One down… one to go

Almost nothing can match the glee of turning in the last exam before summer break… until you’ve been hit with a horrible cold that keeps you bed-ridden for the first days of summer! Indeed, by the time I scoped out the problems on the Advanced Corporate Finance final I was already nursing a sore throat, which only persisted through the test and into the summer celebrations. Sometimes grad school simply takes its toll. Thankfully I still had the opportunity to attend an optional field trip to San Antonio with students from my Urban Management class, a trip I had been looking forward to for weeks. In San Antonio we joined a City Council session, toured a newly developed campus that serves as a rehabilitation center for the homeless called Haven for Hope, and met Mayor Julian Castro. Mayor Castro is the youngest mayor in the United States (age 35) to preside over a Top 50 American city – definitely a politician to keep an eye on. The Mayor was very friendly and down-to-earth – we got to watch him in action at a press conference, which also reminded me of the power of good public speaking (something to keep working on in grad school). For those like me who are relatively new to Texas, San Antonio is 80 miles (hour and half) southwest of Austin, and makes for a good day trip if you can break away from Austin’s never-ending events and festivities.

Fall: UT football

Fall: UT football

And now, over a week since my last exam, I’m savoring the two weeks of my free time in Austin. Between the restaurants, taco stands, Lake Travis and Barton Springs I know the time will fly. I also need to figure out where I’ll be living next year, move my furniture and transfer all of my bills. But after surviving first semester (McCombs Core), a simple move within Austin won’t phase me!

 

While I’m only halfway through b-school, I thought I would share some of the facets of the MBA experience that took me by surprise. First: 1st-year Core is an intense experience, especially for those of us who are new to business school course work. The Core is composed of four, accelerated classes each quarter, which means by the end of first semester we’ve taken 8 finals, with several case studies, homework assignments and quizzes in between. I talked to several friends who needed at least a month to catch up on sleep after our winter finals. The Core classes are graded on a strict curve in which the bottom of the class (5-10%), guaranteed, will receive a C. While some b-schools have non-grade disclosure, McCombs does not, so one’s GPA is sometimes used as part of the evaluation criteria for on-campus recruiting. While there is a great amount of collaboration within the student body, in the end you’re competing directly against an incredibly bright, talented and experienced group of people on a regular basis.

Winter: Video conference simulation at Cisco, San Francisco Trek

Winter: Video conference simulation at Cisco, San Francisco Trek

 

Second: rejection is a normal part of the business school experience. There are countless ways to be involved at McCombs, but one must be elected or selected to serve as a club officer, become a Venture Fellow, Marketing Fellow, serve on MAC, serve on the Investment Fund, and so-on. Further, on-campus recruiting starts at the beginning of second semester, where many of the world’s top corporations swing through to check out the McCombs talent pool. Depending on one’s level of risk taking, rejection is bound to come in one form or another over these months. This is normal – even for the Super Stars of the MBA program.

Spring: Class of 2011 Consulting Group Officers, Preview Weekend

Spring: Consulting Group Officers, Preview Weekend

 

As for this summer… I’ll soon be leaving Austin to spend two months in San Francisco, where I’ll be interning for Arup, an international design/consulting firm. I’m incredibly excited for this internship. Arup is similar to the company I worked for before business school, but I’ll now have the opportunity to work less in marketing, and more on the consulting, project-side of the business. I’ll be working on project finance for three projects – two of the projects are local infrastructure works with the City, and another project is related to the use of venture capital to fund sustainable, urban projects. While I did my fair share of on-campus recruiting, this internship was actually arranged through some off-campus networking, as well as good timing and a stroke of good luck. I’ll be living at home (in San Francisco) which is also a huge relief in terms of moving expenses and rent – it’s been almost ten years since I’ve lived back in the Bay Area! Goodbye frozen dinners, hello dim sum.

 

Anyday: Migas, love everlasting

Any day: Migas, love everlasting

Overall I feel that I’m leaving for the summer with a very much improved set of skills than when I first sat down at orientation. I owe this completely to the quality of the McCombs MBA program, and of course, a lot of hard work! And, just as a blog post is only as good as its pictures, I’m following Kalin and Ryan’s example and posting some favorites from over the year.

Incredible India

As the 15-hour flight from Delhi to Chicago draws to a close, I’m finding it quite difficult to summarize my spring break experience in India in only a few paragraphs. Over the last two weeks I’ve had the opportunity to meet the CEO of a prominent  Indian low-cost airline, pose questions to an official who serves in India’s Parliament, float down the Backwaters of Kerala in a houseboat, and spot giant squirrels leaping from tree to tree in the jungles of the Periyar Nature Reserve. These once-in-a-lifetime experiences were made possible through the McCombs Global Connections-India.


