For the Dutch version, click here. The venture capital (VC) industry is an exciting and fast-growing field that provides individuals with the opportunity to make an impact in the business world, which can be highly rewarding if you’re willing to put in the work. If you’re looking to break into the VC industry, you’ll need to demonstrate a combination of skills and knowledge that can be developed through a variety of avenues. This article will provide a comprehensive guide on how to start your career in venture capital and the skills you need to succeed. 1. Develop Your Knowledge of the Industry The VC industry is a complex environment, and it’s important to have a detailed understanding of the industry before you jump into it. You will have to have a thorough understanding of how VC funds add value, how VC investments are structured, and the different stages of the venture capital cycle. Additionally, it’s important to understand the regulations and legalities of the venture capital industry, as you will need to know the boundaries you are required to operate in. In order to develop your understanding of the VC industry, you could best read industry publications and blogs by leading VC funds, attend conferences and seminars (for example from the NVP), and network with other professionals in the industry. 2. Develop Your Analytical Skills A major part of a venture capitalist’s job is to conduct due diligence and financial analysis on potential investments. First, it’s important to have the ability to assess a company from a financial perspective. Here, you have to be able to determine the valuation of the company with limited information, understand how the investment will create value in the future, and be able to evaluate whether the financial forecasts of the company make sense. Next to this, you also have to be able to analyze the market to understand how the company compares to its competition, how the market is segmented, and to be able to evaluate its product/service positioning. To develop your financial skillset, you should dive into some finance and accounting books and articles, take economics and financial analysis classes, and practice analysing financial statements. For market analysis skills, you’ll have to do the same things, read up on the topic, take classes, and practice. 3. Develop Your Network Having a strong network within the VC industry is essential to finding the best deals and staying abreast of the latest trends. Networking is in essence talking to people, but finding the right people is easy said than done, so here are a few tips: Attend networking events, join industry associations, connect with professionals on social media platforms like LinkedIn, and ask for introductions from people you already know. If you show a willingness to learn and a genuine interest in the people you reach out to, you’ll be amazed by their willingness to help you out. 4. Develop Your Negotiation Skills Venture capitalists need to be skilled in sales and negotiation to be successful. In the end, the valuation of a company and all other terms in the deal come down to the negotiations between the VC fund and the company. When it comes down to negotiations within venture capital, you need to know where the other party is coming from. While it may seem that a VC investment is purely financial, for the founders of the company that you are investing in, a lot of emotions are at play. It is therefore important to understand that venture capital is a people’s business, where building long-term relationships is essential. Being able to explain why certain terms are included in a deal and being able to defend your valuation of their fund without offending them is key to making a deal go smoothly. While you could develop these skills by practising presenting, you can only truly learn these skills through experience, which brings us to our last point. 5. Get Experience Gaining experience tops all other points in the VC industry. There are two ways you can go about this. The first one is the long way around, namely starting and becoming successful with your own company with VC backing. This will essentially give you a ticket into the VC industry as then you will already have almost all the skills needed, but this way is not for the people who want to go directly into the venture capital industry. If you want to immediately start in the VC industry, you can start by doing an internship at a venture capital fund, become part of a student VC fund or start working as an analyst at a venture capital firm. If you’re not able to start this way, you can also work for startups and get involved in the entrepreneurial community. By following these steps, you can lay the foundation for a successful career in venture capital. Developing a career in venture capital is no easy feat, but with hard work, dedication, and a willingness to take risks, it can be a rewarding and lucrative path. By gaining experience, building a strong network of contacts, staying educated on the industry, and staying up to date on industry news, you can set yourself up for success in the venture capital world. Good luck!
