industry chat: social impact - university of …...industry chat: social impact september 2017...
TRANSCRIPT
Industry Chat: Social Impact September 2017
Jennifer Savoie, Senior Associate Director
Hanne Berg, Recruiting Relationship Manager
MBA Career Management
MBA Career Management Social Impact Team
Career Advice
• Self-assessment & decision
making
• Networking
• Industry Insight
• Resumes, Cover Letter &
Interview Prep
Corporate Relationships
• Develop employer outreach
strategy with RRM
Programming
• Develop programs for students
interested in Social Impact
JENNIFER SAVOIESENIOR ASSOCIATE
DIRECTOR
Corporate Relationships
• Strategize best recruiting
approach for variety of employers
• Co-manage employer
relationships with Career Advisor
• Manage recruiting events
Student Support
• Assist students with logistics of
on-campus interview process, job
board postings, etc.
HANNE BERGRECRUITING RELATIONSHIP
MANAGER
Collaborate with Social Impact Club, Wharton Social Impact Initiative, Wharton Public Policy
Initiative and the Wharton Institute for Global Environmental Leadership (IGEL)
Social Impact Stories
• Prior to Wharton: Education Pioneers and Deloitte
• Internship: GSV Labs (accelerator)
• Post Wharton:
• International Consultant, The Bridgespan Group (Boston)
• Prior to Wharton: Monitor Group and Teach for America
• Internship: New Schools Venture Fund
• Post Wharton:
• Sr Director, Data & Operations, Summit Public Schools (San Francisco, CA)
• Prior to Wharton: Analyst, Oliver Wyman (consulting)
• Internships: Omidyar Network / NetaFilm
• Post Wharton:
• Associate, Draper Richards Kaplan Foundation (San Francisco)
• Prior to Wharton: Assitant VP, Cowen (formerly ConvergEx Group)
• Internship: Ignia Partners, Mexicio City, Mexico
• Post Wharton:
• Associate, City Light Capital (New York)
Mary
Gamber
(WG’17)
Josh
Lotstein
(WG’15)
Deepa
Iyer
(WG’16)
Sarah
Millar
(Lauder)
(WG’16)
Agenda
• Industry Overview
• The Marketplace
• The Social Impact Job Search
• Social Impact at Wharton
• Next Steps and Reminders
• Q & A
Industry Overview
Social Impact Industry Overview
Social Finance
Development Finance
Impact Investing
Microfinance
Financial Inclusion
Education
School Districts
Charter School Management
Educational Enterprises
Ed Tech
Government / Public Sector
Federal
Agencies & Bureaus
State/City
Military
Nonprofit/Social Enterprise
Foundations
Development Organizations &
NGOs
Nonprofits
Social Enterprises
Also, some CSR and Corporate Sustainability roles in private sector
Overview: Social Finance
Social Finance
Development Finance
Impact Investing
Microfinance
Financial Inclusion
Sample Internships / Roles:
Impact Investing Group (Sydney, Australia)
• Conducted Sector mapping, modeled current
investments and evaluated potential investment
opportunities & pitched to company
Edge Growth (South Africa)
• Assigned two dozen companies over 10 weeks with full
responsibility for investing process. Led diligence calls
with management, industry / market checks, financial
modeling, market sizing, management evaluation, etc.
Overview: Education
Education
School Districts
Charter School Management
Educational Enterprises
Ed Tech
Sample Internships / Roles:
Education Pioneers / Freedom Prep (Camden, NJ)
• Scoped and executed strategic project analyzing
teacher recruitment and retention across three schools
supporting 800 students.
Goldieblox (Oakland, CA)
• Worked with engineers and designers in early stage
startup to develop app, create marketing campaign for
3 launches to double product line, strategized next
generation products.
Overview: Government/ Public Sector
Government / Public Sector
Federal
Agencies & Bureaus
State/City
Military
Sample Internships / Roles:
Metropolitan Transit Authority (NYC)
• For strategic planning of the $30B Capital Program for
upgrading the subway system and stations, built Excel VBA
forecast for the capital program across functions including
budget planning, financing, capital and operations.
