Life @ McCombs: Students taking questions

MBA
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I am a 2nd year MBA at the McCombs School of Business, and have started this thread to answer questions that you might have with regard to life at McCombs! I will also be joined by a 1st year student, so please fire away! A little bit about m…

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I am a 2nd year MBA at the McCombs School of Business, and have started this thread to answer questions that you might have with regard to life at McCombs! I will also be joined by a 1st year student, so please fire away!

A little bit about myself:

  1. Born and raised in India, residing in the US for the past 9 years, and currently a US citizen
  2. BCom from India, BS in Marketing/Advertising from the US
  3. 4 years of work exp. in marketing/direct marketing
  4. 660 GMAT
  5. General Management concentration with the intention to work in HR upon graduation

Hook 'em Horns!
3

Hey, I'd like to thank you for taking this initiative to help out prospective students..
I have a few queries that i'd like to ask you. These are on the minds of most of us who are apping..

1) Firstly I'd like to ask about the job situation out there in Texas? Has it been tremendously affected by the current turmoil? McCombs is known for IT, so whats ur take on the current tech sector?

2) Looking at the present situation, as a student, should one be open to working in any industry (i.e. other than the one he/she is targetting)?

3) How are the opportunities for internships on campus?

4) How easy is it to get bank loans from US, with or without a cosigner? It was comparatively easier previously but now many of the colleges have stopped their loan programs. Hence this question.

4

Hi Sandy -

1.
I'll have to keep you updated on the job situation. We don't have official stats, but through the grapevine, we know that last year, all of the international Indian students secured internships, and the majority at some great companies. Some examples include (Symantec, Discover, EA Sports, Amex, Nike, Deloitte, Apple, etc.). Now, a bunch of 2nd years have received full-time offers from the companies they interned at, but at least half have not. And so far, while they have been interviewing, only a couple have received full-time offers (from Infosys Consulting). However, I will address this question again in February as we'll all know what's going on then.

As far as recruiting goes,while UT does always get a diversity of recruiters (energy, finance, consulting, marketing) the problem is that all the companies who came last year are still coming this year. But - we don't know if they intend to hire the same # of positions. So it's very difficult to guage what's going on right now.

Trust me though, with what's going on, every school, regardless of ranking or reputation or region is going to be affected. The only saving grace for us - in my opinion - is that the school isn't dominated by people wanting finance jobs. Also, if things continue, the tech sector will be affected as well.

This is a terrible situation right now. Last year, we felt as though things were bad, but that they would pick up by the time my class graduated (May 2009). Well, I was wrong. Now, hopefully, in 2010 or 2011 things pick up, but who knows now.

I don't mean to be a doomsday predictor, but this is how I see things currently and don't want to paint something that I feel is untrue.

2.
As an international student, things are much, much harder for you. You should be open to working in any industry- but you should also have a targeted plan. e.g. Industry #1 first; if not Industry #2. This is b/c you won't have time to network with everyone, and networking is crucial, crucial, crucial.

3.
Will have to get back to you on internship recruiting b/c it hasn't begun yet. Will also defer that information to my peer as he is a current 1st year and will be able to provide better insights.

4. Loans - my peer will be able to provide a better answer as I did not go through this process. My best guess though is that it would get more difficult to get a loan from the US unless the cosignor has really good credit. W/O a cosigner, I think it would next to impossible. That's my opinion based on the current credit crunch.

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Hey PGs,
Thanks for starting this thread, gocuse!
I am a first year student at McCombs and would love to help any prospective applicants to McCombs!
Sandy, I want to reiterate the fact that "you should have a plan-B" in crisis situations such as these. And it becomes even more important if you are an international student. Further, if you have a PR (Permanent residency) or a work status from any other country, it will work wonders. Even Indian firms such as Wipro have limited H1B visa allocation at B-schools and prefer domestic students for their consulting practice.
I am guessing that you are referring to internships such as GA/TA on campus. While there are plenty of opportunities (UT is a huge school) outside the MBA School, very few people chose to do internships. The MBA workload is overwhelming and the opportunity cost is too high to do an internship! (My economics at work!!)
You can secure an educational loan from US banks without a co-signer, but with very high interest loans. (Close to 11%). Unfortunately McCombs doesnt have a guaranteed loan program and given the financial crisis, I dont see a change in the next year or so. But that said, if you have a co-signer its pretty easy to get a loan. I loaned out with CITI at a 6% interest rate. The process is pretty simple and no hassles at all.
Please fire away with any more questions!
Hookem horns!
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Also, let's use the term internship to refer to work done during the summer between your 1st and 2nd year of school so that there's no confusion going forward. Thanks McCombsMBA for catching this!

