The managing director of a private markets office has declined to interview an intern for a permanent position. The intern, who recently graduated, expressed interest in working for the office during her internship. However, the managing director questioned the intern’s decision to still be on campus in search of a job in June.
The managing director, who is also the chief investment officer, raised concerns about the intern’s timing and suggested that the endowment office is not a fallback plan for recent graduates. The intern defended her decision, stating that she found the projects she worked on during her internship fascinating, particularly in evaluating a manager’s track record.
During the interview, the managing director shared his perspective on the importance of the endowment office being located on campus. He emphasized the need to provide substantial funding to support various university activities, including scholarships, art history, and particle physics. The managing director also highlighted the conflict of values that exists in the finance industry and the significance of making meaningful contributions.
The intern, who had a double major in economics and history, expressed her admiration for the managing director’s commitment to having the endowment office on campus. She emphasized the intellectual aspects of the work and her desire to have a career in finance that aligns with her passion for making a positive impact.
The managing director acknowledged the intern’s thoughtful response and discussed the role of judgment in their work. He explained that their job involves evaluating general partners across different asset classes and determining when to replace them based on their ability to meet the endowment’s financial goals.
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