Summer Internship Series: LOLI Beauty

Richa Deshpande is a rising MBA2 interning at LOLI Beauty.  Richa is specializing in Marketing, Luxury Marketing and Management and is VP of Admissions (Luxury Retail club), VP of Events (Stern Chats), VP of SIFF (SISA). 

NYU Stern’s “Summer Internship Series” sheds light into Sternies’ internship experiences. Posts are written by rising MBA2s who are currently working at their summer internship.

This summer I was a marketing intern at a personal care brand called LOLI Beauty. LOLI Beauty is a direct to consumer, ecommerce led superfood organic approach to skincare. I was particularly attracted to LOLI Beauty given its tech focus and plans to win in the direct to consumer space.

Prior to Stern, I was a Management Consultant in Australia and whilst it was a great foundational start to my career, I wanted to transition into an industry (Beauty/Fashion) which was more personally relevant to me and a function which was more customer focused (Marketing).

Therefore, I knew coming into business school, my recruiting would be non-traditional. In addition, as an international student, finding fashion/beauty companies willing to sponsor was a little more difficult. Whilst not always easy, knowing what I know now, I have absolutely no regrets about my decision to come to Stern and pursue a Marketing role at a Fashion/Beauty company.

Here are three lessons I want to pass on to anyone thinking about pursuing a similar path.

It can be difficult not to take the path well-trodden, but totally worth it

I still remember what a classmate said to me as we tried to navigate the perils of Spring recruiting;  ‘We didn’t come to business school to do what everyone is doing, we came to pursue what we wanted to do’. Business school is such a great opportunity to pursue a different career path, it would be unfair to yourself to not pursue your dream. In the Spring it can feel like all your friends have their internships sorted, but remember you are not alone – there are still so many people in the same position as you. Lean on each other for support and guidance. I am so happy I stuck to my goals of what I wanted to recruit for. I know I wouldn’t have enjoyed my summer internship as much had I done what everyone else was doing.

loli beauty bar
Sternies out in full support at a beauty blending bar we hosted

Start-ups really need the structure and frameworks we are taught in business school

Start-ups almost always have more work than people to support the work. Therefore, the environments can often seem chaotic and disorganized. This is where all the frameworks we are taught in our MBA are really useful and really valued. This summer I have helped to develop the marketing plan (using 4Ps), develop the overall firm strategy (thanks Prof. Marciano) and have even deployed some of the people management frameworks from Leadership in Organizations. In developing these strategies, I have seen the value of what I have learnt in the classroom and it has been very exciting to bring it to workplace.

Start-ups are a great place to flex your skills

Although this summer I was hired as a Marketing intern responsible for building the data analytics capability, I have also had the opportunity to be a product manager, brand strategist, and project manager. I have learnt so much from wearing these multiple hats and this is only possible in a start-up. I now have a more well -rounded skillset and have a clearer idea of which types of roles I would enjoy.

In conclusion, I have really enjoyed my summer internship, so much so that I am considering staying on in the Fall. Don’t forget to enjoy this period in your life – such a rare opportunity you get to try something for three months!

Glossy forum
Was fortunate enough to attend the Glossy Forum – an all-day beauty conference featuring speakers from Allure magazine, Glossier, Supergoop, Glow Recipe, Beautycounter and Rodan + Fields

Summer Internship Series: Ernst & Young

Anthony Russ is a rising MBA2 interning at Ernst & Young. Anthony is specializing in Business Analytics, Management of Technology & Operations, and Strategy.

NYU Stern’s “Summer Internship Series” sheds light into Sternies’ internship experiences. Posts are written by rising MBA2s who are currently working at their summer internship.

 

 

January 28th, 2018: two days after my final round interview with EY’s OTS practice.

The Philadelphia Eagles were 1 week away from winning the Super Bowl and on a bye, so there was nothing to distract me from my incessant worrying about how my interviews went. Before going to bed, I did one final check of my emails and . . . 1 unread email from EY. Could this be it? Is . . . could it be the culmination of recruiting season. YES! Although I had two more final round interviews scheduled for the following week, I knew that I was going to accept EY’s offer to join the OTS practice for the summer. The practice offered everything I was looking for in an internship – an entrepreneurially minded culture, the ability to learn the operations of a company inside and out, and experience with M&A. Needless to say, I was a happy man.

