Posts Tagged ‘MBA tutor’

MBA Student Loans – beware!

Tuesday, August 17th, 2010

Mint.com has an excellent article on student loans. It highlights a few WSJ articles on this subject too.

The key take away is that student loans have now surpassed credit card loans. So please manage them just like you would any other debt. Mint.com has a few suggestions. Go to a college you can afford! Take the core classes from a community college and transfer credits go to a brand name college for the later part. What was shocking (and I too did not know this) was that these loans have some ugly fine print. Heavy fine print for missing payments, nuisance calls from debt collectors, etc. What is appalling is that these student loans live on even after a student dies. The co-signers need to pay the loan off! You cant even get this debt off in bankruptcy!!

Read this article. Its worth it. Take the news out and tell your friends about it.

Here is an additional tip from us as MBA tutors who can assist you with business plans. Just like you would write a business plan when you think about starting a new business, write up a plan for your MBA idea. Consider the total cost of getting an MBA at the schools of your choice. Make sure you try the full time ones, part time, distance eduction, local colleges, top tier, etc. Compare the cost and the payoffs, expected salaries, how you will finance them, etc. Treat it like a business decision not an emotional one.

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MBA applications: Quality vs. Speed/time

Wednesday, August 11th, 2010

Today’s NYT has an interesting piece on college applications. It is essentially highlighting the importance of submitting a high quality and thoughtful application that truly reflects who you are and your desires and ambitions. That is way more important than getting your application in early.

So as you go about getting your applications ready, take the time and effort to do it well. Dont rush it. Be mindful of the deadlines and plan ahead. Feel free to call one of our MBA tutors should you need assistance. It is helpful not to have to wait till the last round in business schools as one of the factors the b-school admissions officers consider is the mix of profiles in the class.  But quality still trumps speed. Let your application truly reflect who you are. You will come across as more credible when the impression you make in the interviews is consistent with your admission applications.

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MBAs Measuring Success

Wednesday, July 28th, 2010

As MBA tutors we often get to advise a number of our students on various life decisions. We enjoy and value this opportunity as it impacts our students lives far more than their ability to understand NPV or cash flow statements (which by itself is a valuable skill)!

Renowned professor and thinker Clayton M. Christensen has written an excellent article on measuring success for the July-August 2010 HBR magazine.   He was addressing an HBS class on how to apply some of his work on their personal lives. Excellent article! Thank you HBR and thank you Clayton!

A must read article on measuring success.

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MBA tutor: Lessons for MBA From a Fishing Village

Friday, March 5th, 2010

If you havent read this tale below, you must. Of course, as MBA tutors, most of us at Graduate Tutor are MBAs, CPA or CFAs and have the attitude of the MBA in the story! I spent some time thinking about this story. What do you think about it!?

A management consultant, on holiday in a African fishing village, watched a little fishing boat dock at the quayside. Noting the quality of the fish, the consultant asked the fisherman how long it had taken to catch them.

“Not very long.” answered the fisherman.

“Then, why didn’t you stay out longer and catch more?” asked the consultant.

The fisherman explained that his small catch was sufficient to meet his needs and those of his family.

The consultant asked, “But what do you do with the rest of your time?”

“I sleep late, fish a little, play with my children, have an afternoon’s rest under a coconut tree. In the evenings, I go into the community hall to see my friends, have a few beers, play the drums, and sing a few songs….. I have a full and happy life.” replied the fisherman.

The consultant ventured, “I have an MBA from Harvard and I can help you…… You should start by fishing longer every day. You can then sell the extra fish you catch. With the extra revenue, you can buy a bigger boat. With the extra money the larger boat will bring, you can buy a second one and a third one and so on until you have a large fleet. Instead of selling your fish to a middleman, you can negotiate directly with the processing plants and maybe even open your own plant. You can then leave this little village and move to a city here or maybe even in the United Kingdom, from where you can direct your huge enterprise.”