Working at EY
For the Dutch version, click here. Who are you and how did you end up at EY? I am Bas, 22 years old, originally from a small village in Limburg, but since the start of my student days I have been living in Tilburg. After finishing my Bachelor in International Business Administration (including an exchange to Melbourne, Australia), I started the Master Accountancy, which I completed last summer. During my Master I oriented myself considerably on the life that would follow after my studies and this led me to a thesis internship at EY Eindhoven last February. Why did you choose to combine writing your thesis with an internship? When I started my Master I felt the pressure of adult work life slowly approaching. At the time, I had doubts whether a future within Accountancy was really my ambition. My friends and fellow students advised me to get in touch with companies in order to find an internship. I took part in several events of the study association ‘Asset | Accounting & Finance’ and that’s also how I came into contact with EY. A thesis internship felt like a safe choice to get a better idea of what work life is like this way, but at the same time still have enough time for my studies. Did this give you an advantage over your fellow students? My internship definitely gave me an advantage over fellow students without an internship. I had time available every week for my thesis, since the days I spent writing it counted toward my thesis internship. This motivated me to actually work on my thesis. In addition, I was assigned a “buddy” and “mentor” at EY. My buddy helped me with daily tasks and general questions. This was very accessible because he had also completed a thesis internship not long ago. My mentor, on the other hand, had been with EY for some time. Therefore, he was able to give me good career perspective and advice, as well as substantive support for my thesis. Were you able to achieve your personal goals during your thesis internship? I quickly noticed that I could achieve the most if I took a proactive approach and clearly stated what exactly I wanted to get out of my internship. It was recommended to spend 2 weeks with a team, but flexibility in that was possible. In total, I interned for 5 to 6 weeks myself, because my main reason for a thesis internship was to experience what the real-world work was like. Before I started as an intern, I was hesitant about whether I would be able to do my work well because I had no practical experience within Accountancy. During these internship weeks, these doubts quickly disappeared. Due to a warm welcome from the team and good supervision, my learning curve was fast. I realized that it was perfectly normal that I did not know everything yet, and everyone was open to help me where necessary. Partly because of these weeks, I discovered that I found the work extremely interesting, which suddenly made me a lot more confident about a future in Accountancy. “In my opinion, the best way to orient yourself is through a (thesis) internship or work-study.” Why did you choose to stick with EY? In fact, I was so sure about my future in Accountancy that I started as a Staff Audit at EY Eindhoven last September! Like many students, I was in doubt for a long time whether I wanted to extend my student time or was ready for a job. Since I liked the work and the atmosphere in the office so much, I decided to take the plunge and start working. During my internship, regular activities were organized (e.g. lunches, drinks and training sessions), which allowed me to get to know more and more people within EY. The switch from student to working took some getting used to, but in the end I am very happy that I took this step. Moreover, I am currently still following the Post-Master Accountancy on Fridays, so I still feel a bit like a student. You mentioned that you have now started, how have the first months been? So far, the work has suited me well. During my internship period, the corona measures were stricter than now, which made it difficult for teams to go to clients together. For that reason, I find it extra nice that this is now possible again. Over the past few months I have been able to see and learn a lot. Every day I learn new things and I am definitely not finished with my personal and professional development. Moreover, through both my internship and the two-week starter induction in September, I have been able to build a good relationship with my ‘year layer’ of EY starters, whom I can now also call colleagues. I am surrounded by people who have also made the step from intern to employee, with similar experiences, and this is very nice. What else would you like to tell students? I hear many doubts from students: “Am I going to do Accountancy, or Finance, or something else altogether?” In my opinion, the best way to orient yourself is through a (thesis) internship or work-study. During this period you will find out what work involves and what it is like within a sector. One last tip from me: go to (Accountancy) events, talk to fellow students, or send a message to a campus recruiter. A (thesis) internship can really help you clear your doubts! If you have any questions, you can always send me a message on LinkedIn.
