My experience as a junior consultant in a communications agency

In this article, Margaux DEVERGNE (ESSEC Business School, Global BBA, 2020-2024) shares her professional experience as a trainee in Angie, a communications agency in Paris (May-August 2021).

About the company

Angie is a distinguished French communications and influence agency based in Paris, recognized for its comprehensive and innovative approach to brand communications.

Founded in 1988, Angie initially started as a press relations agency. Over the years, it has expanded its scope to provide a broad range of communications strategies and support for brands across various industries. This evolution reflects Angie’s commitment to adapting to the changing landscape of communications and influence.

Angie positions itself as a “co-influence and engagement” agency, offering an extensive array of services. These services encompass media relations, crisis management, public affairs, social media, influencer marketing, and data intelligence. Additionally, Angie excels in editorial services, including content creation, storytelling, website content, and reporting. The agency also specializes in internal communications, conducting audits, managing transformations, and producing internal magazines and newsletters. Furthermore, Angie offers expertise in corporate social responsibility (CSR) communications and business to business (B-to-B) marketing, providing content marketing, thought leadership, loyalty programs, and social selling. Their capabilities in user experience (UX) and technology, including search engine optimization (SEO) and website/app development, further enhance their service offerings.

With a team of around 60 employees (in 2020), Angie adopts an integrated approach that covers strategy, creative services, production, and execution across multiple channels (LinkedIn, Twitter, Instagram, newsletters, etc.). Angie adopts an integrated approach that covers strategy, creative services, production, and execution across multiple channels to ensure a coherent and effective campaign. This holistic methodology ensures that clients receive tailored and effective communication solutions.

Angie boasts a diverse portfolio of clients from various sectors. Well-known clients include La Poste, the French postal service, and Pôle Emploi, the French employment agency. This diverse clientele underscores Angie’s ability to cater to different industries and their unique communication needs.

As an independent communications group headquartered in Paris, Angie has expanded its capabilities by establishing subsidiaries such as Angie Edition, Angie Interactive, and 35 Mai Productions. These subsidiaries enable Angie to offer in-house content creation and production services, further solidifying its position in the market.

Although specific financial figures are not publicly available, Angie’s reputation in the French communications industry speaks volumes. The company is known for its innovative and integrated approach to brand communications and influence, establishing itself as a reputable player in the industry.

Logo of the company.

Source: Angie.

My internship

As a junior consultant trainee at Angie, I have been fully immersed in a dynamic and creative environment at the core of multidisciplinary teams. Each day, I collaborate with strategists, creatives, digital experts, and press relations officers to develop innovative 360° communication strategies for high-profile clients. My responsibilities include content curation, social media posting, weekly monitoring, newsletter writing, and performance analysis (a systematic approach used to evaluate the effectiveness and efficiency of various processes, projects, or systems within an organization). I conduct in-depth market research, analyzing online trends and conversations to uncover relevant marketing insights. Additionally, I actively contribute to the design of impactful marketing campaigns by proposing creative concepts and producing compelling editorial c (for instance newsletters, monitoring, etc…).

This internship provided me with the opportunity to develop cutting-edge expertise in the fields of influence, digital marketing, and public relations. I am gaining insights into the latest crisis management and brand communication techniques (brand messaging, visual identity, social media engagement, public relations…). Most importantly, I benefit from the personalized support of experienced consultants who generously share their expertise. Their sound advice and considerate mentoring guide me through my training at this prestigious agency. Each day presents a new opportunity to learn, grow professionally, and prepare for future challenges in this exciting sector.

My missions

As a junior consultant intern at Angie, my mission involves engaging with major business to business (B-to-B) and business to consumer (B-to-C) accounts in the luxury, lifestyle, care, and travel sectors. My responsibilities include curating high-quality content and writing tweets and LinkedIn posts for prominent companies. I am also learning to navigate and utilize the Sprinklr platform (a comprehensive customer experience management (CXM) platform designed to help businesses manage their social media presence, marketing, advertising, research, and customer service across various digital channels) effectively. Additionally, I am strengthening my skills in using X (Twitter), LinkedIn, and Canva to enhance digital communication strategies for our clients. This role allows me to contribute to the development of impactful social media content while gaining valuable experience in digital marketing and client engagement.

Required skills and knowledge

In my dynamic role as a Junior Consultant at Angie, I quickly realized the extensive range of responsibilities and the continuously evolving skill set required. Central to my role was mastering the art of communication, both written and oral. Whether crafting newsletters, coordinating with media personnel, or pitching new ideas, my goal was always to achieve clarity and resonance with the audience. It was crucial to adapt my tone and style to fit the specific audience and occasion. For example, my main clients were Orpea (a nursing home organisation) and Accor (the hotel group). Their presence on social networks is not at all the same, and neither is the target audience. For Orpea, I had to speak in such a way that families potentially interested in the services offered by Orpea could understand and appreciate the messages transmitted through the posts. On the other hand, the Accord group gave us a lot more flexibility when it came to the visual identity of the posts on social networks, because the target audience is generally young, dynamic and travel-loving.

Effective communication was not just about creating the message; it also involved measuring its impact. Here, data analytics became an invaluable tool. Metrics such as engagement rates and conversion rates provided insights into the effectiveness of our campaigns and identified areas for improvement. As the digital landscape expanded, I deepened my proficiency with tools like Sprinklr to enhance the companies’ visibility in the vast online environment.

A critical aspect of my role was crisis management. While not every day presented challenges, being prepared for them was essential. Specialized workshops in crisis communication equipped me with the knowledge and strategies to handle issues effectively, ensuring the companies’ reputations remained intact. Crisis communication is a critical aspect of public relations and organizational management that involves the strategies and practices used to manage the dissemination of information during a crisis. Effective crisis communication aims to protect and maintain an organization’s reputation, mitigate the impact of the crisis, and ensure transparent and accurate information flow to stakeholders. Key elements of crisis communication include preparedness, rapid response, consistent messaging, and empathy. By having a well-defined crisis communication plan, organizations can navigate crises more effectively, minimizing potential damage and maintaining public trust.

