Hire a Nanny

Naturally, at a women in capital markets seminar you would expect the talk to address balancing career and child rearing, and that it did. Hiring a nanny would be one of the most emphasized pieces of advice that was shared by the panel of women. One even hinted at having two nannies, one for the morning, and the other for the evening. Now, imagine the audience all made up of young women with a mountain of student debt thinking.. how can I afford a nanny? I thought I heard a couple snickers at the mention of the first ‘hire a nanny’ line, the snickering quieted down when it was obvious fairly soon that they were ALL dead serious. One of the speakers told us that if you didn’t hire a nanny you were jeopardizing your career.. well ok, she didn’t use that word.. however she did say that if you don't have a nanny, you are sending a signal to your employer that your job isn’t important enough. Daycare isn't good enough to balance work and career. Well, I don’t have to worry about nannies for a while, and I won’t go into my opinion on the topic.
All in all, it was a very informative session. All the women that attended worked in capital markets, and at one point in time were investment bankers, traders. Interestingly, their backgrounds were so diverse. One woman did her undergrad in german (the language); another was a genetic scientist! However they all did have either a business undergrad, mba and/or designations and were extremely qualified. They had a mingle session after the talk, but I wasn’t in the mood to really chit chat. My mind couldn’t come up with any questions to ask as they had already told us about themselves, and the thought of talking about (read: selling) myself wasn’t appealing. A shame really because the ratio of women professionals to women students was 2:1!! Hopefully, I will feel more up to it the next time. I really do enjoy hearing people talk about their career path. It always re-emphasizes the fact that there is never one path to success, and that it is always a mix of preparation and luck.

I passed Stats!!!

Wahoo!!! I can’t even begin to describe the relief I feel. My hands were shaking as I logged into the portal to check my grades. I have never been this nervous of a grade since I wrote my accounting entrance exams. Two people did fail the course, and I feel so bad for them.

It is in a crisis that you realize who your friends are and just how good the school you attend is. When I told people I was scared of failing, only one person took me seriously. Everyone just told me that they would never fail anyone. I am really glad I never took it for granted that I was going to pass just because I got into MBA school.

Over the last two months, I really wondered if I was going to pass stats, and contacted the prof. I even contacted the Program Services offices (the place mba students go to for everything). I expected them to laugh at me, and was surprised how supportive they were. They even offered to set me up with a one-on-one tutor (which I didn’t take them up on, as I had gone to the tutorials). They even followed up after our conversation. I was very impressed!

This whole episode will go down as one of those stories that didn’t kill me but taught me to believe in myself. As one of my friends said well, this is the only course I have actually had to study for, and I guess that’s true. It’s the only course, where I have actually read the entire textbook. Business to me is second nature, so worrying about mba school had never been an issue. Cocky? Perhaps. This whole experience has been humbling. I have newfound respect and admiration for the people who are learning business for the first time. I understand now how terrifying it can be.

Needless to say I called members of my urban family for an impromptu drink session to celebrate! It’s a couple beers later, and I am on a definite high from passing stats, and slightly buzzed.... I now have to go and prepare for my Eco group meeting tomorrow.

What a week...

I’ve barely held it together this week. School, work and life-in-general all seemed to collide, and it was hard to stay focussed on any one thing. Had the stats exam this week. I couldn’t even take a day off as it was year-end reporting. Well, the exam is over. That’s all I can say about it. Success or Failure is out of my hands at this point...

We’ve now moved onto Macro Economics, and the prof is really good. He’s funny and makes the class interesting. He is definitely the best professor thus far. I have observed that he has a penchant for the word ‘okay’, which he says every 2 seconds in a very funny intonation! However, for all the entertainment that he brings to class, I was starting to get bored in the second class. I really like macro economics, and when he talks about current economic news or anecdotes, I find myself engrossed; however when he starts telling me what the difference between GDP and GNP and how you calculate balance of payments, my eyes start to glaze over...

The Investment Challenge is A LOT of work!! One of our group members quit, but since he wasn’t really contributing I wasn’t too surprised. The only problem is that he was supposed to be the presenter on challenge day, and now I am not sure which one of us will have to do it. We might have to draw straws. We have to finish our investment policy by Monday, and there are still so many things to set up before we start trading. Apparently most of the other groups have started trading, so this week we have to start trading! One of the things that I really like about this challenge is that they set each group up with a mentor. We sent our mentor an email asking him to see if our stocks were aligned to our investment policy, and he replied in an hour. I was impressed! I like the fact that there are so many workshops and seminars and people to ask for help if you need it.

