Beth Schulte W'97
Email: beth.schulte@capitalworld.com
What did you study and when did you graduate?
I graduated from Penn in 1997 with a Bachelor of Arts from the College in Romance Languages and with a Bachelor of Science and from Wharton. My majors were French and Finance.
What were you involved in on campus?
I spent a lot of time in pre-professional clubs like Wharton Women. I studied abroad and was a member of Chi Omega.
What advice do you wish you had known when you were an undergraduate?
Everybody finds their fit at the right time. When I started at Penn, I was so focused on keeping up with my peers who looked as if they already had their career paths laid out- it drove unnecessary stress. I wish I could have looked forward and seen my career would work out. That would have given me the confidence to do even more of the exploration one should do in college. I could have used an extra art history class or two!
What do you do now and where are you based?
I am living in San Francisco, working as an equity investor at the Capital Group, an asset management firm which is based in Los Angeles. I’ve been working there for 18 years now.
How has being a woman affected your career trajectory, if it has?
I love being a woman in finance. Anyone can learn to analyze a balance sheet, but I find it can be a competitive advantage to look at relationships between executives, competitive situations, and corporate culture from a woman’s vantage point. I invested in toy stocks for several years, and the differentiated insights I got as a mom of young kids were helpful. Fortunately, I do not feel I’ve faced any hardships as a woman in finance. The Capital Group is an amazingly supportive, collaborative organization that supports women trying to balance work and family.
How has the pandemic affected the industries you cover (apparel and media)?
COVID-19 has accelerated several pre-existing trends. When everyone went into lockdown, for example, gamers spent more time playing video games. This was a continuation of the prior rise in time spent on interactive entertainment. Additionally, the pandemic has accelerated the casualization trend in apparel – as we go back to work, I suspect denim will continue replacing more formal workplace attire.
What has been the biggest challenge of your career?
Early in my career as an investor, I covered bank stocks. During the global financial crisis, I felt tremendous pressure to have all of the answers, even when we were in uncharted waters. I was stressed trying to understand each acronym of what was ailing the banks, from CDOs to SPVs to SIVs. These were the “trees” and it would have been much easier to see the forest through the trees. The forest was on fire and had I known that no one person could have all the answers, that would have saved me many sleepless nights.
What is the worst career advice you have received?
During that challenging period of my career during the financial crisis, I wanted to give up. Some of my mentors thought this was a good option. They felt that starting from scratch and finding something new was appropriate. However, this harsh feedback only emboldened me to dig myself out of that hole.
What is some advice you would give to undergraduates now?
Be yourself. The world feels so competitive and there are so many challenges to solve in creative ways. I recommend looking for the career path you will enjoy, not the one you think you “should” seek. When you find that career, bring your authentic self. It can be exhausting to try to be someone you are not, or to fit the mold of who you think you should be.
Favorite TV show or movie?
I have a long list of guilty pleasures! I admit that I’m eager to carve out time for both the Friends reunions. The show debuted when I was at Penn, and I can still recall gathering with roommates on Thursday evenings, the old-fashioned way of watching TV.