|
Author |
Message |
|
TAGS:
|
|
|
Current Student
Joined: 14 Jan 2010
Posts: 122
Followers: 2
Kudos [?]:
36
[0], given: 17
|
Re: Cha-Ching! Add it up! [#permalink]
 18 Jan 2010, 11:33
All told it probably came to about $3500 for the application process (9 applications, 5 on-site interviews, and 2 school pre-visists + hotel/taxi/parking at LAX/mileage). I'm really lucky in that my parents gave me all the application fees as a Christmas + Birthday present. Also, my dad was a weekly cross-country frequent flyer for 15 years before he retired this year so he used up a goodly portion of miles to fly me out everywhere. I also had 3 free domestic tickets that I had accumulated by allowing myself to be bumped off flights during work trips so I used those.
Pre-application wise:
I won an award at work this year and used the money to pay off my math classes at UCLA, so I think that was about a $1000.
That's not even counting how much money I spent on the GMAT books. However, I self-studied and my dad (newly retired), with loads of free time on his hands, tutoured me. I didn't have to work on the verbal since it's a hoopty version of the LSATs but I needed a lot tutouring on the quantitative side. That was a huge cost savings for me because I definitely would have needed private tutouring.
My guesstimate for a total from April-to admissions is $5500
|
|
|
|
|
|
|
|
|
Manager
Joined: 18 Nov 2009
Posts: 75
Schools: Wharton (WL), Booth (WL), Kellogg (WL), Ross (ding)
WE 1: public accounting
Followers: 1
Kudos [?]:
7
[0], given: 6
|
Re: Cha-Ching! Add it up! [#permalink]
18 Jan 2010, 14:57
Mine doesn't look so bad
GMAT - $250
GMAT books - $40 (plus free from friend)
Essay book - $40
School visits - $150 (driving distance)
App. fees - $900
Total: $1,380
But the interviews are yet to come... At least I don't have to buy new clothes since I have suits for work.
|
|
|
|
|
|
Manager
Joined: 09 Jul 2009
Posts: 53
Schools: HBS
Followers: 0
Kudos [?]:
13
[0], given: 2
|
Re: Cha-Ching! Add it up! [#permalink]
18 Jan 2010, 16:25
Bschool is expensive!
Last edited by bwizzle on 25 Feb 2010, 00:46, edited 1 time in total.
|
|
|
|
|
|
Current Student
Joined: 05 Aug 2008
Posts: 1262
Schools: Ross 2012
WE 1: 5 Years at Fortune 50 Company in Manufacturing
Followers: 15
Kudos [?]:
163
[0], given: 20
|
Re: Cha-Ching! Add it up! [#permalink]
21 Jan 2010, 14:30
Does anyone KNOW if you can claim b-school application fees on your tax return?
_________________
Find out what's new at GMAT Club - latest features and updates
|
|
|
|
|
|
Manager
Joined: 18 Nov 2009
Posts: 75
Schools: Wharton (WL), Booth (WL), Kellogg (WL), Ross (ding)
WE 1: public accounting
Followers: 1
Kudos [?]:
7
[0], given: 6
|
Re: Cha-Ching! Add it up! [#permalink]
21 Jan 2010, 14:49
GoBruins wrote: Does anyone KNOW if you can claim b-school application fees on your tax return? You cannot.
|
|
|
|
|
|
Senior Manager
Joined: 02 Jun 2009
Posts: 445
Followers: 38
Kudos [?]:
155
[1] , given: 36
|
Re: Cha-Ching! Add it up! [#permalink]
19 Feb 2010, 00:16
1
This post received
KUDOS
Here is an interesting observation. I tried to calculate the opportunity cost of human productivity spent on the exhaustive selection process for MBA programs. If we use HBS as an example and round out the numbers: Total applicants: 9000; Assumed average time spent per application: 50 hrs (includes essay rewrites, recommender selection and support, research, app form, interviews, prep etc. Correct me if you think I should adjust the estimate); Total hours spent on applications: 450,000; That comes down to 225 work YEARS of human productivity lost (at 40 hours of work per week and 50 work weeks per year) or an opportunity cost of about 4.5 productive human lives of prime talent - every year. ( 20-40 yr-olds with established education and active careers). In cash, at an average of $30 per hour pre-mba salary that equals to $13,500,000 USD. For just one school! All of this doesn't even include Admissions committee time to review and interview candidates, direct preparation process costs, or time spent on GMAT study! Considering this breakdown, what is the opportunity cost of the entire application process at the top 100 schools? Shouldn't there be a way to simplify the process? What about asking candidates to donate 50 hours of pro-bono / charity work per school instead? Or setting up a single standard application for all schools... with maybe one custom essay per school? Just food for thought 
