Shannon Rinehart (center) takes advantage of the Drake University/Des Moines Corporate Partnership Scholarship through an internship at Principal Financial Group under the supervision of Jerry Douglas (left) and Stacy Havenridge.

The Urban Advantage
Drake's location equals career connections
By Michelle Rubin

Add to the credit side of the Drake academic curriculum one College of Business Administration, plus opportunities to work in Des Moines' overflowing business and insurance markets."

Though that quote originally appeared in the 1968 edition of The Quax, its sentiment rings just as true today. In fact, the wealth of internship and job opportunities available in Drake's hometown is but one way in which the university's location enhances its students' educational experience and benefits the business community.

From large corporations such as Principal Financial, Meredith Corporation and Pioneer Hi-Bred Inter-national, to companies like Iowa Realty, the Des Moines Playhouse and Loffredo Fresh Produce, to state government departments - all located within commuting distance of campus - CPBA students have access to a wide variety of professional opportunities. In turn, the university contributes to the community in a variety of ways, such as students comprising a qualified part-time workforce or the Small Business Development Center, the Kelley Insurance Center and the John Pappajohn Entrepreneurial Institute serving as resources for
the business community.

PART-time professionals
One place where the connection between Drake and Des Moines' business community is most directly felt by students is the office
of CBPA assistant dean and internship coordinator, Mary Edrington.

While CBPA students are not required to complete internships, many students in search of experience and supplemental income
take advantage of Edrington's office. And at Drake, says Edrington, "location plays a big role in allowing students to work during the school year. Many students need to work while in school, and our philosophy is that if they have to work, they might as well do some-thing that relates to their field."

Des Moines' vibrant business community allows students to complete internships during the school year as well as during the summer, giving students the chance to hold two or three internships before graduating. Edrington adds that many employers offer flexible hours for students, allowing them to make decent wages while having time for school.

Gaining valuable work experience while in school is something Edrington stresses to prospective students, noting that some of these opportunities turn into offers of permanent, full-time employment. "It's a lot easier to work in one's field when we're in the state's
largest and capital city. We're the major university in one of the top insurance headquarters of the world."

Shannon Rinehart, an accounting, finance, international business junior from Boone, IA, is the recipient of the Drake University/Des Moines Corporate Partnership Scholarship, through which she works as an intern at Principal Financial Group 16 hours a week. Through the program, Rinehart receives a full-ride scholarship from Principal while working for the company, and will work there when she graduates.

Rinehart, who chose Drake because of its reputation among potential employers, says that such an opportunity is one of the many ways Drake lives up to her expectations. "I can work during the school year and gain valuable work experience that allows me to figure out where I want to take my career while I'm still in school," she says, adding, "and the pay is much better than in other part-time jobs."

A community asset
While Drake students gain advantage from the university's relationships with the business community, area companies benefit from the pool of qualified, motivated workers from CBPA. Edrington explains, "The businesses also gain young energy and mentoring opportunities."

Drake alumni who have hired Drake interns agree.

Jeff Lorenzen, GR'89, of Investors Management Group, has hired student interns from Drake, as well as other schools. "With the CBPA so close, we have access to a well-qualified, well-rounded pool of potential employees. Drake's proximity also allows us to get qualified interns during the school year, when it's hard to get students from the University of Iowa in Iowa City, or even Iowa State University in Ames."

Lorenzen is a member of the board that advises students on the Krause Challenge, in which student investors from Iowa universities compete with one another to produce the highest rate of return on their portfolios (see story, page 5). He points to the financial investment class that drives Drake's challenge efforts as a prime example of how the university produces the types of candidates companies such as IMG need.

Value-added education
Brad Meyer, associate professor of management and international business, feels that internship opportunities help students in the classroom. "I especially like to have students who are in or have had internship experiences. Because they see how the coursework applies, they have a much higher level of interest in the class material."

The Drake-Des Moines business community partnership has other advantages, as well. Drake alumni serve as visiting professors and guest speakers or through advisory boards such as the Krause Challenge. And many professors take advantage of the campus's proximity to real-world examples.

For instance, Meyer and other professors often take students to area manufacturing companies for plant tours. "Des Moines is not a manufacturing town, but there is more manufacturing here than what one might think," he says. "Most Drake students don't see themselves as going into manufacturing, but they all find a plant tour to be very fascinating."

Other classes have involved students working with off-campus clients. For instance, one marketing campaign class is developing a marketing plan for a local non-profit and last year worked with Principal's E-Bank. Other classes use case studies from local businesses.

For Rinehart, Drake's location definitely has proven to be a bonus. "All my friends at other schools - even Iowa State University in
Ames - wish they had the opportunities that we have here."

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