“How long would that take?” asked the fisherman.

“Oh, ten, maybe twenty years.” replied the consultant.

“And after that?” asked the fisherman.

“After that? That’s when it gets really interesting,” answered the consultant, laughing, “When your business gets really big, you can start selling shares in your company and make millions!”

“Millions? Really? And after that?” pressed the fisherman.

“After that you’ll be able to retire, move out to a small village by the sea, sleep in late every day, spend time with your family, go fishing, take afternoon naps under a coconut tree, and spend relaxing evenings having drinks with friends…”

~author unknown

Here is what I thought about this!

  • Its wonderful to know what we want. This is however not very easy as we have to remove external influences that create needless desires within us.
  • I truly wonder if life will be so simple and if it will stay this way when everything around you is progressing down another direction.

What ever conclusions you reach, we must all agree that it is important to try and figure out what we really want with our MBAs and our lives in general and aim towards it. Otherwise we will spend our lives climbing up the wrong ladder and on reaching the top feel that we have waster our lives.

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Financial risk: Tutoring still needed!?

Friday, February 12th, 2010

Have we learnt our lessons from the economic crisis? Or do we still need more financial risk tutoring? What can MBA programs do to promote an understanding of financial risk in MBA students who will lead in the future ?

The economic crisis over the last two years has seen plenty of paper, ink and blog space being used to point fingers at almost everyone! Governments, political parties, organizations ( both private and public), individuals, leaders, society, habits, et al have been accused of contributing to the crisis. Economist.com has an interesting take on financial risk. In a special report on financial risk Matthew Valencia talk about various views. Read it in detail.

Much has been written and talked about. Have we learnt our lessons? Or do we still need more financial risk tutoring? I believe we still need more financial risk tutoring. Creative financial accounting, fancy economic models and financial modeling, etc are not the solution. Business schools must make financial risk management an integral part of their MBA programs.

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The MBA program is a challenge!

Saturday, February 6th, 2010

The MBA program is a challenge for most of us! Juggling work, studies, family duties, extra curricular activities and other demands on your time is never easy. If you are from a non- business background you can add to that list subjects like accounting, finance, statistics and operations research which require great tutors and sufficient time to master. We hear this often and want to highlight this great quote from Roosevelt.

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

- Teddy Roosevelt, April 23rd 1910

Hang on and persevere. This MBA program will be over soon and you will enjoy the benefits of being an MBA graduate! In the meantime, if our MBA tutors including accounting tutors, finance tutors, statistics tutors, economic tutors, operations management tutors, etc can assist you in any way, please do not hesitate to get in touch with us. Private tutoring does make learning a lot easier and faster.

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Business Writing & MBA Tutors

Thursday, January 28th, 2010

As MBA tutors, we get to work with MBA students around the country. The business writing skills of a few MBA students are a concern for us. With texting becoming widely prevalent, classic writing skills are being significantly compromised. Spellings, grammar, structure, et al are severely compromised.

This NYT article highlights this issue in the US.  I recently read about a group of UK educators who considered removing the requirement for correct spelling in exams as the number of British students failing exams had increased dramatically!

I believe that we are only seeing the tip of the iceberg as most of our students are in their thirties and above. We will only see the impact when today’s teenagers reach graduate school.  A decade from now, I believe that business writing will become a foundation course in the MBA program.

The NYT article above takes a lenient view on spellings. I personally would like to maintain the good old classic writing skills and will encourage students to use good business writing. While we do not have any specialist business writing tutors, our finance tutors, accounting tutors and economics tutors can tutor you on business writing and help you develop business writing skills.

