Andrew Strobel ‘24 is an Economics Major / German Minor interning this summer at Thermo Fisher Scientific in Pittsburgh. We asked Andrew….
How did you find your summer internship?
I found my summer internship through a LinkedIn search in September. I was looking for finance internships in and around Pittsburgh. In fact, I would encourage students seeking internships to start early, it pays off! I am a FLDP (Financial Leadership Development Program) intern on the reporting and analytics commercial finance team.
What were your duties?
I was able to work on 2 projects this summer. The first project involved analyzing customer contracts for information regarding our customer incentive program. The commercial finance team typically tracks payments that we have to issue to customers during the course of the year manually, but our team is transitioning to a new application developed in-house in conjunction with IT. I helped input important contract information so that this process will be automated for over 90% of the payments that we make.
In a similar way, I helped the cash applications team by analyzing customer contracts for prompt payment discounts. Prompt payment discounts are given to customers who pay their invoices early (i.e. 1% 10 Net 30). This discount helps incentivize customers to pay, which in turn speeds the company’s cash flow.
The interns were required to participate in a volunteer opportunity together this summer with the caveat that we were to take responsibility for planning and choosing the opportunity. I led the interns in the planning and execution of the event– we volunteered at the Greater Pittsburgh Community Food Bank in their new venture, The Market. “The Market, in partnership with Giant Eagle, offers a grocery store-style experience providing shelf-stable, meat, dairy, fresh produce and non-food grocery items as well as connections to additional resources for help.”
My day-to-day responsibilities involved daily/weekly reporting. The most important report I sent out to leadership was the daily sales performance of one of Thermo Fisher’s North American Business segments.
Would you recommend this experience to other students?
I would highly recommend this experience to any Allegheny student. This opportunity provided me with so much information on corporate finance, the opportunity to learn new softwares, networking opportunities, and work experience as a team and as an individual in a short amount of time. Thermo Fisher Scientific offers opportunities in many different locations around the US, so if you are geographically flexible, it is a great chance to work in a different city. It also provided me with some knowledge that finance isn’t just stocks and bond pricing; there are endless opportunities in the world of finance.
Andrew is a CBE Fellow, Vice President of Delta Tau Delta, a member of the Men’s Soccer Coaching Staff, and is in the process of trying to start a pickleball club!
The Bruce R. Thompson Center for Business and Economics (CBE) prepares Allegheny College students to succeed in a diverse, global economy.