Fast forward to May 30th, day 1 of my summer. I was assigned to a Working Capital project for a global life sciences company. On one hand, I was happy to be staffed on a life sciences project. On the other, I was expecting an M&A project but instead was placed on a Working Capital project. While familiar with the concept of working capital, I knew very little about what a working capital project was for EY. After meeting my team and learning about our project, my trepidation turned into excitement. The project was focused on optimizing the clients’ Working Capital (I LOVE optimization work) and my team seemed like an ideal group to learn from due to their experience and personality. Thankfully my first impression was correct. My teammates have been more than willing to answer any questions I have had (and there were a lot), but most importantly, they have trusted me in front of the client once I proved I was capable. For a summer intern new to consulting, that was a huge confidence boost.

Anthony at summer internship outing
An after-work outing with EY colleagues.

So, what did I actually DO this summer? Great question. In ~10 weeks I: worked on a proposal to win our practice new work, assisted in the buildout of an accounts receivable assessment tool for our client, built a Working Capital benchmarking tool now being used practice-wide for business development efforts, built a supplier management tool being implemented globally with our client, and recommended an MBA recruiting strategy for OTS’s IT vertical. I also got VERY familiar with Excel, Alteryx, and Tableau – 3 practical skills that will no doubt be useful in the future. Ironically for a consulting internship, I have only made 10 slides in PowerPoint . . . but I promise they were good slides! I can honestly say that I never expected to be exposed to so much during my summer internship, nor expected that I would learn so much in such a short period of time.

I focused most of my recruiting energy in the fall on the pursuit of a consulting internship and was fortunate enough to land my top choice. I pursued consulting because I wanted a role that would consistently challenge me, a role that put me in a near-constant state of learning, and a role where I was a member of a team. My experience this summer provided all of those things. For those incoming MBA’s who may still be unsure of what roles they want to pursue, or whether consulting is right for them, I implore you to attend as many recruiting events this fall as you can and talk to as many people as you can. One of the biggest benefits of attending Stern is the network. Do not be shy, and utilize that network to connect with alumni working full-time in your industry of interest, with MBA 2’s who had great summer experiences in your industry of choice, and even MBA 2’s who may not have had great experiences during the summer. Each of those perspectives will be important to hear, and will help you decide what internship you want to pursue.

Summer Internship Series: IBM

Adam Shapiro is a rising MBA2 interning at IBM. Adam is specializing in Strategy, Finance, and Entrepreneurship.

NYU Stern’s “Summer Internship Series” sheds light into Sternies’ internship experiences. Posts are written by rising MBA2s who are currently working at their summer internship.

 

As I first began considering an MBA, my professional goals and ambitions were very clear: I wanted to transition into the strategy consulting industry.  I wanted to pursue a career in consulting so that I could continue to work with clients to solve their most complex questions, issues, and problems.  Prior to beginning my MBA at Stern, I worked for Bloomberg in an Internal Strategy capacity.  During my five years there, I worked with financial clients ranging from CEOs to members of HR to manage and solve sophisticated and demanding problems firms face. In doing so, I came to value and embody certain qualities that I believe make the best business leaders: the ability to take initiative, to lead others successfully, to follow through on commitments, and to achieve objectives in a timely fashion. Equally important, I also gained an innate curiosity, a desire and need to learn, and an ability to ask thoughtful questions, listen to and respect others, and understand the complexity of challenges facing businesses. All of these qualities are personified by people working on consulting engagements. I believed that the consulting industry would advance my personal and career development by working with clients to create a lasting business impact, to craft actionable business plans, and to target opportunities for growth.

When I actually began my MBA a little over one year ago, I began recruiting for a summer internship in consulting as early as Stern’s Office of Career Development (OCD) allowed the firms to come to campus.  As I listened to corporate presentations and engaged with practitioners at the different firms, I began to have a better understanding of the differences amongst the firms and, if given the choice, the type of client engagements I wanted to work on during the summer.  The combination of my past work experience in Fintech at Bloomberg, countless conversations with current students, Stern alumni, and consultants, and classes I was taking allowed me to realize I actually wanted to work at a firm with a significant digital presence.

