Wall Street pay dilemma - UBS approach to unvaxxed - General Atlantic's competitive internship
On the agenda today:
- Take a look inside an exclusive undergrad internship with a 2% acceptance rate.
- UBS staff who don't want to get vaccinated will be allowed to work from home.
- Wall Street's pay raises have some employees feeling left out.
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A quick programming note: there will be no
Now, let's get started.
Each year, more than 500 students apply for an internship with General Atlantic - and typically only six to eight interns are selected. Those who are tapped for the coveted program help the $65 billion growth-equity investor source new deals. More on the program with a 2% acceptance rate.
UBS CEO Ralph Hamers said employees who don't want to get the COVID-19 vaccine can apply to work from home, adding that two-thirds of UBS jobs can be done remotely. Get the latest on the firm's hybrid approach.
Pay raises are making
Hum Capital, a fintech that uses AI to match investors and private companies looking to fundraise, raised its $9 million Series A on Tuesday. The New York-based startup used this 11-page pitch deck to captivate investors.
Plus, check out our database of pitch decks that fintech founders have used to sell their vision.
Hedge funds like AQR, Bridgewater, Citadel, D.E. Shaw, Point72, and Two Sigma are constantly competing for top talent in the industry, and dole out hefty salaries to lure in the best candidates (base salaries at nearly all of the firms break six figures). We analyzed data from major hedge funds to find out how much they pay their engineers, associates, and researchers.
By pitching itself as an alternative to consulting giants like McKinsey, staffing platform Catalant Technologies has raised millions from investors like Morningside CEO Gerald Chan and Mark Cuban. See the slides Catalant used to win over investors.
As interest in blank-check deals dwindles, a SPAC sell-off has destroyed $75 billion in value over the past six months. Per WSJ, some 75% of the 137 deals that closed by mid-February have fallen below their initial listing price. Get the full rundown here.
On our radar:
- Many insiders are saying Yale missed an opportunity to add diversity to its iconic $31 billion endowment.
- Ray Dalio's hedge fund is at risk of being dropped by a California employee pension fund after more than a decade of weak returns. A look at what we know so far.
- The FTC just fined Richard Fairbank, CEO of Capital One, for violating antitrust laws.
- Bloomberg reports that while banks are pushing for vaccinations, they haven't gone so far as to adopt policies that would clash with states like Texas.
- Adani Ports share price tumbles due to poor results, Myanmar exit
- Instagram now lets everyone add links to Stories — here’s how to use it
- Cognizant faces the worst attrition rate in the industry, hires record number of employees to fill the gap
- There’s a new jingle in town as Swiggy uses the power of music to connect with its audience and establish itself as a last-minute Genie coming to your rescue
- India starts probe into Facebook’s algorithm, seeks info on moderation process