Credits - Aum Samel, B.Tech, Mechanical Engineering 2024

In which company did you pursue your second-year internship, and where was your place of work?

I interned at WhiteOak Capital, an asset management company specializing in mutual funds. It’s a relatively new firm, about 5-6 years old. You can find more details on their website. My work location was in Prabhadevi, Mumbai. The internship lasted for 7 weeks.

Can you tell us about the work you were assigned during your internship? What were your responsibilities?

My work primarily involved data analysis, research, and presenting findings. I didn’t have a main project; instead, I handled various small tasks. One of the projects was about creating a framework for analyzing financial ratios across companies in India, Thailand, and Brazil, focusing on metrics like the enterprise value to free cash flow ratio. I also worked on setting up a pipeline for data aggregation using FactSet. Another project involved streamlining a long manual process for calculating attrition rates by leveraging Microsoft Excel.

Describe a typical day at your internship. How were your interactions on a daily basis?

My day started with a one-hour commute, reaching the office around 10-10:30 AM. One of the analysts had given me insights into how the company operated. I would first go through the emails from the previous day and plan my tasks for the day. I would check in with my manager twice daily. There were major meetings twice a week, and I would seldom sit in on these meetings. After lunch, I often found myself with some free time, due to a lighter workload. I devoted some of this free time to talking to other employees about their career paths and exit options. I usually logged off around 5 PM.

In addition to my internship responsibilities, I had to manage my position of responsibility (POR) work. As the head of the DAV Team, I conducted interviews for team recruitment. It was hectic, but it was important that my internship didn’t fully exhaust me, especially since balancing PORs and an internship can be challenging.

What were the different tools you used during this internship?

I used Excel extensively for analysis, creating pipelines to import data, and automating processes with programming, including Excel macros and bash scripting. My prior programming experience helped with this. I also used FactSet for financial data analysis.

What is something you didn’t know would be a relevant skill to have but helped you in your internship, or what was a skill you were surprised to figure out you needed for your internship?

In non-tech internships, effective communication with your manager is crucial. One of the key skills is estimating the time required to complete tasks. It’s better to request more time and then deliver early—under-commit and over-deliver. Asking the right questions is also essential. You need to clearly understand the scope of the project, expected outcomes, and the overall outlook from your manager. Don’t be afraid of being judged; it’s important to ask questions and be truthful throughout the internship.

Another underrated skill is the ability to effectively use Google to find information. In college, we’re often given a set script of tasks, but in an internship, things are more open-ended, and you need to figure things out on your own. While technical skills are more critical in tech roles, in non-tech roles, you don’t necessarily need to learn everything in advance, even with tools like Excel.

How was your transition to the city, accommodation, food, and transportation?

Since I’m Maharashtrian and speak Marathi, there was no language barrier, which can otherwise be a major issue in daily interactions, like with auto drivers or in shops. This was my first time living alone, even though on campus you’re surrounded by people. Managing everything by myself felt empowering, especially by the second year when many haven’t yet had this experience. Navigating the city and spending time alone helped me build confidence that I could handle myself in a new environment.

Living through the heavy rains in May and June was challenging. I had to adapt by keeping formal shoes in the office and wearing sports shoes while commuting by local trains. The place I stayed in was quite different from my home, but my time in H6 made me resilient enough to handle it. I did experience some cultural shock, but I adjusted over time. Overall, it was a good growth experience.

How is the work culture like at the company? Were there any inspirational people you met?

The work culture at the company was quite positive, especially compared to what I had heard about finance. It wasn’t toxic, and there was no undue pressure. Everyone’s opinions were valued, and people lower in the hierarchy weren’t given menial tasks. While there was a hierarchy due to the nature of the work and experience, seniors didn’t exploit juniors.

I met some inspirational people during my time there. The company had a startup-like vibe because many of the founders had been in the field for a long time. I worked closely with three people from diverse backgrounds: a CA, someone from BITS Pilani with a CS background, and another from Australia. They were very helpful, accommodating, and didn’t put much pressure on me. They were fun to hang out with and had a good understanding of the industry. Their awareness and experience were impressive, especially in a field where market conditions can be significantly influenced by various factors.

Any advice for people going to work in the same company?

Interact with as many people as you can. While I did engage with those around me, it would have been beneficial to connect with a wider variety of people to understand different roles within the company. Sitting with others during lunch or informal gatherings can help you get a sector-wise perspective. Make an effort to learn about different roles in asset management, as you might become interested in a different role later. Also, effective communication with everyone around you is crucial.

How was your 3rd-year internship at BCG different from your 2nd-year internship at WhiteOak Capital?

During my 3rd-year internship at BCG, the experience was quite different from my 2nd-year stint at WhiteOak Capital. I didn’t have much work, however, the pace picked up as time progressed. Over time, the project lead trusted me more and gave me increased responsibilities, including direct client interaction and project implementation. I appreciated the freedom I had, as well as the support from the team.

One major difference was the scope and depth of work. At BCG, I was more involved in client presentations and weekly meetings. The role was more hands-on and gave me a clearer idea of what the position entailed, as I was actually performing tasks related to the role I’d be joining. Additionally, BCG provided a streamlined experience with accommodations and transportation covered, which made the internship more comfortable.

How did this internship shape or affect your personal goals and journey?

Going into my internship, I was unsure about my career direction. In my 2nd year, I was considering various options, including mechanical engineering, non-tech roles, and technical data analytics. My exposure to finance through my 2nd year internship was somewhat by chance rather than a deliberate choice.

From this internship, I concluded that finance is a viable option for me, though I didn’t develop strong opinions one way or the other. I also learned to be independent and gained a better understanding of the office environment.

When choosing an internship, I realized the importance of evaluating the industry and whether it aligns with your long-term goals, rather than focusing solely on the stipend or brand name of the company. Even though WhiteOak Capital wasn’t a big brand, the quality of work provided valuable experience and added significantly to my resume. It’s important to balance brand recognition with the quality of work when selecting an internship.