Guess what a first year lawyer right out of law school makes at a major law firm. For major firms outside of New York City, the starting salary is $145,000 plus a bonus that can add $20,000 to the total package. For major firms in NYC, starting salary can hit $160,000 or more, with bonuses as high as $40,000. Welcome to the world of big law (Salary Source: FindLaw).

But here’s the kicker–the high salaries may not be worth the cost of law school.

I was one of those crazy kids who actually knew what he wanted to do by the 8th grade. Having sat through a criminal trial with a friend of mine whose dad was a cop, I knew then I wanted to be a trial lawyer. And sure enough, nine years later I entered law school. Three years after that I started in the litigation department at a major law firm making an eye-popping $70,000 a year (this was 20 years ago). After eight years of sometimes 80 hour weeks, I made partner. (Some say making partner is like winning an 8-year pie eating contest, only to learn that first prize is more pie.) Two years later I quit to go in-house at a public company.

Today, I’m no longer in private practice, and I find running Dough Roller far more rewarding than practicing law. In fact, I probably would have wanted to be a blogger in the 8th grade, but the Internet didn’t exist back then (at least not in any form that it exists today).

And all of that history brings me to today’s question–is law school worth the price of admission? For most, the answer is clearly no.

Let’s first take a look at the cost of law school. The folks and U.S. News & World Report publish an annual ranking of the top law schools. The ranking includes the per year cost of each law school. For 2010, the top laws school is Yale, which sports a per year cost of–drum role please–$48,430. Even the lowest ranked schools cost $30,000 per year or more. Multiplied by three years, and the top schools will set you back about $150,000. And this cost doesn’t count the cost of an undergraduate degree, which is required to get into law school.

Now, from a pure numbers perspective, a $150,000 price tag is probably money well spent IF you get a job at a major firm, stay there for 8+ years, and make partner. But that’s a big IF. First, just to get one of these jobs requires that you attend a top 25 law school and finish in the top 25% of your class. (And if you want to work at an elite firm, you’d better attend a top 10 law school, write for the schools law journal, finish in the top 10%, and clerk for a federal judge.) Anything below the top 25 or the top 25% in your class and, with few exceptions, you can forget about the big salaries at a big firm.

And even if you land a job at a big firm, don’t go in with eyes wide shut. My experience at a big firm was actually very good. I got great trial experience, which believe it or not, is unusual for associates at most large law firms. And the other attorneys I worked with were terrific, many of whom are still good friends today. But that said, work at a big firm isn’t easy. Expect 50 to 60 hour weeks to be the norm, and 70 to 80 hour weeks a regular reality. Travel can be daunting. And the odds of making partner are bad and getting worse.

Now, a big law firm is not the only way to make a good income with a law degree. I have good friends who make an excellent living as sole practitioners. I know others who make a great living working in-house at large companies. And there are still others who make a good living in industry or government. In fact, one of the most valuable aspects of a law degree, in my opinion, is its versatility outside of the practice of law.

Still, $150,000 is a lot of money to pay for versatility, not to mention delaying your entry into the work force by three years. And here’s the reality–most lawyers don’t make enough money to justify the cost of law school. According to PayScale, the average income of lawyers nationwide (not right out of law school) ranges from $58,000 to about $110,000.

Imagine how long it would take to pay back $150,000 in school loans (plus undergrad loans) on a salary of even $100,000.

Just for the record, I’m not complaining here. I have no complaints with my work as a lawyer, or even the law school loans that I continue to pay. But if you or somebody you know is considering law school, make sure you think through the financial ramifications thoroughly before making your decision.

And for those lawyers out there, do you think the cost of law school was worth it?

The hundred dollar bill is a highly counterfeited piece of US currency, but starting in February of next year, printing fake bills will get a little bit harder.  Back in April, treasury secretary Timothy Geithner announced a new $100 bill, one that would be considerably tougher for aspiring crooks to fake. According to a statement, the new bill, like its predecessors, employs the very latest technology to stop would-be thieves in their tracks.

For starters, the new hundred-dollar mark carries a special image of the Liberty Bell surrounded by an inkwell. No standard illustration, this imprint shifts color from copper to green as the bill is tilted against a source of light. (Ambitious Xerox armed counterfeiters, beware.)