Working at PWC
For the Dutch version, click here. The image of a boring accountant, dressed in a suit with a calculator in their hand, is outdated. Liselotte de Zoete is keen to explain why her profession is so fascinating and far from boring. She discovered her interest in accountancy during her Economics and Business Administration studies. After which she followed a business course at PwC and was hooked. Sharing my opinion “Before I started studying, people sometimes told me I should become a politician. I have opinions on everything and I really want to make an impact. I didn’t become a politician, but I still like to share my opinion. I do this as a senior associate and recently also as chairman of the works council. A nice combination that challenges me to get the maximum out of myself in different areas. As a senior associate within Financial Services, I advise clients on how to achieve their goals in a responsible manner. On the other hand, as chairman of the works council, I focus on PwC’s own policy. In both roles, I am very much involved in gathering and sharing knowledge. As a senior associate, I work in multidisciplinary teams with various specialists. For example in the field of digitalization and data analysis. That results in a nice interaction in terms of knowledge sharing, from which I in turn also learn a lot.” Focus on opportunities and possibilities “PwC employs people with many different backgrounds and talents. That inclusive culture and open work atmosphere immediately appealed to me. I have adhd and am dyslexic. This is no problem at all at PwC. In fact, there is even a diversity network for PwC employees with work challenges. Within this Ability network the focus is not on limitations but on opportunities and possibilities. At the time, I was therefore pleased to be able to do my graduation internship here. It was a nice way to get to know the organization and the audit and accountancy practice better. I discovered that I liked the field of Financial Services within the Assurance business unit best. So it was very nice that I could start working within this team immediately after graduating.” “The world in general, the world of our clients and that of PwC is constantly changing. So it makes sense to move with that and keep developing yourself.” A large training center “PwC is, in a sense, one big training center. The world in general, the world of our clients and that of PwC is constantly changing. So it makes sense to move with it and continue to develop yourself. There are plenty of opportunities to do so. You can follow courses and training programmes and you have access to a worldwide network of professionals with whom you can share knowledge, experience and ideas. When I indicated that I wanted to stand for election to the works council, I was given every opportunity to do so. I had good talks about it with our management team. They thought along with me in a positive and constructive way about how to fulfil this role alongside my work as senior associate. This has worked out well. So good, in fact, that I have been able to make great strides in both areas. The presidency has brought me much and is an immense learning experience. In addition, I will soon grow into the role of manager within my accountancy work, where I am the pivot between management and execution.” A pleasant working environment for everyone “Within the OR, we are committed to a pleasant working environment for all employees. We also maintain an open dialogue with the management about company policy and employee interests. This can be about anything. For example, we have made a case for flexible working hours and a personal well-being budget for each employee. In this way we ensure a good work-life balance. What about my own work-life balance? In terms of audits, the winter period is a busy time, when my work really comes first. As soon as the sun shines more often again you can find me on the field hockey field in my spare time. I also love cooking, good food, reading, traveling and of course my dog Saskia.”
