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Mod Note (Andy) - Throwback Thursday - this originally went up July 2012

A while back I mentioned that during the two years of my MBA program at a top-5 school, I'd put a star next to every note I took that I thought was worth carrying forward into my future career.

When I moved on, I threw away the 18 handwritten notebooks, but not before compiling all the starred stuff into a document. Depending on how you look at it ,you could say this document cost me nearly a quarter million dollars (not including opportunity cost). Disappointingly, it is only 11 pages long... and that's double-spaced.

A couple people have since written asking me for the document. It's a pretty personal list, so I can't do that. But I will share a few juicy tidbits here.

On operations: Ops MBAs have very little advancement (C-suite) potential. This is because a smart generalist can run ops up until the numbers turn Greek. Then you just hire a specialist.

On convertible debt: After exhausting the straight debt markets, CFOs like to issue convertible debt that is non-callable for a given period of time, say three years. If you are an investor in the company's other securities, pay close attention to this time frame. This is often the outside horizon of the CFO's projected time with the company. (The CFO knows that if the stock doesn't go up a lot in these three years, he is already going to be out the door and it won't be his problem.)

On strategy: A lot of companies think they have a competitive strategy but don't. If my competitors could follow this strategy and get the same results, it's a best practice, not a competitive strategy. So keep looking.

On modern M&A: It's often just a way for intangibles to change hands. You can sell a factory; it's a lot harder to find a way to legally sell a customer.

On revenue synergies: Sell them to the clients. Don't believe in them yourself.

Looking for early signs of a company in distress? The credit rating downgrade is not a warning; it's the final nail in the coffin. Instead, find out whether they are missing their 2/10 net 30 discounts. The return on that discount is way above most corporations' cost of capital. So if they're missing it, they're either morons or they have cash flow problems.

Oh, and one more important thing I learned during the program: on one of my blog posts a while back, I said that anyone prepping for b-school needs to brush up on their penis jokes.

The general response to this was along the lines of this response: "OP is out of touch with our current reality. Penis jokes? Really? Are we back in high school? I mean, I'm about to drop half a mil on a b-school and I'm suppose to laugh at a penis joke?"

Other monkeys replied and said, "Dude, get a clue; the OP was joking."

Sorry, folks. I actually wasn't joking.

Oh yes, my friend. If you go to a top program, you will pay a quarter mil (probably not a half mil) to laugh at penis jokes (typically while drinking $2 beers).

If it's any consolation, the quality of the jokes is markedly better than they were in college. From the world's best and brightest, would we expect anything else?

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Comments (80)

  • manbearpig's picture

    How exactly did your B-School cost you 250K without opportunity cost?

    -MBP

  • Going Concern's picture

    bankerella:
    Looking for early signs of a company in distress? The credit rating downgrade is not a warning; it's the final nail in the coffin. Instead, find out whether they are missing their 2/10 net 30 discounts. The return on that discount is way above most corporations' cost of capital. So if they're missing it, they're either morons or they have cash flow problems.

    Interesting - how would one go about finding that out?

    "He who fights with monsters should be careful lest he thereby become a monster. And if thou gaze long into an abyss, the abyss will also gaze into thee."

    "Life is infinitely stranger than anything which the mind of man could invent."

  • pickle's picture

    Examples of good penis jokes?

  • In reply to pickle
    happypantsmcgee's picture

    pickle:
    Examples of good penis jokes?

    Look down.

    If I had asked people what they wanted, they would have said faster horses - Henry Ford

  • WSOusername's picture

    Wait, do ppl actually go into MBA's expecting to learn? I thought everyone knew it was just a BS way to check a BS box to get into a BS industry for a BS job (albeit that pays well, thus the disregard for all the BS).

    GBS

  • mbaer2012's picture

    I start my MBA in the fall and I don't think i'm going to learn anything mind blowing from a class. I'm going for the networking, rebranding, and the job opportunities. I mean, what did you learn from undergrad that you used at your job? Does that mean you shouldn't go to undergrad?

  • goodL1fe's picture

    Getting an MBA is just for the networking. By you paying $250,000 it's like you paying for a really nice country club membership.

    Robert Clayton Dean: What is happening?
    Brill: I blew up the building.
    Robert Clayton Dean: Why?
    Brill: Because you made a phone call.