Adjacent to the Liberty Bell in inkwell image is a numeral 100 that will also shift in color as the bill is tilted against the light. That might seem like a bit of a redundancy, but keep in mind that it’s one extra step a counterfeiter has to take to print a fake. So if you’re checking a bill, take note of both the bell and the numeral 100 in the bottom right corner of the bill’s front.

In addition to the standard center portrait of Benjamin Franklin, the right side of the bill will display a watermark image of the founding father. Hold the bill against the light, and you’ll see the faint image of Franklin formed in varying degrees of darkness and light.

The hundred-dollar bill will still feature the security thread seen for years in US currency. The security thread is woven into the paper of the bill. To check it, hold it up to the light and make sure you see a continuous line over the entire length of the bill. If not, the thread it is printed on, and the bill, is not genuine.

Next we come to the new bill’s most jaw dropping of new features: the 3-D security ribbon. That’s right: the same state of the art technology that had you leaping out of your theater seat in awe of Avatar will now help divert peddlers of phony bills. The 3-D ribbon will rest on the front of the bill. Worry not: you won’t need to carry a pair of those clunky, Star Trek convention goggles to spot a bogus bill. Tilt the bill just a bit, and images of bells and digits will come into relief.  Officials say you’ll know if the bill is a fake within seconds.

The rear of the bill bears a stunning image of Independence Hall, the famous landmark wherein both the Declaration of Independence and the Constitution were authored. The clock on the hall reads 4:10, with a clock face incorrectly labeled “IV.” (The real Independence Hall has a Roman numeral four written, “IIII.”

As stunning as the new bills may be, don’t get too used to them. According to Treasury officials, the average circulation life of a C-note is approximately five years. After that, the typical bill is replaced due to wear and tear. Hanging onto any mangled bills? Head on down to your local bank. Commercial banks will exchange overly worn or damaged currency for circulation worthy bills, provided that at least one half of the original bill is present.

For more information about upcoming changes to the $100 bill, check out the video below.

SmartyPig has announced that today, their interest rate will be dropping from 2.15% to a much lower 1.75% for account balances less than $50,000.  Account balances of more than $50,000 will still be receiving the same interest rate of 0.50%.  The reason that SmartyPig gives for this, fairly large drop in APY is the following:

As you may know, interest rates on deposit accounts at many banks have been declining over the past several months due to poor market conditions. Likewise, the rate on your SmartyPig savings account is being reduced as a result of these same economic conditions.

Previously, you may have read my “rant” about how SmartyPig made a terrible decision to lower interest rates for large depositors while increasing interest rates for smaller depositors.  It made no sense to me whatsoever that a bank would distance itself from it’s greatest future asset, which is cash.  Now, with the decision to decrease that very same interest rate by 40 points just 3+ months late, I’ve learned that SmartyPig may not be too bright at all.

You see, I’m not buying this canned SmartyPig explanation.  It’s been established that SmartyPig makes their profits, not on loans of the money you deposit, rather on your goal conversions for gift cards, where they receive a sizable commission from merchants.  The reason that SmartyPig can offer a higher interest rate than that of other banks was because their profits come from gift cards.  Who cares if the economy is doing well … in fact, the worse off the economy is, the better off SmartyPig is.  Lower interest rates from banks means that SmartyPig can offer you an even higher margin for your money.

Has the economy really dropped off from mid-May, when SmartyPig increased their savings rate to 2.15% to today?  Other online banks like EverBank, Discover, ING Direct etc. haven’t touched their interest rates in months.  Why all of a sudden do you find SmartyPig, a bank which held a 2.01% interest rate for the longest time, increasing their rate minimally only to decrease it substantially soon thereafter?

The obvious and most plausible answer is that things at SmartyPig just aren’t going as planned.  When the interest rate was increased in May, we were also told of new and exciting products and given an estimated 60 day time-frame for their launch.  100 days later, we’re still sitting on the same ‘ole savings account offer, whose hurdles to deposit and withdraw money are less tolerable with a 40 point reduction in interest rates.

