Risk
When applying for colleges my senior year in high school, the biggest factor for me was going to a school that would be worth the money put into it. I wanted a school that could provide me with both a strong education and strong placement in the workforce. The University of Illinois fit this category to a T. My freshman year I started out in industrial engineering. U of I was ranked number three at the time for engineering, and is known to provide its students with the best opportunities to become involved and available to future employers. Although being out of state meant a much higher tuition, and greater student loans, I decided U of I was definitely worth it. By the end of my freshman year I decided to switch out of engineering. This was an extremely hard decision for me as the main reason I attended U of I was for the engineering program. I knew that coming out of U of I as a female with an engineering degree would set me up for a pathway of success into adulthood. However, I figured I would rather spend my time enjoying what I learned instead of being miserable every day in class. After spending a semester in DGS, I decided economics was the route I was going to take. Many times I had considered switching schools and moving back to NY; however, I still believe that graduating from U of I and surrounding myself in a high achieving environment has shaped who I am.
Switching into economics, made stacking my resume extremely imperative. I became a TA for Econ 203, which I was not paid for nor needed the credit for. Over the summer after my sophomore year I took an internship working for a local senator that was not paid either. Of course I had a few internships and jobs that were paid, but I mainly took them for how it looks for future employers. My outlook on my current financial state is that money needs to be spent in order to make money. My goal at the moment is to make myself look better on paper in order to stand out against other applicants that look just as good if not better.
My brother recently graduated from Northwestern Law School and currently works for a firm in NY. After taking out hundreds in thousands of students loans, he currently is on track to have these loans paid of extremely soon. However, this is because he put hours of time and effort into accomplishing his goals. Before he entered law school he worked for a consulting firm in Chicago making a very sizeable paycheck and came out of school with zero student loans because he received the Evans Scholarship. My mother did not think it was a good idea for him to go to law school, and wanted him to play it safer rather than take out loans and maybe end up not liking law. (My brother is known to hop from one thing to another) However, he obviously did not listen to her and continued to law school, now working for Bois Schiller & Flexner LLP. On the flip side he is constantly working, and does not have too much time for his own personal enjoyment. After working for only a few months he expressed his intention to only work corporate for a few years and then go on to teach after he becomes more financially comfortable. This is what I admire most about my brother. He doesn’t make any action without confidence in his ability to succeed. For myself going forward in a financial sense I am of course nervous in become financially independent, but my time and money has been wisely invested in my education and networking connections.
Switching into economics, made stacking my resume extremely imperative. I became a TA for Econ 203, which I was not paid for nor needed the credit for. Over the summer after my sophomore year I took an internship working for a local senator that was not paid either. Of course I had a few internships and jobs that were paid, but I mainly took them for how it looks for future employers. My outlook on my current financial state is that money needs to be spent in order to make money. My goal at the moment is to make myself look better on paper in order to stand out against other applicants that look just as good if not better.
My brother recently graduated from Northwestern Law School and currently works for a firm in NY. After taking out hundreds in thousands of students loans, he currently is on track to have these loans paid of extremely soon. However, this is because he put hours of time and effort into accomplishing his goals. Before he entered law school he worked for a consulting firm in Chicago making a very sizeable paycheck and came out of school with zero student loans because he received the Evans Scholarship. My mother did not think it was a good idea for him to go to law school, and wanted him to play it safer rather than take out loans and maybe end up not liking law. (My brother is known to hop from one thing to another) However, he obviously did not listen to her and continued to law school, now working for Bois Schiller & Flexner LLP. On the flip side he is constantly working, and does not have too much time for his own personal enjoyment. After working for only a few months he expressed his intention to only work corporate for a few years and then go on to teach after he becomes more financially comfortable. This is what I admire most about my brother. He doesn’t make any action without confidence in his ability to succeed. For myself going forward in a financial sense I am of course nervous in become financially independent, but my time and money has been wisely invested in my education and networking connections.
I understand you didn't realize there was a post this week, but it will be marked late nonetheless.
ReplyDeleteYour story actually replicates that of many of your classmates. They came for Engineering but ended up in Economics. You have one phrase describing the Engineering phases - being miserable in class every day. While I don't want you to relive a painful experience it is worth asking whether you could have anticipated that reaction ahead of time. The two possibilities, it seems to me, is that (1) it wasn't possible, there were too many unknowns or (2) maybe it was possible but those factors were glossed over because if it did work out that would set up everything else. If (2) is on the mark, it gives a behavioral economics view of the decision making, another example where rationality needs to take a back seat.
You didn't say this explicitly, but I gather your parents helped in paying tuition for the U of I. Your comment about spending money to make money might have been tempered if you had a pile of loans to pay off after graduation. Absent that debt, the sentiment is perhaps right. I say perhaps because it depends on the investment. Timing is equally important. You mentioned in your brother's case that he worked at a consulting firm before going to law school. That moving from school to work and back to school means several transition. Maybe that is a good thing. If you are going for an academic career, however, going straight through might be a better alternative. That's what I did.
I didn't quite get how your brother's experience informs your decision making. It would have been good to speak to that. In the previous paragraph it seemed as if you are looking for a job now. For that, the connection to your brother's situation may be clear to you, but to me as a reader, I don't see it.
I would say my brother's experience helped my decision making in that he followed what he wanted to do and saw himself doing even though it included some risk. Yes, my parents are helping me pay for college. This has what allowed me to as I said "spend money to make money." Of course this does not apply to every person, but in my case I see just like my brother worked hard for the vision he had for himself I plan to do the same. In an economical sense there is no real backing for such a theory. However, I view that I am paying myself for labor spent on school work. This labor has a certain value of output, and this output it this type of job and salary I receive from my time spent in college.
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