As an Asian person, I didn’t realize life was much worse for an Asian person in America. That has really resonated with me. He is a real saver, and probably could retire early, but he really likes his job as of now, so who knows. For example, UVA has outperformed Harvard in gross SCOTUS clerks over the last 10 years (by almost 2x), even though they have lower enrollment. I’m just not that impressed with the alumni. Author Bio: Sam started Financial Samurai in 2009 to help people achieve financial freedom sooner, rather than later. In the Korean community, “Harvard” is a big deal. I like the stories of high school dropouts who go on to achieve great things (such as Richard Branson). It’s a Midwestern thing for parents to shrug, “Well, none of my business what you do, just do your best.” So I decided to go study theology in a tiny college instead of shooting for the Ivy League or an international scholar program. The value proposition to go into the private sector doesn’t make it worth it (in my field). There’s got to be more to work than making lots of money. Awkward, shy Asians are penalized much more than awkward, shy people of other ethnicities because that fits into the stereotype of Asians, and no one likes stereotypical Asians. To outsiders, things are a bit different. BTW, Deep Springs is amazing (as is St. John’s), although sadly the former is still single-sex. My college and grad school educations were dirt cheap. As someone who was tiger-parented, I followed the academic path and did the best that I could. According to Business Insider , the rugby-playing Brit comes from a well … If I take a look at my school (Villanova) vs where my brother or wife went to school (Small schools in NJ) – the difference in career services was night and day. Then do you want elite schooling for business development for a mega corporation, or a startup? There’s definitely a chance that my son could turn out to be a nobody after 13 years at Punahou. I didn’t realize there is so much generalization about Asians. The night he got accepted, I cried, and told him he had the golden ring, and his life would never be the same. Typically, if you ask someone where they went to college, they will of course state their undergrad. Replies to my comments But it’s not. They are friends scattered around the country. I’m just saying that I’m not one of those parents who’s going to force my kid to go to college, which is what most parents do. I hope you can continue to provide good advice. Right now, that means an additional $19,440 in tuition for business school and an extra $33,348 in law school tuition. He raised a $3.5M seed round in 2016. Those qualities are not necessarily a result of an elite school education. It’s for gifted children and I work for the woman who sends her son there…it’s just impressive I get so green eyed. So is the money worth it if we ended up in the same place? It’s not an easy path, but very doable. Career experience and where you received your degree(s) carry weight when it comes to the resume vetting process. Well-funded schools like these also have great financial aid, which makes cost comparisons difficult. Who knows! Thank you for providing advice to a 25-year-old. Private universities are prohibitively expensive if your child doesn’t get any grants or scholarships. Occupation: Co-founder of the social media ad startup with the Yale main founder, but left to start his own fintech company providing cheaper retirement plans for companies. Burn out is high. And what are your thoughts about sending your kid to public or private school? Keep on applying to do new things. Harvard or other elite colleges is not the be-all and end-all all that some people make it out to be. I know two people who by their own accounts fall in this category. Thoreau, a Harvard graduate, is one of his role models. All work in banking, consulting, and tech due to money and fake prestige. Even in your case, your blog carries authority BECAUSE you were in finance for 13 years first. When I was a FSE, I had no less than 5 different people ask me “If you went to Duke, how’d you end up in this job?” I even had a client directly ask me what his college-attending son could do to not end up like me (on our first meeting!). Moreover, I think there are a lot of great students, who for whatever reason, don’t attend top schools but have the ability to thrive in them. Only 25% of job success is predicted by IQ …. Using the word “nobody” is admittedly harsh, but I say I’m a nobody all the time and think it’s great! Instead of always feeling dumb with the smart kids, I dropped all my AP classes and just coasted through the regular curriculum. Perhaps he disillusioned out. ), NONE of them ask for service experience. Alan Dershowitz was born in New York City, New York, USA on Thursday, September 1, 1938 (Silent Generation). Thank You, Sam! Sorry to use pretentious Ivy-esque vocabulary. For example, the Business Development role at Financial Samurai may entail building new advertising relationships with products in the retirement space. As a side note – I’ve interviewed hundreds of teacher candidates. The conclusion I submit to you is that Boston punches far above its weight class by any of your measures and your analysis supports the fact that Harvard has a big role in this. -JC-. There’s just a lot of fear and guilt of not doing the right thing, so I figure I might as well get everybody’s input before I get to that stage. See: The Cheapest International City In The World, Why Is Property So Cheap Compared To The Rest Of The World. To begin with, a Harvard Extension Degree is not the equivalent of a Harvard College degree. Been a reader for years now. I graduated with minimal debt. Our children will make their own choices as to what is the best route. In respect for that spirit, and for Harvard, it’s ALB, not BLA. Perhaps making something like 400k or higher is not that important to me. Really enjoyed seeing your input and how you’ve done so well without an “elite” college. Harvard applicants have to do a lot and it can be overwhelming. I didn’t. I know my MBA has given me very critical thinking skills that I’ve always tried to make me take action. I’m perfectly happy where I am now, but sometimes I wonder what it would be like if I had stuck it out for longer. Don't subscribe If you matriculate at Harvard, whether for undergrad or graduate school, great things are expected of you. And a Gallup poll from 2014 of nearly 30,000 college graduates found that attending a prestigious college has no bearing on an individual’s happiness in life and work. I was in a very rigorous academic program, IB ). I think if you make very little money the financial stress can cause you to burn out. Next do you want family work balance, or none? “Harvard” or “Harvard University” is synonymous with “Harvard College” in the eyes of the public, and many people in the corporate world. The education details are not available at this time. I later transferred to a tier 2 college in the US, and more and more I am thankful for that experience. Over 15 years we work for the state in IT. or what shall a man give in exchange for his soul?” I read your comments and wanted your opinion since you’re from the Boston area you mentioned. :). I’ve been penalized unfairly in life due to being shy and awkward (social anxiety), so I never got anywhere near what I deserved. More important, are the goals worthy goals? But most of this stuff are my own insights that are correct – just from my own experiences, observations, and the experiences of others. A Harvard degree would have me still working to pay off loans, or to keep using my high cost degree. But keep the finance articles coming–financial savvy is not something that comes easily to me, so I could use the help. Wouldn’t that be even worse than going to Harvard for college since Punahou is $260k all-in (no room and board) compared to a Harvard undergrad degree or MBA? Learn all you can online and stay in your community to be connected to all the other people who are struggling.”