Articles from Huffington Post

5 Awesome Benefits Millennials Gain From Their MBA...

Congratulations! You’ve earned your undergraduate degree and have started your very first job out of college. Those all-nighters have finally paid off. After receiving my B.A. in English and Political Science from The University of Texas at Austin, I decided to put my degree to good use and sell women’s shoes at Nordstrom for six months. I eventually went back for a Masters Degree and found out that a background in English can actually get you far in the startup world as a Content Marketer. But enough about me. The point I’m trying to make here is that college grads don’t always know what career path they wish to pursue straight out of college. If you aren’t going to law or medical school directly after your undergraduate studies, you are suddenly left with a variety of random options and job paths. This in mind, millennials today are recognizing the value of pursuing a higher degree of education. Of course, additional degrees aren’t necessary in order to be successful, but they can open a door of opportunities that otherwise would have remained closed. Consider an MBA, for example. Sure, there are many well-known entrepreneurs (i.e. Elon Musk, Mark Zuckerberg) who have remained “MBAless” and have had wildly successful careers. Unfortunately, not all of us have what it takes to be the next Mark Zuckerberg. Time for an MBA? Paul Ollinger, stand-up Comedian and Author of the new book, You Should Totally Get an MBA: A Comedian’s Guide to Top U.S. Business Schools, uses humor as a vehicle to provide business school applicants (of all ages) with great advice about what it takes to earn an MBA. After receiving his MBA from Dartmouth’s Tuck School of Business, Ollinger decided to write...

7 Money-saving Tips for MBA Students and New Grads...

In business school, you learn how a disciplined, strategic approach to finances helps organizations ultimately achieve great things. Along the way, it becomes important for you to apply that lesson to yourself. The years in business school and then working as a new MBA are, for many, a budget-conscious time. Between leaving your job to complete the degree and perhaps incurring student-loan debt to ease the financial burden, you may need to pinch some pennies before you reach your full earning potential as an MBA. Here are seven ways that soon-to-be and recently graduated MBAs can save money: 1. Make a budget with specific goals. For many people, making a budget is a chore, but not you — as an MBA, this is your bread and butter! Think of it as you would an assignment in business school: What does Company X (i.e., you) need to do in order to meet shareholder expectations (i.e., have enough money to pay all your bills while still enjoying life and generating some savings)? The more specific you can get about your spending allowances and savings goals the better. If you have trouble tracking your expenses and sticking to a budget, try using a free money-management app such as Mint. If you end up with money left over in your budget, consider investing in the future. There are many new companies that help automate this process and optimize your investments, such as Betterment. 2. Cut back on inessentials. In business school and then as a new MBA, you’re exposed to a lot of wealth. It can be tempting to want to join the party. But now is the time to buckle down and wait for the years when you have more disposable income....

Don’t Rush The MBA Decision: Not All Work Experience Is Created Equal...

We all know some things look good on paper but don’t always work in practice. And that sentiment should be taken into consideration when deciding if the time is right for an MBA. Just because you have the two years of experience that many of the world’s business schools require, doesn’t mean you are ready for an MBA. You should think more deeply about how to get the most out of your investment of time and money before applying to an MBA. We often see applicants rush this decision. At the Ivey Business School, we believe that a key question candidates should be asking themselves before applying to an MBA is: Does it make sense for me to get this degree right now? Here are some things to consider: 1.The admissions teams can help: The admissions team at Ivey is not in place to scrutinize or judge applicants. Instead, an important part of the team’s role is to ensure that you make the best decision possible, so you can get the most out of the program and contribute to the class community in a meaningful way. Where you are at in your own work journey before you arrive is a critical part of a successful outcome. Talk to us. We can help; 2.Quality over quantity: Be prepared to talk about the kind of work you have done. We are not interested in the length of time you have spent collecting a paycheque, but instead your ability to talk about the quality of work you have done. Tell us about the interactions you have experienced with internal or external clients and the projects you have contributed to moving forward. Bringing these kinds of experiences to formal classroom discussions is a...

