Interview with Peter Wysocki
Moses Lee
Issue date: 4/23/01 Section: Student Life
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Professor Peter Wysocki asked me during class one day: “Moses, aren’t you going to write up a flattering article on me?” To which I replied sarcastically, “Well, what would I write?” OK, all jokes aside, there is plenty to write about accounting professor Peter Wysocki. For one thing, he has somehow managed to make the dry subject of accounting “somewhat” exciting (no offense to those concentrating in accounting, but the material isn’t the most engaging).
For me, professor Wysocki was the sole reason I took Accounting 312 this past semester. BBA2s told me first semester that, “Accounting 312 is a must-take, regardless of your concentration. The professor is awesome.” No wonder there were 50-plus students on the waitlist for his three sections.
Amidst his busy teaching schedule, snowboarding trips to Switzerland, visits to Washington D.C., and other random excursions, I had the grand opportunity to interview this year’s BBA teaching excellence award winner, Peter Wysocki.
MSJ: What were you like as an undergrad?
PW:I don't think I have really changed that much from my undergrad days as an Engineering Physics major. Yes, Engineering Physics … it was either viewed as the ultimate in "geekdom" or "hipness". Therefore, the answer to your question is really a matter of opinion. If you think that I am a "geek" today, then I was definitely a "geek" as an undergrad. On the other hand, my colleagues have informed me that some BBAs actually think I am pretty "hip". From the viewpoint of these students, I was probably a "hip geek" as an undergrad.
MSJ: Before coming to the UMBS, what were you doing?
PW:Three years ago I joined the Accounting Department at UMBS after completing my PhD in Accounting and Finance at the University of Rochester. Before grad school, I was an economic analyst in Toronto, Canada.
MSJ: What has been your most memorable moment while teaching at the UMBS?
PW:About a year ago, I had completed my teaching for the day and felt a certain amount of satisfaction about conveying knowledge to my students. As I left the classroom, a student stopped me and said that he was pretty distraught about his I-bank interview earlier in the day. For some reason, the I-bank interviewer sat in stunned silence for several minutes after hearing the student's response to the standard question, "What company would you recommend as an investment for the coming year, and why?" I reassured the student that there was really no wrong answer to this question. The student was very relieved and proudly stated, "I recommended the S&P500 because it is a very risky company!" I also sat in stunned silence for several minutes.
MSJ: What is your advice for BBA2s entering the job market right now?
PW:I recommend that new graduates continue to invest in options for the future. For example, they should take the CFA (Certified Financial Analyst) courses and exams, complete the CA exam, or take the GMAT or LSAT tests in preparation for Grad School (while they are still in the study mode). In other words, after starting their jobs, they should continue to invest in low-cost options that could become very valuable in the future!
MSJ: As summer nears, many BBA1s are still without internships. What is your suggestion for those BBA1s?
PW:There are a number of great options for BBA1s: (1) Investigate opportunities to become a Summer Research Assistant for a professor at the University of Michigan. You will learn a great deal and, as an added bonus, you get to enjoy Ann Arbor when it is actually sunny outside! (2) Beef up your resume by volunteering for any number of high profile organizations. (3) Relax, travel or just enjoy your freedom. If you choose this path, you will not regret it! You are going to be working for the next 40 years … so why rush into it now!
MSJ: With your knowledge and understanding of accounting, you could have probably gotten a very high paying job at an investment bank. Why did you decide to teach?
PW:They say that variety is the "spice of life" and I definitely abide by this axiom. I gravitated to academics because it offers a continually changing set of challenges and rewards. I love teaching and interacting with students, but boredom would set in if I taught all the time. I also derive a great amount of satisfaction from research and interacting with my academic colleagues, but boredom would also set in if I only did research. The great thing about an academic job is that you get to do both!
MSJ: You recently won the BBA teacher of the year award. How much does this mean to you?
PW:I was both surprised and honored by this distinction. I know that the BBAs are a very smart, discerning, and demanding group of consumers. However, I often find it hard to gauge if students are gazing at me with "rapt attention" or if they are "bored out of their skulls." The teaching award means that my lectures don't put everyone to sleep.
MSJ: Let’s say you could have one whole day to yourself. That means no work or responsibilities. How would you spend that day?
Sleeping.
MSJ: How would you describe your sense of humor?
PW:Some have said that my humor is a classic mix between old-time vaudeville and new-age slapstick. On the other hand, I would characterize it as rather dry and sometimes sarcastic.
MSJ: Who has been the most influential person in your life?
PW:My parents. They are great role models.
MSJ: What’s your personal stock pick for 2001?
PW:All evidence to the contrary, I am actually a "passive tax-managed indexer." However, given that the rules of the pundit game (i.e. I put up no money and then parade around if my pick succeeds or skip town if things turn south), I would recommend loading up on "way out of the money" call options on MSFT.
MSJ: As a teacher, what do you really want to impart upon your students?
