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A Call to Character Amidst a Defining Moment

By Compassion, Courage, Curiosity One Comment

Dear Scholars of Finance,

After reflecting on the events that recently transpired in the U.S. Capitol, I am writing to offer some encouragement and guidance on how we can grow and act as leaders in a time when our leadership is more important than ever.

On Wednesday, January 6th, millions of people went online and watched violent rioters storm the U.S. Capitol, witnessing the chambers of democracy being desecrated and looking on in suspense as the very principles the U.S. was built upon were challenged. The character of this nation was threatened. The House of Representatives and Senate reconvened safely that evening and completed the election certification. The democratic process prevailed over violence and intimidation. 

Following this day of infamy, five have been reported dead. The FBI has identified dozens of rioters to be prosecuted for egregious crimes. The current President of the United States has been banned from Twitter and Facebook indefinitely, and impeachment is under consideration. 

We’re living through a moment that will define our generation.

Many of us have felt scared or confused by what has in some cases been portrayed as the unraveling of the safety and security of democratic processes and institutions. Many of us were shocked or deeply disappointed that people would so recklessly defile the halls of Congress. Many of us are angry about the obvious inequality and inequity displayed, recognizing that several Black Lives Matter protests were treated more harshly, leading us to question how Capitol police would have responded had the rioters not been predominantly white. Some are not even surprised by the events, given the divided state this nation has devolved to and the vitriolic rhetoric of the current President. Some simply don’t know what to think or what to say.

The moment continues. With a presidential inauguration approaching and the deep division of our nation becoming increasingly apparent, it may last for weeks or months, maybe even years. 

Many of us are asking ourselves what our role is in this moment. What can we do? What should we do? The problems can feel so much bigger than us. The solutions can seem far out of our reach, lying in the hands of national officials, courts, or political leaders. How do we make an impact? Can we?

Yes we can. We can take action within our circles of influence, whether we only reach our family members down the hall or we reach hundreds or thousands. We can do something now and we can make a difference.

Our mission is to inspire character and integrity in the finance leaders of tomorrow. We may wonder what action we can take while still so early in our paths to becoming finance leaders and investors. What role does finance play in all of this? 

Eff Martin, a former Partner at Goldman Sachs and a close friend of SOF, once told us that “you need to build character now, so that in 15 years, when you’re put to the test and your decisions carry much more weight, you have the character to do the right thing.” One day, some of us will make decisions with millions of dollars and impact many, many lives. So, in this moment, as future finance leaders, we seek to examine how we can act with character to prepare ourselves for our future impact. In doing so, we can also make an impact right now.

I encourage all of our members, and anyone else reading this, to consider our core values of Courage, Curiosity, and Compassion and how to apply each of them in the weeks ahead. Here are a few thoughts to help you get started with your reflection and next steps:

Courage — There is deep division in the world which threatens the foundations of our society. Help solve this large and important problem. The situation in our country may get better from here, or, for a period of time, the state of affairs may get worse. Remain calm. Maya Angelou said, “Without courage, we cannot practice any other virtue with consistency. We can’t be kind, true, merciful, generous, or honest.” Courage overpowers the fear that resigns us to this new status quo.

Curiosity — There will be many debates about what has happened, is happening, and will happen. First, seek to understand, then to be understood. We will naturally bias toward talking about these events only with people who share our worldview. Embrace diverse perspectives. Abraham Lincoln, who led the U.S. through arguably the most divided time in our national history, said, “Those who look for the bad in people will surely find it.” Curiosity extinguishes the flames of anger between us.

Compassion — There are people severely affected by what’s happening. Show empathy to those suffering. There are people who view this situation differently than we may. Show them respect and kindness. People will say things that initially offend us. Extend them forgiveness. Martin Luther King Jr. reminded us that, “Love is the only force capable of transforming an enemy into a friend.” Compassion is our primary antidote to the divisiveness that plagues us.

Again, one day, many of us will be leaders in finance who help shape the economy and our nation’s political agenda. It is incumbent upon us to practice these values now to help heal our nation and prepare for the days when our actions have far greater implications. My sincere hope is that the last week and the months ahead can become one of the greatest periods of growth in our lives to date so that we can help avoid events like these from happening again, and that in the process, we help shape this moment into a foundation for a brighter future.

If you have questions, need someone to talk to, want to discuss how to uphold these values in more detail, or perhaps want to be a resource for others seeking clarity through this period, you can always reach out at hello@scholarsoffinance.org and a member of the team will be grateful to talk with you.