During this time, SmartyPig moved from West Bank, the small and cozy Iowa based institution to BBVA Compass, the 8th largest bank in the US.  It appeared that SmartyPig was growing far too large for West Bank to accommodate and while that’s true, it’s certainly not the only reason.  I’m willing to wager (although I don’t do that anymore!) the 2.15% interest rate wasn’t sitting well with SmartyPig’s competitors and considering the rules and regulations that other FDIC insured institutions need to follow in regard to interest rates, SmartyPig will now have to play ball.

Now I don’t know all there is to know about SmartyPig or their future but based on their last few actions in and out of the online channel, it would appear that this is not the first rate decrease you’ll find before the year is out.  Granted, the holiday season is fast approaching, which should mean a lot more gift card conversions for SmartyPig but considering the herky-jerky movements of the company in the last four months, be prepared for anything.

SmartyPig is still a great place to park your money (for deposits of less than $50,000) and if you’re looking to convert your funds into a gift card, it’s even better.  Your money is always FDIC insured, so there is absolutely no risk but the high level of rewards you stand to gain may not be around much longer.

If you’re a wage earning, tax paying American resident, chances are that you’re already familiar with Form 1040, or one of its variations (Form 1040A, 1040EZ). Form 1040 is the long form for filing a personal federal income tax return. Any person who lives full time in the United States may use the 1040 to file their personal income tax return. Other individuals with simpler tax situations can often use the short 1040A or 1040EZ forms.

• IRS Tax Form 1040

Form 1040 has 12 attachments, called “schedules.” A detailed look at what goes into each schedule would take quite a while. (Expect these explained in further articles.) However, here is a brief summary of each schedule. If you’re reading this around tax time and you have any questions, do the safe thing and consult a professional.

• Schedule A – Itemizes deductions against your income. Many filers take a standard deduction, rather than calculating their itemized deductions, for two reasons. One, it’s quicker and easier. Two, many filers’ itemized deductions are less than the standard deduction (anywhere from $5,150 to $14,000 this year). What can you take as a deduction? That’s a great question, but also an expansive one. Common deductions include mortgage interest, state and local taxes paid, and healthcare costs exceeding a certain percentage of income.
• Schedule B – Notes interest and dividend income. This schedule is only required if interest and dividend income in a year exceed $1,500.
• Schedule C – Lists income gathered from self-employment. There’s a shorter version of this schedule for filers who have very straightforward means of self-employment income.
• Schedule D – Lists a filer’s capitol gains, and calculates the tax paid on them using reduced tax rates for capital gains.
• Schedule E – Shows where a filer reports any income from rental property, royalties, trusts, estates, partnerships, or S-corps.
• Schedule EIC – Is used to qualify a filer for the Earned Income Credit, a credit for working filers with low wages.
• Schedule F – Lists any income related to farming.
• Schedule H – Is used to report certain taxes owed if a filer has hired household help within the tax year.
• Schedule J – Is used when averaging income over several years. Farmers and fisherman typically use this form to account for large shifts in their income from year to year.
• Schedule M – Is used in tax years 2009 and 2010 to claim a $400 “making work pay” credit. The credit is a 6.2% earned income credit, up to $400.
• Schedule R – Is used to calculate a credit for the elderly or disabled.
• Schedule SE – Is used to calculate the self-employment tax owed on income from self-employment, reported on Schedule C or Schedule F.

Needless to say, no two 1040 forms are the same. Every taxpayer has different wages, deductions, and credits. As such, no two filers will need the same documents to include with their Form 1040. You’ll need documents to certify your wages and deductions. Most any wage earning filer will require and W-2 forms from the year. Any homeowner will need documentation of mortgage interest. The collection of paper required naturally varies from filer to filer.

If you’re in a simple tax situation, you’re probably best served with a quick and easy online filing service. But if you read the above and find yourself required to fill out several of the above schedules, it might be best to consult a professional. A good accountant or tax attorney can make sure you don’t find yourself paying a costly penalty or back taxes. More, they can help you minimize your tax liability. That means less money for Uncle Sam and more in your pocket to save, invest, or spend.

