Saturday, August 13, 2022

10 Years From Starting My MBA: Definitely worth it!

This goes out to anyone from the Philippines still finding my blog after more than a decade of it being up 😊

I started my MBA in August 2012, and graduated in May 2014. Let me just say that taking my MBA abroad led to opportunities that I never would have expected when I first started applying, and I am quite happy with where my journey has taken me.

A lot has already changed since I wrote most of these blog entries, so the information here is probably not as accurate or applicable anymore. But do know that there are people and resources available if you are interested in pursuing higher education outside the Philippines. Don't be afraid to ask questions (or even negotiate scholarships if it comes to it!), and don't be afraid to ask for help! There are others like me who have taken the path before you who could help you on your way.

Sunday, November 16, 2014

Stats on the MBA Class of 2014

The Complete 2014 Business School Ranking has been released, and can be found on this link. For the first time ever, Harvard is not part of the Top 5 and Duke is No. 1! (Also check out how they were ranked.)

It's interesting to see this snapshot of the graduate class I'm part of, courtesy of Bloomberg BusinessWeek. For those of you concerned with the money you have to shell out for your MBA, the ROI of the school could be something to look at.

And, no, I didn't get that $1M signing bonus.










Saturday, June 21, 2014

Graduated, started a job, now crossing fingers for an H1B

So -- this is it.

Been working for a couple of weeks now after a melange of events that included graduation, out-of-state vacation trips with my parents and my boyfriend, relocation to another state, and lots and lots of packing. I cannot emphasize enough how stressful packing and unpacking can be -- I've been in two temporary apartments in two weeks, and it's really, really awful.

How can Americans be okay with this nomadic lifestyle?! I'm just not used to it.

I've received my first paycheck, and I still have to find a long-term apartment, buy my own car and start another checking account. Depending so much on checks (to purchase a car, to pay apartment deposits) is another thing to get used to.

I'm really proud and happy that I've finished my MBA in flying colors - academic honors, no debt, some extra money after all the vacation expenses. I spent a little more than Php2.5M of my own money; the fellowship plus the money I earned from my internship and my part-time job took care of the rest of my expenses.

I'm a living testament that, yes, it is possible to get your MBA abroad without incurring debt or relying on your family for financial support. Of course, there was a pretty steep price for me to pay - and it started way before I set foot in America, from my very first paycheck.

Now, I'm ready to move on to the next stage. Hopefully, this time next year, I'll have the good news of having an approved H1B work visa. And from there -- who knows?


Thank you very much for supporting my blog and reading my posts. I'm signing off for now,  but will be available to answer questions. Just shoot them at my email pinaymba <at> gmail <dot> com. Thank you once again, and good luck to all Filipino MBA applicants!

Saturday, April 19, 2014

QS News: MBA Scholarships for Women

Here is the link to the actual article: QS Top MBA - MBA Scholarships for Women
If you go to that site, you'll be able to find links to other scholarships available (and not just for women).

If you'd rather not click to the site, below is the article in full.

Words of advice: For women, do check out the list of schools where Forté Foundation funding is available. These are grants that are exclusively available to women. I got one of these myself, though I'm not exactly sure how my school allocates them - the donor I wrote my thank-you letter to was not the Forté Foundation.


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The disproportionately small number of women in leadership roles globally is one of the major challenges for the world’s top business schools, given their essential role in producing the world’s future leaders. However, boardroom imbalance is reflected in business school cohorts, with the vast majority of the world’s business schools still a long way from achieving a 50/50 balance.

Many top schools are moving to address the issue. One key way of doing this is through the provision of merit-based MBA scholarships for women, to encourage exceptional female candidates to enroll on MBA programs and gain the leadership skills they need to advance in the world of business.
This is by no means a comprehensive list of schools offering MBA scholarships for women – indeed, it is only intended to serve a snapshot. Check school websites for details of what MBA scholarships for women are available at schools in which you are interested (see a full list of schools at which Forté Foundation funding is available).

The following schools offer need and/or merit-based scholarships to all or specific demographics of candidates that are open to male and female candidates which may also be appropriate to your needs. The following list looks only at scholarships available exclusively to women.
 
North America

Chicago Booth

At Chicago Booth a number of MBA scholarships for women are on offer: Herman Family Fellowships are intended to encourage female entrepreneurship (US$50,000), the India Trust Fellowship (two awards of US$10,000) is open to candidates living and working in India at the time of admission and Wallman Fellowships are aimed particularly at female candidates from underrepresented minority groups (full tuition for two years). Forté Foundation Fellowships are also available to female students of Chicago Booth.

