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: mbacareers@wharton.upenn.edu

Jennifer Savoie, Career Advisor

savoiej@Wharton.upenn.edu

Hanne Berg, Recruiting Relationship Manager

hanneb@wharton.upenn.edu

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 wiip_info@wharton.upenn.edu

• 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)