  • ThunderRoad's picture

    If you aren't learning, you're wasting your time. That applies to life generally, but especially if you're paying $250k to go to school. Finance is a competitive industry, and someone else will eat your lunch if you skate by doing the minimum. Sure you might have an associate job when you graduate, but what happens when eventually someone expects you to use your brain? Or does everyone here just already know everything there is to know about business?

    I am wise because I know that I know nothing -Socrates

  • Brady4MVP's picture

    I love bankerella's posts. No idea why people bas her so much.

    But yeah, look, you don't go to b-school for the classroom learning although I'm sure there are some interesting courses. As everyone else said, it's for the re-branding, exit opportunities, networking, and social experience. Whether or not that's worth the costs is a personal decision.

  • BTbanker's picture

    HBS is only $107k for 2 years... There is no way you spent $250k, and seriously, what did you expect B-School was all about? Come on.

  • In reply to Going Concern
    bankerella's picture

    Going Concern:
    bankerella:
    Looking for early signs of a company in distress? The credit rating downgrade is not a warning; it's the final nail in the coffin. Instead, find out whether they are missing their 2/10 net 30 discounts. The return on that discount is way above most corporations' cost of capital. So if they're missing it, they're either morons or they have cash flow problems.

    Interesting - how would one go about finding that out?

    Typically you go to back channels. That bit of data is far more valuable than many people know, and sometimes they'll let it drop for nothing.

  • Tommy Too-toned's picture

    Great post.

    An MBA sounds a lot like a late night trip to 7/11. If you're 12 beers in and the cashier tells you the bologna sandwich is $250,000, just tell them you're not as hungry as you thought you were.

  • FormerHornetDriver's picture

    I like the comment about OPS. I never figured out why my Ops professors had to make a subject that was so stupidly straightforward so unnecessarily complicated.

  • In reply to BTbanker
    Aimez's picture

    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k, and seriously, what did you expect B-School was all about? Come on.

    "What they teach you at Harvard Business School" gives a value of about $250k. They factor in the costs of living on campus or renting, books and textbooks, travel expenses, health insurance, utilities, tuition fees, cost of relocation, etc, but the author is married with 2 children, so that factors into it.

    HBS gives a cost summary here, http://www.hbs.edu/mba/admissions/costsummary.html and if you're single you will expect to pay 174,400 for 2 years. Add the increase in the CPI/inflation and that will go up marginally also. For someone married and/or who has children, the costs will be over $200k. And that's assuming they don't have designer tastes.

  • In reply to Aimez
    Brady4MVP's picture

    Aimez:
    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k, and seriously, what did you expect B-School was all about? Come on.

    "What they teach you at Harvard Business School" gives a value of about $250k. They factor in the costs of living on campus or renting, books and textbooks, travel expenses, health insurance, utilities, tuition fees, cost of relocation, etc, but the author is married with 2 children, so that factors into it.

    HBS gives a cost summary here, http://www.hbs.edu/mba/admissions/costsummary.html and if you're single you will expect to pay 174,400 for 2 years. Add the increase in the CPI/inflation and that will go up marginally also. For someone married and/or who has children, the costs will be over $200k. And that's assuming they don't have designer tastes.

    This is right. Boston is more expensive than smaller towns, and HBS students constantly go out to really nice restaurants, clubs, not to mention frequent weekend trips abroad. Going to germany for oktoberfest, weekend rendezvous in miami or vegas, etc., are quite common.

  • In reply to Brady4MVP
    Ron Paul's picture

    Brady4MVP:

    This is right. Boston is more expensive than smaller towns, and HBS students constantly go out to really nice restaurants, clubs, not to mention frequent weekend trips abroad. Going to germany for oktoberfest, weekend rendezvous in miami or vegas, etc., are quite common.

    [yada yada yada jack off motion]
  • In reply to Brady4MVP
    wotingyu's picture

    Brady4MVP:
    Aimez:
    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k, and seriously, what did you expect B-School was all about? Come on.

    "What they teach you at Harvard Business School" gives a value of about $250k. They factor in the costs of living on campus or renting, books and textbooks, travel expenses, health insurance, utilities, tuition fees, cost of relocation, etc, but the author is married with 2 children, so that factors into it.

    HBS gives a cost summary here, http://www.hbs.edu/mba/admissions/costsummary.html and if you're single you will expect to pay 174,400 for 2 years. Add the increase in the CPI/inflation and that will go up marginally also. For someone married and/or who has children, the costs will be over $200k. And that's assuming they don't have designer tastes.

