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My Experience in the NYU Impact Investing Fund

Isabella Felipa Schumann is a recent graduate who specialized in Corporate Finance and Strategy. Prior to Stern, Isabella spent three years in development at The Metropolitan Museum of Art, followed by two years as an investigative consultant at K2 Integrity. During her time at Stern, Isabella was a summer associate at Partner’s Group, a private equity firm, and during the academic year, she served as an MBA associate at Connectivity Venture Funds, a venture capital firm based in New York. Additionally, Isabella participated in a variety of experiential opportunities offered at Stern, and was AVP of Sponsorship of Stern’s PEVC Club. Isabella now works at Global Atlantic Partners as VP of Strategy and Business Development in NYC.

When I started my MBA journey in 2021, I was interested in exploring opportunities in the investment space, but as someone with a non-traditional background, I was unsure where to start. I knew that NYU Stern would provide me with endless opportunities to explore investing, develop relevant skills to succeed in the space, and take career risks that I may not have taken otherwise. One of the defining experiences of my time at NYU Stern that allowed me to do all three things was the NYU Impact Investing Fund (“NIIF”). 

Why NIIF

I have always had a passion for social impact which has manifested itself through community service work, pro-bono consulting with a focus on social enterprises and female-founded startups, and working in nonprofit organizations earlier in my career. NIIF was the perfect way for me to explore the intersection of a personal passion of mine and my professional ambitions. Additionally, I had the incredible opportunity to work with peers from Stern, NYU Wagner Graduate School of Public Service, and NYU Law School. Being part of a group of dedicated and ambitious individuals from different backgrounds was a huge part of what made NIIF such a great experience. 

Getting Involved

NIIF is the only MBA student-run venture organization in the country, which means that NIIF invests real money into real startups that we as participating students are sourcing, completing investment diligence on, and pitching to the investment committee. The program is structured as a one-year course through Stern and participation starts with an application the Spring before the Fall semester start date. Once you begin with NIIF, you are split into teams representing six different verticals – financial inclusion, environment, healthcare, aging, education, and food systems. I was a member of the education deal team along with five other peers. 

Phase I: Investment Thesis

We began our semester by developing an investment thesis highlighting the areas of education that we would like to invest in and other non-negotiables for NIIF, including a founding team representative of the community the company serves, and demonstrated impact in lockstep with revenue. From here, our team tapped into our networks to identify impact-driven early-stage startups that were actively raising a new round of fundraising. Once potential targets were identified, the team interviewed the founders and identified the companies that were most aligned with the team’s understanding of impact and the expectations of NIIF’s investment committee. 

Phase II: Due Diligence

The second stage of the process is defined by a funneling process where each deal team presents their chosen company to the other teams and to the investment committee. From there, two deal teams are chosen to continue with the NIIF investment process while the other teams are split between competing in the MBA Impact Investing Network & Training (“MIINT”) and managing previous investments made by NIIF. As a member of a deal team chosen to move forward in the NIIF process, this third phase was followed by a longer due diligence process where my team and I spent the coming months working with the NYU Law School clinic and the founder of our target company on the complex due diligence process. This included legal, financial, impact, and competitor diligence and identifying relevant investment risks in each of these areas. This was where we were challenged the most as a team, and pushed outside of our comfort zones to understand and evaluate different areas of the business. 

Phase III: Presentations

Finally, our team was one of two that pitched a target company to the NIIF Investment Committee in an in-person meeting with the three committee members and the support of our peers. The presentation featured information on our company, deep dives into the diligence that we completed, an emphasis on the demonstrated impact of the company, and a complete risk analysis with insights on how to minimize risks. By the end of the week, we were notified of the investment committee’s decision on which of the two deal teams had received NIIF’s investment. 

The entire process closely resembled the various investment processes that I have seen in both the private equity and venture capital spaces. I was able to see many parallels between my work at NIIF and what I have seen in various internship opportunities across investment firms. I can confidently say that my NIIF experience will not only be a highlight of my time at Stern, but will also be instrumental in my career development. 

