Alumni Spotlight: Greg Gerstenhaber, Class of ’97 – Partner at Bain & Co.

Greg Gerstenhaber is a partner in the Dallas office of Bain & Company. Greg graduated in 1997 with degrees in BHP and Finance and joined Bain immediately after graduation. He has been with the company for 16 years now and his experience includes airline, automotive, defense, construction, retail, manufacturing, and waste management. Most of his recent work has been in the industrial practice covering strategy and performance improvement. We visited with Greg to hear more about what he is doing now.

Tell me about your career progression coming up to what you are doing now.

I started with Bain as an associate consultant right after graduation. I did that for three years, then left for two years to get my MBA from Harvard. My business school tuition was paid for by Bain with the expectation that I would come back, and I did. When I returned, I was a consultant for two years, then was promoted to a manager and did that for four years. I was promoted again in 2008 to partner. Now my time is mostly spent on strategy work as well as performance improvement.   I also lead our MBA recruiting efforts for Texas as well.

You consult with a number of different industries. Which type of industry do you enjoy working with the most and why?

There isn’t any one industry. I have the most fun when I am working with industries that are going through a lot of change and the work we are doing has significant impact on our client’s business. In 2008, I was working with home building and there was so much change taking place with home prices falling dramatically that it was really challenging and exciting work.

What is most challenging about the work you do?

It is fast-paced. It is always a challenge to learn a new industry. To learn a new industry you have to really dig into analyst reports and other industry materials to try to absorb as much knowledge as possible. We have found over time that one of the key ways of delivering value to clients is integrated expertise. By being able to work in different industries and different types of companies, we develop our expertise in a certain industry, but we also bring new ideas and perspectives from having worked with other industries and clients. There is a threshold level of expertise that we bring to a client, but we also know that we create a lot of value by bringing a broader perspective to the table.

How do you approach the strategy work you do?

We have a tried and true approach that we use for strategy work. We start with the same core sets of tools. We first make sure we understand the current situation and have a data driven factbase.  . We then work closely with our clients to identify strategic options and then evaluate them with data. We will come up with a hypothesis of what the answer might look like, then collect the data and do the analysis to prove or disprove the hypothesis.   Through all of this, we use a methodology called “profit from the core”. Companies should define and understand what their core is, and look for opportunities that are as close to the core as possible. We have a very tried and true core strategy approach that is very effective at creating value for our clients.  .

How can students prepare themselves to do something similar to what you are doing?

We look for people who are passionate about what we do and have a track record of being challenged and doing well academically. We also want people who have been involved on campus and have taken on leadership roles on campus. Strong analytical skills are important in this job.  We utilize a case interview method which is a very effective way for testing fit for the associate consultant job.

How have things changed at Bain over the 16 years you have been there?

I will tell you what has and hasn’t changed. What has changed is that we have grown at a very high rate. We are substantially larger now vs when I started in 1997. We have probably grown about 10 percent a year since I started working here. We have also moved towards more of a practice area focus. We have developed and advanced IP, while still enabling people to have a variety of work experience. The biggest thing that has not changed is our core mission and our core values of how we work with and deliver for our clients. We take the time to periodically reevaluate our mission and priorities, but we always come back to the same core set of values.  Our business is all about our ability to deliver for our clients and help them to achieve results.  Our entire DNA as a firm revolves around that.

The one constant at Bain no matter what level you are at is that you will always feel challenged.  The type of work you do and roles and responsibilities will change overtime. I am less involved in the analytics and spend more time with the actual clients now. Someone coming into Bain could expect that their responsibilities will continue to grow over time, as they have for me.

How do you think your BHP education prepared you for what you are doing now?

I think it prepared me really well. The emphasis on case studies really helped to lay the ground work for the variety and the types of cases I see. The curriculum was challenging and it prepared me well. BHP has so much respect within Bain. We know that people in BHP are being prepared well and coming from a respected program. The program has benefited me in such a tremendous way.  We are truly excited to come back to campus each year and meet the BHP students.

Do you have any regrets from your time on the 40 Acres? Anything you wish you would have done differently?

I wish it didn’t go as fast as it did! I feel so fortunate to have been in the BHP. I was really involved in the business council and was president of that my senior year. I was in HBA and the Cabinet of College Councils as well. These experiences were incredibly valuable to me and gave me real practical experience in working with teams to accomplish something. It was also just a lot of fun. I made friendships that have really stayed with me.

