2024 Best Undergraduate Professors: Burcu Esmer, University of Pennsylvania, The Wharton School 

Burcu Esmer
University of Pennsylvania, The Wharton School 

“Dr. Esmer has taught me in a variety of settings, including virtually through Girls Who Invest, in person for the same program, and online and in person with Alt Finance. Her commitment to student success goes far beyond the classroom. During a particularly challenging time over the summer, while I was participating in Girls Who Invest, Dr. Esmer’s compassion and encouragement were incredibly meaningful to me. She not only excels in teaching technical skills but also demonstrates genuine care for her students, helping them navigate both personal and academic challenges. Her commitment to supporting free programs and her consistent presence in these educational spaces makes a significant difference. Dr. Esmer embodies the qualities of an outstanding educator—one who prepares students not just for their careers but also provides invaluable emotional and professional guidance.” – Anise Puckett

Burcu Esmer is an Academic Director and Senior Lecturer in Finance at University of Pennsylvania, The Wharton School.

Over her time at Wharton, Esmer has held various academic roles, starting as a Visiting Assistant Professor and advancing to senior positions, including Academic Co-Director of the Harris Family Alternative Investments Program.

Known for her engaging teaching style and use of real-world applications, Esmer teaches popular courses such as The Finance of Buyouts and Acquisitions and Advanced Topics in Private Equity to undergraduates, MBAs, and executives. Her dedication to teaching excellence has earned her Wharton’s Teaching Excellence Award in Undergraduate Teaching (2024, 2023, 2019) and Executive MBA Teaching (2024, 2023). In addition to her in-person courses, she also teaches in the widely acclaimed Wharton–Wall Street Prep Private Equity Certificate Program, where she serves as the Academic Director.

Her research delves into the world of alternative investments and corporate finance, with interests in governance, mergers and acquisitions, and private equity. Her work has been published in leading academic journals, such as The Accounting Review, Journal of Banking & Finance, and Applied Mathematical Modelling. Her research has earned recognition, including an Honorable Mention for the Best Paper Award at the FARS Conference. 

She works closely with various non-profit organizations that aim to increase diversity in asset management and alternative investments. She is the Academic Director of Girls Who Invest Summer Intensive Program and Wharton-AltFinance Institute. She has served on the advisory board of Girls Who Invest since 2018. 

A frequent presenter and keynote speaker at academic and industry conferences worldwide, Esmer’s insights are regularly featured in publications such as Wharton Magazine, Marketplace, and Financial Times’ FundFire Alts. She is also a member of the American Finance Association and the European Finance Association, furthering her engagement with the global finance community.

BACKGROUND

At current institution since what year? 2017

Education: PhD in Finance and MA in Economics, Tippie College of Business, The University of Iowa; B.Sc. in Economics and Minor in Mathematics, Middle East Technical University, Türkiye

List of Undergraduate courses you teach: The Finance of Buyouts and Acquisitions and Advanced Topics in Private Equity

TELL US ABOUT LIFE AS A BUSINESS SCHOOL PROFESSOR

I knew I wanted to be a business school professor when … 

My professor asked me to serve as a teaching assistant for his freshman course when I was just a sophomore. I held recitation hours, guiding students through challenging concepts, and realized my passion extended beyond research—it was about sharing knowledge (and a few good laughs) in the classroom. Seeing a student’s “lightbulb moment” is a thrill, and I knew this path would always keep me energized.

What are you currently researching and what is the most significant discovery you’ve made from it?

I’m currently researching how private equity funds create operational value within their portfolio companies. With rising interest rates and growing competition, Private Equity firms are shifting focus from traditional financial levers to operational improvements as the primary driver of returns. One of the most intriguing trends I’ve observed is the rise of dedicated portfolio operations teams—PE firms are increasingly investing in specialized teams to enhance productivity, reduce costs, and optimize resources across their companies. My initial results show that this shift toward operational value creation is paying off, with firms that prioritize these strategies achieving higher internal rates of return. This approach not only boosts financial performance but also has lasting benefits for the businesses they acquire, creating more resilient and sustainable companies.

If I weren’t a business school professor, I’d be …  

I’d be involved in public policy, working to create value and make a positive impact on a large scale. It’s important to me to contribute to initiatives that improve society and benefit the greater community. 

What do you think makes you stand out as a professor

The words that stand out from my teaching evaluations are ‘enthusiastic’ and ‘caring.’ The moment I sense even a hint of boredom in the classroom, I switch things up or crack a joke. Just yesterday, a student mentioned that, despite the challenging material, she never feels bored in class—not even for a minute. That was one of the best compliments I’ve received!