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Embracing a New Adventure: My Journey to Intern at Microsoft in Seattle

Daniela Rios is a current Full-time MBA student, specializing in Marketing, Tech Product Management, and Strategy. Prior to Stern, Daniela worked at an advertising agency in HR. Post-MBA, she plans to pivot into marketing at a Tech company. At Stern, she is involved in the Association of Hispanic and Black Business Students, Stern Technology Association, Student Government, and Stern Women in Business.

 As I sit here, packing my bags and preparing to embark on an exciting journey, I can hardly contain my excitement. In just a few short days, I’ll be heading to the vibrant city of Seattle, ready to dive into a thrilling three-month internship at Microsoft. Today, I want to take a moment to reflect on the incredible experiences and support I received at Stern that led me to this remarkable opportunity. Get ready to join me on an adventure filled with growth, perseverance, and the unwavering assistance that Stern provided along the way.

 From HR to Marketing: A Bold Transition

When I entered business school, I set out to make a daring shift from HR into the dynamic world of marketing. I’ll be honest, it felt like stepping into the unknown, and doubts crept in about the relevance of my HR skills. But Stern had a pleasant surprise in store for me. I soon realized that the insights gained from conducting exit interviews to enhance employee retention could seamlessly translate into understanding customers’ needs and preferences. Who knew my HR expertise had marketing potential?

The Consortium, Early Recruiting, and Microsoft

Stern’s affiliation with the Consortium for Graduate Study in Management proved to be a game-changer in my journey. Through this exclusive network, I had the privilege of participating in early recruiting opportunities and was able to attend the Consortium’s signature event: Orientation Program. This opportunity led me straight to Microsoft’s door where I was connected to a marketing hiring manager. The excitement that surged through me when I received the internship offer months later was indescribable. It was validation of the hard work, dedication, and passion I had poured into my studies and career.

 Navigating with the Careers Team

Now, let me share the secret ingredient that boosted my confidence and guided me throughout the internship pursuit: Stern’s Careers Team. This incredible team provided me with a treasure trove of resources, including interview workshops, resume feedback, and even mock interview sessions. With their support and guidance, I walked into each interview room prepared, polished, and ready to showcase my skills. It was like having a personal squad of career champions by my side, every step of the way. Shoutout to Genevieve and Fatim for being the best!

 Alumni Talks: A Game-Changing Experience

When it came time to choose between Microsoft and another company, I found myself at a crossroads. In those moments of uncertainty, Stern’s alumni network became my guiding light. I reached out to Stern alumni working at both organizations, seeking their invaluable insights. Their firsthand experiences, knowledge of the work culture, growth opportunities, and overall fit within the companies proved instrumental in making an informed decision.

 Ignite Program: Igniting the Flames of Success

Before embarking on my official journey at Stern, I was able to immerse myself in the Ignite Program. This pre-MBA summer initiative equipped me with a powerful arsenal of professional skills. Through engaging workshops and personalized guidance from incoming MBA 2s and career coaches, I honed my ability to craft compelling pitches and tackle behavioral interviews with ease. This transformative experience ignited a fire within me, fueling my confidence and positioning me for success in the early recruiting events that awaited me.

 The Stern Squad: Friends, Encouragement, and Camaraderie

Last but certainly not least, I can’t help but express my deep appreciation for the incredible friends and the tight-knit community I found at Stern. The unwavering support, encouragement, and camaraderie transformed my experience. Whether it was lending a listening ear during challenging moments or cheering for every milestone achieved, the Stern community became my pillar of strength. The collaborative nature of Stern fostered an environment where we could freely exchange ideas, seek advice, and grow together as a united front.

 Conclusion

As I prepare to embark on this exciting new adventure with Microsoft, I am filled with a sense of gratitude and excitement. Stern has played an integral role in shaping my path, providing me with resources, connections and the support I needed to reach this milestone. It is a testament to the transformative power of education and the incredible opportunities that await those who are willing to chase their dreams. I am ready to make the most of this internship opportunity and contribute to the innovative and dynamic world of marketing at Microsoft!

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Reflections on My Recruiting Journey: How Stern Can Help You Land Your Dream Internship

Ria Jambusaria is an MBA2, specializing in finance and sustainable business and innovation. Prior to Stern, Ria worked at EY in their financial statement audit service line. This summer, Ria interned at Credit Suisse as an Investment Banking Summer Associate and will be continuing to work in investment banking post graduation. Additionally, Ria is a Managing Editor of the Stern Oppy and a Co-Portfolio Manager for the ESG Fund of the Michael Price Student Investment Fund.

