Letter from the Director
Hello Nicholas Center community and friends,
As we begin a new calendar year and settle into the rhythm of the spring semester, I’m reminded of the momentum that defines our Nicholas Center community. Although this newsletter arrives a bit later than usual, the timing allows us to reflect not only on the close of the fall semester but also on the energy and learning that emerged from our early‑January International Immersion program.
This winter has highlighted what makes the Nicholas Center for Corporate Finance & Investment Banking so distinctive: experiential learning, strong industry connections, and a shared commitment to preparing students for meaningful careers in a rapidly evolving financial landscape. From collaborating with industry partners in the fall to engaging with global firms during our January immersion, our students continue to strengthen the curiosity, resilience, and professional readiness that define Nicholas Center talent.
As we move through the spring semester, many of our MBA students are still actively recruiting for internships and full‑time roles. Your engagement — whether through sharing opportunities, connecting with students, or offering industry insight — makes a meaningful difference. Thank you for your continued partnership and for helping us open doors for the next generation of finance leaders.
Wishing you a strong start to the new year — and as always, On, Wisconsin!
Barb
Winter 2026
International Immersion: London and Brussels
In early January, many of our MBA students participated in a week-long international immersion throughout London, UK and Brussels, Belgium, exploring two of Europe’s most influential financial and policy centers. Led by Barb Bolens and Andrea Sorenson, the program blended cultural context with high‑impact corporate engagement, offering students a firsthand look at global markets, regulatory environments, and the evolving landscape of corporate finance.
In London, students visited organizations central to the UK’s financial ecosystem, including the Association for Financial Markets in Europe (AFME), the London Stock Exchange, Zilch, Cambridge Future Tech, Hampden Agencies, and Lloyd’s of London. These conversations provided broad exposure to capital markets, fintech innovation, venture building, and global insurance and risk management. In Brussels, the group continued their learning with visits toAmCham Belgium, PwC Belgium, Allianz Trade, Mastercard, and KBC Securities. Students explored topics ranging from payments innovation and transatlantic business relations to advisory work, risk solutions, and capital markets activity across the EU.
We are grateful to all our hosts in London and Brussels for welcoming our students and sharing their perspectives. Their engagement brought global finance to life and offered invaluable insight into the interconnected nature of today’s financial landscape. For additional insight into our trip experience, readers can access our international immersion blog post article.
Class of 2026 & 2027 – Resume Books
The Nicholas Center MBA cohorts include 26 students pursuing pathways in corporate finance, investment banking, venture capital, private credit, and wealth management. Four students in our Class of 2027 have accepted internships, and four students in our Class of 2026 have secured full‑time roles. As the rest of our students continue to navigate a highly competitive job market, we encourage them to leverage the strength of our Badger network to elevate their applications and uncover new opportunities. If your company is hiring, we invite you to connect directly with our finance MBA students or reach out to Barb Bolens or Andrea Sorenson so we can share your opportunity with the cohort. You can access our Class of 2026 and Class of 2027 resume books below, which highlight students currently seeking internships or full‑time positions.
Student Spotlight: Building LiQure: An Entrepreneur’s Journey
Daniel Adix is a first-year CFIB MBA student and entrepreneur who founded LiQure, a patent-pending DHM-based gummy for drinking recovery. Daniel brings diverse experience from boutique consulting and hands-on retail expansion. Prior to launching his business in April 2024, Daniel worked with a consulting firm focused on technology landscaping for aerospace and chemical industries. Daniel bootstrapped LiQure from concept to over 200 retail locations, including partnerships with Casey’s General Store and Murphy USA. Upon graduating, Daniel will become a double Badger, as he holds a B.S. degree in Marketing and Management & Human Resources from UW-Madison. Read Daniel’s student spotlight to learn more about his entrepreneurial journey!