One word that describes my first time teaching: 

Exhilarating

Here’s what I wish someone would’ve told me about being a business school professor:

I wish someone would’ve told me that the role is even more fulfilling and dynamic than I imagined. You’re constantly learning and growing alongside your students, which keeps every day fresh and inspiring.

Professor I most admire and why:

That would be my father. Although he wasn’t a professor by title, he was frequently invited to give guest lectures at universities, and would take me along to his sessions. I was always inspired by how he connected with students, sharing his knowledge in such a warm and caring way. He taught me the importance of approaching work with passion—he would sing every morning as he got ready for his job. As a bank executive, he often spoke about the loans he provided to small and medium-sized enterprises that would later grow to become major employers in the community. His dedication to making a positive impact and his genuine love for his work left a lasting impression on me.

TEACHING BUSINESS SCHOOL STUDENTS

What do you enjoy most about teaching business students?

Witnessing the moment when a complex financial concept clicks for them. It’s incredibly rewarding to see students gain confidence in their abilities, knowing they’ve acquired practical skills that will help them succeed in the business world.

What is most challenging?

Teaching courses that are both highly applicable to the real world and inherently challenging presents unique demands. Making complex concepts accessible and engaging for students with diverse backgrounds and learning styles requires constant adaptation and innovation in my teaching methods. I strive to bridge theory and practice in a way that resonates with everyone.

In one word, describe your favorite type of student: 

Curious

In one word, describe your least favorite type of student: 

Apathetic

When it comes to grading, I think students would describe me as …

Fair and supportive—I want them to succeed and believe in their ability to meet high standards, so I aim to provide clear guidance and constructive feedback to help them get there.

LIFE OUTSIDE THE CLASSROOM

What are your hobbies?

I have a range of hobbies that keep me energized and creative. I love dancing, especially Latin dancing, and was even a dance instructor back in college! Traveling and spending time in nature are my favorite ways to recharge and find inspiration. I also enjoy painting, which gives me a wonderful outlet for creativity.

How will you spend your summer?  

Mostly working, with time set aside to travel (and maybe get lost in some new place along the way).

Favorite place(s) to vacation:

The amazing beaches in Türkiye or any tropical island! I’m convinced the sun shines a little brighter when you’re near the sea.

Favorite book(s):

I read finance and investment-related books for my work, but I find true enjoyment in philosophical novels like The Alchemist by Paulo Coelho. (Confession: as a teenager, I thought I’d become a philosopher!) These books offer a refreshing perspective and remind me of the value of personal growth, exploration, and following one’s own path—insights that complement my professional life in meaningful ways.

What is currently your favorite movie and/or show and what is it about the film or program that you enjoy so much?

I enjoy thought-provoking movies and TV series, especially those with a blend of mystery and a touch of comedy. Sherlock Holmes is a great example—it combines clever storytelling with intrigue and wit, making it both intellectually stimulating and thoroughly entertaining.

What is your favorite type of music or artist(s) and why?

Funny thing you asked—music is always on in my life! What I play depends on my mood and what I’m working on. When I’m studying, it’s mostly arias, classical music, or indie tracks—anything with minimal lyrics to keep my focus. At other times, you might catch me listening to lively Latin music or nostalgic Turkish pop from the ’90s. Each genre brings its own energy and inspiration! (at this moment, I am listening to Andrea Bocelli)

THOUGHTS AND REFLECTIONS

If I had my way, the business school of the future would have much more of this …

Experiential learning. In business schools, everything we study and teach has direct relevance to real-world businesses and markets. By integrating more hands-on, “learning by doing” opportunities into the curriculum, we can better prepare students to become tomorrow’s leaders—ones who are not only knowledgeable but also skilled in applying that knowledge in real business contexts.

In my opinion, companies and organizations today need to do a better job at …

…focusing on holistic value creation—not just for shareholders but also for employees, customers, and society as a whole. Companies should strive to create a work environment where employees can thrive and bring their best selves to work. At the same time, they should prioritize making their products and services genuinely beneficial, contributing positively to society and addressing real needs. By aligning business goals with the well-being of all stakeholders, organizations can build a more impactful future.

I’m grateful for … 

…every thread in the tapestry of my life that has shaped who I am today. I’m especially thankful for a wonderful family who instilled in me the values of hard work, kindness, and trustworthiness. Life has also brought me an incredibly supportive husband, which I consider a true gift. And I’m grateful for every student who challenges me, questions me, and reminds me why I chose this path in the first place (students reading this, please keep it reasonable!)

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