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14 Things That Every Wall Street Newbie Needs to Know For Internship Success

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Nowadays the best way to prepare for an internship is to know as much about the experience BEFOREHAND, as possible. There are so many little things that matter in a Wall Street internship…..and the more educated you are, the better off you’ll be.

Every minute in the office matters and every little bit of knowledge puts you one cut above the next man. In this dog eat dog world we live in its always good to know how you should and shouldn’t act on Wall Street if you hope to one day be a permanent staff member, making plenty of cash in the Boiler Room. We share with you 14 Things That Every Wall Street Newbie Should Know.

 

Wall Street Internship Advice

 

#1: Cold calling is hell

We all know it because we’ve all done it. Asking strangers for money on the phone is probably the worst thing you’ll do in your career, but it builds tenacity and forces you to develop an enormous tolerance for rejection.

If you’re perceptive, cold calling will teach you the one sacred truth you need to succeed in this world: Life is a straight-up numbers game, baby.

#2: Beware of egos

Lots of people on Wall Street have enormous egos. When they talk to you, an intern, they don’t actually expect you to speak to them in return. You just need to listen and nod attentively—like you’re hearing the great riddles of the universe solved for your benefit. This may sound demeaning but it isn’t. Not having to talk much or commit to anything is one of the biggest benefits of your internship.

#3: Your boss will lend you money

It sounds shocking, but it’s true. Not only that, he’ll feel good about it because it will make him feel powerful and strong. (For an explanation, see next item.)

#4: Avoid eye contact on the street

Never make eye contact with anyone on the street carrying a clipboard. Even if you come from one of the really polite sections of the country, like the South, you’ll eventually adjust to it.

Just stare at the sidewalk when you walk by anyone who looks like they may be conducting a survey or collecting signatures. (Note: You’ll know when you’ve gotten it right when you’re walking to Penn Station and you get ignored by the guys handing out discounted tickets to the Empire State Building: With enough practice, they’ll know you’re not a tourist from a hundred yards away.)

#5: You are not your boss’ friend

Drinking with your managing director on a Thursday night will only create a false sense of intimacy and equality: Your MD will feel compelled to overcompensate for drunkenly telling you about his fraternity days by icily shunning you on Friday morning.

#6: Your boss knows when you’re hungover.

Nobody buys it when you’re throwing up in the bathroom on a Friday morning with the “Stomach Flu”. Not for one second. We were young once too.

#7: Teamwork = interns make copies

When your boss tells you “It doesn’t really matter what your role is—it just matters that you’re part of the team” he’s struggling to keep a straight face.

#8: Prepare to be disliked

Some people will dislike you if you look like you were one of the cool kids in high school—especially if they weren’t.

#9: You will be judged by your school

People do judge you by where you went to college. (Paradoxically, this is especially true of people who are a little ashamed about where they went to school. Those who attended elite liberal arts colleges typically harbor no illusions about the practical value of their education.)

#10: You’re not as funny as Bess Levin.

Circulating a “comical” email that makes fun of your coworkers as a homage to Bess will get you fired nearly as fast as showing up to the office drunk.(For example, don’t do this.)

#11: You’re not as clever as John Carney

When Carney takes an outrageously contrarian position , he’s got a file cabinet full of GAO statistics and case law citations to support his argument. When you take the same heterodox position, you’ll sound hopelessly uninformed—or just plain unhinged.

#12: How to know when it’s bedtime

After 2 a.m. nobody will remember to text you the address of the bar they’re meeting at.

#13: Beware of social media.

Old people may not read your Tweets—but if you say anything scandalous the social networking rumor mill will deliver the news to your boss almost as fast as Wi-Fi. (Seriously, I think Julia La Roche is Facebook friends with every third intern on Wall Street: She’s so plugged in it’s scary.)
 

#14: This is as good as it gets

As hard as this may be to believe, people are actually being nice to you. When you return as a first-year associate—and they’re paying you real money—it will be a different story because then they’ll own your soul.

9 Powerful Quotes That’ll Inspire You to Be Your Own Boss

 

Article By: BusinessInsider.com

 

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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Why One-Size-Fits-All Leadership Will Always Fail (and What Works Instead)

The surprising truth about leadership styles that can make or break your team’s success.