Student Spotlight: A Day in the Life of an MBA Student
Nicholas Center student Leah Wong (MBA ‘27) shows us what a day in the life of a Wisconsin MBA student looks like! Leah is a first-year MBA student specializing in Corporate Finance and Investment Banking. Upon graduating, Leah will become a double badger, as she holds a B.A. Degree in Communication Science & Rhetorical Studies. Leah brings a background in marketing, is a Forte Fellow, and serves as the Graduate Business Association Social Chair. Watch as she takes us through her day filled with class, studying, internship recruiting, and a Graduate Women in Business kick-off meeting. View Leah’s DITL video on our Nicholas Center LinkedIn page!
Fall 2025
Career Trek to Milwaukee
Our MBA students embarked on a two‑day Milwaukee career trek this past September, visiting Molson Coors, Rehlko, Deloitte, Baird, and Komatsu. The experience offered students exposure to a wide range of industries—including beverage innovation, energy solutions, professional services, investment banking, wealth management, and industrial manufacturing—and provided a firsthand look at how finance teams drive strategy, partner across functions, and support business growth.
We are grateful to the many UW alumni and company leaders who hosted our group and shared their time and insights throughout the trek. A special thanks to Erin Schmidt, Arek Schmocker, Nicole Frezza, Laura Philbin, Chris Berry, Rob Kaderavek, Jennifer Roper, Arjun Singh, Nick Wong, and Michael McClanahan who made our visits possible. All of our employer and alumni hosts made this experience especially meaningful for our students. You can view our career trek video highlight or read our Nicholas Center blog article for an overview of the trip!
Mock Interviews
We hosted virtual mock interviews this past October, allowing even more alumni to participate and support our students from across the country. These sessions give first‑year MBAs a competitive edge as they prepare for internship recruiting, offering a low‑stakes environment to practice, refine their stories, and build confidence. Just as importantly, alumni bring candid, experience‑driven feedback that helps students understand how their responses land with real practitioners — insight that is difficult to replicate in the classroom and invaluable as they enter a competitive job market. We are sincerely grateful to the Nicholas Center alumni listed below who generously volunteered their time to interview our first‑year cohort of 15 students.
Hilding Branzell, (’00), Senior Director, NA Customer Finance, The Duracell Company (Retired)
Ted Willems, (’11), Director, Piper Sandler
Brian Meyer, (’13) Senior Director, Regal Rexnord
Michael Haberle (’15), Director of Finance, Pacific Cycle
Robert Brothers (’15), Vice President, BMO Commercial Bank
Tosan Olley, (’15), LOB CFO, Auto Loan Servicing & Refinance, Capital One
Michael Lockard, (’20), Senior Finance Manager, American Family Insurance
Dan Hyszczak, (’22), Associate, Baird
Ezra Swanson, (’23), Finance Director, Modine ManufacturingSarah Shooshtari (’23), Private Credit Analyst, Proterra Investment Partners
Don Condon Speaker Series
We continue to host our speaker series as a core component of the Current Topics in Finance course, giving students meaningful exposure to the forces reshaping today’s finance landscape. Each session brings practical applications and trends to life through applied learning, case studies, and candid insights from industry professionals representing our key finance pathways. Our guest speakers deepen students’ understanding of career trajectories, deal processes, and the technical and strategic skills required to succeed across all areas of finance.
We are grateful to all of the finance leaders who joined us this fall and generously shared their expertise and experiences. While our spring lineup is fully booked, we welcome interest for the 2026–27 academic year. Those interested in participating can reach out to Barb Bolens or Andrea Sorenson to explore opportunities.
