While I totally agree that standard (larger) umbrellas are more sturdy and stylish, I can't bring myself to be burdened with carrying the thing around.
I have a quality compact khaki colored umbrella that is always in my bag. I find the khaki complements whatever color profile I happen to be wearing.
As a student, I do a lot of walking around campus at all hours and tend to get caught in the rain despite what the forecast says. I'm also a fairly small guy, so a smaller umbrella is probably more proportional.