On another note, I was sitting with my investment challenge group when one of the Rotman Asset Mgmt reps came by, and he was rambling for a bit and at first I thought he wanted me to get him to go to some women in capital markets event, where you usually accompany a woman as a guest (there are events like that) and in between his spiel, I was losing patience (I’ve been in a very ‘chop-chop’ mood this week). It turns out he was asking me if I would be interested in attending a women in capital markets seminar. I felt a bit guilty after, especially as I was very interested. This event is geared towards women and only women. And apparently they were finding it hard to get women to go.. Bonus! Now, I know why I am doing the MBA. It’s always been quite the struggle for me to break into the investment side, and I have always felt being a woman has never helped. That and the fact that I am soft spoken and reserved. I am looking forward to it!

Distractions

Studying at school on a Sat is a BAD idea. In fact studying at school on most evenings is a bad idea too. There are too many people, and too many ‘events’ going on. How I wish for the quiet of the past summer! I am so distracted right now, that blogging seems like a more effective use of my time. The door to the study area keeps clicking every 5 seconds as someone is either entering or leaving. A couple of the meeting rooms are filled with study groups, and their conversation are so loud, that you can’t help but listen.. darn it, I might as well be contributing. The printer noisily churns out a document every so often. And to top it all, there is a Super Saturday Finance (cross between informational and networking) event in the foyer and the speakers' voices carry through the quiet study area. I might as well be attending.. Every half an hour I hear a clap, and a change of voice..So although it is very frustrating, the school is always buzzing with activity, and I guess that is a good thing...if only I could get some studying done though.

Juggling...

That’s what I feel like I am doing lately. Everything seems to be happening all at the same time. Had the accounting exam last week, and I think I did well. My mom said the nicest thing on the day of the exam. She forgot which course I had the exam for, and when I told her it was accounting, she said ‘Oh good! Your favourite subject!’ Her words stayed with me though the whole accounting exam, and I think I wrote a good exam. Fingers crossed!

I have the Stats exam next week, and it is definitely not my favourite course. I really don’t feel like studying for it, and I barely opened the stats textbook this past weekend. I was hoping to take a couple days off however it is my busy time at work, and I doubt I can take days off. I will really be celebrating once I pass Stats. It’s the only course that I have been worried about. Mainly because it is the first course where I feel below average...However, after stats, it should be smooth sailing.. yea!

Trading for the investment challenge starts on the 8th, and that is really going to be a handful. Bossing boys is harder than it looks... Working in groups is always difficult. People have different timelines, and priorities, and when things aren’t graded, purpose takes on a whole new meaning.

I have sent out the script to a couple people for criticism. It’s so hard to wait for feedback. I really hope the images in my brain have translated well into words. I still have to organize so many things for the film, and I am so grateful for all the help. I haven’t decided about music yet – Do I have it or not? On a positive note, I just got an email about the film that I was part of last fall - it placed 7th in an Austrian film festival (it was an Austrian production) My role consisted of following the director around, and observing. Haha.. However, it set the stage for everything else.

When gold digger met sugar daddy...

This is an actual post that was on craigslist and has been making the rounds online... I find this the funniest thing ever! Firstly, I am in finance, and the analogies in the guy’s response are just classic.. Secondly, I think this is the best rebuttal for all the women who expect someone else to pay their bills..The guy is a bit mean in his response..but it is still funny! Someone once told me that I was ambitious, and the way they said it made me feel that ambition was a dirty word….My response to it was I am practical. I want to have a certain lifestyle, and I don’t expect someone else to provide it for me unlike this woman here…

The Question

What am I doing wrong?
Okay, I'm tired of beating around the bush. I'm a beautiful (spectacularly beautiful) 25 year old girl. I'm articulate and classy. I'm not from New York . I'm looking to get married to a guy who makes at least half a million a year. I know how that sounds, but keep in mind that a million a year is middle class in New York City, so I don't think I'm overreaching at all.

Are there any guys who make 500K or more on this board? Any wives? Could you send me some tips? I dated a business man who makes average around 200 - 250. But that's where I seem to hit a roadblock. 250,000 won't get me to central park west. I know a woman in my yoga class who was married to an investment banker and lives in Tribeca, and she's not as pretty as I am, nor is she a great genius. So what is she doing right? How do I get to her level?

