The MBA: To do or not to do in this economy

It's been on a mind for quite some time now and at first, I hesitated to post anything about the inevitable shadows of doubt that linger in my head regarding my MBA in the midst of a horrid economic downturn, but today, I just couldn't resist after reading Stacy Blackman's post on BNET regarding the arrogance of MBA degree holders and questionable viability of the three letters during this moment in time. The post hit close to home and I had to share my ponderings with you. The other week, I calculated my monetary investments (thus far) in my quest for an MBA and here's what I came up with:

1. MGMAT Prep Course: $1390
2. Estimated Travel Expense to MGMAT/Info Sessions: $475
3. GMAT Exam: $250
4. Bschool Application Fees: $1075

GRAND Total: $3190...yowsers!

I guess this is why most of my friends are not getting MBAs anytime in the near future. Already, the financial investment towards an MBA is a huge hurdle for many of us who work in the education/nonprofit sector, and this is not even calculating the mental fatigue of sleepless nights, stressing, worrying before, during and after the application process. If accepted, I have to submit a deposit and so forth. The potential MBA bill is scary to say the least but even as I type this post, I know that investing in myself is the best and most secure financial decision I will ever make in my life. I hope that once I achieve my own dreams, I can enable those of others who find themselves in a similar situation. I can't help but wonder how many people whose dreams are stunted because of the immense financial obligations they must take care of (mortgage, flood insurance (just got my letter to renew), car payments, food, the list goes on). I am fortunate that somehow my hubby and I have managed to weather the storm and stay afloat even as friends around us are facing foreclosures and bankruptcies (I know, crazy, right?).

Even more, I am thankful that I am chronicling my journey in this blog. Many moons from now when I look back, it will be meaningful to remember all the little steps I had to take (and countless sacrifices my hubby has had to make) for me to realize my MBA aspirations. So, I say: Yes, the dismal economy does take its toll on me, but does it deter me from my original goals? No way, dude! It only makes me that much more determined to go after them. I believe that it is especially during moments such as these, there is so much room for MBAs to do great things with their knowledge and resources. I can't wait to be one of them.

Seattle Here I Come!

As promised, I've signed up to run the inaugural Seattle half marathon in June..yay! I'm so psyched! This is going to be my fourth one and hopefully, I can focus more on increasing my pace this time around. It is yet another reason for me to keep my fitness goals alive and well as I kick off the beginning of 2009. I know this year will bring many more new beginnings for me and I can't tell you how juiced I am about all of it. If you had asked me two years ago where I saw myself, I certainly wouldn't have been trying to complete my fourth half. BTW, if any of you considering joining me in Seattle, I do have a coupon code to get $10 off the current reg fee of $85. Just leave a message and I'll send it your way!

Whoo hoo! I can't wait to sink my teeth and my soles into the likes of Seattle. I've always been enamored with the birthplace of Starbucks and the home of the Space Needle...now I get to experience it myself. I'll have to catch some Foodnetwork and Travel channel shows to find the best places to dine on the freshest seafood--wowie! I can't wait! This is certainly going to keep me nice and occupied as I wait in limbo to hear back from my prospective Bschools...thank goodness!

My First Interview Invite...yay!

After feeling the post-MBA application blues for a few weeks, I was met with some great news in my inbox today at exactly 10:59AM PST...my very first interview invitation from the UC Davis GSM. I have to admit it caught be my surprise seeing that Davis was the last application I submitted, but I was elated nonetheless. I read the invite at around noon and when I tried to sign up for an interview, I was surprised to see that over half of the slots were already filled...geesh...aspiring MBAs are on top of their S3*! Anyhow, I signed up for mine a month from today, so it'll give me ample time to prepare. The cool thing is that they let you do a 5-7 min presentation on any topic you want, so for me, that's really nice...more room to shine!

I'm particularly drawn to the UC Davis MBA for a few good reasons. One being that a very good friend of mine has already gone through it and loved her experience. Secondly, the program prides itself on its intimate and collaborative team environment..both wonderful attributes of any great program. After I attended their Preview Day, I received a freshly signed letter from the Director..yep, it was real ink! I'm not sure how many people actually sign their own letters nowadays, but to me, it's a sign that people care about their prospective students and that earns extra brownie points in my book;) Thirdly, the GSM offers the program of study that I wish to pursue, Social Entrepreneurship...I looked it up and they have professors who actually teach the subject matter and are renowned experts in the field. Other reasons why I know the GSM would be a great fit for me is that I can do it part-time, thereby relinquishing my fear that a volatile economic downturn may leave me worried should I need to quit my job--I would be able to have my cake and eat it too (and I love cake)! And on a final note, Forbes did rank the part-time program as 16th in the nation, which is pretty awesome since I think since there's so many random ones out there these days. I get a whole slew of internet MBA thingies in the mail which I simply think is a bunch of crap. It seems that ever since I took the GMAT, I've been getting a ton of 'em. Oh wells..options are always nice I suppose. In the meantime, I'll continue to cross my fingers for more good news and grab some nice gifts for my wonderful recommenders.

