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1. Let's get you settled in.
Wall Street's summer internship is officially here as investment banks open up their doors to eager college students.
The 10-week internship program represents a critical juncture for aspiring Wall Streeters. Success means leaving with a full-time job offer for the following summer.
This year's class has additional pressure, as a dealmaking drought means banks might be a bit more selective in who they ask back.
From my perspective, ensuring you nab a full-time offer is a lot about being average. I realize that might sound sacrilegious to a bunch of type A, ultra-competitive wannabe Wall Streeters, but standing out poses risk
Obviously, you don't want to be viewed as someone at the bottom of the barrel.
But shooting for the stars comes with its own challenges too. Banks were built on red-tape and corporate politics. Trying to "wow" everyone could end up backfiring. (Don't believe me? Read up on the tall poppy syndrome.)
"Don't use seven words when four will do. Don't shift your weight. Look always at your mark but don't stare. Be specific but not memorable. Be funny but don't make him laugh. He's got to like you then forget you the moment you've left his sight."
3. Everything you ever wanted to know about moving to the public cloud but were too afraid to ask. Leo Bogdanov, KKR's head of engineering for digital client experiences, details the things he wish he knew before building out a new client portal on AWS. Check out the three biggest lessons learned.
4. One to watch at Goldman Sachs. Nishi Somaiya, the global head of private banking, lending, and deposits at Goldman Sachs, got a shoutout from John Waldron, the bank's COO, during a recent speech. The exec described her as "one of our young, talented next-generation leaders." Here's how Somaiya fits into Goldman's wider strategy.
5. Inside the fintech effect at JPMorgan. Daniel Pinto, the bank's COO, said the threat that digitally focused startups pose to big banks pushed JPMorgan to look into expanding its consumer-banking footprint outside the US. More on that strategy.
6. Hedge funds are now rolling out comp packages reportedly worth more than $100 million. The war for talent among multi-strategy firms like Millennium, Citadel, and Balyasny has reached a fever pitch, with eye-watering salaries being offered up. Why the buy side might be the best side.
9. Most family offices don't seem to be very good at the most important part of their job. The majority of family offices said they don't have a wealth succession plan in place, per a UBS survey, despite acknowledging that is kind of the whole reason they exist. Why no one wants to tell the ultra-rich how to pass their fortunes to their heirs.
10. Why you're always tired, and how to fix it. We've got six things that might be causing you to feel a bit out of it, and how to get back on track. Read more here.
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