    This is right. Boston is more expensive than smaller towns, and HBS students constantly go out to really nice restaurants, clubs, not to mention frequent weekend trips abroad. Going to germany for oktoberfest, weekend rendezvous in miami or vegas, etc., are quite common.

    Frequent weekend trips abroad?
    How about: Fungwah bus to NYC --> Friend's Couch

  • Khansian's picture

    Haven't gone to B-school yet, but I would imagine there is a lot of value in the general knowledge and intuition you gain from those courses. That stuff may not be worthy of keeping in your notebooks (if possible to even write down), but I think it still matters.

  • keensetofpeepers's picture

    I have several recent HBS alum buddies and they all swear by their experiences there. however they did note that they felt woefully under-trained in quant and finance, and (insert your favorite quant school here) can eat them for lunch.

    The opportunity for travel is there for everyone, of course. thank you student loans!

    where was the best trip you took OP?

  • ST Monkey's picture

    I think it's not that hard to blow $250K on a 2 year program.

    Tuition: $100K
    Books and supplies: $5K
    Housing: $50K
    Study abroad trips: $25k
    Vacations: $10K
    Food & drinks: $25K
    Transportation: $5K
    Hookers & coke: $30K

  • In reply to ThunderRoad
    Going Concern's picture

    ThunderRoad:
    If you aren't learning, you're wasting your time. That applies to life generally, but especially if you're paying $250k to go to school.

    100% agree.

    "He who fights with monsters should be careful lest he thereby become a monster. And if thou gaze long into an abyss, the abyss will also gaze into thee."

    "Life is infinitely stranger than anything which the mind of man could invent."

  • marcellus_wallace's picture

    Ok someone on here has to have gone to HBS and taken bankrella down. Come on, when will we hear this tale.

  • In reply to keensetofpeepers
    Brady4MVP's picture

    keensetofpeepers:
    I have several recent HBS alum buddies and they all swear by their experiences there. however they did note that they felt woefully under-trained in quant and finance, and (insert your favorite quant school here) can eat them for lunch.

    The opportunity for travel is there for everyone, of course. thank you student loans!

    where was the best trip you took OP?

    Yup. B-school alums in general like their experience. But every single HBS student and alum I know have said unequivocally that it was the best 2 years of their lives. And this includes people who went to fun state schools for undergrad and had great social lives. Even compared to college, HBS was far more fun.

  • yousaygoodbyeandisayhello's picture

    I demand another example of good penis joke.

    Pour some sugar on me.

  • HerSerendipity's picture

    To be fair, i think it's completely dependent on your lifestyle. $250k is probably at the extreme end, but most people probably hover somewhere around $200-225k. Speaking to a friend who just finished his first year at HBS, he mentioned that he spent $20k on travel alone this past year. I think what drives that cost up is the fact that you're booking things super last minute at some prime travel times.

  • In reply to HerSerendipity
    Derivatives's picture

    HerSerendipity:
    To be fair, i think it's completely dependent on your lifestyle. $250k is probably at the extreme end, but most people probably hover somewhere around $200-225k. Speaking to a friend who just finished his first year at HBS, he mentioned that he spent $20k on travel alone this past year. I think what drives that cost up is the fact that you're booking things super last minute at some prime travel times.

    $20K is actually average by HBS standards. A good friend also finished his first year there, and he spent around $40K on travels alone; this does not include going out and partying in boston.

  • SanDiegoBolt's picture

    Friend of a friend is in his Summer Internship post 1st year HBS. He said the first semester was tough, but it got a lot easier.

    He's interning for a start up in logistics now...

  • In reply to Ben Shalom Bernanke
    happypantsmcgee's picture

    Ben Shalom Bernanke:
    happypantsmcgee:
    pickle:
    Examples of good penis jokes?

    Look down.

    You just pulled my 2011 production of SB's in one comment


    Thats how I live my life bro, excellence.

    If I had asked people what they wanted, they would have said faster horses - Henry Ford

  • frgna's picture

    Thanks for the post Bankerella, a few questions if you would please

    Did you travel much while in school and if so how was that experience?

    What would you say was the overall impact on what you are now able to pursue in a career - did you switch focuses, want to go deeper in finance, move to buyside, etc.

    Did you meet the man of your dreams in school, and how was the dating/hookup scene in general?

    Last what have been some 'non-expected' tracks your classmates have pursued post graduation? Have they gone to weird startups, started hedge funds, vineyards, etc.?