Thunderbird School of Global Management

The Thunderbird School of Global Management's Women in Leadership Scholarship offers US$5,000 to female candidates.

Yale School of Management

As well as participating on the Forté Fellows program, female students of ‘particular promise’ at the Yale School of Management are eligible for the Janet "Ginger" Gelb Scholarship.

Europe

London Business School

London Business School offers a number of merit-based MBA scholarships for women. All successful female applicants are automatically considered for the London Business School Women's Scholarship (first-year fee), the Carlsson Family Scholarship (£20,000), and Forté Foundation Fellowships (two awards of £20,000). UK residents or nationals are automatically considered for the Lloyds Scholars MBA Scholarship for Women (four awards of £30,000) and may apply for the Celia Atkin Avent Scholarship (first-year fee).

INSEAD

INSEAD states a commitment to a world where 50% of managers are female. Accordingly a number MBA scholarships for women are available at the prestigious school: INSEAD Alumni Fund Women's Scholarships (up to €15,000), Forté Foundation Fellowships (two awards of €15,000), Groupe Galeries Lafayette Endowed Scholarships for Women (€10,000 with preference to those from regions in which the Groupe Galeries Lafayette operates or will operate), and Judith Connelly Delouvrier Endowed Scholarships (up to US$15,000). Scholarships are generally open to candidates at all INSEAD campuses. Candidates win the awards by writing set short essays.

Asia
Many top Asian schools have scholarships to promote female leadership. These include the Women Leadership Scholarship at CEIBS, the Scholarship for Women with Impact at HKUST (up to five merit-based awards for 25% of tuition), the Women-In-Business Scholarship at NUS.

QS Scholarships
QS also offers a number of scholarships, both independently as part of its business mission and in conjunction with top schools around the world. Two schools offer MBA scholarships for women through TopMBA.com:

EDHEC Business School

The EDHEC Scholarship for Women offers €19,000 to three women who attend QS Women in Leadership Events in New York or Toronto. To win, applicants must write a short essay about the challenges they face as a woman in the workplace, or whether they are in favor of quotas in the workplace. The deadline is May 14.

IE Business School

The IE Business School Scholarship for Women, is worth €22,500 to the two winners. To win, applicants must write an essay on technological initiatives that can promote female leadership. The deadline is May 31.

Friday, April 18, 2014

Graduation Pics

www.flickr.com
In the Philippines, it's practically a tradition to take graduation portraits before you graduate. Students give wallet-sized portraits away to their friends, writing dedications at the back, and put up larger-sized pictures in frames at home. In the US, I found out that it wasn't as much of a big deal. (At least for grad students.) Why? Because the portraits are so expensive!

The portrait booth was tucked away into a corner during the grad fair. I had to go around twice before I found it. Unlike in the Philippines, there were no make-up artists or hair stylists to assist you. I had asked the photographer how much the portraits would cost, and he was sort of dodging the question. He just told me to let my parents pay for it. Since there was hardly anyone lining up at the hard-to-find booth, I was able to take my time with my portraits. I waited for the link that he said would come, which would take me to the ordering website.

I was really surprised with how much the portraits cost! Since I only had this experience with one provider, I am giving out a disclaimer. But here is a sample of the listed packages:

  • Set of 8 wallets - starting at $29.95
  • 1 8x 10 photo - starting at $29.95
  • 1 5x7 with a presentation folder - starting at $14.95
  • 2 5x7s with folders and a jpg of your image - starting at $64.95 (Value Package)
  • 1 8x10, 2 5x7s, 8 wallets, folders and a jpg of your image - starting at $79.95 (Standard Package)
  • 2 8x10s, 2 5x7s, 4 3x5s, 8 wallets, folders and a jpg of your image - starting at $94.95 (Premium Package)
  • 2 8x10s, 4 5x7s, and 8 Wallets - starting at $89.95 (Mix & Match Value Package)
  • 1 10x14; 3 8x10s; 10 5x7s; 24 Wallets - starting at $179.95 (Mix & Match Premium Package)
  • Single image download (with $10 to spend at an online photo site) - $59.95

The Mix & Match packages mean that you can order different portrait poses from the set you had taken. The rest are only for a single portrait pose. Again, these are only a sample of the packages available; there are more options to choose from.