U.S. Department of the Treasury – (DC)
• Analyzed financial market, regulatory, and macroeconomic
developments in the Middle East for Under Secretary Nathan
Sheets and Assistant Secretary Ramin Toloui; coverage
portfolio consisted of Iraq, Kurdistan, Turkey, and Saudi Arabia
Overview: Nonprofit / Social Enterprise
Nonprofit/Social Enterprise
Foundations
Development Organizations &
NGOs
Nonprofits
Social Enterprises
Sample Internships / Roles:
REDF (San Francisco, WA)
• Developed suggested business models, financial
projections and business development plans for
employment social enterprises in “good fit” industries..
Rockefeller Foundation (NYC)
• Developed framework and action plan for inclusion and
gender equity; recommended key indicators for impact
evaluation
And how about CSR / Sustainability?
• Recruiting is very
“enterprise”
• Internships are rare
• Roles exist in
different groups; little
standardization
Sample Internships / Roles:
BSR (Business for Social Responsibility) (NYC)
• Devised strategic approach to a global technology
company’s human trafficking prevention efforts, in
accordance with latest international laws and standards;
introduced innovation management and product design
principles to be implemented among leading sharing
economy firms (including Airbnb, Lyft, and Uber)
Microsoft (Research Intern, Sustainability) (Seattle, WA)
• Conducted primary and secondary research to identify
revenue-driving synergies between Microsoft and energy-
sector enterprise partners through self-arranged meetings
with numerous Microsoft teams, partners, and vendors.
Developed energy strategy business case for CFO and
other senior Microsoft leaders on behalf of the Chief
Sustainability Officer with goal to penetrate $100B+
industry in twelve month
The Marketplace
Employers who made Internship Offers in 2017 Preliminary Data as of 8/27/2017
• Acumen
• Africa Healthcare Network
• African Clean Energy
• Almata Health
• AV Ventures
• Avivar Capital
• Bastogne Venture
Partners
• Bill & Melinda Gates
Foundation
• CDC Group
• CK-12 Foundation
• D.Light
• Dalberg Global
Development Advisors
• Dasra
• Education Pioneers
• GiveDirectly
• Hotels Against Poverty
• IFC Asset Management
Company, LLC (AMC)
• ILUMEXICO
• Inspiring Capital
• International Finance
Corporation
• MIGA
• National Park Service
• New York City Ballet
• OECD
• Off Grid Electric
• Omidyar Network
• Overseas Private
Investment Corporation
(OPIC)
• Philadelphia Museum of
Art
• Reach Capital
• Rising Academies
• RSF Social Finance
• Summit Public Schools
• Suyo
• Teach for America (NY)
• The Palladium Group
• The Primary School
• Tideline
• U.S. Department of the
Treasury
• United Nations
• United Nations World Food
Programme
• United States Navy
• University of Texas
• Wharton Social Impact
Initiative
• World Bicycle Relief /
Buffalo Bicycles
MBA Career Management
Social Impact Summer Non-U.S. Locations(Summers of 2017)
Employer City / Country
Africa Healthcare Network Dar Es Salaam - TanzaniaAfrican Clean Energy Amsterdam - NetherlandsAlmata Health Mumbai - IndiaAV Ventures Accra - GhanaCDC Group London - United KingdomD.Light Nairobi - KenyaDalberg Global Development Advisors New Delhi - IndiaDasra Mumbai - IndiaGiveDirectly Kisumu - KenyaILUMEXICO Mexico City - MexicoOrg. for Economic Co-operation and Development (OECD) Paris - FranceRising Academies Monrovia - LiberiaRising Academy Network Freetown - Sierra LeoneSuyo Medellin - ColombiaUnited Nations Development Programme Bangkok - Thailand
Social Impact Internship Offers
MBA Career Management
0
10
20
30
40
50
60
70
2011 2012 2013 2014 2015 2016 2017 *
Offers
Accepts
* Data still preliminary
0
5
10
15
20
25
Source / Timing - Social Impact Internship Offers: Class of 2018 *Preliminary data as of 8/1/2017
