Tips for Full-Time MBA Students

MBA tipsA new MBA student has plenty on her plate: classes and projects, networking events, recruiting opportunities — not to mention the typical grad school challenges of making new friends and (for some) adjusting to a new city. Reader R wonders…

Hi there, I was wondering if there could be a post centered around starting a full-time business program? I’m moving in for orientation next week and would love to see a post (with reader comments) about how to balance schoolwork with social activities and career recruiting/networking, suggested reading (BusinessWeek and WSJ?), how to approach recruiting events with the major companies on campus, etc… Thanks!

I think this is a great question, so I reached out to a few MBAs I know, and asked the Corporette Facebook group for tips. I’ve always thought of the experience of getting a law degree very different than an MBA, if only because socializing and networking is such a big component of the MBA, compared with the mentality of “your GPA is everything” in the first semester or two of law school. Some good tips from friends, when asked about balance and reading recs:

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Law School, Orientation Outfits, and Dressing For You

Law School, Orientation Outfits, and Dressing For You | CorporetteHow should you dress for law school orientation? When you’re planning which outfits to wear, how much should you worry about looking professional, or put-together, or about making a good first impression? Reader N wonders…

I am extremely excited to be starting law school in the fall but I am puzzled by the idea of picking orientation outfits. Any suggestions?

Congratulations, Reader N! I still have such fond memories of law school, and we’ve covered a lot of things about it here, such as what to wear for mock trial competitions, which bag is best for law school casebooks, hornbooks, and of course your laptop. We’ve even talked about how — if you’re shopping for clothes before law school — your money may be best spent on interview and work attire. 2Ls, 3Ls, and recent grads: Anyone care to write a guest post on what bag is best these days, as well as any other tips or tricks for marrying the digital world with the study of law? For example: Did anyone like reading cases on Kindle or taking notes on an iPad (or, gah, an iPhone)?

ANYHOO: I’m sure I worried about which outfit to wear to orientation, but I couldn’t tell you what the heck I wore if my life depended on it. I was only two years out of college when I went to Georgetown, and honestly I don’t even think anything had occurred to me as not being “work-appropriate” (beyond a super short corduroy miniskirt that one of my older editor friends had pulled me aside and told me was not appropriate). Some of the older students had already formed conservative work wardrobes (particularly those who were coming from years on the Hill); others maybe just had a preppier style.

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What to Wear to an Alumni Lunch Event

Should You Wear a Suit to an Alumni Lunch? | CorporetteIf you’re planning to attend an alumni lunch for your law school — and you’ll be taking the opportunity to network there — how should you dress? Is wearing a suit a must in this situation? (Pictured, Boss Juicy 6 Jacket, $575 at Nordstrom — check out our full guide to women’s suits for more ideas.) Reader K wonders…

I am starting to network to look for a new job and have decided to attend my law school’s annual alumni lunch (I am a lawyer). It’s on a Friday in a hotel ballroom. Should I wear a suit or is a professional business dress (with sleeves) sufficient?

Interesting question, Reader K!  For my $.02, I would say SURE, wear a suit.  Why not? You have one, and you want to look professional.  If anyone at work asks why you’re in a suit, there’s nothing suspect about attending an alumni event — and at the event if anyone asks why you’re in a suit, you can just say you have another big meeting.  (I doubt they will — my guess is that 95% of people there will be in suits.  But I’m sure this depends on your geographic location, as well as your law school.) Particularly given the fact that this is a lunch — and the law school alumni lunch at that — I would say that a suit is the easiest, no-brainer answer here — throw it on and be done with it.  (Read some of our best business lunch tips here, as well as some of our thoughts on alumni networking here.)