Should you need help filing your taxes this year, you may want to consider both Turbo Tax and H&R Block.  Their free online tax software can make your tax nightmares disappear.

Car shoppers are normally all about getting the best deal: the smallest amount of money down, the most flexible lease terms and lowest finance charges. What some car buyers fail to calculate is not only the up-front costs associated with buying a car, but the costs to maintain a car over its lifetime, i.e., the total cost of car ownership.

Depending on the kind of car you purchase, it may end up actually costing more than you ever imagined. To illustrate, we used Edmunds.com to determine what the true cost to own a couple different types of cars would be over 5 years. Before you get scared away with the numbers, let’s first understand the costs associated with car ownership.

Depreciation is normally the largest cost factor by far. Depreciation is a vehicle’s loss in value over a defined period. An average model depreciates about 65% over five years. Some vehicles depreciate faster than others because of oversupply, limited appeal, or rebates on similar new models. Depreciation greatly affects the resale value of a vehicle.

Fuel Costs can really add up, especially for SUVs. The fuel expense in the below examples is based on the revised EPA mileage ratings assuming consumption consists of 45% highway and 55% city driving and that the vehicle is equipped with the transmission that is standard equipment for that vehicle. Fuel cost estimates are based on the one-year moving average of self-service, regular unleaded gasoline prices in Washington, D.C.  To reduce your fuel costs, consider a gas rewards credit card.

Repairs are estimated expenses not covered by the vehicle manufacturer’s warranty.  This expense is based on the cost of a typical “zero deductible” extended warranty for the vehicle, minus the estimated amount of that cost that consists of the warranty provider’s overhead and profit.

Maintenance is the estimated expense of scheduled and unscheduled maintenance. Scheduled maintenance involves factory-recommended items once a specified mileage is reached. Unscheduled maintenance includes the replacement of parts such as breaks, batteries, signal lights, wiper blade, tires, etc.

Interest/Financing is tied directly to the price of a vehicle (assuming the vehicle is not purchased with 100% cash). Edmunds calculates financing costs as interest on a loan in the amount of the Total Cash Price, assuming a 10% down payment and a loan term of 60 months. The interest rate used in the below examples is the prevailing rate that banks and other direct automotive lenders are currently charging consumers in a predetermined geographic region (Washington, D.C.) who are in the “Gold” credit tier. In other words, if you have poor credit and are lucky enough to obtain a loan, financing costs are likely to be much higher. According to Edmunds, even if you don’t finance your vehicle, this cost is still appropriate because it reflects the estimated “opportunity cost” (i.e., the amount you may earn) if you had otherwise invested the amount used to purchase the vehicle.

Insurance Costs vary depending on many factors including age, location, coverage amounts, make and model of vehicle and driving record. Edmunds calculates this cost by looking at the premium charged by insurers in a specific locale (in this instance, Washington, D.C.). The premium includes liability, comprehensive and collision from major insurers. Keep in mind that it is possible to locate a great deal on insurance if you are insuring more than one vehicle with an insurance company.

Taxes and Fees makes up a portion of a car’s cost and include base sales taxes and license and registration fees, and any other taxes, if applicable. These taxes and fees are usually based on a percentage of the purchase price, and generally decrease as the vehicle ages and loses value.

Now that we understand what the true costs of owning a car include, let’s look at some real life examples.

Example 1 - According to Edmunds.com, the cost to own a 2009 Nissan Quest 4-door minivan over 5 years (assuming 15,000 miles a year) is approximately $47,500 broken down as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5		5 Year Total
Depreciation	$5,924	$3,150	$2,772	$2,458	$2,206		$16,510
Taxes and Fees	$1,695	$113	$113	$113	$113		$2,147
Fuel	$2,162	$2,227	$2,294	$2,363	$2,434		$11,480
Maintenance	$280	$504	$344	$974	$1,034		$3,136
Repairs	$0	$0	$105	$251	$366		$722
Financing	$1,457	$1,171	$866	$541	$195		$4,230
Insurance	$1,736	$1,797	$1,860	$1,925	$1,953		$9,271
Yearly Totals	$13,254	$8,962	$8,354	$8,625	$8,301		$47,496

