recruitment season.
It isn't our job to get you a job...
I think that's pretty clear enough.
Your coaches can give you as much advice as they think you need, but everything is still up to you. Don't blame your coach if you make the wrong decision with regards to the internship or full-time job you ended up with. Don't lay all the blame on career services if you couldn't find an internship or job. Hey, if you see red flags in the performance of your school's career office, then act accordingly. Be responsible for your decisions. Be responsible for your actions. (e.g. If landing a job in investment banking is that important to you, why didn't you choose a school that could help you do that?)
...And we fudge the stats on students who get jobs.
Ah, yes. This was pretty annoying to me too.
When you get into an MBA program, and it's peak recruiting season, you would see how many of your class would apply to just about any opening, as long as you get one. It's a symptom of despair and mounting panic.
So, yes, just keep in mind that when you look at stats - especially international student stats - those people might have just taken that internship or job because it was the best one available. For instance, I had a Chinese classmate who previously worked in GE Supply Chain, wanted to shift into Corporate Finance and had even taken CFA certification exams. He interned in Google. Google Supply Chain. Was that a bad decision? (Hello, it's Google.) He still wants to shift into a finance position, so I'll let you know what happens.
That's a clear example on the value of work experience, by the way. If all else fails, that's all you have to fall back on.
UPDATE (July 1, 2014): So what happened to my classmate who interned in Google? Google kept him hanging all throughout the year. They said he was in line for receiving an offer, and he never got a formal rejection notice from them. Yep, that sucks. He ended up interning for a VC firm after graduation, and accepting an offer for a supply-chain role with a manufacturing company. So... I guess he's still keeping the Finance dream alive?
Reference: 10 Things Grad Schools Won't Tell You. Marte, Jonnelle. Aug 19, 2013. http://finance.yahoo.com/news/10-things-grad-schools-won-113008623.html?page=1.
(For the full article, please click here.)
Expect empty seats, but you'll still be competing with the whole world to get in.
Now, this article is addressed to Americans, and states that fewer Americans are going to grad school. International students take the place of domestic students, but there have been reports that even international student enrollment - especially in MBA courses - is declining.
According to a BusinessWeek article, this could be attributed to better local educational options (such as the universities in India), currency exchange rates, and visa issues, among others.
So, if you're interested in applying to the US, there seems to be a lot less competition these days.
Grades alone won't get you in.
Work experience matters. A lot.
Sure, you can graduate at the top of your class from the Ateneo and jump straight to grad school, but if you want to apply for jobs in corporate America, they'll be wondering what you can bring to the table. Also, you'll be overwhelmed with all the class discussions where everyone else is mentioning how this or that happened at their previous job. And what can you say to that?
If you've had any volunteer experience that could be construed as work experience of some sort, then better mention it in your application.
Our second-tier status may hamper your career -- and your pay.
I liked how the article put it:
"People considering graduate school who don’t want to attend or can’t get into or afford a brand-name school should look for schools with notable alumni in their industry, says Bardaro. Such alumni might bring cachet to a school that isn’t necessarily Ivy League, says Bardaro. And if the program has a strong track record of placing people in a certain industry, that could also boost the student’s chances of finding a well-paying job, she says."
It's the power of the (alumni) network.
That said, consider location. If you want a job in California after graduation, better look at schools in - or close to - California. Not saying that you can't get a job there if you go to Harvard or Darden, but the proximity just makes it easier come recruitment season.
It isn't our job to get you a job...
I think that's pretty clear enough.
Your coaches can give you as much advice as they think you need, but everything is still up to you. Don't blame your coach if you make the wrong decision with regards to the internship or full-time job you ended up with. Don't lay all the blame on career services if you couldn't find an internship or job. Hey, if you see red flags in the performance of your school's career office, then act accordingly. Be responsible for your decisions. Be responsible for your actions. (e.g. If landing a job in investment banking is that important to you, why didn't you choose a school that could help you do that?)
...And we fudge the stats on students who get jobs.
Ah, yes. This was pretty annoying to me too.
When you get into an MBA program, and it's peak recruiting season, you would see how many of your class would apply to just about any opening, as long as you get one. It's a symptom of despair and mounting panic.
So, yes, just keep in mind that when you look at stats - especially international student stats - those people might have just taken that internship or job because it was the best one available. For instance, I had a Chinese classmate who previously worked in GE Supply Chain, wanted to shift into Corporate Finance and had even taken CFA certification exams. He interned in Google. Google Supply Chain. Was that a bad decision? (Hello, it's Google.) He still wants to shift into a finance position, so I'll let you know what happens.
That's a clear example on the value of work experience, by the way. If all else fails, that's all you have to fall back on.
UPDATE (July 1, 2014): So what happened to my classmate who interned in Google? Google kept him hanging all throughout the year. They said he was in line for receiving an offer, and he never got a formal rejection notice from them. Yep, that sucks. He ended up interning for a VC firm after graduation, and accepting an offer for a supply-chain role with a manufacturing company. So... I guess he's still keeping the Finance dream alive?