    Cheers
    frgna

    if you like it then you shoulda put a banana on it

  • George87's picture

    Thought the M&A exchanging of intangibles was quite funny... great lessons from b-school indeed

  • In reply to frgna
    bankerella's picture

    frgna:
    Thanks for the post Bankerella, a few questions if you would please

    Did you travel much while in school and if so how was that experience?

    I did a little traveling. Was fine; didn't love it; prefer traveling on my own or with 1-2 handpicked friends. The reason is that in a 5+ person group at a top school, at least one person will be a huge pussy. By "huge pussy" I mean that they will check one or more of the following boxes: chickenshit, germ-phobic, food-phobic, eats exclusively at American food/coffee franchises, can't go out without taking two hours to get dressed, etc.

    frgna:
    What would you say was the overall impact on what you are now able to pursue in a career - did you switch focuses, want to go deeper in finance, move to buyside, etc.

    Hugely impactful. That was the point.

    frgna:
    Did you meet the man of your dreams in school, and how was the dating/hookup scene in general?

    This is the only non-softball question you asked and probably the only one you actually want to know the answer to. B-school's not really where you meet the man of your dreams, though a few do in every class. I wasn't one of those people.

    I suppose I would call the dating/hookup scene pretty liquid with low transaction costs. As long as you don't mind things getting weird and incestuous with your close classmates.

    frgna:
    Last what have been some 'non-expected' tracks your classmates have pursued post graduation? Have they gone to weird startups, started hedge funds, vineyards, etc.?

    Every class at a top MBA program has some people that go off and do some amazing, iconic, weird, cool things. But if I get really specific here, it'll out me to somebody somewhere. Would prefer not to do that.

  • In reply to BTbanker
    bankerella's picture

    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k.

    Durr, you're totally right. Don't know what I was thinking. Tuition is all that matters; our parents pay for the rest.

    Oh wait, no. They don't.

    Go to HBS, Connor.

    No, seriously. Go apply to HBS. Get in. Rent your apartment. Move there ahead of time. Set up your apartment. Get health insurance. Fill your fridge twice a month. Buy necessary personal tech solutions. Pay dues to join the ten or twelve clubs you care about most. Go to some dinners; make some friends. Purchase your recruiting wardrobe. Go to Oktoberfest. Rent the gigantic costume for that theme party. Go on a trek. Go out and party once every few weeks or so. Climb a big mountain on some other continent. Fly out to see your family, your significant other, etc. Sign up to do the course with the global component that costs the extra $7k. Fly out on your own dime to see if that secret startup is as baller as you think it might be.

    Of course, don't forget to pay your rent, power, phone, internet, dry cleaning, storage, parking, car, water/garbage, auto insurance bills. (You do pay those, right? Or do you currently live in a dorm?)

    I'm now at December of the first year. You want me to keep going?

  • In reply to bankerella
    happypantsmcgee's picture

    bankerella:
    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k.

    Durr, you're totally right. Don't know what I was thinking. Tuition is all that matters; our parents pay for the rest.

    Oh wait, no. They don't.

    Go to HBS, Connor.

    No, seriously. Go apply to HBS. Get in. Rent your apartment. Move there ahead of time. Set up your apartment. Get health insurance. Fill your fridge twice a month. Buy necessary personal tech solutions. Pay dues to join the ten or twelve clubs you care about most. Go to some dinners; make some friends. Purchase your recruiting wardrobe. Go to Oktoberfest. Rent the gigantic costume for that theme party. Go on a trek. Go out and party once every few weeks or so. Climb a big mountain on some other continent. Fly out to see your family, your significant other, etc. Sign up to do the course with the global component that costs the extra $7k. Fly out on your own dime to see if that secret startup is as baller as you think it might be.

    Of course, don't forget to pay your rent, power, phone, internet, dry cleaning, storage, parking, car, water/garbage, auto insurance bills. (You do pay those, right? Or do you currently live in a dorm?)

    I'm now at December of the first year. You want me to keep going?


    Not sure why but I pictured you giving this speech at a bar getting all sassy with some frat bro. It was funny.

    If I had asked people what they wanted, they would have said faster horses - Henry Ford

  • In reply to bankerella
    BTbanker's picture

    bankerella:
    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k.

    Durr, you're totally right. Don't know what I was thinking. Tuition is all that matters; our parents pay for the rest.

    Oh wait, no. They don't.

    Go to HBS, Connor.