Example 2 - According to Edmunds.com, the cost to own a 2010 Volkswagen Jetta 4 door Sedan over 5 years (assuming 15,000 miles a year) is approximately $35,500 broken down as follows:

	Year 1	Year 2	Year 3	Year 4	Year 5		5 Year Total
Depreciation	$3,732	$1,959	$1,725	$1,528	$1,371		$10,315
Taxes and Fees	$1,206	$80	$80	$80	$80		$1,526
Fuel	$1,644	$1,693	$1,744	$1,796	$1,850		$8,727
Maintenance	$29	$188	$540	$820	$1,328		$2,905
Repairs	$0	$0	$124	$297	$432		$853
Financing	$1,037	$833	$616	$385	$139		$3,010
Insurance	$1,531	$1,585	$1,640	$1,697	$1,757		$8,210
Yearly Totals	9,179	$6,338	$6,469	$6,603	$6,957		$35,546

Again, the above are estimates and will vary depending, of course, on the location in which you live and the make and model of the type of car you buy. The important point to remember is that it’s not as simple as just driving off the lot. Car ownership entails many other costs.

I must admit, few things can excite me in life like the beginning of another NFL season.  Sure there are occasions such as your wedding or the birth of a child that are certainly more important and memorable but in terms of cyclical things, the NFL is up there with birthdays and anniversary’s.

This year’s seasons shapes up for me with a lot of hope and expectations.  You see, I am a New York Jets fan and since I started following football (around 1995) I’ve been tormented.  Reaching the AFC championship game twice, and the playoffs frequently, I’ve come oh so close but yet am still so far away.  Even though I have no family members on the team, no monetary reason to care and live in Miami, I still find myself filled with emotions for three hours each and every Sunday.  I actually find it quite strange.

And so, in just four days, the NFL season will kick off on Thursday night in New Orleans where the Saints will begin their attempt for a repeat championship.  The Jets kick off the season on Monday night against the Ravens, who I suspect will cause a rough start to the season.  Good luck to whoever it is you’ll be rooting for this season as I hope you are Superbowl  runner ups! (NFC teams only, AFC Championship runner ups)

And now on to the best financial musings of the past week.

5 Tax Moves To Make Now @ US News: Even though tax season is a good quarter+ away, there are tax moves you can make right now to ensure when the season comes around, you’re well prepared.

When Companies Go Too Far @ Cash Money Life: I once ranted about how Comcast was a company I no longer wanted to do business with but as it turns out, there’s not a single internet or cable provider (including Dish Network and Direct TV) that can provide me service so I’m 100% stuck.  Ugh.

10 Signs Your 401(k) Plan is a Clunker @ The Street: Did you know that the reason your retirement plan is called a 401(k) has nothing to do with $401,000?  The IRS tax code for this retirement plan is simply 401(k) and rather than come up with something clever, the code just stuck.

Which Transaction is Faster for Small Purchases: Cash or Credit? @ The Consumerist: Speed is becoming more important to the American consumer and wouldn’t you like to know which payment methods can save you time?  It’s not as simple a calculation as you might think.

The 20 Richest People of All Time @ The Business Insider: An interesting look at who the wealthiest people have been throughout history.  No one has the kind of money people do these days but when you scale it down, you’d be surprised to see who made the list.

Do Your Kids Have Too Many Toys @ Frugal Dad: I guess this question depends on just how many toys your kids regularly play with.  You can bet though no matter what you take away, that’s the day your kids will want to play with it.

Hotel Alternatives: Save Money When Traveling @ Five Cent Nickel: We’re planning a trip to Orlando for Halloween Horror Nights and rather than staying at an on-site hotel, we’re looking at the just as comfortable Days Inn for $35 a night.

Ignore Your Personal Finance Guru @ Lazy Man and Money: I suspect more gets written about Dave Ramsey these days in the personal finance space than anything else.  Even when the topic is to ignore him, we still talk about him!

And this past week, we participated in the Carnival of Personal Finance.

