As Adam Greenwald, a senior finance major from McKinney, Texas, prepared for his last semester at Texas Tech University's Jerry S. Rawls College of Business, he knew real-world experience would be essential before beginning his full-time career.
He also knew finance internships are highly competitive.
“Finance-oriented internships open early, so I actually started applying for internships close to summer last year,” Greenwald said. “I applied to a number of jobs – I'd say close to 50 – on Handshake, Indeed, and LinkedIn. For Charles Schwab, I applied directly through their website.”
He secured a nine-week internship with the Schwab Private Wealth Services™ team at the company's national headquarters in Westlake, Texas. Throughout the summer, Greenwald studied for and passed the Securities Industry Essentials (SIE) exam (the company paid for access to the learning software and the exam fee), shadowed wealth consultants, collaborated with fellow interns on a project, and met individually with senior professionals across the organization.
Greenwald says the internship's biggest impact hasn’t been in technical experience. Instead, it has come through the relationships he’s built and the confidence he’s gained by networking with experienced professionals.
"They really encourage networking and setting up one-on-one meetings with senior consultants and leaders,” he explained. “I've probably had around 30 one-on-one conversations during my time here and it can be a little nerve-wracking coming up with questions and keeping those conversations going, but I didn't have much experience networking or speaking with people in higher positions before this internship. That's definitely been the most beneficial part."
Long before he arrived at Charles Schwab's headquarters, Greenwald says the Rawls College helped set him up for success. One of the college’s tools he used was Handshake, an online career network and job board service provided by the Rawls Career Management Center that connects college students with employers.
“Handshake is a great platform for preparing to contact companies and for communicating with them,” he said. “Of the three internship opportunities I was deciding between, two of those came from Handshake.”
The second Rawls College experience was an industry trip to Dallas last October as a Rawls Banking Association (RBA) member. The trip included a visit to Charles Schwab's headquarters, the same location he would later return to as an intern, and helped him develop networking skills that he would reference during interviews.
“That trip was really cool – it was fully funded and provided the opportunity to network with professionals while still attending college,” he said. “The experience was so impactful that when I’m asked in interviews what has been a challenging or valuable experience, I always use that trip because it got me out of my comfort zone and allowed me to approach company leaders and hold conversations with them.”
From networking with the CEO and a multitude of experienced professionals across the organization to discovering the importance of company culture, Greenwald's internship became more than a résumé builder. It helped him develop confidence, build meaningful professional relationships, and confirm the career path he hopes to pursue.
Q&A
Q: When deciding between internship programs, what ultimately convinced you this one was the right one for you?
Greenwald: Funny enough, considering I could’ve used the compensation, it actually wasn't the pay. For me, it was the number of resources that would be available at a headquarters location – all different types of departments and people.
Q: What does a typical day look like in your internship?
Greenwald: Every day has been a little different, but recently I've been studying for the Securities Industry Essentials exam which I’ll take before my internship is over. That’s one of the awesome opportunities that came with the internship – Charles Schwab paid for my access to the exam learning software and for the exam. I passed the exam during my internship, so in addition to all the experience I've gained here, I'm leaving with that accomplishment, too.
Outside of studying, day-to-day I meet with senior wealth consultants across departments to learn what they do, and I shadow my intern leader. He recently graduated from the intern academy and is now working full-time at the company. I get to sit in the wealth services team meetings alongside him and observe his calls and daily interactions and work.
Q: Were you involved with any big assignments or projects?
Greenwald: Our intern business summit project stands out. Among the 60 to 70 interns from different departments at headquarters, we were paired up to develop a solution to a business prompt. We had to present our pitch for a resolution to the prompt to a panel of managers and directors. It was nerve-racking, but collaborating with so many people and getting to know the other interns made it really rewarding.
Q: Is there anything from your internship experience you are particularly proud of?
Greenwald: I was proud of myself for getting the internship but after getting to headquarters, it was all pretty surreal. I really had to push myself to take advantage of as much of this opportunity as I could. No one’s going to come over, pick you up from your seat, carry you over to a meeting with a manager, and start that conversation for you. I had gotten this far, but it is up to me to get the most out of it. Taking full advantage of the opportunity is something I’ve taught myself during my time here and I’m proud of what I’ve been able to accomplish in a short nine weeks.
Q: How has the internship influenced your career goals?
Greenwald: I've had another internship at a law firm before, but this one really confirmed two things for me: one is that client-facing finance is where I see my future, and two is how important company culture is.
In my time here, I’ve met a lot of senior wealth consultants who are established and have been around other places. In our conversations they’ve all said the same thing – it's important to find a culture that fits you. You know, a lot of people think pay and job titles matter most, and obviously pay is important, but culture matters more than people think.
Q: Was there anything about the internship that surprised you?
Greenwald: It may sound cliché, but the culture has been amazing. Everyone has been incredibly welcoming and willing to spend time answering questions, no matter how busy they are, but they’re not only that way with the interns – they’re all super giving to and inclusive of one another. It’s clear Charles Schwab really cares about its employees, and everyone feeds off that. I've been in some corporate environments before, but I've never been in one that's been as inviting and welcoming as this one.
Q: What internship advice would you give to other students?
Greenwald: First, I’d say, pay attention to your email. Rawls sends emails about internship opportunities opening and notifications about companies beginning recruitment for internships. Those emails were the first thing that put applying to internships on my radar.
Second, take advantage of all the resources Rawls offers. That is something that took me a little bit of time to figure out, but student organizations, the Career Fair, the Career Management Center – they’re all free and they all set students up with opportunities for internships.
Also, don’t let shyness or fear get in your way of getting involved with a student organization because they also encourage internship opportunities and, for example, the RBA hosts panels of recent graduates and students who have participated in cool internships.
I have a twin brother whom I’m really close with – we came to Texas Tech together, we live together, we’d always do stuff and go to things together. I remember when I heard about an informational meeting for RBA, I honestly thought we’d go, just for the free food, but he couldn’t go that day. It was nerve-racking for me to think about going without him, because it’s always easier to get involved when there’s two of us, but I’ll say again, free food.
So, I went to the meeting by myself, and a couple of weeks later I was boarding a plane without him, but with other Rawls students, for a free trip to Dallas to explore businesses in our industry. Now, I’m working at this internship and it’s the first job we’re not working at together.
It may seem minimal, but looking back to that first RBA meeting was a big step I took for myself and it shaped my future. If I'd stayed home because I didn't want to go alone, I wouldn’t have found the encouragement to take the Dallas trip or end up at Charles Schwab for a summer internship. In forcing myself not to be so hesitant to get out there on my own, I’ve grown with every step since that meeting.