The High Cost of Networking at Business School
The more prestigious the business school, the more likely you'll be over budget.
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For Victor Eng, a former Goldman Sachs investment banker in his first year at Columbia Business School, it was demoralizing to see his bank account diminish three months into the school year.
"There's something psychologically negative about it," he said. But, he added, spending more than his budget allows is a hard habit to break at business school. The typical Columbia student spends $14,400 per year on nonessential items, according to research by Bloomberg. At Harvard Business School, the MBA program where the median spending on extras is highest, that number was $16,290.