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.
Friday, August 23, 2013
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.
Subscribe to:
Posts (Atom)