It is hard to believe, but I am, now, over halfway through my summer internship at IBM in the Digital Strategy and iX consulting group.  IBM DS appealed to me because of the group’s unique value proposition.  IBM combines traditional strategic analysis with creative ideation to uncover non-linear opportunities and direct opportunities for clients.  By designing progressive digital strategies through innovation and data analytics, creating future-shaping experience through design, and putting customer platforms to work, I have been able to learn important skills and add value on client engagements throughout the entire summer internship.  I could not have imagined a better summer experience as I have already been able to work on projects such as: reinventing the customer experience journey for a large travel and leisure company, infusing digital into multiple portfolio companies of a large private equity firm, and creating a roadmap for increased data utilization and monetization at a large asset management firm.

My time at IBM this summer has taught me a lot and I’m thrilled that I am exploring this career path.  If you’re considering making a change to enter consulting, from where I sit, Stern is a great place for you to make it happen.

Summer Internship Series: Mastercard

Jasmine Reliford is a rising MBA2 interning at Mastercard this summer. She is a Consortium Fellow, serves on the Community Service Committee within Stern Student Government (SGov), and is the VP of Admissions for the Social Impact and Sustainability Association (SISA) and the VP of Corporate Relations for the Association of Hispanic and Black Business Students (AHBBS).

NYU Stern’s “Summer Internship Series” sheds light into Sternies’ internship experiences. Posts are written by rising MBA2s who are currently working at their summer internship.

Once a Girl Scout, Always a Girl Scout

For as long as I can remember, I have been driven by the force to do “good”. This drive comes from my 12 years as a Girl Scout—there are stories my mom could tell you of kindergarten Jasmine boxing up her Christmas gifts and birthday presents to donate them to the children’s hospital or the homeless shelter (a tendency that I continue to this day). This innate drive to change the world around me is all consuming, yet has evolved over time. I have become more sophisticated and tactical in how I hope to enact change in the world.

It is estimated that it will cost up to $70 Trillion to achieve the Sustainability Development Goals (SDGs) set by the UN.  The capital throughout the private and government sector far surpasses that of the social sector. A social impact person going to a top finance program always results in a “oh that’s interesting…” from those who do not understand the ethos of Stern or how businesses are evolving.

Learning How to Disrupt the Social Impact Business Models

In my Stern application, I spoke of the allocation of capital and how it effects mobility out of poverty, access to healthcare and education, and so many more other causes I am passionate about. The landscape of how players are engaging with the communities they operate in is changing; defining CSR initiatives such that they are integrated into bottom line results is top of mind for a lot of corporations. Balancing altruism and monetization could be viewed as opposing philosophies, but learning how to meld them into a cohesive strategy is why I chose Stern.

A social mindset is instilled in you the first week of LAUNCH—former investment bankers, consultants, and marketers rally to determine a sustainable business solution that solves a societal need. This push to think creatively towards not only business issues but world issues is the embodiment of Stern. The products and business models that are emerging are shifting the way businesses, governments and society all come together to uplift every facet of humanity. When I see innovations such as Rent the Runway and Lyft, I see disruptors forcing their industries to move towards sustainable fashion and how to provide gig workers a way to engage in commerce in a way never done before. Stern is a space where ideas come together to create the future world around us.

Doing Well by Doing Good

I chose Mastercard for my internship because of my background in payments, the Stern network throughout the firm, and, most importantly, because of their commitment to financial inclusion. They have dedicated resources and expertise on focusing on how to bring the poorest people around the world into the economy through payment systems, blockchain solutions, healthcare innovations, and startup capital. An EVP, and Stern Alum, once described the CEO as a “social justice warrior working in the private sector”. Between that description and a Mastercard campaign with Beyoncé, I was sold for my summer internship.

