Alumni of the Month January 2016

ÂŤThe University of Liechtenstein features a unique platform for students to step into the financial industryÂť

Patrick Prinz

Alumni of the Month January 2016

Dear Patrick, last year you graduated from the University of Liechtenstein. How are you doing and what are you doing now?

I am doing great, things turned out pretty well after I left university and once I started my next chapter in life. I have been working with Citi, an American investment bank, for 14 months now.

I started a job which I secured already in my penultimate year of study. Looking back, I followed the path of a classic finance student: did a summer analyst program prior to my final year at university, got a job offer and subsequently returned after graduation.

At the beginning of your job you were in London. What did you do there and how did you experience life and work in comparison to Liechtenstein and Switzerland (Zurich)?

Correct, as a first stage in my new role I spent roughly two months in London, were I was introduced and trained specifically for my role and responsibilities in our regional headquarters in Canary Wharf. London still represents the major financial hub in EMEA (Europe, Middle East and Africa) and it provides the ideal platform to meet my fellows of the new analyst class. These two months were quite demanding, considering the workload and intensity, but also rewarding, in terms of the network that one can build internally within the bank as well as externally with international professionals in the industry. The dynamic, fastpace environment which this city features posed certainly the biggest contrast in comparison to Vaduz and Zurich. Life within my circle was very much career-driven, so that the job dominates every day in life – an aspect which was, however, not at all unexpected.

Please tell us a little bit more about your current job. As an investment banker, how does your daily routine look like and what are your main tasks?

Within my job there is nothing such as a daily routine, certainly my desk looks similar every day and the colleagues sitting around me are most likely the same (being conscious that labor turnover is higher than in other industries), nevertheless, the challenges we are tackling as a team are diverse and constantly new topics arise so that my learning curve does not flatten. Every day my top priority remains serving our clients with best-in-class service while bringing up innovative solutions which help them grow organically or inorganically, resolve liquidity problems, improve working capital positions, raise capital or put funds to their most efficient use, to name but a few tasks that my team focuses on. Working in a regional office, the team serves the biggest corporations and financial institutions in Switzerland and Liechtenstein.

In your opinion, did the University of Liechtenstein prepare you well for your current job? Did you take any extra courses to make yourself an excellent candidate for your employer?

Bulge-bracket banks are known to hire exclusively from target schools, which are the prestigious, most often expensive, elite schools in London, Paris, etc. However, it is a wrong believe that it will be impossible to go this path if a resume does not feature the name of a target school. On purpose I went the other way, the University of Liechtenstein has a young history but features a unique platform for students to step into the financial industry.

Eventually all finance students are learning from the same books and it depends on each and everyone how he/she builds and positions the story in the resume. Liechtenstein and the university are exotic and unique, two characteristics which are sought after and can make the difference. However, when choosing a university I recommend looking beyond curriculums and reputation. Rather check out the study environment, the country and language, etc.

Live independently and try to make the most of your time as a student (be it through a semester abroad or a part-time job). During my time at university I insisted on living in the student dormitory, knowing that, besides the academic theory, I could benefit from a unique international environment which perfectly mirrors the working environment which I face now. Knowing how to work with, lead or solve problems in collaboration with different cultures is not a plus but a prerequisite in a world which is driven by international trade and increasing globalization. Additionally to university and my job I did CFA level 1 and 2 during my time in Liechtenstein, a program which students are encouraged to take by the institute and which allows you to dive deeply into finance. It is a diverse program covering all aspects and helps to differentiate from competitors. Despite not being a requirement in my field, the program was beneficial for my personal development.

«Live independently and try to make the most of your time as a student.»

Sometimes students face challenges to find their first job. How did you manage to find yours? And do you have any advice for (finance) graduates when looking for a job?

(1) From experience I recommend every student (not just finance) to start applying early. Early meaning up to one year before graduation. Many feel overwhelmed by the workload during the final year at university so that students find it hard to spare time to apply (acknowledging that finance applications and interview processes often require more time and commitment than in other industries).

However, be assured that the workload is a piece of cake compared to the hours and workload that will be dumped on you once you have started in the industry.

(2) Do internships/work part-time. Make sure you have sufficient work experience and feel comfortable working within a team and within an organization. (3) Go the extra mile. This goes hand in hand with number 2, do extracurriculum activities, do the CFA, be team captain of the local football club, member of a speaker`s club or anything else that interests you. It is not necessary regarding a big name or success, but regarding the confidence and skills that you acquire.

Coming from Vienna how did you get to know about the opportunity to study in Liechtenstein and what did influence your choice?

Looking exclusively for an English speaking Master program in finance surprisingly narrowed my search already significantly. Via the internet I came across the uni.li where I used the chance of visiting during the openhouse day. The charm of the country, a fascinating landscape and in particular the friendliness of the people convinced me to try something new and move abroad. Going abroad might sound funny when an Austrian speaks about moving to Liechtenstein, but no doubt the heavy accent, the different currency and the adapter I needed for electrical devices made it feel very foreign for me.

«The charm of the country, a fascinating landscape and in particular the friendliness of the people convinced me to try something new .»

As an alumnus, how would you describe the typical (finance) student of the University of Liechtenstein?

Balanced, diligent, international.

Now looking back to your studying time what do you miss the most? And what are the bright sides of studying in Liechtenstein?

Working hours (average)

Certainly I miss the friends I have made during my two years in Vaduz the most, be them study fellows, colleagues or university staff.

Moreover, I miss the flexibility I had as a student and the hours I have spent discussing cultures and their differences with the international student body in the dormitory.

The balanced environment allowed me to fully focus on my personal development as well as laying out the strategy for my further career after graduation.

8:00

9:00

22:00

24:00

“Weekends occur but are not the rule”

Work approach (in %)

Team work & individual work

«The balanced environment allowed me to fully focus on my personal development.»

Inhouse & extern 0

50 100 150

Productivity level Personal petrol

Low High

Coffees (per week)

morning

lunch time

afternoon

evening

Gym every second morning at 6 am!

Living places comparison Lunch

After work beer

Working environment

Zurich

c. CHF 25

c. CHF 5-9

 (good)

London

c. CHF 10

c. CHF 7.5-10

 (tough but great career paths)

Possibilities for outdoor activities  (excellent)  (clubbing and shopping are main leisure activities)

Work-life balance  (good)  (pretty bad, career is the sole focus)