I was trying to decide whether to content myself with a 5x7 photo (the cheapest option), which I could then scan, but my sister persuaded me to order the 8x10 photo. The prices above are labeled "Starting at..." because you had to shell out more for glossy pictures, for retouched pictures, etc. I chose the matte, non-retouched photo. But I didn't account for shipping (around $6) and taxes!

I procrastinated on ordering because I couldn't get over the price (the gown, cap and hood had sticker shock too). When I finally did (I got the 8x10 photo), I received a coupon code for free shipping! Gah. But I had made a mistake in my order, so I had a valid reason to cancel it. Then I reordered with the free shipping code.

When I got the picture by mail, I saw that they didn't follow the instructions in my order. So I complained, and they sent me another photo for free. A few days later, I had two more photos in my mailbox! I didn't realize that they had sent me the first one by mistake (they had confirmed that they cancelled it anyway). Needless to say - with three portraits for around $30 - I was a very satisfied customer.

Friday, March 28, 2014

On Li Ka-Shing's advice


I came across this article a long while back, and it set me reflecting.


He gives you advice on how to divide your salary into proportions:
  • 30% goes to living expenses
  • 20% goes to "making friends"
  • 15% goes to learning
  • 10% goes to vacations
  • 25% goes to investments

The last net salary from my library job was around $245, the equivalent of 22.5 hours of work. If I were to look at the two weeks that this period covered, I did spend:
  • 30% on living expenses (i.e. food)
  • 5% on miscellaneous expenses (i.e. passport photos for my OPT application)

The rest of the money went into my bank account for savings and future expenses.

I don't know where Li Ka-Shing gets his budget for other kinds of expenses. The article says to "try to buy minimal clothes and shoes," but I don't think that applies to international students from the tropics who suddenly find themselves caught in the US polar vortex.


Anyway, looking at my expenses for this schoolyear, I see that:
  • 63% went to tuition and school fees
  • 18% went to room and board (of which 1% was food expense)
  • 8% went to health insurance (!!!)
  • 6% went to personal expense (OPT application, movie tickets, etc)
  • 4% went to travel expense (bookings for this summer)
  • 1% went to textbooks

And that makes 100% of my expenses for SY 2013-14 so far.

I'm amazed at how much I spent on health insurance. If only I could reimburse any "unused, unclaimed" portion in some way.





Friday, March 21, 2014

Evolution of an MBA


Brought to you by Wharton Follies 2011

So here's a video to break my blog's text monotony! Of course, it has to be MBA-related. 

Comments:
Ooh, Case in Point - our textbook for case interviews.
Au Bon Pain for group meeting snacks? Check. Those group meetings could take hours.
MBAs love costume parties.
Professional attire? Yup, you learn to leave a suit and shoes in your locker.
Jaunts to exotic destinations are not for money-saving me.
Eating out of the bin? Ugh, no.


Seriously, the changes you absorb as you go through the MBA wringer - all that business jargon of ROI, tax returns, marketing promotions and Lean operations suddenly make sense; networking in professional attire while drinking cocktails becomes part of your routine; negotiating and debating with teammates are learned skills, etc - won't necessarily make a superstar out of you once you graduate, and it's important to remember that. (MBAs have this reputation of being know-it-alls, especially MBAs from particular elite schools.)

Thursday, March 13, 2014

Don't even think of lying on your MBA application...

Or your MBA degree might just be taken away from you when you think you're this big and successful hotshot.

Don't be like this guy:
Stanford Takes Away an MBA Degree

Re that guy: changing grades on his law school transcript to make his parents happy? Really?! Give me a break. Begs the question of whether more stringent grading in American schools should be practiced so that students really put in the hard work of earning their grades, don't get misplaced confidence due to over-inflated A's and A-'s, and be used to the idea that not getting A's and A-'s is okay.

I tell you, it's too easy to get an A in the US educational system that grades don't really serve as a benchmark of academic performance anymore. A B in the MBA program is already something to be ashamed of. And that's, what, a 3 on a 4-point scale (which, on the Philippine university scale, is an 80 out of 100)? Whatever happened to C's, D's and F's?

Hah. Just wanted to say that first-year MBA students are intense when it comes to grades. Especially in the first semester of the program.

Tuesday, March 11, 2014

CEOs when they were MBA students

I was going through No Debt MBA's entries yesterday, and found a link to this interesting article.