 

Whenever I told someone I was planning on recruiting for investment banking, I would be greeted with a look that clearly said, well, you’re in for a roller coaster of a first semester!

And so it was! The recruiting process for banking is no easy task, but the Graduate Finance Association (GFA), the Office of Career Development (OCD) at Stern, and the great Stern alumni network certainly made it less intense and I could not be more grateful. Speaking with my friends who recruited in consulting, technology, or entertainment and media, I know they have also benefited from the professional clubs here at Stern as well as the expertise of OCD.

How it Works

For banking, the recruiting is quite structured – a result of Stern’s proximity to Wall Street and its great relationship with all the major bulge bracket and boutique banks. Even as an international student, I had the opportunity to recruit with a large number of banks. With Wall Street and Midtown, only a few subway stops away, I was able to visit their offices and meet the teams which allowed me to get an outsider’s view of their culture.

Recruiting involves A LOT of networking and this is made easier by Stern’s connection with the banks. Stern alumni from these banks come to campus for corporate presentations which allow students the opportunity to meet directly with senior bankers. If this sounds nerve-wracking, keep in mind that the GFA helps out first-year students with best practices so that we can be prepared when presenting ourselves to representatives from these banks. The GFA works tirelessly with these companies to bring them to Stern for corporate presentations and “Host a Deal” events where current employees talk about how some of their major deals came to be. 

OCD Resources

The OCD also has several resources that help with recruiting, and they hit the ground running before the first semester even starts. OCD begins with resume reviews and helps students figure out the best path for them. In the first semester, OCD has regularly scheduled programming aimed at helping students with their thirty and sixty-second pitches, networking, and interview skills. OCD also holds office hours regularly and students can set up appointments with its marvelous career coaches to discuss anything from resumes, interviews, offers, or even to have mock coffee chats and mock interviews. I found the appointments with career coaches to be especially helpful for practicing my coffee chat skills. As an introvert, I found the idea of networking quite daunting, so the opportunity to practice those skills in a low-stakes environment was great!

Coffee chats are the best way of getting to know the alumni and the senior bankers and I had somewhere between sixty and eighty coffee chats throughout the fall semester! It may seem like a lot, but I found the networking and the one-on-one chats were essential to help me understand how I would fit into a particular bank and whether they could offer me what I wanted. It also helped me build connections at banks and showcase myself as a candidate for them, which can be crucial when applying for internships.

Banks also have group networking events in the second half of the fall semester, which was another opportunity to meet senior bankers I had not spoken with before, and learn about their experiences in the industry, which were invaluable when I was deciding on where I should do my internship. I have found the Stern alumni to be open and communicative, always willing to share their stories.

Interview Prep

GFA and OCD are amazing with interview prep as well. It is a testament to the strength of the community here at Stern that several MBA2s take time out of their winter break to help us by doing endless prep, and sharing their experiences and resources to get us ready for both the behavioral and technical portions of the interview. I can safely say that without the help and encouragement of my seniors as well as the career coaches in the OCD, my interviews would not have gone half as well as they did!

Community Support

Apart from the internal resources that Stern offers as well as the massive help we get from MBA2s, something that was instrumental in my recruiting journey was the peer network at Stern. Just talking to people who are recruiting in the same industry or who have had experience working with companies you might want to work for can provide vital information you might need on your recruiting journey.

Overall, the Stern community made what could have been a daunting recruiting process into a memorable experience that was vital to my professional as well as personal growth.

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Reflections on My Summer Internship at McKinsey

Jane Kennedy is an MBA2, specializing in strategy, entrepreneurship, and data analytics. Prior to Stern, Jane worked at REFORM Alliance, a criminal justice reform non-profit. This summer, Jane interned at McKinsey in Washington, DC and will be returning there after graduation.  Additionally, Jane is involved in the Management Consulting Association, SGOV, and the NYU Catholic Graduate community.