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Tales from the Wallet: Refinancing Student Loans (Guest Post)

refinancing student loansHave you refinanced your student loans, or are you looking into it? We’ve talked about tackling huge school debt, paying down debt vs. saving, getting financially prepared for grad school, creating a money roadmap, and switching from a lawyer’s salary to a student lifestyle, but we haven’t discussed refinancing student loans. Today, Blonde Lawyer (the name she uses to comment on Corporette posts) shares her experience of refinancing with SoFi, one of a growing number of peer-to-peer lending companies (CommonBond is another) that offer student loan refinancing. The author is including a referral link of her own, but Kat / Corporette is not being compensated in any way for this post — it sounded like an interesting topic for readers to discuss, and hopefully this one reader’s experience will be a launchpad for discussion.  Thank you for writing this, Blonde Lawyer!  Here’s a recent WSJ article and a Reuters article for further reading on the topic. Update 2015: Blonde Lawyer has started a blog with more information.

I have noticed that a lot of Corporette readers are interested in potentially refinancing their student loans. I suggested to Kat that this would make a good “Tales from the Wallet” post and offered to write about my experience refinancing with SoFi. Hopefully there are other posters who refinanced with one of the other major players that can write about their experiences too.

So a little bit about me: I graduated law school in 2009. I went to an in-state school with in-state tuition. I paid my tuition 100% with Stafford loans ($59,500) and also took out living expense loans ($34,072) through a private loan company for a grand total of $93,572 in loans. After graduation, I was most worried about my $34,072 in private loans. My husband co-signed them and they were not dischargeable if I died or became disabled. The interest rate was a variable 8.61% with a 19% cap!!! I had one other issue with this company. I had selected a standard 10-year repayment for all my loans, but once the private loans entered repayment, the math wasn’t adding up to me.

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Tales from the Wallet: Financially Preparing for Grad School

financially preparing for grad schoolWe had a great discussion a few weeks ago about wedding finances, and now it’s time for the next post in our Money Milestone series:  grad school. We’ve talked about how to adjust your new student budget once you get to grad school, how to pay off student loans, how to juggle grad school and a full time job, and even whether you should get an MBA — but not this. Some of the best tips came from folks on the Corporette FB page and some of my personal FB friends, so a huge thank you to everyone! (Check out U.S. News & World Report’s Paying for Graduate School Guide for some additional advice.) (Pictured: J.Crew Factory Magic Wallet, $14.50.)

Before Grad School

  • Live like a student before you go. Keep your expenses down while you’re saving up — and create a new budget. This helps you save more, and also prevents culture shock once you have to dial back your lifestyle when you get to grad school.
  • Manage what you’ve already borrowed. Form a strategy to pay down your existing debt. In some cases you may even want to postpone applying to grad school until you have more of a handle on your finances and achieve a higher credit score (which can earn you lower interest rates). Consider deferring your undergraduate loans if it makes sense for your financial situation.
  • Make sure you know the numbers. In a recent post, Above the Law mentioned a new, “brutally honest” student loan calculator that shows you your future monthly payments in comparison to your expected salary after earning the degree.
  • See if your current employer offers tuition reimbursement. It may be slow going but you can pay for a grad school degree through this method alone!
  • Set up a 529 plan for yourself. While you’re saving, you get a deduction on your state taxes, and you can then use that account to pay for your grad school expenses. If you have money left over in the plan, you can roll it over into your kids’ plans. (Rules vary widely by state.) Resist the urge to raid your 401(k) for tuition costs.

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Alumni Mentoring and Networking: What Works, What Doesn’t

Alumni networking | CorporetteHave you found great mentors through alumni events? What is the best alumni event (or networking event in general) that you’ve ever attended? I attended a great Northwestern networking and mentoring event last week through an alumnae group I’m involved with, Council of 100, and in our small group sessions the topic got around to general networking events organized by the school — what NU was doing that was good, what it was doing that was bad, and so forth. To be honest, neither of my institutions — Northwestern and Georgetown — have really great alumni networking systems in place. Students reach out to alumni for informational interviews, but there is no established system (at least that I’m aware of) for students to discover alumni that may be off the beaten path (like, say, me). One of the great ideas I thought we came up with was to have an alumni database organized not just by company, but by favorite professor or class at the college — then you could look up people who were like you and see what paths their careers had taken.

Anyway, I’m curious, ladies — have you found mentors through alumni events? What is your school doing right (or wrong)? Are you involved in alumni events?

(Pictured: Board of Governors Dinner, May 2010-2, originally uploaded to Flickr by Alan C.)

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