The agony of waiting + other ramblings

Earlier this week, I submitted my Columbia application...finally! Since Columbia is the only bschool with rolling deadlines, I figured I can apply to it last and still find out of my admission status in April. I have to admit that it does get easier to click the 'submit' button the 4th time around, but the waiting game has me on pins and needles. I wake up each morning and before even jumping out of bed, I roll over and grab my iphone to check my email, each time hoping I can stumble on some good news.

I checked out the HBS Director's blog and found out they'll be releasing interview invites starting February 9, so I am keeping my toes and fingers crossed for the best of luck. Yesterday, I popped in a Season 2 episode of 'Ghost Whisperer' and there was a scene in which Melinda Gordon's new friend, the professor, was talking about how envisioning what you really want will coerce it to come true. Wishful thinking, I suppose, but I couldn't help but imagine checking my email on Feb 9 and seeing that one of them was from the HBS adcom.

I feel like I'm a high school senior all over again...ugh! But to help keep my worries at bay, I've gotten back into my normal fitness routine: spinning, kickboxing and body pump (intense weight lifting) classes..yay! I feel so powerful after working up a sweat for 2 hours. Last weekend, I went running along the San Francisco marina and the experience totally reinvigorated my fitness ambitions. I can't tell you how much i love the ocean. It is honestly the cheapest and most fulfilling form of therapy you can ever get. I don't get why people pay mad bucks just to sit in a confined space with a shrink dissecting your innermost thoughts. If you want to get in touch with your inner self and seek some kind of meaning to your chaotic lifestyle, just wander to the ocean..the tranquility of this space encapsulates and transports your mind and body to a place of total relaxation. Wow..did I just sound like an infomercial or what?

Haha..anyways, I also found myself craving oysters for some reason. My hubby and I plus a couple awesome friends found ourselves at the Hog Island Oyster Farm in the midst of pouring rain. It was so funny because during the entire drive to the farm, we were getting so hot b/c it the sun was beaming down on us. By the time we got to the Tomales Bay area, the dark brooding clouds were looming overhead and we were pelted by giant rain drops once we got to the oysters. But we were troopers who came prepared with 2 jumbo-sized umbrellas and we started a bbq pit right there in the middle of the rain! I was impressed! I was shucking away left and right, while gorging myself with nature's mother of pearls: Kumamotos and Hog Island's best, extra small Sweetwaters. If you haven't had fresh oysters, you haven't lived! It tastes just like the ocean; that's when you know it's the good stuff and with just a sprinkle of Tabasco sauce and fresh lemon..Yum--heaven on a half shell! You should also never eat oysters that smell fishy or look murky, even if the waiter tells you that's the way they eat them. I had this experience happen during a visit to South Beach last year and I wasn't having it. You can't mask funky oysters. In any case, I told myself that should I find my happy butt in Canada some day, I'm visiting Prince Edward Island to get my hands on them juicy Canadian cup oysters and oh-so-slobberlicious mussels they got up there. As you can probably tell, I'm a foodie in every sense of the word. What can I say...I live to eat!

Welcoming our 44th President: Barack Obama..how great art thee

Tokens of inspiration I collected from Obama's Inaugural Speech:

"...a nation cannot prosper long when it favors only the prosperous."

"With hope and virtue, let us brave once more the icy currents, and endure what storms may come. Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations."

Halfway Mark Reflection

I have now submitted 3 of my anticipated 6 bschool applications, and since I can't sleep tonight, I'll take some time out to reflect since I think it may help others who either will be submitting their apps or plan to apply in the future.

First off, hats off to Clear Admit for their insightful essay analyses. I highly recommend pasting them into your word doc for each school you're applying to and then doing a complete outline of your answer to each question segment. It's very important to make sure that you answer EVERY portion that is being asked.

Secondly, free write and try not to worry about the word count just yet. Although I did find that one of the most challenging parts when condensing my large essays. However, take it as a bschool lesson in the art of effective, yet concise communication skills.

All in all, I am happy to report that as I clicked the 'submit' button for each school, I was really content with my work. I believe it is an honest portrait of who I am and the values that I hold dear. I poured my heart into them and I know that whatever happens, I can honestly say I was genuine in my responses and if that's not good enough, then there is something else out there for me. Dreaming the dream for bschool was great, but actually going through the process has shown me that I do have the courage of conviction to make my dreams happen. It has been an amazing journey thus far and although I have 3 more apps to conquer, I am confident that 'it's gonna be all good!'

Harvard:
It's all about the L word..yup, leadership! And luckily for me, it has been my defining feature. As I reflected on my life experiences, I realized the unifying thread for me has been the element of leadership, which is why I chose to apply to HBS. I don't believe it's about the number of people you supervise, but the lessons that you learned from those experiences are what you should reflect on.

