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The Secret Rules of University: Know before you Go! Thomas Smith

The Secret Rules of University - Know Before You Go!

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After graduating with Distinction from the Rotman School of Business at the University of Toronto and earning a Master's in Economics at Oxford University, Tom Smith wrote a letter originally intended as advice only for 3 of his younger cousins just beginning their University careers. His blunt, unique advice evolved into this presentation - information you unlikely to find ANYWHERE else. There are secret rules to a successful university career - know before you go!

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Page 1: The Secret Rules of University - Know Before You Go!

The Secret Rules of University: Know before you Go!

Thomas Smith

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YOU ...

• are now making university plans.

• will invest several years and thousands of dollars.

• are setting course for life & career success.

• want the best return on time & money spent.

• don’t want nasty surprises

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Thomas Smith• Grew up and

graduated from a public high school in Toronto

• Earned a Bachelor of Commerce from the University of Toronto

• Went on to do a Masters in Economics at Oxford University

• Now works in finance in London, UK

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This presentation

After finishing university and leaping from school to a career, Thomas wants to share the advice he wished he had received before starting.

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This presentation ...

• is about how to reach academic success and how to move from university into your career.

• is not a motivational talk, but practical and strategic advice.

• won’t help you choose your field; it will give you things to think about, but not tell you what to do.

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Two Questions About You

1) How high are you aiming?

2) Where are you on your university timeline?... in high school and applying... just started... nearly finished

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How high are you aiming?

How you approach university depends on the career you’re aiming for:

• “I want to go on and do a PhD.”

• “I want a professional career as a lawyer or banker.”

• “I just want to pass and get a job.”

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Where are you on your timeline?

Stages on your university timeline:• Early years: finishing high school, first year or

second year undergrad• Later years: third and fourth (and fifth) year

undergrad

Some advice applies to ...• the early years.• the later years. • all years.

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Advice for All studentsNo matter how high you’re aiming

Early years:

• Keep your options open

All years:

• Careers are long

• Beyond mountains, there are mountains

• Start planning next summer in September

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Advice if you are Aiming High

Early years:

• Schools are only good if you must compete hard to get in

• A qualification is only valuable if lots of people fail at it

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Advice if you are Aiming High

Later years:

• Third year – It’s really important.

• Reference letters must be planned in advance.

• Do assignments strategically.

For all years:

• Pain is temporary, grades are forever

• One strike and you’re out

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Keep doors open for yourself

• At the start, you never have enough information to make big decisions.

• Never make a commitment you do not have to make.

• The world will change, and you will change.

• You need time and experience before you narrow your focus.

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Careers are long

• You will have multiple jobs, and each will last multiple years.

• Don’t sacrifice a long-term career goal for one that pays off immediately.

• If you only realize in fourth year you want something different, go back and do it.

• Get yourself pointed in the right direction; don’t worry about how fast you’re going.

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Beyond mountains, there are mountains

• In mythology, heroes conquer the mountain and end in Victory.

• In school and work, you never get to “the end” where you enjoy the fruits of your labour.

• The reward for hard work is more hard work.

• Education continues forever, you’re still at the start.

• “After climbing a great hill, one only finds that there are

many more hills to climb.” Nelson Mandela

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Plan next summer in September

Relevant work experience:1. Provides you with practical

knowledge you won’t learn in school.

2. Sets you apart from competitors when academics are not enough.

3. Is not just about making money – you want experience in your field.

4. Should be organized early in the year. Don’t wait for spring to start!

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University is more than education

• Elementary, high school, and skilled trades training are about acquiring knowledge.

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University is more than education

• University is also about separating the smartest people from the rest.

• It is a competition which decides some people are smarter than others.

• Succeeding is a SIGNAL to employers and other universities that you are smart and committed to your field.

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Signalling Value of Education

Fields with codified knowledge (engineering, science) have very clear standards.

• Brand of school matters less.

Fields with hazier achievement measures (law, business) have more relative standards.

• Brand of school matters more.

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Signalling Value of Education

• Very bright people who choose easy degrees are not signalling to employers how smart they are.

Ask yourself:

• Do few people attempt the course?

• Do lots of people fail to get into the course?

• Do lots of people fail the course?

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Aiming high: where others fail

• Chartered Financial Analyst: 80% who start do not finish

• Top MBAs: only 10% of applicants get accepted

• Pure math degree: few people even attempt

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Grades

• Grades are permanent

• All grades count

• Grades can always be higher

• Every point on your grade can get you to a better post-grad or career.

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Pain is temporary, grades are forever

• For grad school or a competitive career, grades matter a lot.

Employers are concerned with these: 1. The school you attended2. The degree you earned

Grad schools are also concerned with these:3. Your GPA4. The professors with whom you studied

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Grades

You have two levers to pull your grades higher:

1. How hard you work

2. The courses you select

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How hard you work

You have to:

• Memorize pointless material

• Pull all-nighters

• Miss parties and family functions

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“Good grades” are not enough. Go for every point.

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Courses you select

• Don’t make university harder on yourself.

– “I thought taking a Quantum Physics elective would be fun.”

• Electives should be at the intersection of interesting and easy.

– Interesting so you don’t get bored and neglect it.

– Easy enough that you can get a good grade.

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One strike and you’re out

• Your transcript needs to be a pristine, unblemished record

• One bad grade can ruin the whole thing

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One strike and you’re out

If a course threatens to ruin your pristine transcript, don’t be afraid to drop it if:

• You have done poorly on early tests.

• The probability of doing well looks very low.

• Your supposedly fun elective is a lot more difficult than expected.

• A required course has begun poorly – drop it and take it again.

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3rd Year: Penultimate Year

• The year upon which you are actually judged.

• Graduate schools want your application between Sept and Jan of your final year.

• Grad schools will decide on you before you ever finish 4th year.

• You cannot leave important courses until 4th

year.

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3rd Year: Penultimate Year

If you are going straight to work after 4th year:

• You will be applying and interviewing during 4th year.

• Employers will only be able to judge you on the grades, projects and work experience you have before 4th year.

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Reference Letters

• Employers and grad schools need more than a number to judge you on.

• You need personal testimonials to support your work ethic and enthusiasm.

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Reference Letters

For a good reference letter:

• The writer must know you and have good things to say about you.

• The writer should come from a department relevant to where you’re applying.

• The writer should be well-known in their field.

– This is very important for PhD programs; a high quality application requires high quality referees.

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Strategic Research/Papers

• In later years, focus your assignments on the niche in which you want to work.

• “Bend” assignments away from general work and into your area.

– Professors will usually help you with this; if you’re showing a real interest you can deviate from the syllabus.

• Now you can use your current course work to prepare for your future.

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Strategic Research/Papers

This is especially important for PhD applications.

• Grad schools will want to see that you’re interested and experienced in research.

• For a PhD application you should do an independent research course during your undergrad.

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Final thoughts:

• Work hard.

• Good luck!

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