Understanding the essence of the concerned brands enabled me to create cohesive narratives across all communication platforms, fostering consistency and a deeper connection with the audience. The communications field is vast, with each project having its own timelines and nuances. Efficiently organizing, prioritizing, and monitoring tasks became second nature, facilitated by tools and platforms that ensured timely delivery and kept stakeholders informed.

Visual storytelling, a key component of modern communication, often involved close collaboration with graphic designers. A foundational understanding of design tools ensured that our visual campaigns aligned seamlessly with our narratives. Regular participation in industry events kept me connected and informed about the latest trends.

This journey was more than just a job; it was a continuous learning experience, keeping me up to date with best practices and evolving trends in corporate communication.

What I learned

As a junior consultant intern at Angie, a leading French communications agency, I gained invaluable hands-on experience and insights into the dynamic world of integrated marketing communications.

Strategic Planning and Execution:

I had the opportunity to participate in developing comprehensive communication strategies for high-profile clients across various industries. This involved conducting market research, analyzing consumer trends and online conversations, and translating insights into actionable plans. I learned how to craft compelling narratives, position brands effectively, and execute multi-channel campaigns seamlessly.

Content Creation and Storytelling:

Content is at the heart of modern marketing, and at Angie, I honed my skills in creating engaging content tailored for different platforms and audiences. From crafting compelling social media posts and website copy to developing thought leadership articles and multimedia assets, I learned the art of storytelling and how to captivate audiences through creative and informative content.

Digital Marketing and Analytics:

Angie’s expertise in digital marketing allowed me to gain hands-on experience with various tools and techniques. I learned about search engine optimization (SEO), pay-per-click (PPC) advertising, social media marketing, and influencer collaborations. Additionally, I developed skills in data analysis, interpreting metrics, and using insights to optimize campaigns for better performance.

Media Relations and Crisis Management:

As an integrated communications agency, Angie handles media relations and crisis management for its clients. I had the chance to observe and assist in developing press releases, organizing media events, and managing crisis situations. This experience taught me the importance of effective communication, reputation management, and maintaining a positive brand image.

Collaboration and Teamwork:

Working alongside experienced strategists, creatives, digital experts, and public relations professionals, I witnessed the power of collaboration and teamwork. I learned how to contribute effectively in a cross-functional environment, communicate ideas clearly, and leverage the diverse expertise of team members to deliver exceptional results for clients.

Overall, my internship at Angie provided me with a comprehensive understanding of the communications industry, from strategy development to execution across multiple channels. The practical experience, mentorship, and exposure to real-world projects have equipped me with valuable skills and a solid foundation for a successful career in this dynamic field.

Financial concepts related my internship

Budgeting and Cost Management

One of the critical aspects of executing successful marketing campaigns is effective budgeting and cost management. During my internship, I learned how to develop comprehensive campaign budgets, allocating resources across different channels and activities, such as content creation, media placements, influencer collaborations, and event management.

I worked closely with project managers and account executives to ensure that campaigns were delivered within the allocated budgets, while maximizing the return on investment (ROI) for clients. This involved analyzing cost estimates, negotiating with vendors, and identifying opportunities for cost optimization without compromising the campaign’s effectiveness.

Return on Marketing Investment (ROMI)

In the world of marketing and communications, it is essential to measure the effectiveness of campaigns and demonstrate their impact on business objectives. At Angie, I gained exposure to various metrics and analytical tools used to calculate the return on marketing investment (ROMI).

This concept involves evaluating the revenue generated or other business outcomes achieved because of a marketing campaign and comparing it to the total investment made in that campaign. By analyzing ROMI, clients can assess the profitability and overall success of their marketing efforts, enabling data-driven decision-making for future campaigns. During my internship, I assisted in collecting and analyzing data related to campaign performance, such as website traffic, lead generation, sales conversions, and brand awareness metrics. This data was then used to calculate ROMI and provide insights to clients on the effectiveness of their marketing strategies.

Client Profitability Analysis

As a consulting agency, Angie’s success is closely tied to the profitability of its client engagements. During my internship, I learned about the importance of client profitability analysis, which involves evaluating the revenue generated from each client against the costs associated with servicing that client.

This analysis considers various factors, such as billable hours, resource allocation, project complexity, and overhead costs. By understanding the profitability of each client relationship, the agency can make informed decisions about pricing strategies, resource allocation, and client portfolio management.

I had the opportunity to assist in compiling data and conducting profitability analyses for various client accounts. This involved tracking project expenses, monitoring resource utilization, and identifying areas for efficiency improvements or potential scope creep that could impact profitability.

By understanding these financial concepts and their application in the communications industry, I gained valuable insights into the business aspects of marketing and communications campaigns. This knowledge will be invaluable as I continue to pursue a career in this dynamic field, enabling me to contribute to the financial success of future client engagements and agency operations.

Why should I be interested in this post?

If the world of communication within the largest French companies interests you, this post is for you! Through this experience, I realized that a significant amount of work is outsourced to specialists in the field. Combining communication, marketing, and finance primarily revolves around budget allocation and return on investment (ROI). Marketing teams must justify their expenditures by demonstrating the financial impact of their campaigns on sales, market share, or brand valuation. Calculating marketing ROI allows for assessing the profitability of investments and optimizing budget allocation.

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Useful resources

Angie website

Berlo, D. K. (1960). The Process of Communication: An Introduction to Theory and Practice. New York: Holt, Rinehart and Winston.

Entreprise et medias (l’Association des Directeurs et Directrices de la Communication).