PW:Unfortunately, far too many university classes are exercises in memorizing buzz words and then regurgitating them on exams. I try to de-emphasize these elements in my classes and try to promote critical thinking. I really want students to analyze a problem, question the "facts,” and not take things at face value.
For me, professor Wysocki was the sole reason I took Accounting 312 this past semester. BBA2s told me first semester that, “Accounting 312 is a must-take, regardless of your concentration. The professor is awesome.” No wonder there were 50-plus students on the waitlist for his three sections.
Amidst his busy teaching schedule, snowboarding trips to Switzerland, visits to Washington D.C., and other random excursions, I had the grand opportunity to interview this year’s BBA teaching excellence award winner, Peter Wysocki.
MSJ: What were you like as an undergrad?
PW:I don't think I have really changed that much from my undergrad days as an Engineering Physics major. Yes, Engineering Physics … it was either viewed as the ultimate in "geekdom" or "hipness". Therefore, the answer to your question is really a matter of opinion. If you think that I am a "geek" today, then I was definitely a "geek" as an undergrad. On the other hand, my colleagues have informed me that some BBAs actually think I am pretty "hip". From the viewpoint of these students, I was probably a "hip geek" as an undergrad.
MSJ: Before coming to the UMBS, what were you doing?
PW:Three years ago I joined the Accounting Department at UMBS after completing my PhD in Accounting and Finance at the University of Rochester. Before grad school, I was an economic analyst in Toronto, Canada.
MSJ: What has been your most memorable moment while teaching at the UMBS?
PW:About a year ago, I had completed my teaching for the day and felt a certain amount of satisfaction about conveying knowledge to my students. As I left the classroom, a student stopped me and said that he was pretty distraught about his I-bank interview earlier in the day. For some reason, the I-bank interviewer sat in stunned silence for several minutes after hearing the student's response to the standard question, "What company would you recommend as an investment for the coming year, and why?" I reassured the student that there was really no wrong answer to this question. The student was very relieved and proudly stated, "I recommended the S&P500 because it is a very risky company!" I also sat in stunned silence for several minutes.
MSJ: What is your advice for BBA2s entering the job market right now?
PW:I recommend that new graduates continue to invest in options for the future. For example, they should take the CFA (Certified Financial Analyst) courses and exams, complete the CA exam, or take the GMAT or LSAT tests in preparation for Grad School (while they are still in the study mode). In other words, after starting their jobs, they should continue to invest in low-cost options that could become very valuable in the future!
MSJ: As summer nears, many BBA1s are still without internships. What is your suggestion for those BBA1s?
PW:There are a number of great options for BBA1s: (1) Investigate opportunities to become a Summer Research Assistant for a professor at the University of Michigan. You will learn a great deal and, as an added bonus, you get to enjoy Ann Arbor when it is actually sunny outside! (2) Beef up your resume by volunteering for any number of high profile organizations. (3) Relax, travel or just enjoy your freedom. If you choose this path, you will not regret it! You are going to be working for the next 40 years … so why rush into it now!
MSJ: With your knowledge and understanding of accounting, you could have probably gotten a very high paying job at an investment bank. Why did you decide to teach?
PW:They say that variety is the "spice of life" and I definitely abide by this axiom. I gravitated to academics because it offers a continually changing set of challenges and rewards. I love teaching and interacting with students, but boredom would set in if I taught all the time. I also derive a great amount of satisfaction from research and interacting with my academic colleagues, but boredom would also set in if I only did research. The great thing about an academic job is that you get to do both!
MSJ: You recently won the BBA teacher of the year award. How much does this mean to you?
PW:I was both surprised and honored by this distinction. I know that the BBAs are a very smart, discerning, and demanding group of consumers. However, I often find it hard to gauge if students are gazing at me with "rapt attention" or if they are "bored out of their skulls." The teaching award means that my lectures don't put everyone to sleep.
MSJ: Let’s say you could have one whole day to yourself. That means no work or responsibilities. How would you spend that day?
Sleeping.
MSJ: How would you describe your sense of humor?
PW:Some have said that my humor is a classic mix between old-time vaudeville and new-age slapstick. On the other hand, I would characterize it as rather dry and sometimes sarcastic.
MSJ: Who has been the most influential person in your life?
PW:My parents. They are great role models.
MSJ: What’s your personal stock pick for 2001?
PW:All evidence to the contrary, I am actually a "passive tax-managed indexer." However, given that the rules of the pundit game (i.e. I put up no money and then parade around if my pick succeeds or skip town if things turn south), I would recommend loading up on "way out of the money" call options on MSFT.
MSJ: As a teacher, what do you really want to impart upon your students?
PW:Unfortunately, far too many university classes are exercises in memorizing buzz words and then regurgitating them on exams. I try to de-emphasize these elements in my classes and try to promote critical thinking. I really want students to analyze a problem, question the "facts,” and not take things at face value.
