Introduction For students and recent graduates, summer schools offer a unique opportunity to get acquainted with top companies in the Netherlands and to deepen their knowledge in their field. In the sectors of accountancy, finance, and economics, various companies organize exclusive summer schools and similar programs each year. These initiatives are not only aimed at transferring knowledge but also at attracting young talent. In this article, we discuss the opportunities that summer schools offer, their benefits, and why some companies choose not to organize them. Many companies offer summer schools as part of their talent development programs. During these programs, participants work on real-life cases, attend trainings, and gain a clear picture of what it’s like to work at the company. In addition to gaining professional knowledge, students also get familiar with the company culture and the career opportunities within the organization. Summer Programs in Accountancy and Finance In the accountancy and finance sectors, several companies offer summer programs where students can gain practical experience and get a feel for the work environment. Often, participants work within a team for a short period and receive guidance from experienced professionals. Additionally, companies regularly offer training sessions and workshops to help develop both technical and personal skills. These programs are typically available at multiple office locations and are often concluded with a networking event. Besides professional content and mentorship, participants often receive financial compensation and access to resources such as a laptop or career coach. Applications for these programs usually take place in the spring. Deadlines vary by company but generally fall between March and May. The programs themselves typically take place in July or August. Why Choose a Summer School at a Company? Participating in a company-organized summer school offers several advantages: Practical Experience: Participants get the chance to work on real business cases and gain hands-on experience. Networking Opportunities: Summer schools provide direct access to professionals and recruiters, which can be valuable for future career prospects. Personal and Professional Growth: Through intensive training sessions and workshops, students develop both soft skills and technical expertise. Career Launchpad: Many companies use summer schools as a way to scout talent early and recruit potential employees for traineeships or entry-level positions. Why Don’t Some Companies Organize Summer Schools? While some companies see summer schools as a strategic investment, others choose not to organize them. Common reasons include: Staff Availability: Summer is often a vacation period, making it difficult to organize a high-quality program. Internal Workload: Many companies are occupied with internal processes and preparations for upcoming projects during this period, leaving less time to mentor students. Distorted View of the Work Environment: Some companies feel that a summer school does not give a realistic picture of the job, as the summer dynamic differs from the rest of the year. Who Organizes These? Many companies offer summer schools. For example, PwC offers such programs. Universities like Eindhoven University of Technology, Utrecht University, and HEC also offer summer schools. The Summer Schools in Europe website provides more information about summer programs across Europe. Conclusion If you’re considering joining a summer school, it’s wise to research available programs early. Some companies offer valuable learning and networking opportunities, while others may choose alternative forms of talent development. Visit company websites for the most up-to-date information and application opportunities, or contact their recruiters. A summer school can be an investment in your future and a great way to kickstart your career.
Join us at the Accounting Expedition (Committee)
The Accounting Expedition: A two day event during which students will visit four different accounting firms in the Netherlands
Behind the Finance expedition 2024
In this week’s article, Yunjie Chen shares her experiences as a committee member of the Finance Expedition 2024 and what this expedition is all about. The idea behind this expedition is to introduce students to the world of finance in a unique and interactive way, while also providing companies with a platform to discover young talent. Finance Expedition in Brief The Finance Expedition is organized by Asset Financials and Asset Econometrics and is specifically designed for students interested in Corporate Finance, Asset Management, and Risk Management. This three-day expedition, including overnight stays, offers challenging business cases, personal stories from professionals, and valuable networking opportunities that can open new doors. Program Development In February 2024, we began preparations for the 2024 edition as a committee. After hours of brainstorming sessions, weekly meetings, and a team-building activity, we finalized the program. Everyone within the committee had their own tasks and carried them out diligently. After the summer, everything accelerated, and registrations started pouring in. Internally, we were busy processing both administrative and promotional tasks. We held college talks, promoted the event online, and personally approached students with details about the