Best,
Ross Overline
Co-Founder, CEO

A Lesson in Curiosity, Humility, and Courage

By Courage, Curiosity, Humility No Comments

Next to the entrance of every Sam’s Club nationwide is the consumer electronics section. In this section stands a sales representative dressed in a suit promoting the store’s latest deals. To adult shoppers, the consumer electronics department is their go-to place for discounted TVs on Black Friday or a new phone when a family member needs a replacement. For children, this section offers the most captivating gadgets to play with while parents complete their weekly grocery run. The consumer electronics department in Sam’s Club was my home last summer.

Like many high school graduates, I pursued a summer job in the months before heading to college. This opportunity was the ideal time for many of my classmates to earn some spending money from a stress-free retail or tutoring job. For my friends, my decision to sell DirecTV and AT&T plans for the summer was a complete mystery. I was an introvert; in the classroom, I did not draw attention to myself by jumping to answer questions. Every action I made was carefully calculated until I was sure I could succeed. The sales rep role was the complete opposite, as conversion rates averaged only 5%. Why would someone like me take a job that required me to seek out attention and rejection from disinterested shoppers? The answer was simple – I had never done it before. This split-second decision only took 5 minutes of courage, but it made a world of difference.

This display of courage led me to a week of sales training where I was taught to smile, laugh, make conversation, and recite a sales pitch. Too quickly came my first day “in the field.” I leaned against the phone display waiting for customers to pass the station. As they walked through the sliding doors, I straightened my blazer, stood up straight, and took a few steps forward. My heart pounded and I opened my mouth to greet them.

“Hi y’all, who’s your TV provider? We’re doing a promotion to–,” I was cut off by a quick wave of a hand and they turned brusquely away. My first rejection. Another one came a few minutes later. Then another. And another. I didn’t make a single deal that day, or even in the first week. I finished my week in the field dejected and began to echo the doubts of my classmates. I thought, “maybe my personality just wasn’t cut out for this role.”

Motivated by my less than satisfactory performance, however, I wanted to improve. My courage had allowed me to take the first step in stepping out of my comfort zone, but I needed to continue growing in that direction. To achieve this, I utilized humility and curiosity. I knew the bounds of which I still had yet to learn and sought the resources to do so. Over the course of the next two weeks, I arrived at weekly check-ins early and stayed later to work with senior executives. They threw every possible scenario at me while I practiced navigating client interactions. I also remained curious about each team member’s unique sales strategies and learned how to apply their sales “personas” to my own. As I improved my communication skills, I also gained confidence. My poor first week stemmed from being so focused on closing deals rather than genuinely engaging with customers. After overcoming this obstacle, I returned to the consumer electronics section with a newfound excitement. My goal would be to connect with people, and deals would come naturally.

Monday morning came around and I once again waited for the first customers to come through the sliding doors. Using a tone similar to that of talking with an old friend, I greeted, “Good morning, y’all, how are you doing?” The members started to talk about their day and I learned about their kids, gardens, and pets. Immediately, I noticed a difference in my sales. I had formed personal connections with customers and even if they did not need a TV or phone right then, they gave promises to return. My first day back, I closed two deals.

My experience as a DirecTV sales rep was a lesson on the importance of courage, humility, and curiosity, and it transformed my perspective on life. Although I still am an introvert, I learned to utilize courage and take risks in order to grow. In pursuing a role that starkly contrasted my personality, I broke through my own doubts that introversion made me unfit for a sales role. Today, I continue to seek opportunities to make genuine connections and meet new people with diverse perspectives. I also strive to help others, promote positivity, and remain humble and curious in each relationship, whether it’s with friends, colleagues, or mentors. It only takes five minutes of courage to venture beyond your comfort zone and exceed your limits, and I challenge all of you to find that moment. What’s something you’re afraid of that’s holding you back from where you want to go?

A Lesson From Shoveling Mulch

By Courage, Curiosity, Humility No Comments

A Lesson From Shoveling Mulch

One of the earliest memories I have of life back in Ohio is shoveling mulch in the summer.  I could feel the oppressive rays of the sun persuading me to race back inside where I was promised cold, refreshing water, but my older brother always insisted we continued piling black mulch on top of the soil. 

“The faster we work, the sooner we get done,” he assured me. I wasn’t amused. The ache in my muscles did not care for his cliche captain obvious remarks. As I felt my skin cooking in the midwestern heat, I couldn’t stop thinking to myself: What’s the point?

It didn’t make sense to me; we would spend the better part of two days piling on at least 20 bags of mulch to cover the plot in the garden only for the wind to blow and the sky to rain, eroding all the mulch we worked so hard to place. Why were we spending so much time and putting so much work into something that could never last? Every summer we’d repeat the same cycle of buying mulch, piling it on, and waiting for it to blow away.