Coombs, W. T. (2015). Ongoing Crisis Communication: Planning, Managing, and Responding (4th ed.). Thousand Oaks, CA: SAGE Publications.

About the author

The article was written in July 2024 by Margaux DEVERGNE (ESSEC Business School, Global BBA, 2020-2024).

My experience as an apprentice student in internal audit at Atos SE, during the split of the company

In this article, Margaux DEVERGNE (ESSEC Business School, Global BBA, 2020-2024) shares her professional experience as a part-time student in internal audit at Atos SE, from September 2022 to December 2024.

About the company

Atos SE is a global leader in digital transformation with a rich history dating back to its founding in 1997. The company emerged from a series of mergers and acquisitions, including the merger of Axime and Sligos, which formed Atos Origin. Over the years, Atos has continued to expand its footprint through strategic acquisitions, such as the purchase of Siemens IT Solutions and Services in 2011 and the more recent acquisition of Syntel in 2018. These moves have positioned Atos as a key player in the IT services and consulting market.

Atos offers a diverse portfolio of products and services, including cloud computing, cybersecurity, high-performance computing, and digital workplace solutions. The company is also known for its contributions to the fields of big data and artificial intelligence. Atos serves a wide range of industries, including healthcare, financial services, manufacturing, and public sector organizations, providing tailored solutions to meet the specific needs of its clients.

In terms of financial performance, Atos has demonstrated steady growth. For the fiscal year 2023, Atos reported revenues of approximately €11 billion. The company’s digital, cloud, and cybersecurity services have been key drivers of this revenue. Despite facing challenges in some segments, Atos has continued to invest in innovation and expand its service offerings to capture new market opportunities.

Atos’ share price has experienced fluctuations over the years, reflecting broader market trends and company-specific developments. As of mid-2024, the share price is under pressure due to restructuring efforts and market conditions, trading around €6 per share. The company is actively working on strategic initiatives to streamline operations and enhance profitability, which could positively impact its stock performance in the future.

After a long battle with Czech billionaire Daniel Kretinsky, David Layani, founder of IT company OnePoint, has finally won the battle to take over Atos SE. The Atos Board of Directors chose Layani’s offer, supported by some of the creditors, which provides for €2.9 billion of existing Atos debt to be converted into equity, making the creditors the main shareholders with around 79% of the capital. Onepoint, Butler and Econocom will inject €175 million to take a 21% stake, while €1.5 billion of new debt will be made available to relaunch Atos’ activities. This major financial restructuring will enable Atos to get back on track after months of difficulties.

Overall, Atos SE stands out as a significant player in the global IT services market, with a strong focus on digital transformation, cloud, and cybersecurity solutions. The company’s commitment to innovation and strategic growth positions it well for future opportunities, despite current challenges.

Logo of the company.

Source: The company.

My Apprenticeship

Internal Audit at Atos SE plays a crucial role in continuous process improvement and risk management. This independent and objective service aims to assess and improve the effectiveness of the company’s operations, internal controls and governance. Internal auditors examine financial, operational and IT systems to ensure compliance with applicable standards and regulations. By identifying weaknesses and proposing constructive recommendations, internal audit helps to strengthen the company’s overall performance and ensure the reliability and transparency of financial reporting.

My missions

Within the Internal Audit Group, in an international and evolving context, the missions of the student in Internal Audit are based on 3 axes under the supervision of the Group’s internal control manager:

• Participate in activities to strengthen internal control for all the Group’s support functions and operations, i.e.
• Participate in the strategic risk management process of the company
• Preparation (risk mapping) and participation in risk assessment workshops within the management committee of the geographical units.
• Consolidation of results.
• Assist in the deployment and strengthening of the internal control system, through initiatives such as:
• Maintenance and improvement of the control framework
• Participation in the Control Testing campaign to assess the maturity of internal control throughout the Group.

Required skills and knowledge

I work in a very international team, whose members were based in France, Portugal, Sweden and India. In terms of soft skills, the interpersonal aspect is crucial, because in auditing we must work with a huge number of departments to obtain the information we’re looking for. In addition, as part of a very international team, the working language is English, not French, which also requires an open mind due to the mix of different cultures. Good communication skills are essential, as is attention to detail and adaptability.

In terms of hard skills, you need to have a good command of Excel, the principles of Environmental, Social, Governance (ESG), the fundamentals of internal control, risk management and audit tools, which are specific to each company.

During my apprenticeship, I started to learn how PowerBI works (it’s a suite of data analysis and visualization tools developed by Microsoft. It enables users to connect, transform, visualize and share data interactively), which is also one of the most widely used tools for analyzing the progress of audits in real time.

What I learned

Internal audit has given me an in-depth understanding of organizational dynamics and internal control mechanisms. By systematically assessing operational processes, I have developed my knowledge of how to identify inefficiencies and risks inherent in the company’s activities. I have also strengthened my communication skills, learning to clearly articulate the conclusions and recommendations of audits to stakeholders. Exposure to various audit techniques, such as data analysis and tests of control, has enabled me to acquire analytical rigor and problem-solving skills. This experience has also improved my adaptability, enabling me to adjust effectively to the specific requirements of each assignment. Finally, an in-depth knowledge of professional standards and regulations has been essential in ensuring operational compliance and promoting a culture of continuous improvement within the organization.

Financial concepts related to my apprenticeship

Internal Controls

Internal controls are the policies, procedures, and mechanisms put in place by an organization to ensure the integrity of financial reporting, operational effectiveness, and compliance with applicable laws and regulations. As an internal audit intern at Atos SE, one of my primary responsibilities is to evaluate the design and operational effectiveness of the company’s internal control framework across various business processes and functions.