Reference: 10 Things Grad Schools Won't Tell You. Marte, Jonnelle. Aug 19, 2013. http://finance.yahoo.com/news/10-things-grad-schools-won-113008623.html?page=1.
Wednesday, August 21, 2013
Investment bank intern, found dead in his London flat
This article is from the Daily Mail. My prayers to the intern and his family. My previous work involved long hours either at the office or off-site, and I've had enough of that already.
|
Investment bank intern, 21, on £45,000 worked 'until 6am for three nights in a row' before he was found dead in his London flat
- Moritz Erhardt had been interning with investment bank Merrill Lynch
- Erhardt, from Germany, was found dead in his East London flat last week
- 21-year-old had 'pulled all-nighters' during his summer internship
- Summer interns are paid £45,000 a year pro rata for their work
|
 |
| 'All-nighter': Moritz Erhardt, 21, had been working gruelling hours as an intern at an investment bank |
Tuesday, August 20, 2013
Back on campus, with a full-time offer!
Even with all the unpacking that I need to do, I can't help but be on a high as I ended my internship with an offer for a full-time job. It's really amazing how God sorts everything out.
The day before my last day in the office, my boss called me to her desk. She was really excited when she handed me the offer letter. See, there was this presentation* made to the CIO and IT directors (I worked in the IT department) by each of the MBA interns, and everyone was really impressed with mine. (I practiced a lot, and I have to say that my efforts really paid off. It also helps to make them laugh -- but in a good way.) The other interns had left the previous week, and the CIO wanted me to have my offer before I left.
My boss was so excited that she went through all the details of the offer, then asked me what I thought about it. I asked her, "What's the role going to be?" Hilarious. Anyway, the position was that of a business analyst, reporting directly to her. Since my boss is an IT director reporting to the CIO, I would be on the same level in the reporting structure as other managers reporting to my boss. I wasn't a manager, of course, which was fine by me. I don't think I'm ready to manage Americans.
The terms of the offer were, again, beyond my expectations. Beyond my wildest dreams!
High salary? Check. Sign-on bonus? Check. Fully-paid relocation expenses? Check. Bonus rent-free apartment for three months? Check. Area with relatively low cost of living? Check!
Okay. So I guess I can say that if I take the offer, I won't be living in sunny California or chic New York, but just look at that trade-off. Let's go to company specifics.
Multi-national? Check. Flexible times? Check! Great work/life balance? Check!
My previous work was highly stressful so being able to leave before 5 PM, or as I needed to, was very important. Also, it's great that there's no chance of being called on the weekend by a stressed manager. Sorry, Amazon, but working regularly until 8 PM (with a possibility of going all the way to 3 AM) isn't a job that I'd love.
Business casual office environment? Check. Good career advancement? Check!
With this company, MBAs usually rotate to another job after three years. MBAs are also given a wider scope of work, on the understanding that they are expected to perform better and be able to handle more. Women MBAs are given more attention, because of diversity needs. Sorry, guys.
Assistance with green card application? Check. Possible foreign assignment? Check!
Another thing I like about this company is that they can assign you to a role in one of their offices abroad. They take your needs into consideration too. So if I get homesick for Asia, I might just be given an opportunity to serve the company in Singapore. Maybe even Manila. Wouldn't that be nice...
Lest you think that I'm working for the ideal company of all time, let me say here that the position offered to me isn't that exciting of a role. I mean, how exciting can a business analyst position be? (As exciting as you make it, says my inner voice.) It's not that challenging or hair-raising as a product manager or consultant position, but at least it gives me time to have me time. Personal time. I like having personal time to do whatever I want. Who knows what amazing scheme I could come up with when I have enough time on my hands?
My career coach told me that it would be a good idea to compare offers first, before making a decision. So as great as this offer is, I haven't signed anything yet, and will be going back to the hunt. I'm just happy and grateful and thankful that I have one great offer in hand.
*Internship presentation - Typically, MBA interns present the results/recommendations of their summer projects, and answer the questions thrown at them by the executives, managers, peers who attend the presentation. Think you'll just be staring at the laptop screen during internship? Well, actually, that still happens.
**Note: I hope you don't think that I got the offer just because of my outstanding presentation. According to my boss, she (and the rest of the team) really liked how I was able to step up to the job and contribute immediately. I wouldn't have been able to "contribute immediately" if I didn't have the work experience that I have had. So to those who are asking, yes, it's really important to have that work experience component down before applying to your dream school. Really helps with landing an internship and getting through the internship.
The day before my last day in the office, my boss called me to her desk. She was really excited when she handed me the offer letter. See, there was this presentation* made to the CIO and IT directors (I worked in the IT department) by each of the MBA interns, and everyone was really impressed with mine. (I practiced a lot, and I have to say that my efforts really paid off. It also helps to make them laugh -- but in a good way.) The other interns had left the previous week, and the CIO wanted me to have my offer before I left.
