Success Advice

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

Published

12 years ago

Jul 21, 2011

Joel Brown (Founder of Addicted2Success.com)

Image Credit: Unsplash

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.

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Article By: BusinessInsider.com

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Joel Brown (Founder of Addicted2Success.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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20 Ways You Can Become a Powerful Communicator

Published

2 weeks ago

Jan 25, 2023

Joel Brown (Founder of Addicted2Success.com)

Some people seem to naturally know how to effectively communicate in a group setting. They can express themselves clearly and listen attentively without dominating the conversation.

Being a powerful communicator is important for several reasons, including building and maintaining relationships, achieving goals, resolving conflicts, improving productivity, leading and influencing others, advancing in your career, expressing yourself more confidently and authentically, and improving your mental and emotional well-being. Effective communication is an essential life skill that can benefit you in all aspects of your life.

But, don’t worry if you don’t naturally possess this skill, as effective communication is something that can be developed with practice, planning and preparation.

1. Listen actively: Practice active listening by giving your full attention to the speaker and responding to what they are saying.

2. Use “I” statements: Speak from your own perspective and avoid placing blame or making accusations.

3. Avoid assumptions: Don’t make assumptions about what the other person is thinking or feeling.

4. Be clear: Express your thoughts and feelings clearly and concisely by getting to the point and avoid using jargon or overly complex language.

5. Show empathy: Show that you understand and care about the other person’s feelings.

6. Offer valuable insights: When speaking in a group, provide a valuable takeaway or actionable item that people can walk away with.

7. Be an active listener: Listen attentively and respond accordingly, incorporating your points into the conversation.

8. Choose the right time: Pick the most opportune time to speak to ensure that you have the group’s attention and can deliver your message without interruption.

9. Be the unifying voice: Step in and unify the group’s thoughts to calm down the discussion and insert your point effectively.

10. Keep responses concise: Keep responses short and to the point to show respect for others’ time.

11. Avoid unnecessary comments: Avoid commenting on everything and only speak when you have something important to say.

12. Cut the fluff: Avoid being long-winded and get straight to the point.

13. Prepare ahead of time: Sort out your points and practice them before speaking in a group.

14. Smile and be positive: Smile and nod along as others speak, to build a positive relationship and be respected when it’s your turn to speak.

15. Take responsibility: Take responsibility for your own actions and feelings.

16. Ask questions: Ask questions to clarify any confusion or misunderstandings.

17. Avoid interrupting: Allow the other person to finish speaking without interruption.

18. Practice active listening: Repeat what the other person said to ensure you have understood correctly.

19. Use your body language too: Use nonverbal cues such as eye contact, facial expressions, and body language to convey your message and build rapport.

20. Be aware of the tone of your voice: it should be calm and assertive, not aggressive or passive.

By keeping these tips in mind, you can improve your communication skills and become a more powerful communicator, which can help you build better relationships, achieve your goals, and lead a more fulfilling life.

I you want to learn how to become more confident in life then you can join my weekly mentorship calls and 40+ online workshops at AweBliss.com so you can master your life with more success.