The leaves are changing, the sun is shining, and I’m back at Stern to kick off my second year! It’s wild to think about how much has happened since last fall. I remember so vividly being on campus for LAUNCH Orientation, sitting nervously in the first Management Consulting Association (MCA) bootcamp session, and attending as many events as possible to meet new friends. Now, it’s the MBA1’s turn to experience the flurry of excitement, anxiety, and activity that is the first semester of business school – and I’m thrilled for them.

 It was in that first semester that so much of my internship process happened. Coming into Stern, I was set on pivoting into consulting after a couple of years in tech and a couple of years at a criminal justice reform nonprofit. I knew that the road ahead of me was going to be challenging – learning to case is not for the faint of heart! Still, I saw how dedicated the MBA2s were to our success, and their encouragement and coaching carried me through the fall and through recruiting season, all the way to receiving my dream internship offer: a summer at McKinsey’s DC office!

I had lived in DC before school, and so I knew what to expect when it came to living in the District. But a summer of consulting? I had no idea what it was all about.

During our first week, we traveled to a training where we got to meet other interns from a few offices. It was a crash course in all things McKinsey. I learned about their problem-solving method, worked with a small group to “crack” some fascinating cases, and spent time with managers at the firm, soaking up all their wisdom and advice. Then, it was back to DC where I would meet my team and get to work.

Consulting is a nebulous field, and no two days are the “same,” however, I saw that there was a pattern to the work we did. At the top of the week, we would jump into working on a specific question or area of the overall problem to solve. I would do research, conduct interviews, build analyses, and lay out the findings on pages (what McKinsey calls slides). We had frequent meetings with our clients, where we would share our progress and receive continued guidance as we worked towards our final deliverables. The work was fascinating and engaging. My brain was “on” all day, and there were many days that left me stunned by how much output we had created in just 8 hours.

 I loved my summer at McKinsey, and (because I’m a consultant now!) I’ll break it down into three reasons why. 

First, my team was deeply invested in my development. 

They spent copious amounts of time helping me figure out what I was doing, offering feedback and coaching on my work, and giving me opportunities to shine in front of partners and clients. My team was hands down the best part of the experience. 

Second, I was able to do “real work.” 

Many times, interns are relegated to the back row and given “play work,” but that was not the case for me this summer. I was able to lead my own workstream and offer solutions and suggestions that helped the team shape our approach.

Third, I had tons of exposure to experts and firm leaders. 

Not a week went by that I didn’t present some aspect of my work to a partner or senior partner. I was encouraged to build relationships with not only our project’s leadership, but with partners across the firm. This “flat structure” allowed me to see so much more of the firm and it helped me feel even more excited to accept McKinsey’s full time offer and return as an Associate after graduation!  

I’m so happy to be back on campus and in the classroom this year, and I’m especially excited to help the MBA1s as they embark on their own internship journeys. I hope that every Sternie can find a role this summer that challenges them to be their best and leaves them more confident and encouraged than when they started out. We’re all in it together!

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Summer Internship Series: EY-Parthenon

Brandon Quinn is an MBA2 specializing in Strategy and Business Analytics. Prior to Stern, Brandon worked in financial regulation where he examined some of the largest US brokerage firms. At Stern, Brandon serves as a Graduate Ambassador, Career Fellow, VP of Admissions for the Management Consulting Association (MCA) and VP of Marketing for the Business Analytics Club (BAC). 

Consulting recruiting is a time consuming process that begins as soon as you step on campus to start the MBA program – or in a pandemic, as soon as you log into Zoom for that first class. Students attend various corporate presentations, coffee chats, and case workshops to learn about the different firms and to prepare for the case interviews. We put in all this effort to land a coveted consulting internship, which will hopefully turn into a full-time post-graduation offer. 

I spent my summer at EY-Parthenon in their strategy summer consultant program. I was assigned to the New York office, but the internship was almost entirely virtual. There were a few days I decided to go into the office to see where I would be working, to meet some colleagues face-to-face, and to attend some in-person happy hour events. 

The first week of the program was comprised of various training sessions to help us get accustomed to the firm, learn about the different types of projects, and build our consulting toolkit. After the first week of training, all the interns (including me) were eager to find out which consulting project we would be working on to start the summer. I was assigned to a working capital engagement at a large cosmetic company. Coming from a finance background, the cosmetics industry was a bit foreign to me, but this is what excites me about consulting. Consultants solve some of the most complex problems at some of the largest corporations and work across various industries that might initially seem foreign to them. 

