#BE

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Video: Summer Research 101 (2021)

Are you interested in summer research, but not sure how to successfully secure a position? Do you want to become a competitive candidate for on-campus and/or off-campus research opportunities? If you answered yes to either of these questions, this workshop is for you. Join Jacklyn Fischer (Career Center) and Prof. Deanna Donohoue as they walk you through the timeline and process of preparing a competitive application for any type of summer research.

Career Spotlights: Product Manager

Interested in pursuing a career as a Product Manager? Read and find out more information about what a career as a Product Manager will look like!

Job Duties

As a Product Manager, your main job is to make strategic decisions related to product management and provide in-depth expertise to improve the product. This profile is one of the most important profiles in every industry, especially in IT and manufacturing companies. A product manager is often considered as a “mini CEO” of a single product as they work closely with marketing, engineering, sales, and support to ensure customer satisfaction goals are met.

Where They Work

The role of Product Manager gained more and more popularity with the growth of technology companies. Based on a Statistic reported by Zippia.com, the biggest percentage of Product Managers work in tech companies and in Fortune 500 companies. However, Product Managers can also be found in other companies in the Manufacturing industry, Finance, Retail, and Health Care.

Working Conditions

As a Product Manager, you will work in a team with many different people to be able to ensure the success of the product. You will often work well over forty-hour weeks, including evenings and weekends. There is a great deal of pressure connected with this job due to numerous deadlines, schedule changes, and regular meetings with other managers. Many product managers must travel frequently throughout the United States and abroad to meet with their clients.

Education and training

Although every company will be different, candidates will usually need a Bachelor’s degree in business or a related field. Based on a report by Zippia.com, 72% of Product Managers have a Bachelor’s Degree, and 17% have a Masters’s Degree. Those who have completed a degree in economics, marketing, communications, or statistics will be preferred. Some companies even require a master’s degree in management. Before becoming the head Product Manager, a candidate will need at least two or three years of experience in the product management field. Other skills required to become a product manager are the following:

  • Business Expertise
  • Leadership Skills
  • Operational Ability
  • Strategic Thinking,
  • Analytical skills
  • Quantitative skills
  • Time Management
  • Negotiating skills

Pay and Benefits

The role of a product manager is one of the highest profiles in a company’s organizational structure (right below the CEO and board of directors). Therefore, the salary to work as a product manager can range from 70k/year in smaller companies to 140k/year in bigger ones. One of the biggest benefits of being promoted as Product Manager is being a step closer to being promoted as CEO of the company.

Oliver De Croock ’24, Student-Athlete at Lawrence University majoring in Economics and Career Peer Educator. Connect with me on LinkedIn.

My experience with the Harvard Business School CORe Program

During the summer of 2021, I participated in The Online Credential of Readiness (CORe) program by the Harvard Business School. In this article, I will share my experience so that future students that are interested in participating will be able to understand more about what to expect and decide if they are willing to commit to this program and gain an unbelievable experience. This program is funded by Lawrence University who is a collaborating college network with Harvard Business School.

What is CORe?

CORe consists of three courses: Business Analytics, Economics for Managers, and Financial Accounting. In each of the courses, you will get real-life scenarios from big companies like Apple, Amazon or Danaher, to smaller companies like a Yoga Studio in New York City or a Sports Ticket Seller in Boston. Classes are very interactive, with small videos in which the professors either explain the theory of the subject or interview someone relevant in the company, talking about that specific subject. These videos are usually between 2 to 15 minutes long. After each of the videos, there are usually some questions that you have to answer in order to go on or a page or two to read. There are also the so-called “Cold Calls” in which students will get randomly selected and will be asked a question that they will have only 2 minutes to answer. Although these questions aren’t graded, they are a way to keep the students on their toes, and personally, they forced me to listen and focus more, so that I could make sure to answer the questions correctly and move on. Throughout the course, you will also participate in discussions with your peers and ask them to try to explain a subject in a simpler way. In my case, one of my peers created a Whatsapp group in which we were all able to communicate and share our thoughts. I was even able to connect with many of them on LinkedIn.

Business Analytics

The Business Analytics class was probably my favorite one because it explained really complicated subjects in a very simple way that was easy to understand. It also demonstrated how real companies use these analytical techniques to manage and predict their sales, inventory, and forecasting staffing needs. This course taught me how to develop a data mindset, how to analyze and interpret data to make important business decisions and learn about regression analysis.

Economics for Managers

The Economics for Managers class was very interesting and was a good blend between economic theory and real-life scenarios, understanding how fundamental economic principles can be impacted by our day to day decisions. More in specific, we learned how to develop effective pricing strategies and identify sources of competitive advantage through differentiation.