I have had a lot of good networking opportunities with my BHP classmates since graduation. When I started by MBA at Harvard, there were a couple BHP grads there who I connected with. I have also kept in touch with BHP grads in the Dallas area who are in prominent positions that I can call upon when I need advice or help.

Do you have any advice for current students?

Your time in the BHP is one of the best times you will have to learn. Take advantage of the variety of great learning experiences you get to have. Get involved in various activities on campus and have fun.

Alumni Spotlight: Susan Pettit Thomson – Class of 1999

Susan Thomson, BHP ’99, co-founded and co-produces FilmMatters, a film dialogue series that focuses on the use of film to encourage social change.  Susan spent over 12 years as a media consultant, with roles in strategy, operations, and distribution at Warner Bros., Sony Pictures, Andrew Lloyd Webber’s “Really Useful Group,” and the BBC before co-founding FilmMatters.

 

 

You didn’t begin your career in the entertainment industry. Why did you decide to venture into it?

It was a progression. My first job was in New York City at Lehman Bros. When I was at UT, I minored in Classics and Art History, so I decided to take an internship with a museum on the weekends. I knew I loved both art and business, and soon realized that a better merge of the two disciplines actually existed in the entertainment industry. I decided to move to Dallas to work for Arthur Andersen’s Consulting arm, and started learning about the work we did for entertainment clients. I also volunteered with a Film Festival in Dallas during my spare time, and I loved it. My mentor suggested that I move to Los Angeles and work for a studio if I really wanted a career in the entertainment industry. A connection from the Dallas Film Festival helped me get my job in LA.  After 5 years in LA at Warner Bros. and Sony Pictures, I decided I wanted to move to London and I thought consulting would be a good way to put my core skills to use and develop as a Manager.  I got a job with Deloitte Consulting with the help of a strong referral from a friend I’d met back at Arthur Andersen training 6 years before. During those years that I was in LA and then in London, I continued to do projects with the people I had met through the Dallas Film Festival.  I produced some events for them and helped bring a few films to the festival. When I moved back to the States in 2010, I started FilmMatters with one of the women I’d been working with on and off for 10 years.

Tell me more a bit more about FilmMatters.

My friend Melina McKinnon and I started FilmMatters because we just love filmmakers that are trying to change the world for the better.  For years, we had both been counseling super passionate filmmakers who often had a nearly completed film but had no clue about distribution options or how to take that film through the system and actually achieve their desired impact. Sometimes they hadn’t even defined the impact they wanted so there’s your first problem. I think the root of a lot of missteps – especially for young filmmakers – is just a lack of education.  The film industry is deliberately opaque, so that’s not surprising.

Our team decided to put together panel discussions that deal with what we call “Movies with a Mission” and stated key goals “To educate, entertain and inspire”.  We bring in people like PBS execs, TV and Film Producers and Filmmakers ranging from novice, to Oscar nominated Directors to share their experiences and offer advice.  We just had our 3rd event last week at the Dallas International Film Festival and each one just gets better.

You have had many different types of roles in your career. What skill sets do you think have been most transferable?

I think the ability to listen and dig down into the detail to find the source of problems is one of the best skills I’ve honed and put to use in a variety of situations.  A lot of times you discover that a problem is people-related instead of process-related and if you want to fix something, you have to sell the person on “the new way” and make sure they are capable of doing it.  The other obvious one is project management and people management.  Last week one of our great interns thanked me for giving him context about what his tasks, which are fairly dry, would be used for. I had great managers along the way reinforce things like that.

How did your career changes come about? Were they intentional, or were they more related to opportunities that came your way?

They were all very intentional. I thought a lot about what I wanted to do next and I always had a through line in terms of my actions and goals.  Working at a bank, I realized I would be better in consulting, learning transferable skills. I wanted to understand the business of making films, so I moved to an entertainment company. At this point I had a team working for me, but not much skill at how to manage teams. I still wanted to work in the entertainment space, but I also wanted to learn to be a better manager, so I went back to consulting in the entertainment industry. That job was always going to be for a short period as an opportunity to transition. Once I had my first child, I wanted the ability to choose my projects and be involved in the creative side of the business.  By then I had built the reputation and skill sets I needed to do just that. Each move I made was because I wanted to round out my skill sets or work in a specific industry.