When I got a little bit older and was less afraid of questioning my parents, I asked them the question burning in my head for years: why? Why do we spend so much time and money on this? My mother gave me an answer that puzzled me.

“It looks nice. Even if it’s for a moment, it looks nice.” I could tell she did not put much thought into her response, as if it should have already been clear. Again, I was not amused. 

At that time, I was about 13 years old, I was still going through that annoying pre-teen phase, and my first reaction was well, why should I care? After all, if someone sees our yard and thinks it looks disheveled or horrible, that’s their own opinion. How should that affect me? But as I learned more, read more, and took more classes in high school, I started to realize that appearance isn’t vain. Appearance doesn’t have to be people-pleasing, and appearance at its base can serve a bigger purpose.

For instance, if you have ever seen me write with a pencil or pen, you’d know I have very neat handwriting, but it does come at a price: I write extremely slowly. Often, people would notice and comment that those perfect round letters aren’t worth the cost of my glacial writing pace. To them, this is just another ploy to gain approval from my instructors when I turn in a prim and proper paper. 

But they’re wrong. Though I’ll admit I did play the role of teacher’s pet from time to time, that was never the aim with my neat handwriting. Whenever I doll up my paper and worsen my writer’s callus, that is me putting on my gardening gloves and shoveling mulch. I’m putting that work in for my lawn, for my growth, for my plants.

And let me be clear– it’s not because I want to have the best lawn in the neighborhood or that I want my lawn to be the object of everybody’s envy. It’s simpler than that. It’s because after working for long hours over two days, I can have a sense of accomplishment. I can lean back, have a glass of water, and say it looks nice. Even if it’s for a moment and even if nobody sees, it’s okay– it still looks nice.

My challenge to all of you is to reject the idea that your accomplishments only matter if there is someone to congratulate you, to perceive you. Have the courage to say “no, I’m not trying to impress anybody but myself,” because, at the end of the day, the mulch is going to wash away anyway.

Six Questions with Jenny Han

By Curiosity, Impact, Values No Comments

Six Questions with Scholars of Finance is a series intended to highlight the thoughts and lives of our students at Scholars of Finance. In the series, the students are simply asked six questions which we think embody the SOF experience and their answers are shared right here on the Scholars of Finance blog. In this second edition, we had the pleasure of sitting down with Jenny Han, a rising Sophomore at UC – Berkeley. If you are a student and would like to be featured in a segment of Six Questions with Scholars of Finance, please reach out to Jake Kranz via email.

What school do you go to?

University of California at Berkeley Class of 2023

Do you have any employment plans in the near future?

I am interning at a company called Kaali that is part of UC-Berkeley’s SkyDeck accelerator program.

Could you tell me a little bit about your experience with Scholars of Finance so far?

I joined Scholars of Finance in the spring of 2020 and gravitated towards it because of how differentiated of a business club it was, and still is. I was drawn in by the focus on morals and values and my strong belief in the mission. I’m a part of the associate team for the LDP out here and I’ve really enjoyed building deep, meaningful relationships with members through this program.

What is your favorite memory from Scholars of Finance so far?

My favorite memory so far is definitely the LDP. It’s given me the opportunity to learn about myself and others much more than I have in any of my other clubs or classes at college.

What’s the most valuable lesson you’ve learned from Scholars of Finance?

The most important thing that I’ve learned to do in my time at SOF is the ability to implement my values and morals into everything that I do. Instead of thinking of success in the traditional way, I now think of success as sticking true to my values and living life in accordance with them.

If you could tell the next generation of SOF students anything – what would you tell them?

Take this time to truly reflect on who you want to be and what you really want out of life.

South Asian Allyship in the Age of BLM

By Courage, Curiosity No Comments

It’s bad to be Black in Desi culture.

Hasan Minhaj described it best. We shy away from the awkward discussions at the dinner table, let the racist comments slide, because, what do our parents know? British colonization (which ceased in India as late as 1947) had adverse effects on our parent’s values and biases. They grew up surrounded by Fair and Lovely ads, taunted by their classmates and parents for being “kala” (which means dark, or black in Hindi and carries a negative connotation), and exposed to these notions of anti-Blackness subtly throughout their lives. It only makes sense that once they immigrated, they translated these biases into American society. These stereotypes were reinforced by the de-facto racism that plagues our social and political institutions and the harmful rhetoric that our leaders spew, brushing the notion of white privilege under the rug.