20%
20%
20%
40%
Personal NetworkingConnections
Return to PreviousEmployer
Wharton Job - JobPosting
Other
Internship Compensation: Social Impact
$2,500 $2,800
$3,000
$4,000
$2,500
$3,142
$3,959
500
1,500
2,500
3,500
4,500
2011 2012 2013 2014 2015 2016 2017
Median Monthly Salary
Financial support available – applications in March/April or later:
• Wharton Social Impact Initiative (very limited)
• Penn Wharton Public Policy Initiative
• Penn Wharton Entrepreneurship - Startup Internship Award
Summer 2016
Salary Support for Fulltime Social Impact
2017, Full-time, median base annual salary: $100,000 (preliminary)
2016, Full-time, median base annual salary: $95,000
2015, Full-time, median base annual salary: $97,000
Bendheim Loan Forgiveness Program (since 2005)
Awards are based on
Commitment to the public and/or non-profit sectors
Long-term career goals
And financial need
Developing a “Fellows” model to connect awardees with Wharton students
MBA Career Management
Bendheim Fellows meet with founders
The Bendheim family has a long legacy of involvement at the
University of Pennsylvania; proud graduates include John
Bendheim, W’40; John M. Bendheim, Jr., W’75; Thomas
Bendheim, WG’90, G’90, and his wife Kathryn Bendheim, WG’90.
The Social Impact Job Search
What do Social Impact Recruiters look for?• Culture fit
• Attend recruiting events
• Proactive outreach to Wharton alums and recruiting leaders
• Passion for mission
• Desire for social change
• Knowledge about industry
• Self-starters
• Smaller teams and limited resources means there is little or no bandwidth to provide support on the job
• Need to be able to perform with less resources
• Experience from startups and entrepreneurial mindset tends to be a good match for smaller organizations
• Technical Skills
• Varies by subsector
• Consulting skillset, analytical skills
• Comfort with ambiguity
Is Social Impact for YOU?
• Functional experience
• Adaptability
• Communication skills
• Produce with limited
resources
• Leadership and
Teamwork
• Independent work
• Strategic thinking
• Implementation skills
• Commitment
• Humility
• Passion
SKILLS
• Diverse teams
• Passionate co-workers
• Collaborative
environments
• Opportunities for early
responsibility
• Meaningful work
• Often process oriented
and consensus driven
CULTURE
• Hours can be better
than private sector
• Work can still be
demanding
• Some competitive pay
rates, but often lack
standard bonus
• Many non-profits
highlight their strong
benefits packages
WORK/LIFE
Two Strategies = Two Skillsets
MATUREMATURE ENTERPRISE
• Navigate unstructured process
and timeline
• Be ready if an opportunity
becomes available
• Prepare for multi-format
networking opportunities
• Proactively build & leverage
network, pitch solutions and
employment opportunities
• Travel to companies and
recruiters
• Sustain recruiting efforts
throughout the year
• Follow structured process and
timeline
• Be ready for when an
opportunity is available
• Prepare for and attend “formal”
recruiting events
• Market your candidacy and
differentiators
• Conduct on-campus interviews
• Manage heavy recruiting
schedule in fall/winter
Tailor your strategy to the company/role
to ensure recruiting success
Things aren’t always black & white within one industry
Mature/Enterprise: Social Impact Landscape
Level of
Wharton MBA
Engagement
High
Mature
Company Recruiting Approach
Low
Enterprise
MBA Career Management
Social Impact
Self-assessmentExplore your interests, skills and values
Research and StrategyResearch and identify target organizations, functions and geographies. Create a job search plan
NetworkingEngage in conversations to build relationships, gather information and identify potential opportunities.