My boss was so excited that she went through all the details of the offer, then asked me what I thought about it. I asked her, "What's the role going to be?" Hilarious. Anyway, the position was that of a business analyst, reporting directly to her. Since my boss is an IT director reporting to the CIO, I would be on the same level in the reporting structure as other managers reporting to my boss. I wasn't a manager, of course, which was fine by me. I don't think I'm ready to manage Americans.
The terms of the offer were, again, beyond my expectations. Beyond my wildest dreams!
High salary? Check. Sign-on bonus? Check. Fully-paid relocation expenses? Check. Bonus rent-free apartment for three months? Check. Area with relatively low cost of living? Check!
Okay. So I guess I can say that if I take the offer, I won't be living in sunny California or chic New York, but just look at that trade-off. Let's go to company specifics.
Multi-national? Check. Flexible times? Check! Great work/life balance? Check!
My previous work was highly stressful so being able to leave before 5 PM, or as I needed to, was very important. Also, it's great that there's no chance of being called on the weekend by a stressed manager. Sorry, Amazon, but working regularly until 8 PM (with a possibility of going all the way to 3 AM) isn't a job that I'd love.
Business casual office environment? Check. Good career advancement? Check!
With this company, MBAs usually rotate to another job after three years. MBAs are also given a wider scope of work, on the understanding that they are expected to perform better and be able to handle more. Women MBAs are given more attention, because of diversity needs. Sorry, guys.
Assistance with green card application? Check. Possible foreign assignment? Check!
Another thing I like about this company is that they can assign you to a role in one of their offices abroad. They take your needs into consideration too. So if I get homesick for Asia, I might just be given an opportunity to serve the company in Singapore. Maybe even Manila. Wouldn't that be nice...
Lest you think that I'm working for the ideal company of all time, let me say here that the position offered to me isn't that exciting of a role. I mean, how exciting can a business analyst position be? (As exciting as you make it, says my inner voice.) It's not that challenging or hair-raising as a product manager or consultant position, but at least it gives me time to have me time. Personal time. I like having personal time to do whatever I want. Who knows what amazing scheme I could come up with when I have enough time on my hands?
My career coach told me that it would be a good idea to compare offers first, before making a decision. So as great as this offer is, I haven't signed anything yet, and will be going back to the hunt. I'm just happy and grateful and thankful that I have one great offer in hand.
*Internship presentation - Typically, MBA interns present the results/recommendations of their summer projects, and answer the questions thrown at them by the executives, managers, peers who attend the presentation. Think you'll just be staring at the laptop screen during internship? Well, actually, that still happens.
**Note: I hope you don't think that I got the offer just because of my outstanding presentation. According to my boss, she (and the rest of the team) really liked how I was able to step up to the job and contribute immediately. I wouldn't have been able to "contribute immediately" if I didn't have the work experience that I have had. So to those who are asking, yes, it's really important to have that work experience component down before applying to your dream school. Really helps with landing an internship and getting through the internship.
Sunday, August 11, 2013
Useful advice for Pinoy students in the US, Part 2
Useful advice if you're a Pinoy student going to the US, Part 1
Here are some more tips that I think would be useful for other students who have just arrived in the land of the free (check out the above link for numbers 1-5):
6. When it comes to buying textbooks, check out the sell-it-back price on Amazon first. It may be cheaper to buy a book and sell it back when your class is done. You will really benefit from this when it comes to newly released books -- for instance, there's this Accounting book (released last January) that I'll be needing later this year. It now costs $170, but I can sell it back to Amazon for $152. End result? I'll be able to use the book for only $18.
7. Compare textbook prices across different websites through Slugbooks.com.
8. Those really cheap textbooks on AbeBooks.com may be international editions with different section questions than the US editions. Just be aware of this if ever you decide to buy via that route.
9. Renting textbooks may turn out to be more expensive. If ever you're reduced to desperate measures, you may want to try a rental site I've used before: CampusBookRentals. What I like about this company is that they provide excellent customer service, free shipping and discounts during certain times of the year (usually before classes start in the fall or spring). And they usually have cheaper prices than Chegg.
10. Well, it always pays to ask around -- second-years may be selling their first-year books, or some of your classmates may have taken that elective in a previous term. Your library may also have electronic or print copies of the book you're looking for.
As you might have noticed, this post is very much textbook-related.
I think it has something to do with the fact that I've gone through the list of textbooks I might need this fall semester, and have been thinking of ways not to spend so much on them. If you're from the Philippines, you will definitely experience sticker shock when you find out how much the textbooks over here cost.
I'll be wrapping up my internship this week, and heading back to campus. Good news: my internship savings will be enough to pay off my second year's tuition fees! Yes! Hopefully, my part-time job in the library will help to cover living expenses.
