Female Professors on Mentoring by Alice Jun

NOVEMBER 2013 | ISSUE 5
table of contents
Page 1 Female Professors on
Mentoring
Page 2 Internship Spotlight
Page 3 Two Very Different
Experiences Abroad
Page 4 Where is USWIB Now?
Page 5 USWIB Candids
Page 6 Smart Investing for
USWIB Women
Page 7 Market Updates
+ Female Professors on Mentoring by Alice Jun
It is no question that in the business world, mentoring is a huge component to the
success of one individual's career. Not only does mentorship act as a unique and
powerful networking tool, it also is critical in an individual's personal development. A
mentor teaches you the tricks of the trade, a style of conducting business, and provides
wisdoms tailored to your personality, background, and goals. But mentoring is not one
in the same—one clear distinction is the nature of mentorship for men and for women.
For our second Necessary Conversations of the semester we were able to speak with
Stern professors, Stehlik, See, and Billings on the topic. One issue I found most
interesting is the tendency for female professionals to always or mostly have male
mentors. Although this may be attributed to the demographic of the corporate world, it
also highlights a need for women to expand their roles in any company as a mentor to
other women. Not only that, there is an additional need for female mentors to act more
as sponsors to other female professionals instead of merely giving advice. Increased
female mentorship can have a direct impact on other issues such as, the lack of women
in top leadership positions. Our discussion allowed our members to really contemplate
what our role will be as future business leaders and role models to other young, female
professionals.
Alice is the Treasurer of USWIB.
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Issue | Date
Internship Spotlight
+ Diana Zarowin | PricewaterhouseCoopers
Over the summer, I was an Assurance intern on the Entertainment Media
and Communications team at PwC. PwC interns really do get a full hands-on
experience in making meaningful contributions to their teams. Every task is
new and represents an opportunity for growth; for example, I assisted my
engagement team with the quarterly review for a major international
entertainment company, which gave me a taste of the full-time assurance
associate position.
I was assigned a variety of important tasks to help my team plan for Q1 and
transition from FY (Fiscal Year) 13 to FY14. Some of my responsibilities
involved rolling all of last fiscal year’s documents forward to this year,
making sure that the audit controls were in place, and preparing a number
of database processes. I also participated in a virtual learning assignment,
in which the intern group was divided into teams to consult on issues of
interest to the firm’s work, and develop a viable strategy to solve these
issues, all within a limited time frame.
Without a doubt, my two favorite aspects of the firm are the people and the
overall culture. Every person with whom I’ve interacted is willing to help,
offer advice, guide and mentor the interns. This culture of mutual support
and collegiality is exemplified by the recruiters, coaches, and the
engagement team leaders. Everyone comes into the office with a smile on
his/her face, ready to begin the day. Everyone tries hard to maintain a
work-life balance. The culture is all about teamwork, mentoring,
opportunity, and “growing your own way” within the firm. The possibilities
at PwC appear limitless, if you are willing to do the work necessary to
achieve your ambitions. The best part is that while you are doing this, there
will be so many people rooting for you and helping you get there.
Diana is the
President of
USWIB.
I went into the summer with excitement about the experience ahead, ready
to learn and take it all in. Although I wasn’t entirely sure what to expect
insofar as projects and who I’d be working with are concerned, the reality
surpassed anything I could have predicted! The fact that I was doing actual
work – work that my associate said she did during her first year on the job -gave me satisfaction and prepared me for the future. The people that I’ve
met are so talented and so generous...my coaches and division partners
have made time for me, and provided me with advice and guidance. I feel
fortunate to have been part of this internship experience.
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Issue | Date
+ Two Very Different Experiences Abroad
By Stephanie Borowiec
This semester, I found myself in Melbourne, Australia studying at the
University of Melbourne through Stern’s IBEX Program. After
studying abroad at NYU in London during the spring semester of my
sophomore year, I decided I wanted a different experience. This
experience has been so different from NYU Study Abroad and I
would definitely recommend trying to do IBEX during your time at
Stern. If you are looking for full cultural immersion, IBEX is for you.
At NYU in London, we could take classes about British culture to
enhance our time abroad. However, that’s nothing compared to
studying at a different university. University of Melbourne has
tutorials, essentially recitations, for every class. I learned more from
other Australian students during tutorials about the culture here than I could from any lecture. It
was also nice to experience a different type and style of learning for a semester.