Working at EY
For the Dutch version, click here Vitality is a theme that is often put high on the agenda within large organizations, but where people do not always have a clear picture of the concept. EY is one such firm where, alongside Tech, Diversity & Inclusiveness and Corporate Responsibility, Vitality is referred to as one of the four main focus points and where personal career development is central. We talked to Marieke Brouwers to find out how this theme manifests itself in practice. Marieke Brouwers is Manager Audit at EY, but in November she also won the World Championship Duathlon! After 10 kilometers of running, 40 kilometers of cycling, and another 5 kilometers of running, she was not only the fastest of her age group but also the fastest overall. She traveled to Aviles (Spain) with the motto ‘participating in a World Championship is more important than winning’ and eventually took home the title of “World Champion”. Something that had not even occurred to her beforehand. Could you briefly share a bit about your career path and your current position within EY? In 2014 I completed my Master’s in Accountancy at Tilburg University and then started at EY Eindhoven in September. In the meantime, I have also obtained my Post-Master (RA) and I am a manager in the audit practice. During my first years, I served many different clients and gained experience in different sectors. In 2018 I worked in Tokyo for EY for six months, which was a hugely cool experience! Currently, I am working in the Amsterdam office where the biggest client in my client portfolio is one of the clients I served in Tokyo. How do you manage to combine this busy job with everything else you do besides work? One of the sayings I often make is “time, is priority”. I really enjoy exercising and find that it makes me a better person. If I didn’t prioritize sports, I’m sure it wouldn’t benefit my performance at work. Especially in busy moments, I find it very important and nice to clear my head by exercising. Despite having a busy job, in my opinion, there is no such thing as a large number of hours in the week that you can arrange yourself. There are colleagues who find it relaxing to then sleep in, “Netflix” or have a family that they invest a lot of time in but draw energy from. I live with my boyfriend, have a rich social life, and a busy job but I can arrange my own time in such a way that I do exactly the things that I need and get energy from. Sports is one of them. What does a day in your life look like? Actually, there is not really a standard day in my life. I train about 15 hours a week according to a schedule that I get from my coach. Each day is then indicated what I should do, which can vary from running to cycling to swimming or strength but also a combination of the aforementioned sports is quite possible. I always get this schedule on Thursday or Friday for the next week. However, I can indicate in advance if training on a particular day is not feasible because, for example, there are deadlines for work or client appointments outside the door. Also for work, I know what needs to be done each week. Based on this, I plan my week on Friday with a combination of work and sports. Of course, this is not set in stone but it gives me peace of mind that I basically don’t have to think about it anymore. “Within an organization like EY everything is possible, as long as you communicate clearly about it and indicate what you need.” Today, for example, I was at the gym at 7, was showered, and sat behind the laptop at 8:30. I will go for an hour run as soon as it gets dark and have to answer some emails after dinner. Tomorrow I go to the office and there is a 2-hour bike ride scheduled as training. So then I’ll try to get to the office nice and early so I’m not home too late to eat, let that sink in, and then get on the Tacx (indoor bike) to do my workout. What does the theme of ‘vitality in the workplace’ mean to you? In my opinion, vitality in the workplace is the right balance between work and other things that are important to you. Personally, I get a lot of energy from my work, but if I only worked that would no longer be the case. The balance you need between work and home is, in my opinion, important to be a happy person. Only when you are happy and pleased with yourself can you get the best out of yourself and others. So when my colleagues have found this right balance they can get the best out of themselves and other teammates and deliver the energy at work that they deserve. In my eyes you are then “vital” or “fit for the job”. For me personally, that is clearly sport and my social life, but there is no right or wrong here. Vitality in my eyes is therefore not directly related to sport. Why do you think this theme is so important? This theme is especially important in order to realize that more is not always better. Many people have the impression that the Big-4 firms are all about working long hours, but that is not the case at all. I also try to communicate clearly to my teams that balance is very important. For example, I would rather have a staff or senior indicate that he needs to do something for himself and is productive for 8 hours and recharges himself than work 10 hours but is only productive for 6. When someone is comfortable in their own skin they can function better which improves quality. It
Working at Rembrandt Mergers & Acquisitions
