Finance students, Nicholas Amato and Thomas Dzielski, had the opportunity to speak with recent Blue Demon graduate and founder and former President of the DePaul Investment Group (DIG), Damian Wille, where they gained some insight around Wille’s experiences while at DePaul, what it’s like working in equity research for a large corporation in NYC, and what advice Wille has for undergraduate students.
WHY DID YOU DECIDE TO COME TO DEPAUL?
Hailing from Wisconsin, Mr. Wille grew up and attended high school in the Badger State. However, unlike a majority of his classmates Mr. Wille didn’t settle on just exploring Wisconsin state schools. After exploring alternative options Mr. Wille found the city of Chicago, as well as DePaul University, and believed that combination had so much to offer.
Though Mr. Wille felt fairly good about his newly found admiration for Chicago and potential fit as a DePaul student, he was not completely sold until he made a visit. It was on the 5th floor of DePaul Center in the Department of Finance where he ultimately felt a connection. Eyes lit by ticker symbols and Bloomberg terminals, he enjoyed the scene and wanted to be a part of it. Having an intrigue in finance, Mr. Wille saw an opportunity to leverage DePaul’s various outlets and resources, all sitting at arms-length from the Chicago Financial District. From an educational standpoint Mr. Wille cited, “DePaul is uniquely positioned to offer students the opportunity to participate in internships during the school year.” Therefore, by obtaining valuable hands-on learning experiences, DePaul students can better position themselves for their big Junior year internship.”
INTERNSHIPS ARE A CRUCIAL ASPECT OF NETWORKING YOURSELF, AND YOU SECURED MORE THAN A COUPLE. WHAT WERE SOME AVENUES YOU EXPLORED WHEN LOOKING FOR AN INTERNSHIP? WHAT IS THE MOST ESSENTIAL COMPONENT OF GETTING THE MOST OUT OF AN INTERNSHIP?
Initially, Mr. Wille wasn’t entirely certain about what type of career he wanted to go into. Sure, he wanted to work in finance, but he needed clarification about what tailored to his strengths and interests. Mr. Wille decided to learn for himself. Applying and working in various internships, he experienced first-hand what different fields of finance where all about. His goal was to learn as much as he could about what the various careers in finance could offer. Though his motivation behind getting internships may not be universal, he urged that students should be equipped with the desire to learn all that they can with the opportunities that are provided. By striving to increase exposure, a student’s interview process will be tremendously smoother as students will have a better handle on what is expected. For Mr. Wille, after working with equities he became familiar with the prospect of working in equity research, which is ultimately what he settled on.
To procure internships students need to network. Wille suggests, “Get coffee… take advantage of being a student.” As a student, professionals are willing to tell us what they know. Additionally, students shouldn’t just get coffee and be done with the person; but rather use those opportunities to establish relationships. Mr. Wille urged that students could continue the professional interactions by simply sharing an article or updating their mentor on their current studies. “Whatever you do, find engaging ways to further develop your connection”, Wille stated.
YOU WERE THE PRESIDENT OF DEPAUL INVESTMENT GROUP, AND PARTICIPATED IN VARIOUS OTHER CLUBS. WHAT WERE THESE EXPERIENCES LIKE?
At DePaul, Mr. Wille was a part of several student organizations as well as two on-campus jobs. Early on, Mr. Wille joined the DePaul Investment Group. Eventually as President, he instituted a portfolio competition—the first of its kind. As a person always looking to better himself, he made time to be more involved. While working for the admissions office and as a campus tour guide, he also was the president of a service group and the treasurer of the student government. Sure, it was difficult, but with the right time management skills, Wille noted, anybody is capable of doing what he did. “What students don’t understand is that they are missing out on maximizing themselves through effective time management.” Mr. Wille described one approach he often used, where he would get an assignment and do it as soon as possible. “Whether it’s an assignment or an email, time takes away your best ideas. So get to it!”
AS PART OF THE CITY CENTER CIRCLE AND DEPAUL’S THEATER UNION, WHAT EXPERIENCES DO YOU CHERISH FROM PARTICIPATING IN AND AROUND THE ARTS? HAVE YOU APPLIED ANY LESSONS IN YOUR PROFESSIONAL LIFE?
Mr. Wille loves the arts. He credits the arts as something more than an activity of personal enjoyment and socializing. “It makes you think differently about problems.” Citing research, Mr. Wille explained that playing an instrument and reading music is good for exercising creative thinking. Furthermore, he believes that somebody “can’t always focus on finance, you need a break.” By getting away from the stress of finance, Mr. Wille asserts that you will develop a newfound appreciation that will improve your life. In his case, music.
WHAT APPEALED TO YOU ABOUT WORKING IN EQUITY RESEARCH?
Mr. Wille had always found equities to be interesting. However, before working in equity research, he never knew the appropriate technicalities. This all changed after taking the Investment Seminar class. During this class, Mr. Wille was subjected to strenuous assignments that intellectually pushed him. Introduced to terms like CAPM, DCF, and beta, he was forced to learn on a whim. After a short period of ruthless tests, Mr. Wille became infatuated with the content, and learned the necessities to succeed, “be differentiated, and be certain.” Upon completion of the Investment Seminar course, Mr. Wille felt confident that equity research was something he was passionate about.
Equipped with the skills for equity research, Mr. Wille began applying for research internships. Luckily, he had established a relationship with Professor James Valentine, a former equity researcher. By consulting with Mr. Valentine, Mr. Wille came to realize the nuances behind the selection process. Before long, he was offered a position at Jefferies.
WHAT ADVICE WOULD YOU GIVE TO STUDENTS LOOKING TO SECURE A FORMAL INTERNSHIP?
With a sound response, Mr. Wille adamantly replied, “Apply early, and apply often. Don’t let rejection slow you down. What matters is that you stay focused and stay positive.” He also expressed that by constantly exerting yourself, you’re raising the probability of getting an internship.
Before the conclusion of our conversation, Mr. Wille thought for a moment and added, “All of what I have said is true. But another element I must add is passion and drive. Work to understand the material. Work hard in class? Great. However, work harder outside of it. Read up about financial concepts and news to keep your head in the game.”