TOGOR Project, FISCAL Exam, Life in General

Today were the final presentations for TOGOR (Toma de Decisiones y Gobierno de las Organizaciones). Our presentation covered the executive decisions of UBS regarding a new compensation system to top executives after the Swiss bailout. We did it in English, and although we were allowed to, I was secretly worried that we should have done it in Spanish. The truth was, we could have done our presentation in Spanish, but we decided that the quality would be better in English. It was, but I secretly wondered what it would have been like to get up there and explain banking in Spanish. I knew I could do it...

The FISCAL (Fiscalidad) final came next. It was a written exam explaining what you had learned about the Spanish taxation system. When I walked into the room I felt like vomiting, because the truth was, I hardly understood anything that went on in there. It was too legalese and specific to Spain, which I knew nothing about. But I studied off some Spaniard's notes and reading some text was very helpful, so I was able to turn out a pretty good exam.

After the exam, I felt pleased with myself. Some things in my life are not going so well, which are not my problem, and not my fault, but it affects me. And as I was walking down the hill to the bus, I thought first "Man I would like to visit my friends in Colombia and dance and have some fun right now." And then secondly came my real thought: "Although I have been tired of Spain and continental Europe and speaking Spanish, sometimes it's kind of cool to interact in Spanish. I think I might like living in Madrid."

Why Madrid? Last week I had an interview with the Portuguese renewable energy company EDP Renovaveis, for a Corporate Finance position in Madrid. I started the interview in Spanish, then ended up switching to English to explain the Finance terms. I think they really liked me. I didn't much like the prospect of staying in Spain, but the company and the job seemed really nice, and after a few years, I'd like to relocate back to the States, since they have offices there. Notwithstanding, I hope I get the job.

I'm also looking at jobs in London. Why London? Because they speak English there. :) But it is still close to Europe, and I might not be ready to go home yet. And many good friends of mine will be there. After London in rank, I'd like to be in New York for the same reasons, then if all else fails, I'd pick up all my things where ever I am and move back to New Orleans. I'd probably envision myself working for Tulane, perhaps being a lecturer in Corporate Finance. Then everyday after work I'd have a drink on the porch of the infamous Column's Hotel and watch the passerby on St. Charles.

Nice life. Pero solo falta una cosa......

Head or Heart?

Sometimes I think I lived my life backwards. I used my head and logic more when I was a kid, and it took me down a path that was, albeit interesting, not one that made me happy. In this MBA I had to figure out how to use my heart for the first time. I admit, not a good place to begin to use one's heart.

Someone asked me today why I was involved with producing the school Yearbook. I said it was because I always wanted to that in high school, but ended up starting & running my own clubs instead. And it was in high school that I decided I wanted to be an Investment Banker. Nothing could stop me from this goal. I approached banks directly and asked for internships until I got one. I thought college was a waste of time. I wanted to be an Investment Banker now. And I knew I could do it. I majored in Finance & Economics and was engrossed in my subjects. I ignored that tiny part inside of me that loved Psychology and Sociology. And the fact that I had extraordinary empathy.

Well I finally became an Investment Banker. And then I realized I hated it. Well, I think it was more the stage of life I had reached by the time I became a banker. I had peaked too early and was already considering people and relationships as more important than power and money. I blame this on being a woman. After my whole life energy was dedicated to becoming a banker, I had to find something else to do. This is a significant blow to the self identity.

So up until now I had used logic to decide my career. Had I learned to listen to my heart as a kid, I would probably be in a completely different place right now, in a career more suitable for my talents. I would have been involved in yearbook and the school newspaper in high school instead of the Math Club. Maybe I'd have gone into journalism. In college I'd have majored in Psychology & Sociology instead of Finance & Economics. Maybe I'd be a Psychologist with a nice 8-6 job where I get to talk to people all day. I think the best part of the job would be seeing the same person over & over again and developing them enough to see results. But one has to be detached enough to not let that person's problems affect you. Even so, that sounds a lot more fun than excel modeling.

But despite the horrific economy, I think I'll find the right job for me soon. It will be something having to do with Client Advisory or Managing People. And it will be in a vibrant city. I just wonder what and where it will be...

Mi Propio Negocio

When I applied to IESE, I mentioned a business idea that I was passionate about. It seemed good on paper, a logical and simple idea that encompassed most of my interests. But I never really was serious about pursuing it. I admit, I just wanted a ticket to Spain, a new title behind my name, and a new life...

*****
It's kind of funny how it all started. I was at a party my first September in Spain, a housewarming party for my friend Lars, and I was talking to AA. "What do you want to do after the MBA?" he said. I replied, "I have 3 options: Start my own business (the riskiest), get into Finance in the Heathcare industry to become a hospital administrator (middle risky), or become Managing Director of the Sales & Trading side of an investment bank (least risky). [Sidenote: my, how the tables have turned...] And AA said to me, "You don't have to impress me, I'm not an interviewer. Just be prepared to change."

And in that very next September the following year in Barcelona, I met a first year MBA student to whom I asked that same question, "What do you want to do after the MBA?" And he said, "I want to start my own business." And I said, "Oh honey, that'll change. You don't have to impress me..."

*****
And so here I am.

As I went through classes at IESE, still Finance was the subject that interested me most. I reluctantly went through some Entrepreneurial subjects, but mostly they bored me to death and I never had any interest in starting a business or becoming the stereotypical "CEO/Leader." I was more of an analyst and "right hand woman" to the leader. And as several Entrepreneurial Sciences professors asked the question to the class, "Whom of you would like to start a business?" I always proudly kept my hand down.

But times have changed. The financial crisis/global recession is really starting to take effect on us MBAs, and we're having to work harder than before for scraps of jobs. There are simply none out there. The job market is getting smaller and smaller, even for professionals. Forget about Career Services. Forget about alumni networks. Forget about job recruitment sites. Most companies are on a hiring freeze.

And then lessons from Mark Albion's book "More Than Money" came to me again. I should do what I'm passionate about. So essentially I've decided to start a business. This environment is practically forcing me to take a risk I otherwise would never take. I always loved New Orleans and wanted to do something to bring back its economic status pre-Katrina, so I guess now is my chance. Part of me thinks that I am not an Entrepreneur; I'm a people person, a team player, a harmonizer. But then I heard the words from my old Entrepreneurship professor Chris Zott: "Entrepreneurs are not born; they are made."

Many successful businesses I know have started by taking on opportunity like this. But I know I'm not so much in it for the money more so than to bring back New Orleans. Which means that most of the excess profit I make from my share would go to my old University Tulane, IESE and various charities in New Orleans. Guess I'll just give it a try...