The Summer of 2009 found MIB students in professional internships across the globe, building on their first-year foundation courses. Students participated in internships from the public, private and non-profit sectors and in a diverse array of industries including investment banking, private equity in emerging markets, political risk consulting, high tech, R&D, environmental sustainability, economic development, microfinance, and mobile banking among others. Over a third of all internships took place in the emerging markets, specifically China, India, Brazil, Chile, Ukraine, Kenya, Kazakhstan, Kuwait and Saudi Arabia. All students found an opportunity over the summer to enhance their work experience; over 90% had an internship, while the remainder pursued language studies or conducted research with a faculty member.
“My summer internship was in Booz&Co’s Middle East office in Dubai, where I was aligned to their public sector strategy practice. My role was very dynamic and the experience was extraordinarily rewarding. I had the opportunity to develop leadership skills as a junior manager for a team of three, and as a coach for junior consultants learning to design manpower, population, and financial models. Together, we produced and presented a strategic roadmap and business plan for a new government agency in a GCC country. At the same time, I was coached by two excellent mentors as I wrote a proposal to design the national export and investment strategies and promotion agency plans for a local government in the GCC.
The job was related to my thesis about sustainable economic diversification, and Abu Dhabi and Dubai’s rapid process of diversification in particular. The summer assignments were a lot of fun, and I am glad to say they are looking for more interns from Fletcher.”
“I found my internship through Fletcher’s consulting course, which pairs student teams with real clients. During the course I worked on a consulting project assessing possible carbon reduction investment opportunities in the US natural gas sector. Our client, Climate Change Capital, a UK-based Investment Manager, had undertaken GHG Offset projects under the Clean Development Mechanism pipelines and was assessing similar opportunities in the US.
The consulting project led to an internship at MJ Bradley & Associates, a utility and environmental consultancy that CCC had recently acquired here in the US. The first part of my internship was devoted to assessing market opportunities for offset projects. I worked on several different projects ranging from a combined heat and power market opportunities assessment for a European Genset producer to regulatory analysis for large US utilities.
The internship was extremely rewarding. I published an article about possible options for natural gas local distribution companies to reduce GHG emissions under the proposed federal carbon legislation. My master’s thesis ties directly to my internship, which is a valuation case study focusing on the acquisition process between the two companies."
"While working for a Private Equity firm in Eastern Europe this summer, I was challenged with a difficult assignment. Advising the CEO of a growing retail grocery store chain, I helped to provide a solution for integrating 2 newly acquired competitors, which expanded the company’s portfolio from 7 to 80 stores. My work focused on producing a model for evaluating options for debt restructuring and analyzing store viability. I stepped in to help guide negotiations with local and international financial institutions, which led to securing new sources of capital for the company. Before returning to Boston, I was asked to delay graduate school for one year to become the CFO during this transition period. While flattering, I choose to return to Fletcher and am now writing a case study about the company for my thesis."
"AltE Finance is a newly founded financial services firm that provides capital raising, strategic advisory, consulting, and research services exclusively to the alternative energy industry. My summer internship at AltE Finance entailed working closely with the company principal, a Fletcher alum, to support various aspects of the company’s business development efforts. Specifically, I prepared comparable company analyses (“comps”) for several renewable energy sectors, prepared presentations and pitchbooks, tracked capital raising and mergers & acquisitions, and wrote digests of notable announcements. In addition, I participated in meetings with prospective clients.
I found my experience at AltE Finance to be rewarding in several ways. The internship allowed me to gain practical investment banking experience while also learning about the renewable energy industry in greater detail. Moreover, I gained an appreciation of the challenges and opportunities inherent in starting a new company."
"I spent my summer at Microsoft in Bangalore, India working for a group designing an ultra low-cost multimedia device, for information dissemination in rural areas and low-income communities. An interesting part of my internship was during the last week. I went to Delhi and presented the product in front of a panel that included Bill Gates. It was very exciting!"
“Part of my reason for returning to school was to change the regional focus of my career. I have a passion for the history and culture of the Middle East and have traveled extensively in the region. However, since I have no prior professional experience there, I used my internship to bridge this gap. My summer in Saudi Arabia provided me with my desired Middle East credentials, but it also brought much more. Having the opportunity to participate in senior executive-level decisions allowed me to truly understand the unique challenges that business leaders face in the region.
Working directly with the COO and CFO of a major luxury goods retailer, I conducted a profitability analysis of the company’s various product lines. To complete the work, I drew heavily on knowledge gained from my Managerial Accounting class at Fletcher, and even borrowed a slide directly from one of our lectures. I transformed the findings of this analysis into strategic recommendations which supported a major reorganization. As a result, the company is now developing a new store concept which will help it to better manage the severe capital constraints that are a fact of life for Saudi businesses.”
"I spent my summer internship at Chemonics International Inc. (CII), which is a private sector development consulting firm whose primary client is USAID. I worked in the New Business Development section of the department responsible for the Africa Region and Post-Conflict Reconstruction projects. My tasks included preparing a corporate capabilities assessment and past-performance evaluation of CII's and its partners' former projects. These projects encompassed Public-Private Partnerships in post-conflict Sub-Saharan Africa; tracking and researching donor-funded post-conflict reconstruction projects engaging both the public and private sectors; analyzing and forecasting policy trends; and recruiting a project manager for a proposal in East Africa.
During my internship, I also participated in Do No Harm training. This experience provided me with great insight into how development consulting firms and USAID work as well as the latest development policy trends. I also learned how to effectively multitask in a hectic environment, working on several projects at the same time. My co-workers were fun, bringing a variety of development experience to the table, and I value the opportunity to have worked with them."
“I found my internship through the Career Services Washington, DC Career Trip. I spoke with a Fletcher alum at one of the events, and was able to submit my resume to him. My job was to perform an operational risk assessment for DOE-sponsored energy projects that received over $30 billion in DOE stimulus funding. I worked with a highly-energetic, talented team of private sector-minded individuals working within, and often times around, the confines of a weighty government bureaucracy. It provided great combination of public and private sector perspectives, and I was able to get a cross-cutting view of many different energy technologies. At the end, I was selected to present to the CFO one-on-one about a potentially high-risk project I had been monitoring all summer. My internship also worked out very well for my thesis. They wanted to keep me part-time over the course of the year to work remotely, so I suggested we collaborate on a project/ strategy paper on venture markets, which will be the basis of my thesis.”
“OPIC – The Overseas Private Investment Corporation – is an independent U.S. government agency that helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, and complements the private sector in managing risks associated with foreign direct investment. My summer internship focused on political risk analysis and corporate due diligence. I was asked to evaluate and contribute to OPIC’s new political risk model and risk sharing model. They were redefining their model and entrusted me with taking it apart, stress testing it, and critiquing it. I also constructed presentations for the VP on short- and long-term strategy to be presented to the OPIC board. It ties into my thesis looking at how, for the first time, a political risk agency is providing insurance to private equity funds. It also gave me some great contacts for our student-led conference on Managing Political Risk.”