Joaquín Ormeño, Wharton’s MBA/MA Class of 2021
Age: 30
Hometown: Lima, Peru
Undergraduate Institution and Major: Georgetown University’s School of Foreign Service, International Economics, Class of 2012
Pre-MBA Work Experience (years, industry): 3 years in Debt Capital Markets and 4 years in Private Equity, of which the last two had a focus on Clean Energy Infrastructure
Why business school? Why now?
My work experience exposed me to a variety of financial products and to life in New York, Lima, Istanbul and Dubai. I was fortunate to expand my horizons across multiple global business frontiers. However, in a fast-paced environment where I was constantly changing countries, I realized that my reach and breadth was exponentially growing at a detriment of dwindling technical and managerial skills.
I will need precisely that skill set for a future in entrepreneurship and business development. While working in private equity, I also realized how important it is for a founder to have a 360-degree understanding of all key areas of a business, from finance to operations to HR.
Post-MBA, I envision returning to Peru as an entrepreneur in the Food & Beverage space. I believe that there is a strong case for the expansion of Peruvian brands and concepts across the globe. With that objective in mind, Wharton provides the ideal place where I can develop personal and professional skills as well as a place where I can execute my business ideas.
Why Wharton? What factors figured most prominently into your decision of where to attend?
During my seven years as a professional I was always involved with emerging markets. When applying to MBA programs, I was seeking a program where I could not only focus on business, but also on continued engagement with emerging markets. I found the double degree between Wharton and UPenn’s Lauder Institute for International Studies and Management to be the perfect companion in nurturing such interests.
As part of my Africa track requirements, I spent the summer traveling through Senegal, Kenya, Nigeria and South Africa prior to Wharton’s pre-term. I am now taking classes to strengthen my French, and I also get to practice my Chinese with my Lauder classmates.
An additional draw to Wharton was the opportunity to reconnect with my home region of Latin America. Wharton happens to have one of the strongest, if not the strongest, networks of Latin American students. WHALASA, the association that groups Wharton’s Latin American students, reached out to help me during my application period without me even requesting it. That example speaks highly of how committed Wharton’s Latin American students are in their mission of building and maintaining a community.
What do you think is your most valuable or differentiating contribution to the Class of 2021?
I am working on the spring break Peru Trek along with the other six Peruvians in my class. I am looking forward to contributing to the Class of 2021 by not only providing them with windows to get to know about business opportunities in Peru, but also to get closer to a country that has so much to teach about social cohesion and multiculturalism.
Fun fact that didn’t get included on your application?
I organized a trip for 45 people around the Peruvian Andes for my 30th birthday. The highlight was a three-day train ride from Cuzco to Lake Titicaca to Arequipa. Best trip of my life.
Post-MBA career interests?
I am looking forward to moving back to Peru to start my own entrepreneurial projects. The first one will be in the food and beverage space.
Advice to current prospective applicants:
–One thing you would absolutely do again as part of your application process?
I kept a spreadsheet with all the major details regarding the application for each school: the people I contacted, the deadlines, the status of each deliverable, etc. Without this tool I would not have been able to streamline multiple, simultaneous processes.
–One thing you would change or do differently?
I would have tried to understand the core curriculum of the school a little better. Not only because it is important to tie in academic aspects to the essays, but also because it is important to start day one with the right foot. The less time is spent on understanding school basics, the more time you can have to tailor the experience for oneself. That way you can also start working right away on career-related objectives.
–Part you would have skipped if you could—and what helped you get through it?
Studying for the GMAT was very time consuming. The Economist app was extremely helpful in getting me through it because I could always study from my phone, tablet or computer. I could even study during lunches at work. It was extremely convenient, and its algorithm helped me target my mistakes.
What is your initial impression of Wharton’s students/culture/community?
Wharton students are extremely proactive. Students do not wait for the official club season to be launched. Many events are being organized around subjects like VC and entrepreneurship by first-year students, even before clubs get to officially introduce themselves. Pre-term has been very exciting thanks to initiatives that first years bring to the table.
One thing you have learned about Wharton that has surprised you?
UPenn is building Tangen Hall, an entrepreneurship-focused building that will be ready by the fall of 2020. The new addition to campus will even include a test kitchen for start-ups like mine!
Thing you are most anxious about in your first year?
Learning how to balance course curriculum requirements with club activities as well as with entrepreneurial efforts outside of class.
Thing you are most excited about in your first year?
My entrepreneurship classes and the start-up competitions that provide funding to work on your own start-up during the summer break.