Here are some more tips that I think would be useful for other students who have just arrived in the land of the free (check out the above link for numbers 1-5):
6. When it comes to buying textbooks, check out the sell-it-back price on Amazon first. It may be cheaper to buy a book and sell it back when your class is done. You will really benefit from this when it comes to newly released books -- for instance, there's this Accounting book (released last January) that I'll be needing later this year. It now costs $170, but I can sell it back to Amazon for $152. End result? I'll be able to use the book for only $18.
7. Compare textbook prices across different websites through Slugbooks.com.
8. Those really cheap textbooks on AbeBooks.com may be international editions with different section questions than the US editions. Just be aware of this if ever you decide to buy via that route.
9. Renting textbooks may turn out to be more expensive. If ever you're reduced to desperate measures, you may want to try a rental site I've used before: CampusBookRentals. What I like about this company is that they provide excellent customer service, free shipping and discounts during certain times of the year (usually before classes start in the fall or spring). And they usually have cheaper prices than Chegg.
10. Well, it always pays to ask around -- second-years may be selling their first-year books, or some of your classmates may have taken that elective in a previous term. Your library may also have electronic or print copies of the book you're looking for.
As you might have noticed, this post is very much textbook-related.
I think it has something to do with the fact that I've gone through the list of textbooks I might need this fall semester, and have been thinking of ways not to spend so much on them. If you're from the Philippines, you will definitely experience sticker shock when you find out how much the textbooks over here cost.
I'll be wrapping up my internship this week, and heading back to campus. Good news: my internship savings will be enough to pay off my second year's tuition fees! Yes! Hopefully, my part-time job in the library will help to cover living expenses.
Monday, July 1, 2013
First Year Spending
The chart, as promised:
Now, I have a partial fellowship and have low living expenses. With the fellowship, I was able to nearly halve the school's projected budget. Tuition took up 41% of my budget, while room and board took up 22%. (When I say room and board, I mean rent and food expenses.) I even ended up with a significant amount of savings that automatically go towards initial expenses for internship relocation, and the next schoolyear's budget.
If I didn't have the fellowship:
Without the fellowship, tuition would've taken up 70% of the school's projected budget. And I couldn't afford that at all, so I wouldn't even be here writing this.
So if your MBA school's budget for the year is around 100,000 and it's halved because of the fellowship (for easier estimation), the tuition I paid for my first year would amount to $23,000. With a Php 43 exchange rate, that's nearly Php 1 million. Php 989,000 to be exact.
That's a lot of money to come up with on your own, but could be attainable if you have a high-paying job where you've worked for several years. But that's just your tuition. You still need money for the basic stuff -- remember food, clothing and shelter?
I guess when you're doing your research on the schools, you can come up with scenarios with regards to your fellowship. What if you get a $20,000 fellowship? What if it's half the tuition fees? What if it's 75% of the tuition fees? Can you afford what's left? What fellowship amount will enable you to accept a school's offer? If you don't get that (partial) amount, then flex your negotiation skills and ask. What if a lower-ranked school gives you a full ride?
Just don't think that it will be easy for you to land a full scholarship on account of your nationality. Save early and invest your money wisely. Know what level of debt you're comfortable with. (I have low debt tolerance myself.) Ask the MBA students of the schools you're interested in how they handled their finances. (There usually are links on the school's website; if not, then ask the admissions officer if you can correspond with a student.) Make sure that you run through best-case and worst-case scenarios in your mind before making financial commitments.
Now, I have a partial fellowship and have low living expenses. With the fellowship, I was able to nearly halve the school's projected budget. Tuition took up 41% of my budget, while room and board took up 22%. (When I say room and board, I mean rent and food expenses.) I even ended up with a significant amount of savings that automatically go towards initial expenses for internship relocation, and the next schoolyear's budget.
If I didn't have the fellowship:
Without the fellowship, tuition would've taken up 70% of the school's projected budget. And I couldn't afford that at all, so I wouldn't even be here writing this.
So if your MBA school's budget for the year is around 100,000 and it's halved because of the fellowship (for easier estimation), the tuition I paid for my first year would amount to $23,000. With a Php 43 exchange rate, that's nearly Php 1 million. Php 989,000 to be exact.
That's a lot of money to come up with on your own, but could be attainable if you have a high-paying job where you've worked for several years. But that's just your tuition. You still need money for the basic stuff -- remember food, clothing and shelter?
I guess when you're doing your research on the schools, you can come up with scenarios with regards to your fellowship. What if you get a $20,000 fellowship? What if it's half the tuition fees? What if it's 75% of the tuition fees? Can you afford what's left? What fellowship amount will enable you to accept a school's offer? If you don't get that (partial) amount, then flex your negotiation skills and ask. What if a lower-ranked school gives you a full ride?
Just don't think that it will be easy for you to land a full scholarship on account of your nationality. Save early and invest your money wisely. Know what level of debt you're comfortable with. (I have low debt tolerance myself.) Ask the MBA students of the schools you're interested in how they handled their finances. (There usually are links on the school's website; if not, then ask the admissions officer if you can correspond with a student.) Make sure that you run through best-case and worst-case scenarios in your mind before making financial commitments.