I had a lot of fun writing Essay 1 on my accomplishments because it really made me think long and hard about what gave meaning to my life. From there, I was able to settle upon 3 of the ones that I believe really impacted me. However, this was not the case for Essay 2 on making a mistake. I often found myself stepping away from my computer and then wake up in the middle of the night with my 'A-HA! moment where I'd have to put a note in my iphone about what sparked my train of thought just so I wouldn't forget it when I woke up. In the end, I did end up with what I feel is an honest mistake example and what I did to strengthen myself as a result of it.

Stanford GSB:
First of all, read the director's insights on how to write an effective essay. It really helped me articulate my thoughts as if I were speaking with a good friend rather than an adcom. I absolutely HEART the Essay 1 on speaking about my values. I think it was the easiest essay to write because it was really personal and the word limit was pretty generous at 750. The best approach to this is jot down several things that are important to you. From there, find the linkage between each one by writing down key words/phrases that define those experiences. It's like connecting the dots. You should see a pattern and yes, my friend, that pattern is your set of values. I know everyone has one, and I sincerely believe that if you live life guided by these principles, you will have no problem relaying this info to the Stanford adcom.

NYU Stern:
Halfway through my essays, I had second thoughts about what really made Stern stand out in my mind besides the fact that it was in NYC. Obviously, everyone is going to write about the NY advantage. In any case, Essay 2 was be far the most difficult because the question subsets initially seem so unrelated. I had already completed 3/4 of my essays when I realized I needed to take a mental break and step back to see what really made Stern click in my mind. I had hoped to submit my essay on the Saturday and then start packing for my cruise but then I realized I didn't have my best essays yet. When I read my Essay 2, it seemed so fake...ugh! I hated it! Why did I try to sound like somebody else? I thought it was weird, especially since I had already completed 2 applications before Stern. What makes Stern unique is the question it poses. Stern wants to know why exactly you want Stern and this made me realize why I had such a hard time. Well, I remember vividly a particular interview experience at a school that will not unnamed when the interviewer specifically asked me exactly what about me made me right for the job. Seems simple enough, right, but I realized that at that moment, I honestly didn't know. Yes, this is so not the best way to go into an interview. Needless to say I didn't get the job and I know my response to that question had a lot to do with it. If I don't know why I want Stern, why the hell would Stern want me right?

So, the time is ticking away and I just told myself I'll sleep on it and take my work with me on the cruise, but hopefully the answer would come overnight and I wouldn't need to. I think Somebody heard me up there and I woke up from my nap re-energized to tackle the question once more. This time, my thoughts flowed effortlessly through my fingertips onto my laptop. Before I knew it, I had the application completed and ready to be submitted. It was a true moment of revelation and elation. Now, off to Mexico baby! Adios!

More than Money...indeed!

Just thought I'd share a little bit about my journey so far. I was able to submit my Harvard & Stanford apps and am feverishly completing my Stern app as we speak, but it's been an incredibly amazing experience to say the least. I've learned so much about myself than I had originally imagined and I know that wherever my lucky stars take me, I am living life with a sense of purpose.

Today, I was able to wake up bright and early to attend the MBA Preview Day at the UC Davis GSM. Some of you are probably wondering why I've decided to consider this particular bschool, but first up, I was inspired by a special somebody who went through the program and had such awesome things to say about it that I just couldn't pass up the opportunity to indulge my curiosity. As it happens, they have a small, but wonderfully active Net Impact org whose members are so down to earth and genuine. I was fortunate to meet both of the co-presidents today during my time on campus and they were very supportive of my decision. So, I'm not sure how many of you bloggers out there know, but Net Impact is this national network of bschool students who have the passion to use their MBA to create social value. Yes, MBAs do have a moral code of ethics, contrary to what the incidents on Wall Street may lead you to believe. In any case, last week, the founder of Net Impact, Mark Albion, came to the Davis GSM to speak to their students and I thought, "WOW...how cool is that!" Every year, top bschools from around the U.S. send their best and brightest to attend the Net Impact Conference; this year, it was held at Wharton and next year will be at Cornell! If I should be so lucky, I would like to count myself in the group of attendees. We'll just have to wait and see. In any case, Albion also wrote a really neat book, More than Money, and from what I hear, it's going to be on my books to read for 2009 list for sure!

I think that regardless of where your MBA dreams will take you, it's important to nurture your values and incorporate them in your path to success. If it's anything we learned from Wall Street's plummet it is this: There are always going to be difficult choices you'll have to make and unfortunately, those of us who are not guided by our own moral compass will make poor decisions that will ultimately cost us in the end. For the rest of you who know why you want an MBA and what you hope to do with it, I hope that you do it with a sense of compassion and humanity and that you won't become the dreaded 'one of them' because if that's what really what your life is all about, then my friend, you have some serious rethinking to do. Maybe this is why I love Essays 1 for Stanford so much: What do you value and WHY? As I penned my words, I realized that I am quite fortunate to be doing a job that speaks deeply to my values. I cannot tell you how many times I've heard people complain about their jobs and how they hate it. What does this mean essentially? In my book, this means you need to start thinking about who you are and what matters to you. If you can find the answer, then start living your life to reflect those ideals.

So, check out the video and let me know if what Albion says resonates with you...it already has for me.