Cover Letter DevelopmentCreate a documents that complement your resume and demonstrate your interest and qualifications
for specific jobs
Resume DevelopmentCreate a document that demonstrates your
experience and skill set
InterviewingPrepare for and engage in conversations about your interest and qualifications for
specific jobs
Offer ManagementEvaluate job offer(s) and manage employer relationships
Transition to WorkPrepare for internship
August - November
August - January
November - April
October - May
August - October
January - May
February - May
May –
July
Social Impact Search Timeline
Social Impact at Wharton
Social Impact at Wharton
Penn Wharton Public Policy Initiative
Wharton Social Impact Club
The Nonprofit Board Leadership Program (NBLP)
Wharton Community Consultants
Wharton Energy Club
Wharton Global Impact Consultants
Wharton IGEL - Initiative for Global Environmental Leadership
Wharton Impact Investing Partners
Wharton Social Impact Initiative
Wharton Sustainable Business Coalition
Wharton Africa Growth Partners
Say Yes to Education
Wharton Global Health Volunteers
MBA Career Management
Wharton Social Impact Initiative
MBA Career Management
Penn Wharton Public Policy Initiative
Wharton Institute for Global Environmental
Leadership (IGEL)
A hub for public policy research and education with the goal of
leveraging the University’s resources to foster better-informed
policymaking on issues related to business and the economy.
Promotes knowledge for business sustainability. IGEL works
with a diverse and interdisciplinary network to develop and
disseminate innovative research and business practices to solve
the most pressing environmental issues facing our planet.
Advances the science and practice of social impact through
research, hands-on training, and outreach
Wharton Social Impact Club (WSIC) Mission
ENABLE: build WSIC as a student-powered organization that supports members’ needs.
CONNECT: foster connections within WSIC, Penn, and externally, and expand Wharton's footprint in social impact.
KNOW: help members generate and share knowledge about the social impact space.
Wharton Social Impact Club
Fast Facts:
• WGA Social Impact @ Wharton: September 5, 12pm, JMHH 255
• Social Impact Happy Hour: September 8, 5:00 pm (Bonner’s)
• ~250 Club Members
IMPACTFUL
THURSDAYS
Weekly lunch and
learn sessions,
featuring guest
speakers & leaders
Sector 101s
SOCIAL IMPACT
CONFERENCE
Annual Wharton-wide
conference, attracting
leading industry
practitioners
Collaboration with
WSII and WEMBA
Spring 2018
SOCIAL IMPACT
WEEK
Full week of speaker
events and SGDs
focused on social
impact
Collaboration with
other clubs
Spring 2018
CAREER
PROGRAMMING
Weekly career
updates
1Y/2Y mentorship
EIS’s
Career treks to SF,
DC, NYC
Workshops
Events and Resources
• Social Impact Club’s Impactful Thursdays
“Social Impact Recruiting 101” - Thursday, September 28
• Employer Information Sessions (Begin October 23, 2017)
• International Finance Corporation (IFC) – 9/27/2017
• Education Pioneers -- 10/25/2017
• Wharton People Analytics -- 10/31/2017
• Endeavor -- 11/1/2017
• Bill & Melinda Gates Foundation -- 11/13/2017
• Blue Haven Initiative -- 11/8/2017
• Inspiring Capital and National Park Service -- 9/27/2017
• First-Year Networking Expo – October 30
MBA Career Management
Final Reminders
• MBACM
─ One-on-One Advising (use CareerPath to sign-up / stop by office hours)
─ Attend WGA Social Impact @ Wharton: September 5, 12pm, JMHH 255
─ Attend Career Management Workshops
─ Developing Your Pitch
─ 2-Hour Job Search
─ Navigating the Enterprise Job Search
─ And more!
• Join all relevant clubs!
