Posted
1:19 PM
by Zachary (e-mail)
Much as with its interview bidding system, the Ross School of Business has an online system for bidding for second year courses. Now, even before we've begun the Fall B quarter, it's time to bid for our [final] Winter term classes.
MBA2s start out with 1000 bid points; the good news is that, unless your goal is to take only the most popular array of classes, that's more than enough. The school posts the bidding results for last Winter's classes as a guide. Here are the 6 most expensive classes from Winter '04:
225 points - FIN 725 Applied Financial Analysis and Portfolio Management
201 points - MO 512 Bargaining and Influence Skills
155 points - CSIB 672 Strategies of Growth
136 points - BE 581 Competitive Tactics and Competitive Policy
127 points - CSIB 746 Strategies for Emerging Markets
127 points - ES 742 Entrepreneurial Turnaround Management
Considering some of these are 14 week courses and some of them 7 weeks, and taking into account that the fast majority of courses don't cost any bid points (i.e. there are more open slots than students to fill them), it would be pretty hard for a student to miss out on the classes they want to take.
As for myself, next term I don't plan to take any courses outside the business school, as I'm doing now. While I've gotten something out of those courses (in the Asian Languages and Math departments), being in a classroom with non-MBA students really drives home the advantages of business school classes: the interaction with your MBA classmates. Put another way, MBA classes emphasize the team learning and classroom discussions, non-MBA classes emphasize a sole professor lecturing in front of the room.
So Winter 2005 is shaping up to be a nice mix of finance and banking, economics, business/finance law, and management/leadership. And if my bidding goes as planned, in the final half of that term I might only have classes on Tuesday and Thursday (leaving the rest of the week to further strengthen my golf game). Sweet.
Posted
11:58 AM
by Zachary (e-mail)
As I hinted at a month ago, Management Consulting is hot. McKinsey was on campus on Friday, and they had 110 interview slots for MBA2s (yes, all were filled)! 110! Over a fourth of the MBA class!
Now, this number is somewhat misleading, since consulting companies always have a ton more slots than necessary. Last year McKinsey hired 10 full time Associates from Michigan, after interviewing 72! Not to pick on McKinsey, since all the consultancies seem to do this, for some unknown reason (that's why MC can be the black hole of interview bid points; at least with IBanks, they'll only have 24 slots).
But just the fact that McKinsey's interview slots have gone up 50+ percent (from 72 to 110) shows that MC is this year's hot field.
Posted
11:12 PM
by Zachary (e-mail)
In a game that started out under a bright blue sky and 70 degree temperatures and ended shrouded in gunmetal clouds and blustery winds, Michigan staged its largest comeback win ever in Big House history, defeating the hated Michigan State Spartans 45-37.
It's hard to describe how big a game this was for UM...words don't do justice to the intra-school rivalry, so I'll let pictures tell the story.
To be perfectly honest, until the final eight minutes of the fourth quarter, it was looking as if Halloween had arrived a day early. Michigan State was pounding us bad. But all that matters is the final score.
Now, with Florida State getting upset, with Miami getting upset, Michigan has a good shot of climbing back into the top ten. With a little help from Minnesota (playing Wisconsin next week) we're in a good place to take the Big Ten crown again.
Posted
6:41 PM
by Zachary (e-mail)
The Finance Club made its annual Wall Street Forum (WSF) trip to New York this week. Below is the summary article I wrote for next Monday's Monroe Street Journal:
...
...
Three other finance club officers and I accompanied the 110 or so MBA1s to all the events. For myself, not being in the thick of job hunting, the best part of the trip was hearing from the Mr. Glassman and Ms. Joseph Cohen. Surprisingly, their messages were remarkably similar: just how strong the US economy really is. 5.4% unemployment? Until the late '90s, most economists thought that any rate below 6% would trigger massive inflation. Inflation under 4% for over ten straight years? An unapreciated economic miracle.
What about all the worrying numbers we read about in the papers? What about the trade deficit? Well, look at the causes of it: the US economy, and consumer, is buying, but the rest of the world ain't. Exports to our aging, socialist friends in Europe has been flat since 1998; China hasn't been buying much more. So looking at a map of the world, the only engine of consumption, the only engine driving global growth, is the US. Thus, it's not so strange that other countries ship us both the goods to buy and the money to buy it with.
Conclusion: most economic stats reflect an incredibly productive, growing, and dynamic economic engine.