Spending all of my formative years in Staten Island, New York, sheltered in the most-suburban and least-diverse borough of New York City, I easily internalized the casual racism and the “model minority” myth touted around my community. My parents instilled in me the drive that us first-generation Indian kids know too well. Anyone can work hard, get into the best-gifted programs and magnet schools, get the highest scores on all standardized tests, and eventually, get into the college of their dreams. So when I began attending a magnet school in Coney Island, Brooklyn, I was armed with the notion that everyone had an equal means of succeeding if they worked hard enough. Attending this school, however, came with an unintended side effect- for the first time in my life, I was exposed to children of all races and socioeconomic backgrounds. I went to school with the children of Academy Award winners, Ivy League legacies, and, alternatively, low-income students with drug-addicted and absent parents. Interacting with my peers helped me discern the intersectionality of race and socioeconomic status- it just so happened that the majority of the low-income students were people of color. It enabled my understanding that only a few years into their schooling, these students were already at a significant disadvantage compared to their privileged peers. But it was not until I took AP United States History my junior year of high school, however, that I could pinpoint the institutionalized racism in America, and the ripple-effect of longstanding policies that allow it to proliferate and adversely affect our Black community. It took an optional Advanced Placement class for me to recognize the significant whitewashing of our history curriculums, and the Eurocentric ideals that govern our social norms and beliefs, the effect of which has not been lost on the Asian community.

As Asian students, we proudly tout this “model minority” narrative, in which our immigrant parents have excelled as business leaders, innovators, and pillars of American society. We buy into this myth that we made it because we did the hard work, the work that our fellow Black Americans are too “lazy” for. We are so quick to ally ourselves with conservative groups intent on ripping apart affirmative action admissions processes, despite the fact that our minority is overrepresented at these leading academic institutions, and have minimal barriers to entry compared to our Black peers. What we fail to recognize, however, is that our families could only immigrate to this country subsequent to the Civil Rights movement, through the Immigration and Nationality Act of 1965, which increased Asian immigration by five times. We turn a blind eye to the fact that our success in America has been directly contingent upon the bravery and struggle of the Black community throughout the 60s. We buy into this divide and blissfully ignore our privilege as non-Black people of color. And now, our silence is deafening. How is it that we proudly support examples of Black excellence such as the Obamas, rappers, and NFL and NBA athletes but remain silent as our Black brothers and sisters are ruthlessly murdered in our communities by the very force that has sworn to protect them? How is it that we ingratiate Black culture into our own through the likes of Nav and Drake, but are hesitant to step forward and speak up against the injustices and casual racism that persist in our Desi communities? How is it that we have normalized our silence on these issues, simply because they don’t affect us? 

A lot of us, as first and second-generation immigrants have the privilege of handpicking the elements of our culture that we identify with. And for us, racism and the model minority myth will not be one of them. Educate yourself, it is not the burden of Black people to educate you. Have those tough conversations at the dinner table. Share Black stories. Uplift Black voices. Utilize your privilege and platform to support the people and culture we revere so deeply. For our Black communities, this is more than just an Instagram trend. It’s reality. 

 

Educational Resources

  • To Watch:
    • Stream “Views for a Vision” to donate money to BLM
    • When They See Us
    • 13th
    • Dear White People
    • Who Killed Malcolm X?
    • All Day And A Night
  • To Read:
    • Stay Woke: A People’s Guide to Making Black Lives Matter, by Tehama Lopez Bunyasi and Candis Watts Smith
    • No More Heroes: Grassroots Challenges to the Savior Mentality, by Jordan Flaherty
    • I’m Still Here: Black Dignity in a World Made for Whiteness, by Austin Channing Brown
    • Stamped from the Beginning, by Ibram X. Kendi
    • This Book is Antiracist: 20 Lessons on how to Wake Up, Take Action and Do the Work, by Tiffany Jewell
  • To Donate:
    • Black Lives Matter: funding the BLM movement
    • Innocence Project: Non-profit dedicated to overturning wrongful convictions and bring reform to the justice system
    • National Bail Out: Black-led and Black-centered organization aiming to create a national community of leaders who have experienced incarceration
    • Black Visions Collective: Minnesota-based Black, trans, and queer-led organization committed to dismantling systems of oppression and violence
    • NAACP Legal Defense and Education Fund: Nationwide organization that fights for racial justice and investigates police-involved murder

It is Not Enough to be Non-racist

By Courage, Curiosity No Comments

In the last week, as these events have unfolded, I’ve been going through a range of emotions, including feelings, of anger, distress, sadness, and at times, helplessness. Aside from taking action, I’ve found myself often letting thoughts race through my mind for long periods of time. They often weigh me down with angst and stress, but I’ve begun to find ease in just voicing them. With the support and platform provided to me here by Scholars of Finance as a black member of the organization, I’m able to further do that. One of these thoughts has been tied with the increased circulation of the Angela Davis quote: “It is not enough to be non-racist. We must be anti-racist.” This powerful and truly poignant quote is extremely relevant to the moment we are in, but I’ve begun to inexplicably see negative sentiments from white people arising towards the quote, questioning it and seeing it as almost “too pressured”, that’s it “unnecessary” to be making such distinction almost as if it’s petty in the wider scope of the movement. It’s pained me to see and read such reactions to the quote and expression, and to see that some people aren’t understanding the interpretation or meaning behind it.