A typical day as an intern on a project consisted of a daily check-in call with the team where we laid out all our objectives for that day. After this call, we split into our workstreams to accomplish the goals for the day; I spent time assessing and prioritizing new markets for expanding one of the client’s programs globally. There was also a daily call with the client where we would present recommendations and make sure everyone was aligned. 

In addition to the real-world project assignment, interns were put into case teams where we worked on two mock projects with EYP practitioners as coaches. This was a great experience to get a flavor of the different types of projects offered at EYP—this also aided in building comradery among us interns and helped us feel more engaged and connected in the virtual environment. The work was challenging and EYP offered an abundance of support through functional training, mentorship, coaches, and sector spotlights. Overall, this was an incredible experience and made the time-consuming recruiting process well worth it!

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Summer Internship Series: Morgan Stanley

Kushal Mehta is a current MBA2 at NYU Stern. Prior to Stern, he spent 6 years in the Bay Area where he worked at Deloitte in the Audit practice and at Uber in an accounting function. This summer, Kushal interned within Morgan Stanley’s Investment Banking Division as part of their Technology group based in New York City. He holds a Bachelors of Commerce from the University of Toronto.

How intense is Investment Banking? How competitive is recruiting for IB? What do bankers do exactly? After completing my summer internship at Morgan Stanley, I hope I can shed some light onto the questions above –  questions that were on top of my mind as an applicant to NYU Stern, and as a MBA1 during recruiting.

Let’s start with recruiting. Make no bones about it – recruiting for IB is not easy. But, with the right attitude and preparation, you will set yourself up for success. There are 2 key factors to keep in mind: 

  • First, stay organized. IB recruiting is networking heavy, and there will be countless interactions you have with each bank during the process. From managing your calendar, to taking notes post-coffee chats, to sending thank you e-mails – find a method that helps you stay organized through this process.
  • Second, do not overlook coffee chats. Many coffee chats (especially early on) may seem casual and non-judgmental, but every interaction with the bank is an opportunity for them to assess whether you are a right fit for them and vice versa. Doing well in these coffee chats is critical to landing interview invites and job offers! 

I spent my summer within Morgan Stanley’s Technology group based in New York. Under “normal” circumstances (pre-COVID), MS operates a Generalist Pool model, where all Summer Associates rotate through 2 or 3 different groups of their choice over the course of 10 weeks. Since our internship was mostly virtual, we were placed directly into our top-choice group. Our 10 weeks had 4.5 weeks of training and 5.5 weeks of “on-desk” time (i.e. real work). 

When we “hit the desk” in July, each of the interns within the Tech East group was placed on 3 live deals. The best part about this was that every task that I worked on delivered immediate value for my team and the client. There was no business development work or “summer projects.”

Overall, I worked on 1 buy-side process, 1 sell-side process and 2 equity financing deals. It was fascinating to see the different ways in which investment banks deliver value for their clients. For example, we worked with the founders of an 8-year-old startup to help translate their vision into an enticing and attractive pitch for potential investors. In contrast, we also worked with a large public company and its C-Suite team, which comprised of seasoned executives with 20+ years of experience. Getting to work with founders and veteran executives as a junior banker is an experience that is unparalleled and was one of the highlights of my internship. 

If you have your eyes set on recruiting for IB, go all in. With the right effort and dedication, nothing is out of reach. Feel free to send me a note out if there are any questions, always happy to help – kushal.mehta@stern.nyu.edu!

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Summer Internship Series: Amazon

Gordon Fan is an MBA2 specializing in marketing and brand management. Prior to Stern, he worked in Cartier’s 5th Ave Mansion Client Experience Team and Retail Innovation Lab, and also served in the Taiwan Military Coast Guard as an event/graphic designer. At Stern, he serves as the Co-President of Luxury Retail Club and President of NYU Buddhism Club. He holds a BFA in Stage Design from NYU Tisch. He loves painting Buddhas and making dance reels!

