Poorvi Srivastava: Finance, Interviews

Thanks to everyone who responded to the email sent out yesterday about how these newsletters should be formatted.

These newsletters will be sent out every weekday morning with an interview and a selection of news articles with a weekly focus on a female economist each Friday!

Hope this new format makes Girl Economics even more useful - enjoy the issue!

Erin McGurk

An Interview with Poorvi Srivastava

Hi, I’m Poorvi, a first year student studying Maths with Finance and Accounting at QMUL. I really enjoy listening to AmplifyME’s Market Maker podcast and would recommend that everybody gives it a listen to help stay commercially aware! I’m eager to work in the finance industry and am looking forward to gaining some relevant work experience this summer through the Future Thought Leaders’ programme at the Institute of Economic Affairs. A quote that I remind myself of and would encourage others to remember when something may seem daunting is "You miss 100% of the shots you don't take." - Wayne Gretzky

Poorvi is a first year student who is an Ambassador of the Banking and Finance society and an Analyst for the Economics society at her university. I met Poorvi earlier this year at an event in London, and she gave me such brilliant advice from her experiences which I thought many readers, particularly those in Y12 and Y13, could greatly benefit from!

You are studying a degree in Maths with Finance and Accountancy, tell us more about why you decided to study Finance?

I knew I wanted to study economics at university. As I missed my LSE Economics offer, I looked at the Maths with Finance and Accounting course at QMUL which resonated so much with what I was wanting to study. I am happy I did as it is an extremely interesting course that enhances my skill set. I’m interested in how interconnected the financial sector is with current affairs. I think finance is so dynamic and allows you to work with a different range of individuals from many backgrounds. I am enjoying understanding the more mathematical underpinnings of economics and more real world application of mathematics.

I do think that the terms ‘finance’ and ‘economics’ can often be used interchangeably but if you’re interested in the difference between the two disciplines, this explainer from Investopedia is worth a read; https://www.investopedia.com/articles/economics/11/difference-between-finance-and-economics.asp

What do you think is the difference between studying a more applied degree in a subject such as finance and studying a more theoretical subject such as economics?

After talking to people at university, particularly those who have taken on internships, it seems that many people do wish that they’d taken a more quantitative degree like finance or accountancy because of the amount of detail taught in these courses such as balance sheets and cash flow statements. Economics is more the theoretical side which I think is very interesting but I do also think I’ve benefited from the analytical skills that you gain from the practical side of a course in something like accountancy.

To add to what Poorvi said, if you do prefer the academics of a theoretical subject, there are some brilliant online resources that can help you with the more quantitative side of things;

Intro to Accountancy by the Open University

Financial Markets MOOC by Yale

You’ve done lots of different interview processes this year - what are your tips for in-person interviews?

  1. You want to show that you are enthusiastic and genuinely passionate about the industry

  2. You need a degree of commercial awareness: it doesn’t take long to read up on a company and stay on top of current affairs in the industry

  3. You should also show that you are proactive in terms of getting work experience and getting involved in clubs or events that give you an insight into the industry

  4. Don’t be afraid to reach out to people working at the companies you are applying to and talk to them about the culture to see if it would be the right fit for you

  5. If you’re talking about the company BE SPECIFIC. Don’t just say “oh I love xyz’s environmental policy” but talk about specific events or programs that the company puts on or specific aspects of the corporate structure which interest you. Finding things which are very unique to the company can show your passion.

  6. Make sure you can answer questions about things you have mentioned on your CV, and don’t be afraid to put forward your own perspectives

 

Has being part of the university’s finance society helped you?

Because I wasn’t doing the course that I was initially going to do, I tried really hard to join as many academic societies as possible that interested me. I tried to be proactive in terms of getting onto the committees of societies. Initially I was an ambassador which involves going to events at different universities across the country. Next year I am actually going to be Co-President of the Banking and Finance Society and I campaigned on a platform of increasing opportunities for horizontal networking, making sure that engagement stays consistent throughout the year, and creating more opportunities for collaborative events with more London Universities.

They have helped so much with the interview process and giving me opportunities to meet lots of interesting people who share similar ambitions.

How do you balance society involvement and other commitments with doing a degree?

Time management strategies are something you really need to get familiar with at university. Make sure that you prioritise. I use the Eisenhower matrix where you prioritise things by urgency and importance which has helped me to stick to deadlines and stay on top of both my work and social life.

I’d never heard of the Eisenhower Matrix before speaking to Poorvi but I’ve come to realise that it is actually incredibly useful! In fact, I’ve been prioritising my A Level revision using it 🙂 

Since I met you at a networking event, what are your tips for networking?

I would say that you need to focus in equal parts on two different types of networking: vertical networking and horizontal networking.

Obviously it is important to talk to people who are working in your desired industry and learn from their experiences and advice. But, one thing that I would really recommend is to make time for people who are currently at the same level as you. Talking to your peers allows you to share opportunities, talk about current affairs, and talk about your experiences trying to break into different careers. I think lots of people brush over the importance of networking with people who are your own age.

You will also never know what happens when you try reaching out to people! The worst case scenario really is not that scary!

According to Apollo Technical, 80% of professionals find networking essential to their career success. So, that makes it quite important! But, networking is one of those words that can make people a bit scared - this is especially true if you’ve never been to a networking event before.

The biggest tip that has helped me really is exactly that Poorvi said: the worst case scenario is really not that bad. The worst thing that is going to happen to you if you reach out to someone is simply that they say ‘No’.

Do you have anyone who is a particular inspiration to you?

Indra Nooyi, ex-CEO of Pepsi was one of the first women of colour to run a FTSE-50 company. Her success at the company in terms of both massively increasing profits and focusing on ESG objectives is hugely inspiring. She has really taught me that it is not about where you come from, it is about what you do with what you have and how hard you work.

Another inspiration is my dad. He founded his own startup and is such a hardworking man! He also came from a small town and really built up his name and his company. He is so passionate about what he does and I hope that I can find my passion in finance and work as hard as he does!

Indra Nooyi is a very inspiring woman with a fortune of $350million (largely in Pepsi stock) to match!

I'm very fortunate to have a wonderful husband, two great kids, a very tight-knit family, an awesome job with a great team. But to get here and to stay here, lots of tradeoffs, lots of sacrifices under the water, a lot of collateral damage.” - Indra Nooyi

I loved speaking to Poorvi for Girl Economics, and I think that it is so useful to, just as Poorvi mentioned, learn from people who are at a similar stage in their lives! I hope her tips prove helpful :)

News

The Headlines

The Securities and Exchange Commission has issued a warning to Robinhood regarding potential legal action over its cryptocurrency business, amid growing regulatory scrutiny and enforcement efforts targeting digital assets.

The National Farmers Union warns the government against overreliance on imports for food security, as UK farmers face record-low business confidence due to challenges like declining crop yields, high input costs, and the transition to a new subsidy scheme, amid concerns over the impact of government policies ahead of the upcoming general election.

Top Western banks in Russia, despite pledges to reduce exposure after the Ukrainian invasion, reported a combined profit of over €3 billion in 2023, with taxes paid by European banks totaling about €800 million, contributing to Russia's financial stability amid sanctions, while facing criticism for delays in withdrawing from the country, highlighting complex economic dynamics amidst geopolitical tensions.

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Thanks for reading! See you in the next issue - Erin McGurk

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