Financial Accounting

Financial Accounting is the language of business, everyone that is willing to get into business needs at least some knowledge about how financial accounting works. This class will give you very important information that you need to know in order to understand how financial statements work, how to prepare and evaluate financial forecasts, and see how managers, Wall Street analysts, and entrepreneurs use accounting to drive strategic decision-making.

When is the best time to do it?

Although this course would be beneficial for anyone at any age, I believe that the best time to complete this course would be just after your first year at Lawrence. If you are studying economics, chances are that in your sophomore year you will go over the “sequence”, doing Microeconomics, Econometrics, and Macroeconomics. By participating in CORe, you will go over many of these subjects already, which will you an advantage in understanding these concepts early. This course can also be helpful for students who are not majoring in economics who are trying to get more of a business mindset and understand the basic concepts of these three very important courses.

Other than the advantage of understanding these concepts before anyone else, having completed a course from Harvard Business School will also be a great addition to your resume. Since getting an internship after the first year in college is unlikely, by completing this course, you will be able to add an incredible experience to your resume that is directly related to your major. This will show recruiters that not only do you have more knowledge than other candidates for completing the course but also that you are willing to go the extra mile to learn and improve yourself. HBS CORe is a great way to add the “Harvard” brand to your resume, learn some very important skills you need for any business setting, and put yourself on a higher pedestal that could be the difference between getting hired for a job, or not.

To apply to CORe, you will need to go through Lawrence Career Services who will help you get the funding necessary and give you the right directions to move on. Applications will open in the early winter term, so stay tuned for more, and don’t hesitate to reach out if you have any questions.

Oliver De Croock ’24, Student-Athlete at Lawrence University majoring in Economics and Career Peer Educator. Connect with me on LinkedIn.

Hiring Timeline and Internship Programs Series Part 2: Rotational Internships and Educational Programs

While summer is great to enjoy your time off, it is also a good time to start searching or applying for internships. There are many programs for anyone interested in a career relating to the #BE community. We have already covered many summer internships and their hiring timelines in Part 1, which you can see here. This week, we have Part 2 which covers Rotational Internships and Educational Programs.
Rotational Internships require you to work in multiple roles. Some of these types of programs are full-time jobs geared towards new grads. Educational or Training programs involve the participant’s learning.
Most applications for Rotational and Educational Programs open around July or August and the deadlines are usually in September or October for the following summer. It would be wise to plan ahead as during Lawrence’s academic year, you may find yourself busy with classes when these deadlines arrive. Here are some internships to start your search over the summer categorized by when their applications open to help plan out your application process.


Applications opening in July:

  • Cigna: Sales Academy – Deadline in October. For graduates who have had their Bachelor’s for 0-3 years.
  • Cigna: Actuarial Executive Development Program (AEDP) – Deadline in November. For graduates who have their Bachelor’s degree and professional experience for 0-4 years. Successful completion of minimum one SOA examination strongly recommended.

Applications opening in late August or early September:

Ongoing Applications:

Others:

  • Spotify: FAR Program – Deadline is in mid-February. This program is for recent graduates who identify with one or more underrepresented groups.
  • Glaxo Smith-Kline: Future Leaders Graduate Program – This 2-3 year program includes various opportunities in business, marketing, R&D and more!
  • Northern Trust: Opportunities and Student Programs – 12-18 month program for recent graduates. 3.0 GPA preferred.

Educational and Training Programs :

  • JP Morgan Chase: Winning Women Program and Advancing Black Pathways Program – Chase’s Winning Women Program is for currently enrolled female undergraduates that is open from May 2021 and closes by late June. Advancing Black Pathways is for students from underrepresented groups, first generation college students and others facing significant barriers when entering the financial industry. Applications are currently closed but if this interests you, feel free to keep an eye on it for next year!
  • International Monetary Fund Research Assistant Program – For recent graduates with a GPA of 3.5 and higher.
  • Disney: International Exchange and College Programs – The International Exchange program is for currently enrolled undergraduate students while the college programs are for both students and recent graduates.
  • Harvard Business School (HBS): Summer Venture in Management – Not to be confused with HBS’s CORe business classes, this management program is geared towards students who are from groups currently underrepresented in the corporate world, are first generation college students, or from schools whose graduates are underrepresented.