By assessing internal controls, I would help identify potential weaknesses or deficiencies that could expose the company to risks such as financial misstatements, fraud, or operational inefficiencies. This evaluation would involve testing key controls, reviewing documentation, and conducting interviews with process owners to understand the control environment.

Risk Assessment

Risk assessment is a critical component of internal auditing, as it helps identify and prioritize the areas that pose the greatest risks to the organization. At Atos SE, I’m involved in the risk assessment process, which typically involves:

• Understanding the company’s risk universe and the potential impact of various risks on its operations and financial performance.
• Analyzing risk factors such as changes in the regulatory environment, technological advancements, cybersecurity threats, and market conditions.
• Evaluating the adequacy of existing risk management strategies and controls.
• Providing recommendations for enhancing risk management practices and mitigating identified risks.

By conducting risk assessments, it contributes to the development of an effective risk-based internal audit plan, ensuring that audit resources are allocated to the areas of highest risk.

Compliance

Compliance with applicable laws, regulations, and internal policies is a crucial aspect of corporate governance and risk management. In the internal audit team, we are responsible for assessing the company’s compliance with various regulatory requirements, such as data privacy laws (e.g., GDPR), anti-corruption laws, and industry-specific regulations.

This involves reviewing the company’s compliance policies and procedures, testing the effectiveness of compliance controls, and identifying potential areas of non-compliance. Auditors are also expected to provide recommendations for strengthening the compliance program and addressing any identified deficiencies.

By ensuring compliance, the audit team help Atos SE mitigate legal and reputational risks, avoid potential fines and penalties, and maintain a strong ethical culture within the organization.

Why should I be interested in this post?

If you are currently employed at one of the Big Four accounting firms and are considering a transition to internal audit, a concise summary of my experience as a work-study student at a company specializing in cybersecurity may offer you a valuable perspective.

The primary objective of this post is to provide a clearer understanding of internal auditing from the standpoint of a work-study student who began with no prior knowledge of the field.

For those with an interest in finance, engaging in this sector through internal audit can serve as an excellent introduction. It can also pave the way for future opportunities in consultancy firms or act as a steppingstone towards roles that demand a higher level of precision, whether in internal or external audit.

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   ▶ Federico MARTINETTO My experience as a PwC Associate Auditor in the Digital Data Hub

Useful resources

Atos SE website

Atos SE career website

The Institue of Internal Auditors

Institut Français de l’Audit et du Contrôle Interne

Certified Internal Auditor certification

About the author

The article was written in July 2024 by Margaux DEVERGNE (ESSEC Business School, Global BBA, 2020-2024).

My experience as Revenue Analyst at Olympique de Marseille

In this article, Quentin CHUZET (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2019-2023) shares his professional experience as Revenue Analyst at Olympique de Marseille.

About the company

Olympique de Marseille is a French football club founded in 1899. It is one of the most emblematic clubs in French and European football history, with an emblematic international reputation. Through decades of performance and media exposure, it has become an emblem of French sport, inscribing itself as a culture and tradition for millions of supporters around the world.

Logo of the Olympique de Marseille

Source: Olympique de Marseille.

Its takeover by the Mc Court Group in 2016 initiated a radical change in management and in the harmonization of processes, to continue to broaden its scope and enable grows bigger. Therefore, the club generates more than 200m € for the seasons 2021-2022 and 2022-2023 with 270m € of revenues expected for the season 2023-2024 It bases its growth on the sporting aspect but also on innovative sport business strategies. With a stadium capacity surpassing any of other Ligue 1 club (67.000 seats) and a meticulous ticketing strategy, the club is part of the Top 10 of the most attractive stadiums in Europe and continues to capitalize on its national and European reach.

OM Revenues vs other clubs.

Source: Deloitte Football Benchmark.

My apprenticeship

Joining Olympique de Marseille allowed me to discover and evolve within the soccer ecosystem, but also to take a practical approach to issues relating to football clubs revenues optimization and maximization.

The diversity of revenue sources at a club like Olympique de Marseille opens the door to a wide range of missions and tasks. As I was directly involved in all strategic aspects of revenue management : I was notably involved in defining the pricing of Ticketing & Hospitality (VIP) revenue streams, drawing up business plans for club projects, managing budgets and revenue targets set at the start of the season, analyzing financial opportunities represented by the entry of sponsors or investors, etc.

I therefore occupied a strategic role, acting as a pivot between the sales and finance teams, defining budgets alongside management control and that could be reachable for the commercial team, and while supporting the sales teams in achieving the latter by analyzing revenue opportunities and proposing strategic recommendations.

1/4 French Cup, season 2022-2023 : OM-Annecy. Historical record of attendance for a ¼ in the club’s and competition’s history.

Source: Olympique de Marseille.

My missions

Strategic recommendations and pricing

The main task assigned to a Revenue Analyst at Olympique de Marseille is to play an active role in defining pricing for the general public and VIPs at each match. To do this, I had to identify the exogenous variables of each match and quantify their impact in order to measure inbound demand as a function of a certain price level. Using historical data from similar matches and cross-referencing it with the maximization opportunities available at any given moment, I was responsible for drawing up the pricing and sales strategy (choosing best commercialization timing, best offer to address etc.) calculating forecast revenue trends and presenting my recommendations to management on several occasions. Thanks to our strategy the club reached the total of 1.550.000 attenders for a unique season and broke other records as the highest attendance ever known for one game (65.984 attendees vs PSG), the highest average attendance for one season (62.065 attendees), the highest number of sold-out games (23 over the season) and the highest attendance ever known for a French Cup game (63.929 attendees). Finally, the strategies leaded by the Revenue Management department leaded to a 4.8M € maximization of the total club revenues.

Participation in club project profitability studies

More generally, as a Revenue Analyst, I was involved in every aspect of the club’s revenue development.