Which project or job have you enjoyed the most?

Working for Andrew Lloyd Webber’s “Really Useful Group” was possibly my favorite role. It was so intensely British. My job there was what I know how to do best. I was the jack of all trades project manager and I diagnosed problems and fixed them. Musical theater is like nothing else; you encounter very interesting, passionate personalities. I was the middle man between creative and business types, which I really enjoyed. Andrew Lloyd Webber was producing music for Phantom of the Opera 2 in the next room, so that was really amazing, and I got free tickets to all the shows!

What advice would you offer current students?

Do something in your spare time to learn more about an industry you enjoy. When I left Arthur Andersen it was 2001 and a manager I knew told me he didn’t understand why I would leave such a secure job on a wild hair. Three months later Enron exploded, and a lot changed for everyone at that firm.  If you aren’t enjoying what you are doing, don’t stay where you are just because you think it is a sure thing, because it may not be. Nothing is anymore.  Push yourself in that first job as hard as you did when you were a student. You are never going to have less responsibility than at the beginning of your career, so it is a great time to pour your energies into work and build a solid reputation. That said, set goals for yourself outside of work and don’t lose that other part of your life. Whether it be physical goals, travel plans, learning a new language, or something else, just don’t lose the other layers that make you fulfilled and stimulate you. In every job you do, if you see your boss’s job and don’t want that for yourself, then you are probably in the wrong place. As long as you know you are only there for a short period of time, it is okay, just make sure you know your exit strategy.  One of my greatest friends in BHP, Carrie Rippstein Show, sent me an email that first year of work when I was an analyst and absolutely in the thick of what felt like complete drudgery – long hours of detailed boring work.  Of course I now realize the skills I learned on that job were very important and helpful later, but none-the-less, it was a tough time.  The email included a quote that said, “He who masters the grey every day is a hero.” I really loved that line and it got me through some long afternoons.

 

Alumni Spotlight – Robin Boesch, Class of 2000

Robin Boesch, BBA ’00, transitioned from trading NASDAQ stocks in New York City to owning her own successful retail business,  y&i clothing boutique, with locations in Austin, San Francisco and Dallas. Robin never imagined that she would leave Wall Street to venture into retail, but loves owning her own business and growing the y&i brand. During her senior year, Robin started the BHP Make-a-Mark campaign and has remained active with the BHP since graduation, serving on the BHP Advisory Board for many years.

 

 

BHP: Tell me about your career path leading up to what you are doing now.

RB: I graduated with a Finance and BHP degree in 2000. I interned for two summers with Goldman Sachs. The first internship was with the real estate private equity group in Dallas after my sophomore year. After my junior year, I interned at the international trading desk in New York City. Goldman offered me a full-time position, and after graduation I moved to New York and worked on the NASDAQ trading desk.  I spent six years there as a trader, trading all versions of NASDAQ tech stocks including semiconductors, software, and hardware. After three years I was promoted to Associate and after five years I was promoted to Vice president. I also helped run the UT recruiting team during that time.

My last year there I was thinking about trying something else. I think there are pockets of opportunity in life and I felt like I was in one since I had made enough money to have financial freedom and I didn’t have anything tying me down. The timing was right to try something different. One of my  roommates in college, Robyn Sribhen White, and I had always talked about owning our own boutique. She went out to the West Coast after graduation and worked in retail and was doing well in that realm. We spent about 6 months coming up with a business plan for our own retail store and modeling out how our business would work. Once we decided to do it, I left Goldman and spent some time in New York and Europe, just enjoying life. Then I moved out to the West Coast, and our first location opened in October of 2006 in San Francisco. After a year we opened two more locations, one in Palo Alto and one in Austin. We ended up closing the Palo Alto store because it wasn’t the right market for us. I moved back to Austin in 2009. In 2010 we launched our online business and in 2012 we opened a Dallas store. We are now re-launching our website and are looking at additional locations in Texas.

BHP: How did you first get connected to Goldman Sachs?

RB: I had an officer position for HBA and it was my job to contact companies to speak to our members. I reached out to Goldman and built a relationship with a BHP grad there named Michael MacDougall. He told me about the internship in their Dallas office and I ended up landing the position.