    No, seriously. Go apply to HBS. Get in. Rent your apartment. Move there ahead of time. Set up your apartment. Get health insurance. Fill your fridge twice a month. Buy necessary personal tech solutions. Pay dues to join the ten or twelve clubs you care about most. Go to some dinners; make some friends. Purchase your recruiting wardrobe. Go to Oktoberfest. Rent the gigantic costume for that theme party. Go on a trek. Go out and party once every few weeks or so. Climb a big mountain on some other continent. Fly out to see your family, your significant other, etc. Sign up to do the course with the global component that costs the extra $7k. Fly out on your own dime to see if that secret startup is as baller as you think it might be.

    Of course, don't forget to pay your rent, power, phone, internet, dry cleaning, storage, parking, car, water/garbage, auto insurance bills. (You do pay those, right? Or do you currently live in a dorm?)

    I'm now at December of the first year. You want me to keep going?

    Ohh I see. So my tuition is ~60k right now. You're saying I should add the $10k I spent on Spring Break to my tuition. I guess we have different views on what to include for school costs.

  • In reply to happypantsmcgee
    bankerella's picture

    happypantsmcgee:

    Not sure why but I pictured you giving this speech at a bar getting all sassy with some frat bro. It was funny.

    Yeah, I think I gave that speech at a bar to some candidates this past spring. If my hazy memory serves, I believe I delivered it douchily and I think it might have gotten a laugh or two.

    This is exactly why I don't want to describe weird stuff that specific classmates did after graduation. I don't really need anonymity as much as I used to, but it does provide a little bit of extra room to lean back and douche with gusto here.

    I figure there's probably a few chicks in every class whose styles are similar to mine... but as soon as I start giving out anything that could identify the specific school and class, I'm going to get a PM saying, "Hey, you were in my class at [X]; how's that supposedly-badass job, sorry to hear about your stock price, and hey, by the way, what are you doing fucking with college kids' heads on the internet?"

  • Brady4MVP's picture

    Bankerella, did you know anyone from your class who actually regretted going to b-school? Just curious since i have yet to meet a single person who regretted going to a top MBA program. They all rave about how fucking awesome it was.

    Also it seems like most relationships get broken up in b-school. They call that "black october" or something. I guess when there are so many alpha accomplished attractive people in one setting, fireworks are bound to fly. Pretty intense stuff. My best friend met his gf in the first week of school. Meeting girls in b-school definitely seem easier than trying to meet girls at bars/clubs, the vast majority of whom I have nothing in common with.

  • In reply to Brady4MVP
    bankerella's picture

    Brady4MVP:
    Bankerella, did you know anyone from your class who actually regretted going to b-school? Just curious since i have yet to meet a single person who regretted going to a top MBA program. They all rave about how fucking awesome it was.

    Also it seems like most relationships get broken up in b-school. They call that "black october" or something. I guess when there are so many alpha accomplished attractive people in one setting, fireworks are bound to fly. Pretty intense stuff. My best friend met his gf in the first week of school. Meeting girls in b-school definitely seem easier than trying to meet girls at bars/clubs, the vast majority of whom I have nothing in common with.

    Hmm, I don't know... but I definitely know some people who SHOULD regret getting an MBA.

    Example. Girl and guy meet in first semester, they're shacked up/married/committed a year later. The girl doesn't do too well in second year recruiting. Says, "I just didn't see what I was looking for," or "I didn't really hit the recruiting cycle." Bitch, please. You're in b-school; how do you miss the recruiting cycle? Guy gets into PE. Girl moves with him, "continuing the job search" in the new city.

    A year later she's a full-time stay-at-home housewife with a 20-hour-a-week startup making stuffed animals, jewelry, or travel reservations. The startup website costs the guy $10k and usually brings in $4k in its first year. Most of her customers are her classmates who either feel sorry for her or want to keep in touch with the guy.

    A year after that she's pregnant. Because she has to be. Because otherwise, she's just a top MBA who sells four stuffed animals a week on the internet. But once you're a mom, the story changes to "This top MBA could have had a career in banking or PE but sacrificed it all to spend more time with her child; get off her back, she's an angel, here's a soft-focus photograph of her nuzzling her adorable son Greggie's cheek."

    Does she regret the MBA? Nope.

    But what do you think of the husband's situation here? Is he more of a baller because he turned a chick with a top MBA into a housewife? Or is he a schmuck for starting up a relationship with a woman who takes her foot off the gas pedal the moment he commits?

