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.

On Li Ka-Shing's advice

 

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

Li Ka-Shing teaches you how to buy a car & house in 5 years

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.

From phdcomics.com (I'm not a PHD, but I can definitely relate!)

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.)