Sign up in CareerPath for “Social
Impact” emails from MBACM (via
your “Background” section)
Contact Information
Wharton MBA Career Management
50 McNeil Building, 3718 Locust Walk, 215-898-4383
Website: http://mbacareers.wharton.upenn.edu/student
General Email Inquires: [email protected]
Jennifer Savoie, Career Advisor
Hanne Berg, Recruiting Relationship Manager
Follow MBA Career Management:
@WhartonMBACM
WhartonMBACM
Questions?
APPENDIX
Additional Information
Lipman Prize Fellows Application Now Open
The McNulty Leadership Program is now accepting applications for Lipman Prize Fellows
that will serve during the 2017-2018 academic year.
Applications will close on Monday, September 5th at 11:59pm (PDT).
Lipman Prize Fellows do real-world work supporting the Lipman Family Prize including
participating in the selection process, network building and learning directly from Prize
honorees. Fellows use these experiences to explore their own leadership development
and learn about high-quality social sector organizations in a peer learning community.
Sectors
Education
Food & Nutrition
EnergyEnvironment
Financial Inclusion
Health & Wellness
Wharton Impact Investing Partners (WIIP)
37
INNOVATIVE FINANCE, REAL SOCIAL SOLUTIONS
WIIP is a student-led impact investing group that facilitates investments in
companies with venture-growth potential and measurable social impact.
Investment Partners
INTERESTED IN LEARNING MORE / WANT TO APPLY?
• Visit us at www.whartonimpactinvestingpartners.com
• Email us at [email protected]
• See us at info sessions (9/6), Club Pub (9/7) or coffee chats (9/8, 9/11, 9/12)
Applications due September 12th, 2017 at 11:59 PM
Additional Opportunities
Social Impact @ Wharton
• 6 Investments
• 2 Exits
• 3 Strategy Projects
Career Treks and Internships
Alumni Events
Conferences &
Case Competitions
Consulting Projects
WIIPSmart Our own Impact investing thought
leadership blog
Employers who made Full-Time Social Impact offers- Class of 2016 and 2017
Bellwether Education Partners Missio Partners
Bridgespan Group, The National Women's Law Center
Commonwealth of Massachusetts Overseas Private Investment Corporation (OPIC)
Draper Richards Kaplan Foundation Packard Foundation
Earth Innovation Institute Proximity Designs
Endeavor Quantified Ventures
Endeavor Catalyst Reach Capital
Federal Bureau of Investigation (FBI) Rocketship Education
Federal Reserve Bank of New York Stanford University
Foreign Ministry of Spain The Bridgespan Group
IFC Asset Management Company, LLC (AMC) U.S. Secret Service
International Finance Corporation Uncommon Schools
Ministry of Culture United States Navy
Ministry of Finance, Japan US Army
World Economic Forum
Timing of Full-Time Offers: Class of 2017*Preliminary Data as of 8/1/17
0
0.5
1
1.5
2
2.5
3
3.5
FT Salary Breakdown: Class of 2017*Preliminary Data as of 8/1/17
Social Impact
Number Accepted 5
Number Accepted (with salary
data)
5
% of Accepted .9%
Annual Salary Range $50,000-$155,000
25% Annual Salary $95,000
Median Annual Salary $100,000
75% Annual Salary $116,000
Number with Sign-On
Bonus
1
Median Sign-On Bonus $10,000
FT Salary Breakdown: Class of 2016*Finalized as of September 20, 2016
Social Impact
Number Accepted 14
% of Accepted 2.57%
Annual Salary Range $48,000-$140,000
25% Annual Salary $83,200
Median Annual Salary $95,000
75% Annual Salary $110,000
Number with Sign-On
Bonus
2
Median Sign-On Bonus $13,750
Career Switching (Full-time)
82%79%
67%
20%
40%
54% 53%
18%
56% 57%
67%
83%79%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
% FT Accepted Offers – Reported “Industry Change”
Employers who made Internship Offers in 2016 Preliminary Data as of 9/2/15
MBA Career Management
American Civil Liberties Union
Bill & Melinda Gates Foundation
BSR (Business for Social Responsibility)
Clinton Health Access Initiative
Core Innovation Capital
Edge Growth
Endeavor
Federal Reserve Bank of New York
Freedom Prep/Democracy Prep Public
Schools
Global Health Investment Fund
Impact Investment Shujog (IIX)
National Park Service
PATH (Program for Appropriate Technology in Health)
Polymath Ventures
REDF
Reinvestment Fund, The
RippleWorks
Teach for America (NYC)
The Wharton School
United States Navy
USAID
Vulcan Inc.