In voicing my thoughts I want to shed some of my own light and personal perspective on the quote. In channeling my experience, I want to show there is entire validity to that expression, and for people to truly understand why it’s meaning is important within this movement.

I want you to put yourself in my shoes. You have a young niece living on the east coast. Your sister and her family are expecting a second child due this year. That’s two close, immediate young relatives who you wish the best and would do anything for. Whether it’s for them to have the best opportunity in life, be treated fairly, be able to live their lives without fear, go about their lives doing the things that everyone should be able to do without any worry, judgment, or prejudice against them; that’s what I want you to imagine. For someone that was of your family, looked like you, that was of not just your blood but of your ethnicity and you just wanted what was fair for them, but that the world around you just isn’t a place where that is possible. You have a friend aware of the situation you face, that they are aware that you are fighting for someone who is of your family, who you care deeply about, who you want to see treated the same as everyone else, just as you wish you were, but you want to fight for them. I want you to imagine that you ask your friend, “where do you stand on this topic?” 

Of course, you would hope that people would stand on your side where they are with you, they support you, they are there willing to fight alongside you for something as evidently important as this, for something as basic and fundamental as this, in terms of treatment, in terms of how one should be able to justly and equally live their life. That is the true ally.

On the other side of the scale of responses, there is the response of someone who explicitly doesn’t believe that. They believe they shouldn’t fight for you, they explicitly reject your cause, they hold firm that you are wrong, they are on the complete, evident opposite end. That is the obvious bigot, the racist, the oppressor. Hopefully, I don’t need to say too much to shed light on that. We’re aware of what that looks like, especially when expressed in an overt manner.

I then want you to imagine with this same scenario, same instance, you approach a friend and they say “I understand your cause, I understand where you’re coming from, I hate to see it but I’m not going to actively help you, I’m not willing to actively be there for you, I’m not willing to actively do something to help you, in ensuring that your family member, that your younger relative, that someone close to you, that someone who looks like you is treated the same way, is able to live a fair life, is treated in a manner that isn’t oppressive and unjust, is able to go about their life equally as everyone should.” I want you to imagine that a friend or someone you approached or was aware of your situation and took this neutral stance, that they weren’t showing they would be there with you fighting, actively pushing your cause on your side. They’re not saying they’re against you (oh no they wouldn’t say they’re against you), they say they’re not racist, but at the same time they are just going to stay where they are, enabled to do so by the position of their privilege (even if ignorantly unbeknownst to them) and wish you well, but they will not actively support you.

I want you to imagine that you’re in this situation and that it’s your family member, that it’s someone who’s life is at a constant risk just because of the way they look, the way you both look, and a friend or someone you know read a message you’d sent out, has seen the plight, the injustice, the cause, and the situation you yourself, or your family, or someone close to you, or someone who looks like you faces as I’ve described, and yet they’re not ready to actively step forward and actively fight with you for the position you’ve been subjected to. They may be “happy” with the motive of your cause, but they’re not ready to actively champion it with you.


Do you not see how in this situation you’d feel betrayed, upset, angry. You’d feel that their silence, their reluctance to act is just as good to you and to the fight for your cause, as someone who IS the oppressor on the other end of the divide. That is what Angela Davis means when she says “it is not enough to be non-racist. We must be anti-racist.” It is not enough to just say that you observe the injustice and you don’t support it. You must actively fight against it, you must actively be there to support those suffering the injustice. 

Once again imagine that is was a cause a close to home as your family, yourself, your future descendants, your children, your brothers, your sisters, your nieces, your nephews, your people that were in this position and being treated in such a way, and you saw that someone, a friend wasn’t there to support you, that they weren’t there to stand up for your cause with you, to fight alongside you, to actively be out there making a change, making a difference. You would not feel that it’s okay in any regard for them to sit there in silent acceptance, agreeing with your cause only in name. This is what it feels like to be in my shoes. This situation I face and the stance I see so many resided to. That neutral reaction is what in this day and age it means to be “non-racist” instead of being “anti-racist”, and that is not good enough.