Our Fall 2025 speakers included:
Aaron Holt, CFO – Hoffmaster
Topic: Journey to CFO
Matt Nehls, Senior Manager – Target Corporation
Topic: FP&A Roles & Careers
Steve Voskuil, CFO – Hershey
Topic: Hershey’s Unique 130-year Legacy (read Steve’s spotlight)
Tom Tefft, WSB Executive in Residence
Topic: Corporate Finance Careers in a Multinational Corporation
Jeff Prochnow, Executive Director, SCJ New Ventures & Acquisitions
Mike Katte, Director, Corporate Development/M&A – SC Johnson
Topic: M&A at SC Johnson
John Weyers, CFO – Industrial Physics
Topic: 13-Week Cash Flow Forecasting (read John’s spotlight)
Akhil Remesan, Partner – Madison Lake Capital
Topic: Private Equity & Entrepreneurship (read Akhil’s spotlight)
Gulru Gurkan, Commercial Finance Lead, Africa Region – Microsoft
Topic: Finance Skills in the Digital Transformation Era
Tim Yarbrough, CFO – ZipRecruiter Topic: ZipRecruiter’s Path Going Public (read Tim’s Spotlight)
MBA Employment Outcomes
Last fall, the MBA Program office finalized our Class of 2025 full-time and Class of 2026 Internship outcomes. Across all full-time MBA programs, our Class of 2025 base salary average was $104,948 with an average signing bonus of $22,025. Across all specializations, Class of 2026 Internship monthly salary average was $7,286 and 97% of students received and accepted internship offers.
Our Class of 2025 Corporate Finance and Investment Banking (CFIB) cohort had 80% job placement, which we measure by how many students accept offers within three months of graduation. Our CFIB Class of 2025 had an annual base salary average of $105,188. Our CFIB Class of 2026 had a monthly internship base salary average of $11,070.
Our CFIB salaries saw a year-over-year increase for internship salaries (67%); however, a year-over-year decrease for full-time salaries (7%) We account the changes due to the type of industry/role and varying geographic locations.
Students Elevate their AI Knowledge & Skills
AI as a Co-Pilot: Lessons from Launching Nova’s Next Product
Last fall, MBA students within Corporate Finance & Investment Banking, Technology Strategy & Product Management, and Marketing participated in an applied AI workshop led by the Wisconsin School of Business AI Hub. In just two hours, students were challenged to research a market, design new product concepts, build a business case, and present recommendations — all with AI integrated into each step of the process.
The experience demonstrated both the power and the limitations of AI in business decision‑making. Students saw how AI can accelerate market research, ideation, and financial modeling, while also learning the importance of validating outputs, questioning assumptions, and applying human judgment. The most compelling solutions emerged not from AI alone, but from students combining their own expertise with AI‑driven insights.
The workshop also introduced students to multiple AI tools and highlighted how different models excel at different tasks — a skillset increasingly expected by employers across finance and technology. This hands‑on experience reinforced a core message: the future of business isn’t about replacing human insight, but about pairing human intuition with AI’s speed and scale. Our students are developing the critical thinking, technical fluency, and adaptability needed to thrive in this evolving landscape. Access first year student Liam Hirsch’s blog article to read more about this workshop!
Select CFIB MBA Students Attend the AI Hub Board Meeting in Chicago
Three Corporate Finance & Investment Banking (CFIB) MBA students (pictured from left to right)— Andrew Sternaman, Ryan Naidu, and Kasey Morris, attended the Wisconsin School of Business AI Hub Board Meeting held at the University Club of Chicago in December. The students had a front-row seat to high-level strategic discussions about AI adoption, workforce transformation, and the shift from valuing technical skills to prizing intangible qualities like curiosity and problem-solving.
As part of the broader experience, the CFIB students also toured the Chicago offices of Google and mHub, gaining firsthand exposure to innovation in practice alongside discussions about how smaller organizations may have an advantage in the AI era due to their agility and ability to quickly learn from failures. You can access first year student Ryan Naidu’s AI Hub Board meeting reflection where he summarized his key takeaways.
Additionally, Ryan hosted two one-hour training sessions with fellow students demonstrating how to utilize multiple AI chatbots—including Claude, ChatGPT, Gemini, NotebookLM, and Perplexity—for cover letter writing and job interview preparation.
Advisory Board & Alumni News
Fall Advisory Board & Alumni Meeting Recap
In October, the Nicholas Center welcomed Advisory Board members and alumni back to campus for a focused day of connection and collaboration. The meeting opened with networking and a Center update outlining key program milestones and priorities, followed by our first student project presentation, which highlighted the applied learning and analytical rigor central to the Nicholas Center experience.