For the Dutch version, click here Who are you and what did you study? My name is Felix Gulinck and I am originally from ‘s-Hertogenbosch. Since the start of my study Econometrics I have lived in Tilburg. After completing the bachelor Econometrics & Operational Research, I did the master Quantitative Finance & Actuarial Science (QFAS). During my studies I always played hockey in the premier league at HC Tilburg Heren 1 and I still do that now. How did you come into contact with Corporate Finance / M&A? Knowing that there are many different options within finance? During my master I followed a number of finance courses and I soon found out that I had more passion for that than the hardcore Econometrics courses. Knowing this, I spoke with several people who work in the M&A sector. At a certain point I had a good idea for myself at what kind of company I would like to work and then I came into contact with Rembrandt Mergers & Acquisitions. How did you come into contact with Rembrandt Mergers & Acquisitions? Because I knew at a certain point that I wanted a job in the M&A sector, I was able to delve further into what kinds of companies operate in that sector. My preference was for a company where I would not only sit behind my computer but also have contact with customers. In addition, I was looking for a company with a friendly atmosphere. What really appealed to me about Rembrandt was that projects are carried out in teams of two; a project manager and a project assistant. As a result, both the project manager and project employee are closely involved in every step in the purchase or sales process, and as a project employee you also have a lot of contact with customers. What is the ideal profile of a student/starter who would like to work at Rembrandt? At Rembrandt, we would like you to have completed at least 1 master’s degree in business economics. The master’s in finance is best suited in terms of subject matter because you will already have had some valuation theory. But with good numerical insight and some extra preparation you can also be hired. Rembrandt is looking for students who distinguish themselves. The combination of grades, study duration and, above all, additional activities are viewed as an overall picture. I’ll take myself as an example: Econometrics is not the program that best suits M&A. But by completing a financial education at university, you have a good (numerical) basis. In addition, as a top athlete you also take extra luggage with you; dealing with performance pressure, good feedback skills, training and team dynamics. To what extent are aspects of your studies reflected in your work? It was only during my master’s degree that I took a few finance courses, but then it was all quite theoretical and it was difficult for me to determine to what extent I could apply it in practice. Now that I have been working for a number of years, I notice that I understand better and better how you can put the acquired theory into practice. “When a transaction is closed, this is of course celebrated with champagne.” The Transaction services sector is known for having to deal with high work pressure and long hours, how close does this come to reality? There are certainly times when the workload is high and you may have to work overtime, but that is certainly not the norm with Rembrandt. By managing expectations well and by planning well, you can largely ensure that you do not get stuck. In addition, colleagues think along when one person is very busy, for example by taking over certain activities. Rembrandt’s culture is also that you work “normal hours” and work-life balance is important. This gives me time in the evenings for other things, such as playing hockey. As a team we train 5 times a week and we also play matches. Rembrandt thinks along with me and gives me the freedom to organize my days differently so that I can attend the training sessions. What makes Rembrandt different from the transaction departments of ‘large’ firms (e.g. Big4)? Rembrandt is an M&A boutique that mainly focuses on SMEs in the Netherlands. We attach great importance to the work-life balance. We work with small project teams, so you can quickly take on a lot of responsibility and have contact with customers. Because the project teams consist of 2 people, you are involved in the entire process and you guide the entrepreneurs from the beginning to the end. I myself have no experience with how things work in the transaction departments of the larger offices, but I can well imagine that the project teams there are larger and that as a starter you therefore have fewer responsibilities and less direct contact with customers. What does the average week of a Consultant at Rembrandt look like? The work at Rembrandt is very different and no day is the same. Because you are involved in different projects, you are busy with various activities during the day. The work varies from performing valuations to negotiating with potential candidates. A working day at Rembrandt is difficult to predict because often things come up in between that have priority for a while. As colleagues we have a lot of contact with each other and we try to help each other where possible. When a transaction is closed, this is of course celebrated with champagne. Both positive and negative: what is the most challenging part of your job at Rembrandt? The variety in Rembrandt is something I really enjoy and find challenging. Both in terms of companies, we do transactions between roughly € 1 – € 100 million in all sectors, and in terms of type of transactions, both buying and selling. Each project is ultimately different due to the activities of the company and I have discovered that entrepreneurs also differ a
Working at Wesselman Accountants | Adviseurs