Few for-profit organizations have integrated social considerations in to their strategy so intricately. For Mastercard, doing well by doing good is more than a tagline, it is literally a way of life for small (or micro) merchants and entrepreneurs who historically had challenges accessing capital and engaging in commerce; you cannot capitalize on the internet of everything if the financial system does not include everyone.

Mastercard is among the leading firms to merge altruism within their business model. I am grateful I get to intern for a company that is continuing to innovate in a way that this former Girl Scout can get behind. The leadership of Mastercard believes doing well by doing good is the future of business—and it is.

Read More on What Mastercard Does in the Financial Inclusion Space

Mastercard & Financial Inclusion

Mastercard’s Center for Inclusive Growth

Summer Internship Series: PricewaterhouseCoopers

Urboshi Pal is a rising MBA2 interning at PricewaterhouseCoopers. At Stern, Urboshi is specializing in Strategy and Leadership & Change Management. Outside of classes, she leads Stern Women in Business (SWIB) as one of the 2018-2019 Co-Presidents and is also a Graduate Ambassador on the MBA Admissions team.

NYU Stern’s “Summer Internship Series” sheds light into Sternies’ internship experiences. Posts are written by rising MBA2s who are currently working at their summer internship.

It’s Monday morning, and I’m finishing up my last few sips of coffee before heading out the door for the week. I tuck my heels into the front pocket of my suitcase and slip on my comfy flats for travel. With my Amtrak app pulled up on my phone in one hand and my Metrocard ready to go in the other, I take one quick look around the apartment before closing the door behind me. By now, I’ve got down the most efficient route to Penn Station from my apartment, so in a matter of 20 minutes, I’m walking onto the train and settling in for a quick ride to Trenton, NJ…welcome to the consulting commute!

This summer, I’ve been working as a Senior Associate Intern at PricewaterhouseCoopers (“PwC”) in their People & Organization Practice within Health Industries Advisory. PwC is a multinational professional services firm that offers its clients a broad range of assurance, tax, and advisory services. Within Advisory, there are five major industries: Consumer Markets, Industrial Products and Services, Technology, Media and Telecommunications, Financial Services, and Health Industries. Cutting across each industry are practices specializing in specific consulting capabilities, like People & Organization. Health Industries Advisory People & Organization, or HIA P&O for short, focuses on strategy, human capital and talent management, and change consulting projects for clients across the healthcare industry.

I’ve been traveling each week to our client’s offices outside of Philadelphia to work on the change management work stream of a large-scale technology transformation. As an MBA intern, I’m expected to own my work from Day 1, making for an especially engaging and productive experience. It’s been really interesting to see real-world applications of concepts and theories we’ve discussed in the classroom. In particular, I see lots of parallels in my client work to cases we’ve discussed in Leadership in Organizations with Nathan Pettit and Strategy with Sonia Marciano. I feel that I’m able to contribute a unique perspective to my team as a result and hopefully add value to the overall work stream during my short tenure on the project.

While it was certainly an adjustment as first, I’ve fallen into a comfortable routine with the Monday-Thursday travel. I’m typically at our client’s offices from 8:30 AM – 6:00 PM, and I stay at a nearby hotel during the week. We usually sneak in a team dinner or two and leave the other evenings open for working out, relaxing, or catching up on non-client work. I return to NYC on Thursday evening and spend my Fridays in PwC’s newly renovated offices by Bryant Park. After checking in with my client team to make sure we’re squared away on work for the week, I catch up with some of other NYC-based HIA P&O folks and listen in to our practice-wide knowledge sharing and development calls. There are 15 Sternies at PwC this summer, so it’s also been great to learn about the different projects everyone is working on over drinks or dinner at the end of the week.

Celebrating with the HIA P&O team at PwC’s Promotion Day . . .
Hanging out with a few of the PwC Sternies before hearing Tina Fey speak at Promotion Day! (L-R: Ross Parket ’19, James Maresco ’19, Tess Taylor ’19, Naqiya Hussain ’19, and me!)