...
This year the Wall Street Forum trip fell three weeks earlier than last year's; that was to take advantage of the new Fall Break between the A and B 7-week terms. As a result, all of the Finance Club officers, but especially our two VPs of Investment Banking, were under the gun to schedule the bank visits, arrange the logistics, and prep the attendees. I'd estimate that I spent a good 25% of my time/energy over the past seven weeks on Finance Club activities, which is fine, because I find it rewarding to give back to the student body and also promote sales and trading as a career path. Still, I expect that my officer activities will diminish over the remainder of the term (another distraction gone).
(Note: My summary of the WSF 2003 trip is here).
Posted
1:17 PM
by Zachary (e-mail)
Thankfully, the three biggest distractions of this term--planning for the Finance Club's Wall Street Forum trip, the baseball playoffs, and the election--will be behind me (yes, I'd be heavily that we know the election winner before daybreak on Wednesday). And football season will be wrapping up soon as well. As a result, I'm hoping to focus a lot more on academics over the remainder of the term.
Posted
7:06 AM
by Zachary (e-mail)
...is not how'd I'd describe Team America: World Police. But if you are 1. not sensitive about political correctness and 2. able to handle a fare bit of profanity, you'll find this movie very, very funny. It's the first movie I've seen (in the theaters) more than once, and I recommend it to all my MBA classmates. And I'm not even a South Park fan!
Posted
8:32 PM
by Zachary (e-mail)
As I've stated before, taking 4 finance courses in Fall A was a mistake. Alas, it's looking more and more like Fall B will be a repeat performance. The thing is, I have two open slots and four classes jockeying for them. Two of those four classes are Finance classes, so I'd naturally prefer the other two (Crisis Management and Management Presentations). But when I compare the class schedules for this term and the Winter term, it looks like the only chance I'll have to take the two finance courses are in the upcoming Fall B seven weeks.
Combine this with the fact that I'll have to get the professors' permission to get into 3 of the 4 classes (since I'm currently not registered for them), and I'm back in courseload limbo again.
Posted
8:15 PM
by Zachary (e-mail)
After experimenting with selling some of my books and CD used on Amazon (to moderate success), I've taken the next step and created an Associates account. For every link to a Amazon, I'll get a small commission when people click through to their site and purchase something. Hence, the addition of my reading list to the right.
Since I almost never read books (I've had the Lyndon Johnson biography for nearly 8 months and still have only gone 50 pages) I don't expect the list to change much.
Posted
8:05 PM
by Zachary (e-mail)
It's exciting to think that election day is only two weeks away (I'm a big political junkie). This will be my first Presidential vote in a "swing state" ('96 was in Massachusetts, and '00 in New Jersey), although current poling (and the 2000 results) puts Michigan increasingly in the Kerry camp. But, based solely on the number of Bush ads I'm seeing on TV, neither side is giving up on Michigan yet.
When I registered for my Michigan driver's license last Winter, I, of course, registered to vote. Michigan does a pretty good job keeping voters informed about elections; the Secretary of State's office has a great website with voting information, including where to vote and sample ballots.
Besides the Presidential race, there are some ballot initiatives getting a lot of play (and TV ads) locally. I see numerous ads related to Proposition 1 (which would make it easier for casinos to open up in other parts of the state). And Michigan does have a marriage amendment on the ballot, Proposition 2, which simply states:
"the union of one man and one woman in marriage shall be the only agreement recognized as a marriage or similar union for any purpose."
My MBA classmates are definitely more politically aware this year; for the first time I hear discussions of politics nearly every day. However, unlike students at some of UM's other schools, MBA students understand that it's possible to work with others regardless of their political beliefs, so things stay pretty civil.
Posted
5:07 PM
by Zachary (e-mail)
This week brings both final exams for Fall A courses and the start of MBA2 interview season. Goldman, Deutsche Bank, UBS, Union Pacific, BCG, Johnson & Johnson, General Mills, Citigroup, Bain, etc., etc. A double whammy for all second year students who are job hunting. Good luck to all those out there on the hustle!
As for me, I'm only taking three courses that end this week, and all three have final [team] projects (and one has a final exam). I'm looking forward to wrapping those up early, and looking forward to getting back to New York next week for Wall Street Forum.
Posted
9:45 AM
by Zachary (e-mail)
I slept in today (rather than doing my usual 6am workout), and woke up to a pretty steady downpour. In my memory, this is the first truly rainy day we've experience since I returned from New York. Alas, it looks like more of the same is on the way.