Friday, June 28, 2013
Negotiate your MBA offer!!!!
I cannot stress that enough.
I wish someone told me that back when I was considering accepting my offer. I mean, there's nothing to lose, right? If your school gives you that offer letter, along with the partial fellowship amount, and you really, really need breathing room, then ask for a higher offer. (I'm telling you right now that if you'll be asking for a full ride, you'll be rejected. Dream on, dude!)
But you can ask for $5k more. And maybe get $3k more. Something like that.
It doesn't hurt to ask.
It also doesn't hurt to say that you're considering this other school who gave you a better offer.
Of course, state the reason why you're asking for the higher amount. And thank them, even if they cannot give you a raise. Hopefully, you're being honest -- and not just duping the school (and a more deserving classmate) of fellowship money.
Why I am giving this advice? Because I had a classmate who bragged about how he was able to raise his fellowship amount this way. I, on the other hand, was too giddy about landing the fellowship that I didn't bother to ask for more.
I wish someone told me that back when I was considering accepting my offer. I mean, there's nothing to lose, right? If your school gives you that offer letter, along with the partial fellowship amount, and you really, really need breathing room, then ask for a higher offer. (I'm telling you right now that if you'll be asking for a full ride, you'll be rejected. Dream on, dude!)
But you can ask for $5k more. And maybe get $3k more. Something like that.
It doesn't hurt to ask.
It also doesn't hurt to say that you're considering this other school who gave you a better offer.
Of course, state the reason why you're asking for the higher amount. And thank them, even if they cannot give you a raise. Hopefully, you're being honest -- and not just duping the school (and a more deserving classmate) of fellowship money.
Why I am giving this advice? Because I had a classmate who bragged about how he was able to raise his fellowship amount this way. I, on the other hand, was too giddy about landing the fellowship that I didn't bother to ask for more.
Thursday, May 30, 2013
Internship!! Bow.
So it's been a week now since I started my internship with a multi-national US company.
I've moved to another state, dealt with storage issues, cleaned out my apartment and felt the rush of having steadier income once again, even if it's only for the summer. I cannot believe that I came to this country with two 23-kg suitcases and 1 bursting-to-the-seams carry-on, and now I have -- what, 15 boxes of stuff??? And that's not even counting the appliances, full suitcases and carry-on bag too.
I feel so blessed and fortunate to land this internship -- not every company offers its interns a housing and relocation package, and even cab rides to and from the office for those who don't drive. The apartment isn't shared, and is fully furnished. It's very spacious and is in a good location that if I had to search for an apartment, this would be way out of range for me. The salary I receive is also beyond my expectations. In short, this is my dream internship package, and I am so grateful to have it! (Thanks, Lord!)
How did I land my internship?
Well, I found it through our career services website. Aside from my resume, I have a customized cover letter for every application I make, which I then show my career coach for review. I have a list of interview questions that I practice my answers for -- my answers are usually stories from my work experience, and I follow the context-action-result format. I went through eight (yes, eight!) interviews, and received the offer the day after the last seven interviews. Amazingly, I did not have to flex my networking skills at all for this. I just asked my coach and some second-years for advice when it came to accepting the offer.
What advice can I give for the internship search?
Start early and do those mock case interviews. Have a shortlist of companies. Do whatever your career office tells you to do. Ask for advice and job leads from your coaches; they are paid to provide you with career advice so ask away. Go over your resume and cover letters as many times as needed. Ask help from second-years. Do those mock case interviews again. Networking can be a big help, but is not required. Finance and consulting positions typically open in the fall; a lot of other positions (including marketing) open in January. February and March are the months when most students have interviews, and receive internship offers. If you want to attend a major career fair, go to the one sponsored by the National Black MBA Association. For the minor ones, attend those in or near your school. And, finally, pray a lot and have lots of faith!
As of this writing, there are still international students in my class who have not landed internships. And they are smart, competent individuals -- which is why I feel really bad about their situation. I guess even if the US market is recovering and more jobs are opening up for MBAs, it really is much harder for international MBAs out there. Many companies who hire internationals as interns are already evaluating them for full-time positions, which means that these companies are of the kind that sponsor H1B visas.
Among my classmates who have not landed an internship position is one friend who spent the first semester flying out to Chicago and New York on weekends to network with alumni. He scheduled mock interviews and coffee chats one after another in a single day. Career services people say that this is how you do it if you want to land a job in investment banking. My friend received an offer for a corporate finance position back then, but he rejected it. Come second semester, he would be flown out to different states for face-to-face interviews, and he reached most last-rounds. In the end, however, he didn't receive another offer. These past few weeks, he has been applying to all kinds of finance positions that he finds, and has secured graduate assistantship positions for the time-being.