Here are my questions specifically:

- Where do you single rich men hang out? Give me specifics- bars, restaurants, gyms

-What are you looking for in a mate? Be honest guys, you won't hurt my
feelings

-Is there an age range I should be targeting (I'm 25)?

- Why are some of the women living lavish lifestyles on the upper east side so plain? I've seen really 'plain jane' boring types who have nothing to offer married to incredibly wealthy guys. I've seen drop dead gorgeous girls in singles bars in the east village. What's the story there?

- Jobs I should look out for? Everyone knows - lawyer, investment banker, doctor. How much do those guys really make? And where do they hang out? Where do the hedge fund guys hang out?

- How you decide marriage vs. just a girlfriend? I am looking for MARRIAGE ONLY

Please hold your insults - I'm putting myself out there in an honest way. Most beautiful women are superficial; at least I'm being up front about it. I wouldn't be searching for these kind of guys if I wasn't able to match them - in looks, culture, sophistication, and keeping a nice home and hearth.


And this is the answer:
I read your posting with great interest and have thought meaningfully about your dilemma. I offer the following analysis of your predicament. Firstly, I'm not wasting your time, I qualify as a guy who fits your bill; that is I make more than $500K per year. That said here's how I see it.
Your offer, from the prospective of a guy like me, is plain and simple a cr@ppy business deal. Here's why. Cutting through all the B.S., what you suggest is a simple trade: you bring your looks to the party and I bring my money. Fine, simple. But here's the rub, your looks will fade and my money will likely continue into perpetuity...in fact, it is very likely that my income increases but it is an absolute certainty that you won't be getting any more beautiful!

So, in economic terms you are a depreciating asset and I am an earning asset. Not only are you a depreciating asset, your depreciation accelerates! Let me explain, you're 25 now and will likely stay pretty hot for the next 5 years, but less so each year. Then the fade begins in earnest. By 35 stick a fork in you!

So in Wall Street terms, we would call you a trading position, not a buy and hold...hence the rub...marriage. It doesn't make good business sense to "buy you" (which is what you're asking) so I'd rather lease. In case you think I'm being cruel, I would say the following. If my money were to go away, so would you, so when your beauty fades I need an out. It's as simple as that. So a deal that makes sense is dating, not marriage.

Separately, I was taught early in my career about efficient markets. So, I wonder why a girl as "articulate, classy and spectacularly beautiful" as you has been unable to find your sugar daddy. I find it hard to believe that if you are as gorgeous as you say you are that the $500K hasn't found you, if not only for a tryout.

By the way, you could always find a way to make your own money and then we wouldn't need to have this difficult conversation.

With all that said, I must say you're going about it the right way. Classic "pump and dump."

I hope this is helpful, and if you want to enter into some sort of lease, let me know.

Hello?

I don’t even know where to begin....Life has just been hurtling past in all directions.

For the last couple weeks I have been trying to stay afloat through stats, and I think I am going to be okay for the final. We have our management accounting final exam next Thursday, and since I have barely opened the textbook, this weekend is going to be accounting 24/7. Today we got back our accounting group assignment. We did alright, but we didn’t get the top mark. I personally don’t care about grades that much, however being a management accountant, I did feel a bit miffed. Considering all our numbers were right, and the only comment we got was ‘well done’. I did find out that the group that got the top mark did it last minute, the day before. ..people like that make me feel dumb..lol!

Onto more interesting things.. I signed up for a Rotman wide investment challenge. The challenge is to manage $30 million over five months, for a client of our choice. It is quite exciting; however it is a lot of work. We have to decide who our client is first, how we want to invest, devise a risk management strategy, and finally and most importantly decide what we are going to invest in.. That’s the fun part – picking stocks! After five months of monitoring and strategizing, we present our investment strategy. Interestingly, 40% of the mark will be based on our presentation and our defence of our chosen strategy. Only 10% of the mark is based on our portfolio’s return.

And if that isn’t enough to keep me busy, my little film project is finally taking off. I have been very quiet about it, but now that it seems a reality, I feel a bit comfortable sharing. The script is done, the director is in, and the lead actress is in. The filming schedule is set. The lighting, camera, sound, location.. its all coming together.