Spring Break
How to Save Yourself $20,000 at HBS
Paul Thomson (OC), Contributing Writer
Issue date: 3/9/09 Section: News
Isn't this HBS MBA supposed to land you a high paying job right out of school and so you might as well rack up as much debt as possible and do everything you can to maximise the fun for the 2 years?
Now…. Not so much."
Many ways you can save money, or get paid, whilst you are at HBS. It includes how to live rent free, how to get paid by careers services and how to exercise without paying extra money.
Have you had a peek at your debt balance recently? Scared? But isn't this HBS MBA supposed to land you a high paying job right out of school and so you might as well rack up as much debt as possible and do everything you can to maximise the fun for the 2 years? Now…. Not so much. There used to be things called signing bonuses, or even the other ones called investment banks. So as one of HBS only Scotsmen, I felt it only right to live up to my national stereotype as frugal and come up with a few ideas that when added together end up making a big difference to the debt load when you leave.
First up is getting out of paying rent. OK this requires a bit of work and you have to be fast (to make it happen for 2010) but you can become a freshman proctor. You live in the Harvard Yard and have to 'look after' some Harvard freshmen, but hey the HBS dorms (room and utilities per the budget) cost $14,040 and this way you get to pay no rent and no utilitities. The deadline for the resident tutors (which are in the houses undergrads live in after the freshman year) has closed, and that's a better deal, but in this environment you can't be too choosy.
This proctor gig includes a 'meal plan' which sounds a bit like a TV diet plan, but a poll I conducted showed HBS students average $13 a day on food at Spangler. So cut that back to $5 for a day for lunch saves $8 a day, 7 days a week for 30 weeks. $1,680.
Shad. So Shad is very nice. $280 worth of nice? You walk 100 meters past Shad and there is the Murr center which is…. free. It has a pool, treadmills, weights and an awesome indoor track. OK no free towels, but this is a recession. You can also use the law school gym, the Malkin center and Blodgett pool… all for nothing. For partners the Shad fee is $405 a year. $31 for the Murr …..that's another $374 saving.
Now…. Not so much."
Many ways you can save money, or get paid, whilst you are at HBS. It includes how to live rent free, how to get paid by careers services and how to exercise without paying extra money.
Have you had a peek at your debt balance recently? Scared? But isn't this HBS MBA supposed to land you a high paying job right out of school and so you might as well rack up as much debt as possible and do everything you can to maximise the fun for the 2 years? Now…. Not so much. There used to be things called signing bonuses, or even the other ones called investment banks. So as one of HBS only Scotsmen, I felt it only right to live up to my national stereotype as frugal and come up with a few ideas that when added together end up making a big difference to the debt load when you leave.
First up is getting out of paying rent. OK this requires a bit of work and you have to be fast (to make it happen for 2010) but you can become a freshman proctor. You live in the Harvard Yard and have to 'look after' some Harvard freshmen, but hey the HBS dorms (room and utilities per the budget) cost $14,040 and this way you get to pay no rent and no utilitities. The deadline for the resident tutors (which are in the houses undergrads live in after the freshman year) has closed, and that's a better deal, but in this environment you can't be too choosy.
This proctor gig includes a 'meal plan' which sounds a bit like a TV diet plan, but a poll I conducted showed HBS students average $13 a day on food at Spangler. So cut that back to $5 for a day for lunch saves $8 a day, 7 days a week for 30 weeks. $1,680.
Shad. So Shad is very nice. $280 worth of nice? You walk 100 meters past Shad and there is the Murr center which is…. free. It has a pool, treadmills, weights and an awesome indoor track. OK no free towels, but this is a recession. You can also use the law school gym, the Malkin center and Blodgett pool… all for nothing. For partners the Shad fee is $405 a year. $31 for the Murr …..that's another $374 saving.
Viewing Comments 1 - 1 of 1
Euphoria
posted 3/15/09 @ 11:33 PM EST
This is a very good article with lots of practical information. If most people around the country were using recyclable coffee cups, it would make a big difference in the ecology of the country. (Continued…)
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