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Struggling to keep your team engaged? Here’s how leaders can turn frustrated employees into loyal advocates.

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In workplaces around the world, there’s a growing gap between employers and employees and between superiors and their teams. It’s a common refrain: “People don’t leave companies, they leave bad bosses.”

While there are, of course, cases where management could do better, this isn’t just a “bad boss” problem. The relationship between leaders and employees is complex. Instead of assigning blame, we should explore practical solutions to build stronger, healthier workplaces where everyone thrives.

Why This Gap Exists

Every workplace needs someone to guide, supervise, and provide feedback. That’s essential for productivity and performance. But because there are usually far more employees than managers, dissatisfaction, fair or not, spreads quickly.

What if, instead of focusing on blame, we focused on building trust, empathy, and communication? This is where modern leadership and human-centered management can make a difference.

Tools and Techniques to Bridge the Gap

Here are proven strategies leaders and employees can use to foster stronger relationships and create a workplace where people actually want to stay.

1. Practice Mutual Empathy

Both managers and employees need to recognize they are ultimately on the same team. Leaders have to balance people and performance, and often face intense pressure to hit targets. Employees who understand this reality are more likely to cooperate and problem-solve collaboratively.

2. Maintain Professional Boundaries

Superiors should separate personal issues from professional decision-making. Consistency, fairness, and integrity build trust, and trust is the foundation of a motivated team.

3. Follow the Golden Rule

Treat people how you would like to be treated. This simple principle encourages compassion and respect, two qualities every effective leader must demonstrate.

4. Avoid Micromanagement

Micromanaging stifles creativity and damages morale. Great leaders see themselves as partners, not just bosses, and treat their teams as collaborators working toward a shared goal.

5. Empower Employees to Grow

Empowerment means giving employees responsibility that matches their capacity, and then trusting them to deliver. Encourage them to take calculated risks, learn from mistakes, and problem-solve independently. If something goes wrong, turn it into a learning opportunity, not a reprimand.

6. Communicate in All Directions

Communication shouldn’t just be top-down. Invite feedback, create open channels for suggestions, and genuinely listen to what your people have to say. Healthy upward communication closes gaps before they become conflicts.

7. Overcome Insecurities

Many leaders secretly fear being outshone by younger, more tech-savvy employees. Instead of resisting, embrace the chance to learn from them. Humility earns respect and helps the team innovate faster.

8. Invest in Coaching and Mentorship

True leaders grow other leaders. Provide mentorship, career guidance, and stretch opportunities so employees can develop new skills. Leadership is learned through experience, but guided experience is even more powerful.

9. Eliminate Favoritism

Avoid cliques and office politics. Decisions should be based on facts and fairness, not gossip. Objective, transparent decision-making builds credibility.

10. Recognize Efforts Promptly

Recognition often matters more than rewards. Publicly appreciate employees’ contributions and do so consistently and fairly. A timely “thank you” can be more motivating than a quarterly bonus.

11. Conduct Thoughtful Exit Interviews

When employees leave, treat it as an opportunity to learn. Keep interviews confidential and use the insights to improve management practices and culture.

12. Provide Leadership Development

Train managers to lead, not just supervise. Leadership development programs help shift mindsets from “command and control” to “coach and empower.” This transformation has a direct impact on morale and retention.

13. Adopt Soft Leadership Principles

Today’s workforce, largely millennials and Gen Z, value collaboration over hierarchy. Soft leadership focuses on partnership, mutual respect, and shared purpose, rather than rigid top-down control.

The Bigger Picture: HR’s Role

Mercer’s global research highlights five key priorities for organizations:

  • Build diverse talent pipelines

  • Embrace flexible work models

  • Design compelling career paths

  • Simplify HR processes

  • Redefine the value HR brings

The challenge? Employers and employees often view these priorities differently. Bridging that perception gap is just as important as bridging the relational gap between leaders and staff.

Treat Employees Like Associates, Not Just Staff

When you treat employees like partners, they bring their best selves to work. HR leaders must develop strategies to keep talent engaged, empowered, and prepared for the future.

Organizational success starts with people, always. Build the relationship with your team first, and the results will follow.

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