If you find yourself doing a lot of traveling, having a travel rewards credit card is a must.  When that travel means flying a particular airline, then an airline miles credit card is the way to go.  Airline miles credit cards can offer unique benefits for frequent flyers that most travel rewards credit cards cannot and as the movie “Up In The Air” has shown, the miles can be racked up in the millions.

Make no mistake, choosing an airline miles credit card should be done only if you enjoy flying a particular airline.  Too often, consumers find themselves tied to an airline they have poor experiences with simply because they earn a few additional miles.  Whether your airline of choice is American, Continental, Delta or a few others, we’ve got a co-branded credit card that can make your flying experience much more enjoyable.

Continental Airlines OnePass® Plus Card – Continental is my particular airline of choice and the Continental Airlines OnePass® Plus Card offers new cardholders the opportunity to earn 40,000 bonus miles the first year.  25,000 miles when you make your first purchase, 5,000 miles when you add a second authorized user to the card and 10,000 miles (annually) if you spend at least $25,000 on your card.  The annual fee of $85 is waived during the first year of card ownership.

Moving beyond the basic rewards, you will also receive rewards specific to Continental Airlines.  Your first bag is always checked for free, saving you $25 right away.  You’ll also be given two annual Presidents Club Day passes, meaning you can wait for your flight in style and two discount travel certificates each year.  With travel insurance and extensive purchase protection, the Continental Airlines OnePass® Plus Card is a must have for any frequent flyer of Continental.

Gold Delta SkyMiles® Credit Card from American Express -The Gold Delta SkyMiles® Credit Card from American Express is similar in rewards to our favorite airline miles credit card in that you’ll receive a nice bonus after your first purchase, the annual fee ($95) is waived during the first year AND your first bag is always checked for free when you fly Delta.  20,000 bonus miles are earned after your first purchase and 5,000 bonus miles can be earned if you add two additional cardholders.  2 rewards points are earned on every dollar spent on Delta or Northwest purchases and 1 reward point is earned on everything else.

Virgin Atlantic American Express® Card from Bank of America – Cardholders of the Virgin Atlantic American Express® Card from Bank of America can earn 20,000 bonus miles after making a purchase.  Three miles are earned on all Virgin Atlantic purchases and 1.5 miles are earned on all other purchases.  There is an annual fee of $90 associated with this card and the Virgin Atlantic American Express® Card from Bank of American comes with a variable APR of 13.24%.

Platinum Delta SkyMiles® Credit Card from American Express – The most expensive card to carry on our list ($150 annual fee) the Platinum Delta SkyMiles® Credit Card from American Express provides you one complimentary companion coach ticket each year you renew your card.  In addition, cardholders can check their first bag for free (with up to NINE other members in their reservation), earn 20,000 bonus miles after making their first purchase and an additional 5,000 bonus miles after adding two additional cardholders.

JetBlue Card from American Express – The JetBlue Card from American Express rewards cardholders with 10,000 TrueBlue® points after making their first purchase, which is enough for two one way flights to select destinations.  TrueBlue® points can be earned at a clip of 8 per dollar spent if using your JetBlue Card from American Express at www.JetBlue.com and 1 per dollar spent everywhere else.  There is a $40 annual fee and and there are no blackout dates, so points can be used any-day for any-time.

Southwest Airlines Rapid Rewards Credit Card – As Southwest continues to increase it’s flight destinations, the Southwest Airlines Rapid Rewards Credit Card is becoming more and more attractive.  16 bonus credits are earned after making your first purchase, 8 bonus credits can be earned on balance transfers and 2 bonus credits are earned each year you renew your card.  To translate, 16 credits can be turned in for a flight anywhere Southwest flies and 1,200 rewards points equals one credit.  One rewards point is earned on every dollar spent using your Southwest Airlines Rapid Rewards Credit Card and it also carries a $39 or $59 annual fee.

Citi® Gold AAdvantage® World MasterCard® – At the top of the bonus miles list is the Citi Gold® AAdvantage® World MasterCard® where 30,000 miles are earned after spending at least $750 within the first four months of card ownership.  Unlike others on this, the annual fee ($50) is not waived during the first year and the standard APR on purchases is 15.24%.  For those looking to make international purchases, you will be charged a 3% foreign transcation fee.