Fortune 100 CEOs: When They Were MBA Students

And just like No Debt MBA, I found inspiration in Pepsi CEO Indra Nooyi:

Nooyi recalled how she was virtually broke in her first year as an MBA student. “Those were very tough times.,” she said.  “At the end of the month, if I saved $5. I thought I had died and gone to heaven. I was totally and complete broke. I had no money to buy clothes. Nothing. Absolutely nothing. I worked the front desk of Hadley Hall from midnight to 5 a.m. at $3.35 an hour, the minimum wage. That money was the grocery money for the week.”

I read a case on Indra Nooyi last quarter, and her story is a definite must-read. She chose the night shift because it paid an extra 50 cents an hour. She didn't have the money to buy a well-made suit so she bought one from a discount store, and wore orange snow boots to an interview (and got rejected). A professor advised her to wear a sari for the next interview (BCG), saying, "if they can't accept you in a sari, it's their loss, not yours." She got the job.

One quote of hers that strikes me: "I am so secure in myself, I don't have to be American to play in the corporate life."

(Reference: International management: managing across borders and cultures. H. Deresky. 8th ed.)


10 weeks 'til graduation

Random thoughts today:

> Monday morning, and it's our spring break!! Break started last Friday for me.

> Met an MBA alum on my way to the library. He's an international student who's switching jobs after not-even-a-year. He's going to join a startup after working at a small financial consulting firm. He says he "likes small companies." I wished him good luck!

> It's break, yes, but I am working in the library. It's nice, however, to be working in the library -- getting paid and getting fed (lots of extra food from dissertation camp) -- when most students are away.

> Must remember to get my new I-20 from the International office and mail my OPT application today!

> Need packaging tape to mail a textbook rental back. Ebay in the US is a blessing. There's stuff there that's cheaper than Amazon, Walmart or the dollar store.

> Spending more than I usually do on food with friends, and stuff like ski pants. Trading money for (affordable more-value-for-your-money) memories.

> I need a US driver's license!!! Aaaahhhhhh. Parallel parking, I'll beat you today!

> Double points for Bing Rewards today! Followed it up with Swagbucks! (for more info, follow this link.) I think I've earned around $50 so far with these two sites. Not bad!

> Wondering what to eat for mid-afternoon "lunch."

> Can't wait to know how much my tax refund will be; my tax appointment's next week.

> Wonder what ever happened to No Debt MBA? She stopped writing on her blog since she started her internship. I had been reading it before I came to the US back in 2012. Did she accumulate debt during her second year? Hmm.

> Yes, I'm graduating soon, and I'm feeling lazy, like the stereotypical second-year MBA. Cannot wait to start earning again!

Wednesday, January 1, 2014

Final stretch!

Happy New Year to everyone!

Now that it's 2014, I'm facing the final stretch -- one semester left before graduation! I'm patting myself on the back for doing well so far, especially on my finances.

It hasn't been easy working while taking my MBA, but I'm nearly done. I've just gone through a highly stressful quarter of academics - with 12 hours of work a week thrown in - and am highly gratified to earn a near flat 4.0. (Yes, I do look at my grades as a way of challenging myself; anyway, I paid good money for my education! As long as I have actually learned something, I'm fine with an A-. Conversely, I feel bad earning an A on a very easy subject where I learned nothing at all.)

I've spent more than Php 2.3 million of my own money so far on my MBA; it amazes me to have spent so much money! (Imagine if I got my MBA in AIM or Ateneo instead!) I am truly grateful for my scholarship, my part-time library job and my internship; without these, I would be drowning in debt right now or probably not be taking my MBA abroad at all.

I'm spending the holidays with my family in the Philippines, and it has been really good to be back. I was able to score a round-trip ticket for the very low price of $1,330-something, in exchange for arriving home on Christmas Day. Not that I mind that much. After all, I still get to go home. (It's just too bad that winter break this year is so much shorter!)

Enjoy the rest of the holidays, and email me at pinaymba@gmail.com for any questions! (And no, I'm still not saying what school I'm in right now.)

Friday, December 20, 2013

Trade your idle time for $5 Amazon Gift Cards!

$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.

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.

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.


Proudly Pinoy in Harvard


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.