...
For the business school, Monday is the last day of classes in the Fall A half-term; final exams fill the rest of the week. I'll be glad for Fall A to end, and will write more after finals are wrapped up. The post about my overly finance-centric courseload still stands.
...
One of my goals for my final year hear was to learn to play golf. After a month of putting, chipping, and now driving, practice, and after several private lessons (at the Pine View golf course), I'm hooked. Per the recommendation of a classmate (whose also the President of the Golf Club), I went to Miles of Golf and, ninety minutes and $500+ later, walked out completely outfitted: the Square Two XM5 set (stainless steel heads, graphite driver shaft), a Ray Cook putter, a Sun Mountain golf bag, and various other accessories. Not bad for a beginner set.
...
Yesterday, I was back at Miles of Golf to use their (heated, semi-enclosed) driving range. I went through about 130 balls, trying out my different woods and irons. Was able to make some contact, kept the complete whiffs to a minimum...all in all a good day, considering it was my first visit to a driving range ever.
However, when I wake up this morning, I'm sore in places I'd never expect to be sore. I thought golf was easy on the body: both forearms, but especially my right, sore; right pinky finger, abraised; shoulders, aching. The only part that's doing better than I'd expect is my back, which feels fine.
Lesson: add more stretching exercises to the morning workout routine.
Anyway, it looks like my Fall B class schedule will again leave most mornings free, so I expect to be hitting the driving range quite a bit over the coming months. The goal is that, when spring rolls around and it's warm enough to play, I'll be ready to hit the links with classmates and not make a [complete] jackass of myself.
...
On-campus MBA2 interviews start next week. So, so, glad that I don't have to think about that.
Posted
6:26 AM
by Zachary (e-mail)
This year's MBA1s are the first class taking the redesigned core courseload, which I previewed back in February (and is officially described here). Being only halfway through the Fall term, but a few days before Fall A class finals, it's a bit premature to judge its success, but I do have some first impressions.
The change to 7 week long core courses (from some of them being 14 weeks) seems to have prompted MBA1s to be slightly more academically focused (in Fall A) than my class was. That is, I don't remember many classmates missing corporate presentations (the bulk of which are in September) because of classwork (or classes); that seems slightly more common now. When a class runs for 14 weeks, naturally each week's classwork assumes less importance. Of course, as a first year student academics was not my priority, but I'm sure having every class run for only 7 weeks would have put more pressure on me.
A second result is that, with a much heavier courseload and less focus on job hunting, the MBA1 class will go to the Wall Street Forum (right after Fall A finals) on the 25th slightly less prepared than we were. On the plus side, many of them will have taken an entire Finance course (although others will have no finance), but to be honest, it's not coursework that'll land you a job on Wall Street, it's having done outside research, followed the markets and news, etc.
The upside of the core courseload change is that, from Fall B forward, MBA1s should have a much lighter academic load than we did. So through November and December and leading into interviews in January, they will [theoretically] be able to spend more time and energy on recruiting--doing informational interview trips to New York, going to on-campus recruiting events, etc.
I'll visit this issue again in December after the pros and cons of the new Core are clearer. As they say, only time will tell.
Posted
7:44 AM
by Zachary (e-mail)
I've just begun using Amazon to sell off some old (and new) books and CDs, and man, do they make it easy! Just type in the ISBN number (found next to the UPC barcode) and you're pretty much done. It's not going to be a big money making operation for me, but I would feel bad throwing out books and CDs, so I thought I'd give this a try.
So if you're looking for dirt-cheap CDs or books, check out my selection. Some of the items most relevant to business school would be:
* Modern Investment Management: An Equilibrium Approach [Hardcover]
* How the Bond Market Works (New York Institute of Finance (Paperback))
* Resumes That Mean Business
* Microeconomics [Hardcover]
Among the CDs I'm selling:
* 311 by Three-Eleven for a buck!
* Wu Tang Forever by Wu Tang Clan for under $4!
* Cracked Rear View by Hootie & the Blowfish for one cent!!!
Posted
6:04 PM
by Zachary (e-mail)
...or at least in the time I've been here!
Down by 4 points, 3:04 left in the game, Michigan launched an exhilirating drive across the field to come from behind against Minnesota, 27-24. Both teams played well for most of the game, but it was looking grim until the Wolverines pulled it together at the end. The crowd was going crazy when QB Henne's touchdown pass put us ahead with only two minutes remaining.