  • In reply to bankerella
    cphbravo96's picture

    bankerella:
    Brady4MVP:
    Bankerella, did you know anyone from your class who actually regretted going to b-school? Just curious since i have yet to meet a single person who regretted going to a top MBA program. They all rave about how fucking awesome it was.

    Also it seems like most relationships get broken up in b-school. They call that "black october" or something. I guess when there are so many alpha accomplished attractive people in one setting, fireworks are bound to fly. Pretty intense stuff. My best friend met his gf in the first week of school. Meeting girls in b-school definitely seem easier than trying to meet girls at bars/clubs, the vast majority of whom I have nothing in common with.

    Hmm, I don't know... but I definitely know some people who SHOULD regret getting an MBA.

    Example. Girl and guy meet in first semester, they're shacked up/married/committed a year later. The girl doesn't do too well in second year recruiting. Says, "I just didn't see what I was looking for," or "I didn't really hit the recruiting cycle." Bitch, please. You're in b-school; how do you miss the recruiting cycle? Guy gets into PE. Girl moves with him, "continuing the job search" in the new city.

    A year later she's a full-time stay-at-home housewife with a 20-hour-a-week startup making stuffed animals, jewelry, or travel reservations. The startup website costs the guy $10k and usually brings in $4k in its first year. Most of her customers are her classmates who either feel sorry for her or want to keep in touch with the guy.

    A year after that she's pregnant. Because she has to be. Because otherwise, she's just a top MBA who sells four stuffed animals a week on the internet. But once you're a mom, the story changes to "This top MBA could have had a career in banking or PE but sacrificed it all to spend more time with her child; get off her back, she's an angel, here's a soft-focus photograph of her nuzzling her adorable son Greggie's cheek."

    Does she regret the MBA? Nope.

    But what do you think of the husband's situation here? Is he more of a baller because he turned a chick with a top MBA into a housewife? Or is he a schmuck for starting up a relationship with a woman who takes her foot off the gas pedal the moment he commits?

    I seriously Internet-love you bankerella!! This stuff is gold.

    Regards

    "The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so."
    - Ronald Reagan

  • In reply to bankerella
    Ben Shalom Bernanke's picture

    bankerella:
    Brady4MVP:
    Bankerella, did you know anyone from your class who actually regretted going to b-school? Just curious since i have yet to meet a single person who regretted going to a top MBA program. They all rave about how fucking awesome it was.

    Also it seems like most relationships get broken up in b-school. They call that "black october" or something. I guess when there are so many alpha accomplished attractive people in one setting, fireworks are bound to fly. Pretty intense stuff. My best friend met his gf in the first week of school. Meeting girls in b-school definitely seem easier than trying to meet girls at bars/clubs, the vast majority of whom I have nothing in common with.

    Hmm, I don't know... but I definitely know some people who SHOULD regret getting an MBA.

    Example. Girl and guy meet in first semester, they're shacked up/married/committed a year later. The girl doesn't do too well in second year recruiting. Says, "I just didn't see what I was looking for," or "I didn't really hit the recruiting cycle." Bitch, please. You're in b-school; how do you miss the recruiting cycle? Guy gets into PE. Girl moves with him, "continuing the job search" in the new city.

    A year later she's a full-time stay-at-home housewife with a 20-hour-a-week startup making stuffed animals, jewelry, or travel reservations. The startup website costs the guy $10k and usually brings in $4k in its first year. Most of her customers are her classmates who either feel sorry for her or want to keep in touch with the guy.

    A year after that she's pregnant. Because she has to be. Because otherwise, she's just a top MBA who sells four stuffed animals a week on the internet. But once you're a mom, the story changes to "This top MBA could have had a career in banking or PE but sacrificed it all to spend more time with her child; get off her back, she's an angel, here's a soft-focus photograph of her nuzzling her adorable son Greggie's cheek."

    Does she regret the MBA? Nope.

    But what do you think of the husband's situation here? Is he more of a baller because he turned a chick with a top MBA into a housewife? Or is he a schmuck for starting up a relationship with a woman who takes her foot off the gas pedal the moment he commits?

    haha

  • In reply to cphbravo96
    HFFBALLfan123's picture

    cphbravo96:
    bankerella:
    Brady4MVP:
    Bankerella, did you know anyone from your class who actually regretted going to b-school? Just curious since i have yet to meet a single person who regretted going to a top MBA program. They all rave about how fucking awesome it was.

