Expectation vs. Reality: What My Summer Finance Internship Taught Me
Before beginning my Finance & Accounting Leadership Development (FALD) internship at International Motors this summer, I expected to spend most of my time building financial models and working through traditional finance problems. While those skills remain important, my internship and team introduced me to a different side of finance that I hadn't fully appreciated.
International Motors is a large truck manufacturer located in Lisle, Illinois. Previously Navistar, International was acquired by TRATON Group, a holding company owned by Volkswagen. As a member of the Pricing team, much of my work centered around data analysis, instead of spending hours in Excel. Using Palantir Foundry and Python (both of which I had rarely been exposed to), I analyzed transactional level data and developed incremental refreshing datasets that tracked key pricing metrics and compared performance against year-to-date targets. Rather than simply producing reports, the goal was to transform large amounts of data defined by business definitions into information that could support better business decisions.
One of my biggest takeaways was realizing how technology and artificial intelligence are changing the finance profession. The incremental refreshing datasets calculated metrics using columns defined by the business, which allowed AI to make meaningful interpretations of the data in a short amount of time. The “incremental” aspect of the dataset allows for one to compare current month and prior month metrics, while holding the current month constant after month end. The report was set to run automatically at the beginning of every month, to refresh the full data from the previous month. Tools like Palantir allow organizations to analyze enormous amounts of information in a short amount of time as well as automating specific responsibilities, but the technology itself isn't what creates value. People still must ask the right questions, interpret the results, and communicate meaningful insights resulting from data analysis to decision makers.
If you're preparing for your first internship as a graduate student, don't be disappointed if it doesn't match the picture you created in your head. Every experience offers an opportunity to develop skills that aren't always taught in the classroom. Stay curious, ask questions, and be willing to learn new tools as you may discover a side of finance you didn't know existed.
