Interning in Wall Street: Excel Files with 10,000 Rows do Exist!

Intern: Bruno Cevallos

Company: J.P. Morgan Chase & Co.

Position: Finance Intern – Securitized Products Group (One Chase Manhattan Plaza NY, NY)

Interning in Wall Street is an experience like no other. In very few occasions will you ever find yourself surrounded by so many individuals committed to your same goal: Getting a job offer! Thus, after two weeks of excel and financial modeling training, multiple attempts at not getting lost in the subway and one or two extra NY hot dogs, I’m ready to share with you some important tips you should keep in mind while completing your respective internships:

·         Not everyone can help you, but everyone can hurt you – This means, please be courteous to everyone! Not only senior managers deserve your respect, but also the cleaning lady, the copy room lady and anyone else in the office. They WILL all have an opinion when it comes time to decide to extend you a job offer or not.

·         Distinguish yourself at the office – Always do something that everyone notices. This means, either be the intern that passes by every single cubicle saying “Good Morning” or the intern that always have candy at his/her desk. Always try to stand out amongst your peers in a positive manner and give people a reason to remember you.

·         Get to your office before your manager and leave after your manager does – It is extremely important for you to do this. During an internship you are not only being judged upon your abilities but also on your commitment and devotion.

·         Understand you are just temporary, everyone else around you is permanent – It is essential for an intern at a firm to understand there are multiple people at the firm that can perform the same duties you are currently performing. Thus, it is critical for you to concentrate on developing relationships with individuals (managers, analysts, HR representatives) that will advocate for you when it comes time for your firm to decide to bring you back for a full-time job.

·         You always want more work! – Never stay in your desk doing nothing if you have completed your work. Immediately after you are done, go to your manager’s office and ask him or her to revise your work. If this work is approved, immediately follow up their remarks with: “Are there any other projects or tasks I can help you with right now?” Even if the answer is no, you will go around your office and talk to your peers and inquire if they need any help themselves.

Pepsi Salesman for a Day

Intern: Jose Nunez

After a month of spending the day with salesmen and territory sales managers, it was now my turn to go out in the trade and sells Pepsi’s line of product. Little did I know what were my managers intentions when he handed me the famous handheld and showed me the list of accounts. It was then when he sent me off to a local Walgreen and asked me to merchandise the store and place an order. What was turning out to be a good day, ended with a situation that tested my customer service skills. A week before this incidence, the territory sales manager and I sold to a chevron and placed orders to be delivered. After a week of this order, I was sent to the Chevron again to place another order but this time with the store manager. After enthusiastically presenting myself, I was told to they were not going to order until “we got our stuff straight”. To add to the problem, he called my manager and said I did not introduce myself. This was when my manager explained I was an intern and inexperienced within the organization. One thing I learned from this experience is that the customer is ALWAYS right. According to my manager, the Chevron manager was angered due the previous orders we had place and its inaccuracy. Little did he know that the person who took that order was actually his son. Although I knew I was right, I had to listen to the manager and apologize for the inaccurate orders. This prevented the situation from escalating into further discussions and potentially losing the account. Below are some tips for when dealing with customers:

1. Remember there is no way that the quality of customer service can exceed the quality of the people who provide it. Think you can get by paying the lowest wage, giving the fewest of benefits, doing the least training for your employees? It will show.Companies don't help customers... people do.
2. Realize that your people will treat your customer the way they are treated. Employees take their cue from management. Do you greet your employees enthusiastically each day; are you polite in your dealings with them; do you try to accommodate their requests; do you listen to them when they speak? Consistent rude customer service is a reflection not as much on the employee as on management.
3. Do you know who your customers are? If a regular customer came in to your facility, would you recognize them? Could you call them by name? All of us like to feel important; calling someone by name is a simple way to do it and lets them know you value them as customers.
Recently I signed on with a new fitness center. I had been a member of another one for the past ten years, renewing my membership every six months when the notice arrived. I had been thinking about changing, joining the one nearer my home and with more state-of-the-art equipment. So when the renewal notice came, I didn’t renew. That was eight months ago. Was I contacted by the fitness center and asked why I did not renew? Did anyone telephone me to find out why an established customer was no longer a member or to tell me they missed me? No and No. My guess is they don’t even know they lost a long-time customer, and apparently wouldn’t care.
4. Do your customers know who you are? If they see you, would they recognize you? Could they call you by name? A visible management is an asset. At the Piccadilly Cafeteria chain, the pictures of the manager and the assistant manager are posted on a wall at the food selection line and it is a policy that the manager’s office is placed only a few feet from the cashier's stand at the end of that line, in full view of the customers, and with the door kept open. The manager is easily accessible and there is no doubt about "who's in charge here". You have only to beckon to get a manager at your table to talk with you.
5. For good customer service, go the extra mile. Include a thank-you note in a customer's package; send a birthday card; clip the article when you see their name or photo in print; write a congratulatory note when they get a promotion. There are all sorts of ways for you to keep in touch with your customers and bring them closer to you.
6. Are your customers greeted when they walk in the door or at least within 30-40 seconds upon entering? Is it possible they could come in, look around, and go out without ever having their presence acknowledged? It is ironic it took a discount merchant known for price, not service, to teach the retail world the importance of greeting customers at the door. Could it be that’s because Sam Walton knew this simple but important gesture is a matter of respect, of saying "we appreciate your coming in," having nothing to do with the price of merchandise?
7. Give customers the benefit of the doubt. Proving to him why he’s wrong and you’re right isn’t worth losing a customer over. You will never win an argument with a customer, and you should never, ever put a customer in that position.
8. If a customer makes a request for something special, do everything you can to say yes. The fact that a customer cared enough to ask is all you need to know in trying to accommodate her. It may be an exception from your customer service policy, but (if it isn’t illegal) try to do it. Remember you are just making one exception for one customer, not making new policy. Mr. Marshall Field was right-on in his famous statement: "Give the lady what she wants."
9. Are your customer service associates properly trained in how to handle a customer complaint or an irate person? Give them guidelines for what to say and do in every conceivable case. People on the frontline of a situation play the most critical role in your customer’s experience. Make sure they know what to do and say to make that customer’s experience a positive, pleasant one.
10. Want to know what your customers think of your company? Ask them! Compose a "How're We Doing?" card and leave it at the exit or register stand, or include it in their next statement. Keep it short and simple. Ask things like: what it is they like; what they don’t like; what they would change; what you could do better; about their latest experience there, etc. To ensure the customer sends it in, have it pre-stamped. And if the customer has given their name and address, be sure to acknowledge receipt of the card.
Remember that the big money isn’t as much in winning customers as in keeping customers. Each individual customer’s perception of your company will determine how well you do this and that perception will depend on the level of customer service you provide.

Baby Boomers Era in Pepsi Beverages Company (Doral)

Intern: Jose Nunez

Three weeks into my internship with Pepsi, I began to learn more about its employee and their history in Pepsi. Through a route ride with one of my managers, I noticed that Pepsi Beverages Company at Doral can familiarize itself with the baby boomers era. The baby boomers was a period in the early fifty’s marked by a greatly increased birth rate.  Studies done by economist show that there will be a moment where Baby Boomers will start retiring around the same time and therefore affect the retirement funds received by retirees. Similar to the baby boomers era, the majority of Doral Pepsi’s employees began their career at around the same period.

 

As I look at my job description when I applied for the position, I now understand why Pepsi wrote “We are looking for future managers and leaders of the company”. By training talented students, Pepsi has ample time to mold them into their culture. Furthermore, it will have its trainees ready by the time the experienced employees are ready to retire. This strategy by Pepsi will allow the company to continue on with its steady growth and perform at its full abilities.

Internship at FPL

 Intern: Saad Munaf

 

While working on your college degree, internship can be an important
part of that journey. Internship is mostly a semester long, where you
work for a company and gain experience. I got an internship at Nextera energy/ FPL as a Business Management
Intern. I am assigned to work with the AMI(Advanced Metering Infrastructure) team, which is the latest
meter reader technology for houses, small business etc.

Day 1

I left my house at around 7, and thought that I would reach the office
easily since I had a GPS. Unfortunately, my GPS took me to a residence
community (I was pretty sure I wasn't going to work at a home office).
So I called up my manager, Mr Tony and he told me that I wasn't far away from
the place, but atleast 3 miles away. When I got to the office, my
manager told me that for some reason, the office does not show up on
google maps, GPS.

The rest of the day, I completed an online tour of the company,
completing my direct deposit and all that good stuff, then my manager
explained me the AMI technology, gave me an overview of the company,
told me about some assignments he had in mind for me, and sent me to
the General Office in Miami to take a picture for my employee ID. My
manager also told me that I am going to receive a laptop to do all my
work (Fortune 500 perks).

Day 2

Today, I found out that I am going to be working with the deployment team.
As me and my supervisor were having a conversation about the AMI, he
told me that one of the reasons I was selected as an intern, was
because during my interview I was prepared and did research on the AMI
technology (so guys make sure you do your research when you are going
for an interview). Also my manager told me that I will go check out
what happens on the field (how the technicians install the AMI meters) this Thursday or Friday, so I'm looking
forward to that.

Week 2: A Closer Look at Pepsi’s Product Positioning Strategies

As consumers, we are exposed to thousands of products every time we walk into a store. Companies’ oftently stress on placing their products in a position that will increase the consumer’s awareness. This week, at Pepsi Beverages Company, I learned of their product positioning strategies in both large format and small format stores. 

