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.)

[Read more…]

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. 

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.

[Read more…]

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.

[Read more…]

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.)

—————

N.B. PLEASE KEEP YOUR COMMENTS ON TOPIC; threadjacks will be deleted at our sole discretion and convenience. These substantive posts are intended to be a source of community comment on a particular topic, which readers can browse through without having to sift out a lot of unrelated comments. And so, although of course I highly value all comments by my readers, I’m going ask you to please respect some boundaries on substantive posts like this one. Thank you for your understanding!

Summer Associate Series: Ending an Internship Positively

How to End Your Internship Gracefully | CorporetteHow can you end an internship positively?  This week in our Summer Associate Series,* as the summer starts to wind down (for some, at least!), I thought we’d take a look back at some of our best posts on how to wrap up your summers, whether they be as summer associates or interns.  (If you do still have a few weeks of work left, though, you may want to check out our post on how to get the work you want, and how to network when you’re at the bottom of the ladder.)

Readers, what are your best tips for interns on how to end on a strong note?  How important is the home stretch in terms of making an impression?

(*Name aside, we hope this series will be helpful to ANY intern, whether you’re a law student or another woman interning in a conservative office for the summer.)  Check out our previous posts on general summer associate style, what to wear for the creative summer associate events, general business etiquette tips, and business lunch etiquette tips.

[Read more…]

Tales from the Wallet: Should You Get an MBA?

should you get an MBAShould you get an MBA? If you’ve ever pondered getting your MBA but wondered if it was worth the investment of time and money, today’s guest post is for you. We’ve talked about how to prepare your finances for grad school, as well as the pros and cons of changing careers, but we truly haven’t talked about this — so I’m thrilled to welcome the personal finance blogger behind Well Heeled Blog, a young woman who just finished her MBA. Welcome to Corporette! – Kat.  (Pictured: Ted Baker London ‘Neon’ Leather Card Wallet, $55 at Nordstrom.)

I recently graduated from a 2-year, full-time MBA program at one of the “15 schools that make up the Top 10 MBA.” I once heard a dean use that phrase and think it’s a humorously apt way to describe the way schools jockey for that much-vaunted “top 10.” designation.

Once you include the money I spent out of pocket and the opportunity cost of two years of foregone earnings and benefits (minus the living expenses I would have had to spend, MBA or not), this degree cost me at least $250,000. That’s enough for a house in many parts of the country, and a hefty down payment in even the priciest areas such as San Francisco or New York City.

Was my MBA worth it? I’m a long-time Corporette reader and occasional commenter, and I’ve seen several questions on MBAs and finances. The decision to pursue an MBA isn’t solely about the ROI in dollars and cents–there are plenty of non-financial benefits such as a grounding in business education, a wider and deeper network, and the opportunity to devote two years to furthering your professional and personal growth. Still, the fact remains that an MBA is an expensive proposition for most people, and this proposition can expand your career horizon while at the same time limiting your future financial choices. Here are my thoughts about the financial implications of an MBA now that I have completed my degree–what I would (and have) told friends who are thinking about pursuing an MBA, especially through a full-time program:

[Read more…]