expedition. Besides promotion, we also had to arrange transportation and accommodations. Logistically, we chose the Van der Valk Hotel in Breukelen for overnight stays. The Big Days: Success and Satisfaction Day 1: Rotterdam – Nerisa On the first day, we left Tilburg early and headed to Rotterdam, where we were warmly welcomed by investment company Nerisa. We received an extensive presentation about the company and its focus areas. Following that, the students worked on a challenging equity research case, which they later presented to Nerisa professionals. The day ended with a lunch where students could ask questions and network. Day 2: Utrecht – BDO The second day featured an in-house day at BDO in Utrecht. In addition to audit services, BDO has an M&A department, which was the focus of the day. Upon arrival, we were greeted warmly and started the day with a presentation about the Corporate Finance and Transaction Services departments. After the presentation, we worked on a financial due diligence case, with the results being discussed in detail. The day concluded with a group lunch, where students once again had the opportunity to ask questions. Day 3: Amsterdam and Utrecht – Deloitte & Zanders The third and final day focused on Risk Management. In the morning, we traveled to Amsterdam’s Zuidas district to visit Deloitte. We received an extensive presentation, followed by a challenging case on The Ocean Cleanup. Each group presented their findings at the end. After a group lunch and a tour of the departments, we headed to Utrecht for an in-house day at Zanders. Zanders, a consultancy specializing in treasury and risk management, welcomed us with an introductory presentation. The group was then split into two: one group worked on a case, while the other participated in a Zanders escape room. After the swap, the day ended with a group dinner, where students had the opportunity to engage in in-depth conversations with Zanders professionals. This marked the end of the Finance Expedition 2024. Challenges Along the Way During the organization of the Finance Expedition 2024, planning proved to be a significant challenge. Scheduling meetings with seven committee members is not easy, as everyone has a busy agenda. One tip that helped me was to schedule the next meeting at the end of each session using a tool like When2meet or LettuceMeet. This saves a lot of communication afterward. Additionally, flexibility is crucial: physical meetings are important for comprehensive agenda points, but shorter meetings are often more efficient online. What I Learned Organizing the Finance Expedition taught me valuable skills, such as planning, teamwork, networking, and communication. Additionally, it gave me more insight into my own ambitions within the finance world. It was very fulfilling to organize an event that helps others advance in their careers. I look back on this experience with pride and am confident that the Finance Expedition 2024 left a lasting impression – both on the students and the participating companies. Why Joining a Committee Is Worth It If you get the chance to join a committee, seize it with both hands. It’s an experience that will help you grow both personally and professionally. Organizing this event gave me insights not only into the financial world but also into my own skills and ambitions. My Experience with Asset Financials I have been a member of Asset Financials since February 2023. In addition to organizing the finance expedition, I have also been part of the financial business dinner 2023 committee which was a valuable experience as well. I appreciate how Asset Financials bridges the gap between students and companies and fully commits to this goal. The study association offers both formal and informal activities where you get the chance to meet new people! I highly recommend getting to know the association by signing up for a few events. It’s a valuable experience you don’t want to miss!
Working at EY – From Lecture Hall to Office: Renate Shares Her EY Journey from Student to Employee
Renate de Vries recently took a significant new step in her career at EY, joining as a Staff Auditor. However, her connection with the organization goes back further. With great enthusiasm, she shares her story of transitioning from a student to a professional career at EY. From her initial exposure to the field of accounting to her current position, Renate describes the challenges and opportunities she has encountered along the way. She highlights the importance of practical experience, finding a balance between work and studies, and the supportive role that EY has played in this journey. Additionally, Renate is actively involved in various company activities, including organizing the ski trip and assisting with several recruitment events. Can you tell us a bit more about yourself and how your EY adventure began? I’m Renate de Vries, 24 years old, born in Hoek van Holland. After high school, I moved to Tilburg to study Business Economics at Tilburg University. My journey with EY began in the third year of my studies when I got the chance to start an internship. My year as Secretary at Asset | Accounting & Finance had already introduced me to various sectors and companies in the financial world. Ultimately, I decided that accountancy appealed to me the most, so I started at EY in Eindhoven. I enjoyed it so much that, now more than two years later, I’m still here, and