Conducting pricing analysis and manage commercial strategy was part of the Ticketing & Hospitality revenue stream. However, my missions also involved providing my vision on certain high-stakes projects involving additional revenue generation. From the arrival of potential sponsors and investors to the launch of the new “Peuple Bleu&Blanc” loyalty program, I was responsible for measuring the profitability of these projects by calculating the potential income they could generate, while defining and steering a strategy for maximizing it.

Intermediary role between sales and finance teams

The role was multi-functional in terms of strategy, finance, and sales. We had to define ambitious, realistic budgets alongside management control, while supporting the sales teams in achieving them. To do this, we analyzed revenue opportunities and proposed appropriate strategic recommendations for the Ticketing, Hospitality, Retail, Membership and other revenue streams.

Development of steering tools and reporting dashboards

As the analysis are based almost entirely on the measurement of KPIs (Key Performance Indicators), the development of management tools represented a major challenge. So, it was up to me to play an active part, working with the IT (Information Technology) and back-office teams.

Required skills and knowledge

In my role at Olympique de Marseille, it is crucial to understand the financial and commercial issues facing the club and its teams. It’s also important to develop a strategic way of thinking in which everything can be optimized.

As a Revenue Analyst, every recommendation needs to be backed up by data, and every opportunity must be quantified to support each recommendations. That’s why you need to have an excellent mind for analyzing and interpreting data.

Furthermore, the numerous presentations and reports to management require solid written and oral communication skills (PowerPoint presentations, e-mail reports, etc.), as well as adaptability to the person you’re talking to, in order to make the right points and get your recommendations accepted.

In addition, mastery of Excel and the budgeting/revenue forecasting process is key to this position. As each decision has a significant impact on the season’s revenues, numerous budget forecasts are required, particularly around Best/Mid/Worst scenarios. It is also necessary to master the Power BI tool (Business Intelligence by Microsoft) to be able to develop and interpretate every KPI.

Finally, it is essential to be humble and questioning in order to identify areas for improvement in each strategy, and to meet management’s requirements on an ongoing basis and know how to identify the best practices of these recommendations.

OM revenues details for the 2022/2023 season.

Source : Deloitte Report

Financial concepts related to my apprenticeship

Budget Management

Budget management is a key concept in this position, influencing the decisions of sales teams and having a major impact on every strategy implemented. Budget management represents a guideline for costs and revenues, and in particular the preparation of a forecast budget which serves as a basis for input management.

Revenue Management

Revenue Management is a key concept which consists of defining variables considered to have an impact on maximizing revenues in periods of growth and limiting losses in periods of decline. For a club such as Olympique de Marseille, this means capitalizing on positive trends (good sporting dynamics, special matches, etc.) and protecting revenues when the sportive situation is non-favorable : succession of bad games, bad weather on matchday, non-attractive game due to opponent.

Business Plans and Financial modeling

Studying the profitability of projects and simulating the impact of commercial strategies involves drawing up business plans and financial models in order to calculate forecast revenues. To do this, we need to establish different scenarios adapted to different contexts and KPIS and then take into account the action and development plans for these projects, as well as the business models used.

Why should I be interested in this post?

If you’re interested in the field of Finance and Strategy, particularly within a soccer club, then this article will give you a clearer picture of the tasks and skills required, as well as the importance of Revenue Management within a sporting institution. Through this empowering experience, I was able to develop both the hard skills that will serve me well in my future career in Finance, and the soft skills that will enable me to perform in a demanding, high-pressure environment.

If you have any questions about the position or the sector, please don’t hesitate to contact me on my personal Linkedin page, I’ll be delighted to answer them.

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Useful resources

Official OM website

Deloitte reporting : Football Money League 2024 edition

Official French Football League website : All DNCG report until 2021-2022 season

Example of a Football club balance sheet : SC Bastia (French 1st division) during the 2015-2016 season

About the author

The article was written in March 2024 by Quentin CHUZET (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2019-2023).

My professional experience as a financial and accounting assistant at Professional Services

In this article, Alessandro MARRAS (ESSEC Business School, Global Bachelor in Business Administration (GBBA), Exchange Semester, September 2023-December 2023) shares his professional experience as a financial and accounting assistant at Professional Services.

About the company

Professional Services was founded in 1986 by a team of professionals (lawyers, chartered accountants, and labor consultants), with the aim of providing services to businesses in the accounting, labor, administrative, tax, and corporate sectors. The mission is to offer entrepreneurs an integrated package of services capable of stimulating organizational transformations and facilitating the achievement of adequate levels of competitiveness. The target audience addressed by the Group primarily consists of Italian and foreign companies operating in the service sector and tertiary industries in general, as well as industrial, commercial, transportation, etc. With over thirty years of experience in the sector and an average annual group turnover of approximately €2,000,000, Professional Services can guarantee their clients the highest level of professionalism.

Logo of Professional Services.

Source: Professional Services.

As an assistant, I was part of the financial and accounting advisory department of Professional Services. In this department we were entrusted with critical responsibilities spanning the processing of accounting data and the provision of essential accounting and administrative services. The department served as the backbone of the organization, providing essential support across a spectrum of financial activities. We were responsible for maintaining accurate and up-to-date accounting records, ensuring the integrity of financial information. Moreover, we undertook the crucial task of preparing and analyzing financial statements, offering insights vital for informed decision-making. Additionally, the team managed various accounting and administrative services, including the maintenance of corporate books, providing corporate assistance, and overseeing the intricate landscape of taxation, encompassing value-added tax (VAT), personal income tax, corporate income tax, and regional tax on productive activities.

My internship

I had a 3-month internship at Professional Services as a financial and accounting assistant in 2023.