This summer, I had the opportunity to choose a hybrid-in person option for my Amazon Retail Leadership Development Program Internship! My role was Vendor Manager in the Kitchen Retail Team (Hot Beverages). My summer project was to manage and improve sales, profitability, and customer experience for four high-priced coffee machine vendors: De’Longhi, Jura, Technivorm Moccamaster, and Bunn. I was also responsible for onboarding a new luxury espresso brand, providing a recommended strategy and roadmap to attract luxury kitchen brands, and updating the vendor-facing pitch deck for new potential brands.

A typical day would be filled with weekly check-in meetings with my vendors. In meetings, we would discuss areas of improvement. The main goal for all my vendors was trying to secure ample inventory for Q4 and holiday shopping season. This was challenging, as port congestion issues and COVID-19 outbreaks delayed shipping for products. We had to find the right balance between our forecasted amounts, how much our fulfillment centers can take and how much allocation vendors can give to us. There were a lot of back and forth negotiations.

I would also recommend marketing options that can help brands have more discoverability and visibility on the storefront webpage. Some things to look at weekly were the number of products that were out of stock, gross merchandise sales, NetPPM, bottom line profit margins, and vendor’s confirmation rates. With a vast number of teams in Amazon, you have to know the right people to ask and also depend on internal wikis, pitch decks, and info docs. Finding a strategy also required a lot of information gathering – similar solutions that I would come up with for my strategy might have been started or in the process of being implemented. So it was eye-opening to interview a lot of people from different groups and understand the experiments and research they did to implement new products. My strategy was a combination of creating a separate UX subpage between regular and high-priced kitchen products, adding a pre-sale live chat function for users and refining internal materials for vendor outreach.

At Amazon, we were not required to go to the office, and you could tell very fast that Amazon relies on working virtually. As long as you have your laptop and a double screen, you are all set. Everything is communicated by email, Slack, and Chime (Amazon internal Zoom tool). During the summer, I would frequent the office twice a week either to socialize with other interns and colleagues, enjoy a walk at the Spheres (Amazon Greenhouse Planetarium), or do some painting at the Expressions Lab (art classroom open to all employees to destress).

As a New Yorker, moving from NYC to Seattle for 3 months was quite an experience. Although work was stressful and busy mostly, I was grateful to experience the nature that Seattle has to offer, meet other Sternies at Amazon, and meet other MBA interns! It was fantastic to get to know other interns from other MBA schools, learn about their school’s cultures and the things they’re working on in their team at Amazon. The highlight of my internship was making new friendships and visiting the Olympic and Mount Rainier National Park. I’m glad I made the trip for an amazing Seattle summer!

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Summer Internship Series: ZS Associates

Arthur Heitz is an MBA2 specializing in Strategy and Entertainment, Media and Technology. In addition to serving as a Graduate Ambassador, he is also a VP of Academics and Case Competitions for the Entertainment, Media and Sports Association (EMSA) and a Teaching Fellow for Pr. Matthew Lee’s core Strategy. Arthur was born in Dayton, OH and graduated with a BA from Boston College in 2013. He spent the majority of his career pre-MBA in client services roles at GLG. 

Most choose to pursue their MBA to progress in their career, but getting into business school can feel like a job all in of itself. You study for the GMAT, research schools, speak to alumni, attend presentations, update your resume, write essays and interview all in the hope you end up at a school that’s right for you. Then, what feels like immediately, you get to school and you reenact that process ALL OVER AGAIN: you recruit. You choose your industry(s) of interest, research firms, network, update your resume (even more), and interview all while taking in your class work. All told, upon eventually receiving an offer, it occurred to me I had spent nearly two whole years of my life preparing to become a consultant. I had spent so much time working to get the job, though, that I spent precious little time thinking about the job itself. And with the approach of my internship, it was time, I realized with a mixture of exhilaration and anxiety, to actually consult. Eager, excited and with undeniable nerves, I approached the first week of my internship this summer with a question I dared not ask out loud: So what does a consultant actually do?

