Stepan Labudin, who earned his master’s from ICEF in 2022 and is currently a Yakov and Partners consultant, started studying economics after completing his sporting career. Here’s how Stepan started to major in Finance with no previous training, what makes consulting the best field to start career in, and which courses come most useful in the work of a consultant.
About admission to ICEF
I have been doing taekwondo since I was 6. Won my first championship at 16 and got invited to the national Olympic team, so my undergraduate study at the Bauman Moscow State Technical University was more of a formality. But, at the age of 22 I realized how fleeting sporting careers are and that I had to learn something else. That made me start my search of a new career path. Finance looked an interesting choice. And because I was good at English and math, ICEF and its master's programme seemed like a perfect fit. What also played a role was ICEF’s high international rankings, recognition by employers, and English as the language of instruction. I wanted to get solid theoretical training and immerse myself into a world with opportunities and prospects I was completely new to.
My careful preparation for admission – I read all the sources on the recommended literature list – wasn’t in vain, I got admitted. Since most of the courses require solid math skills, working on math had been the most essential part of my preparation. I can’t say I suffered any major learning challenges here. The programme isn’t easy, true, but if you do your homework and attend all your classes, you stand a good chance of doing well in all your courses and score high in the exams.
About getting started in consulting
After the first year of my master’s study I passed the interview at McKinsey and was hired for a summer internship. After that, starting from the fourth semester, I was able to combine study with work.
It wasn’t until later that I realized how enriching the consulting experience is for an early-career specialist. Consulting is one of their most benefitting areas to start career in, and the reason is fast growth.
In consulting, you get involved in solving vital tasks and get to lead the vital parts of projects already in the role of an intern. With these responsibilities, you are more than motivated to learn and grow fast. What is more, you find yourself among talented, ambitious people with different backgrounds and competencies, who you can always turn to for advice and opinion.
As someone who combined study with work, even if briefly, I can safely say that everything I learned at ICEF has proved very useful in my job as a consultant. One thing I benefitted greatly from was the electives – Investment Analysis, Corporate Valuation Cases in Mergers and Acquisitions, Private Equity and Venture Capital. Theoretical courses such as Micro- and Macroeconomics – the programme pays special emphasis on theory – had given me sufficient understanding of the economic processes. Once you’ve learned these courses, the world of business will be much easier to navigate and you will know “where to head to and what terms to think in” to achieve your personal goals and do it confidently.
About the importance of making connections
Meeting interesting people had been the biggest highlight of my student life. If it wasn’t for the people that I met here, especially my classmates, I would’ve had much tougher time filling my knowledge gaps because finance wasn’t my original major. By bringing me up to date on labor market trends and what candidate selection is about, they actually helped me get my career started. Now as an employee, I know I have someone to turn to for expertise in the industries I have little experience with.