I guess everyone has to find the right balance between applying for specific positions and applying for every single opening, and between being a student and an applicant. I myself did targeted applications, and it worked for me, but I guess there was luck involved too. I had another friend who applied to every single opening he was eligible for, and the many interviews tired him out and disrupted his classes and group meetings. You are still a student while you're applying, and if learning is important for you (as it is for me), then you still need significant time for your studies and groupwork.
I've moved to another state, dealt with storage issues, cleaned out my apartment and felt the rush of having steadier income once again, even if it's only for the summer. I cannot believe that I came to this country with two 23-kg suitcases and 1 bursting-to-the-seams carry-on, and now I have -- what, 15 boxes of stuff??? And that's not even counting the appliances, full suitcases and carry-on bag too.
I feel so blessed and fortunate to land this internship -- not every company offers its interns a housing and relocation package, and even cab rides to and from the office for those who don't drive. The apartment isn't shared, and is fully furnished. It's very spacious and is in a good location that if I had to search for an apartment, this would be way out of range for me. The salary I receive is also beyond my expectations. In short, this is my dream internship package, and I am so grateful to have it! (Thanks, Lord!)
How did I land my internship?
Well, I found it through our career services website. Aside from my resume, I have a customized cover letter for every application I make, which I then show my career coach for review. I have a list of interview questions that I practice my answers for -- my answers are usually stories from my work experience, and I follow the context-action-result format. I went through eight (yes, eight!) interviews, and received the offer the day after the last seven interviews. Amazingly, I did not have to flex my networking skills at all for this. I just asked my coach and some second-years for advice when it came to accepting the offer.
What advice can I give for the internship search?
Start early and do those mock case interviews. Have a shortlist of companies. Do whatever your career office tells you to do. Ask for advice and job leads from your coaches; they are paid to provide you with career advice so ask away. Go over your resume and cover letters as many times as needed. Ask help from second-years. Do those mock case interviews again. Networking can be a big help, but is not required. Finance and consulting positions typically open in the fall; a lot of other positions (including marketing) open in January. February and March are the months when most students have interviews, and receive internship offers. If you want to attend a major career fair, go to the one sponsored by the National Black MBA Association. For the minor ones, attend those in or near your school. And, finally, pray a lot and have lots of faith!
As of this writing, there are still international students in my class who have not landed internships. And they are smart, competent individuals -- which is why I feel really bad about their situation. I guess even if the US market is recovering and more jobs are opening up for MBAs, it really is much harder for international MBAs out there. Many companies who hire internationals as interns are already evaluating them for full-time positions, which means that these companies are of the kind that sponsor H1B visas.
Among my classmates who have not landed an internship position is one friend who spent the first semester flying out to Chicago and New York on weekends to network with alumni. He scheduled mock interviews and coffee chats one after another in a single day. Career services people say that this is how you do it if you want to land a job in investment banking. My friend received an offer for a corporate finance position back then, but he rejected it. Come second semester, he would be flown out to different states for face-to-face interviews, and he reached most last-rounds. In the end, however, he didn't receive another offer. These past few weeks, he has been applying to all kinds of finance positions that he finds, and has secured graduate assistantship positions for the time-being.
I guess everyone has to find the right balance between applying for specific positions and applying for every single opening, and between being a student and an applicant. I myself did targeted applications, and it worked for me, but I guess there was luck involved too. I had another friend who applied to every single opening he was eligible for, and the many interviews tired him out and disrupted his classes and group meetings. You are still a student while you're applying, and if learning is important for you (as it is for me), then you still need significant time for your studies and groupwork.
Monday, April 8, 2013
My First US Credit Card!
Woohoo! Got approved for this card! Now I can start building my credit history here (so nerdy, but I really, really needed this)!
Comparison table with other cards on this link.
Further info on highly-rated student credit cards here.
Some of my stipend-receiving Chinese classmates had been approved for credit cards late last year, and I had been hankering for one since then. It's hard to move around the US without a credit history -- landlords check it to rent you apartments, banks check it to determine the interest rates they give you for loans, etc, etc. Some landlords even require credit histories of six months, to see whether you are that reliable when it comes to paying off credit. I had to have one, and I had to have one fast.
Enter the Discover card. I had actually applied last year for a credit card with the local credit union, but had been rejected since I don't have a stipend, and the income I receive from my part-time job wasn't deemed sufficient enough to cover credit payments (sad, I know). But I'll be doing my internship over the next few months, and the income I'll be receiving can serve as a guarantee of sorts (kind of flawed reasoning right there, but I'm not complaining). Aside from my offer letter, the credit union wanted a copy of my I-20 and passport. Discover, on the other hand, just asked me about the income I expected to receive this year, plus a scanned copy of a document validating my address. Applying for Discover was all online, so it was really easy and convenient. I received their reply a couple of days after applying, and my card was on the way!
I'm not really partial to credit cards, but if I receive cash-back offers on purchases I make, then it's free money for me. More so if I get money back for paying on time, like Capital One offers on its Journey student card. The cash-back amount might be really small, but it does build up over time. A lot of barya together can be worth hundreds over time. And a credit card will be handy if ever I find myself in a financially tight spot. I'll just make sure I can pay back anything I charge on it since the interest rates get pretty steep later on!