When we started bidding for spring classes last fall, rumor had it that the India trip, led by Professor John Doggett, would be one of the most popular global trips and immediately close out to first years. Nevertheless I bid nearly all of my 900 points to enter the course and was surprised and excited to find out that I had indeed secured a spot after the first round of bidding. McCombs offers Global Connections trips to different countries every spring, but the trip to India had not been offered since 2004. In my previous line of work I had exposure to India’s booming aviation economy, and became fascinated by the country’s growth and the tremendous number of business opportunities. When the trip locations were announced, I knew I could not pass up the opportunity to travel to India.

In two weeks time our itinerary led us through New Delhi, Agra, Mumbai and Bangalore, where, in addition to visiting sites such as the Taj Mahal, Lotus Temple and Gateway of India, we’ve had fantastic company visits with the CEO of Indigo Airlines, the Head of Corporate Planning at Infosys and Anand Mahindra of Mahindra & Mahindra. Towards the end of the trip we had inspiring and eye-opening conversations with the social entrepreneurs of India-based companies Palindrome and mDhil, as well as the founder of an Ashoka-awarded NGO, Amba CEEIC. A common theme amongst all of the visits and conversations was the amount of talent behind these business operations, and meanwhile the amount of persistence needed to thrive as an Indian business. As one person put it, we have to make businesses work despite the government; not only must these business survive in the competitive global climate, but must also overcome the severe bureaucracy and limitations imposed by the government.

So what were some of the surprises of the trip? Two big unexpected events happened almost simultaneously. After boarding a very early morning train from Delhi to Agra (Agra is the site of the Taj Mahal) someone flipping through the Hindustan Times noticed that McCombs had received an honorable mention from our visit the night before: US students keen to learn about Indian economy. Not only this, but (somehow) the local journalist quoted me in the paper. I don’t remember speaking directly to a journalist at any point, but it’s possible that they took my name from a list of questions we had all prepared for the government official. Nevertheless, I think it’s safe to say that I’m famous in India. In the midst of making the exciting discovery of the newspaper article, our train began to slow down and almost immediately came to a halt. After smelling smoke, we realized that the train was on fire! (And by train I mean our car specifically.) The car began to smell like a very toxic chemical and we saw thick smoke coming from the back window. In a panic we all lined up to evacuate the car… but, despite the smoke we were told to sit back down. It turns out that the breaks to our car had locked while the train was in motion, causing a fire on the outside. The staff of the train was able to contain the fire, unlock the breaks and within 20 minutes we were rolling down the tracks on the way to Agra again.

As with all Global Connections courses, a couple days are left free to allow students the chance for open-travel. For this part of the trip three friends and I traveled to Kerala, a state on the southwest point of India. For the first 24 hours we rented a houseboat and explored a chain of lagoons and lakes called the Backwaters. We didn’t have any crocodile sightings but we did enjoy some huge, bbq’d crawfish. For the next couple of days we stayed on a coffee plantation close to the Periyar Nature Reserve, where we had a chance to hike, relax and enjoy South Indian food. It was great to take some time outside the hustle and bustle of a huge city and see a different part of the country.

Throughout my time in India I was taken aback by the friendliness and hospitality of its people, inside and outside of the cities. India is a place where one could easily spend several months traveling, and I think many of us longed for more time to travel there! I am so thankful to have had the opportunity to visit, and will someday return to INCREDIBLE INDIA!

A different side of Austin

Sirens blaring, last Saturday night I found myself in the front seat of a police car speeding down S Congress Ave at 80 mph. Luckily, it’s not that I was arrested. For several hours on Saturday night I rode along with an Austin Police Officer to complete an assignment for my Urban Management class. The class is an elective through the Texas’ Lyndon B. Johnson School of Public Affairs and is taught by Sheryl Scully, the Chief Manager of the City of San Antonio.

On the night of my assignment I had the pleasure of riding with Officer Vance, who has been with the Austin Police Department for three years. Officer Vance prefers to work the 10-hour night shift, which starts at 8:30 pm. He first introduced me to the various technologies of the police car – many of which are pretty fantastic. The car is equipped with a Panasonic Toughbook, which gives officers up-to-the-minute information on emergency calls, GPS, access to background checks, etc. Apparently radios are a thing of the past. The car is also equipped with a video camera that tapes what is going on in front of the car. When the officer steps out of the car the passenger can turn up the volume of the camera, and hear every word of the conversation occurring outside from within the police car.

Officer Vance documents the car accident.