last September I started as a Staff Auditor. How was it applying theories from the classroom directly to your internship, and what did it teach you? When I started my internship, it felt as if the theories I’d learned in class weren’t directly applicable to real life. Everything was new and somewhat overwhelming. But as the weeks went by, I started to see connections. The puzzle pieces began to fall into place, and even subjects that I initially thought unrelated to accountancy turned out to be unexpectedly useful. During my internship, I also took two courses from the Accountancy minor, which provided a direct link to my daily work. This experience sped up my learning process and made my time in lectures all the more valuable. Balancing studies and work is a challenge. How did you manage that, and was EY flexible with your study schedule? Combining studies and work was a challenge that I was eager to take on. I had classes on Tuesdays and Fridays, and I worked on Mondays, Wednesdays, and Thursdays. At first, this was quite an adjustment, and I had to improve my planning skills. Luckily, I received help from my Buddy at EY, and you learn quickly through trial and error. EY also offered a lot of flexibility. If I couldn’t work on a certain day due to my studies, it wasn’t an issue. I could rearrange my hours or take a day off. EY was very supportive, making it much easier to combine my studies with my internship. What advice would you give students considering a post-master RA program after graduation? If you’re considering the RA program, make sure to gain practical experience in the audit department first, for instance, through an internship or a working student position. This program requires a serious commitment and discipline. Also, it’s important to check if you have any prerequisite courses to complete. Sometimes, you can finish these during your master’s, which saves time and stress later on. Finally, don’t be intimidated by the program. Everything you learn in it is highly valuable in practice. Although it’s sometimes demanding, I also enjoy Fridays when we have study sessions. It’s refreshing to return to university after four days of work and listen to lectures again. We wrap up Friday afternoons by celebrating the weekend together at Esplanade, which always gives me a boost. What helped you transition from student to Staff Auditor? The induction process at EY was incredibly valuable for me. In the first two weeks, you get to know all the new starters, the organization, and what’s expected of you. During the day, we had many training sessions, which felt similar to classes, and there were fun activities planned as well. For example, we did an escape room and had a beach BBQ. In the evenings, there was always an activity like a pub quiz or theme night. This made the transition from student life to a full-time job feel much smoother. After the induction, you start working. I received a lot of support from my teams, coach, and mentor. You also still have a lot of training at first, so some workweeks are only three days, which eased my transition to Staff Auditor. You are also part of a “year group”—the cohort with whom you start in September. This group provides a valuable support network, as everyone faces similar challenges while adjusting to a new job and study program. We still get together for social activities, like going to a terrace on Thursdays or attending office gatherings. You had multiple career options. Why did you specifically choose EY, and what set EY apart for you? During my board year with Asset | Accounting & Finance, I’d already been introduced to different accounting firms. I weighed the pros and cons of a smaller firm and the Big Four. I ultimately decided to start at a larger firm and see where things went from there. I joined Asset’s accounting expedition, where you visit Deloitte, KPMG, PwC, and EY in two days. EY just felt right to me. After my internship, I had the option to apply elsewhere or do another internship, but I chose to stay. I felt good about it, loved the office and colleagues, and thought, “If it feels right, why look further?” This, of course, varies for everyone, but it worked for me. “The fit with EY felt right from the start, so why look further? When you feel at home and see opportunities for growth, it’s a sign you’ve made the right choice.” Looking ahead, where do you
A board year as Vice-Chairman & External Affairs at Asset | Accounting & Finance
Charlotte van der Veeke Who am I? I am Charlotte van der Veeke, 20 years old, and from Almelo, which is definitely not close to Tilburg. Nevertheless, I came to North Brabant to study, and I haven’t regretted it for a moment since. I officially started my third year of the bachelor’s in Business Administration (previously Business Economics) this September, but since I began my board year last winter, I’ll continue with the courses from the second semester of the second year soon. A year ago, I joined Asset | Accounting & Finance and became part of the Orientation Committee. I enjoyed it so much that after half a year, I decided to join the board. Why did I choose a board year at Asset | Accounting & Finance? I chose a board year because I wanted to develop myself both personally and organizationally. I enjoy connecting with companies in such a unique way, learning how to hold meetings, functioning in a close-knit group, while still having the social and