To be honest, I very much prefer a cash system like the one in the Philippines. With cash, all you really worry about is having a lot of money with you that could get stolen, especially during registration days and you have to pay full tuition. With credit, you don't have to worry about this, but you never know when someone has stolen your credit info -- or even identity -- online. And what precaution could you take against that?
Tuesday, March 12, 2013
Spring break + Finances check
Here in the US, we students are in the middle of spring break. Ah, finally, a chance to relax! Not so for MBA students who still have to land internships or full-time jobs; spring break is the time to apply and network as hard as you can while there are no classes to interfere!
It does go by so fast. I hadn't noticed that more than three quarters of the first year are over. Second-years are now starting to reminisce and savor the remaining days before graduation. I've spent the past few days reading books, watching movies and planning my itinerary for my spring break trip (plus working extra hours at my part-time job).
Now that there's a general lull in the atmosphere, it might be a good time to check how my actual finances are doing with respect to the MBA budget.
Summary: 93.5% of the budget has been accounted for, but this already includes rent for the three remaining months I have in school. Over the next three months, I still have to spend on food, books for the last quarter, and other personal expenses. Hopefully, there will be no emergency/urgent expenses coming. If all goes well, I'd end up with some savings that I can use for next year's budget.
1. Tuition - 69%. Wouldn't have managed this without my benefactor's generosity. As for next year, let's see how my internship savings will turn out.
2. Workshop fees - 0.8%. These were the workshops we took during orientation. One thing off next year's budget.
3. Health, insurance, tech, association fees - 4%. Mandatory fees that you won't get out of paying.
4. Books - 0.8%. One source of savings (allocation was around 2.5% of the total budget) but I had to be really resourceful for the cost to go down.
5. Rent - 11%. I could have managed this in a way that would give me more savings, but I chose to live in a more expensive location that would give me a greater assurance of security (especially since I had to work late sometimes). Also, this includes the rent payments I have to make for the rest of the schoolyear.
6. Food - 1.1%. Well, I am not eating as much as I used to due to stress and to lack of appetite due to stress. Also, I bring my lunchbox to school when I know there's no free pizza, and don't go out that much.
7. Travel - 2.5%. This includes transport and accommodation expenses to career fairs and career treks I've gone to, plus some personal trips I made last year.
8. Personal - 4.3%. Okay, now this is my catch-all for all other expenses ranging from clothes to movies to gadgets to appliances to trash bags to toiletries to shoes to souvenirs to pre-paid load to football tickets. It's kind of alarming how it's nearly four times more what I spend for food, but items that fall here are often one-time spends (Like clothes? Yeah, right).
Anyway, since I am an MBA student, I should be putting up a pie chart here and giving recommendations to myself on what costs to cut next year so that I'd end up in a better financial standing. But since I'm lazy and it's spring break, I won't. I've put this up so that other Filipinos who are planning to earn their MBA in the US have some idea on what expenses there would be in their first year. Granted, I don't have a car and make the most of the free transportation my school provides, but you can factor that in your budget, along with gas, insurance, tolls, etc.
I could probably paint a more accurate picture once the first year is over. But then I might find myself exerting too much effort on my internship that I'd be too tired to go through all the numbers again.
It does go by so fast. I hadn't noticed that more than three quarters of the first year are over. Second-years are now starting to reminisce and savor the remaining days before graduation. I've spent the past few days reading books, watching movies and planning my itinerary for my spring break trip (plus working extra hours at my part-time job).
Now that there's a general lull in the atmosphere, it might be a good time to check how my actual finances are doing with respect to the MBA budget.
Summary: 93.5% of the budget has been accounted for, but this already includes rent for the three remaining months I have in school. Over the next three months, I still have to spend on food, books for the last quarter, and other personal expenses. Hopefully, there will be no emergency/urgent expenses coming. If all goes well, I'd end up with some savings that I can use for next year's budget.
1. Tuition - 69%. Wouldn't have managed this without my benefactor's generosity. As for next year, let's see how my internship savings will turn out.
2. Workshop fees - 0.8%. These were the workshops we took during orientation. One thing off next year's budget.
3. Health, insurance, tech, association fees - 4%. Mandatory fees that you won't get out of paying.
4. Books - 0.8%. One source of savings (allocation was around 2.5% of the total budget) but I had to be really resourceful for the cost to go down.
5. Rent - 11%. I could have managed this in a way that would give me more savings, but I chose to live in a more expensive location that would give me a greater assurance of security (especially since I had to work late sometimes). Also, this includes the rent payments I have to make for the rest of the schoolyear.
6. Food - 1.1%. Well, I am not eating as much as I used to due to stress and to lack of appetite due to stress. Also, I bring my lunchbox to school when I know there's no free pizza, and don't go out that much.