Officer Vance, as well as the majority of the APD, wear bullet-proof vests. (I was tempted to ask for a bullet-proof vest, but thought this might be overkill. Nor did I ask for a gun.) He explained that the vests get uncomfortable in the summer months, but that most officers use Cool Cops “Body Armor Air Conditioning,” quite a simple but useful invention created by a police officer.

So, what happens on the streets of Austin late at night and into the early morning? Here’s a quick recap:

9:05 p.m. – Urgent crash: we rush to the scene of a car accident. The EMS is already attending to the victims of the accident and pulling someone out of the back seat on a stretcher. Luckily no one else is hurt, and we stay on the scene until the cars are towed. I notice that the firefighters are covering the pavement with a gray dust – turns out that kitty litter absorbs oil on the street better than anything else.

10:05 p.m. – Traffic violation: a woman driving a white jeep runs a red light into a major intersection, right in front of us! We pull her over in the parking lot of a Mini Mart. She is frantic and explains that she made a mistake. As Officer Vance is in the process of checking her license he mentions that he smells marijuana…

10:10 p.m. – Drugs in public: in the same Mini Mart, a young woman and man are pulling out of their parking space. Officer Vance notices that the young man has a marijuana joint behind his ear. Given this probable cause, he stops the car and searches both passengers. He uncovers $2,500 cash in the passenger’s pocket. No other drugs are found on the scene. Officer Vance finds out that the young man has warrants out for his arrest. The young man is taken to jail, the cash is returned to the woman driver and she is permitted to leave.

10:51 p.m. – Burglary alarm: no evidence of foul play on the scene.

11:29 p.m. – Domestic violence: Officer Vance receives an URGENT call and must rush to a apartment complex. We fly down S Congress at approximately 80 mph. It is surprising how many drivers do not pull to the side of the road. Austinites: if a police car approaches with sirens blaring, you are expected to pull over, to the right, and let them pass! We arrive on the scene and Officer Vance must sprint to the area, where a young man is in the process of being handcuffed and refusing arrest. The officers are able to detain him and put him in the car.

11:44 p.m. – Burglary: a woman reports that men are tampering with her car and front door. Officer Vance inspects the house and yard, and everything appears safe. The woman explains that she has run out of her anti-anxiety medication.

It's 1 a.m. - I'm heading home!

It's 1 a.m. - I'm heading home!

12:00 a.m. – Burglary: we return to the same house. By this time the woman’s father has arrived to stay with her and make sure that she does not make additional 911 calls.

Officer Vance explained that this was a slow night – I beg to differ, but hopefully this gives you the idea of the everyday duties of an Austin Police Officer. Ride-Alongs are open to the public, so if you’re interested in experiencing the life of a police officer, the opportunity is out there.

Dallas Consulting Trek

On a clear, sunny Friday in mid-November, a group of 35 MBA students descended upon the unsuspecting city of Dallas, Texas. We arrived by car and by plane, dressed in suits, ties or skirts and crashed with family, friends or at bargain hotels. Our mission: to visit and network with four management consulting firms before close of business. It was the Dallas Consulting Trek, and it was a success!

Can you find bloggers Dirk, Kevin or me?

Can you find bloggers Dirk, Kevin or me?

McCombs has various industry treks throughout the year. Students generally arrange their own accommodations and transportation to/from the city – otherwise the treks are organized by the Career Services Center, who contact and arrange visits with (typically) Fortune 500 companies. Earlier this year Ryan led the Wall Street Trek in NYC. Around the same time a group of marketing students flew to Chicago to visit CPG (consumer packaged goods) companies. Over winter break we’ll have a trek to San Francisco to visit various technology/financial firms. The treks are meant to give students the opportunity to learn more about the industries in which they are interested and to visit new cities.

Directly after class on Thursday a friend and I hit the road for Dallas. The drive from Austin is roughly three hours, and we arrived just in time to grab Vietnamese food before the first event, a happy hour sponsored by Price Waterhouse Coopers. (PwC has a consulting branch for the industries to which it provides tax/audit services.) While we have a relatively small MBA program (265 students in the class of 2011), McCombs alumni include MBAs and BBAs, making it a pretty extensive network. At the PwC event we had the opportunity to chat with a former McCombs MBA and BBA who now work for PwC. The live swans (apparently the trademark of the of the Embassy Suites Hotels) swimming in the indoor hotel pond provided an interesting backdrop!

