(FLASH FRIDAY is a weekly content series looking at the past, present and future of capital markets trading and technology. FLASH FRIDAY is sponsored by Instinet, a Nomura company.)
Rich Handler, chief executive of Jefferies Financial Group, handed out some advice to the 361 global analyst and associate summer interns who are joining the investment bank this month, with hopes of making a career on Wall Street.
Handler said the most important part of internships (and business) is building relationships, both with the full-time team and other interns.
“While you are working hard to please everyone, never forget that it is the human connection that matters the most,” he said. “The people who are self-aware, empathetic, strong communicators, enjoyable to be around AND are highly competent are the ones that build the strongest relationships.”
His advice also included not getting sucked into jumping onto the “finance treadmill” too early, choosing integrity, having a life, having fun and also having perspective if they do not receive a full-time offer.
Another user on X agreed that “relationship building is the core foundation for any career in finance.”
Boring_Business said: “for most MDs, their key value add comes purely from their rolodex. it’s a game of ‘who do you know and can you convince them to trust your judgement?’ the excel and powerpoint skills you learn as an associate or analyst quickly becomes obsolete”
A first-year analyst also had some advice for summer interns on the investment banking forum at Wall Street Oasis, which included asking as many questions as early as possible: “They will not care how stupid the question might be, especially out the gates.
With all the new things you’ll have thrown at you, it’s completely reasonable to blank on some of it, even the simplest things. Get the questions in early, and you’ll be able to demonstrate you learn quickly and understand material by the end of the 10 weeks.”
The analyst also said they should keep a good attitude and be sociable with the team : “Go out on the weekends. Enjoy the overpaid intern life. Only got 10 weeks – don’t waste them.”
Good advice for life.