For the Dutch version, click here Who are you and what is your (study) background? My name is Dennis Vaas, 28 years old and born and raised in Weert. I’ve been living there for 5 years together with my girlfriend. In my spare time I like to do spinning and in spring I like to go cycling with friends. I am also active in the carnaval life and I am treasurer of a carnaval event where we organize a pub crawl along 11 pubs in Weert. Here I am responsible for the finances, sponsorship and ticket sales. I am also a member of a carnaval association with which we build a wagon for the carnaval parade. Carnaval is deeply embedded in my life. I have been working for Wesselman for 4 years now. I ended up here via school, as I first did my graduation internship at Wesselman. It was nice to get to know an accountancy firm in an approachable way through my internship. I liked it so much that I stayed on as an Assistant Accountant. I can now call myself Senior Assistant Accountant. I am now responsible for managing and reviewing and I am the link between the controllers and the assistants. This makes the job of Senior Assistant Accountant fun and challenging. I also like the fact that the variety of clients is so great and the complexity is increasing all the time. My clients range from trade organizations to construction companies. In addition, I really enjoy guiding and coaching the junior assistants in their development. Before I started studying Accountancy, I did the Pabo, but this turned out not to be my passion. After visiting a number of open days, I decided to study Accountancy. I first studied Accountancy at the Fontys University of Applied Sciences. Then I followed the pre-master, master and post-master Accountancy at Nyenrode Business University. I completed the post-master’s at the end of 2020, which means that the theoretical part of the RA course is over. I have now started the practical training, the first year of which is almost over. What makes Wesselman Accountants different? When I came to Wesselman I immediately sensed the good atmosphere. It is accessible and informal, and there is a real eye for the individual; they look at the person behind the employee. At Wesselman you are not just a number. I noticed that during the job interview because of the questions they ask, and as soon as you start you get a warm welcome. Wesselman Accountants is a full-service organisation with an accountancy and advisory practice. You can think of an auditing and compiling practice, outsourcing, payroll, tax consultants, tax return practice and a legal department. We have a lot of specialisms and knowledge in house! “In addition, one of our core values is ‘energetic’ and you can see that in the activities.” At Wesselman, I experience a real family culture. It is a small to medium-sized office, which means that you immediately have a lot of freedom in your work. As soon as you start, you are given responsibilities and you do not have to follow the beaten path, which I like. There is room for your personal interests. For instance, I really enjoy subsidy inspections and within Wesselman I am now one of the WMO inspection specialists. At Wesselman, you can focus on what you have an affinity with, which means that in addition to annual audits, you can also be involved in subsidy audits, due diligence investigations, or the IT aspect of the audit. The atmosphere is also very friendly and I would actually say relaxed among colleagues. There is little hierarchy. You can make jokes with a drawing accountant just as well as with an assistant and the partners get coffee for the trainees and vice versa. What does a day at Wesselman look like? It’s cliché but true, every day is different. For example, yesterday I went to a client and there I discussed the sales and purchasing processes with the client and then I worked it out. Today I started with a pre-audit of another customer. In a pre-audit, you’re going to discuss the controls and developments beforehand and you’re going to see how you’re going to frame the audit. Then, I worked out a risk analysis and the personnel process for the same client of yesterday. I also visit the client regularly. In the spring (pre-corona) that is almost every day. Since corona I have been working more from home. I like that because it is very nice for your work-life balance. Half of my work is at home or at the office and the other half is at the client’s. I have clients all over the Netherlands and I really enjoy being everywhere. Every organization is different and different types of people work everywhere. And I get to take a look behind the scenes everywhere. I get great pleasure from customers’ enthusiasm when I show genuine interest in their organization. This ensures a good and professional customer relationship. How can you grow personally and professionally within Wesselman? At Wesselman I get the chance to obtain my RA title and I hope to eventually develop myself into an audit manager. I can walk my own path in this, and I like that. There is also a real focus on soft skills. For example, I followed a Personal Development program where my personal development, cooperation with colleagues and working in the organization were really central. In addition to my work as an Accountant, I dream of one day teaching at a college. My interest in teaching remains, I didn’t start at the Pabo once for nothing. What activities are there outside of work and what is the activity of the year for you? The activity of the year will be our ski trip to Kaprun. We are going to Austria with all our colleagues. We are going to Austria for a long weekend with all of our colleagues, in honor