The product positioning basics at PBC start with what is called core 6. Core 6 is part of a planogram Pepsi has created for their employees when positioning products at the store. This planogram requires products to be positioned in the following order: Pepsi, Pepsi Max, Diet Pepsi, Sierra Mist, Mountain Dew, and Dr. Pepper. Any other products such as Crush will follow and is included in what is known as the core 6 + 1. According to one of the Salesmen, Pepsi has developed this plan due to recent studies. Research shows consumers are more likely to look at products the way the read (left to right). Coca-Cola being Pepsi’s biggest competitor, they stress on placing Pepsi and its related products (Max and Diet) farther to the left.

Product Positioning is more than just inside the cold vaults. Pepsi Beverages Company has an array of strategies used while positioning their products: 

Point of Purchase/Sale: Advertising placed near the product location in a store. Can be either inside or outside, illuminated or non-illuminated.

Boom Sign: Sign, illuminated or non-illuminated, hung from a boom over the front of a beverage account, often with part of the sign giving the account’s name. 

Bubble Front Vendor: Design of the vendor sign front that is curved in appearance opposed to the traditional flat front machine. 

Cold Vault: Area in refrigerated equipment designed for soft drinks accessible to the consumer.

Take-Home Products: Product sold warm and generally purchased for at home or future consumption.

End Cap: Secondary display of product at the end of an aisle in a store.

FIFO- Products to expire first are placed on top of the display or closer to the left

Next time you walk into a store or retailer, take a look at how Pepsi is positioned and compare to other stores you have visited. You will notice, that unless the store has its own planogram, the position of these products will be the same.

My First Week at PBC!

Intern: Jose Nunez

Everyone dreams of receiving that email or phone call extending an offer to participate in an internship. My dream became a reality a couple months ago when Pepsi Beverages Company invited me to their Sales Development Program for this upcoming summer. It’s been already a week since the start of the internship. Read below and learn what you may experience the first week of your internship.

Day 1:

Nervous but excited at the same time, I woke up on Tuesday May 22, 2011 and suited up for one of the biggest days of my life. As I entered the office, I was taken to a room where I was asked to sign various documents and watch videos on company policies. Throughout the videos various employees walked in and welcomed us to the Pepsi family. Along with me was a new hire which was to start in Human Resources. Following the videos, we were taken around the facility where we were introduced to Pepsi executives and employees. I feared this moment as several of my friends mentioned that the first day of an internship, I would most likely get ignored. This was not the case as I was enthusiastically greeted by many of the employees. Many seemed to be interested in my career paths as they asked about my major, school, and interest. To end the tour, I had to the opportunity to meet with the sales manager (my boss), Mr. Jorge Rojas. He then explained to me some of my responsibilities and what I should expect this upcoming summer. To culminate the day, I went to the HR office where I took my picture and turned in all my paper work.

Day 2:

As I applied for the position, many informed me about the work schedule and it’s early working hours. I was able to experience this right off the bat in my second day of work as I was asked to arrive at 5:30 a.m. As early as it may sound, many of the Pepsi employees were already on site for a long day of work. My day of work was however, the longest one I would experience the whole summer. Following a short meeting I had with my boss, I was introduced to Mr. Hiep White, one of the sales representatives for the company. Sarcastically he said, “You have picked the perfect day to start working, we are getting audited tomorrow”. Additionally he explained to me about the “Best of the Best” competitions they had yearly amongst the sales representative. The Best of the Best is an annual event where the accounts of different sales representative get ranked. The winner receives an all-expense paid vacation for two. Motivated by this competition, the sales representative and I headed out to his accounts to make sure everything was all set for the big day. At the end of the day (9:00 p.m.) we visited and polished over 15 accounts.

Day 3:

Following a long day of work, I was back at the plant at 5:30 a.m. to be part of the biggest day of the year for Pepsi or what they consider their Super Bowl, “The Best of the Best” competition. At this event, I was able to meet some of the higher ranked employees such as the Vice President of Regional Sales, Mrs. Paula Hopkins. Not to mention, I was able to network with Pepsi executives from the different plants in Florida. Following the competition, I was once again assigned to a sales representative and taken on the trade to see the different accounts. Throughout the day, I was able to learn different strategies on product positioning and selling techniques used when dealing with store managers. 

Day 4:

After spending two days with salesman, I was placed with a Pepsi driver so I could get a feel of the different departments of the organization. Throughout the day we visited over 15 stores and distributed merchandise to the different accounts.  I also was able to learn the computerized system used by salesman when checking inventory. Through this handheld, I learned Pepsi uses FIFO as they stack the oldest merchandise on top.