Oddly enough, the schools that comprise the Ivy League, eight private institutions located in the northeastern United States (Brown University, Columbia University, Cornell University, Dartmouth College, Harvard University, Princeton University, the University of Pennsylvania, and Yale University) did not receive their name for academic reasons. The term Ivy League, or the “Ivies” was first coined in the 1930’s by Stanley Woodward, a sports writer for the  New York Herald Tribune primarily as it related to intercollegiate sports, namely football.

Years before this term was created, the so-called Ivy members had already been allied in several sports leagues such as basketball and swimming and Ivy athletic directors were used to working with one another in matters of administration. As a result, in 1954 this informal group became official with the signing of the first “Ivy Group Agreement” addressing only football. The agreement resulted in a complete round-robin schedule in football, beginning with the 1956 season which assured seven spots on an eight to ten game schedule to Ivy opponents. This required numerous concessions from each school and signified a great deal of intercollegiate cooperation. It further confirmed the eight school’s observance of common practices in terms of academic standards, eligibility requirements, and the administration of financial aid for athletes.

While football is where it started, today the Ivy League is globally recognized for its high standards of academic excellence, and attracts the brightest students, scholars and faculty. The Ivies have done a fantastic job of maintaining their high academic standards and refusing to compromise in such areas as athletics to advance their respective athletic agendas. At the same time, they Ivies have still been able to compete successfully in Division I athletics. Today, the Ivies are almost always named among the top ten universities in the country. With an acceptance rate of less than 10%, students are clamoring for a spot at one of these prestigious schools. In fact in the 2011 US News & World Report, the eight universities comprising the Ivies all made the top 15 in the national university rankings.

The Ivy League as an institution has done a remarkable job on capitalizing on its reputation and maintaining a strong brand identity. Partly because of the sense of success that the Ivy League name denotes, graduates of these institutions are recruited by the world’s top companies and organizations and form a large, cohesive alumni network. According to people in academia, just being on an Ivy League campus could play a role in securing a high-profile job right out of school.

Ivy graduates are better positioned to know many people in higher up positions because of the network that is essentially at their fingertips. Successful graduates continue to pay “homage” to their alma maters and accordingly, the Ivies rank within the top one percent of the world’s academic institutions in terms of financial endowments ranging from Brown’s $2.01 billion to Harvard’s $26 billion, the largest financial endowment of any academic institution in the world. Naturally, with such deep pockets, the Ivies are able to attract top-notch faculty in their respective fields, enticing them with grants, money for research and endless resources. Additionally, large endowments at these schools result in more funding per student as well as a lower student-to-teacher ratio and smaller class sizes. This gives Ivies the ability to be far more selective in who they admit to their student body, further perpetuating the elitist mentality and grandiose reputation associated with the Ivies.

Some in academia argue that students are paying big bucks for a brand and not necessarily a higher level of education. In fact, many state universities offer similar curriculum as those at the Ivies, yet do not have the same funding and therefore, lack the resources. “When people hear an Ivy League name they associate intelligence, diligence and preparation to that person — just like Macy’s is a brand, or the Republican party,” said Don Asher, author of Cool Colleges for the Hyper Intelligent. In fact, getting in could just be the hardest hurdle to overcome. It is assumed that if you are accepted to a Harvard, Brown or Yale that there must be something unique and special about you. No one would dispute the fact that the academics are probably challenging; however, how much more challenging than at a state school or another national university is yet to be determined.

When you think of getting your next cell phone, Amazon probably isn’t the first online destination that comes to mind. Well, it should be. I’ve been in the market for a new phone to replace my iPhone (more about that in another article). I’ve chosen the Droid X from Verizon Wireless, which comes out in a few days. And here’s the kicker–I can get the Droid X from Amazon for less than I can if I buy directly from Verizon Wireless.

Amazon recently launched a beta version of Amazon Wireless. And as the Wall Street Journal reported, Amazon has been offering many smartphones for less than if you buy directly from the wireless carrier. The Droid X, for example, costs $199 after rebates from Verizon Wireless. Amazon Wireless offers it for $149, and you don’t have to hassle with filling out and sending in rebate forms:

To give you a better idea of the prices available from Amazon Wireless, here are some of its current deals on popular phones (click the image to go to Amazon Wireless for more information on each cell phone):

Samsung Captivate Android Phone

HTC Droid Incredible

Note that the Incredible is selling for $79.99 as of the date of this post.