How to Pay for Your MBA Program

Getting into a masters program for business is the first step in achieving your post-graduate education. However, finding out how you are going to pay for your Masters in Business Administration is integral in making the whole plan work. Here are the various costs associated with an MBA program and ideas on how you can affordably pay for it. Masters in Business Administration Costs: While calculating the costs of an MBA program, you should keep in mind that there are many additional costs other than tuition. To get an idea of the comprehensive costs associated with an MBA, factor in all of the costs listed below. Tuition & Fees Registration Fees Loan Fees Room & Board Books & Supplies Miscellaneous Cushion Keep in mind that many school related costs increase each year. A conservative approach is to estimate an increase of 5% in school tuition and fees each year. Other living expenses may increase as well, such as your rent or the price of gas. How to Pay for Your MBA program: There are several ways that you can pay for your MBA program and you’ll likely use all or some of the methods. The first thing every student should do is utilize as many scholarships and grants as possible. Next, you may be eligible for federal assistance for your school fees. You can cash flow a portion of the expenses if you continue to work and allocate some of your income for schooling. If you have money in savings set aside you can use that for school fees as well. Whatever balance is remaining after scholarships, grants, and personal contribution can be covered by student loans. Ways to Cut Back on Costs: One of the best ways to...

How I Paid Off My $90000 MBA in Less Than 2 Years...

arlier this year, Americans broke $1.2 trillion in student debt. The growing student debt load is causing widespread economic ramifications, delaying home purchases, and influencing spending habits, typically for a decade after finishing college. However, just because most graduates today are living with student debt for a large portion of their lives does not mean that you should. I made my last student loan payment 736 days after my graduation. That’s just a little more than two years. And I did it while earning a salary within $5,000 of the median income level in the United States ($51,371). Here’s how I did it. Start paying during school. The entire estimated cost of attendance for my MBA program at the University of Denver was $90,000– of which $67,000 was for tuition. Even for high earners, that is a lot of money to have on hand to pay for tuition and living expenses–so taking out some student loans was the inevitable choice. People told me that it would be impossible to work full-time and go to school full-time, but I didn’t find that to be true. I kept a full-time job in finance while going to school full-time, and I graduated with a 3.74/4.0 GPA. I had some savings going into school, but not enough to pay for everything as time went on. After I did some budgeting, I found that I could afford to pay around $7,000, roughly half of my tuition, each quarter out-of-pocket and get government-backed student loans for the remainder. By limiting my loans to Stafford loans, I knew I would be getting the best interest rate possible. And by paying what I could afford during school, I kept my total loan burden to less than $100,000…Read...

It’s Harder Than Ever for MBA Candidates to Succeed...

It’s the dream of every MBA candidate who registers to a prestigious MBA school. A coveted position in investment banking or consulting, with a salary only heard of in the movies. While this reality does occur for a small percentage of MBA candidates, the reality is far different since the overall economic and MBA dynamics have changed. These changes include: (1) Accreditation Creep: Merely having a degree is no longer sufficient enough to climb the economic ladder. With an increasingly global workforce and the changing nature of work, today’s employees need to be more educated, adaptable and competitive. (2) Growing Number of MBA Programs: With the success of the first MBA programs starting in the early 20th century, there has been the inevitable global growth of them. Today, nearly every post-secondary institution has a MBA program due to increased tuition revenues and gaining greater prestige. (3) Growing MBA Supply: With the growth in the number of MBA programs, there has also been a corresponding growth in MBA graduates. This has led to a corresponding imbalance between the demand for MBA jobs and the number of MBA graduates. It is not only the economics of the MBA that have changed but also the economics of business. These changes include: (1) Growing Supply: As a result of the latest recession, there has been a growing supply of qualified candidates competing against freshly minted MBA graduates. Given the choice between a seasoned business candidate with practical work experience versus a newly graduated MBA candidate, businesses are more likely to prefer the seasoned business candidate. (2) International Competition: As the economy continues to globalize, so does its labor force. With a growing number of international subsidiaries, corporations are finding that qualified MBA graduates...