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MBA / EMBA students and the deductibility of MBA tuition costs

Wednesday, January 27th, 2010
Note: We are CPA / EMBA tutors and not tax consultants or advisers. Please consult a professional for tax advice.
MBA students have always wondered if their MBA tuition is tax deductible. What about your MBA tutoring costs?  The deductibility of MBA tuition and MBA tutoring costs has not been clear. But a recent ruling may provide some clarity.  This article by Laura Saunders from yahoo!/wsj.com discusses how Ms Singleton-Clarke, a Maryland nurse, won a battle with the Internal Revenue Service on the deductibility of her MBA tuition! We applaud her for her bravery in taking on the IRS and that too without a lawyer!!
Generally you can deduct “ordinary and necessary” expenses paid in connection with your trade or business as long as it is appropriate or helpful to the business. Taxpayers can deduct education costs, in particular, as “ordinary and necessary” expenses if the education maintains or improves the skills required for the taxpayer’s current trade or business. These rules usually meant that if you are not a lawyer or a doctor and you go to law or medical school, you can’t deduct the cost of your tuition.  The IRS argued that business school education and MBA tuition were not  “ordinary and necessary” expenses of a business. Doctors and lawyers needed the certification to practice – but you did not need an MBA to be in business or have a career!
However, this ruling essentially states that your MBA / EMBA tuition can qualify as a deduction if you can prove that your MBA and the courses you take improve your business skills and help you grow your career/business. It does not matter if you are a full time MBA student or part time MBA student.
This tax filing season, make sure your tax advisor knows about this ruling and ask if you can qualify to deduct your MBA tuition cost. Check with him on your MBA / EMBA tutoring costs too! Maybe you’ll have more money in your pocket!
Note: We are CPA / MBA / EMBA tutors and not tax consultants or advisers. Please consult a professional before you decide on the above.
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MBAs & the Economics of Cows

Wednesday, January 13th, 2010

We truly believe that MBA programs (good ones) are worth every dollar you spend on them and are easily one of the best masters’ programs out there (for most people).  One of the reasons is that an MBA program is very versatile.  If you list out all the sectors or functions that students join after their MBA, you will  probably list out everything under the sun.  An MBA adds value in almost all industries, sectors and roles.

Here is additional evidence why we believe that an MBA is a versatile program. An Economist article on the economics of cows mentions  that Dr Galligan, got an MBA from the University of Pennsylvania after originally studying veterinary sciences. He is now teaching veterinary economics. He has also spent time helping Amish farmers in the past! How much more interesting can life get!?

Here is the kicker! Whichever industry or function you are in one of our MBA tutors can tutor you on a subject that is of interest to you!  The range of concepts we tutor students in is so wide that between our pool of MBA tutors (finance tutors, economics tutors, statistics tutors, accounting tutors and financial modeling tutor) we will have something that is of interest to you! It may be understanding the economics of a cow, calculating the net present value of an asset, figuring out the return on investment of a new project, building a business plan or a financial model for a business plan, or figuring out the marketing strategy for a new market but one of our MBA tutors can help you learn something interesting. Challenge us on this. Give us a call.

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Interview preparation for MBA students

Tuesday, January 5th, 2010

MBA tutoring is our primary focus.  We however provide our MBA students a variety of other services in addition to MBA tutoring including interview preparation assistance and specialized niches such as case interview practice sessions with industry professionals.

Yesterday’s NYT has an interesting article on alumni turning back to their college career centers for help on a variety of services from counseling, resume editing, job search assistance, etc. You can read more about the story here.

The article mentions that some of these colleges provide this service free of cost while some charge for this service. I want to reiterate that we do provide similar services such as interview practice to our MBA students. Practicing for interviews is critical especially if you are interviewing for niche careers such as consulting or investment banking where they use specialized interview techniques. Case interviews are a good example. (Read what is a consulting case interview here) Practicing for case interviews and preparing for case interviews significantly increases your odds for success.

We however charge for this service as we are not subsidized by any organization or government and hence have bills to pay. Our career services are quite pricy we admit…But we do get you assistance from industry insiders (usually from your industry of interest) and not from career officers who have been career officers their entire careers!  We believe getting someone from your industry is worth the price difference.

Do let us know if we can get you some professional help.

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