My missions

Over the course of these three months, my mission was to prepare and analyze the financial statements for our clients. I ensured that these statements were accurate and complied with relevant accounting standards, providing reliable insights for decision-making. This involved meticulously reviewing balance sheets, income statements, and cash flow statements for the given clients and reporting how these statements were in comparison to industry benchmarks. Moreover, I contributed to the maintenance of clients’ accounting records, assisting in the establishment of a comprehensive and organized financial record-keeping system. I did this through a software called Profis which helped by facilitating the compilation of balance sheets and declarations and performing tax simulations. Additionally, I handled various tasks related to invoicing, ensuring accurate processing and organization to facilitate smooth financial transactions for our clients. By fulfilling these responsibilities diligently, I aimed to support our clients in maintaining financial integrity, facilitating informed business decisions, and providing excellent service overall.

Required skills and knowledge

During this internship, I sharpened a combination of soft and hard skills that were indispensable for my position. Soft skills, such as effective communication, were essential. The ability to convey complex financial information clearly and succinctly to colleagues was crucial. Additionally, strong interpersonal skills facilitated collaboration within the team and ensured smooth workflow.

Attention to detail emerged as a critical soft skill, particularly when working with financial data and reports. The ability to meticulously analyze information and identify discrepancies was crucial for maintaining accuracy and reliability. Furthermore, time management skills were invaluable, as I often juggled various tasks and deadlines while prioritizing workload effectively.

On the hard skills front, proficiency in accounting principles and practices was fundamental. This included a thorough understanding of IFRS accounting regulations and principles, coupled with experience in financial statement preparation and analysis. Additionally, familiarity in applications such as a spreadsheet like Excel and an accounting software like Profis was essential. Mastery of Excel allowed me to manipulate and analyze financial data efficiently, while knowhow in Profis facilitated specific accounting operations and analyses required for the firm’s services.

Adaptability was also key, given the dynamic nature of the internship environment. The ability to quickly learn and adapt to new software and procedures ensured that I could contribute effectively to the team’s objectives. Overall, the combination of soft and hard skills enabled me to excel in my internship at Professional Services, providing me with invaluable experience and preparing me for future challenges in the field of finance and accounting.

What I learned

In terms of knowledge, I learned a multitude of valuable lessons that have significantly contributed to my professional growth and development. Firstly, I gained hands-on experience in financial statement preparation and analysis, improving my skills in interpreting financial data and drawing meaningful insights to support decision-making processes. Through my work. An integral part of this experience was learning to meticulously review and reconcile accounts to ensure accuracy in financial reporting. By identifying and correcting discrepancies between the general ledger and subsidiary accounts, I helped maintain the integrity of financial statements. Additionally, I deepened my understanding of IFRS (International Financial Reporting Standards) accounting principles and regulations, which are crucial for ensuring transparency, accountability, and comparability of financial statements. By familiarizing myself with these principles, I was able to assist in preparing financial statements that met regulatory requirements, enhancing the credibility and reliability of our clients’ financial information.

Moreover, working with software applications such as Excel and Profis expanded my technical proficiency, allowing me to efficiently manipulate and analyze financial data. This experience has enhanced my ability to leverage technology to streamline processes and improve productivity in the workplace.

On a broader level, my internship at Professional Services provided me with invaluable exposure to the dynamics of the finance and accounting industry, in the sense that I gained insight into the day-to-day operations of a consultancy firm, including client interactions, and the importance of maintaining accuracy and integrity in financial reporting.

Furthermore, collaborating with colleagues from diverse backgrounds, such as with different experiences, educational backgrounds and different areas of expertise, has improved my communication and teamwork skills, fostering an appreciation for the importance of effective collaboration in achieving organizational goals.

Overall, my internship experience at Professional Services has equipped me with a comprehensive skill set, valuable insights, and a deeper understanding of the finance and accounting profession, laying a strong foundation for my future career aspirations.

Financial concepts related my internship

Financial Statement Analysis

Financial statement analysis involves evaluating a company’s financial performance and position by examining its income statement, balance sheet, and cash flow statement. In my role, I actively participated in the preparation and analysis of financial statements for clients, ensuring accuracy and compliance with accounting standards.

Financial Reporting Standards

Financial reporting standards refer to a set of guidelines and rules established by regulatory bodies or standard-setting organizations to govern the preparation and presentation of financial statements. These standards aim to ensure consistency, transparency, and comparability in financial reporting across different organizations and industries. In my role, I applied financial reporting standards to prepare and review clients’ financial statements and records, ensuring accuracy and transparency in reporting.

Taxation

Taxation includes corporate income tax, applied to business profits, and value-added tax (VAT), imposed on goods and services at each stage of production. Corporate income tax understanding involves knowledge of tax laws, deductions, and applicable rates. Similarly, understanding VAT requires knowledge of registration, taxable transactions, and applicable rates. Even though I was not directly involved, the team was responsible in accounting for VAT and corporate income tax for clients, ensuring compliance with relevant regulations.

Why should I be interested in this post?

An ESSEC student aspiring to pursue a career in finance would find my experience at Professional Services particularly compelling. By sharing my experience as a financial and accounting assistant, I aim to offer fellow ESSEC students a glimpse into the practical application of finance concepts in a professional setting, inspiring and informing their own career aspirations in the field.

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Useful resources

Professional Services

About the author

The article was written in March 2024 by Alessandro MARRAS (ESSEC Business School, Global Bachelor in Business Administration (GBBA), Exchange Semester, September 2023-December 2023).

My experience as a Data analyst in CEMEX

In this article, Jorge KARAM DIB (ESSEC Business School, Master in Strategy and Management of International Business (SMIB), 2024-2025) shares his professional experience as a Data Analyst and Data Management in CEMEX.

About the company

CEMEX is one of the leaders in building materials in the world. Their main products are cement, concrete, and aggregates (building materials in general). Based in Mexico, CEMEX reported a $15bn USD revenue in 2022, representing a 12% increase from the previous year. The company’s sales distribution, with cement, leading at 42%, followed by concrete at 33%, aggregates at 14%, and urban development at 11%, illustrates a balanced yet strategic emphasis on its core products and services.