. I got straight A’s and was valedictorian of my high school class of 300 kids. By income and savings(by age also, if include PENSION in to account) . I thought this was going to go in a different direction. [The original purpose of my search was to see if I could find anybody who started in a job like mine and moved to better things & (more importantly) HOW they did it. This career profile is the quintessential and stereotypical pedigree of an elite private school graduate. PolicyGenius is the easiest way to find free affordable life insurance in minutes. I want him to be truly extraordinary and to me, that means taking the road less traveled. Did you make a killing in PE? I went to a regional law school, where all the students are competing for a much smaller pool of potential jobs, so even though I gambled with less debt, my chances of getting a job were much lower. Best Law Schools (undergrad, masters, PhD, etc.). Good on the kids who choose to work hard for that Ivy League acceptance – it takes enormous discipline and Herculean effort. 2.) It’s a great article, however I disagree when you describe yourself as a nobody, but then mention you held a banking job for 13 years. Thoughts on why people bother to spend so much money and work so hard to get into Harvard? I started taking graduate classes my junior year (which technically was my senior year because I graduated in 3 years) Seriously. Residencies after medical school are very competitive. Asians getting into any school are of much better quality than other ethnicities because they’re much more stringent in letting Asians in, whether officially through affirmative action, or just through subconscious biases. But doing the right thing and helping others is its own reward. “The most fulfilling work directly helps someone in need.” I love this. I was afraid of my own shadow. Could be still an important education milestone. Therefore, I chose the more cost efficient state medical school route). But I grew up in an education-oriented household, so my siblings and cousins are more along the lines of your social circle. The finance track is hard to move out of for elite graduates. I don’t need to tell, I asked. I grew up in a family where you never talked about your challenges or problems or anything really. I was so afraid. My husband and I have saved for years for our kids education, very very important to us as we both have secondary degrees and my husband has his own business. Maybe your life is very good because you come off very confident, decent, and respectable, so people treat you well, and you’re able to get the jobs and life you deserve. I went to a very expensive, private university here in the states that currently has about 12K students (combined grad and undergrad). Did you take a break and then finish high school later and then go to college? Why do you think people in PE make so much when the returns are similar to the S&P 500 or less? It is worth noting the plethora of perspectives from which people view this post. I pick on Harvard because it’s the most well known university in the world and also costs about $63,025 annually in tuition, room, and board if you receive no aid. I noticed that your profiles are heavily biased to business. These are the Peter Thiels of farming. Your story also shows how elite schools really cater to the uppermost income bracket and don’t do enough to recruit — and then support — low-income, first generation students to their great universities. Profound thanks are due to Kate Konschnik for her detailed proposals to update the 2006 version of this guide. He worked briefly in real estate & landscaping. Credible provides real rates for you to compare so you can lower your interest rate and save. I had a phenomenal experience in college. How did you get the interview in the first place? But he decided to go the entrepreneurial route, which is always admirable. It was a very formative experience. But what Wells Fargo did is even worse, and I’m shocked nobody has been thrown in jail for it. Hard work and drive will always take you farther than an unmotivated, lazy smart ass. My hopes for my kids? I was afraid to talk. Given what you say about this appointment, do you recommend people get their PhD’s today? I am one of those elite college graduates you mentioned, having gone to Duke. What educational and career path did you take? Very true. Definitely not an efficient career path, but worked out fine. Supposedly my high school is one of the best in the city, yet not every graduate goes to a university like Harvard. You went to University of Chicago and work in investor relations at Wells Fargo Bank of all the terrible places in the world you could work. You can replace Harvard University with any expensive private university in the Top 20. Therefore, it’s important to save and plan for your child’s future. Enough false starts post-MBA to warrant a lot of reflection. Also – if you are surrounded by high achievers – it makes you become a high achiever ala keeping up with the jones’s affect. It was just too much for us. How do you justify the head of the department receiving tens of millions For poor oversight? Fascinating post. But I only keep in touch with a few people there, and none of them have helped me in my career. As for the farm … growing up on a farm I can’t help but chuckle now that farming is idealized on Netflix and Top Chef. All I'm curious about is if Harvard is amazing and is worth all the struggle and stress of HS. After all, my university paid for my undergrad and graduate degrees. So why not save the money and use it towards something else more meaningful. But I’m trying to be a somebody by helping other people with their finances and their lives with this site. Three years of hustle (and 150k+ MILES of driving) passed. Like at all colleges, Harvard and other elite colleges have many graduates who aspired to become physicians as freshman, only to be weeded out by the premed process. Actually the valedictorian two years before me ended up at an elite institution. Most of us are not curing cancer or coming up with a vaccine for COVID-19. 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