The management consulting firm lineup for Friday included A.T. Kearney, Booz Inc., Deloitte Consulting and Bain & Co. Each firm provided a brief presentation, Q&A sessions, a chance to mingle and, last but not least, snacks. The trek was a great way for us who are interested in a particular firm, or even the industry, to get a feel for the company culture and if we can actually picture ourselves working there. By meeting with the firms we also have the chance to learn about the firms’ current developments and projects – knowledge which is great to discuss during an interview. As the sun started to set on Friday we were just entering the doors of the last company. And I must give credit to my fellow MBAs, who, despite the long day, maintained great level of energy and enthusiastically asked questions until the very end. For those interested in a certain industry I recommend participating in at least one trek – it’s a great way to get involved in company research and the job search.

Careers in Energy

While we have a wide range of career interests represented on the blog, I wanted to speak to an area that hasn’t yet come up but is very prevalent at McCombs – energy finance and clean technology. The energy crew in particular includes some of the most active and passionate students in the program. For this entry I’ll dive into what McCombs has offers in terms of careers in energy – if this is of interest to you, read-on. If not, ABORT!

Texas was recently ranked as the #2 cleantech state because of the large amount of venture capital invested in wind farm technology. With a large number of oil and gas companies headquartered in Houston, Houston is considered as the energy capital of the world. Austin is home to the nation’s first Green Energy Incubator, which facilities growth of young clean energy companies.

So, what is considered a niche at other MBA programs is very central at McCombs. The program offers a concentration in both energy finance and clean technology. The concentrations overlap with the energy-focused financial strategies class; otherwise students in energy finance focus on traditional finance and accounting methods, while the clean tech students take classes related to renewable energy, energy efficiency and emissions.  Clean tech classes are offered through the B-school and also the School of Public Policy, Law and Environmental Science.

Academics are just the beginning. Officer elections for the Clean Tech Group and Energy Finance Group are some of the most intense and competitive elections among the student org.’s. Participation in a PLUS project is a great way for students to get hands-on experience in the energy industry: this semester we had multiple projects in renewable energy products, solar power, and carbon capture for firms like McKinsey & Company, HelioVolt and Parasol Renewable Energy. If that’s not enough, the Energy Finance Group holds their annual Energy Finance Case Challenge over several days in September.

While the list changes every year, oil and gas companies such as Shell, ExxonMobil, BP, Chevron and ConocoPhillips regularly recruit at McCombs. Last summer, students from the class of 2011 also interned at companies such as MI Energy, Horizon Wind Energy, Venti Energy, and the Austin Technology Incubator. The government’s effort to subsidize new technologies might also promote investment, and, hopefully more jobs for students in the long-run. So, if you’re interested in learning more about the energy industry as an MBA, or considering the program to pursue a career in this field, there’s a lot to be excited about at McCombs!

Those minor life changes

McCombs draws students from not just all over the United States, but from all over the world. And while 30% of our class is made up of Texas residents, the majority of these Texans have moved from Dallas or Houston. Overall it’s safe to say that we’ve made some pretty major life changes to be at McCombs: not only have we relocated, we’ve left our jobs (and consistent paychecks), sometimes our families, and, in my case, all of my furniture.  At least a third of our MBA class is married, and in most cases the wives and husbands of the Texas MBAs have made some major sacrifices to accompany their spouse to Austin.

While most of these major life changes are obvious, I’ve started to notice some amusing, minor life-style changes within the MBA circle. So, I did a quick survey of my McCombs friends: what do you do differently, or what happens now that never would have happened in your pre-MBA life? Hopefully the results give you, the reader, a glimpse into the exciting lives of us Texas MBAs:

How to spot an MBA student

How to spot an MBA student

- Eating microwave rice for dinner (unfortunately cooking is a thing of the past) and the return of the frozen meal

- Bringing my Texas MBA backpack — loaded with books and binders — to a bar (no time to go home between class/meetings)

- Wearing cowboy boots to a football game

- Loading a lunch box with everything and anything available in the kitchen to sustain myself for hours on campus

- Digging through my closet for anything in Texas burnt orange and realizing I can’t get enough of it

- Working myself into a panic at the beginning of class as I search through my backpack for either my name tag or financial calculator

- Avoiding household chores and cleaning for quarters at a time

- Spending hours online shopping for text books, trying to find a balance between price, new or used condition and shipping arrival dates

- Riding my bike 35 miles in the summer heat to eat in barbecue in Lockhart, the barbecue capitol of Texas (and then riding back to Austin on a full stomach)

- Buying a reusable coffee mug to mitigate the paper waste created by non-stop coffee drinking

- Giving someone from the University of Oklahoma a hard time, regardless of if I’m a football fan

- Waiting for “all ya’ll” to appear in Webster’s Dictionary