Geographically, CEMEX’s influence spans major regions, with a substantial presence in Mexico, the USA, Europe, Asia, the Middle East, South America, and the Caribbean. Its operational footprint includes 64 cement plants, 1348 ready-mix concrete facilities, 246 quarries, 269 distribution centers, and 68 marine terminals, showcasing its capacity to serve a global clientele effectively.

At their beginnings, the company started with a single plant in Hidalgo, Mexico, called “Planta Hidalgo” under the direction of Mr. Lorenzo Zambrano, founder and CEO. Ever since then, the company adopted a philosophy of growing by acquisition. Great financial ratios, high volume of sales related to a big percentage of market share in Mexico, allowed CEMEX to do key strategic acquisitions throughout the next years that catapulted CEMEX into the international markets. Even with the financial crisis in 2008, they have been resilient and survived a big economic turmoil thanks to their high-quality products, service and cutting-edge advancements in digitalization, supply chain and data management.

Logo of the company

Source: CEMEX.

At the beginning of my career in the company, I started inside a program called “Digital Professionals in Development” (DPiD) which aimed to train and prepare 100 recently graduates to help the company boost the digital transformation in a period where CEMEX was going through a major digital transition of the commercial customer experience. Inside the program, I started as a Data Scientist inside the Global Data Analytics department, which allowed me to understand the different schemes of work, the hierarchical processes, capabilities and scope of the company and the institutional tools.

After working for the Global Data Analytics, another area that I’ve had experience, and where I’ve spent most of my time with, is the Commercial Development Area. Here, the intention is to keep the company at the state of the art in the commercial practices and keeping up with the technological trends of the world. My main duties have been regarding Data Management, on the development and management of advanced data analytics projects and master data quality, everything under the commercial umbrella.

My expertise at Data Management

Advanced Analytics

The way Advanced Analytics topics are managed is in a scheme by projects and in a cross-functional mode with other areas of the company like data architecture, supply chain, and more. According to the needs, or trends that anyone in the company points out, we assess the feasibility and benefit of approaching a new idea.

Some of the topics that we’ve been approaching have to do with increasing sales, enhance customer experience, increase Net Promoter Score (NPS), and improve the digital experience. One of the main projects that we’ve been developing is aligned with the retention of customers by predicting with service variables, historic volume trends, and machine learning the probability of a customer leaving the company. This effort requires to align with sales people of the different regions to set thresholds for the service variables and come to an agreement, consume information from the correct architecture source, and do the development of the machine learning model. As a final product, we’ve got the model embedded in a dashboard that the sales people can consult at any time, joined by monthly alerts sent to their email and their Customer Relationship Management (CRM) account.

Data Quality

Within the area, we’re managing the quality of the commercial information by managing and implementing actions to improve their completeness and accuracy. We acknowledge the importance of a high-quality level of information. Understanding that high data quality is the base of a successful forecast, project improvements, and in general for a company to become data driven.

As expected with a company that has presence in many regions of the world, the amount of information and different types of it can be overwhelming, a prioritization and starting point had to be put in place in order to overcome the overwhelming amount of information. Naturally, the first step was to define the attributes, and fields to be measured. After doing so, we had a clear picture of pain points throughout the regions and we prioritize the remediation of them. Lastly, as we don’t want to be continuously doing the cleaning effort, we want to maintain as much as possible the incoming information clean, in order to do so, it is necessary to put entry point validations to only allow clean information to come into the systems.

Required skills and knowledge

It is necessary to have the “hard skills” to work with the institutional tools, in CEMEX’s case, it is needed to know SQL, Power Bi, and Python (and/or R). Apart from the “hard skills” just mentioned, it is also necessary for “soft skills” to be known and/or developed, which would be to coordinate different areas and teams to work together, frequent results report, presentations to stakeholders, agile methodology to follow the progress of the project, and more.

What I learned

My main takeaways that I’ve had working at these projects is the importance of coordination with other areas, the help and expertise that you can get from relying with people with more experience would be as a shortcut for a lot of problems that may arise. Always ask for help whenever you feel that you might be stuck with an issue and be open to receive new ideas.

Financial concepts related my internship

EBITDA/Debt ratio

As mentioned earlier, part of the company’s philosophy is to grow by acquisition, hence the EBITDA/Debt ratio is crucial in order to get debt with lower interest rates, as the ratio is part of the key financials that banks and rating entities take into account when analyzing a company.

Return on Assets (ROA)

This financial indicator measures a company’s efficiency in generating profits from its assets. It is calculated by dividing the company’s net income by its average total assets. In other words, ROA indicates how effectively a company is utilizing its assets to generate earnings.

Why should I be interested in this post?

This post is with the intention that any student or alumni can have a glimpse of the structure of my professional experience in a company that is based in a different continent and would probably help them compare and see the main differences and similitudes between what is being done in Europe against what is being done in Mexico.

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Useful resources

CEMEX Official webpage in France (ICD)

About the author

The article was written in March 2024 by Jorge KARAM DIB (ESSEC Business School, Master in Strategy and Management of International Business (SMIB), 2024-2025).

My professional experience as a credit analyst at Targobank

In this article, Matthieu MENAGER (ESSEC Business School, Bachelor in Business Administration (BBA), 2017-2021) shares his professional experience as credit analyst at Targobank (a subsidiary of the Crédit Mutuel group).

The Company

Targobank, a subsidiary of the Crédit Mutuel group, is a German bank operating mainly in the retail and corporate customer segments. Founded in 1926, it is one of the major players in Germany. With €2.6 billion in equity (8.6% of its total liabilities), Targobank AG generated €1.2 billion in income and interest in 2021.

