Vietnam-Born Thao My Tran, ICEF Graduate 2022: “Through Thorns to the Stars”
- My, I know you wanted to pursue a career in medicine. What made you change your mind and choose ICEF instead?
That’s right. My initial choice was medicine, but at some point I realized economics and finance looked a far better choice in terms of study time and career prospects.
And the only school I wanted to study economics and finance at was HSE. Of all the BSc programmes on its website, ICEF’s one looked the most attractive. First, because it was identical to the degree taught at LSE, one of the best schools in the world. Second, because it offered the possibility of doing a double-degree with University of London. These two factors acted as decisive in my choice of the degree also because I had a plan to continue my studies abroad.
So I went to ICEF Open Day, talked with its students, and that helped me finalize my choice of school. I did realize it wouldn’t be easy here, but I was prepared to take this risk.
- What was your admission process like?
The admission paths were two: internal examination for international students or the Unified State Exam. I chose the internal exam. It allowed early admission in April.
To prepare for the entrance tests in math and English – a process that took me about one or two weeks – I used the mock tests that were available on HSE’s website. I passed them successfully and was admitted to ICEF at the age of 16.
- Which courses did you enjoy the most?
Asset Pricing, Financial Intermediation, and Quantitative Finance. I very much liked the way they were delivered. And because most of the seminar teachers in ICEF combine teaching with jobs in the industry, they would often show us how a particular topic was helpful in the real world. Along with this, there were plenty of practical projects for the students to level up their skills and knowledge.
- Can you share your memories about the academic life and vibe at ICEF? What do you remember best?
ICEF has a revved-up atmosphere, with no room for slack. Diamonds are made under pressure, as the saying goes, or, using its Russian counterparts, “through thorns to the stars” or “no pain, no gain”.
The learning environment is excellent in ICEF. We had the reading room for ourselves, with a huge selection of scientific literature, and the co-working space. The time we spent there trying to make out the difficult topics together is one of my warmest memories of ICEF. That and how we’d sit up late in the Pokrovka campus, preparing for the exams until 11 p.m.
What I’d also like to mention is the seamless work of the Studies Office and how promptly they handle student issues. Now a master’s student of a different faculty, I often feel nostalgic for their kind support.
- Was it easy for you to fit into the student life? What seemed to be the hardest part?
The hardest part was my first year. I entered with no background in economics and therefore had to start from the very beginning. But, thanks to the office hours where I could ask all my questions, the process turned out to be less stressful than it could have been.
I enjoyed a vibrant campus life. In my second year of study, I joined multiple student clubs and case championships, and, to top it all, in the end of my third year I started a job in a bank and at ICEF Laboratory of Financial Economics.
- Can you tell more about the student clubs and case championships?
One venue I was contributing to was IES Evening School, where my role was to help 9-11th graders familiarize with ICEF by organizing case study sessions and career guidance in the summertime and which offers lectures by field experts and case solving sessions from the partner companies. Also, I was a member of Keystone, a student club that organizes career events. Every year, the Keystone Career Forum that we organized brought together more than 500 students and the country’s top employers.
Also, in my free time I would take part in case championships. The one I remember most is Beyond Dreams. I was among the 50 contestants who entered its final stage, which involved staying in Skolkovo for a week to develop the M&A strategies for Ozon. We presented our proposals to the judgement of the CEOs of some of the largest investment banks.
- At what point did you decide to start looking for a job to jumpstart career and how did you go about it?
In my first and second year, I went to the career events organized by HSE University and ICEF Career Services to get a better understanding of where I wanted to be professionally. It wasn’t until my third year that my job search entered an active stage. And it was at that same time that I joined ICEF Laboratory of Financial Economics as a research intern, engaging mostly in sourcing, exporting and organizing research data.
- Can you share your experience of how you got your first job at the bank? I bet it wasn’t easy.
My first job was in Raiffeisenbank’s Investment Banking Department (IBD), where I dealt with securitization. Getting that job involved several rounds of interviews. One of them was the 4-hour-long candidate assessment. Among the applicants were master’s students from other universities, and I worried I would not get the job because I’d only completed three years of study. But in the end I was the one who got it.
Thanks to the knowledge that I gained at ICEF, I felt quite comfortable with my job in IBD. I even got promoted from intern to junior specialist in just six months.
After completing my bachelor’s degree, I had the opportunity to do a master’s abroad, but I chose to do it here in HSE, working my job at the bank and lCEF Laboratory of Financial Economics in parallel.
- You’re still in banking. Which courses have been most useful in your job and what are your job responsibilities?
I am currently working at Sovcombank in Capital Markets Department. My job responsibilities encompass securitization services and structuring. Securitization is generation of bonds backed by the proceeds from assets that can generate stable cash flows. I basically deal with building models for securitization and structured finance (underlying asset flows, stress testing, etc.), structuring, post-issue services, and reporting analytical findings.
And since securitization is often used by banks as part of their risk management strategies, I rely a lot on what I learned from the Financial Intermediation course. Especially its part that teaches Basel and RWA calculation. Another course I use a lot in my financial modeling is Corporate Finance. Also, ICEF offers useful courses that teach Python and applied banking. I often apply the skills and knowledge from them in my work.
- What would you advise international students to pay special attention to while preparing for the admission and study at ICEF? Any life hacks to share?
Admission: Use the mock tests available on HSE’s website when preparing for your entrance exam. My advice is go through all of them. School knowledge alone doesn’t suffice to pass the entrance tests successfully.
While a student: Do all homework and study for seminars. When something is unclear, go to office hours. They are the extra classes designed for the professors to answer all your questions.
A life hack: Get together for exam preparation. My experience is that retention of information is facilitated best during a group discussion.
- What is your most important takeaway from ICEF?
Knowledge-wise, at ICEF I learned everything there is to know about finance. Its programme does offer all resources for students to build successful careers in finance.
When it comes to personal qualities, I am now a more persistent, disciplined person and a better teamwork who knows how to adjust to new environments.
- Do you have any passions or hobbies?
I have a passion for Pilates and functional workouts. I do them every week. Also, I am a big fan of hiking and DIY clay dishware.
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