BHP:What was the best and worst thing about working on Wall Street?

RB: The best thing about it was that it was so exciting. It was crazy every day. I also loved the amount of responsibility I was given right away. The NASDAQ market was going crazy in 2000, so it was sink or swim. They needed people to jump right in. If I had to pick a worst thing, it would probably be the “Type A Wall Street” personalities that you encounter. I really loved it though and only left because I wanted to do something else.  Goldman was an amazing place to work and if I had to do my life over again, I would do it exactly the same way.

BHP: How did you decide to get into the retail business?

RB: I never thought I would own my own clothing boutique. I thought I would  make partner at Goldman and stay there forever. But one day, along the way, I realized there were other things out there I wanted to do.  Being an entrepreneur is extremely interesting, it doesn’t matter what you sell, it is more about running your own business. I have known my business partner since I was 15, and I love working with her. We both just wanted something that offered more flexibility than our current jobs and we were ready to try something different.

BHP: What are your plans for y&i in the future?

RB: We would like to expand our current stores in Texas and are thinking about doing a concept store in California for shoes & jewelry. We also want to grow our web business, since e-commerce has been growing at such a fast pace.

BHP: Do you have plans to delve into any other retail markets with another store or brand?

RB: I have learned a lot about jewelry designers and clothing designers and there are always opportunities to invest in other businesses or partner with people on the design and production side. We are thinking of partnering with one of our current jewelry suppliers to help her grow her business. We bring our expertise of how to grow and run a business to designers and they supply the creative expertise. It is a bit like being a private equity partner because you are investing in others who have potential and helping them grow their business.

BHP: What do you sell the most of at your stores?

RB: Our current number one brand is actually a jewelry designer from New York. We also, of course, sell a lot of clothing including brands like Billabong, Joe’s Jeans, Yumi Kim, and many more. We pride ourselves on the fact that you can find an entire outfit for under $300 at our stores. Fashion is about expressing yourself, having fun, and building outfits, so we want to help our clients do that. We sell expensive and inexpensive merchandise together so that you can create a unique look without breaking the bank. Our aesthetic is based on a California casual girl, which is a combination my style and that of my business partner.

BHP: Have you enjoyed being an entrepreneur?

RB: Being an entrepreneur is incredibly rewarding but it also has its ups and downs.The best thing about being an entrepreneur is that your time is your own and you get to do what you want, when you want. The downside is that there is no one above you to learn from because you are your own boss. My advice to entrepreneurs would be to find a business partner and look for mentors. I can’t imagine doing it without Robyn because working together makes the workload so much more manageable.

BHP: You started the BHP Make-a-Mark campaign in 2000. What prompted you to do that and why is it so important to you?

RB: The MBA’s were doing their Legacy campaign and I didn’t understand why we didn’t have one for BHP, so I thought it would be great to do something similar for the undergrads. The first year was successful, we had 98% participation and it brought the class together. I thought it was great that the funds would go towards merit-based scholarships, which have always been a big need for the program. Most of the scholarships offered at UT when I was there were only need-based and not merit-based, which made it less competitive for us to get the best students. Since then, I have stayed involved to try to help keep it going. At my 10-year graduation anniversary, I came up with the idea to add the alumni component and ask alumni to match the amount being raised by students. I am always trying to think of new ways to get alumni involved in giving so we can get the top students and make our program as prestigious as it can be.

BHP: Do you have any advice for current students?

RB: What you pick to do when you graduate doesn’t have to be what you do the rest of your life. That is hard for graduating students to understand, since their focus is often so narrow. They need to realize that there will be plenty of opportunities to do new and interesting things along the way. Also take as many elective courses as you can and study abroad. You will never get another opportunity to be in college again and have time to take classes that interest you. Explore  everything and use the university while you can.

BHP Alumni Spotlight: Savitha Bonthala – Class of 2008

In June, 2008 BHP alumnae Savitha Bonthala, will receive a doctor of osteopathic medicine and a master’s in public health degree from the Touro University College of Osteopathic Medicine. Her involvement with the American Medical Women’s Association over the past few years, has allowed her to travel to Uganda to help deliver medical aid. We recently visited with Savitha to learn more about her experiences in global healthcare, and what she has been doing since graduating from the BHP.