Melbourne in general is amazing. It doesn’t get many
tourists and as a result, the culture is more vibrant and
geared toward locals. There’s lots of art and music. If
you’re a fan of street art, this is the city for you. If
you’re open to all kinds of music, you’ll always have
entertainment. My favorite thing I’ve done has been
exploring the laneways. There are lanes with little
cafes and street art all over and even when it’s cold,
it’s a cozy and warm atmosphere.
I’m a quiet person and as a result, it’s usually hard for me to open up
and meet people. This experience has allowed me, or rather forced
me, to become more outgoing. Australians,
while very friendly, are very hesitant to
welcome “outsiders” into their already
formed cliques. Luckily, I broke into a group
and I’ve made some great Australian friends,
which has meant the world to me. If you study abroad, go out of your way
to make friends with the local students. It may be difficult at first, but it’s
completely worth it in the end.
If you’re interested in IBEX or University of Melbourne in particular, please feel free to email me at
[email protected] or check out my blog at www.stephanieborowiec.com/blog.
Stephanie is the Webmaster for USWIB.
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Issue | Date
+ Where is USWIB Now?
A Q&A with Serena
Lu (’13)
Q: What year were you, what were your major(s), and what role did you have in USWIB?
Class of 2013, Majored: Finance, Econ and minor in psychology, USWIB community service
committee freshman year, mentorship chair Sophomore year, social chair junior year, vice
president - then president senior year
Q: What have you been up to since graduating?
I am a first year investment banking analyst in Stifel Nicolaus' gaming lodging and leisure team
Q: Favorite USWIB memory?
My favorite USWIB memory is the USWIB fifth birthday party. It was a moment when I stepped
back, and realized how much a group of ambitious and intelligent young women can accomplish
in five short years. I am so proud to have been a part of that. I also recognized how influential the
club was in my growth throughout Stern. I would not be the person I am without this club (the
USWIB conference is definitely a close second!)
Q: How has USWIB helped you in terms of your career/social goals?
USWIB is instrumental in my personal development because it helped me hone abilities outside of
academia. As an 18-year-old, you feel like you know a lot, but you really don't. Being given an
entire event to plan, from start to finish, is daunting. BUT, it also teaches you how to negotiate with
vendors, speak to professionals, placate administrators, and stay calm in times of crisis. Being in a
club allows you to develop those key social skills that classes are not able to teach. In the real
world, those are some of the MOST important skills to help you succeed in your career.
Q: Any advice for current USWIB members?
For current USWIB members - I encourage you to stay involved and strive to become club leaders
(even if it's not in USWIB). Like I said before, few classes touch upon those social skills that are
essential in all paths of lives. Most importantly, I want you all to ENJOY YOUR TIME IN COLLEGE. I
come back for recruiting, and I am so sad to see how career-oriented freshmen or sophomores
are. This is the time for you to make mistakes, travel, make friends, party, explore new things, go
to Broadway shows, raves, comedy clubs, Smorgasburg, lay on the grass with your friends.
SERIOUSLY GO. I rarely have time to do these things now. Being a real adult is great too, but this is
not the time for you to dedicate your life entirely to the "next step." I have friends who left jobs
they hated (IB, consulting, accounting) to go in a completely different direction (some include
being unemployed and backpacking through Asia). SERIOUSLY? You didn't have to give up two
years to do that –you can go straight into it! A career path is not a ladder, it changes ALL the time.
Please don't put so much pressure on your ENTRY-LEVEL JOB, when you have 50 more years of
your life to dedicate to your careers. ENJOY STERN.
P.S. I know I am in investment banking so I may seem like a hypocrite, but I REALLY love my job.
Really. Please feel free to reach out to me at [email protected] if you don't believe me. Or you can just
reach out to me if you have any questions! Best of luck to all of you, and I hope to meet you all
some day.
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Issue | Date
+ USWIB Candids
(Left) USWIB holds its last Friday
workshop of the semester: How
to Prep For Stressful Interviews
with Nomura Professionals.
(Left) USWIB
representatives
Katherine (L),
Sachi, and
Natasha, bowl in
ICC’s Bowling
Social last week.
We didn’t win,
but we certainly
had a blast!