Once again, the majority of internships open during August/September and end up closing in the middle of our fall or winter terms, which makes it difficult to apply while handling all your other responsibilities at Lawrence. You can schedule an appointment with Grace, our #BE advisor (she’s available all summer too), or with Raisa, our CPE, to get help in planning ahead and preparing your applications!
Raisa Fatima ’23 Career Peer Educator

Hiring Timeline and Internship Programs Series Part 1: Summer Internships

There are a variety of internship programs for anyone interested in a career relating to #BE. We will cover many of them and the hiring timeline in a 2 Part Series: Part 1 covers companies offering Summer Internships and Part 2 covers Rotational Internships (ones where you have to work in multiple roles with some being full-time job programs geared towards new grads) and Educational Programs.
Focusing on Summer Internships in this article, most applications open around July or August and the deadlines are usually in September or October for the following summer. Given Lawrence’s academic year, you may find yourself busy with classes when these deadlines arrive, so it would be wise to plan ahead. For instance, select internships that interest you and prepare applications in the summer when you may have more time. Here are some internships to start your search over the summer and their application opening dates (program details and deadlines are in the links) to help plan out your application process.

Applications Opening in August:

Microsoft ACE Rotation Program – Applications for 2022 open in August 2021 (mainly for Juniors and Seniors interested in pursuing careers in Marketing).

Microsoft University Internship – Typically, most applications open in August or December, however some open in March.

Cigna: Technology Early Career Development Program (TECDP) – Applications open starting August 2021 for Juniors and Seniors.

Cigna: Operations Leadership Development Program (OLDP) Summer Internship – Applications open starting August 2021 (mainly for Seniors who have just graduated as they are looking for people with a Bachelor’s Degree in related fields).

Applications open Starting September:

Cigna: Summer Internship Program – Applications open from September to November annually for Juniors and Seniors.

Spotify: Global Summer Internship – Early applications open in the Fall with some opening over spring and summer. Some are still open, so if working for Spotify interests you, be sure to check them out!

L’Oreal: USA Summer Internship Program – Operations– Undergraduate (Supply Chain / Manufacturing) – Applications are for Juniors and open up early September with interviews occurring from September to January.

Uber Student Internships: Applications are open from September to November.

Uber Student Internships: Applications are open from September to November.

Others:

Undergraduate Leadership Programs – There are a variety of leadership programs for undergraduate students. If working with this company and the programs they offer interest you, you can go through them here.

JP Morgan Internship Program: Typically open from April to October.

CSX Internships: Opportunities are posted as they become available.

If none of these internships interest you, that’s alright! The next part in this series covers rotational internships and educational programs so be sure to check them out as well!
The majority of the internships open during August/September and end up closing in the middle of our fall or winter terms, which can make it difficult to apply while handling all your other responsibilities at Lawrence. To get help in planning ahead and preparing your applications, schedule an appointment with Grace, our #BE advisor (she’s available all summer too), or with Raisa, our CPE!
Raisa Fatima ’23 Career Peer Educator

Career Spotlights: Banking

Banking can be a lucrative career for anyone in the business and entrepreneurship career community. However, there are many different types of financial institutions, each serving their clients in different ways and working in different areas of finance. Unsure on what kinds of customers you want to serve or what aspect of finance you want to work with? Here are some types of banks and organizations to help you see which one interests you the most.


Traditional Banks: Consumers deposit funds in checking and saving accounts. Most big banks in America like Wells Fargo, JP Morgan Chase, and Bank of America fit into this description. These banks are regulated by the Federal Deposit Insurance Corporation (FDIC) which insures deposits in banks against losses in bank failures to maintain economic stability.


Commercial Bank: They offer services to both personal consumers and businesses by making short-term loans to both groups. There is a lot of overlap between traditional and commercial banks as many of the traditional banks mentioned above operate as commercial ones by giving out loans.


Credit Unions: Credit Unions have members who can borrow from a credit union’s combined deposits at a low interest rate. They are typically non-profit and members are their shareholders. The National Credit Union Administration (NCUA) regulates and supervises federal credit unions.


Investment Banks: These types of banks help companies determine how much they should pay when buying another company, new ways to invest their profits, or advise companies on borrowing money. They also advise clients on selling stocks and bonds.


The Federal Reserve: The Federal Reserve or the Fed regulates banks and determines monetary policies to stabilize inflation, reduce unemployment and moderate long term interest rates. If you’re interested in working at the policy level when it comes to finance, working for the Fed could be an option.


Micro Credit: Typically, micro credit or micro loans are small loans given to people who don’t have collateral or a lot of money to pay back huge sums or interest. These loans are often used to encourage entrepreneurship and help people out of poverty. If you’re someone who is interested in combining your interest in finance with economic development, micro credit could be an interesting field for you.


Online/Virtual Banks: Banks that operate exclusively online and don’t have branches.

Raisa Fatima ’23 is a Physics major with interests in research and engineering. She enjoys painting, reading and playing games like Stardew Valley in her spare time. Raisa works as a Career Peer Educator for the BE and PHN career communities so if you’re interested in anything PHN or BE related, or you just need some general advice on anything professional development related like resumes, cover letter etc. you can schedule an appointment here.