Targobank has 7,000 employees in 2022.

The Crédit Mutuel Alliance Fédérale group is one of the largest and financially strongest banks in Europe (18 billion euros in interest and similar income in 2022), with a very good credit rating (S&P: A). It combines the advantages of a cooperative bank with strong local roots with those of an international bank, Crédit Industriel et Commercial.

Logo of the company.

Source: Targobank.

What is really a credit analyst?

Credit analyst is an important position in the organization of a bank. It generally belongs to the back office (in my case I was in the front office). This department determines a company’s ability to repay one or more different types of loan (syndicated loan, current account overdraft, club deal, etc.) and the degree of risk for the bank. It carries out a financial, macroeconomic, microeconomic, CSR (Corporate Social Responsibility) and overall analysis of all the criteria that can have an impact on repayment capacity.

In addition to carrying out a complete analysis on established customers and prospects (potential new customers), the credit analyst must also ensure that the systems are properly maintained (internal rating commitments, updating the group’s status, etc.). This is a task that should not be neglected, as it allows all the other divisions to be informed about the situation of each agency.

What were my missions in the VIE ?

I arrived in June 2022 as a VIE (Volontariat International en Entreprise in French) for a period of 1 year and 6 months (I’ve extended by 4 months until April 2024). My objective at Targobank was initially, to look after the 42 existing customer files at our Frankfurt branch by carrying out each year either a simple annual review (simple review of our borrower’s group without any major decisions), a renewal (complete review and renewal of one or more lines that are due to expire at the time of the administrative deadline for the file), or a new application (complete review and new application(s) in addition to the review or renewal of other existing lines).

We offer companies every possible type of loan (traditional loans, facilities, leasing, factoring, SDM, or even guarantees). I also analyze certain prospects to determine whether they could become our customers. This analysis can have several objectives: either the customer is solid and profitable or belongs to a group with which we would like to have a future commercial relationship.

Finally, it is also my task to keep the various files on our internal systems up to date. I’m in constant contact with the Back Office to obtain the various documents needed to carry out internal tasks. These tasks may include filling in financial data, listing the various commitments, updating the company’s status, etc.

Required skills and knowledge

To be a credit analyst, you need several hard skills. You need to know how to use Excel and all the internal programs (we have a few days to familiarize ourselves with the systems), you need to be able to produce complete and concise analyses (financial, risk, data, etc.), you need to have a good grasp of accounting and be able to draw up financial forecasts. In my personal case (I work in Germany), I also need to be able to speak several languages (German, English and French).

Soft skills are just as important as hard skills. As a credit analyst, you have to turn in reports on time. You have to be meticulous about every detail so as not to mislead those who are going to validate the reports (commitments can amount to €20 million). Another skill is knowing how to collaborate and communicate with your team in order to provide the best file based on the various documents obtained. Finally, it is important to manage time and stress so as not to make mistakes when sending the report to the committee.

What I have learnt

During my almost two years in banking, I was able to broaden my knowledge of the world of finance. I worked in many different sectors and was able to get familiar with several other finance-related jobs (leasing, back office, etc.). My analysis of different financial situations has only improved and I’m now very comfortable with technical terms and their repercussions on a company. I can quickly form an initial impression of a group by carrying out a simple financial and market analysis. I’m also increasingly careful in my research to avoid being misled by a group’s appearance (some groups may claim to be doing well but are actually in decline).

My communication (email exchanges, Skype, Meeting Calls) has also improved. I try to give clear, concise answers so that I don’t get bogged down in a flood of emails and so that my interlocutor and I waste as little time as possible.

I’ve also acquired knowledge of the different markets (trends, clients, best manufacturers, etc.) in which I’ve worked (construction, pharmaceuticals, automotive, etc.). This is a quality that could be very useful to me in any field in which I might later wish to work.

Financial concepts related my internship

Group Annual Report

A group’s annual report is essential to its analysis. It must or may be published depending on a number of conditions and the surrounding standards (IFRS or HGB in Germany). The annual report provides a detailed picture of the group’s profitability (income statement), financial strength (balance sheet) and liquidity (cash flow statement). Annual reports also include a market analysis and financial forecasts (PLAN and FORECAST).

Environmental Social Governance (ESG)

Environmental Social Governance (ESG) is playing an increasingly important role in finance. For some time now, I have had to carry out an internal analysis of these 3 non-financial factors for each group and assign a rating, which can have an impact on the increase or decrease in financial interest on each commitment. The group must pay attention to its carbon footprint, diversity within the group, and the health and well-being of its employees.

Covenant

A covenant is a clause in a contract that allows the loan to be repaid if targets are not met. Covenants often relate to financial aspects and require the Group to send a Compliance Certificate, which verifies whether or not the objectives have been met and which is to be delivered on the date specified in the contract. Examples of covenants I have dealt with are: leverage >3.0x; Maintain equity >= 30%; or Gearing <100%.

Why should I be interested in this post?

If you’re interested in the world of finance, the position of credit analyst will undoubtedly be very popular. You’ll be exposed to several areas of finance, you’ll acquire a lot of knowledge and skills, and you’ll be responsible for monitoring several files. It’s a job that requires a lot of qualities and rigor, but also a lot of experience and knowledge. You’ll be doing financial analysis, macroeconomic analysis, microeconomic analysis, ratings, reports, simplified excel sheets and lots of other tasks.

I’d highly recommend the job and I’d advise starting out in a banking institution. It will be easier to get into the swing of things in a bank because you have less risk-averse credits. You could then consider joining an investment fund, where the decisions taken will have greater importance.

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Useful resources

Targobank

Crédit Mutuel

About the author

The article was written in January 2024 by Matthieu MENAGER (ESSEC Business School, Bachelor in Business Administration (BBA), 2017-2021).