A major highlight of the morning was an interactive session with the Wisconsin School of Business AI Hub, led by Director Matt Seitz, who shared the Hub’s mission and facilitated a discussion on how AI is reshaping finance and corporate decision‑making. After a networking lunch, attendees returned for two additional student project presentations, offering board members and alumni the opportunity to engage directly with students’ work across valuation, strategy, and financial modeling.
The afternoon concluded with concurrent sessions: Advisory Board members participated in a strategy discussion focused on long‑term priorities, while students joined an alumni panel featuring Jake Smith, Mary Parmeter, and Shawn Dahlke. The panelists shared candid insights on career paths, recruiting, and early‑career growth, rounding out a productive and energizing day. We are grateful to our Advisory Board and alumni community for their continued partnership and support.
Alumni Spotlight: J.J. Liter, Class of 2021
J.J. Liter is a Manager in Project Finance at American Family Insurance and a 2021 CFIB MBA alumnus. J.J. brings extensive experience in strategic finance and data-driven decision-making. Prior to his MBA, J.J. worked in project management at Epic Systems, where he gained exposure to large-scale organizational operations. During his MBA program, J.J. completed an internship focused on strategic pricing at SC Johnson and participated in case competitions that strengthened his analytical and presentation skills. Today, J.J. leverages his expertise in cost-benefit analysis, financial modeling, and long-range budgeting to support strategic business decisions at American Family Insurance. J.J. holds an MBA alongside a certificate in Data Analytics from UW-Madison. Read J.J.’s alumni spotlight to learn more about his career journey!
WSB News
WSB Celebrating 125 Years
The Wisconsin School of Business is celebrating 125 years of business education excellence, having been established as one of the nation’s first business schools in 1900. To mark this milestone, WSB rang the closing bell at the New York Stock Exchange in October 2025, with Dean Vallabh Sambamurthy and distinguished alumni gathered to celebrate the school’s legacy of innovation and its growing influence in global finance. This anniversary honors both the school’s rich history and its forward-looking vision, embodied in the theme “A Legacy in Motion.”
WSB Kicks Off 125th Anniversary Tour with Strategic AI Vision
In September, Wisconsin School of Business launched its 125th anniversary celebration with events in Milwaukee and Chicago, where alumni and friends gathered to hear about the school’s bold future. Dean Vallabh Sambamurthy outlined a reimagined approach to industry relations that moves beyond traditional recruiting to create holistic partnerships involving real-world student projects, applied research, and customized leadership programs. Matt Seitz discussed how WSB’s AI Hub for Business is helping leaders leverage artificial intelligence for competitive advantage across productivity, functional excellence, and strategic differentiation, while Professor Jon Eckhardt presented UW–Madison’s new Wisconsin Entrepreneurship Hub, which takes a founder-focused approach to building concentrated communities of entrepreneurs across campus.
In November, Wisconsin School of Business leaders gathered with alumni at Minneapolis’ Guthrie Theater to celebrate the school’s 125th anniversary and discuss its bold future. Dean Vallabh Sambamurthy highlighted WSB’s historic achievements and outlined major strategic priorities, including embracing artificial intelligence, fostering entrepreneurial thinking, and deepening industry engagement to prepare students for modern business challenges. Matt Seitz, director of WSB’s AI Hub for Business, emphasized the transformative power of AI across industries and encouraged attendees to leverage this technology strategically, while also sharing opportunities for alumni to stay connected with the hub’s research, education initiatives, and upcoming AI Summit in April 2026.
Ground Truth: AI for Business Summit 2026
The Spring 2026 AI for Business Summit will take place at Memorial Union on the UW-Madison Campus on April 16-17, 2026. Hosted by the AI Hub for Business, this event will bring together leaders in business and academia to explore how AI is transforming business. This is the first event of its kind at WSB, bringing together executives, researchers, and top student talent to explore how AI is transforming business. The available registration options include: Industry, UW Alumni, UWEBC members, faculty, and students.