_________________
Tips: best-app-tips-77803-80.html#p610423
GMAT experience: gmat-710-q47-v41-what-worked-and-what-didn-t-81055.html#p608295
Telling your story: storytelling-82064.html#p615567
Other MBA women: calling-all-female-mba-applicants-84636.html
GMATClub interview practice groups: gmatclub-interview-groups-85902.html#p643929
Find out what's new at GMAT Club - latest features and updates
|
|
|
|
|
|
Manager
Joined: 20 Dec 2009
Posts: 74
Location: United States (CA)
Concentration: Marketing, Entrepreneurship
GMAT 1: 710 Q47 V40
WE: General Management (Entertainment and Sports)
Followers: 1
Kudos [?]:
13
[0], given: 13
|
Re: Cha-Ching! Add it up! [#permalink]
19 Feb 2010, 02:58
MBAgirl2010 wrote: Here is an interesting observation. I tried to calculate the opportunity cost of human productivity spent on the exhaustive selection process for MBA programs. If we use HBS as an example and round out the numbers: Total applicants: 9000; Assumed average time spent per application: 50 hrs (includes essay rewrites, recommender selection and support, research, app form, interviews, prep etc. Correct me if you think I should adjust the estimate); Total hours spent on applications: 450,000; That comes down to 225 work YEARS of human productivity lost (at 40 hours of work per week and 50 work weeks per year) or an opportunity cost of about 4.5 productive human lives of prime talent - every year. ( 20-40 yr-olds with established education and active careers). In cash, at an average of $30 per hour pre-mba salary that equals to $13,500,000 USD. For just one school! All of this doesn't even include Admissions committee time to review and interview candidates, direct preparation process costs, or time spent on GMAT study! Considering this breakdown, what is the opportunity cost of the entire application process at the top 100 schools? Shouldn't there be a way to simplify the process? What about asking candidates to donate 50 hours of pro-bono / charity work per school instead? Or setting up a single standard application for all schools... with maybe one custom essay per school? Just food for thought great insight and analysis!
|
|
|
|
|
|
CEO
Joined: 15 Aug 2003
Posts: 3550
Followers: 55
Kudos [?]:
626
[0], given: 781
|
Re: Cha-Ching! Add it up! [#permalink]
21 Aug 2010, 03:33
anyone from the previous season want to contribute?
|
|
|
|
|
|
GMAT Club Legend
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5881
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE: Business Development (Consumer Products)
Followers: 196
Kudos [?]:
1365
[0], given: 7
|
Re: Cha-Ching! Add it up! [#permalink]
21 Aug 2010, 07:22
|
|
|
|
|
|
GMAT Club Legend
Status: Um... what do you want to know?
Joined: 04 Jun 2007
Posts: 5463
Location: SF, CA, USA
Schools: UC Berkeley Haas School of Business MBA 2010
WE 1: Social Gaming
Followers: 49
Kudos [?]:
309
[0], given: 14
|
Re: Cha-Ching! Add it up! [#permalink]
22 Aug 2010, 12:15
|
|
|
|
|
|
Manager
Joined: 21 Feb 2010
Posts: 216
Followers: 1
Kudos [?]:
10
[0], given: 1
|
Re: Cha-Ching! Add it up! [#permalink]
22 Aug 2010, 12:23
rhyme, u make 300,000.00 a year and u still want to go for MBA? how much u expect yourself to make right after getting mba?
|
|
|
|
|
|
GMAT Club Legend
Status: Um... what do you want to know?
Joined: 04 Jun 2007
Posts: 5463
Location: SF, CA, USA
Schools: UC Berkeley Haas School of Business MBA 2010
WE 1: Social Gaming
Followers: 49
Kudos [?]:
309
[0], given: 14
|
Re: Cha-Ching! Add it up! [#permalink]
22 Aug 2010, 12:40
tt11234 wrote: rhyme, u make 300,000.00 a year and u still want to go for MBA? how much u expect yourself to make right after getting mba? rhyme makes $300,000 a year?  btw, rhyme already graduated and has a kickass job. 
_________________
****************************
GMAT Club Knowledge Vault:
http://gmatclub.com/forum/123
Haas Ambassador
http://gmatclub.com/forum/128-t62555
Kryzak's Profile:
http://gmatclub.com/forum/111-t56286
Member Essays:
http://gmatclub.com/forum/103-t50969
|
|
|
|
|
|
|
Re: Cha-Ching! Add it up!
[#permalink]
22 Aug 2010, 12:40
|
|
|
|
|
|
|
|
|
|
Moderators:
Michmax3, shovitdhar, MBAgirl2010, billyjeans, MDF, getgyan, losttraveler, mc, OasisGC, jumsumtak, RogerDodger, whiplash2411, threestripes, GMATLA, milias, aerien, highhopes, scorpionz, asimov, redjam17, crackHSW, jko, hunterashmore, highwyre237, Dbalks, nktdotgupta, kingfalcon, boogs, GoBruin, shorttheworld, ariel, jb88, theK, CobraKai, helpmehelpme, staind, mappleby
|
close