    Also it seems like most relationships get broken up in b-school. They call that "black october" or something. I guess when there are so many alpha accomplished attractive people in one setting, fireworks are bound to fly. Pretty intense stuff. My best friend met his gf in the first week of school. Meeting girls in b-school definitely seem easier than trying to meet girls at bars/clubs, the vast majority of whom I have nothing in common with.

    Hmm, I don't know... but I definitely know some people who SHOULD regret getting an MBA.

    Example. Girl and guy meet in first semester, they're shacked up/married/committed a year later. The girl doesn't do too well in second year recruiting. Says, "I just didn't see what I was looking for," or "I didn't really hit the recruiting cycle." Bitch, please. You're in b-school; how do you miss the recruiting cycle? Guy gets into PE. Girl moves with him, "continuing the job search" in the new city.

    A year later she's a full-time stay-at-home housewife with a 20-hour-a-week startup making stuffed animals, jewelry, or travel reservations. The startup website costs the guy $10k and usually brings in $4k in its first year. Most of her customers are her classmates who either feel sorry for her or want to keep in touch with the guy.

    A year after that she's pregnant. Because she has to be. Because otherwise, she's just a top MBA who sells four stuffed animals a week on the internet. But once you're a mom, the story changes to "This top MBA could have had a career in banking or PE but sacrificed it all to spend more time with her child; get off her back, she's an angel, here's a soft-focus photograph of her nuzzling her adorable son Greggie's cheek."

    Does she regret the MBA? Nope.

    But what do you think of the husband's situation here? Is he more of a baller because he turned a chick with a top MBA into a housewife? Or is he a schmuck for starting up a relationship with a woman who takes her foot off the gas pedal the moment he commits?

    I seriously Internet-love you bankerella!! This stuff is gold.

    Regards

    Couldn't have been said any better...

  • In reply to cphbravo96
    txjustin's picture

    cphbravo96:
    bankerella:
    Brady4MVP:
    Bankerella, did you know anyone from your class who actually regretted going to b-school? Just curious since i have yet to meet a single person who regretted going to a top MBA program. They all rave about how fucking awesome it was.

    Also it seems like most relationships get broken up in b-school. They call that "black october" or something. I guess when there are so many alpha accomplished attractive people in one setting, fireworks are bound to fly. Pretty intense stuff. My best friend met his gf in the first week of school. Meeting girls in b-school definitely seem easier than trying to meet girls at bars/clubs, the vast majority of whom I have nothing in common with.

    Hmm, I don't know... but I definitely know some people who SHOULD regret getting an MBA.

    Example. Girl and guy meet in first semester, they're shacked up/married/committed a year later. The girl doesn't do too well in second year recruiting. Says, "I just didn't see what I was looking for," or "I didn't really hit the recruiting cycle." Bitch, please. You're in b-school; how do you miss the recruiting cycle? Guy gets into PE. Girl moves with him, "continuing the job search" in the new city.

    A year later she's a full-time stay-at-home housewife with a 20-hour-a-week startup making stuffed animals, jewelry, or travel reservations. The startup website costs the guy $10k and usually brings in $4k in its first year. Most of her customers are her classmates who either feel sorry for her or want to keep in touch with the guy.

    A year after that she's pregnant. Because she has to be. Because otherwise, she's just a top MBA who sells four stuffed animals a week on the internet. But once you're a mom, the story changes to "This top MBA could have had a career in banking or PE but sacrificed it all to spend more time with her child; get off her back, she's an angel, here's a soft-focus photograph of her nuzzling her adorable son Greggie's cheek."

    Does she regret the MBA? Nope.

    But what do you think of the husband's situation here? Is he more of a baller because he turned a chick with a top MBA into a housewife? Or is he a schmuck for starting up a relationship with a woman who takes her foot off the gas pedal the moment he commits?

    I seriously Internet-love you bankerella!! This stuff is gold.

    Regards

    cosign, awesome

  • WSOusername's picture

    Bankerella, so hot right now. Bankerella.

    GBS

  • In reply to bankerella
    Brady4MVP's picture

    bankerella:
    Brady4MVP:
    Bankerella, did you know anyone from your class who actually regretted going to b-school? Just curious since i have yet to meet a single person who regretted going to a top MBA program. They all rave about how fucking awesome it was.

    Also it seems like most relationships get broken up in b-school. They call that "black october" or something. I guess when there are so many alpha accomplished attractive people in one setting, fireworks are bound to fly. Pretty intense stuff. My best friend met his gf in the first week of school. Meeting girls in b-school definitely seem easier than trying to meet girls at bars/clubs, the vast majority of whom I have nothing in common with.