 

 

 

 

 

 

 

 

 

 

 

If you’re interested in consulting as a post-MBA career, I’m sure you’ve already heard the standard recruiting advice: start doing cases early and frequently, reach out to lots of consultants at your target firms, attend every firm-sponsored event, etc. While all of that is definitely important in making sure you’re prepared to do your best at the interview, it doesn’t really help you make the most of the summer once you’re in. My advice is to use the recruiting process to find the firm that’s the best cultural fit and be true to yourself about what’s most important to you. Consulting is a challenging yet incredibly rewarding lifestyle. By finding people you feel comfortable with and values that resonate with you, you’ll position yourself to take advantage of all that a top consulting firm has to offer, and hopefully have some fun along the way!

It’s been wonderful getting to explore a new city for the summer – hello Philadelphia! View from our hotel during a team offsite event

Crisis Simulation in the Leadership Development Program

“In the real world” is a phrase that you hear all too often as a student. Sure, you learn all of the theories and principles about Finance, or Marketing, or any other subject. But what does it actually look like in the real world?

This past semester, I had the opportunity to take many of the principles that are taught at Stern and apply it to a real world setting as part of the Leadership Development Program (LDP). One of the main reasons why I chose to pursue my MBA and specifically go to Stern was to have the opportunity to focus on learning principles of leadership which I will be able to apply to my future career. Naturally, I applied to be a part of LDP to make that a reality.

The first major programming for LDP was a crisis simulation, which put groups of students in a potential real-life scenario. In this scenario, we were given a real company, and each student would assume the role of a different executive. We were briefed with a developing crisis situation and placed in a “war room”. Over the course of the next 3 or 4 hours, the phone in the war room would ring and we would learn new information or be connected with new people, such as an ambassador to a foreign country, police chief, or news reporter. We were tasked to respond to everything coming in and communicate out our plan.

To some people, perhaps this exercise wouldn’t feel “real” enough, or they wouldn’t take it completely seriously. But in our war room, we were the company executives, and this was a real crisis that we were facing. Although our team didn’t win for the best overall response to the day’s action, it was still an incredible experience. The most important key to making this activity a success was the buy-in by everybody. This is why I have enjoyed my experience with LDP so far. Everyone in the program is committed to learning more about themselves and becoming a better leader.

One of the great things about Stern is that you don’t need to caveat what you learn by how it would be in the real world. The school gives you ample opportunity to know how everything does work in the real world. Whether it is the crisis simulation, experiential learning, guest speakers, or even the impressive resumes of our own professors, we are constantly exposed to learning about real applications of the many principles that are taught in the classroom. I know that these experiences will better prepare me to be a member of the Stern community, my internship this summer, and my career and life after Stern.

Post by Farah Karim

While we all come to business school to hone our analytical or quantitative skills, build upon the experiences we had while working or switch careers, another reason we come back to school is to learn from others. At Stern, I have had the opportunity and pleasure of taking classes taught by the most well-known professors in their respective fields: Aswath Damodaran, Scott Galloway and Charlie Murphy. I’ve learned Corporate Finance, Brand Strategy and all about Financial Services. I have also learned what it means to be an adult, what it means to live life and what it means to succeed in the real world. As Sternies, we want to succeed in our personal and professional lives. We want to become CEOs of Fortune 500 companies. We want to be the next big leaders, following in the footsteps of the greatest.

But, how did they get there? I truly enjoyed attending every Charlie Murphy lecture last semester, especially because it taught me exactly what investment bankers do, something I did not understand before. My favorite Charlie Murphy lecture was our final class and the end to his last fall semester. Not only did we learn about the financial crisis and how the housing bubble burst, but we also learned Charlie Murphy’s top 10 life lessons. It was unforgettable, and my friend and I left the classroom still talking about how we can apply these life lessons in our careers.

I impart on you the wisdom that I have learned from Charlie Murphy:

  1. When you start work, differentiate yourself – “physical not digital”
  2. Have empathy
  3. Have humility
  4. Don’t have kids if all you care about is your career
  5. Live your life, not somebody else’s
  6. Take risks now
  7. Have a hobby
  8. When you start, work hard, but don’t take on more than you can
  9. Create your network
  10. Figure out how to spend more time with the CEO / people at that level

At Stern, you are constantly learning how to improve yourself personally and professionally. With exciting projects, exciting class topics and truly inspirational professors, the opportunities to grow yourself at Stern are endless. Stern really is an “education in possible.”