Turns out, they do a lot of things. First and foremost, they do what their clients ask. Consulting is ultimately a service business so interacting with and advising clients is required. These are professionals, mind you, whom if they are not former consultants themselves have built a life in their industry or company. This makes learning as much as possible about your clients and their projects essential, both to instill confidence and reassure your client that they are in capable hands. You obviously cannot become an expert overnight, but consultants have a pithy phrase that describes the bar to which you must strive: “know enough to be dangerous.” Furthermore, it turns out those hours (read: days) ((read: weeks)) you spent practicing case studies for consulting interviews actually come in handy. Consulting is also about assessing situations in the moment and problem-solving on the fly. That could mean practicing effective time management, working in Excel or Powerpoint, or figuring out the story being told by a set of data. It could even mean navigating the mine-filled landscape of scheduling a meeting among stakeholders who have a total of zero common availability in a given week. Some problems take days to solve, others may take just minutes. Each day is invariably different in consulting, which can be exhilarating or harrowing, depending on the day.

Reading this, you may think I have reached a place of comfort in the role. More comfortable than when I started, certainly, but I still have a long way to go. Luckily, I work for an organization that understands my plight and is dedicated to supporting me. I was fortunate and humbled to receive an offer to intern at ZS Associates, a firm that works across industries but specializes in consulting for healthcare clients. Despite this focus, they work on as wide a breadth of project types as you would expect to encounter at other leading firms. They understand you are an intern, so try not to push you directly into the deep end. You’re brought onboard for a reason, though, and are given the opportunity to contribute directly to live project work. To help, ZS provides you with resources in the form of trainings, coaches and peer-buddies to help you wade slowly but surely into the oceanic waters of consulting. I’m learning that becoming a great consultant does not happen overnight, so am constantly reminding myself that improvement can come but one day at a time.

Consulting is, on one hand, a natural progression of everything I’ve learned during my career and at school. But on the other, it can be really, really hard. You could say something similar about business school, by the way. Ultimately, like getting into school or recruiting, I see it as another obstacle to overcome, another problem to solve. With some help, determination, and maybe a little bit of luck, I may just yet learn enough to be dangerous.

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Summer Internship Series: Stifel

Sam is an MBA2 specializing in finance, business analytics and strategy.  At Stern, he serves as a VP of Mentorship with the Private Equity & Venture Capital Club and VP of Communications with the Entrepreneurship & Start-Up Association in addition to other leadership roles on campus. Sam graduated from the University of California, Berkeley in 2015 with a Bachelor’s in Molecular and Cell Biology.

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

I recruited in the fall with a class of nearly a hundred Stern students for Investment Banking. Unlike most of my classmates, I did not secure my internship offer in the second week of January. After on-campus interviews and final round interviews had finished, I was without an offer and faced with the difficult task of recruiting in the Spring recruiting cycle. Instead of perceiving my process as failed and broken, I stayed positive, doubled down on my interview preparation, invested time in networking and moved forward. In the subsequent weeks, I went through a series of first round and Super Day interviews and in the second week of February was relieved to receive an internship offer at Stifel. 

I started my internship in June and was fortunate to be placed with the group with which I had the most interactions during the recruiting process, the Global Technology Group. The Global Technology Group at Stifel had recently acquired a boutique middle-market technology, Mooreland Partners, that specialized in middle-market technology M&A deals. As a result, the Global Technology Group grew to over 100 investment bankers around the world and significantly enhanced its senior experience across sub-verticals. I sat  (virtually) in New York City, the global headquarters, and worked with colleagues in San Francisco, London, China, Japan, Germany, Brasil and Israel among many other nations. Over the course of the summer, my staffers exposed me to each of the four verticals in the Global Technology Group: Software, Electronics & Industrial Technologies, Tech-Enabled Services and Internet & Digital Media while maximizing my interactions with as many bankers in the group as possible.

One of the amazing parts of my internship was working with over thirty investment bankers in New York City from all levels: first year Analysts through seasoned Managing Directors. I gained exposure to senior leadership across the firm in Consumer Retail, Healthcare, Gaming and Technology through programmed virtual, yet intimate, fireside chats. In these small group settings, the other Summer Associates and I gleaned valuable insights into how many of the senior bankers built their careers – some of them had transitioned from MBAs into Investment Banking themselves. It was a nice way to learn more about the future of the career path and how the responsibilities will increase at each level in Investment Banking.