The weather was, again, awesome: no clouds, highs in the upper-60s, perfection. Click on the photo for digital video (4.5MB) of Michigan's first score:
After this big win, the fans (including many alumni, who were back for this homecoming game) led a rousing rendition of The Victors (4.7MB):
This win should push Michigan close, if not back into, the top 10. The key remaining games are clearly at Purdue (the 23rd) and at Ohio State (November 20th); with a little luck, we could get back into the championship hunt.
Is this a great business school or what!
Posted
8:47 AM
by Zachary (e-mail)
I suppose this is important news: the Ross School of Business moved up two spots, to #6, in Business Week's 2004 business school rankings. I'm not going to dwell on this, except to note that BW's survey of students and alumni took place before the $100MM gift and name change, which would obviously positively impact their perceptions of the school. Hopefully, in 2006, when BW releases its next rankings, Ross will maintain its great reputation among recruiters and, with a new facility on the way and a lot of great things happening, it will get even better alumni ratings, pushing us [back] up into the top 5.
Posted
1:18 PM
by Zachary (e-mail)
The Ross School of Business Office of Career Development (OCD) has posted the employment stats for last May's graduating class. No huge surprises, although I note that 84.5% of the class had (at least) one offer by graduation, which must be up from previous years.
The top hiring companies for the class of 2004 were (with their number of hires):
Citigroup 14
Booz Allen Hamilton Inc. 13
Dell, Inc. 13
McKinsey & Company 10
Deloitte Consulting 9
Johnson & Johnson, A Family of Companies 9
American Express Company 8
J.P. Morgan Chase & Co. 8
A.T. Kearney, Inc. 6
Eli Lilly & Company 6
So the top ten hiring firms includes two global banks, four management consultancies, one technology firm, two consumer product companies, and one consumer finance company. That pretty much sums up the diversity at Michigan.
As for geography, the Midwest and Northeast were the leading destinations, with the West Coast and International jobs fighting for third place.
Posted
1:04 PM
by Zachary (e-mail)
One big change at the Ross School of Business this year is the addition of a weeklong Fall Break (called the "MBA Forum & Development" week, according to the academic calendar), from October 25 to 30.
The motivating force behind this new holiday week was the fact that, over the Fall term, many MBA1s miss several days of classes on trips organized by the professional clubs. The biggest offenders are the Finance Club's Wall Street Forum (WSF) trip (see this post from last year) and West Coast Forum trip. While [most] MBA1s probably don't think that missing a class or two is too high a price to pay to get a good job, the professors naturally feel differently. Thus, a one week break between the Fall A and Fall B terms.
For finance club officers like myself, this means that the WSF trip falls about 4 weeks earlier than it did last year, creating a lot of pressure to line up all the logistics (the good news is that, with Wall Street on the rebound, we've got more banks lined up than ever). Even more so, the sped-up schedule makes it imperitive that we help the first year students ramp up in terms of resume, story, and market knowledge. With three weeks to go, those efforts are now at full-steam.
Posted
11:18 AM
by Zachary (e-mail)
It's becoming clear that taking such a finance-centric courseload (4 finance classes, 1 Japanese class) this term was a mistake. While I'm finding value in each course, it's difficult to focus on any one class in particular.
In retrospect, I'd rather have taken the two finance courses that I'm most intersted in (Financial Engineering I, which goes into the math/stats behind option pricing and interest rate modelling; and Principles of International Finance, which is all about Foreign Exchange) and gone non-finance for the rest of the courseload. This would have allowed me to focus all my "finance brain" on the two most important courses and have some variety to lighten the load.
Luckily, the Fall A term is rapidly coming to a close, with only 3 weeks remaining. I'm hoping to rebalance my load in Fall B, assuming that some of the classes I'm interested in aren't full.
Posted
10:33 AM
by Zachary (e-mail)
The weather over the first five weeks back in Ann Arbor has followed the exact same script ast last year. The first three weeks were gorgeous: highs in the upper 70s, lows in the 60s, not a cloud in the sky. Then, once again, as soon as the Fall Equinox passed, the nighttime lows dropped in the 30s and 40s and the daytime highs into the 60s. It's still fantastically sunny (it has rained maybe 2 of the past 40 days), but it's definitely sweater weather.
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