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AUGUST 1999 MBA JOURNAL: INTRODUCTION Yi Lu: Who I Am and Why B-School Is for Me...
At that point in my life I felt that I needed to find an answer for all the economic transformations in China, and was curious about how a more advanced economy works. Having to live without my parents' financial support in the United States made me mature rather quickly. For the initial three years after my arrival in the U.S. 6 years ago, the only thought on my mind was how I could succeed as a foreigner in the U.S. I transferred from Beijing University of Science & Technology to Rutgers University in New Jersey for my undergraduate degree in Economics. It was a difficult three years for me, as I was forced to struggle with the differences between my Chinese upbringing and the new (to me) American culture and education. During these three years I became fascinated with how the whole economy functions, with all the moving parts. A subject such as economics was almost unheard of in China because there had been an entrenched belief that only science degrees were respectable and a liberal arts degree was something often scoffed at. After graduating from Rutgers with honors, I transformed myself from a sensitive, reserved Chinese woman to a more confident American professional working in Goldman Sachs' Fixed Income Division. I started out in the Fixed Income Industry Resource Group at Goldman Sachs. This division stands between investment banking and sales and trading. I worked with financial services clients by analyzing the tax, accounting, and risk issues in their fixed income asset/liability portfolios. I also had the opportunity to work with a variety of professionals in banking, sales, and trading areas of the firm. Although I gained a significant amount of knowledge in mortgage securities, in terms of pricing and risks, I became more interested in the underwriting aspect of the fixed income business and eventually joined the municipal finance department. Municipal finance turned out to be a very challenging experience for me. The competition in this business is extremely fierce. Winning a piece of business takes a lot of client management, financial engineering, and extreme attention to detail. I became more proficient in financial modeling, and truly enjoyed the learning experience. The turning point that led to my pursuit of an MBA degree occurred on an investment banking advisory project that I worked on. Although I had some fixed income experience, I realized the deficiency in my accounting and corporate finance knowledge. I was able to provide input when it came to client's specific asset portfolios. However, I only had a vague idea of the strategic issues facing the company, not to mention the drivers of the financial impact of different businesses. This experience prompted me to consider an MBA degree in finance. Although I had always wanted to get an MBA, it was during this assignment that I determined what I wanted to get out of a professional business degree: Solid knowledge of finance, as well as an understanding of the variety of issues facing corporate managers. What was also particularly important to me was the idea that I could take two years off from working to make some friends. Having grown up in China, I never had the opportunity to make a lot of friends in the States. Business school became the natural setting for me to meet more people of my own age and share laughter and tears together. Lastly, I was looking for a different school experience. My undergraduate years were ones of struggle and hard work. I couldn't wait to truly start enjoying the fun of being in school now that I had become much more adapted to the American culture. Even though I had a strong desire to pursue an MBA, just getting started took a lot more effort than I imagined. The normal application process was intense. I had to juggle between long hours at work, practicing GMAT tests, writing essays, and other administrative work. In addition, going to school also meant that I had to stay on campus and live separately from my husband. The day I received my Wharton admission notice was one of mixed emotions for me. On the one hand, I was glad that I could go to one of the top business schools in the country. On the other hand, I realized then how much I was going to leave behind, and that a new chapter would start from then on. As it turned out, my first-year Wharton experience was very different from what I thought it would be. For details please read my "First Year Overview."  | | Learn about your online education options |
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