Saturday, September 21, 2013

Money Matters at HBS CC#1

     The question "is class a more divisive issue at Harvard Business School than gender?" is presented to the reader by Jodi Kantor in an expository article published in the New York Times. This article is an extension of a study about gender equality at the school. 
     Kantor states, "New students are expected to write checks of 300-400 dollars to their sections, the groups whom they take first year classes with, if they want to participate in social events."  One example Kantor mentioned was that of second year students who organized a ski trip costing over 1000 dollars per student.  These costs pale in comparison to the parties organized by members of "Section X", a secret society of ultra-wealthy students, who take extravagant weekend trips to places out of the country.  This type of spending is very divisive depending on a students economic back round.
     "Class was the bigger divide than gender when I was at HBS," said Christina Wallace, director of the Startup Institute.  Ms. Wallace attended Harvard Business School on a scholarship and was told by class mates that spending more money, as much as $20,000, to fully participate in activities, would make the difference between a "good experience and a great experience."  Many readers of the article in the New York Times, who were past alumni, agreed with her comments.  This practice places great pressure on the students from middle and lower class back rounds.
      "HBS student body is somewhat economically diverse," according to a spokesperson, "with tuition costs alone of more than 50,000 dollars a year."  The class of 2013 included students from all types of American families, low to high income.  The "global elite" (Section X), typically students from the Middle East and Asia, have far more wealth than the American students, and the American income divide is growing.  This results in a student body that is grossly economically mismatched. It is of concern that even within one of the nation's top business schools the ultra-wealthy are segregating themselves by this means.
     The problem of economic division in this school is very real.  Students have stated that they borrowed tens of thousands of dollars a year to keep up socially.  One student said she never invited class mates to her home nearby because she was ashamed of her middle class lifestyle.  'Section X' might even be considered a group of 'bullies' for putting unwanted and unacceptable pressure and stress on those with less money in their attempt to fit in.  I can't help but wonder how many other colleges have this problem. With our country's current economic problems, and the fight to find good jobs after college, I hate learn that this type of stress is present for students who already have the burden of student loans.  The last thing a person needs to feel is that they must add this type of cost to the existing cost of their education.  Division, the separation of groups by economic class or for any other reason, is not an issue the college students in our country should be faced with.