How did you become interested in going into the medical field?

What got me interested in medicine originally was my interest in global health. I was born in India and raised in the United States, and when I went back to visit seeing the poverty there was astounding and I felt a calling to work in global health.

What is osteopathic medicine and what do you hope to do with your degree after graduation?

Osteopathic Medicine (DO) is similar to Allopathic medicine (MD) but in osteopathic training, you also learn how to use your hands to diagnose and treat different chronic, or acute issues of the body. We focus on treating the whole patient, in terms of body, mind and spirit. It is a holistic and comprehensive approach to treating a patient. In addition to a holistic approach, I would like to do more public health work, especially in terms of education and children, because that is where I think I will make the biggest impact.

What have you been working on through your involvement in the American Medical Women’s Association?

We promote gender equality and medicine and I am in a fellowship through the association. I am currently the Global Health Chair for the association, so I help promote and expand global health opportunities for students who are members of the association. I am currently one of eight female medical students chosen from across the country to participate in the Anne C. Carter Global Health Fellowship. I was granted the fellowship in 2010 and will remain a fellow until I graduate. It has allowed me to travel to Uganda in February 2012. I went to Uganda for two weeks and worked in a small primary care clinic. I treated people of all ages, from infants to those who were well into their 90s.

What kind of health issues were you seeing frequently?

We had a lot of children with malaria come into the clinic. It was our number one pediatric diagnosis. Because of the enormous impact of malaria in the community, we went out to the village and spent time educating children about the disease. Children can get malaria anywhere from three to five times, or more, in their lifetimes there. It is one thing to treat the malaria, but another to also educate, so that we don’t have to treat as many cases. I spent a lot of my time educating people. I loved the work I was doing.

We also treated a lot of chronic issues such as hypertension, diabetes, etc. which was at times frustrating because if they had access to a primary care physician sooner, their problems would have been more controlled. With limited access to resources and considerable financial constraints, most patients came to us when their disease was very advanced.

Most people in the village don’t even have access to running water or electricity coupled with very little help from their government. In the United States we see what our government does for society in terms of health care and education. When you go abroad, you see what can happen without that support and it is very disheartening. In Uganda there is no public school system and most of the children don’t have adequate access to education.  To help a group of people you need to address both education and healthcare. Without addressing both, you can’t help a group of people.

Do you have any advice for current students interested in medical school?

I took opportunities in school that made a difference in the community and that has made a difference in my path. I volunteered because the concept of helping others was paramount in my life. Becoming a healer was my ultimate goal. However, getting into medical school was really difficult for me. I was rejected by a lot schools, but I took the initiative to reach out to the school I really wanted to go to, and let them know how interested I was, and I got in. Be open to where life may take you and you will be pleasantly surprised. When one door closes, another one will definitely open.

Alumni Spotlight: Neel and Bridgette Naik Make Strides in AIDS Care

BHP husband and wife duo Neel and Bridgette Naik have taken a different route from many of our grads and are making strides in the arena of AIDS care in Africa. Neel, BBA ’05, a doctor, and Bridgette, BBA, MPA ’06, an accountant, moved to Tanzania earlier this year to work for the Baylor College of Medicine International Pediatrics AIDS Initiative (BIPAI). Bridgette helps run the business side of the clinic in Tanzania, and Neel is one of the physicians there. We caught up with the two of them recently to learn more about how their work is going.

Tell me a bit more about what each of you are doing now.

Bridgette: I do some finance and accounting, as well as budgeting and grants for the clinic. I also deal with a lot of HR and management issues. Before taking this job, I worked in public accounting as an auditor for about 5 years. I was working a lot and wasn’t happy. I wanted something more fulfilling and then I found this job with BIPAI and have been there over a year now.

Neel: BIPAI sends doctors from the U.S. to clinics in Africa, so I am working for a clinic in Tanzania. I provide care for children with HIV. I also train general practitioners there to support the clinic. During my residency I completed an elective with the organization while Bridgette was searching for non-profit jobs. She found a position with the organization, which she knew about from my rotation. It was great how it worked out, because we were both able to come for our jobs.

How has it been for you being partners in life and in work?

Neel: It is nice. We’re able to have lunch together.. We drive to work together. We don’t have too much direct work interaction, but we get to see the clinic from different vantages, which is interesting.