Reflections on First Semester

Reflections on First Semester

I chose Stern partly for the obvious reasons. It is a top MBA program that is well-respected and has a robust alumni base in my industry of focus. More, my wife and I relished the opportunity to move to New York and have a new adventure after calling Boston home for 8 years. However, it was the people I met during my interview on campus that really sold me on attending Stern. I vividly remember walking into KMC through the Bobst entrance and being warmly greeted by the security guard. After he let me in and wished me luck, I ran into multiple Sternies on my way to the admissions office all of whom went out of their way to welcome me to Stern, give me advice and wish me luck. From that moment, I knew Stern was the place for me.

Fast forward to August. I am fresh back from my honeymoon and ready to dive into LAUNCH. The days leading up to LAUNCH were filled with anticipation, excitement and nervousness. I was excited to begin my MBA journey and to meet my classmates, yet nervous about how I would get along with everyone and how I would fit in. About 10 minutes on campus, those nerves were replaced by a feeling of comfort and belonging. The feeling I had was the same as I experienced during the day of my interview.

After LAUNCH, first semester is a blur. Instead of days filled with team building events, workshops, and happy hours I now had class, recruiting events…and happy hours. Moreover, recruiting begins in earnest. Particularly for those of us recruiting in the fall, first semester is daunting. The best part about it is everyone is going through a similar experience and that shared…misery?….is something that helps further solidify relationships. Before I knew it, the first semester was over and it was onto winter break.

Returning to campus at the end of January (January and interview season can be a post all on its own) is a special experience. The feeling I had right before classes started was similar to the feeling I had at LAUNCH, except the nervousness was replaced with excitement. Seeing your friends after a month, hearing about their travels and interviews and time off over a beer (or two) is GREAT. Also, second semester is less structured than the first so I had the opportunity to craft my own schedule, get involved with different activities and meet more people than the fall.

Hopefully I have been able to convey that I have truly loved every moment of my Stern experience… even the recruiting and finals. The academic programs are top notch, the faculty and staff are the best around, and you cannot beat the location. However, it is the students that truly separate Stern from its peers. My initial intuition served me well, and if I had to make the decision all over again it is safe to say I would make the same one again.

Post from Shante Frazier

Over the winter break, I had the opportunity to explore three different countries: Colombia, Costa Rica, and Scotland. I went to Colombia for a wedding, Costa Rica for a Doing Business In (DBi) class, and Scotland for a Stern Signature project. Although packing for three different climates was a challenge (imagine boots, flip flops, sunglasses and thermals in one checked bag) I would not trade the experiences I gained from each trip for anything.  

My break began with me meeting up with classmates in Colombia. We flew to the country to celebrate the wedding of a classmate who I met during the Consortium’s orientation program. I always knew that the most valuable part of business school was the relationships you built but this trip solidified that fact. We spent a week laughing together, partying together, and crying tears of pure joy as we watched our friend marry his best friend. The trip was amazing and it made me realize how I lucky I was to find such a strong community Stern.

After leaving Colombia I flew to Costa Rica for a DBi class. The class, which focused on sustainable development, took place at the INCAE Business School. We had the opportunity to learn more about the rice and coffee industries through case studies and site visits. We also learned more about the tourism industry and the tough questions that come along with it. Overall, the trip was a great learning experience and a fun way to build new relationships with classmates outside of my social circle.

My last trip was to the Outer Hebrides in Scotland. I went there for a Stern Signature Project, which is a program that pairs students with companies or organizations to help solve a problem. The company my team was assigned to work with was the Carloway Mill, one of the last three mills that produces Harris Tweed. My team was able to explore the island to see where the inspiration for the designs came from while interviewing key stakeholders. The town we stayed in had a population of 500, so it was completely different from our NYC experience. It was nice to be able to immerse ourselves in the culture so that we could have a better understanding of the mindset of the weavers and producers. The knowledge we took away from the trip was much more than we could have ever gained from a case study. We left excited about the relationships we had built and the ideas we had generated.