You need to be active against the oppression and police brutality that black people have been facing, against racism that still is prevalent in the lives of so many black people both in the United States and further afield in the Black Lives Matter movement.

A few weeks ago before George Floyd was brutally murdered, I was watching the black comedian Michael Che’s stand-up special on Netflix where he addresses the phrase“Black Lives Matter” itself. He points to how the phrase to some still seems controversial. “Matters.” I repeat “matters.” That it is not an understood aspect of our society that the life of a black person is equal, that we should be treated the same as others, that Black Lives matter and have always mattered. This is where we are at and people seemingly still struggle to openly get behind it, but that is where we as black people are left: marching, protesting and calling for our voices to be heard, and we will continue to do so until the actions and world we see around us reflect that Black Lives do indeed MATTER. As we continue in this movement, please realize non-black people that there is no middle ground. Non-racism is not good enough. People must take action and be actively anti-racist.

Six Questions with Noah Haverlock

By Curiosity, Impact No Comments

Six Questions with Scholars of Finance is a series intended to highlight the thoughts and lives of our students at Scholars of Finance. In the series the students are simply asked six questions which we think embody the SOF experience and their answers are shared right here on the Scholars of Finance blog. In the first edition of Scholars of Finance we had the pleasure of sitting down with Noah Haverlock, a graduating senior at the University of St. Thomas in St. Paul, MN. If you are a student and would like to be featured in a segment of Six Questions with Scholars of Finance, please reach out to Jake Kranz via email.

What school do you go to?

University of St. Thomas Class of 2020

Do you have any employment plans in the near future?

I will be joining Chartwell full-time as an ESOP(Employee Stock Ownership Plan) Analyst.

Could you tell me a little bit about your experience with Scholars of Finance so far?

It’s been a long leadership journey for me so far. I’ve been involved with SOF for three years and started as a member of the symposium team in a minor role. From there I wanted to take on more of a leadership role and slowly worked my way up the ranks until I became the president of the chapter this last year. As a part of my role this year I had the opportunity to facilitate the LDP and it was very fulfilling seeing the participants grow. 

What is your favorite memory from Scholars of Finance so far?

My first symposium was a big memory especially since I was able to help out behind the scenes. That was the 2018 Symposium back when I was a sophomore. I didn’t know what it would feel like being a part of the leadership team pulling the event together, but it was really cool being a part of something that big.

What’s the most valuable lesson you’ve learned from Scholars of Finance?

It’s important to think about your values and bring them top of mind before you enter your career. Even if we don’t encounter ethical issues now, we will encounter them in the future. Knowing your values and having a line in the sand to guide you is huge.

If you could tell the next generation of SOF students anything – what would you tell them?

DIVE IN! You’ll get out of SoF what you put in and if there’s anything you’d like to learn about, or any skills you’d like to develop – you can – just ask around. Also, be sure to take advantage of the Speaker Series events and stay in contact with your mentor(s).

Control the 90%

By Courage, Curiosity No Comments

“Lately, the Charles R. Swindoll quote, ‘life is 10% what happens to you and 90% how you react to it,’ has really resonated with me.”

 

A few months ago, I received an internship offer from a company that I have loved for years and was going to be traveling across the country to a place I have always dreamed of living. Unfortunately, with everything surrounding COVID-19, they had to cancel their internship program due to budget cuts. When I got the news, to my surprise, I was relatively calm. Was I disappointed? Of course! This had been a dream of mine for the past few years and just like that, it was gone. However, I kept telling myself to keep things in perspective.

At this point, allowing my attention to gravitate towards everything beyond my control would do me no good. Instead of allowing negative thoughts to creep in, like “why does this have to happen to me”; “I don’t deserve this”; or “I wish I could catch a break”, I repositioned my thinking: what do I have direct influence over? From what I’ve learned in life so far from coaches and mentors of mine, I can only control two things: my attitude and my effort. With this mindset, everything was much simpler and I was able to think clearly.

As Mr. Swindoll was getting at, outside of these two things, I cannot control anything else. When unfavorable events occur, rather than centering your attention on the event itself and its negative impact, consider how you can move forward. This mentality has helped eliminate a lot of the stressors and negative thoughts I previously possessed. So many situations in life are out of our hands, but, at the same time, those in which we can control have a drastic influence on the way we see our world and the impact that we can make in it.

In the weeks and months ahead, my ask of you is to focus on what you can control. In simplest form, it’s your attitude and your effort. Inevitably, unfavorable and adverse times will occur in your life. Accepting that these events will happen and only focusing on things in which you have direct influence over is powerful. Control the 90%.