I echo McCombsMBA in that you should avoid a GA/TA ship during your 1st year. Rather spend the 10-20 hours a week looking for a summer internship.

During your second year, however, you can seek out a GA/TA ship within or outside of McCombs. I have a TA ship within the school, and I know of at least 4 other Indians who have TA/GA ships either within McCombs or outside. It all depends on the type of classes you're taking, how much time you want to devote to studies and your job search etc.

While it's possible, at the end of the day, it shouldn't be your priority and personally I don't think it should determine the school you choose to attend.

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Hey PGs,
Thanks for starting this thread, gocuse!
I am a first year student at McCombs and would love to help any prospective applicants to McCombs!
Sandy, I want to reiterate the fact that "you should have a plan-B" in crisis situations such as these. And it becomes even more important if you are an international student. Further, if you have a PR (Permanent residency) or a work status from any other country, it will work wonders. Even Indian firms such as Wipro have limited H1B visa allocation at B-schools and prefer domestic students for their consulting practice.
I am guessing that you are referring to internships such as GA/TA on campus. While there are plenty of opportunities (UT is a huge school) outside the MBA School, very few people chose to do internships. The MBA workload is overwhelming and the opportunity cost is too high to do an internship! (My economics at work!!)
You can secure an educational loan from US banks without a co-signer, but with very high interest loans. (Close to 11%). Unfortunately McCombs doesnt have a guaranteed loan program and given the financial crisis, I dont see a change in the next year or so. But that said, if you have a co-signer its pretty easy to get a loan. I loaned out with CITI at a 6% interest rate. The process is pretty simple and no hassles at all.
Please fire away with any more questions!
Hookem horns!


just inquisitive about the no cosigner loan at 11 pc..I am enrolling at some other school in spring and wanted to secure a no cosigner loan..is it possible to get the details(bank,Terms and conditions,etc) of the no cosigner loan??
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Some useful links:
News Blog
Curriculum
Career Stats
Class Profile
PLUS Program
Brochure
Rankings
Strategic Plan 2004 - 2010

9

Hi,

What are the options available to finance the program? Does the school offer fee waivers or scholarships?

Thanks

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The school does offer scholarships, although they're very competitive and difficult to get. Not too many Indian students from my class (graduating 2009) received scholarships/in-state waivers during their 1st year, but I know several who received some sort of scholarship/waiver/TAship during their second. I also know of at least two Indians from this year's entering class who received some sort of scholarship/waiver.

There are opportunities, but I they're very competitive and I wouldn't count on them.

On another note - McCombsMBA is currently enjoying his midterms, so he may not answer questions directed at him this week. He'll be back soon though!

11

Hi guys!

I wish to apply to the University of Texas, Austin Full Time MBA program and have just started the application process. However on applytexas.com while starting the application, I am not able to figure out which MBA program to choose out of the list.

Again, I want to apply to the Full-Time Texas MBA at Austin. But when I try to select the major, the list has only the following..

McCombs School of Business (MBA Double Degree Program)
McCombs School of Business (Texas Executive MBA)
McCombs School of Business (Executive MBA in Mexico City
McCombs School of Business (Texas Evening MBA)
McCombs School of Business (Texas MBA at DFW)
McCombs School of Business (Texas MBA at Houston)

Can you tell me which one to pick the FT program at Austin?

Also, please accept my apologies in advance for being so ignorant. A quick reply will be much appreciated.

Thanks & Regards

Karan

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Hey - I'm not sure what the applytexas link you're referring to is about (in anycase, I think it should be .org, not .com). Things could have changed since I applied two years ago, but here's where you need to go to apply to the FT program:

Apply - Texas MBA - McCombs School of Business - The University of Texas at Austin

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jimmorrison Says
just inquisitive about the no cosigner loan at 11 pc..I am enrolling at some other school in spring and wanted to secure a no cosigner loan..is it possible to get the details(bank,Terms and conditions,etc) of the no cosigner loan??
....................................

Sorry PGs for the delay ,,,,my midterms really knocked me off and i am still recuperating!!!!......