BlackBerry Bold 9700 Phone

HTC Aria Android Phone

The above phones are just a small sample of what Amazon Wireless offers. The cell phones include free 2-day shipping and a 30-day refund policy. I don’t know if Amazon Wireless plans to offer these deals forever, or if it’s just a way to promote the launch of the site. But I do know this–I’ll be buying my Android X from Amazon Wireless.

You can measure the size of a company any number of ways.  Market capitalization, the total market value of all shares outstanding and profit margin might work for some but you can also measure a company by total value of assets owned.

Today we will look at total revenue, the total amount of gross the company brings in. All of these companies are ranked by their revenue in US dollars. Keep in mind that some of them prepare their books in other currencies, so the dollar value of the revenue they bring in is subject to change based on the exchange rate at any given time.  Also, some companies don’t use the same US calendar, so the list compares a few different years.

1. Wal-Mart – Despite the occasional accusations of worker mistreatment, the retail chain headquartered in Bentonville, Arkansas employs over 2 million people and raked in over $413 billion in 2009.  Wondering what $413 billion means for profit, well Wal-Mart cleared a net income of $14.33 billion.

2. Exxon Mobil – The oil and gas giant comes in a very very distant second, selling slick crude to the tune of $310.5 billion last year.  If you’re looking for a CEO name that fits a company perfectly, look no further than Rex W. Tillerson who heads Exxon Mobil from their Ivine, Texas headquarters.

3. Royal Dutch Shell – The first international company to earn top dollar, Shell comes in third with $278.1 billion in revenue.  Royal Dutch Shell operates in over 140 countries and is headquartered in The Hague, Netherlands.

4. British Petroleum – London based, the fuel giant raked in $246.1 billion last year, several billion of which will go to cleanup costs and settle of claims after this year’s Deepwater Horizon disaster.   After a CEO resignation and a public relations nightmare, it’s unclear how fast (if at all) BP will rebound.

5. Saudi Aramco – Government owned and operated, Saudi Aramco  brought in $216 billion in 2007.  Saudi Aramco also operates the world’s largest single hydrocarbon network, known as the Master Gas System.

6. Toyota – Getting away from oil for just a second, the Japanese automotive manufacturer brought in $205 billion through March of this year.  Similar to BP, Toyota will have quite the task of maintaining popularity through extreme customer complaints.

7. Samsung – The Korean conglomerate sold phones, televisions, and other products to the tune of $178.3 billion in 2007.  When you think electronics, you used to think Sony but like Blockbuster, Sony is now a second or even third rate provider.

8. Chevron – Add another gas giant to the list because Chevron grossed $171.6 billion in 2009.  Chevron trades on the New York Stock Exchange under the ticker symbol CVX and is headquartered in San Ramon, California.

9. Sinopec – The last of the fossil fuel companies making the top 10, this Chinese oil and gas company grossed the equivalent of $165.4 billion in 2007.  400,000 employees make up Sinopec, whose business includes oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products

10. ING Group – Last on our list is a worldwide financial services provider. Amsterdam based revenues amounted to $165.4 billion in 2009 and ING Direct currently offers US customers the opportunity to open a savings account, checking account or CD.

You’ll find that the most revenue generating business among the ten is, by far, fuel.  Companies with work in drilling, extracting, and refining oil and gas make up 6 of the top ten highest grossing companies in the world. Other industries are only represented once on the list.  Those include retail, automobiles, financial services, and one conglomerate.

Of course, whether or not these are the most profitable industries is another story entirely. To figure that out, you would need to know how much of their revenue is going into business costs. And it certainly doesn’t give much indication of how well positioned these companies are for growth, or whether or not investing in them suits your investment needs and strategy. To do that, figure out your financial objectives, and then take a deep look at your strategy for achieving them, and consider the data and management of these companies. When in doubt, consult a qualified professional.