Employers who made Internship Offers in 2015 Preliminary Data as of 9/2/15
Development Finance Education Public Policy / Gov’t
• Acumen
• Ashoka
• Edge Growth
• IGNIA
• Imprint Capital Advisors
• Inspiring Capital
• IFC
• Polymath Ventures
• SEAF
• World Bank Group
• CHASE - Creating High
Achieving Schools of
Excellence
• Education Pioneers
• Geekie
• Pearson Affordable Learning
Fund
• Student Finance Africa
• Australian Government
• Los Alamos National
Laboratory
• The White House
• U.S. Department of the
Treasury
MBA Career Management
Non-Profit / Social Enterprise
• African Leadership Network
• Bill & Melinda Gates
Foundation
• Brookings Institution
• Center for Financial Services
Innovation
• Center for High Impact
Philanthropy
• charity: water
• Clinton Health Access
Initiative
• Dalberg Global Development
Advisors
• DonorsChoose.org
• Endeavor
• Impact Investment Shujog
(IIX)
• New Sector Alliance
• Potential Energy
• PT Ruma
• Robin Hood Foundation
• Sanergy
• Silicon Valley Social Venture
Fund
• Special Olympics
Pennsylvania
• United Nations
Career Switching (Interns)Summer 2016
94% 94%
85%
63%
46%
71%
48%
65%60%
86%
63%
80%
87%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% Intern Accepted Offers – Reported “Industry Change”
2015 Private Sector Summer Offers with Impact:% of job that is Social Impact focused
MBA Career Management
Corporation % Corporation %
Under Armour 100% Regeneron Pharmaceuticals 50%
Off.Grid:Electric 100% Sage Therapeutics 50%
Impossible Foods 100% Nexu 50%
North Shore-LIJ Health System 100% Zouk Capital 25%
Oak Street Health 100% co:collective 25%
Stanford Hospital and Clinics 100% Universal American Corp. 25%
The Children's Hospital of Philadelphia 100% Chartis Group, The 25%
Onyx Renewable Partners 75% DaVita Healthcare Partners 25%
Colorado Impact Fund 75% Emerging Capital Partners (ECP) 25%
Coca Cola Refreshments 75% CommonBond 25%
Able Lending 75% Learn Capital 25%
Bloom Energy 50% Inspire Ventures 25%
Censeo Consulting Group 50% Founders Fund 10%
Tip: Use CareerPath to research these companies and view their job posting history..
More Social Impact Stories
• Prior to Wharton: AllianceBernstein LLP, BBR Partners, Kiva Microfunds
• Internship: Potential Energy
• Post Wharton:
• International Programs Manager (SEA) at Water.org (San Francisco, CA
• Prior to Wharton: Monitor Group and Teach for America
• Internship: New Schools Venture Fund
• Post Wharton:
• Director of Regional Operations, Summit Public Schools (San Francisco, CA)
• Prior to Wharton: Monitor Group (now Deloitte Monitor) – Consulting
• Internships: 1st summer: Credit Suisse / 2nd: Omidyar Network
• Post Wharton:
• Investment Director at Global Innovation Fund (London)
• Prior to Wharton: Equity Research (BAML, Jeffries), Campaign Manager
• Internship: White House Internship Program, National Economic Council
• Post Wharton:
• Senior Policy Advisor at the White House, National Economic Council
Margarita
Salasyuk
(WG’15)
Josh
Lotstein
(WG’15)
Tat-Seng
Chiam
(WG’14)
(HKS’15)
Jaclyn Kier
(WG’15)