(Above) Thursday
night out with Lori
Berenberg (L) and
Diana Zarowin (R).
#USWIBlove
(Right and Bottom)
USWIB’s
International
Travel Panel with
professionals who
shared their
experiences while
working abroad.
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Issue | Date
+ Smart Investing for USWIB Women
By Charisse Tay
With a number of paid internships under my belt, I found myself sitting on a nice pile of savings at
the end of the summer. I’ve always wanted to start investing, and I thought putting my money into
some stocks would effectively stop me from squandering cash on shopping and going out on
weekends. It’s always good to start investing from a young age, and I’d like to share some advice
on investing that I’ve picked up over the past few months.
1) What are the benefits of managing your personal portfolio?
You learn so much about the way that markets work and how to think strategically about
managing your money. You get to see the way that news and Fed announcements literally
affect your portfolio on a day-to-day basis. It’s a great way to get real about finance and
have it realistically affect your life. You’re also almost guaranteed to make a profit if you
make wise investment decisions for the long term.
2) It’s easier than you think.
Literally all you have to do is set up an account on Fidelity, Charles Schwabb, or Etrade,
and put some of your money in. Then you’re all ready to trade.
3) Which brokerage firm to use?
I currently use Fidelity because it has the lowest fee per trade of $7.95. It does have a
higher account minimum than Etrade, so definitely compare these sites online to see which
one works best for you.
4) Which stocks should I buy?
It’s hard to decide where to start. US equities are doing really well this year, so a good
place to start is to put some of your money in SPY, which is the S&P 500 ETF. You make
money every time the S&P 500 goes up, and the value of each unit of SPY is basically the
S&P divided by 10.
There are also lots of other interesting stocks out there, including all the tech stocks that we
know and love. We’ve all talked about whether or not Twitter is overpriced, but it’s all talk
until you’re forced to put your money where your mouth is.
You can easily start investing even if you only have a small sum to start with. It’s also a great idea
to start investing in college because you have lots of time to do research and get a better feel for
the markets. If you have any questions or need any personal advice, don’t hesitate to reach out to
me either – [email protected]!
Charisse is the Secretary of USWIB.
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++ Market
Updates
By Katherine
Gang
Katherine is the
current Newsletter
Chair.
Issue | Date
Initial numbers show that U.S. charities have raised more
than $33M for victims of Typhoon Haiyan.
Typhoon Haiyan has killed nearly 4,000 and displaced 660,000 from their
homes, making it the second-deadliest Philippine typhoon. Charities such as
UNICEF and the American Red Cross have been working with the Philippine
Red Cross and other agencies to transport supplies and disaster responders.
Private-sector donors, including HSBC, JPMorgan, and Samsung, have also
pledged millions to support relief efforts, with corporate donations tallying
more than $10.8M.
JPMorgan reaches $4.5B settlement with investors.
The deal resolves just one of the bank’s legal problems with securities tied to
risky mortgages that were allegedly sold while misrepresenting their worth,
thus incurring losses for investors.
Blockbuster is closing its remaining 300 U.S. stores.
Blockbuster was bought by Dish Network in 2010 after going bankrupt.
Closing its stores presents more opportunities for other small business
franchises that are seeking Blockbuster’s prime retail locations.
Sony released PlayStation 4 in the U.S. and Canada, its first
new gaming system in seven years.
Sony needs a hit after an unexpected loss for the most recent quarter, which
dropped its shares 11%. However, it faces stiff competition from Microsoft’s
Xbox One. Both companies expect strong sales for the holiday season, with
Sony forecasting that it will sell 5 million PlayStation 4s by March 2014.
China passed India to become the world’s top gold
consumer.
So far this year, China has purchased 798 tonnes of gold. It is estimated that
China will surpass 1,000 tonnes by the end of 2013. The increase in gold
consumption is attributed to rising disposable incomes and a growing
Chinese middle class.
Snapchat co-founder Eric Spiegel turned down a $3B offer
from Facebook.
Spiegel, who is 23 years old, is betting that Snapchat, a small company with
no assets or revenue, will be worth far more in the future as it continues to
attract more members on a consistent level. Currently, Snapchat is reportedly
producing 350 million snaps per day as of September 2013.
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@USWIB
Undergraduate Stern Women in Business
[email protected]
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