 

“Life is 10% what happens to you and 90% how you react to it” – Charles R. Swindoll

— 

Brandon Schmidt is a member of the Minneapolis Chapter of Scholars of Finance. Brandon is currently a sophomore at the University of St. Thomas and is majoring in Operations & Supply Chain Management with a minor in Data Analytics at the Opus College of Business.

Finding The Leader Within

By Curiosity, Humility No Comments

“Um… I-” I stuttered as my interviewer raised his eyebrow at me. I felt the heat rising to my face slowly until words clumsily stumbled out of my mouth, barely coherent. It was transparent to the four upperclassmen in the room grilling me that I was grossly underprepared. The next hour crept by, each question stinging me harder than the latter. My lack of knowledge was apparent. Finally, the hour was up, my torture was over. I gathered my resume and stumbled out of the room, frustrated. It was the first month of business school and I was already struggling.

As the elevator lurched down to the lobby of Stern’s Tisch Hall and screeched to a halt, I held back my tears. How was it that I was so unprepared? Why did they expect me to know all these advanced questions for a club interview? What are technicals?These questions continually circled through my head, especially when listening to my friends detail their positive interview experiences later that day in the dining hall. They laughed, sharing the inside jokes and connections they had already made with their interviewers while I dejectedly slurped up my Jamba Juice smoothie through a drenched paper straw. It was clear to me that I had no idea what breaking into business, tech, or finance entailed. Going to Stern, I thought the next four years were going to be a piece of cake. I was going to learn everything I needed to in class, and magically secure my dream job, touting my business school’s name at every major firm. In an hour, my mindset shifted from overconfidence to anxiety. How was I going to get a job if I couldn’t even get into a club at Stern? What do I need to learn and by when? How does everyone already know everything?

The anxiety persisted throughout my first month of college. I had only applied to and got rejected from one club, and had no direction with how I should be developing myself professionally. I turned to LinkedIn, scouring upperclassmen profiles, figuring out how to get involved, remain proactive, and abate my consternation. One day, when I thought all hope was lost, I received a message from Trent Madill, Chief of Staff Intern, reaching out to me about an organization called Scholars of Finance and the opportunity to co-found an NYU chapter. Thinking it to be a spam message, I checked the link attached to see the legitimacy of the website. Shocked by its extensiveness, I messaged Trent back, indicating my interest. My interview was lined up within the week, and this time, I was determined to be overprepared. Reading through the key tenets of Scholars of Finance, I was instantly drawn to the mentorship aspect. I needed guidance on how to navigate the complex world of finance and all it had to offer.

As I sped through the interview and onboarding process, it became evident that Scholars of Finance was an organization that would prioritize my professional needs and growth. The open conversations I had with our CEO, Ross, and our National Management Interns, Jake, Trent, and Mason, all gave me a platform to pitch myself confidently to the organization while being candid about my struggles and lack of knowledge. As elections for the NYU chapter rolled around, I knew I wanted to become as involved as possible, so I ran for President and had the privilege of being elected. Unfortunately, I was under the impression that becoming elected would be the hardest part when in reality, the arduous challenges were yet to come.

Having had extensive leadership experience in high school, I anticipated I already knew everything there was to know about leading and managing people. However, my first month as President was a complete disaster. My inability to properly delegate work and empower others to complete it became painfully obvious. My Slack Direct Messages were filled with feedback from my fellow leadership team members explaining how they felt out of the loop and unable to actually complete any work, and as I took over major initiatives, I left little room for collaboration. As this continued, I quickly became bottlenecked by all the work I needed to complete, resulting in the poor organization and execution of our programs. It was only when I spoke candidly to Ross that he identified the underlying issue. “Leadership is not about doing everything yourself. It’s not about controlling or forcing others to do it either. The best leaders empower others to reach their full potential and don’t have to lift a finger themselves.” I cried as Ross continued (I wish I could say that was the first and last time), because, deep down, I knew he was right. I needed to grow and make a significant change for the sake of my chapter and co-leaders. And so, I consistently sought his feedback and implemented SoF’s philosophy of being slow to speak and quick to listen. Consequently, it did not become hard for the NYU chapter to grow and become one of the highest functioning and engaged chapters in the organization. All it took was a little guidance.

And so, Scholars of Finance made me realize true leadership and mentorship is not just about learning technical knowledge or professional development. It’s about investing in someone’s growth to make them the best possible version of themselves. Looking back on this year, I can confidently say that Scholars of Finance has made me a much better leader and manager while equipping me with the skills to continue my growth in the future.