@Lizard king aka Jim morrison, there are lenders such as Sallimae , CITI, Wachovia which lend out without cosigners. CITI might have changed their policies in the recent past due to the meltdown. Please check CITIassist for updated details. ditto with Wachovia too.
14
Hey - I'm not sure what the applytexas link you're referring to is about (in anycase, I think it should be .org, not .com). Things could have changed since I applied two years ago, but here's where you need to go to apply to the FT program:

Apply - Texas MBA - McCombs School of Business - The University of Texas at Austin



hi gocuse03!

i guess the process has changed.. now the applicants have to go through a common website for all Texas universities and schools..
Apply Online Do Stuff Online Be a Longhorn

And just quoting what is quoted here on the website (click on Admissions)
-------------------
Your complete application to the University of Texas at Austin must include

  1. The information you submit through the ApplyTexas Application
  2. Other items that must be submitted to the Office of Admissions (for freshman admission or for transfer admission

-------------------
Click on the link here and u get to..
https://www.applytexas.org/adappc/gen/c_start.WBX

Can someone please help?
Again, I wish to apply for the FT MBA at McCombs in University of Texas Austin!

Thanks anyways,

Karan
15

Juss to clear the confusion around the application process. .

  1. Navigate to the link How to Apply - Texas MBA - McCombs School of Business - The University of Texas at Austin to find instructions about essays, application procedure etc.
  2. Click on the "Texas MBA application link"
  3. click on "Get Started" link to create a EID and start your application.
  4. Once you create a unique EID, you will have to login to the system and choose MBA Fall 2009 application.
  5. I juss did the whole app process and it worked without a glitch.
lemme know in case of any questions,,,,

ciao
16
hi gocuse03!

i guess the process has changed.. now the applicants have to go through a common website for all Texas universities and schools..
Apply Online Do Stuff Online Be a Longhorn

And just quoting what is quoted here on the website (click on Admissions)
-------------------
Your complete application to the University of Texas at Austin must include

  1. The information you submit through the ApplyTexas Application
  2. Other items that must be submitted to the Office of Admissions (for freshman admission or for transfer admission

-------------------
Click on the link here and u get to..
https://www.applytexas.org/adappc/gen/c_start.WBX

Can someone please help?
Again, I wish to apply for the FT MBA at McCombs in University of Texas Austin!

Thanks anyways,

Karan


Guys! Problem solved!
Guess I was browsing the wrong pages.. but I am not sure it was so clear on the website!
Thanks for the help.
Cheers!
17

Hi,

I'm interested in an MBA in Information management, MIS etc. Not looking to change career path - only to fast forward in the same line. :smile:

Also, I definitely need financial assistance and don't want to take too much loan. I'm looking to come back to India in a year or two after my MBA -so I don't want a huge loan to pay off.
What are my realistic chances of a scholarship or fee waiver at McCombs based on the below profile?


My profile details

Education: BE (EEE) 74 %
Work Exp - 2.5 years in electrcial industry (product quality assurance)
+ 3 years in IT services (banking client)
GMAT 730 (AWA 5.5/6 Verbal 44(97%) Quants 47(79%))
TOEFL 116/120
Extra curriculars - some community service, writing, involvement in a e-mag

Thanks,
Malavika

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@malavika,
Thank you for your interest in the McCombs School of Business.
I am sure you have heard the cliched statement that scholarship decisions are a function of many factors such as your academics, scores, essays, community activities and most importantly your profile in totality. Hence, I am afraid that there will be no objective answer to the question!. The scholarhip decisions are very very competitive at McCombs, given the large pool of applicants with extremely strong profiles. On a different note, most of the top 20 business schools do not give out a large number of scholarships.

cheers!


Hi,

I'm interested in an MBA in Information management, MIS etc. Not looking to change career path - only to fast forward in the same line. :smile:

Also, I definitely need financial assistance and don't want to take too much loan. I'm looking to come back to India in a year or two after my MBA -so I don't want a huge loan to pay off.
What are my realistic chances of a scholarship or fee waiver at McCombs based on the below profile?


My profile details

Education: BE (EEE) 74 %
Work Exp - 2.5 years in electrcial industry (product quality assurance)
+ 3 years in IT services (banking client)
GMAT 730 (AWA 5.5/6 Verbal 44(97%) Quants 47(79%))
TOEFL 116/120
Extra curriculars - some community service, writing, involvement in a e-mag

Thanks,
Malavika
19

folks,
I understand the first deadline is around the corner. Please shoot me any questions that you might have!

20

Hi,

I have a query on application:

On the page for filling education details, do we really need to write the accurate details from class 1? what purpose does it serve? & how accurate information is needed?

Thanks for answering,

Best Regards,
Vishant Jain