Overall, I got to see two live sell-side processes, a buy-side process, an endless number of pitches and multiple cross-collaborations between different coverage groups across through firm. It was interesting to observe different stages of the deal process through different deals. For example, one deal showed me how a deal is initiated through an exclusive advisory agreement and management call with the C-suite team while another deal exposed me to a more advanced staged of a deal after a confidential information memorandum (CIM) had been completed and the deal team was going to market. In all, the experience helped me see how deals progress through managing day-to-day transaction execution.  In addition to working on live deals, I worked on client facing marketing material that the group uses to garner interest from investors, sponsors and strategics. I had the opportunity to dig into some interesting sub-verticals in the group including Cyber Security and Enterprise Software to update the materials with the latest market research and competitive analyses. It was an incredibly stimulating and educational experience that showed me the role of Investment Bankers in advising companies on strategic and financial decisions.

While my process was atypical compared with many of my peers and classmates, it taught me a few valuable lessons that I will take with me into the future of my career. For one, struggling to secure an offer instilled in me the importance of perseverance in approaching adversity. It is important to stay positive when working toward a goal and to control what is in one’s control: attitude, preparation and execution. The experience also inculcated in me a deep appreciation for the power of the Stern community and brand. I owe a lifetime of thanks to the alumni, office of career development, MBA2s and my MBA1 peers who provided moral support and constructive feedback throughout the process. I’m thankful to the Stern network, in particular Serena Lu, an ex-Stifel investment banker and Stern graduate who helped me navigate the recruiting process on-campus for Stifel. Lastly, I’m grateful for my friends and family who made the hard work, late nights, early mornings and everything in between worth the challenge and effort.

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Summer Internship Series: Kalypso

Lanesha is an MBA2 specializing in digital strategy and marketing.  Prior to Stern, she worked within Accenture’s federal practice as a technology consulting analyst, helping different government agencies implement and maintain technology systems.  At Stern, she serves as the VP of Treks for the Association of Hispanic and Black Business Students. Lanesha graduated from Howard University in 2015 with a B.B.A. in Supply Chain Management.

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

This summer I’m interning at Kalypso, a boutique consulting firm that specializes in digital projects.  I had a unique recruiting experience; I recruited at the Consortium conference last summer and received a couple of offers before starting school.  Prior to signing for my internship, I made it crystal clear what type of work I did and did not want to do.  Pre-Stern I worked for Accenture in their federal practice as a software implementation analyst.  My roles were very tech-heavy and I was intent on trying something different for my internship.  I expressed to the recruiter that I wanted to work on a strategy focused project within the retail sector and they delivered exactly what I asked for.

My client for the summer is a 60-billion-dollar department store and we are helping them launch their digital product creation program.  Instead of having physical clothing samples that are shipped around the world, everything will be created digitally.  It’s actually pretty cool to see a designer’s sketch of a hoodie turned into a 3D creation that looks realistic.

The hardest part of my summer has been to integrate with teams that I haven’t met in person.  My team is close knit and they have built strong relationships with our clients.  It took me a little bit of time to figure out how to best communicate with my team and what unspoken standards existed for deliverables.  I looked at these obstacles as a learning opportunity.  I pushed myself out of my comfort zone to speak up when I was confused, set up virtual one-on-ones to ask questions, and attend zoom happy hours to network with my colleagues.

I’ve been given several different parts of our project to own and have had considerable face to face time with our clients.  I’ve been pleasantly surprised with the amount of trust my team has in me to execute different tasks – I feel like a full-time employee on our team.  I’ve also been able to be involved in different internal initiatives such as the launch of a new Employee Resource Group and the creation of a recruiting strategy for diverse candidates.

Working remotely was not the vision I had for my summer, but I consider myself blessed to have still had a full 12-week internship experience.  Since I am at home all day long, I’ve had to develop new routines to keep myself focused such as having a dedicated workout schedule, an organized workspace, and a planned-out to-do list for the day.  Although I was looking forward to traveling this summer and racking up the loyalty points, working virtually gives me a glimpse into potential post-COVID changes in the consulting industry.  I think the future consultant lifestyle will still include a significant amount of travel, but there will definitely be more opportunities to work virtually.

I am excited to get back to Stern this fall and hear about the experiences my classmates have had at other consulting firms.  This summer is not what we were expecting, but I know my fellow Sternies have done their best to make lemonade out of lemons.  This summer has given me more perspective as to what I want to do post-MBA and I plan to spend my last year at Stern taking advantage of every opportunity that comes my way.