Rachel Ybarra, BBA & MBA ’93, says McCombs changed her life.

Originally from San Antonio, Rachel Ybarra began her journey at McCombs while pursuing her accounting degree. From there, she went on to work for AT&T, where she excelled into a senior leadership role before launching Embrace Any Future, a boutique financial strategy and consulting firm. Her enthusiasm for helping people reach their financial goals is matched only for her love of McCombs, where she sits on the Dean’s Advisory Council.

“It is an honor to serve and support the future of our great university for the next generation of leaders,” she says of her work on the Dean’s AC.

We asked Rachel about her experience with McCombs, how it shaped her future, and what she sees for the next cohort of students.

Q: Tell us about where you are from. 

A: I am originally from San Antonio, TX, home of the Alamo and the Riverwalk. If you have not visited San Antonio, consider making a trip this holiday season. The downtown lights and parade are stunning, with the twinkling lights reflecting on the dark river water. A cool, breezy night makes it all look ever so magical.

Q: What brought you to UT Austin?

A: UT Austin has an exceptional Accounting Program, number one in the nation. To attend the program was such a privilege. At that time, the PPA program started with the 150-hour requirement. I was in the second graduating class at the time. This was well before the 150-hour requirement was instituted for candidates to sit for the CPA exam. UT’s accounting program has always been a trendsetter. Thirty years later, I still see the business school striving to new heights.

Q: Tell us what an impact being a McCombs grad has had on your life?

A: My life has completely changed. Going to a great school and prestigious program opened many doors and my education and the rigor of the accounting program made the transition to a highly competitive Fortune 20 company feel natural.

I absolutely loved my time at UT.  Attending an institution that has a deep respect for research was perfect for me. There was so much information right at our fingertips. More now than ever before. My financial future changed because of my education, and now I get to do what I love.

Q: Share a lasting memory of your time at McCombs.

A: I had wonderful professors who genuinely cared and lived the values of independent thinking and going beyond what was expected. They may not have told me that directly, but they encouraged me when I did those things, and it reinforced the beauty and importance of independent thinking and going in search of bigger and broader solutions. Their encouragement had a lasting impact.

Q: Tell us how you continue to be involved with McCombs, and why is that important to you?

A: I was recently appointed to the McCombs School of Business Dean’s Advisory Council. Advisory members provide counsel to the dean, faculty, and staff on strategy and issues affecting the future of the school, curricula, programs, and external affairs. They also engage in and support the fundraising efforts of the school.

Q: We recently welcomed new students to our campus. Do you have any advice you would like to share with them as they embark on their college careers?

A: Welcome to this wonderful university! You will gain so much both personally and academically. Soak in all the memories you can and live in the moment –it goes by quickly.

Professionally, I would say determine how you naturally strive, or your cognitive abilities. For me, deep research was something I enjoyed when I was at UT; it served me well in my entire professional and investment career.

Also, as you look at companies to join during your internship or upon graduating, I would say pay close attention to and understand the financial health and growth prospects of the companies you interview. It is a perfect time to use those UT Finance Class skills and determine which environments will help you grow and flourish the most.

We only have one life to live; we should see how far we can go, not just for ourselves but for our families and society.

Q: What are you doing now with your career?

A: I am creating a new life that is filled with those I love and doing things I genuinely enjoy doing, supporting, and serving. I spend my time working with determined women in the workplace as they advance their economic opportunities. We do this through work in our firm.

Also, I volunteer as a fiduciary board member and advisor for a few institutions and organizations.

And last but certainly not least, I keep working on my personal practices that are mentally challenging and fun, too.

My time at UT helped me build this new life. Things compound over time, including relationships, experiences, learnings, and opportunities. Thanks, UT, for helping me start on the path!

Q: Share your life and career ambitions and how McCombs has prepared you to achieve them.

A: I dreamed of a life that was free from certain worries and moving toward peace and abundance. Being a business owner, investor, and guide, helping others expand and advance their own economic empowerment has been a joy. Markets are not easy, but nothing worth learning or doing is ever easy. Yet, it is still something that brings me fulfillment.

A terrific education from a wonderful and stellar university allows me to be surrounded by kindred spirits who also believe that education opens doors and helps others rise above their circumstances. Getting to serve with exceptional business leaders who are volunteers as well is an unexpected gift.

In the next 50 years, I would like to see how far I can go. And hopefully, one day my older self will look back at my time and be proud that younger me took care of her, our family, and our community.

Erin George, MBA ’06, is helping pave the way for women in the consulting industry.

When Erin George, MBA ’06, Managing Director and Senior Partner at Boston Consulting Group (BCG) Dallas, began pursuing an MBA at McCombs, one thing stuck out to her immediately: how few women were in the program. While the landscape has changed since her time at The University of Texas at Austin, she has made part of her mission as an industry leader to pave the way for more women to reach their earning potential.

“I was used to seeing the rate of women in these programs at around 50 percent,” Erin, who grew up in Los Angeles, said. “Then I come to McCombs and the rate of females pursuing MBAs was around 20 percent. That was a shocker.”

She grew up attending an all-girls school in California, where women held all the leadership roles, something that was later mirrored in her sorority as an undergraduate at the University of Southern California. Her father, a USC professor, also encouraged his daughters to pursue leadership positions.

“Nothing was off-limits,” Erin, who received her Bachelor of Science in Business Marketing from USC, said. “There were no boundaries for us growing up.”

As the recipient of the Forté Foundation scholarship, which enabled her to pursue an MBA at McCombs, Erin was inspired to give back herself. Forté Foundation’s mission, in part, includes a “commitment to advancing women in business.” To date, the organization has awarded $400 million to women earning their MBAs. Erin’s commitment to furthering women in business deepened after she started her first consulting internship.

“I looked around and realized I was [one of ] the only female MBA[s] in the whole program,” she said. “That was also shocking. I said to myself then, ‘I’m going to prove I can do this and then I’m going to help other women do this, too.’”

Today, the rate of female McCombs full-time MBA candidates is 35%.

As she continued to forge deep relationships with her MBA cohort, Erin’s eye remained on the prize – carving out a larger space for women in the business consulting field.  After graduation, she began working for BCG, where she quickly rose in the ranks, blazing a trail as the first female partner, and the first to get elected to managing director in the BCG Dallas office. Today, she leads the company’s Southwest Region.

“Now Dallas has the highest percentage of female directors in the company,” she said. “That’s something I care very passionately about.”

That passion has spilled over into philanthropic pursuits, including her stint as a member of the board of directors for Girls, Inc. of Metropolitan Dallas, which helps guide female students out of poverty and into leadership roles through mentorship and other programs. More recently, Erin established the Erin and Ken George Endowment for Future Female Leaders at McCombs. Erin hopes the endowment will inspire even more women to pursue an MBA, maybe even one of the Girls, Inc. students.

“I had such a large scholarship to business school; it was one of the reasons I went to McCombs, where I had such a great experience,” Erin said. “I always knew I wanted to give back when I could. It was a no-brainer. I want the Girls, Inc. girls to go to college. Maybe one of them will choose business school and maybe they will [benefit from the endowment].”

Looking back on it now, Erin sees that McCombs gave her way more than an opportunity to earn her MBA. It provided deep friendships she still enjoys to this day, along with the entrepreneurial spirit that has helped her pave the way for so many other women.

“The ethos of McCombs is you can do hard things. When there are challenges, you can think your way around them. That’s a big part of the role I’m in now,” she said. “Twenty years ago, there was only one model of success for women. Now, there are multiple paths to success, and I want to keep showing women that.”