Are you ever at odds with each other on matters regarding the clinic where the medical needs may not align with the financial and business needs?

Bridgette: Not really, but there are times when Neel can provide insight into issues I face. Patients are always asking for things, and Neel can fill me in on if they really need them and their availability. Neel is always looking for how to start new initiatives for better care, but I manage our budget and have to be mindful of operating costs and salaries.

Why were you drawn to AIDS work?

Neel: We were drawn to the opportunity to travel to a country that needs help and has a big need for medical care. It has also been interesting to learn medicine in a different setting. In the U.S. we have so much technology at our fingertips. It isn’t like that here. For example, here we only have X-rays, we don’t have CT scans. I think that has helped me grow my skills. I also see diseases I would never see in the states. It is a good cause and our work does make a difference; it gives kids access to care and medicine that can help them live a healthy life. I feel good about myself every day, since I am working towards making a difference in the AIDS epidemic.

Your resume says you work with around 700 HIV infected children. That is a staggering number. What is that like for you?

Neel: The number is closer to 1,000 now. There are 160,000 children infected with HIV in Tanzania. Of those, only 17 percent are on medications, either because they don’t know they are infected or do not have access to medications.  Also only 59 percent of mothers are receiving medications to prevent transmission to their babies. Here there is just not much access to care. We have a lot of work to do, but that is why we are here. We have a big team here with two clinics. I see about 10-15 patients a day. The patient cases are more complex and take longer, so that is why we can’t see as many patients each day. We also focus on the whole patient, not just HIV, but everything. We have a social worker and counselor. It’s tough because death is more common here and the public hospital is pretty inefficient and isn’t the level of care I am used to. I am one more doctor in a county that doesn’t have that many, which helps. I do really worry about my patients. These are very sick children.

What are the difficulties and frustrations of practicing medicine in Tanzania?

Neel: The social aspect of medicine here is dire. Many of our children live with other family members because their parents have died. Some of those caretakers are good but others are not. There isn’t child protective services here. Finances play a big role: not only does it prevent some patients from furthering their education, but it also may jeopardize their health. Sometimes parents can’t afford the medicine a child needs, or even the proper food to help them grow. This is mitigated for our patients by our clinic because it provides all its medicines for free and also provides Plumpy Nut to patients who are severely malnourished. However, if we don’t have a medication in our stock that is needed, then it is up to our personal donations. For example $350 pays for an entire chemotherapy regimen for Kaposi’s Sarcoma, but for most people here that is unaffordable. And it seems silly that a child’s cancer can’t be treated because of $350. Having said all that, with all the lows, there are also ups. We have a dedicated staff, a teen club support group, and a program called Stitch by Stitch that teaches girls from our clinic how to tailor bags and run a business. I can honestly say that we have saved the lives of dying children, which unlike shows such as ER or Grey’s Anatomy may make it seem, doesn’t happen every day. So overall for all its frustrations it is equally inspiring. With all the problems we face, at least each day we make progress and move forward.

What is daily life like for you guys now?

Bridgette: First, Tanzania is a beautiful tropical country. The Serengeti National Park is only a 2 hour drive from our house, so we’ve been able to go on a few safaris. We can see Lake Victoria from our porch and the scenery is very pretty. Driving here is crazy. There are carts, people, potholes, and motorcycles everywhere. There are about 1 million people here and there are only a couple ‘grocery stores’ with limited items from home that are very expensive. The other day we bought a bottle of syrup that was about $8, but well worth it for our pancakes. We do most of our shopping at an outdoor market and that is definitely more interesting and lively than HEB. Since there isn’t much to do in town, like there isn’t even a movie theater, we spend a lot of our free time swimming, reading, cooking, and talking to our family on Skype.

Any advice for current students or things you wish you had known?

Bridgette: You can apply the skills that you have learned in BHP in a variety of occupations. Think outside the box about how you would like to contribute to society. You probably have the skills to make your passions into a career. You never know where you will end up. Although your first job may not be the one you have forever, you will learn a lot from it.

Neel: I still remember my TA in BA 101 told our class that our future jobs should be a balance between our interests and passions, money, and life. That balance is different for everyone and you have to find what works for you. Find your balance and you’ll be happy.