- Walk away with practical ways to deploy AI from leaders who’ve implemented at scale
- Hear keynotes from nationally recognized voices in AI business applications
- Learn evidence-based best practices from leading researchers
- Bring your questions and get real-time guidance on rapidly shifting trends
Connect with practitioners applying AI to real business challenges
Daniel Bauer Champions WSB’s Investment in AI Curriculum & Research
The Wisconsin School of Business continues to advance its leadership in AI education and research, as highlighted in a recent interview with Senior Associate Dean Daniel Bauer. Bauer outlines how WSB is integrating AI across programs—from deep‑learning and machine‑learning coursework in technical master’s degrees to a new required undergraduate class that builds AI fluency for all business students. He also emphasizes emerging graduate‑level offerings focused on leadership, psychology, and AI‑enabled decision‑making, along with the growing impact of the AI Hub for Business as a connector for teaching, research, and corporate partnerships. These efforts align closely with the skills our MBA students are developing and reflect WSB’s commitment to preparing future leaders to navigate and leverage AI across the business landscape.
Nicholas Center Admissions
Class of 2028 Recruitment
Our Class of 2028 MBA admissions are underway and we’re looking forward to welcoming a new cohort this coming fall! To be considered for our next application review, prospective students should submit their application by March 3rd!
Interested students can email us directly or connect with our Admission team. We encourage those interested to schedule a campus visit this Spring where candidates have the opportunity to meet current students and staff. Travel stipends are available for prospective students who live more than 200 miles away from campus.
Remaining Application Deadlines:
March 3rd, 2026
April 9th, 2026 (International applicant deadline)
June 4th, 2026 (Final deadline for domestic applicants)
| All applicants will be considered for merit aid based on the merits of their application. Merit aid is communicated at the time of admission. 99% of MBA students for the Classes of 2026-2027 received merit aid with remaining students receiving full funding through a company, the government, or the military. |
Ways to Support the Nicholas Center
Sponsor a Consulting Project
Each fall semester, CFIB MBA students work with a Corporate Sponsor who provides a project that has a finance and strategic element and high degree of complexity. Projects could also have operational, regulatory, governance and other elements. Students work on teams of 4-5 and typically begin their work in September and conclude in early December, depending on the complexity of the project, and their work is culminated with a professional presentation with the sponsor. Sponsors are also present on a weekly or bi-weekly basis to answer questions. There is no required fee to participate – contact Barb Bolens to discuss.
Join our Speaker Series
Our Speaker Series is part of a Current Topics in Finance class that all first year CFIB MBA students take during their fall and spring semester. We’re looking forward to bringing in additional finance speakers this coming fall and next spring to connect classroom learnings to real world application. Contact Barb Bolens or Andrea Sorenson to discuss your case study idea or topic proposal.
Mentor a Student
Each year, we pair our incoming CFIB students with an Alumni and Advisory Board member with a mentor who provides advice and support as the student begins the program and recruiting journey. Students are expected to initiate connections and conversations with their mentor. If interested in serving in this capacity, contact Barb Bolens to further discuss.
Give to the Nicholas Center
Making a financial contribution is one way to make an impact and help further the Nicholas Center’s mission. We welcome donations to the Don M. Condon and Linda M. Condon Graduate Fellowship Fund. Donations to this fund are used to provide financial support to students who exemplify Don’s spirit, commitment, and leadership in the field of corporate finance.
Engage on Social Media
The Nicholas Center is increasing its social media presence, and we’d love for you to connect with and follow our accounts on LinkedIn, or Instagram, to stay up on our news and other events. Click on the icon links below to connect.
Nicholas Center Contact Information
Barb Bolens, Director, email: barb.bolens@wisc.edu, ph. 414.530.0714
Andrea Sorenson, Assistant Director, email: andrea.sorenson@wisc.edu, ph. 608.262.1553
General Nicholas Center email: nicholascenter@wsb.wisc.edu