Wharton students get a 'Life'

Wharton School students pride themselves on learning as undergraduates how to negotiate multimillion-dollar mergers. But when it comes to negotiating their own car deal, apartment rent or even what to wear to work each day, they still have a lot to learn. That's the premise behind a new series of "Life Skills" seminars taking place this week, which aim to prepare Wharton graduates and other University students for the real world, according to Wharton junior Vishnu Srinivasan, the program's creator. Srinivasan developed the new program -- which offers classes ranging from personal fitness to personal finance -- as a member of the Wharton Dean's Undergraduate Advisory Board, which is co-sponsoring the hour-long, non-credit classes along with the Wharton Alumni Relations Council and Harnwell College House. More than 75 students attended the first two seminars on Monday afternoon in Steinberg-Dietrich Hall. In the first session, students took copious notes --Ethough they complained about the lack of hand-outs -- as Restaurant School graduate Joe Cummins demonstrated how to prepare quick, healthy meals for a small group of interested students. "It seems like a lot is involved," Cummins said as he sliced mangos, lemons and oranges to concoct the citric vinaigrette dressing for a grilled chicken salad he prepared in front of the students. "But the extra time pays off in the long run," he noted. "It's better for you than a bag of chips." Cummins also advised students to stay away from infomercial "junk" when purchasing cooking equipment, explained how to dice food without chopping one's fingers and lectured about the anatomy of a Serrano chile pepper. In the second seminar, financial planner Fred Dunbar, who heads the Philadelphia-based Common Cents financial consulting firm, advised the future finance mavens about personal banking and finance opportunities. "The biggest mistakes college students make after graduating is getting into debt and not starting early enough on retirement planning," Dunbar noted. Dunbar refreshed students' knowledge of practical business skills, talking about choosing a bank, filling out basic tax forms and dabbling in the stock market. "There are a lot of people who want [stock returns] of 20 percent or more," he said. "But if you average 10 percent each year, by the time you retire, you will do very well." Dunbar suggested that students allocate a portion of their retirement money into the new tax-free Roth IRA. First-year Wharton MBA student Natalie Poon shared some of her real-world experience with the class. "Use a good accountant," Poon said, noting that many professionals will offer students a discounted rate. "I could have figured it out," she quipped, "but the one time I did [the taxes] myself, I got embroiled in a mess and had the government come after me." The "Life Skills" program began last year when many seniors expressed worries and concerns about life after getting their investment banking jobs. "There are some things you don't pick up in the classroom but you need in life," Srinivasan said. "Some kids here at Wharton know every single detail about corporate taxes and accounting, but when it came to filling out their own forms, they didn't know how." However, Srinivasan said that a survey conducted last spring found that most Wharton students were interested in learning such skills. And after looking at similar programs at the Massachusetts Institute of Technology and Colgate University, members of the WDUAB began contacting Philadelphia-area businesses and alumni to participate. So far, this week's classes have also included sessions on personal fitness and selecting insurance. Today, students will get lessons on dining etiquette and renting an apartment. And tomorrow's seminars will offer tips that can be used in the world both in and out of the boardroom. Speakers will offer students advice on how to dress for success as well as provide students with basic car buying advice so they can negotiate a good price on their new automobile.