informal atmosphere of students around you. It’s also a welcome break from studying, and it feels good to dedicate myself fully to the association. I chose the position of vice-chair because I love interacting with members and want to serve them. I enjoy providing new members with information and making them feel involved in the association. I’m also good at remembering names, which helps! Additionally, I’m responsible for the website, and I love making it as functional and appealing as possible. Another big task for the vice-chair is promotion, which didn’t initially appeal to me, but I’ve found I enjoy brainstorming and helping figure out how to reach as many students as possible. What does a week as Vice-Chairman look like? As vice-chair, I mostly focus on member contact and promoting the association. Every Monday morning starts with the board meeting, where we discuss everything important. Usually, I don’t have many set tasks on Mondays, so after the meeting, I can focus on preparing for other meetings and tasks throughout the week. Every Wednesday, I attend the meeting of the website coordinators from other departments, followed by a meeting with all the other vice-chairs. In the first meeting, we discuss technical matters that need alignment or new digital developments relevant to our associations. In the second meeting, we organize promotion for Asset General and the parties we host. The vice-chairs are responsible for organizing major events like COdE, the Pre-Carnival Party, and Asset Champions League. This is a fun extra challenge, and it’s a great way to learn event management. The vice-chair also oversees informal committees: CityTrip, Cooking Club, and the Master Committee. The CityTrip always takes place in the second semester and goes to a city in Europe. As a coordinator, it’s amazing to help organize this entire trip. The Cooking Club is a relatively calm committee, where you cook for different committees about three times per semester to strengthen bonds between members. It’s always fun and a great addition to the role. The Master Committee organizes informal activities for Master’s students, which is different from the other two and provides a nice variety. Final words I recommend a board year to any student. So far, I’ve made countless beautiful memories that wouldn’t have been the same without this experience. I’ve also made many new friends, for which I’m very grateful. I’ve grown immensely, and I now feel more confident and capable of handling various situations. For example, you learn how to work well with people you may not naturally get along with, which is a valuable skill for later in professional life. I’m thankful I’ve had the chance to fulfill this role and will always look back on this year with a big smile. Sven Joosen Who am I? My name is Sven Joosen, and I am 24 years old. I’m originally from the beautiful town of Made in North Brabant (though you can’t really tell from my accent). Until recently, I didn’t live in Tilburg, and after COVID, I thought about becoming active in a student association again. Eventually, through various connections, I ended up at A&F, and I haven’t left since—and I plan to stay for a while longer. After six months, I joined the Activities Committee and then the board, which was the best decision of my life! Why did I choose a board year? I don’t enjoy studying, and I’ve never really found it fun, though I’ve always done my best. During my very theoretical master’s in Finance, I ran into two problems. I loved the subject itself, but I didn’t enjoy the studying part, and I didn’t know which career path to pursue—Investment Banking, M&A, Due Diligence—I was really unsure. Then I got a message from Stijn, the former chair, asking if I wanted to grab a coffee, and that’s when things started to fall into place. It turned out to be the perfect opportunity for me because in the role I would take on, I would get in touch with nearly all the finance partners and focus on finance-related events. After considering my parents’ well-thought-out opinions, I realized this was a golden opportunity that I needed to grab with both hands. Plus, it would allow me to improve my management, acquisition, and communication skills. What does your role involve? I’m one of three External Affairs officers at A&F and Economics. However, my responsibilities, apart from the basics, differ quite a bit from those of the summer External Affairs officers at A&F and those at Economics. My role heavily focuses on finance. I organize Private Equity Day and also coordinate the Financial Business Dinner, the Finance Expedition, and the Mergers, Acquisitions, and Private Equity committees. I’m also setting up a new event, the Control Dinner, which is derived from the Financial Business Dinner but focuses on control. At Asset | Tilburg, I’m also part of a body called the Acquisition Meeting, where all the External Affairs officers meet to discuss which partners
Financial tips for the start of the academic year