7. Travel - 2.5%. This includes transport and accommodation expenses to career fairs and career treks I've gone to, plus some personal trips I made last year.
8. Personal - 4.3%. Okay, now this is my catch-all for all other expenses ranging from clothes to movies to gadgets to appliances to trash bags to toiletries to shoes to souvenirs to pre-paid load to football tickets. It's kind of alarming how it's nearly four times more what I spend for food, but items that fall here are often one-time spends (Like clothes? Yeah, right).
Anyway, since I am an MBA student, I should be putting up a pie chart here and giving recommendations to myself on what costs to cut next year so that I'd end up in a better financial standing. But since I'm lazy and it's spring break, I won't. I've put this up so that other Filipinos who are planning to earn their MBA in the US have some idea on what expenses there would be in their first year. Granted, I don't have a car and make the most of the free transportation my school provides, but you can factor that in your budget, along with gas, insurance, tolls, etc.
I could probably paint a more accurate picture once the first year is over. But then I might find myself exerting too much effort on my internship that I'd be too tired to go through all the numbers again.
Thursday, March 7, 2013
Top B-Schools for Scholarships
In case you missed it, here's the link to Bloomberg BusinessWeek's MBA rankings on scholarships:
Top B-Schools for Scholarships
As you probably know by now, when business schools tell you about their financial aid package, they don't necessarily mean free money. Loans usually form a large part of the (if not the entire) financial aid package. But the above link lists top schools that dole out fellowships and scholarships to their students.
A shortlist:
1. University of Notre Dame - Mendoza
2. Indiana University - Kelley
3. Stanford
4. Harvard
5. Cornell
6. UNC Chapel Hill - Kenan-Flagler
7. University of Virginia - Darden
8. UCLA - Anderson
9. University of Michigan - Ross
10. MIT
In the University of Notre Dame, 65% of students receive scholarships, with an average amount of $25K. That's a really good deal, considering that it covers nearly 60% of the tuition fee.
Top B-Schools for Scholarships
As you probably know by now, when business schools tell you about their financial aid package, they don't necessarily mean free money. Loans usually form a large part of the (if not the entire) financial aid package. But the above link lists top schools that dole out fellowships and scholarships to their students.
A shortlist:
1. University of Notre Dame - Mendoza
2. Indiana University - Kelley
3. Stanford
4. Harvard
5. Cornell
6. UNC Chapel Hill - Kenan-Flagler
7. University of Virginia - Darden
8. UCLA - Anderson
9. University of Michigan - Ross
10. MIT
In the University of Notre Dame, 65% of students receive scholarships, with an average amount of $25K. That's a really good deal, considering that it covers nearly 60% of the tuition fee.
Thursday, January 10, 2013
My Part-time Job
Image from blogs.loc.gov (Library of Congress website)
I'm blessed to have landed a part-time job here in school. And not just any part-time job, but one that pays higher than the hourly minimum wage, which, I think, is around $7.25. My job as a graduate assistant at the library is one of the higher-paid student jobs on campus.
What do I do? I sit at the reference desk, answer calls and inquiries from visitors, make sure the printers are full of paper, respond to paper jams and out-of-toner incidents, help students when they encounter technical problems with their computers, and assist students and visitors in their research. The job helps me practice my verbal skills in a pretty safe setting. Last semester, I worked night shifts. Sometimes the library would be really busy; sometimes not. When the shift was quiet, I could then bring out my books or laptop, and study then and there.
Does it affect my studies negatively? Not really. If anything, it clears my mind of MBA stuff and provides me time away from my group. (Trust me, you can have too much time spent with your group and it takes a toll on group output.) Also, as mentioned above, I can study or polish my internship applications during the shift if I'm not doing anything. Last semester, I worked six hours a week at night. I chose night shifts because day shifts interfered with classes, group work and extra-curricular activities. One of these shifts ended at midnight, and the disadvantage of that was that I would often be sleepy in my 8 AM class next day. This semester, I'll be taking on an 8-hour weekly workload, but at least I don't have 8 AM classes. I also scheduled my work on the weekends. Another thing I'm grateful about with my job is that I can adjust my work schedule as needed -- I can give my shift to another grad assistant and sometimes take his/her shift in exchange. We tell our bosses our available times at the start of the semester. I have an MBA classmate who worked 11-hour weeks last semester, and will be doing 12-hour weeks this spring.
How did I get it? I checked the school job board before coming here, and applied before the start of classes. I didn't make the cut initially, so I'm really grateful that the bosses decided to increase the number of graduate assistants.
What's the trade-off? Less time for myself and less "social" time. As mentioned in previous posts, the MBA is a very intense program, and working adds to the stress. Instead of heading home and getting a nap, you're off to work right after grueling case discussions and classes. Sometimes, I only get to do homework once I get home from work. But since I'll be working weekends this semester, I can probably get some more "me" time on weekdays.
NOTE - The F1 visa allows visa-holders to work only on campus for at most 20 hours a week for the first year. Details here: USCIS portal.
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