My classmates and I returned to classes and the halls were full of students exchanging stories about their Winter travels. Although I feel like I accomplished a lot during my 30-day winter break, my journey pales in comparison to the journeys of my classmates. It’s so exciting to hear about the diverse experiences and to see all the exciting things that everyone is working on. It’s clear that no one was truly “breaking” this winter.  

 

Summer Internship Series: Macquarie

EF_HeadshotEvan Foo is a rising MBA2 and interning at Macquarie this summer. He is specializing in Finance and Leadership & Change Management and is a member of the Asian Business Society, Graduate Finance Association, and the Stern Private Equity Club.

NYU Stern’s “Summer Internship Series” sheds light into Sternies’ internship experiences. Posts are written by rising MBA2s who are currently working at their summer internship.

Stern Transition
Growing up, I did not imagine I would one day be working in a bank. My journey has taken me from a budding entrepreneur in Silicon Valley, a venture capitalist for the Singapore government and a CEO of a wireless speaker business to becoming a student of finance at Stern and in Wall Street. Prior to Stern, I had developed a keen understanding of early stage business and finance, but wanted the complete picture of the corporate lifecycle, and resolved to learn firsthand Wall Street’s role in shaping global companies and markets.

With its reputed strength in finance and location in the heart of New York City, Stern provided the perfect opportunity to make this transition. Connecting these dots in my career led to my summer in investment banking with Macquarie being an ideal platform for continued development.

Choosing Macquarie
One of the first considerations when recruiting for investment banking is to understand the nuances of each firm, and where your fit lies. I was first attracted to Macquarie because of its unique merchant banking function, under the Principal Transactions Group (PTG). Macquarie not only provided transaction advice and debt financing, but could also use its balance sheet to make equity investments in companies. Macquarie thus offered the best of both worlds and slightly more. The stability and resources of a bulge bracket bank, the work experience of a boutique (through leaner deal teams) and the ability to forge unique relationships with clients and sponsors.

The second is to determine what you want from your summer experience. The leaner teams at Macquarie provided the hands-on experiences I was looking for. Being able to work directly with Managing Directors, build models and interact with clients were big draws for me. Having gotten along well with the bankers from the firm and demonstrated technical competency for the job, I was offered a summer associate role in the Financial Institutions Group (FIG). The managing director of the fintech team was from Stern, and I looked forward to working with him.

Macquarie Experience
Walking past the revolving doors for the first time, tales of endless summer work and play from predecessors set the foundation on which expectation was built. My peers comprised of former investment managers, bankers, models, and engineers, yet everyone started on a level playing field during the first week of training. Soon we would be caught up in the whirlwind of work, volunteering, baseball games, charity runs and summer outings to managing directors’ homes, all of which presented various aspects of life in the industry. Staffers (typically Vice Presidents in charge of assigning projects and managing work flow within a group) protected our time for such events that not only provided reprieve from work but also an opportunity to deepen relationships with colleagues outside the work environment. Playing soccer with colleagues before dipping into the pool on a hot summer day was a personal highlight. All in a day’s work.

Food menu from a summer party.
Food menu from a summer party.

The workspace was aptly called the bullpen, the arena where everyone sat, from analysts to managing directors. Observing first-hand how a managing director operates and manages clients daily was already a key learning point for me. My day-to-day responsibilities throughout the internship would evolve from due diligence and industry research to managing analysts, building financial models, and co-leading a cross-border buy-side deal. The buy-side transaction offered the deal experience I had so desired, as I was involved in a critical stage of the deal and worked directly with a managing director. Another project with the PTG team was a welcomed bonus and it provided additional exposure across groups.

Take-aways
Walking past the revolving doors for the last time, it was comforting to know my contributions were appreciated and recognized by my team. Our buy-side progressing to the final phase made all the hard work pay off. Make no mistake about it, investment banking is a demanding job, the people we work with and the contacts we can call on make all the difference. I am therefore very thankful for the support provided by the Stern banking community in my group, firm, cohort, and across Wall Street, that has helped define my recruiting process and summer experience. In the same way, I hope to pay it forward.