    Hmm, I don't know... but I definitely know some people who SHOULD regret getting an MBA.

    Example. Girl and guy meet in first semester, they're shacked up/married/committed a year later. The girl doesn't do too well in second year recruiting. Says, "I just didn't see what I was looking for," or "I didn't really hit the recruiting cycle." Bitch, please. You're in b-school; how do you miss the recruiting cycle? Guy gets into PE. Girl moves with him, "continuing the job search" in the new city.

    A year later she's a full-time stay-at-home housewife with a 20-hour-a-week startup making stuffed animals, jewelry, or travel reservations. The startup website costs the guy $10k and usually brings in $4k in its first year. Most of her customers are her classmates who either feel sorry for her or want to keep in touch with the guy.

    A year after that she's pregnant. Because she has to be. Because otherwise, she's just a top MBA who sells four stuffed animals a week on the internet. But once you're a mom, the story changes to "This top MBA could have had a career in banking or PE but sacrificed it all to spend more time with her child; get off her back, she's an angel, here's a soft-focus photograph of her nuzzling her adorable son Greggie's cheek."

    Does she regret the MBA? Nope.

    But what do you think of the husband's situation here? Is he more of a baller because he turned a chick with a top MBA into a housewife? Or is he a schmuck for starting up a relationship with a woman who takes her foot off the gas pedal the moment he commits?

    Examples like this couple are an anomaly though. About 90% of M7 MBA students are employed upon graduation, and most of the rest find something within 6 months of graduating. You would really have to fuck up badly or have impossibly high standards if you don't have a job more than 6 months after coming out of a M7 program.

    Socially I think b-schools are great for people to meet significant others. Most of my friends in school have met their girlfriends, and in all cases they're serious relationships. These are guys who had a tough time meeting girls in major cities either because of a busy work schedule and/or they just couldn't find people they could relate to. At these top schools, there is an implicit understanding that almost everyone there passed a certain threshold of intelligence, accomplishments, work ethic, and ambition. Admissions acts as a powerful signaling and filtering mechanism. Thus, my guy friends don't have to worry that the cute girl in their section is some dummy who only cares about big 10 college football or the latest kim kardashian gossip.

  • In reply to Brady4MVP
    bankerella's picture

    [quote=Brady4MVP

    Examples like this couple are an anomaly though. About 90% of M7 MBA students are employed upon graduation, and most of the rest find something within 6 months of graduating. You would really have to fuck up badly or have impossibly high standards if you don't have a job more than 6 months after coming out of a M7 program. [/quote]

    Yep. Completely agree. The example I gave was the rare exception to the general rule that people do well out of top programs.

    My point is that if you take your foot off the gas pedal afterwards, a top MBA is close to useless... or worse than useless if you (or your long-suffering husband) are still paying it off.

  • In reply to BTbanker
    energyanalyst's picture

    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k, and seriously, what did you expect B-School was all about? Come on.

    Did bankrella said she is from HBS.?...and she is right Tution+ living expenses +FV of your two year salary.=$250k

  • In reply to energyanalyst
    bankerella's picture

    energyanalyst:
    Connor:
    HBS is only $107k for 2 years... There is no way you spent $250k, and seriously, what did you expect B-School was all about? Come on.

    Did bankrella said she is from HBS.?...and she is right Tution+ living expenses +FV of your two year salary.=$250k

    Uh, no. The $250 was cash out of pocket.

    Not to bang my dick on the table or anything, but two years of my pre-MBA salary was already a good bit more than $250k.

    With opportunity cost, the number would be over half a mil, and in my case it was well over the half-mil mark due to the way my life was set up at the time.

    The $250k number is tuition + living expenses + all the other stuff you end up paying for. I have already hashed out on other posts what makes it so expensive. In short, most people here either 1) don't comprehend how much life as a full-fledged grownup costs because they haven't paid for it themselves, or 2) don't realize that going to b-school includes the following: rent the place, move there, move back, rent a place for your summer, move there, move back, fly around a lot, eat, drink, buy health insurance, join a ton of clubs, pay a lot of dues, buy a lot of books, etc. They also don't seem to realize that the academic budget is only for 10 months of the year, and that there is usually no way to survive on the budget the school sets in front of you. (Just as one example, if you were to stick to the straight budget, you'd have to give up your cell phone.)

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