The start of the academic year is an excellent time to get your finances back in order. In this article we discuss some tips to strengthen your financial basis, this is done through the following topics: Budgeting Saving Investing Book tips Podcast tips Budgeting The easiest way to saving is spending less money. This is difficult for many students and this is of course understandable. But without realizing it, you spend a lot of money on things that are not really necessary. A handy way to do something about this is to use budget software. This allows you to see exactly what you spend a lot of money on and which subscriptions you pay for that you don’t actually need. Banks such as ING and ABN AMRO offer this software through their app, but other free apps include: Dyme iBilly MijnGeldzaken Huishoudboekje Saving Most students will not have much money left over, but it is useful to try to set aside some money every month. For example, to use for large purchases, such as a phone or laptop. Or to make sure you have enough money to go on vacation. Additionally, putting some money aside every month ensures that you get into the habit of saving—a habit you will thank yourself for later. Nowadays, interest rates are higher again, which means you earn more money on the amount in your savings account. A disadvantage of this higher interest rate is, of course, that the interest on your student loan is also higher… But if we focus on the interest, we see that for the major banks (ING, ABN AMRO, and Rabobank), it is around 1.5%. This is already a lot more than you received a few years ago, but at other institutions, you can get a much higher interest rate. For example, at Bunq, a Dutch internet bank, it is 3.36%. You can also place your savings with an investment company. At these companies, you currently receive the highest interest rates. For example, TradeRepublic offers 3.75%, and Trading212 even offers 4.2%. If you decide to place your savings in an account with an investment company like TradeRepublic or Trading212, it is, of course, important to know about the safety of your savings. A high interest rate is of little use if you lose all your savings in the event of a bankruptcy. Fortunately, this is well regulated. For instance, TradeRepublic is covered by the German deposit guarantee scheme. This scheme guarantees that your savings up to €100,000 are safe in case of a bankruptcy. So, if something happens, you will get your savings back up to €100,000. With Trading212, it’s a slightly different story: here, your savings are protected up to €20,000 by the Cypriot Investors Compensation Fund. This is because you are not really saving with Trading212, but placing your money in a money market fund (MMF). Check the following website for current interest rates: https://www.actuelerentestanden.nl/sparen/hoogste-spaarrente.asp Investing Once you have saved some money, it is wise to start investing with a small amount. Even if you can only spare a small sum, it is good to develop this habit. When it comes to investing, the earlier you start, the greater the returns you can achieve in the future. Most of the returns in your investment portfolio are generated from the money you invest in the first few years. This effect is well illustrated in the following video by Visual Capitalist: The Benefits of Investing Early in Life. But why should you invest? Simply put, investing allows you to invest in companies that then share the profits they earn with you. Suppose you own a 1% share in a company, and that company earns 100 euros. Then 1 euro of that profit is essentially yours. Of course, investing comes with risks because investments can fluctuate significantly, and if you invest in just one company, there is a higher risk of losing your money. A good way to mitigate this risk is to invest in a diversified ETF (Exchange Traded Fund). A good example of this is the MSCI World ETF. This is a basket of stocks that invests in many different countries and sectors. For example, this ETF invests in Apple but also in Heineken and ASML. To start investing, you can look at the following Dutch brokers: Bux DeGiro TradeRepublic Trading212 eToro Make sure to do a lot of your own research before you start investing. At some brokers, it is even possible to start with fictional money. Book tips A tip is also to read books on these subjects, so you not only start thinking more about the ideas and concepts but also gain access to in-depth explanations and practical examples that help you better understand and apply the material in your own life. Examples of such books are: Rich Dad Poor Dad (Robert Kiyosaki) I Will Teach You To Be Rich (Ramit Sethi) The Psychology of Money (Morgan Housel) Atomic Habits (James Clear) Money Master The Game (Tony Robbins) “Rich Dad Poor Dad” talks about the lessons Robert Kiyosaki learned from his “rich dad” (the father of his best friend) and his “poor dad” (his biological father). The book discusses the differences in mindset and financial habits between the rich and the poor and emphasizes the importance of financial education, investments, and building assets to achieve financial independence. “I Will Teach You To Be Rich” offers a practical guide to building wealth without too much self-denial. Ramit Sethi discusses topics such as saving, investing, paying off debts, and smart spending. It includes a 6-week plan to achieve financial freedom, focusing on automating finances and investing in yourself. “The Psychology of Money” explores the emotional and psychological aspects of money and investing. Morgan Housel highlights how human behaviors, habits, and emotions influence financial decisions. The book contains 19 short stories that describe the various ways people think about money, wealth, and success and provides insights on how to make better financial decisions. “Atomic Habits” presents