 

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Shivi Chauhan is the President and one of the original Co-Founders of the New York University chapter. She is currently a freshman at NYU Stern majoring in Finance and Data Science with a minor in Public Policy and Management. Along with Scholars of Finance, Shivi is a Copy Editor and Staff Writer for the Stern Gould Standard, a Research Assistant in the Management and Organizations department through the Stern Program for Undergraduate Research, and she will be joining NYU’s premier raas team, NYU Raas Malai, this coming fall. In her free time, Shivi likes to learn new languages and cook with her family.

The Adventures of Being Adrift

By Courage, Curiosity No Comments

Lost. It’s a feeling we have when we’re presented with what seems like an endless amount of choices, yet a very small amount of time to explore them. This isn’t just a familiar feeling for me, but it’s likely something that everyone who is reading this has felt at some point in their lives. I even let myself become adrift and consumed by this fear of seeming lost. I eventually came to realize that being adrift just meant that I had a new adventure in store. 

For me, that adventure began back in high school when it seemed like just about everyone was taking on specific activities and classes to get into certain schools. From an outsider’s perspective, it seemed like they had their life figured out, and I thought mine was too. Growing up in a family filled with engineers I believed my path had already been chosen for me. As senior year came to a close and having struggled through my AP Chemistry and Honors Physics classes, becoming an engineer no longer felt like the right path. I  always enjoyed my involvement in business clubs, yet it wasn’t until I visited Dubai in the summer after my senior year of high school that I truly fell in love with the business world. 

A few weeks before orientation at the University of Minnesota, I ventured out to see the marvel of a city that I had heard so much about⁓Dubai. The more time I spent there, the more I  learned how Dubai had transformed from an impoverished desert into a thriving metropolis. Before discovering oil, the people of Dubai relied on pearl diving as their primary source of income. However, after observing what happened in the rest of the Middle East, the king at the time, Sheikh Rashid bin Saeed Al Maktoum, had known that this resource wouldn’t last forever. Thus, they heavily and strategically invested to transform Dubai into the metropolis of wealth and wonder that we all know today. I discovered that Dubai’s transformation was fueled by their strategic investments, then fell in love with finance. Knowing that finance is a field that impacts billions of people and organizations globally, I decided to go against my familial norms and pursue a career in finance. 

I was thankful for this eye-opening realization, but it hadn’t dawned on me until after orientation, so I spent my freshman year working hard to transfer into The Carlson School of Management. I started to explore the different branches of finance, and uncovered that each one was so interesting to me and came with a myriad of opportunities : consulting, financial services, corporate finance and the most well known of them all, banking. The workaholic in me was instantly drawn to the world of banking, especially the 80 hour work weeks and high powered clients.

About halfway through my sophomore year, I was fortunate enough to visit Carlson alumni out in New York. While I was there, I became entranced by all of the people, companies, but mostly by the scale and caliber of the work they did.  In spite of all of this,  as I used our alumni connections coupled with the power of LinkedIn and started to study for banking interviews, I felt something was amiss. While I knew it might not be a perfect fit, I started to repress this feeling that something wasn’t right. After not knowing what field I wanted to go into and transferring into Carlson, I didn’t want to start from scratch again. On top of this, that summer I was already going to Singapore to do a corporate finance internship, but my mind was still set on banking.

The first few weeks of my internship felt endless, because of the lack of available work. That all changed as soon as I proved to our finance director that I could handle a heavier workload. During this time I was able to connect with her, and I never felt this connected to anyone or at ease when I explored banking. Through her mentorship, I was able to see corporate finance through a new lens. The work I had done had helped the organization stay accountable to its stakeholders, improved their business processes, and ensured their employees’ well being. I was even able to help them get a crisis management framework that they are using amidst the COVID-19 outbreak. 

While I loved the fast pace work environment of banking, I just couldn’t see myself fitting in with the organizational culture that surrounds it. Especially not for over 80 hours each week. The most important thing I had learned was that the workaholic in me would thrive in any environment, but finding a company that matched my values and where I felt a greater sense of community would be the biggest deciding factor. For me, that company is Microsoft.  I’m excited to start my virtual finance internship with them this summer, and for a new adventure to begin! Feeling lost can be daunting, but a little courage can go a long way. Courage isn’t always about confronting your fears, it’s accepting that you will feel lost again and there is nothing wrong with that. It’s better to conquer your fears than to let your fears conquer you.

 

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Subha Ravichandran is a member of Scholars of Finance and the Executive Vice President of the Minneapolis Chapter. Subha is currently a Junior at the University of Minnesota and is majoring in finance at the Carlson School of Management.