Documente Academic
Documente Profesional
Documente Cultură
Phelps
Jeri Ricketts
Business Ethics
August 21, 2015
2015 LHP Domestic Experience
The LHP Class of 2018 embarked on a domestic journey that has
changed all of our lives. Whether good or bad, small or large, an
impact was made and learning was accomplished. I had begun the trip
with an open mind to learn and that is exactly what happened. I was
able to absorb a large amount of information and gain insights into
more of my personal likes and dislike in regards to my future. I greatly
enjoyed the fact that the destinations we visited were very different
and had abundant offerings in diverse avenues. This trip truly made
great relation to the American Business History and Regulations and
Business Ethics course. Below are key items I learned from the
different experiences that were taken.
I. Senator Brown
The trip began with a view from the regulatory side of the nation,
also known as the Government. I was personally very excited to visit
the United States government headquarters because I have frequently
envisioned myself working in a governmental capacity at some point in
my career. Since middle school I have been interested or involved in
evolved into one of the largest banks in the world. Our hosts, Lori Beer
and Lester Owens, were remarkable to learn from. I enjoyed that they
are both on the technology side of the large banking business because
it is a different perspective than most have on the banking systems.
What excited me the most was hearing about the large amounts of
inflow and outflows that they are able to see daily. I believe the
number was about 6 trillion dollars that they are able to see move per
day.
Another aspect of our visit to JP Morgan that I took time to reflect
on was the amount of diversity they have in their offices. In the past,
white male employees have mainly filled financial banks. During the
visit I took notice that there were many woman and African Americans.
I was excited to see this representation. It shows that these companies
and the banking industry as a whole saw the absence there was when
it comes to diverse employees and the different perspectives these
individuals provide to the banks. Many companies like JP Morgan have
internal programs and are parts of groups that help recruit and retain
diverse candidates.
The impact this JP Morgan visit had on my future is that it truly
changed the outlook I have on the banking industry. I have frequently
had a negative perception of the big banks ever since the 2008 crisis.
It has been very difficult to trust them, but being able to speak with
individuals that are very high in the corporation has helped build my
trust.
V. City Bank
Unlike the previously mentioned company visits I unfortunately
had somewhat of an opposite takeaway from our City Bank visit. City
Bank is a company that I was not very familiar with until I had learned
we were going to visit their offices. The company shaped out to be
similar to the other large investment banks. The portion that was most
negative for me was the company culture that I grasped. I do not
believe their entire company culture is poor, I just think that what we
were presented was on the side of business that is not of interest to
me.
The trading side of banking seems very interesting from looking
at investment platforms and how those are able to generate cash, but I
did not enjoy seeing the background of how it works. During our
meeting with the panel I felt that each individual was either exhausted
from long hours or just worn out from working too hard. With much of
the explanation of the day-to-day job I was beginning to realize that
the work-life balance was not present for entry level trading floor
positions. Personally I was not very surprised. This summer I have
learned a lot about the grueling hours that go into working in the
financial industry.
The portion of the City Bank visit that I enjoyed the most was
seeing their trading floor. Their floor was just like the movies, a very
large room with many computers and endless amounts of workers. This
sight was amazing because I could simply picture scenes from some of
the Frontline and Wall Street movies I have seen in Ethics and Finance
class. In total City Bank does seem like a great company but it is not
one that I would see myself working for in the future.
Overall Experience
My times outside of the company visits were well spent.
Washington D.C. was filled with a lot of sight seeing of our American
history. I had visited many of the monuments and sights in the past but
during this visit I was able to take time to fully appreciate the locations
I was viewing. The Lincoln monument was one monument in particular
that I greatly enjoyed. There I was able to stand at the feet of where
Dr. Martin Luther King Jr. stood and imagine the vastness of influence
he had on a large crowd standing among the National Mall. Another
place in D.C. that I enjoyed viewing was the Department of Justice. At
the Department of Justice I was pleasantly surprised to see that their
offices were in need of business students as employees. This is not too
much of an interest but I believe it would be a great experience to
have.
On the contrary New York City had a community that was more
conducive to the type of business world I see myself entering someday.