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

The boys and i decided to drop by the grocery after church this afternoon to buy the stuff we would be sending to Tacloban City tomorrow. Nearing our house, we saw five Tawi kids waiting for us at the gate. With a smile they greeted us and handed me a small paper bag and said ' Pakisama nyo pa po ito sa ipadadala nyo bukas sa mga binagyo. Nangalakal po kami para din sa kanila..Sana po makatulong.' I opened the bag and saw a kilo of rice, 2 sardines and three ten peso coins..Ung trenta po pambili nila duon ng tinapay para hindi mayupi sa byahe.' I held the precious bag so tight & assured the boys that their donation will surely help kids in Tacloban. I know how hard they worked today just so they could share. It's not easy being chased by dogs & cops and be bullied by all sorts of 'tambays' in the streets of Rizal..Not easy to walk the entire day looking for scraps in every street garbage drums..but they braved the heat of the sun and all other challenges just to come up with what they think would be of help to others..I said to myself, nahihiya ako sa kanila..hindi ako naaawa, humahanga ako kasi hindi lahat kayang magbigay ng may kalakip na sakripisyo..so often we give from our spare..but these kids gave out of the only things they've got..Reminds me of the poor widow who gave 2 pennies for the Lord..She gave her all for the Master and that made all the difference.
God bless, beautiful children of the Savior.

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:
  • Pricing (ex. What is the ideal price for Amazon Prime membership?)
  • New Market Entry
  • Growth
  • Mergers and Acquisitions
  • Increasing Profits
You get the drift. 

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.

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:

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
By Christian Gysin, Claire Ellicott and Martin Robinson
|
'All-nighter': Moritz Erhardt, 21, had been working gruelling hours as an intern at an investment bank
A young student has died in mysterious circumstances while employed as an intern at a top investment bank – amid claims he was asked to work punishingly long hours.

The body of Moritz Erhardt was discovered on Thursday evening as he neared the end of a seven-week internship with the Bank of America Merrill Lynch’s investment bank division.

The 21-year-old – understood to be from Germany – had joined  Merrill Lynch earlier in the summer hoping to forge a career with the firm.

Paid interns at the bank normally earn £45,000 a year pro rata - around £2,700 a month.

Yesterday it was claimed Mr Erhardt may have suffered a fit or seizure. However internet forum users said he may have been working ‘all-nighters’ during his stay with the company.

Many banks are known to encourage their young students to work late into the night and in the past there have been claims those keen to impress have put in long hours with very little sleep.

On one site, called wallstreetoasis.com, many posters insisted Mr Erhardt regularly worked long hours and added: ‘One of the best interns at BAML – three all-nighters, didn’t turn up, colleagues went to find him.’

Mr Erhardt had been living in the Claredale House student accommodation flats in Bethnal Green, East London. The apartments are rented out to hundreds of interns during the summer months.

Another poster on the wallstreetoasis.com site added: ‘It is absolutely true – he was found dead in the shower by his flatmate. Intern at BAML who went home at 6am three days in a row.’
 
On Friday staff at the Claredale complex issued a statement to residents, part of which read: ‘Some of you might be aware that the emergency services were called to Claredale yesterday evening.

‘The reason for this is that we were made aware of an incident involving one of our residents. Sadly the resident concerned had passed away.

‘To avoid any rumours or misinformation, we would like to inform you all that there were no suspicious circumstances surrounding the death.’

In recent years interns have told of working long hours at investment banks.

One 20-year-old told London’s Evening Standard in 2011 that ‘you work whatever hours you’re  asked to’.

He added: ‘Every intern’s worst nightmare is what’s called “the Magic Roundabout” – which is when you get a taxi to drive you home at 7am and then it waits for you while you shower and change and then takes you back to the office.’

Another 24-year-old told the same newspaper: ‘About 100 hours a week was the minimum and the average was probably 110. I worked six-and-a-half days a week.’

A source at Bank of America Merrill Lynch said Mr Erhardt had completed previous internships at other investment banks but could not confirm or deny claims he had worked exceptionally long hours.

However he insisted staff are given both ‘mentors’ and ‘buddies’ when they join the firm and are monitored by staff from the human resources department.

The source added Mr Erhardt was very well-liked by members of staff and there will now be a post mortem examination and inquest into his death.

A statement from BAML said: ‘We are deeply shocked and saddened by the news of Moritz Erhardt’s death. 

'He was popular amongst his peers and was a highly diligent intern at our company with a promising future.

‘Our first thoughts are with his family and we send our condolences to them at this difficult time.’